10-Year Treasury Yield vs Yield Curve Spread (10Y - 2Y)
10-Year Treasury Yield is currently 4.1% (down -0.1%). Yield Curve Spread (10Y - 2Y) is currently 0.4pp (up +0.1pp).
| Metric | 10-Year Treasury Yield | Yield Curve Spread (10Y - 2Y) |
|---|---|---|
| Current value | 4.1% | 0.4pp |
| Previous reading | 4.25% | 0.26pp |
| Change | -0.1% | +0.1pp |
| Trend | down | up |
| Frequency | Daily | Daily |
| Source | U.S. Treasury | Federal Reserve |
| Last updated | 2026-04-04 | 2026-04-04 |
| Category | rates | rates |
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).
What Yield Curve Spread (10Y - 2Y) measures
The yield curve spread measures the difference between the 10-year and 2-year Treasury yields. When positive (normal), longer-term bonds pay more. When negative (inverted), it historically signals recession risk.
The yield curve has un-inverted to +0.41 percentage points after being inverted for much of 2023-2024. Historically, the yield curve un-inverting and steepening often occurs just before a recession starts — the recession signal is not the inversion itself, but the re-steepening. For executives, this is a watch-closely moment: the economy may be entering a transition period.
Frequently asked
10-Year Treasury Yield is currently 4.1%, down -0.1% from the previous reading. Source: U.S. Treasury, updated daily.
Yield Curve Spread (10Y - 2Y) is currently 0.4pp, up +0.1pp from the previous reading. Source: Federal Reserve, updated daily.
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 ( The yield curve has un-inverted to +0.41 percentage points after being inverted for much of 2023-2024. Historically, the yield curve un-inverting and steepening often occurs just before a recession st