This page tracks the yield on the 10‑Year U.S. Treasury Note, one of the most important interest rates in global finance. The 10‑year yield influences mortgage rates, corporate borrowing costs, equity valuations, and overall financial conditions.
It is widely viewed as the benchmark for long‑term interest rates.
What This Chart Shows
- Long‑term interest rate trends driven by inflation, growth expectations, and Fed policy
- Major peaks in the early 1980s during the inflation fight
- Multi‑decade decline from 1982 to 2020
- Sharp moves during crises (2008, 2020) and tightening cycles (2022–2024)
- The yield curve’s behavior relative to short‑term rates
Key Takeaways
- The 10‑year yield is the benchmark for long‑term borrowing costs
- Rising yields often signal inflation pressure or strong growth expectations
- Falling yields may indicate recession fears or flight‑to‑safety demand
- The 10‑year is central to mortgage rates, equity valuations, and bond pricing
- Comparing the 10‑year to the 2‑year yield helps identify yield curve inversions
Data Source
U.S. Department of the Treasury via FRED®