H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology). For questions on the data, please contact the data source (https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/h15/%). For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).
Why This Matters
The 1-year Treasury rate closely tracks Federal Reserve policy expectations and serves as a benchmark for short-term lending rates. More sensitive to Fed policy changes than longer-term rates. Used in yield curve analysis to assess monetary policy stance and economic outlook. Rising 1-year rates often signal tightening credit conditions.
Trading Implications
One-year rates closely track Fed fund futures and near-term policy expectations. Rapid changes often precede broader rate moves, making this useful for timing duration trades. Rising 1-year rates above Fed funds suggest tightening expectations, pressuring rate-sensitive sectors. The 1-year provides early signals for yield curve positioning and short-term funding cost impacts.
Data Details
- Source: Board of Governors of the Federal Reserve System
- Frequency: Monthly, Not Seasonally Adjusted
- Units: Percent