This 3D grid shows how the U.S. Treasury yield curve changes over time.
The rate lines trace each tenor's yield through time. The curve lines connect the yields across tenors on each observation date.
Use Display Mode to view rate lines, curve lines, both as a grid surface, or as a solid surface.
Hover over any point to see its date, tenor, and rate. Click and drag to rotate the grid; zoom to explore it in greater detail.
Source: U.S. Treasury
Description: These rates are commonly referred to as "Constant Maturity Treasury" rates, or CMTs. Yields are interpolated by the Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York. The yield values are read from the yield curve at fixed maturities, currently 1, 3 and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years. This method provides a yield for a 10 year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity.
| How to Compare This Chart to Treasury Futures | Futures Contract | Min. Term to Maturity | Max Term to Maturity |
|---|---|---|
| UB (Ultra Bond) | 25 years | - |
| ZB (30-Year Bond) | 15 years | 25 years |
| ZN (10-Year T-Note) | 6 years + 6 months | 10 years |
| ZF (5-Year T-Note) | 4 years + 9 months | 5 years + 3 months |
| ZT (2-Year T-Note) | 1 year + 9 months | 5 years + 3 months |
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