US10Y— 10-Year Treasury Yield
CBOE 10-Year US Treasury Note Yield · Live
Chart
Why the 10-Year Yield Matters
The 10-year is the benchmark rate that ripples through the whole economy - it helps set the price of:
Mortgage rates
30-year mortgages track the 10-year closely.
Stock valuations
Higher yields lower the value of future profits (P/E).
The US dollar
Rising yields tend to strengthen the dollar.
Savings & CDs
Sets the floor for “risk-free” returns you can earn.
About the 10-Year Treasury Yield
What is the 10-year Treasury yield?
The 10-year Treasury yield is the interest rate the US government pays to borrow money for a decade. Since US government debt is treated as risk-free, this yield is the single most-watched interest rate in the world - the benchmark against which mortgages, corporate bonds, and even stock valuations are priced.
What moves it?
Three forces: inflation expectations, Federal Reserve policy, and safe-haven demand. Hotter inflation or a hawkish Fed pushes the yield up as investors demand more to lend long-term; fear and flight-to-safety pull it down as buyers pile into Treasuries. Because price and yield move in opposite directions, heavy buying lowers the yield and heavy selling raises it.
Why it matters for stocks
The 10-year is the discount rate for future earnings. When it rises, tomorrow’s profits are worth less today, which squeezes valuations - hardest on high-growth names whose value sits far in the future. It’s also competition: when a risk-free bond yields 4-5%, investors demand more from stocks to justify the extra risk. That’s why a spike in the 10-year so often triggers a selloff.
The yield curve (2Y vs 10Y vs 30Y)
Compare the 10-year with the 2-year and 30-year and you get the “yield curve.” Normally longer maturities pay more. When short-term yields climb above the 10-year - an inverted curve - it has preceded every US recession in recent history, which is why investors watch the spread so closely.
Frequently Asked Questions
What is the 10-year Treasury yield today?
As of September 16, 2026, the 10-year US Treasury yield is around 5.01%, up 0.20% on the day. The rate on this page updates in real time during market hours.
What is the 10-year Treasury yield?
It is the interest rate the US government pays to borrow money for 10 years. Because US Treasuries are considered risk-free, the 10-year yield is the benchmark "risk-free rate" that almost every other interest rate - and asset price - is measured against.
What moves the 10-year Treasury yield?
Mainly inflation expectations, Federal Reserve policy, and demand for safe assets. When investors expect higher inflation or a hawkish Fed, they sell bonds and the yield rises. In times of fear, they buy Treasuries as a safe haven, pushing the yield down.
Why does the 10-year yield matter for stocks?
The 10-year yield is the discount rate for future profits. When it rises, those future earnings are worth less today, which compresses stock valuations (P/E ratios) - especially for high-growth companies. It also competes with stocks: a higher risk-free yield makes bonds more attractive versus equities.
Why does bond yield go up when the price goes down?
A bond pays a fixed coupon. If its market price falls, that fixed payment represents a larger percentage of the lower price - so the yield rises. Price and yield always move in opposite directions.
What is the difference between the 2-year, 10-year and 30-year yields?
They are the same idea over different time horizons. The 2-year tracks near-term Fed expectations, the 10-year is the market benchmark, and the 30-year reflects long-run inflation and growth views. When short-term yields rise above long-term ones (an "inverted yield curve"), it has historically warned of recession.
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Data via Yahoo Finance (CBOE ^TNX), updated in real time during market hours. For informational purposes only - not financial advice.