M2 Money Supply (Year-over-Year Change) vs 10-Year Treasury Yield
M2 Money Supply (Year-over-Year Change) is currently 3.9% (up +0.2%). 10-Year Treasury Yield is currently 4.1% (down -0.1%).
| Metric | M2 Money Supply (Year-over-Year Change) | 10-Year Treasury Yield |
|---|---|---|
| Current value | 3.9% | 4.1% |
| Previous reading | 3.7% | 4.25% |
| Change | +0.2% | -0.1% |
| Trend | up | down |
| Frequency | Monthly | Daily |
| Source | Federal Reserve | U.S. Treasury |
| Last updated | 2026-03-25 | 2026-04-04 |
| Category | money | rates |
What M2 Money Supply (Year-over-Year Change) measures
M2 is a measure of the money supply that includes cash, checking deposits, savings deposits, money market funds, and small time deposits. Year-over-year changes in M2 are a leading indicator of inflation and economic activity.
M2 growth has recovered to 3.9% year-over-year after an unprecedented contraction in 2023 (the first in modern history). The normalization of money supply growth supports economic activity without being excessively inflationary. For executives, moderate M2 growth (3-5%) is consistent with a healthy economy — it means enough liquidity to support business activity without fueling the kind of excess that drove 2021-2022 inflation.
What 10-Year Treasury Yield measures
The 10-year Treasury yield is the return investors earn on U.S. government bonds maturing in 10 years. It serves as the benchmark for mortgage rates, corporate bond yields, and the global risk-free rate.
The 10-year yield at 4.12% reflects market expectations for interest rates, inflation, and economic growth over the next decade. For executives, this rate directly affects: corporate borrowing costs (investment-grade bonds typically yield 10Y + 1-2%), mortgage rates (typically 10Y + 1.5-2%), and equity valuations (higher yields make bonds more competitive with stocks, pressuring P/E ratios).
Frequently asked
M2 Money Supply (Year-over-Year Change) is currently 3.9%, up +0.2% from the previous reading. Source: Federal Reserve, updated monthly.
10-Year Treasury Yield is currently 4.1%, down -0.1% from the previous reading. Source: U.S. Treasury, updated daily.
M2 growth has recovered to 3.9% year-over-year after an unprecedented contraction in 2023 (the first in modern history). The normalization of money supply growth supports economic activity without bei The 10-year yield at 4.12% reflects market expectations for interest rates, inflation, and economic growth over the next decade. For executives, this rate directly affects: corporate borrowing costs (