T10Y3M10y–3m Treasury Spread (T10Y3M) — Current Value & Historical Data
FRED series title: 10-Year Treasury Constant Maturity Minus 3-Month Treasury Constant Maturity
10y–3m Treasury Spread (T10Y3M) Chart & Data Table
Showing 2,500 of 11,196 observations. Pick "All" to see the full history (1982-01-04–2026-10-09).
Gray bands: NBER recessions·Dashed lines: key policy events
What is 10y–3m Treasury Spread (T10Y3M)?
Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEAR) and 3-Month Treasury Constant Maturity (BC_3MONTH).
Current 10y–3m Treasury Spread (T10Y3M) Value
As of October 9, 2026, the current 10-year treasury constant maturity minus 3-month treasury constant maturity is 0.99 Percent. This is the most recent observation available for this series, updated daily.
10y–3m Treasury Spread Historical Trend
10-Year Treasury Constant Maturity Minus 3-Month Treasury Constant Maturity remained flat essentially unchanged day-over-day. Over the past year, 10-year treasury constant maturity minus 3-month treasury constant maturity rose 518.75% from October 2025. In the series' tracked history, the highest recorded value was 5.18 (August 1982), and the lowest was -1.89 (May 2023).
Methodology & Source
Source
Federal Reserve Board
Frequency
Daily
Units
Percent
Notes
Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEAR) and 3-Month Treasury Constant Maturity (BC_3MONTH). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Depart...
Frequently Asked Questions About 10y–3m Treasury Spread (T10Y3M)
What is the current 10-year treasury constant maturity minus 3-month treasury constant maturity?
As of October 9, 2026, 10-year treasury constant maturity minus 3-month treasury constant maturity stands at 0.99 Percent.
Where does 10-year treasury constant maturity minus 3-month treasury constant maturity data come from?
10-Year Treasury Constant Maturity Minus 3-Month Treasury Constant Maturity data is sourced from the Federal Reserve Economic Data (FRED) system and related U.S. government agencies. Data quality and historical coverage vary by series.
How often is 10-year treasury constant maturity minus 3-month treasury constant maturity updated?
This series is updated according to its publication schedule. Check FRED or the source agency for the most current release calendar.
What is the historical high and low for 10-year treasury constant maturity minus 3-month treasury constant maturity?
In the available data, the highest value was 5.18 Percent in August 1982, and the lowest was -1.89 Percent in May 2023.
How has 10-year treasury constant maturity minus 3-month treasury constant maturity changed over the past year?
Over the past year, 10-year treasury constant maturity minus 3-month treasury constant maturity increased 518.75%.
See 10y–3m Treasury Spread in context
T10Y3M is tracked on the Interest Rates dashboard, alongside related indicators and historical context.
View the Interest Rates dashboard →Related government-spending dashboards
How 10y–3m Treasury Spread connects to the federal budget across GOVSPENDING.ORG:
Federal Debt
Total public debt, debt held by the public, and intragovernmental holdings.
Receipts vs Outlays
Federal revenue, spending, and the resulting surplus or deficit over time.
Congressional Activity
Recent legislation, appropriations, and fiscal-related bills in Congress.
Interest Expense vs Revenue
How rising debt service costs crowd out federal spending as a share of receipts over time.
Revenue Composition
Federal receipts broken down by source — individual income, corporate, social insurance, excise taxes, and customs duties as shares of total revenue.
Agency Spending (FY 2019 vs FY 2025)
Net outlays by federal agency for FY 2019 and FY 2025, from the Treasury Monthly Treasury Statement. Both nominal and inflation-adjusted comparisons.