FRED DGS10 — Daily CSV Download (US 10-Year Treasury Yield)

The US 10-year Treasury yield is the benchmark interest rate for the global financial system — the reference point against which mortgages, corporate bonds, and sovereign debt worldwide are priced. This dataset provides daily observations of the constant maturity 10-year rate, sourced directly from the Federal Reserve Bank of St. Louis (FRED series DGS10).

Dataset: US 10-Year Treasury Yield · Updated —

Source: FRED series DGS10 · Federal Reserve Bank of St. Louis

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV and Excel files contain the following columns.
Each row represents one business day.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full dataset is available in CSV and Excel formats — over 16,000 daily observations spanning more than six decades.

FRED Direct CSV Access

The underlying data is published in the Federal Reserve Economic Data (FRED)
database under the series code DGS10.
FRED datasets are commonly accessed using the fredgraph.csv query format:

https://fred.stlouisfed.org/graph/fredgraph.csv?id=DGS10

The raw FRED CSV provides the same daily yield series. The Eco3min dataset mirrors FRED’s DGS10 data with identical values, but packages it in a stable, versionable CSV with consistent column names — designed for direct ingestion in Python, R, or any data pipeline. The URL never changes, making it suitable for use in automated scripts.

Direct CSV Access — Eco3min Structured Dataset

https://eco3min.fr/dataset/us-10y-treasury-yield.csv

This URL returns the complete dataset in CSV format.
It can be used directly in pandas, R, curl, or any data tool.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/us-10y-treasury-yield.csv"
df = pd.read_csv(url, parse_dates=["date"])

# Display first rows
print(df.head())

# Basic statistics
print(df["dgs10"].describe())

# Plot
df.plot(x="date", y="dgs10", title="US 10-Year Treasury Yield", legend=False)

Using the Dataset in R

library(readr)
 
url <- "https://eco3min.fr/dataset/us-10y-treasury-yield.csv"
df <- read_csv(url)
 
head(df)
summary(df$dgs10)

Both examples load the dataset directly from the URL — no download or API key required.

Methodology

The primary data source is the US Treasury Department’s daily yield curve, as reported by the Federal Reserve Board of Governors. The 10-year constant maturity rate (series DGS10) represents the interpolated yield on a theoretical Treasury security with exactly 10 years remaining to maturity. This interpolation method, maintained by the Treasury since 1962, ensures consistency even as individual bond issues mature and roll off.

“Constant maturity” means this is not the yield on a single bond but a derived rate — the Treasury Department fits a yield curve to outstanding securities and reads off the 10-year point. This methodology, documented in the Treasury’s own publications, avoids the distortions that would arise from tracking any individual bond as its maturity shrinks over time.

The dataset reflects nominal yields. To derive the real 10-year yield (net of inflation expectations), the Real 10-Year Treasury Yield composite dataset subtracts CPI year-over-year from this series. Alternatively, the market-implied real rate is observable via TIPS (Treasury Inflation-Protected Securities), though TIPS liquidity premia introduce their own measurement issues — a point documented in Federal Reserve research (Kim and Wright, 2005).

This dataset is updated weekly (Saturday 08:00 UTC) via automated pull from the FRED API. Daily observations reflect the previous business week’s closing rates. Weekend and holiday dates are excluded from the series.

Historical Regimes

1962–1981 — The Great Inflation. The 10-year yield rose from roughly 4% to nearly 16%, tracking the acceleration of US inflation driven by fiscal expansion (Vietnam War, Great Society programs), oil shocks (1973, 1979), and a Federal Reserve that consistently underestimated inflation persistence. By 1981, with Paul Volcker raising the fed funds rate above 20%, the 10-year yield peaked at 15.8% — a level that priced in both realized inflation and a substantial credibility premium for a central bank that had repeatedly failed to contain prices.

1981–2000 — Secular disinflation. As Volcker’s monetary tightening broke inflation expectations, the 10-year yield entered a two-decade decline from 16% toward 5-6%. This period saw a progressive compression of the inflation risk premium as CPI fell from double digits to the 2-3% range. Each business cycle produced a lower peak in long rates — a pattern sometimes described as the “great moderation” in academic literature.

2000–2019 — The zero-bound era. The 10-year yield dropped from 6.5% to below 1.5%, driven by three forces: the Fed’s zero interest rate policy (ZIRP) after 2008, quantitative easing programs (which directly compressed term premia), and a global demand for safe assets from foreign central banks and institutional investors. According to Federal Reserve Bank of New York estimates, QE alone may have reduced the 10-year term premium by 100-150 basis points at its peak effect. The Fed balance sheet grew from $900 billion to $4.5 trillion over this period.

2020–2022 — Pandemic shock and reversal. The 10-year yield briefly touched 0.52% in August 2020 — its all-time low — as the Fed cut rates to zero and launched unlimited QE in response to COVID-19. The subsequent reversal was the fastest in modern history: from 0.52% to above 4.2% in barely two years, as post-pandemic inflation surged past 9% (June 2022, BLS data) and the Fed executed its most aggressive tightening cycle since the early 1980s.

2023–present — Structural repricing. With the 10-year yield trading in the 4-5% range, the market appears to be pricing a regime of higher neutral rates than the 2010s. The term premium — which had been negative for much of the post-GFC period — has turned positive according to ACM model estimates from the New York Fed. Whether this repricing is permanent or cyclical remains the central question in fixed income markets. The 10Y-2Y yield curve spread and 10-year breakeven inflation provide complementary perspectives on this structural shift.

Related Macroeconomic Datasets

The 10-year yield is the anchor of the global fixed income system. It decomposes into two components: the real rate and inflation expectations. Cross-referencing with other maturities reveals the yield curve shape — one of the strongest recession predictors available. Comparing with the mortgage rate shows how Treasury yields propagate into the real economy.

Related Research

The 10-year yield is the input to multiple Eco3min analytical frameworks: real interest rate calculation, CAPE valuation analysis, yield curve inversion detection, and the liquidity decomposition. The studies below use this series as a core building block.

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.
Explore all available datasets including inflation, interest rates, equity returns,
credit spreads, and currency indicators.

Explore the Eco3min Dataset Hub

Sources

• Board of Governors of the Federal Reserve System — H.15 Selected Interest Rates, 10-Year Treasury Constant Maturity Rate
• Federal Reserve Bank of St. Louis — FRED database, series DGS10

Suggested Citation

Eco3min Research. (2026). US 10-Year Treasury Yield (1962–2026).<br> https://eco3min.fr/en/us-10y-treasury-yield-dataset/