The spread between 10-year and 2-year U.S. Treasury bond yields reached a negative value of -0.38 percent in May 2024.
The 10-year minus 2-year Treasury bond spread is generally considered to be an advance warning of severe weakness in the stock market. Negative spreads occurred prior to the recession of the early 1990s, the tech-bubble crash in 2000-2001, and the financial crisis of 2007-2008.
Monthly ten-year government bond yield minus two-year government bond yield spread in the United States from 2006 to May 2024
Characteristic
Yield spread
May-24
-0.38%
Apr-24
-0.33%
Mar-24
-0.38%
Feb-24
-0.33%
Jan-24
-0.26%
Dec-23
-0.44%
Nov-23
-0.38%
Oct-23
-0.27%
Sep-23
-0.64%
Aug-23
-0.73%
Jul-23
-0.93%
Jun-23
-0.89%
May-23
-0.56%
Apr-23
-0.56%
Mar-23
-0.64%
Feb-23
-0.78%
Jan-23
-0.68%
Dec-22
-0.67%
Nov-22
-0.61%
Oct-22
-0.4%
Sep-22
-0.34%
Aug-22
-0.35%
Jul-22
-0.14%
Jun-22
0.14%
May-22
0.28%
Apr-22
0.21%
Mar-22
0.22%
Feb-22
0.49%
Jan-22
0.78%
Dec-21
0.78%
Nov-21
1.05%
Oct-21
1.19%
Sep-21
1.13%
Aug-21
1.06%
Jul-21
1.1%
Jun-21
1.32%
May-21
1.47%
Apr-21
1.47%
Mar-21
1.46%
Feb-21
1.14%
Jan-21
0.95%
Dec-20
0.79%
Nov-20
0.7%
Oct-20
0.64%
Sep-20
0.55%
Aug-20
0.51%
Jul-20
0.47%
Jun-20
0.55%
May-20
0.5%
Apr-20
0.44%
Mar-20
0.42%
Feb-20
0.17%
Jan-20
0.24%
Dec-19
0.25%
Nov-19
0.2%
Oct-19
0.16%
Sep-19
0.05%
Aug-19
0.06%
Jul-19
0.22%
Jun-19
0.26%
May-19
0.19%
Apr-19
0.19%
Mar-19
0.16%
Feb-19
0.18%
Jan-19
0.17%
Dec-18
0.15%
Nov-18
0.26%
Oct-18
0.29%
Sep-18
0.23%
Aug-18
0.25%
Jul-18
0.28%
Jun-18
0.38%
May-18
0.47%
Apr-18
0.49%
Mar-18
0.56%
Feb-18
0.68%
Jan-18
0.55%
Dec-17
0.56%
Nov-17
0.65%
Oct-17
0.81%
Sep-17
0.82%
Aug-17
0.87%
Jul-17
0.95%
Jun-17
0.85%
May-17
1%
Apr-17
1.06%
Mar-17
1.17%
Feb-17
1.22%
Jan-17
1.22%
Dec-16
1.29%
Nov-16
1.16%
Oct-16
0.92%
Sep-16
0.86%
Aug-16
0.82%
Jul-16
0.83%
Jun-16
0.91%
May-16
0.99%
Apr-16
1.04%
Mar-16
1.01%
Feb-16
1.05%
Jan-16
1.19%
Dec-15
1.26%
Nov-15
1.38%
Oct-15
1.43%
Sep-15
1.46%
Aug-15
1.47%
Jul-15
1.65%
Jun-15
1.67%
May-15
1.59%
Apr-15
1.4%
Mar-15
1.4%
Feb-15
1.36%
Jan-15
1.33%
Dec-14
1.57%
Nov-14
1.8%
Oct-14
1.85%
Sep-14
1.96%
Aug-14
1.95%
Jul-14
2.03%
Jun-14
2.15%
May-14
2.17%
Apr-14
2.29%
Mar-14
2.32%
Feb-14
2.38%
Jan-14
2.47%
Dec-13
2.56%
Nov-13
2.42%
Oct-13
2.28%
Sep-13
2.41%
Aug-13
2.38%
Jul-13
2.24%
Jun-13
1.97%
May-13
1.68%
Apr-13
1.53%
Mar-13
1.7%
Feb-13
1.71%
Jan-13
1.64%
Dec-12
1.46%
Nov-12
1.38%
Oct-12
1.47%
Sep-12
1.46%
Aug-12
1.41%
Jul-12
1.28%
Jun-12
1.33%
May-12
1.51%
Apr-12
1.76%
Mar-12
1.83%
Feb-12
1.69%
Jan-12
1.73%
Dec-11
1.72%
Nov-11
1.76%
Oct-11
1.87%
Sep-11
1.77%
Aug-11
2.07%
Jul-11
2.59%
Jun-11
2.59%
May-11
2.61%
Apr-11
2.73%
Mar-11
2.71%
Feb-11
2.81%
Jan-11
2.78%
Dec-10
2.67%
Nov-10
2.31%
Oct-10
2.16%
Sep-10
2.17%
Aug-10
2.18%
Jul-10
2.39%
Jun-10
2.48%
May-10
2.59%
