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 10-year Treasury yield is the global benchmark for long-term interest rates, influencing mortgage rates, corporate borrowing costs, and equity valuations. Rising yields indicate expectations of higher growth/inflation or tighter monetary policy. Inversely related to bond prices and often signals economic cycle changes. Critical for asset allocation decisions.
Trading Implications
The 10-year yield is the global benchmark for risk pricing and asset allocation. Rising yields above 4.5% typically pressure growth stocks and REITs while supporting financials. Falling below 3.5% signals economic concerns and flight-to-quality demand. The 10-year drives mortgage rates, affecting housing stocks. Traders use yield levels for sector rotation and duration positioning across global markets.
Data Details
- Source: Board of Governors of the Federal Reserve System
- Frequency: Monthly, Not Seasonally Adjusted
- Units: Percent