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: 12/02/2020
This week Month ago Year ago
One-Year Treasury Constant Maturity 0.12 0.14 1.57
91-day T-bill auction avg disc rate 0.09 0.10 1.56
182-day T-bill auction avg disc rate 0.09 0.11 1.57
Two-Year Treasury Constant Maturity 0.17 0.17 1.53
Five-Year Treasury Constant Maturity 0.42 0.39 1.54
Ten-Year Treasury Constant Maturity 0.92 0.90 1.72
One-Year CMT (Monthly) 0.13 0.13 1.57
One-Year MTA 0.62 0.62 2.15

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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