Change yield
+0.44ptsNot inverted10-year 5.24% minus 2-year 4.80% · Source date: 9 Oct 2026 · Source: US Department of the Treasury
−0.8 ptsover 5 years

Get both yields by API

GET /v1/economics/USA/yield-curve/history?maturity=2y,10y

{ "date": "2026-10-09",
  "yields": [{ "maturity": "2y", "yield_percent": "4.80" },
             { "maturity": "10y", "yield_percent": "5.24" }] }

Daily 2-year and 10-year yields on the same source date, ready to compute the spread.

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Key data points

Latest spread
+0.44 pts 9 Oct 2026
52-week range
+0.20 pts
to +0.74 pts
Highest spread in data
+2.91 pts 4 Feb 2011
Lowest spread in data
−1.08 pts 3 Jul 2023
Daily history from
2 Jan 1990

Inversion periods

Periods with the 10-year yield below the 2-year yield
FromToPublished daysDeepest
5 Sep 20245 Sep 20241−0.02 pts
3 Sep 20243 Sep 20241−0.04 pts
6 Jul 202226 Aug 2024537−1.08 pts
1 Apr 20224 Apr 20222−0.05 pts
27 Aug 201929 Aug 20193−0.04 pts
30 May 20075 Jun 20075−0.04 pts
3 May 200721 May 200713−0.06 pts
17 Aug 200620 Mar 2007147−0.19 pts
14 Aug 200615 Aug 20062−0.01 pts
7 Aug 20067 Aug 20061−0.03 pts
2 Aug 20063 Aug 20062−0.02 pts
30 Jun 200626 Jul 200618−0.07 pts
8 Jun 200628 Jun 200615−0.06 pts
21 Mar 200629 Mar 20067−0.05 pts
31 Jan 20067 Mar 200625−0.16 pts
29 Dec 200530 Dec 20052−0.02 pts
27 Dec 200527 Dec 20051−0.01 pts
28 Dec 200028 Dec 20001−0.05 pts
11 Feb 200026 Dec 2000220−0.52 pts
2 Feb 20009 Feb 20006−0.13 pts

