About the 2-year Treasury yield
The 2-year Treasury yield is the return on US government debt that matures in two years. Because it is short, it follows the market’s expectations for the federal funds rate over the next two years more closely than any other Treasury yield.
When the 2-year yield rises above the 10-year yield, the yield curve is inverted – a pattern that has come before most US recessions since the 1970s. The chart shows the monthly average of daily constant-maturity yields.
2-Year Treasury Yield by year
| Year | Average | High | Low | December / latest |
|---|---|---|---|---|
| 2026 (to Oct) | 4.05% | 4.75% | 3.47% | 4.75% |
| 2025 | 3.81% | 4.27% | 3.50% | 3.50% |
| 2024 | 4.37% | 4.87% | 3.62% | 4.23% |
| 2023 | 4.58% | 5.07% | 4.02% | 4.46% |
| 2022 | 2.98% | 4.50% | 0.98% | 4.29% |
| 2021 | 0.27% | 0.68% | 0.12% | 0.68% |
| 2020 | 0.40% | 1.52% | 0.13% | 0.14% |
| 2019 | 1.97% | 2.54% | 1.55% | 1.61% |
| 2018 | 2.53% | 2.86% | 2.03% | 2.68% |
| 2017 | 1.40% | 1.84% | 1.20% | 1.84% |
| 2016 | 0.84% | 1.20% | 0.67% | 1.20% |
| 2015 | 0.69% | 0.98% | 0.54% | 0.98% |
| 2014 | 0.46% | 0.64% | 0.33% | 0.64% |
| 2013 | 0.31% | 0.40% | 0.23% | 0.34% |
| 2012 | 0.28% | 0.34% | 0.24% | 0.26% |
| 2011 | 0.45% | 0.77% | 0.21% | 0.26% |
| 2010 | 0.70% | 1.06% | 0.38% | 0.62% |
| 2009 | 0.96% | 1.18% | 0.80% | 0.87% |
| 2008 | 2.00% | 2.77% | 0.82% | 0.82% |
| 2007 | 4.36% | 4.98% | 3.12% | 3.12% |
| 2006 | 4.81% | 5.12% | 4.40% | 4.67% |
| 2005 | 3.85% | 4.42% | 3.22% | 4.40% |
| 2004 | 2.38% | 3.01% | 1.58% | 3.01% |
| 2003 | 1.65% | 1.93% | 1.23% | 1.91% |
| 2002 | 2.64% | 3.56% | 1.84% | 1.84% |
| 2001 | 3.82% | 4.76% | 2.73% | 3.11% |
| 2000 | 6.25% | 6.81% | 5.35% | 5.35% |
| 1999 | 5.43% | 6.10% | 4.62% | 6.10% |
| 1998 | 5.13% | 5.59% | 4.09% | 4.51% |
| 1997 | 5.99% | 6.45% | 5.71% | 5.72% |
Monthly values. The last 30 years are shown; the chart above has the full history since June 1976.
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Frequently asked questions
What is the current 2-year Treasury yield?
The 2-year Treasury yield was 4.75% in October 2026, up 1.23 points from a year earlier, according to the Board of Governors of the Federal Reserve System.
What was the highest 2-year Treasury yield on record?
Since June 1976, the highest reading was 16.46% in September 1981 and the lowest was 0.12% in February 2021.
Where does this data come from?
The numbers are published by the Board of Governors of the Federal Reserve System and distributed by the Federal Reserve Bank of St. Louis in FRED (series DGS2). They are US government statistics in the public domain. Quotelinks checks for new data every day.
Can I put this 2-year Treasury yield chart on my website?
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