US Treasury Yield Spread Widens to 0.40 Percentage Points
The 10-year minus 2-year Treasury yield spread rose on July 14 as Treasury rates shifted.
**Coverage:** Fresh at 2026-07-14: 10-Year Treasury Minus 2-Year Treasury Yield Spread. Latest available but older: Personal Consumption Expenditures Price Index, Real GDP, % Change from Preceding Period, Average Hourly Earnings, Total Private (SA), CPI-U, All Items (NSA), CPI-U, All Items (SA), CPI-U, All Items Less Food & Energy — Core CPI (SA), JOLTS Job Openings, Total Nonfarm (SA), PPI Final Demand (SA), Total Nonfarm Payroll Employment (SA), Unemployment Rate (SA), Advance Monthly Retail Sales, Total (ex. auto/gas categories vary), New Residential Construction, Housing Starts (Total), 10-Year Treasury Constant Maturity Rate, 2-Year Treasury Constant Maturity Rate, Effective Federal Funds Rate, ICE BofA US High Yield Index Option-Adjusted Spread.
The 10-Year Treasury Minus 2-Year Treasury Yield Spread rose to 0.40 percentage points on July 14. This represents a 0.04 percentage point increase from the previous day.
Treasury rates moved higher on July 13, with the 10-Year Treasury Constant Maturity Rate reaching 4.62% and the 2-Year Treasury Constant Maturity Rate hitting 4.26% [13, 15]. The Effective Federal Funds Rate remained steady at 3.62%, while the ICE BofA US High Yield Index Option-Adjusted Spread held at 2.69 percentage points.
The unemployment rate fell to 4.20% in June. Total nonfarm payroll employment grew by 57,000 persons in the same month, and average hourly earnings rose 0.3% to 37.64 dollars per hour. Job openings for total nonfarm sectors reached 7.594 million in May.
Inflation indicators showed mixed movement. The seasonally adjusted CPI-U for all items fell 0.4% in June, while the Core CPI remained flat. The PPI for final demand dropped 1.4% in June, though the Personal Consumption Expenditures Price Index rose 0.4% in May.
Other activity metrics include a 0.9% increase in total advance monthly retail sales to 763.7 billion dollars in May. Housing starts fell 15.4% to 1.177 million units in the same period. Real GDP grew 2.10% in the first quarter of 2026.