US ACM Term Premium 3-Year
US ACM Term Premium 3-Year stood at 0.47% in Sep 2026, according to Federal Reserve Bank of New York — ACM Term Premia. It is one of the indicators in the Treasury term premium (ACM) table (Value · Monthly), with a complete series running from Jun 1961 to Sep 2026. The complete series with an interactive chart, free to download.
This indicator in the Treasury term premium (ACM) table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Term premium | |||||||||||
| 3-year maturity | 0.47 | 0.22 | 0.26 | 0.07 | 0.16 | 0.19 | 0.14 | 0.02 | 0.12 | 0.13 | |
| 4-year maturity | 0.52 | 0.3 | 0.34 | 0.12 | 0.23 | 0.25 | 0.19 | 0.08 | 0.21 | 0.21 |
Understanding US ACM Term Premium 3-Year
The US ACM Term Premium 3-Year measures the risk premium demanded by investors holding debt instruments maturing in three years, separating this duration compensation from the expected path of short-term interest rates. It reflects intermediate-term market sentiment regarding macroeconomic stability, fiscal trajectory, and inflation risks spanning a multi-year horizon. Unlike shorter tenors, this measure captures the gradual pricing of uncertainty that begins to stretch beyond immediate policy forecasting windows.
Regular release cadences govern the publication of this series, which is subject to periodic historical revisions as underlying yield curve estimation models are updated. Analysts should evaluate the data by tracking directional shifts over successive observation periods while ignoring transient calendar noise. Historical range comparisons provide the most honest benchmark for determining whether intermediate duration risk is elevated or suppressed.