US Treasury Yield Curve Graphs

READ THIS FIRST
Type in a character string similar to one of the EXAMPLES below and click "Plot".

You can also click any example shown in blue to run it directly.

(GRAPHS BASED ON U.S. TREASURY ON-THE-RUN SECURITIES — AND COMPARISONS WITH OTHER ASSETS)

Disclaimer: All results are based on approximate historical data and are provided for informational purposes only. No guarantee is made regarding the accuracy, completeness, or applicability of the results. Use at your own risk. This is not financial advice.

EXAMPLES

yld / ylm / ylr / ylk / dif,yrs,maturities — Plots Treasury yields for the selected maturities over the specified period.

Example:
yld,1,10 Yr,30 Yr — Plots daily par yields for 10-Year and 30-Year Treasuries over the past year.

Available Maturities:

Nominal:
1 Mo, 1.5 Mo, 2 Mo, 4 Mo, 3 Mo, 6 Mo, 1 Yr, 2 Yr, 3 Yr, 5 Yr, 7 Yr, 10 Yr, 20 Yr, 30 Yr

Real:
5 Yr, 7 Yr, 10 Yr, 20 Yr, 30 Yr

Yield History:

The second entry specifies the number of years (or other time period) to plot.

yld — Daily par yields.
yld,2,3 Mo,2 Yr — Plots the 3-Month and 2-Year Treasury yields over 2 years.

ylm — Monthly par yields.
ylm,2,3 Mo,2 Yr

ylr — Real yields.
ylr,2,5 Yr,10 Yr

ylk — Combined nominal and real yields.
ylk,2,5 Yr

dif — Implied inflation (Nominal Yield - Real Yield).
dif,2,5 Yr,10 Yr

ylp / ylx — Estimated Treasury returns based on prices.

Yield Spreads:

yld,3,10 Yr-2 Yr — Plots the 10-Year minus 2-Year Treasury yield spread over the past 3 years.

yld,3,10 Yr-2 Yr-SPY — Plots the 10-Year minus 2-Year yield spread together with SPY over the past 3 years.

Instead of SPY, another asset such as GSPC, GBTC, GLD, FFNOX, etc. may be used.

Treasury Price Returns:

ylp,yrs,5 Yr,... — Estimates returns on U.S. Treasury On-the-Run securities using par-yield history over the specified period.

ylp,3,5 Yr,SPY — Compares estimated 5-Year Treasury returns with SPY over 3 years.

ylp,10,10 Yr,30 Yr — Compares estimated 10-Year and 30-Year Treasury returns over 10 years.

Adding _CPI to a ticker adjusts its results for inflation.

ylp,3,5 Yr,SPY,@100 — Shows the 100-working-day moving correlation of returns between SPY and the 5-Year Treasury.

ylp,5,x_bonds — Special case that plots estimated returns for all supported U.S. Treasury maturities.

Real-Yield-Based Treasury Returns:

ylx,yrs,5 Yr,... — Similar to ylp, but estimated Treasury returns are based on real-yield (TIPS) curves, with prices adjusted upward for CPI.

Adding _CPI to a ticker adjusts it downward for inflation. If not, Treasury prices are adjusted upward for CPI by default.

ylx,3,5 Yr,SPY,@100 — Shows the 100-working-day moving correlation of returns between SPY and the 5-Year Treasury. Treasury prices are adjusted upward for CPI.

Spot Yield Curves:

ysp,date1/date2 — Displays nominal spot curves for the specified dates.

ysp,2021-01-21/2025-01-21 — Shows nominal spot curves for January 21, 2021 and January 21, 2025.

Yield Curve Changes:

yls,date1/date2 — Displays the change in the nominal yield curve between the specified dates. Dates must be after 2023-01-01.

yls,2023-01-21/2025-01-21 — Shows the change in the nominal yield curve between January 21, 2023 and January 21, 2025.

Historical Yield Curve Evolution:

Format:
yld,date1/date2/num

Plots yield curves from date1 through date2 at intervals of approximately num trading days.

yld,2021-01-21/2025-01-21/251 — Plots nominal yield curves between the two dates at 251-trading-day intervals.

ylr,2021-01-21/2025-01-21/251 — Same analysis using real yields.

Inflation Expectations:

iny,date — Shows nominal yields together with interpolated Cleveland Fed inflation expectations for the specified date.

iny,2021-01-21

Fitted Yield Curves:

For a single date:

yly,2025-05-02 — Plots fitted nominal and real yield curves for that date.

Other Ways to Specify the Time Period:

Year:
2022 — Uses data from 1/1/2022 through 12/31/2022.

Year Range:
2021-2023 or 2021-23 — Uses data from 1/1/2021 through 12/31/2023.

YTD:
Uses data from the beginning of the current year through today.

Years:
2 — Starts 2 years ago.
2.3 — Starts 2.3 years ago.
3.5-6 — Uses data from 6 years ago through 3.5 years ago.

Months:
3M — Starts 3 months ago.
3M-7M — Uses data from 7 months ago through 3 months ago.

Date Range:
20210912 — Uses data from 9/12/2021 through today.
20210912-20231231 — Uses data from 9/12/2021 through 12/31/2023.