Set a Risk-Free Benchmark
Many investors use the 3-month or 10-year Treasury yield as the risk-free rate in valuation models, hurdle rates, and portfolio backtests.
Bonds • U.S. Treasuries • Yield Curve
U.S. Treasury Yield Curve (Real-Time Snapshot)
Track current U.S. Treasury yields across major maturities, from 3-month bills to 30-year bonds. Use this page to monitor rate moves, spot an inverted yield curve, and compare short-term vs long-term borrowing costs.
Highest Yield Maturity
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Shows which part of the curve is paying the most
Curve Shape (2Y vs 10Y)
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Normal, flat, or inverted
Last Updated
Today
Yields may be delayed vs. official sources
Data is for informational and educational purposes only and may not reflect official closing yields. Always confirm rates with your broker, bank, or the U.S. Treasury before making decisions.
Why U.S. Treasury Yields Matter for Investors
U.S. Treasuries are widely viewed as the benchmark risk-free rate for global markets. Their yields influence everything from mortgage rates and corporate bonds to equity valuations and discount rates used in cash-flow models.
By watching the yield curve, you can quickly see how the market is pricing inflation, growth expectations, and recession risk. Short-term yields are heavily driven by Federal Reserve policy, while long-term yields reflect investor confidence in the economy over decades.
Filter the Yield Curve by Term
Focus on specific parts of the curve using the quick filters below. Short-term maturities are often used as a cash alternative, while longer maturities are more sensitive to inflation and growth expectations.
Current U.S. Treasury Yields by Maturity
The table below shows key points on the U.S. Treasury yield curve. Yields are expressed as annual percentage rates. Changes in basis points (“bps”) highlight how much each maturity has moved today.
| Maturity | Type | Current Yield | Change (bps) | Term Bucket |
|---|---|---|---|---|
| 3-Month T-Bill | Bill | 5.20% | -2 bps | Short-Term (Cash-like) |
| 6-Month T-Bill | Bill | 5.15% | -1 bps | Short-Term (Cash-like) |
| 1-Year Treasury | Note | 5.05% | 0 bps | Short-Term (Cash-like) |
| 2-Year Treasury | Note | 4.80% | +3 bps | Medium-Term (Rate Expectations) |
| 5-Year Treasury | Note | 4.45% | +5 bps | Medium-Term (Growth & Inflation) |
| 10-Year Treasury | Note | 4.35% | +4 bps | Medium-Term (Benchmark Rate) |
| 20-Year Treasury | Bond | 4.60% | +6 bps | Long-Term (Inflation & Duration) |
| 30-Year Treasury | Bond | 4.70% | +7 bps | Long-Term (Duration Risk) |
Yields shown above are sample figures for illustration and may not match current market prices. Update these values regularly or connect your own data source if you need real-time accuracy.
How to Read the U.S. Treasury Yield Curve
- Start with the short end. Bills and 1-year notes move closely with Fed policy. Rising short-term yields often signal tighter monetary policy or expectations of higher rates.
- Compare 2-year vs 10-year yields. When the 2-year yield is higher than the 10-year yield, the curve is said to be inverted, which has historically preceded many U.S. recessions.
- Watch the long end for inflation expectations. Higher 20- and 30-year yields can indicate that investors demand more compensation for long-term inflation and uncertainty.
- Use term buckets for portfolio decisions. Short-term Treasuries behave like enhanced cash, while medium and long maturities carry more price risk but may hedge equity drawdowns.
- Always consider your time horizon. Matching bond maturities to your investment horizon can reduce reinvestment risk and help stabilize returns.
This tool is designed as a quick reference for investors, analysts, and students who want an at-a-glance view of where risk-free U.S. rates are trading across the curve.
Ways Investors Use Treasury Yields
Compare Bonds vs Cash
Short-term Treasury yields help investors decide whether to hold cash, money-market funds, or step out the curve into longer-dated bonds for potentially higher income.
Gauge Recession Risk
Yield-curve inversions (when long rates fall below short rates) are a classic signal that markets expect slower growth or future rate cuts — useful context for equity and credit risk.
U.S. Treasury Yields – Frequently Asked Questions
What is a Treasury yield?
A Treasury yield is the annualized return an investor earns by holding a U.S. government bond to maturity. Yields move inversely to prices: when bond prices rise, yields fall, and vice versa.
Why does the yield curve invert?
The curve inverts when investors expect future rate cuts or slower growth, pushing long-term yields below short-term yields. This often happens late in a tightening cycle when the Fed has raised short-term rates aggressively.
Are Treasuries completely risk-free?
U.S. Treasuries are considered free of default risk in U.S. dollars, but they still carry interest-rate risk (price moves when yields change) and inflation risk if inflation erodes purchasing power faster than your yield.
How often do Treasury yields change?
Market yields trade continuously during U.S. market hours. Official reference yields are typically published daily by the U.S. Treasury and Federal Reserve, but intraday levels can fluctuate based on economic data, auctions, and risk sentiment.
Disclaimer: This page is for informational purposes only and does not constitute investment, tax, or financial advice. U.S. Treasury yields and bond prices can change quickly. Always consult a qualified advisor and verify rates with official sources before making decisions.