2-year Treasury yield, 1976 to 2026
2-year Treasury yield stood at 4.18% in 2026, up 7bp on the previous period.
The latest reading is 4.11 percent, for June 2026, against 4 percent in May 2026. The series is monthly (FRED series DGS2) and runs from June 1976.
How it is measured
The annualized return on a two-year loan to the US government, from the Treasury's daily par yield curve. The two-year sits at the policy end of the curve: it moves almost one-for-one with where markets expect the federal funds rate to travel over the next two years. The data reaches us through FRED, the Federal Reserve Bank of St. Louis's data service, and originates with the US Treasury's daily par yield curve.
What the curve shows
The window runs from 0.12 percent (February 2021) to 16.46 percent (September 1981). Traders watch this series as a running referendum on Federal Reserve policy: it typically moves before the Fed does, pricing decisions in advance.
Why do bond prices fall when yields rise?
What moves this rate?
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