The Yield Curve
U.S. Treasury rates, 1990–2023 · Drag the timeline or press play
NORMAL
10Y − 2Y
+1.0%
Drag the timeline below or press Play to travel through 34 years of monetary history.
Speed
0.5×
1×
2×
4×
10-Year minus 2-Year Spread · Shaded areas = NBER Recessions