US: 10-year bonds yield 4.99% a year; inflation-protected ones 2.64% above inflation — Macroscope

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US: 10-year bonds yield 4.99% a year; inflation-protected ones 2.64% above inflation
September 2026: monthly averages, % per year. Quoted yields are not bond price changes or an investor’s realised return.
Source: Federal Reserve Board: H.15, direct sourceOpen on the chart →
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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.
- Nominal % per year
  September 2026: 4.99%
  Federal Reserve Board: H.15, direct source
- Real % per year
  September 2026: 2.64%
  Federal Reserve Board: H.15, direct source
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.
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How have yields changed since 2022?

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