Name: European Union Government Bonds Yield
Creator: European Central Bank (ECB Data Portal)
License: https://creativecommons.org/licenses/by/4.0/

The Euro area AAA-rated government bond yield curve spans eleven maturities from 3 months to 30 years, recorded on each working day since September 2004.

Latest reading

10 years stood at 3.39 %/year in Sep 2, 2026. That is unchanged from Sep 1, 2026 and +0.5 pp from a year earlier. The series on this page is daily and runs from Sep 6, 2004 to Sep 2, 2026. Source: European Central Bank (ECB Data Portal).

Latest: 3.39 %/year; Sep 2, 2026
vs previous period: 0.0 pp; Sep 1, 2026
vs a year earlier: +0.5 pp

Look up any date

Pick a date between Sep 6, 2004 and Sep 2, 2026 to see every series in this table on that day. If there is no reading that day (weekend, holiday, or a weekly release), the last reading before it is shown.

About this data

The Euro area AAA-rated government bond yield curve spans eleven maturities from 3 months to 30 years, recorded on each working day since September 2004. The ECB constructs this curve using the Svensson model based on secondary market prices, making it the benchmark risk-free reference for the region. The 10-year minus 2-year spread is the most closely watched cyclical indicator: an inverted curve (10-year lower than 2-year) typically precedes a recession. When reading the shape of the curve, one must fix a SINGLE day before taking the value for each maturity—concatenating the end points of eleven series would yield a mismatched curve because maturities do not always have data for the same day. The table provides two spreads, 10-year minus 3-month and 10-year minus 2-year (calculated from exact days where data for both maturities are available), along with four instantaneous forward interest rate levels—the market-priced rate for overnight borrowing at a future point in time, rather than an average from now until then like spot yields; these are the series that reflect expectations for ECB policy. Source: European Central Bank (ECB Data Portal).

