Updated May 2026 · U.S. Treasury
Rates Indicator
2-Year Treasury Yield
2-Year Treasury Yield is a interest rate and yield indicator central to monetary policy and corporate borrowing sourced from U.S. Treasury, updated daily.
Historical Trend
| Date | Value |
|---|---|
| 2026-04-04 | 3.7% |
| 2026-03-28 | 4.0% |
| 2026-03-14 | 4.0% |
| 2026-03-07 | 4.0% |
| 2026-02 | 4.0% |
| 2026-01 | 4.2% |
| 2025-12 | 4.3% |
| 2025-11 | 4.1% |
| 2025-10 | 4.1% |
Reading the Current Print
At 3.7%, the current reading sits in the lower portion of the recent historical range for this series. That is depressed relative to recent norms; the question for an operator is whether the soft reading reflects a near-term cyclical low or the start of a more persistent shift.
2Y Treasury moved from 4.0% to 3.7% since the prior daily release — a sharp move lower of -0.3%. Downward moves on rates indicators usually carry directional information about the cycle; pair this reading with related series before drawing strong conclusions.
Because this series is published daily, traders and analysts often watch tick-by-tick changes. For operators, the more useful frame is the rolling weekly or monthly average — daily prints carry too much noise to drive operating decisions on their own.
What This Means for Business
The 2-year yield at 3.71% — well below the current fed funds rate of 4.50% — signals that markets expect the Fed to cut rates. The wider this gap, the more aggressively markets expect easing. For CFOs, short-term borrowing costs may decline sooner than long-term rates, favoring shorter-duration financing strategies.
For deeper context on how 2Y Treasury fits into the broader macro picture, see the learn library; for live cross-checks against related series, browse the full indicators dashboard; for tools that translate the reading into business outputs (DCF discount rates, runway projections), see the calculators page. Authoritative external context is available at the Federal Reserve’s FRED database, the U.S. Bureau of Labor Statistics, and the SEC EDGAR system for company-level filings.
About 2Y Treasury
The 2-year Treasury yield reflects market expectations for short-term interest rates over the next two years. It is the most sensitive government bond to Federal Reserve policy changes.
Methodology
Like all Treasury yields, the 2-year rate is determined by auction prices and secondary market trading. It is especially sensitive to Fed guidance, employment data, and inflation reports because of its short maturity.
The series is published by U.S. Treasury under series identifier DGS2. ExecBolt does not estimate, model, or interpolate this value — every reading on this page is pulled directly from the publishing agency’s primary release. For full sourcing and citation guidance, see the methodology page.
Related Indicators
Frequently Asked Questions
What is 2-Year Treasury Yield right now?
2-Year Treasury Yield is currently 3.7%, down -0.3% from the previous daily reading. Source: U.S. Treasury, series DGS2, last updated 2026-04-04.
How is 2Y Treasury calculated?
Like all Treasury yields, the 2-year rate is determined by auction prices and secondary market trading. It is especially sensitive to Fed guidance, employment data, and inflation reports because of its short maturity.
Where can I verify this number?
2-Year Treasury Yield is published by U.S. Treasury. The primary release is available at https://home.treasury.gov/resource-center/data-chart-center/interest-rates; the U.S. Treasury hosts the historical series and provides API access for programmatic verification.
What does it mean when the 2-year yield is below the fed funds rate?
When the 2-year yield is significantly below the fed funds rate, the bond market is pricing in rate cuts. The 2-year yield essentially represents the expected average of the fed funds rate over the next two years. A 2-year yield of 3.71% vs. a fed funds rate of 4.50% implies markets expect meaningful rate reductions.