# U.S. Treasury Yield Curve & Duration

Advisory: Descriptive macro data - not investment advice, not a rate forecast. Informational only - not investment advice.

As of 2026-06-17. Pack hash: 8f959414b42fb0a4640fcebdafe7fa960efc3dafe829de64d8e8c1535aff20d7.

## The current curve

As of 2026-06-17, U.S. Treasury constant-maturity yields were 3.83% at 3M, 4.20% at 2Y, 4.49% at 10Y, 4.93% at 30Y. Each value is the daily constant-maturity yield published by the U.S. Treasury via FRED.

## Slope and the 2s10s spread

The 10-year yield sits above the 2-year by 29 bps (an upward-sloping curve). This describes the shape of today's data only; it is not a prediction about future rates or the economy.

FRED also publishes a 10-year-minus-2-year series (T10Y2Y); small differences from the value above reflect different observation dates.

## Interest-rate sensitivity (duration & convexity)

For a par bond priced at each tenor's current yield (semiannual coupon), lmfin computes 2Y: modified duration 1.90 years, convexity 4.6, 10Y: modified duration 7.99 years, convexity 76.3, 30Y: modified duration 15.58 years, convexity 356.4. Mechanically, a 1-percentage-point rise in yield lowers the price of the 30Y par bond by about 15.58% before the (positive) convexity adjustment. These are textbook properties of a par bond at the stated yield; a constant-maturity Treasury yield is an interpolated series, not a single traded coupon bond.

## Curve

| Tenor | Yield | FRED series | As of | Source |
| --- | --- | --- | --- | --- |
| 3M | 3.83% | DGS3MO | 2026-06-17 | https://fred.stlouisfed.org/series/DGS3MO |
| 2Y | 4.20% | DGS2 | 2026-06-17 | https://fred.stlouisfed.org/series/DGS2 |
| 10Y | 4.49% | DGS10 | 2026-06-17 | https://fred.stlouisfed.org/series/DGS10 |
| 30Y | 4.93% | DGS30 | 2026-06-17 | https://fred.stlouisfed.org/series/DGS30 |

## Spreads

| Spread | Value |
| --- | --- |
| 10-year minus 2-year | 29 bps |
| 10-year minus 3-month | 66 bps |
| FRED published 10y-2y | 27 bps |

## Duration & convexity (par bond at current yield)

| Tenor | Modified duration | Convexity |
| --- | --- | --- |
| 10Y | 7.99 years | 76.3 |
| 2Y | 1.90 years | 4.6 |
| 30Y | 15.58 years | 356.4 |

## Provenance

Yields: U.S. Treasury constant-maturity series via FRED. Duration/convexity computed by lmfin (lmfin 0.1.0). Command: lmfin bond --coupon 0.042 --maturity 2.0 --freq 2 --yield 0.042 --json. Evidence note: Yields are grepcent's frozen FRED constant-maturity Treasury observations; duration and convexity are lmfin computations for a par bond priced at each tenor's current yield (semiannual coupon). Descriptive data, not advice.. Pack hash: 8f959414b42fb0a4640fcebdafe7fa960efc3dafe829de64d8e8c1535aff20d7.