Indicator	02-09-2026	01-09-2026	31-08-2026	28-08-2026	27-08-2026	26-08-2026	25-08-2026	24-08-2026	21-08-2026	20-08-2026	19-08-2026	18-08-2026	17-08-2026	14-08-2026	13-08-2026	12-08-2026	11-08-2026	10-08-2026	07-08-2026	06-08-2026	05-08-2026	04-08-2026	03-08-2026	31-07-2026	30-07-2026	29-07-2026	28-07-2026	27-07-2026	24-07-2026	23-07-2026	22-07-2026
3 months	2.43	2.42	2.42	2.41	2.42	2.42	2.4	2.42	2.4	2.39	2.37	2.34	2.36	2.39	2.37	2.38	2.38	2.32	2.33	2.26	2.27	2.23	2.3	2.38	2.4	2.37	2.38	2.35	2.35	2.36	2.33
6 months	2.58	2.56	2.55	2.53	2.53	2.52	2.51	2.53	2.51	2.52	2.49	2.48	2.48	2.5	2.47	2.48	2.48	2.44	2.43	2.39	2.4	2.38	2.43	2.5	2.5	2.48	2.48	2.47	2.48	2.49	2.46
1 year	2.76	2.73	2.71	2.68	2.67	2.65	2.65	2.68	2.65	2.67	2.64	2.64	2.62	2.63	2.59	2.61	2.61	2.59	2.56	2.55	2.56	2.55	2.58	2.65	2.61	2.62	2.61	2.62	2.64	2.66	2.62
2 years	2.91	2.88	2.86	2.81	2.79	2.76	2.75	2.8	2.76	2.79	2.78	2.78	2.74	2.73	2.69	2.7	2.71	2.72	2.67	2.67	2.67	2.66	2.7	2.76	2.71	2.73	2.71	2.73	2.77	2.8	2.76
3 years	2.97	2.93	2.91	2.85	2.83	2.8	2.79	2.84	2.81	2.84	2.84	2.83	2.78	2.77	2.73	2.74	2.75	2.77	2.71	2.71	2.7	2.69	2.75	2.8	2.76	2.77	2.75	2.77	2.82	2.85	2.81
5 years	3.06	3.03	3.01	2.94	2.93	2.9	2.89	2.94	2.92	2.93	2.94	2.93	2.88	2.86	2.83	2.83	2.84	2.86	2.81	2.8	2.79	2.78	2.84	2.89	2.86	2.86	2.83	2.85	2.9	2.93	2.89
7 years	3.19	3.15	3.14	3.07	3.07	3.04	3.03	3.07	3.06	3.07	3.07	3.07	3.02	3	2.95	2.96	2.97	2.99	2.95	2.94	2.93	2.93	2.97	3.02	2.99	2.98	2.96	2.97	3.01	3.04	3.01
10 years	3.39	3.36	3.34	3.28	3.28	3.25	3.24	3.28	3.27	3.28	3.28	3.29	3.24	3.21	3.16	3.17	3.18	3.2	3.15	3.15	3.15	3.15	3.19	3.23	3.2	3.18	3.16	3.17	3.21	3.22	3.2
15 years	3.65	3.61	3.6	3.54	3.54	3.51	3.51	3.55	3.54	3.55	3.54	3.56	3.52	3.48	3.42	3.43	3.44	3.46	3.42	3.41	3.42	3.42	3.45	3.49	3.46	3.43	3.41	3.42	3.46	3.47	3.46
20 years	3.78	3.76	3.74	3.69	3.69	3.66	3.66	3.69	3.69	3.69	3.68	3.71	3.67	3.64	3.57	3.57	3.58	3.61	3.57	3.56	3.56	3.56	3.6	3.63	3.61	3.56	3.56	3.56	3.59	3.61	3.6
30 years	3.78	3.79	3.78	3.73	3.73	3.7	3.7	3.73	3.72	3.73	3.71	3.74	3.71	3.68	3.63	3.62	3.63	3.65	3.62	3.6	3.6	3.59	3.63	3.65	3.64	3.6	3.6	3.59	3.62	3.65	3.65
10-year – 3-month spread	0.96	0.93	0.92	0.87	0.86	0.83	0.84	0.86	0.87	0.88	0.91	0.95	0.89	0.82	0.79	0.78	0.8	0.88	0.82	0.89	0.88	0.92	0.88	0.85	0.8	0.8	0.78	0.81	0.86	0.87	0.87
10-year – 2-year spread	0.48	0.48	0.48	0.47	0.49	0.49	0.49	0.48	0.51	0.49	0.5	0.51	0.51	0.48	0.46	0.46	0.47	0.48	0.49	0.47	0.48	0.48	0.48	0.47	0.49	0.44	0.45	0.44	0.44	0.42	0.44
1-year spot maturity	3.03	2.98	2.96	2.9	2.87	2.83	2.83	2.89	2.84	2.89	2.87	2.89	2.83	2.81	2.77	2.78	2.79	2.82	2.74	2.78	2.77	2.78	2.8	2.86	2.78	2.82	2.79	2.82	2.87	2.9	2.86
2-year spot maturity	3.07	3.04	3.01	2.93	2.91	2.87	2.86	2.92	2.89	2.92	2.93	2.92	2.85	2.83	2.8	2.8	2.82	2.85	2.79	2.79	2.77	2.75	2.83	2.87	2.82	2.84	2.81	2.83	2.9	2.95	2.91
5-year spot maturity	3.34	3.31	3.29	3.23	3.24	3.21	3.2	3.24	3.24	3.23	3.24	3.24	3.2	3.17	3.11	3.12	3.13	3.15	3.11	3.1	3.1	3.1	3.14	3.18	3.16	3.12	3.11	3.11	3.15	3.17	3.15
10-year spot maturity	4.03	3.99	3.98	3.92	3.93	3.9	3.91	3.93	3.93	3.94	3.92	3.97	3.93	3.88	3.79	3.81	3.82	3.85	3.8	3.8	3.81	3.83	3.85	3.88	3.85	3.79	3.79	3.79	3.82	3.82	3.82