Apr-10
2.79%
Mar-10
2.77%
Feb-10
2.83%
Jan-10
2.8%
Dec-09
2.72%
Nov-09
2.6%
Oct-09
2.44%
Sep-09
2.44%
Aug-09
2.47%
Jul-09
2.54%
Jun-09
2.54%
May-09
2.36%
Apr-09
2%
Mar-09
1.89%
Feb-09
1.89%
Jan-09
1.71%
Dec-08
1.6%
Nov-08
2.32%
Oct-08
2.2%
Sep-08
1.61%
Aug-08
1.47%
Jul-08
1.44%
Jun-08
1.33%
May-08
1.43%
Apr-08
1.63%
Mar-08
1.89%
Feb-08
1.77%
Jan-08
1.26%
Dec-07
0.98%
Nov-07
0.81%
Oct-07
0.56%
Sep-07
0.51%
Aug-07
0.36%
Jul-07
0.18%
Jun-07
0.12%
May-07
-0.02%
Apr-07
0.02%
Mar-07
-0.01%
Feb-07
-0.13%
Jan-07
-0.12%
Dec-06
-0.11%
Nov-06
-0.14%
Oct-06
-0.07%
Sep-06
-0.05%
Aug-06
-0.02%
Jul-06
-0.03%
Jun-06
-0.01%
May-06
0.14%
Apr-06
0.1%
Mar-06
-0.01%
Feb-06
-0.1%
Jan-06
0.02%
Zoomable Statistic: Select the range in the chart you want to zoom in on.
Values are calculated using the treasury constant maturity. Constant maturity is an adjustment for equivalent maturity used by the Federal Reserve Board to calculate an index based on the average yield of various Treasury securities maturing at different periods - in this case two and ten years.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
St. Louis Fed. (June 15, 2024). Monthly ten-year government bond yield minus two-year government bond yield spread in the United States from 2006 to May 2024 [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1039451/us-government-bonds-ten-minus-two-year-yield-spread/
St. Louis Fed. "Monthly ten-year government bond yield minus two-year government bond yield spread in the United States from 2006 to May 2024." Chart. June 15, 2024. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1039451/us-government-bonds-ten-minus-two-year-yield-spread/
St. Louis Fed. (2024). Monthly ten-year government bond yield minus two-year government bond yield spread in the United States from 2006 to May 2024. Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1039451/us-government-bonds-ten-minus-two-year-yield-spread/
St. Louis Fed. "Monthly Ten-year Government Bond Yield minus Two-year Government Bond Yield Spread in The United States from 2006 to May 2024." Statista, Statista Inc., 15 Jun 2024, https://www.statista.com/statistics/1039451/us-government-bonds-ten-minus-two-year-yield-spread/
St. Louis Fed, Monthly ten-year government bond yield minus two-year government bond yield spread in the United States from 2006 to May 2024 Statista, https://www.statista.com/statistics/1039451/us-government-bonds-ten-minus-two-year-yield-spread/ (last visited September 01, 2024)
Monthly ten-year government bond yield minus two-year government bond yield spread in the United States from 2006 to May 2024 [Graph], St. Louis Fed, June 15, 2024. [Online]. Available: https://www.statista.com/statistics/1039451/us-government-bonds-ten-minus-two-year-yield-spread/