Investors and those following the movement of interest rates look at the movement of Treasury yields as an indicator of things to come. Their rates are considered an important benchmark: Because Treasury securities are backed by the full faith and credit of the U.S. Treasury, they represent the rate at which investment is considered risk-free.

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Treasury securities Updated: 01/22/2020
This week Month ago Year ago
One-Year Treasury Constant Maturity 1.54 1.52 2.59
91-day T-bill auction avg disc rate 1.53 1.54 2.41
182-day T-bill auction avg disc rate 1.53 1.55 2.46
Two-Year Treasury Constant Maturity 1.53 1.63 2.58
Five-Year Treasury Constant Maturity 1.57 1.73 2.57
Ten-Year Treasury Constant Maturity 1.78 1.92 2.74
One-Year CMT (Monthly) 1.55 1.57 2.66
One-Year MTA 2.05 2.15 2.33

Ratings methodology

Since investors in riskier investments command a higher return as compensation, the yields on many bonds and money market instruments are priced at a spread over the corresponding risk-free Treasury rate. Yields on money markets and certificates of deposit are often priced relative to yields on Treasuries of a similar length. Adjustable rate mortgages can be indexed to the one-year Treasury. Fixed mortgage rates are closely linked to movements in long-term Treasury yields, as mortgages are often packaged together and sold as mortgage-backed bonds. Yields on short-term Treasuries can behave differently from yields on longer-term Treasuries.

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