US: 30-year bonds yield 5.37% a year, 2-year bonds 4.65%
September 2026: monthly averages, % per year. Quoted yields are not bond price changes or an investor’s realised return.
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What the market required for lending at different maturities and terms.
Each bar is a distinct yield, not part of a total.
- 2 years % per year
September 2026: 4.65%
- 10 years % per year
September 2026: 4.99%
- 30 years % per year
September 2026: 5.37%
The annual axis selects the last published month of each year, labelled with its actual date. The current year is incomplete; this is neither a full-year mean nor a live quote. Monthly Federal Reserve H.15 yields; spreads subtract matched months. Yields are not portfolio returns; inflation compensation includes risk and liquidity premiums.
The nominal/TIPS difference includes risk and liquidity premiums as well as inflation expectations.
A question for this picture
How have yields changed since 2022?