--- title: "10-Year Treasury Yield History" description: "The 10-year U.S. Treasury yield history at selected year ends from 1980 to 2025, including the 1981 peak of 15.84% and the 2020 COVID low of 0.52%." canonical: https://www.getswoopr.com/tables/bonds/10-year-treasury-yield-history/ source: "Swoopr Investment: https://www.getswoopr.com" --- ## Direct Answer > The 10-year U.S. Treasury yield is the benchmark long-term interest rate in the United States. Its daily constant-maturity rate peaked at 15.84% on September 30, 1981, fell to a record low of 0.52% on August 4, 2020, and closed 2024 at 4.58% and 2025 at 4.18%. This table lists year-end values; the [annual averages](https://www.getswoopr.com/research/data/10-year-treasury-yield-history/) are on the Investment Data Library page, and the two measure different things. # 10-Year Treasury Yield History ## 10-Year Treasury Yield at Year End (Selected Years) | Year | 10-Yr Yield (Year End) | | --- | --- | | 1980 | 12.43% | | 1981 | 13.98% | | 1982 | 10.36% | | 1985 | 9.00% | | 1990 | 8.08% | | 1995 | 5.58% | | 2000 | 5.12% | | 2005 | 4.39% | | 2007 | 4.03% | | 2008 | 2.25% | | 2009 | 3.84% | | 2010 | 3.29% | | 2011 | 1.88% | | 2012 | 1.76% | | 2013 | 3.03% | | 2014 | 2.17% | | 2015 | 2.27% | | 2016 | 2.45% | | 2017 | 2.41% | | 2018 | 2.69% | | 2019 | 1.92% | | 2020 | 0.93% | | 2021 | 1.52% | | 2022 | 3.88% | | 2023 | 3.88% | | 2024 | 4.58% | | 2025 | 4.18% | ![Line chart of 10-Year Treasury Yield at Year End (Selected Years), 1980 to 2025. 10-Yr Yield (Year End) starts at 12.43%, peaks at 13.98% in 1981, falls to a low of 0.93% in 2020 and ends at 4.18% in 2025.](https://www.getswoopr.com/images/charts/tables-bonds-10-year-treasury-yield-history-1.webp) *10-Year Treasury Yield at Year End (Selected Years), charted from the table above. Select the chart to open it full size.* Source: [St. Louis Fed FRED: 10-Year Treasury Rate](https://fred.stlouisfed.org/series/DGS10). Last verified: October 2026, year-end values checked against FRED series DGS10. ## Frequently asked questions What does the 10-year Treasury yield tell us? The 10-year Treasury yield is the risk-free rate benchmark for the U.S. economy. It reflects: (1) Federal Reserve policy (short-term rates influence but don't control the 10-year); (2) inflation expectations (higher expected inflation pushes yields up because investors demand compensation); (3) economic growth outlook (stronger growth pushes yields up); (4) global capital flows (international investors buying Treasuries push yields down). The 10-year yield directly affects mortgage rates (30-year fixed mortgages track the 10-year), corporate borrowing costs, and equity valuations (higher yields mean a higher discount rate, reducing stock values). Why did the 10-year yield spike in 2022? The 10-year yield rose from 1.52% (end 2021) to 3.88% (end 2022), a 236 basis point rise in one year. The cause: the Federal Reserve raised the federal funds rate by 425 basis points in 2022 to combat 9.1% CPI inflation, the highest since 1981. The Fed's aggressive rate hikes signaled that inflation was a sustained problem, pushing long-term yields higher as investors demanded inflation compensation. The full impact: the 30-year Treasury fell -39%, the Bloomberg US Aggregate Bond Index fell -13%, and mortgage rates doubled from approximately 3% to approximately 7%. How does the 10-year yield affect stock valuations? Higher 10-year yields reduce stock valuations through the discount rate mechanism. In discounted cash flow (DCF) models, future earnings are discounted at a rate that includes the risk-free rate (10-year Treasury). Higher risk-free rates mean future earnings are worth less in today's dollars. This effect is largest for long-duration stocks (high-growth companies with earnings far in the future). Technology stocks (long-duration) fell more than value/dividend stocks (shorter duration) in 2022 precisely because of this mechanism. The equity risk premium (expected stock return minus 10-year yield) also determines relative attractiveness: when yields rise to 4-5%, stocks become less relatively attractive versus risk-free bonds. ## Worked Example: What a Year-End Move Does to a Note Bought at Par Suppose a ten-year note was bought at par at the end of 2021 with a 1.52% coupon, the year-end yield in the table. By the end of 2022 the yield was 3.88%. Repricing the note's remaining cash flows at 3.88% (annual coupons, ten years left, for arithmetic clarity) gives a price of about 80.7 per 100 of face: a 19.3% price fall from a 236 basis point rise, with only 1.52 points of coupon income to set against it. That is the 2022 bond-market loss the FAQ describes, in one position. The same arithmetic runs the other way. A note bought at par at the end of 2007 with a 4.03% coupon, repriced at the end-2008 yield of 2.25%, is worth about 115.8: a 15.8% gain in a year when stocks fell by more than a third, which is the flight-to-safety behaviour that made Treasuries the diversifier of that cycle. The sensitivity in both cases is duration: the lower the starting yield, the longer the duration and the larger the price move per point of yield change, so the 2021 note was more exposed to a given rise than the 2007 note would have been. ## Cite This Page If you reference this table in your own work, use the following citation format and add the date you accessed it: > Swoopr Editorial Team. (2026). *10-Year Treasury Yield History*. Swoopr Investment. [https://www.getswoopr.com/tables/bonds/10-year-treasury-yield-history/](https://www.getswoopr.com/tables/bonds/10-year-treasury-yield-history/) Check the figures against the primary sources listed under References before you rely on or republish them; the series they come from are revised. ## References - [St. Louis Fed FRED: 10-Year Treasury Rate](https://fred.stlouisfed.org/series/DGS10) [Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) produces independent investment education and research content. Corrections: [corrections policy](https://www.getswoopr.com/legal/corrections-policy/). Standards: [editorial standards](https://www.getswoopr.com/legal/editorial-policy/).