US 2-Year Government Bond Yield
US 2-Year Government Bond Yield stood at 4.77% on Oct 15, 2026, according to FRED (Federal Reserve Bank of St. Louis). It is one of the indicators in the Government bond yields table (Value · Daily), with a complete series running from Jun 1, 1976 to Oct 15, 2026. The complete series with an interactive chart, free to download.
This indicator in the Government bond yields table
| Indicator | 15-10-2026 | 14-10-2026 | 13-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | 02-10-2026 | 01-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2-year | 4.77 | 4.82 | 4.79 | 4.8 | 4.75 | 4.77 | 4.79 | 4.84 | 4.83 | 4.78 | |
| 3-year | 4.85 | 4.92 | 4.9 | 4.89 | 4.85 | 4.87 | 4.88 | 4.97 | 4.96 | 4.91 | |
| 5-year | 4.91 | 5 | 5 | 5.02 | 4.99 | 5.03 | 5.03 | 5.06 | 5.06 | 5.01 |
Understanding US 2-Year Government Bond Yield
The two-year maturity measures the annualised nominal yield of US Government bonds with nearly two years remaining until maturity, based on trading price levels. This point typically condenses market expectations for short-term interest rates over the coming years, alongside a premium for price volatility risk associated with longer holding periods. The indicator is neither a two-year lending interest rate for households or corporations nor does it exclude the impact of inflation. Compared to the one-year maturity, it contains greater medium-term expectations; compared to long maturities, the influence of near-term policy outlooks is usually more pronounced.
Inter-session changes demonstrate the repricing of expectations without pointing to a single exclusive cause. Analysis should simultaneously examine spreads against ultra-short maturities and long-term yields. When the two-year yield exceeds longer yields, that section of the curve inverts, serving as a signal of sentiment and expectation rather than a definitive prediction. Holidays create observational gaps, while price volatility causes the yields of sellers exiting before maturity to differ from initial levels.
Frequently asked questions
- Why is the two-year maturity so sensitive to policy expectations?
- This horizon encompasses many future interest rate decisions while remaining less dominated by the long-term term premium than more distant maturities.
- Is a two-year yield higher than longer-term yields something to worry about?
- That represents an inverted curve signal at this comparison point, but it should be evaluated alongside growth, inflation, and credit data.
- Can buyers securely lock in this yield?
- Only close to that assumption if held to maturity to receive all cash flows; selling early introduces price risk.