DGS30: Daily 30-Year US Treasury Constant Maturity Yield from FRED (1977–2026)

The DGS30 series, published daily by the Federal Reserve via FRED, tracks the constant-maturity yield of the 30-year US Treasury bond since February 1977 — over 12,000 daily observations through 2026. DGS30 is the global benchmark for the longest segment of the US sovereign curve and the discount rate that prices pension liabilities, insurance reserves, mortgage-backed security duration, and long-dated corporate debt.

Dataset: US 30-Year Treasury Yield (1977–2026) · Updated 2026-07-31

Source: FRED series DGS30 · Federal Reserve Bank of St. Louis

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV and Excel files contain the following columns.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full DGS30 dataset is available in CSV and Excel formats.

FRED Direct CSV Access

The underlying data is available from FRED under series code DGS30:

https://fred.stlouisfed.org/graph/fredgraph.csv?id=DGS30

Direct CSV Access — Eco3min Structured Dataset

https://eco3min.fr/dataset/us-30y-treasury-yield.csv

This URL returns the complete dataset in CSV format with stable column names. 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-30y-treasury-yield.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.head())
print(df["yield_30y"].describe())

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/us-30y-treasury-yield.csv"
df <- read_csv(url)

head(df)
summary(df$yield_30y)

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

Methodology

DGS30 is a constant-maturity yield derived by the US Treasury from the daily Treasury yield curve fit to outstanding marketable securities. The constant-maturity methodology interpolates a hypothetical 30-year yield from the observable on-the-run and off-the-run universe. The Federal Reserve publishes the resulting series daily in its H.15 statistical release, and FRED mirrors the same observations under the code DGS30.

An important methodological discontinuity: the US Treasury suspended new 30-year bond issuance between February 2002 and February 2006. During that window, DGS30 was either missing or extrapolated using off-the-run securities, with reduced reliability flagged in the H.15 release notes. Observations are end-of-day quotes; the series is not seasonally adjusted and is not revised once published.

This Eco3min dataset is updated weekly (Saturday 08:00 UTC) via automated pull from the FRED API.

Data Quality & Provider Notes

DGS30 is one of the most reliable high-frequency series in the FRED catalog: a single source (US Treasury via Federal Reserve H.15), no revisions, no seasonal adjustment, no methodological discontinuity since 2006. Practical caveats relate to release latency, gap handling and alternative providers.

• Release latency. The Federal Reserve publishes H.15 with the prior business day’s data around 4:15 p.m. ET; FRED ingests it within minutes. Eco3min mirrors the FRED endpoint with a weekly Saturday pull, so the dashboard typically lags the FRED feed by up to one week between scheduled refreshes.
• Revisions policy. DGS30 is not revised after publication — what FRED shows for a given date today is what was published that evening. Vintage analysis can therefore use the current download as a faithful real-time series.
• Alternative sources. Bloomberg (USGG30YR), Refinitiv/LSEG (US30YT=RR), and Haver Analytics distribute the same H.15 constant-maturity yield with no material differences beyond formatting and licensing. ALFRED preserves vintage versions for real-time research.
• Known gaps. Weekends and US federal holidays are excluded. The most material gap is the 30-year bond discontinuation window (February 2002 – February 2006), during which FRED provides extrapolated values flagged in the H.15 release notes — they must be handled explicitly in any rolling computation.

For any analysis spanning the 2002–2006 window, verify how the gap is treated before computing rolling statistics, percentile ranks or regime classifications.

Common Pitfalls When Using DGS30

DGS30 is widely cited but several recurring interpretation errors distort the signal — especially when the 30-year is compared to shorter maturities or to historical regimes that pre-date modern central bank balance sheets.

1. Confusing yield and price. DGS30 is a yield-to-maturity quote, not a price. Bond prices move inversely to yields, and the modified duration of a 30-year bond is roughly six times that of a 5-year — a 100 basis point move in DGS30 is a very different P&L event from the same move in DGS2. Users often equate “yield up 100 bps” with a fixed loss without weighting by duration.
2. Ignoring the term premium component. DGS30 reflects expected future short rates plus a term premium that has ranged from deeply negative (2016–2021) to clearly positive (1980s, 2024–2026). Reading DGS30 movements purely as Fed expectations misses the duration-risk repricing channel that frequently dominates long-end moves.
3. Treating the 2002–2006 gap as continuous data. The 30-year bond was discontinued for four years. Any rolling statistic, percentile rank or z-score that ignores this gap will produce artefacts around 2002 and 2006 — the extrapolated values in that window are not interchangeable with observed quotes.
4. Comparing DGS30 across regimes without an inflation adjustment. A 7% nominal yield in 1985 and a 7% nominal yield in 2026 reflect very different real-rate environments. For cross-regime comparison, deflate DGS30 by realised or breakeven inflation rather than reading the nominal level in isolation.

Historical Regimes

1977–1981 — Great Inflation peak. DGS30 climbed from roughly 7.5% in 1977 to over 14% by mid-1981 as the Federal Reserve under Paul Volcker tightened aggressively to break the inflation regime. The 30-year carried both a high inflation expectation and a record term premium during this window.

1981–2000 — Long disinflation bull market. DGS30 trended steadily lower from above 14% to roughly 6% by the late 1990s as inflation expectations normalised and the term premium compressed. The 30-year bond delivered one of the longest positive real-return cycles in modern fixed-income history, paralleling the path of the 10-year yield.

2000–2008 — Greenspan conundrum era. DGS30 remained range-bound between 4% and 6% even as the Federal Reserve raised the policy rate from 1% to 5.25%. Then-Chair Greenspan publicly described the failure of long rates to follow as a “conundrum”; subsequent research attributed it to foreign central bank Treasury accumulation and a compressed term premium.

2008–2015 — Post-GFC floor and quantitative easing. DGS30 traded between 2.5% and 4.5% during the post-Lehman decade as the Federal Reserve balance sheet expanded through three rounds of QE. The 30-year yield repeatedly probed structural lows whenever growth or inflation expectations weakened.

2020 — COVID-driven trough. DGS30 reached an all-time low near 1.20% in March 2020 as the pandemic shock triggered an unprecedented flight to safety, complemented by emergency Federal Reserve purchases. This trough remains the floor of the DGS30 series.

2022–2024 — Inflation shock repricing. DGS30 climbed from below 2% in early 2022 to above 5% in October 2023, the highest level since 2007. The repricing reflected both a higher inflation premium and the unwind of the post-GFC term-premium compression as the Federal Reserve shifted from QE to QT.

2024–2026 — Stabilisation in the 4%–5% corridor. DGS30 has settled into a higher-yield equilibrium than the 2010s, with the long end pricing a sustained nominal growth + inflation environment incompatible with a near-zero policy rate return. The behaviour of the 10Y–2Y spread alongside DGS30 will determine whether this regime persists.

Related Macroeconomic Datasets

DGS30 is most informative when read alongside the rest of the US Treasury curve and the Federal Reserve’s policy stance — spreads between maturities, more than the absolute level, reveal regime changes.

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.

Explore the Eco3min Dataset Hub

Sources

• Board of Governors of the Federal Reserve System — H.15 Selected Interest Rates
• Federal Reserve Bank of St. Louis — FRED series DGS30
• US Department of the Treasury — Daily Treasury Yield Curve Rates

Dataset Reference

Eco3min Research. (2026). US 30-Year Treasury Constant Maturity Yield — DGS30 (1977–2026).<br> https://eco3min.fr/en/us-30-year-treasury-yield-dataset/