Government bond yields · Updated every market day

US & Canada yield curves today

Every benchmark tenor from 3 months to 30 years, straight from Federal Reserve (H.15) and Bank of Canada data — the same series professionals chart, updated nightly after the close.

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Daily change appears once at least two days of history have been recorded by the nightly pipeline.

The US 10-year over time

The 10-year Treasury yield is the reference rate for the world: mortgages, corporate borrowing costs, and equity valuations all key off it. History below accumulates one point per market day.

US 10Y HISTORY

How to read a yield curve

The yield curve plots what the government pays to borrow at each maturity. A normal curve slopes upward — lenders demand more yield to lock money up longer. An inverted curve, where short rates exceed long rates, means markets expect rate cuts ahead, historically because a slowdown is coming; the 2-year vs 10-year gap ("2s10s," shown in the tables above via the 2Y and 10Y rows) is the most-watched recession signal in finance. A steepening curve often accompanies recovery and rising inflation expectations.

For an investor, the curve is a menu. Its shape tells you where you're being paid to take duration risk: when the curve is flat, extending from a 2-year to a 10-year bond adds interest-rate risk for little extra yield; when it's steep, longer maturities compensate you meaningfully. Bond ladders — spreading purchases across maturities — are a way of buying the whole menu instead of guessing.

The US and Canadian curves usually rhyme but rarely match, because the Federal Reserve and the Bank of Canada move on different schedules and the two economies carry different inflation and growth mixes. The gap between the two 10-year yields is effectively the market's running commentary on those differences — and a factor in the USD/CAD exchange rate.

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