2Y Yield reads 4.56% as of 2026-09-10. Change from prior reading: +0.13. Current value sits at the 80th percentile of the trailing 5 years. Sourced from fred, refreshed every 6 hours, and free to access via the JSON API.
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Integrated Brief
DGS2 — the 2-Year Treasury Constant Maturity Rate, published daily by the Treasury (business days only; no print on weekends or holidays), interpolated from the Treasury's daily par yield curve. It is the market's most direct read on the expected average federal funds rate over the next two years, so it moves faster and further than the 10-year on shifts in rate-cut or rate-hike expectations. The published value is not the quoted yield of one specific outstanding note — it is a curve-interpolated constant-maturity figure.
Core Print
Current Interpretation
2Y Yield is currently 4.56 (daily change +0.13). Based on its standardized historical distribution (z-score), current positioning reflects a "neutral range". Check related plumbing indicators to evaluate broader systemic conditions.
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Read our complete guide on 2Y Yield, including historical examples, interpretation methods, and common pitfalls.