Federal Reserve Economic Data

FRED Economic Data, St. Louis FED

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Line 1 - 10-Year Breakeven Inflation Rate-10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity
Line 1
(a) 10-Year Breakeven Inflation Rate, Percent, Not Seasonally Adjusted (T10YIE)
The breakeven inflation rate represents a measure of expected inflation derived from 10-Year Treasury Constant Maturity Securities (BC_10YEAR) and 10-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_10YEAR). The latest value implies what market participants expect inflation to be in the next 10 years, on average. 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 Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Select a date that will equal 100 for your custom index:
  Enter date as YYYY-MM-DD
(b) 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity, Percent, Not Seasonally Adjusted (T10Y2Y)
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 Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield). Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEAR) and 2-Year Treasury Constant Maturity (BC_2YEAR). Both underlying series are published at the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

Select a date that will equal 100 for your custom index:
  Enter date as YYYY-MM-DD
to

Write a custom formula to transform one or more series or combine two or more series.

You can begin by adding a series to combine with your existing series.

Type keywords to search for data

    Now create a custom formula to combine or transform the series.

    For example, invert an exchange rate by using formula 1/a, where “a” refers to the first FRED data series added to this line. Or calculate the spread between 2 interest rates, a and b, by using the formula a - b.

    Use the assigned data series variables (a, b, c, etc.) together with operators (+, -, *, /, ^, etc.), parentheses and constants (1, 1.5, 2, etc.) to create your own formula (e.g., 1/a, a-b, (a+b)/2, (a/(a+b+c))*100). As noted above, you may add other data series to this line before entering a formula.

    Finally, you can change the units of your new series.

    Select a date that will equal 100 for your custom index:
        Enter date as YYYY-MM-DD

    Line 1 - 10-Year Breakeven Inflation Rate-10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity
    Line 2
    (a) Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed, Percent, Not Seasonally Adjusted (DFII20)
    H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology). For questions on the data, please contact the data source (https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/h15/%). For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).</p>

    Select a date that will equal 100 for your custom index:
      Enter date as YYYY-MM-DD
    to

    Write a custom formula to transform one or more series or combine two or more series.

    You can begin by adding a series to combine with your existing series.

    Type keywords to search for data

      Now create a custom formula to combine or transform the series.

      For example, invert an exchange rate by using formula 1/a, where “a” refers to the first FRED data series added to this line. Or calculate the spread between 2 interest rates, a and b, by using the formula a - b.

      Use the assigned data series variables (a, b, c, etc.) together with operators (+, -, *, /, ^, etc.), parentheses and constants (1, 1.5, 2, etc.) to create your own formula (e.g., 1/a, a-b, (a+b)/2, (a/(a+b+c))*100). As noted above, you may add other data series to this line before entering a formula.

      Finally, you can change the units of your new series.

      Select a date that will equal 100 for your custom index:
          Enter date as YYYY-MM-DD

      Line 1 - 10-Year Breakeven Inflation Rate-10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity
      Line 3
      (a) 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity, Percent, Not Seasonally Adjusted (T10Y2Y)
      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 Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield). Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEAR) and 2-Year Treasury Constant Maturity (BC_2YEAR). Both underlying series are published at the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

      Select a date that will equal 100 for your custom index:
        Enter date as YYYY-MM-DD
      to

      Write a custom formula to transform one or more series or combine two or more series.

      You can begin by adding a series to combine with your existing series.

      Type keywords to search for data

        Now create a custom formula to combine or transform the series.

        For example, invert an exchange rate by using formula 1/a, where “a” refers to the first FRED data series added to this line. Or calculate the spread between 2 interest rates, a and b, by using the formula a - b.

        Use the assigned data series variables (a, b, c, etc.) together with operators (+, -, *, /, ^, etc.), parentheses and constants (1, 1.5, 2, etc.) to create your own formula (e.g., 1/a, a-b, (a+b)/2, (a/(a+b+c))*100). As noted above, you may add other data series to this line before entering a formula.

        Finally, you can change the units of your new series.

        Select a date that will equal 100 for your custom index:
            Enter date as YYYY-MM-DD

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        Line 1
        10-Year Breakeven Inflation Rate-10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity
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        Line 2
        Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed
        Line details & color

        Line style, thickness, color and position


        Line 3
        10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity
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        Line style, thickness, color and position



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        Notes

        10-Year Breakeven Inflation Rate  (T10YIE)

        Source: Federal Reserve Bank of St. Louis  

        Release: Interest Rate Spreads

        Units:  Percent, Not Seasonally Adjusted

        Frequency:  Daily

        Notes:

        The breakeven inflation rate represents a measure of expected inflation derived from 10-Year Treasury Constant Maturity Securities (BC_10YEAR) and 10-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_10YEAR). The latest value implies what market participants expect inflation to be in the next 10 years, on average.
        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 Department.

        Suggested Citation:

        Federal Reserve Bank of St. Louis, 10-Year Breakeven Inflation Rate [T10YIE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/T10YIE, April 15, 2025.

        10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity  (T10Y2Y)

        Source: Federal Reserve Bank of St. Louis  

        Release: Interest Rate Spreads

        Units:  Percent, Not Seasonally Adjusted

        Frequency:  Daily

        Notes:

        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 Department.
        Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEAR) and 2-Year Treasury Constant Maturity (BC_2YEAR). Both underlying series are published at the U.S. Treasury Department.

        Suggested Citation:

        Federal Reserve Bank of St. Louis, 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity [T10Y2Y], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/T10Y2Y, April 15, 2025.

        Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed  (DFII20)

        Source: Board of Governors of the Federal Reserve System (US)  

        Release: H.15 Selected Interest Rates  

        Units:  Percent, Not Seasonally Adjusted

        Frequency:  Daily

        Notes:

        For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes and the Treasury Yield Curve Methodology.

        For questions on the data, please contact the data source. For questions on FRED functionality, please contact us here.

        Suggested Citation:

        Board of Governors of the Federal Reserve System (US), Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed [DFII20], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DFII20, April 15, 2025.

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        H.15 Selected Interest Rates

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        10-Year Breakeven Inflation Rate

        Monthly, Not Seasonally Adjusted

        10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

        Monthly, Not Seasonally Adjusted

        Market Yield on U.S. Treasury Securities at 20-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed

        Annual, Not Seasonally Adjusted Monthly, Not Seasonally Adjusted Weekly, Not Seasonally Adjusted

        Related Categories

        Interest Rate Spreads Interest Rates Money, Banking, & Finance Treasury Inflation-Indexed Securities Treasury Constant Maturity

        Releases

        More Series from Interest Rate Spreads More Series from H.15 Selected Interest Rates

        Tags

        Spread 10-Year Daily Interest Rate Interest St. Louis Fed Inflation Rate Copyrighted: Citation Required Nation Not Seasonally Adjusted United States of America 2-Year Yield Curve Maturity Treasury 20-Year Treasury Inflation-Indexes Securities (TIPS) H.15 Selected Interest Rates Securities Real Board of Governors Public Domain: Citation Requested

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