U.S. Treasuries

Track yields, spreads, and the shape of the curve — and learn how to invest directly with Uncle Sam.

Yield Curve

Animated visualization of the U.S. Treasury yield curve shifting across all maturities over any date range.

Yield Spread

TUT, NOB, and 10Y/3M — the spreads that traders and the Fed watch most closely as recession signals.

Yield History

Historical yield data by maturity from the U.S. Treasury — pick any maturity and date range.

Reading the Curve

Normal (upward slope): Long-term yields exceed short-term ones. Markets expect growth and are demanding a premium for locking up capital longer.

Inverted (downward slope): Short-term yields exceed long-term ones. Historically, one of the most reliable leading indicators of recession — the 2-year/10-year inversion has preceded every U.S. recession since 1955.

Flat: Spreads have compressed. Often a transitional signal — either normalization after inversion or the beginning of one.

Why it matters beyond theory

The yield curve doesn't just reflect expectations — it shapes behavior. Mortgage rates, corporate borrowing costs, and bank lending margins are all downstream of it. When the curve steepens or flattens, the ripple effects reach every corner of the credit market.

Invest Directly with Uncle Sam

You don't need a broker to buy Treasuries. TreasuryDirect.gov is the U.S. government's official platform for purchasing Treasury securities directly — no middleman, no fees, no markup.

Through TreasuryDirect you can buy:

T-Bills — Short-term securities (4 weeks to 1 year)
T-Notes — Medium-term (2 to 10 years)
T-Bonds — Long-term (20 to 30 years)
I Bonds — Inflation-protected savings bonds
TIPS — Treasury Inflation-Protected Securities

It's one of the few places where retail investors get the same deal as institutions.