US 10-year minus 2-year Treasury spread by year

US 10-year minus 2-year Treasury spread by year
YearAverageHighLowChange
2026 (to date)+0.49 pts+0.74 pts30 Jan 2026+0.20 pts21 Sep 2026▼ −0.3 pts
2025+0.48 pts+0.73 pts22 Dec 2025+0.20 pts7 Feb 2025▲ +0.4 pts
2024−0.16 pts+0.33 pts31 Dec 2024−0.47 pts24 May 2024▲ +0.7 pts
2023−0.62 pts−0.13 pts25 Oct 2023−1.08 pts3 Jul 2023▲ +0.3 pts
2022−0.04 pts+0.89 pts4 Jan 2022−0.84 pts7 Dec 2022▼ −1.4 pts
2021+1.18 pts+1.59 pts29 Mar 2021+0.72 pts27 Dec 2021unchanged
2020+0.50 pts+0.83 pts23 Dec 2020+0.12 pts21 Feb 2020▲ +0.5 pts
2019+0.17 pts+0.34 pts31 Dec 2019−0.04 pts27 Aug 2019▲ +0.2 pts
2018+0.38 pts+0.78 pts9 Feb 2018+0.11 pts4 Dec 2018▼ −0.3 pts
2017+0.93 pts+1.30 pts25 Jan 2017+0.51 pts15 Dec 2017▼ −0.7 pts
2016+1.00 pts+1.34 pts12 Dec 2016+0.76 pts8 Jul 2016unchanged
2015+1.45 pts+1.77 pts26 Jun 2015+1.19 pts2 Feb 2015▼ −0.3 pts
2014+2.08 pts+2.61 pts2 Jan 2014+1.46 pts22 Dec 2014▼ −1.1 pts
2013+2.04 pts+2.66 pts31 Dec 2013+1.46 pts1 May 2013▲ +1.1 pts
2012+1.53 pts+2.00 pts19 Mar 2012+1.21 pts25 Jul 2012▼ −0.2 pts
2011+2.33 pts+2.91 pts4 Feb 2011+1.52 pts22 Sep 2011▼ −1.1 pts
2010+2.51 pts+2.90 pts11 Jan 2010+1.99 pts26 Aug 2010▼ −0.1 pts
2009+2.31 pts+2.82 pts24 Dec 2009+1.50 pts15 Jan 2009▲ +1.1 pts
2008+1.65 pts+2.60 pts13 Nov 2008+1.03 pts2 Jan 2008▲ +0.5 pts
2007+0.27 pts+1.04 pts11 Dec 2007−0.15 pts19 Jan 2007▲ +1.1 pts
Show all
US 10-year minus 2-year Treasury spread by year
YearAverageHighLowChange
2006−0.02 pts+0.21 pts3 May 2006−0.19 pts15 Nov 2006▼ −0.1 pts
2005+0.43 pts+1.13 pts3 Jan 2005−0.02 pts30 Dec 2005▼ −1.1 pts
2004+1.89 pts+2.46 pts5 Jan 2004+1.12 pts15 Dec 2004▼ −1.3 pts
2003+2.36 pts+2.75 pts29 Jul 2003+1.96 pts23 May 2003▲ +0.2 pts
2002+1.98 pts+2.37 pts7 Aug 2002+1.63 pts22 Mar 2002▲ +0.2 pts
2001+1.19 pts+2.10 pts11 Dec 2001+0.05 pts2 Jan 2001▲ +1.9 pts
2000−0.23 pts+0.31 pts21 Jan 2000−0.52 pts7 Apr 2000▼ −0.2 pts
1999+0.21 pts+0.40 pts11 May 1999+0.05 pts22 Jan 1999▲ +0.1 pts
1998+0.13 pts+0.60 pts13 Oct 1998−0.07 pts25 Jun 1998unchanged
1997+0.36 pts+0.60 pts28 Jan 1997+0.03 pts22 Dec 1997▼ −0.5 pts
1996+0.60 pts+0.86 pts16 Feb 1996+0.41 pts3 Jan 1996▲ +0.1 pts
1995+0.42 pts+0.60 pts18 Apr 1995+0.15 pts3 Jan 1995▲ +0.3 pts
1994+1.14 pts+1.67 pts25 Jan 1994+0.09 pts27 Dec 1994▼ −1.5 pts
1993+1.82 pts+2.29 pts15 Jan 1993+1.38 pts15 Oct 1993▼ −0.5 pts
1992+2.24 pts+2.65 pts14 Jul 1992+1.75 pts23 Mar 1992▲ +0.1 pts
1991+1.37 pts+2.18 pts11 Dec 1991+0.85 pts3 Jan 1991▲ +1.0 pts
1990+0.39 pts+0.93 pts11 Oct 1990−0.14 pts20 Mar 1990▲ +0.9 pts
United States yield curveUS Department of the TreasuryUS 10-year Treasury yieldUS Department of the TreasuryUS 2-year Treasury yieldUS Department of the TreasuryUS 30-year Treasury yieldUS Department of the Treasury

Common questions

Is the yield curve inverted?

No. On 9 Oct 2026 the 10-year yield was 5.24% and the 2-year yield was 4.80%. The spread was 0.44 percentage points.

What does an inverted yield curve mean?

The curve is inverted when the 10-year yield is below the 2-year yield. The spread is the 10-year yield minus the 2-year yield for the same day.

What is the latest inversion period?

The latest recorded period spans 5 Sep 2024 to 5 Sep 2024, covering 1 published days. Its lowest spread was −0.02 pts on 5 Sep 2024.

Where does this data come from?

Both yields come from the official daily yield curve (Nominal par yield) published by US Department of the Treasury. The spread is the 10-year value minus the 2-year value on the same day.

Source
US Department of the Treasury
Methodology →
API
GET /v1/economics/USA/yield-curve/history
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