TIPS Real Yields · History · 10Y 2.63% — Steepener

The read

Real (TIPS) · History · 6 Nov 2026

10Y 2.63%

on the month: −29bp
rank · 5y: 97th
5s30s: +72bp

History is the complete record of closes a single maturity has printed, in the real yield.

Real (TIPS) 10Y from 8 Nov 2021 to 6 Nov 2026: 10Y currently 2.63%, between −1.17% and 2.95% over the window.

TIPS real yields: the return Treasury bonds pay above inflation once their inflation-linked principal is stripped out.

Rank

10Y 2.63%: 88th of 1y, 97th of 5y, 98th of 10y, 98th of since 2003. High is a higher real return for lending ten years.

Angles

Curve · 2.35% at the 5Y rising to a high of 3.07% at the 30Y · level bars, shaded by five-year rank; the headline maturity is outlined
Change · −29bp on the month, most at the 5Y (−31bp) · on the month, in basis points; amber rose, blue fell
Volatility · 10Y moved +3bp today against a typical day of 4.2bp · the last 21 sessions placed by size, never by date; the band is one typical day
Percentiles · Against five years the 7Y is highest at 97 and the 5Y lowest at 95 · amber above the median of the window, blue below; a dashed cell has less record than its window

How to read this

What it is

History is the complete record of closes a single maturity has printed, in the real yield. It reaches the earliest print there is, and a break in it marks a session nobody published, never a quiet one.

How to read the chart

Each point is a single close in percent, for the maturity on the button. It is the level itself, not a change or a rank.

Months of direction carry the meaning here; one print rarely does. Widen Show and a big day looks small.

Method

Where a print is missing, the line breaks rather than bridging the gap. Each maturity’s record starts when its own series starts, which leaves the left edge ragged.

Source

US Treasury · NBER · daily TIPS par yield curve

Real (TIPS) in detail

6 Nov 2026 · real par yields, Treasury, around 3:30pm ET

Curve

Tenor	Real yield	1D	1W	1M	1Y	%ile 5y
5Y	2.35%	+2	+10	−31	+104	95
7Y	2.48%	+2	+6	−30	+93	97
10Y	2.63%	+3	+3	−29	+82	97
20Y	2.91%	+1	−1	−29	+67	97
30Y	3.07%	+2	−1	−29	+62	97

tenors 1, 5, 21, 252 trading days; anchors 1, 7, 30, 365 calendar

Slope

Pair	BP	1D	1W	1M	%ile 5y
5s10s	+28bp	+1	−7	+2	57
5s30s	+72bp	0	−11	+2	57
10s30s	+44bp	−1	−4	0	61

long − short, in basis points

Curvature

Fly	BP	1D	1W	1M	%ile 5y
5s10s30s	−16bp	+2	−3	+2	51

2 × belly − wings, 50-50 weighted, not duration-neutral

Slope-neutral

Fly	BP	1D	1W	1M	%ile 5y
5s10s30s	−2bp	+2	−2	+2	38

the fly with 5s30s regressed out over five years

State

Line	Value	Detail
Inverted	0 of 7	pairs 2× apart in maturity
Deepest	—	nothing counted is inverted
Uncounted	—	no inversion between neighbours
5s30s	not inverted
Month	Bull Steepener	Δ level −29bp · Δ slope +3bp over a month

This inversion

Line	Value	Detail
Last episode	42 sessions	11 Aug 2023 → 11 Oct 2023
Deepest (25 Aug 2023)	−20bp
Area	433	basis points × sessions below zero
Un-inverted (12 Oct 2023)	1121 days ago	calendar days, not sessions

5s30s episodes of 20 sessions or more, since 22 Feb 2010

Volatility

Line	Value	Detail
10Y vol	66bp	annualised, 21 sessions
Rank · 5y	33rd
Shape share	1.10	5s30s vol ÷ 10Y vol

realised standard deviation of daily changes, annualised

Held, not watched

Line	Value	Detail
1y	−4.9%
5y	−25.1%	not annualised
Worst fall (3 Aug 2021)	−29.7%	peak to trough, bottoming 25 Oct 2023
Since then	−26.1%

a rolling 10Y par bond, coupon and price. Not a fund

Anchors

Anchor	Value	Detail
NBER (dated to 1 Oct 2026)	not in a dated recession	NBER dates turning points about a year late

Spreads and butterflies are derived here from the published real yield curve. They are not published by any source. A dash means the value could not be computed or was too thin to rank, never zero.