NOTE: THIS DATA FILE WILL CHANGE! To improve accessibility of data for all users, we will convert this file from a text format to an html table by the end of June 2024. Title: 10-Year Treasury Constant Maturity Minus Federal Funds Rate Series ID: T10YFFM Source: Federal Reserve Bank of St. Louis Release: Interest Rate Spreads (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Monthly Units: Percent Date Range: 1954-07-01 to 2024-04-01 Last Updated: 2024-05-01 4:01 PM CDT Notes: Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEARM) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFRM). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield). DATE VALUE 1954-07-01 1.50 1954-08-01 1.14 1954-09-01 1.32 1954-10-01 1.58 1954-11-01 1.65 1954-12-01 1.23 1955-01-01 1.22 1955-02-01 1.36 1955-03-01 1.33 1955-04-01 1.32 1955-05-01 1.33 1955-06-01 1.14 1955-07-01 1.22 1955-08-01 1.01 1955-09-01 0.79 1955-10-01 0.64 1955-11-01 0.54 1955-12-01 0.48 1956-01-01 0.45 1956-02-01 0.34 1956-03-01 0.46 1956-04-01 0.56 1956-05-01 0.32 1956-06-01 0.29 1956-07-01 0.36 1956-08-01 0.60 1956-09-01 0.43 1956-10-01 0.38 1956-11-01 0.61 1956-12-01 0.65 1957-01-01 0.62 1957-02-01 0.34 1957-03-01 0.45 1957-04-01 0.48 1957-05-01 0.60 1957-06-01 0.80 1957-07-01 0.94 1957-08-01 0.69 1957-09-01 0.45 1957-10-01 0.47 1957-11-01 0.44 1957-12-01 0.23 1958-01-01 0.37 1958-02-01 1.38 1958-03-01 1.78 1958-04-01 1.62 1958-05-01 2.29 1958-06-01 2.04 1958-07-01 2.52 1958-08-01 2.01 1958-09-01 2.00 1958-10-01 2.00 1958-11-01 1.47 1958-12-01 1.44 1959-01-01 1.54 1959-02-01 1.53 1959-03-01 1.19 1959-04-01 1.16 1959-05-01 1.41 1959-06-01 0.95 1959-07-01 0.93 1959-08-01 0.93 1959-09-01 0.92 1959-10-01 0.55 1959-11-01 0.53 1959-12-01 0.70 1960-01-01 0.73 1960-02-01 0.52 1960-03-01 0.41 1960-04-01 0.36 1960-05-01 0.50 1960-06-01 0.83 1960-07-01 0.67 1960-08-01 0.82 1960-09-01 1.20 1960-10-01 1.42 1960-11-01 1.49 1960-12-01 1.86 1961-01-01 2.39 1961-02-01 1.24 1961-03-01 1.72 1961-04-01 2.29 1961-05-01 1.73 1961-06-01 2.15 1961-07-01 2.75 1961-08-01 2.04 1961-09-01 2.10 1961-10-01 1.66 1961-11-01 1.33 1961-12-01 1.73 1962-01-01 1.93 1962-02-01 1.67 1962-03-01 1.08 1962-04-01 1.06 1962-05-01 1.51 1962-06-01 1.23 1962-07-01 1.30 1962-08-01 1.05 1962-09-01 1.08 1962-10-01 1.03 1962-11-01 0.98 1962-12-01 0.93 1963-01-01 0.91 1963-02-01 0.92 1963-03-01 0.95 1963-04-01 1.07 1963-05-01 0.93 1963-06-01 1.00 1963-07-01 1.00 1963-08-01 0.51 1963-09-01 0.60 1963-10-01 0.61 1963-11-01 0.64 1963-12-01 0.75 1964-01-01 0.69 1964-02-01 0.67 1964-03-01 0.79 1964-04-01 0.76 1964-05-01 0.70 1964-06-01 0.67 1964-07-01 0.77 1964-08-01 0.69 1964-09-01 0.75 1964-10-01 0.83 1964-11-01 0.63 1964-12-01 0.33 1965-01-01 0.29 1965-02-01 0.23 1965-03-01 0.17 1965-04-01 0.11 1965-05-01 0.11 1965-06-01 0.17 1965-07-01 0.11 1965-08-01 0.13 1965-09-01 0.28 1965-10-01 0.27 1965-11-01 0.35 1965-12-01 0.30 1966-01-01 0.19 1966-02-01 0.23 1966-03-01 0.22 1966-04-01 0.08 1966-05-01 -0.12 1966-06-01 -0.36 1966-07-01 -0.28 1966-08-01 -0.31 1966-09-01 -0.22 1966-10-01 -0.52 1966-11-01 -0.60 1966-12-01 -0.56 1967-01-01 -0.36 1967-02-01 -0.37 1967-03-01 0.01 1967-04-01 0.54 1967-05-01 0.91 1967-06-01 1.04 1967-07-01 1.37 1967-08-01 1.38 1967-09-01 1.31 1967-10-01 1.60 1967-11-01 1.62 1967-12-01 1.19 1968-01-01 0.93 1968-02-01 0.85 1968-03-01 0.69 1968-04-01 -0.12 1968-05-01 -0.24 1968-06-01 -0.35 1968-07-01 -0.52 1968-08-01 -0.61 1968-09-01 -0.32 1968-10-01 -0.33 1968-11-01 -0.12 1968-12-01 0.01 1969-01-01 -0.26 1969-02-01 -0.42 1969-03-01 -0.49 1969-04-01 -1.24 1969-05-01 -2.35 1969-06-01 -2.33 1969-07-01 -1.89 1969-08-01 -2.50 1969-09-01 -1.99 1969-10-01 -1.90 1969-11-01 -1.71 1969-12-01 -1.32 1970-01-01 -1.19 1970-02-01 -1.74 1970-03-01 -0.69 1970-04-01 -0.71 1970-05-01 -0.03 1970-06-01 0.24 1970-07-01 0.25 1970-08-01 0.92 1970-09-01 1.10 1970-10-01 1.13 1970-11-01 1.24 1970-12-01 1.49 1971-01-01 2.10 1971-02-01 2.39 1971-03-01 1.99 1971-04-01 1.68 1971-05-01 1.76 1971-06-01 1.61 1971-07-01 1.42 1971-08-01 1.02 1971-09-01 0.59 1971-10-01 0.73 1971-11-01 0.90 1971-12-01 1.79 1972-01-01 2.45 1972-02-01 2.79 1972-03-01 2.24 1972-04-01 2.02 1972-05-01 1.86 1972-06-01 1.65 1972-07-01 1.56 1972-08-01 1.41 1972-09-01 1.68 1972-10-01 1.44 1972-11-01 1.22 1972-12-01 1.03 1973-01-01 0.52 1973-02-01 0.06 1973-03-01 -0.38 1973-04-01 -0.45 1973-05-01 -0.99 1973-06-01 -1.59 1973-07-01 -3.27 1973-08-01 -3.10 1973-09-01 -3.69 1973-10-01 -3.22 1973-11-01 -3.30 1973-12-01 -3.21 1974-01-01 -2.66 1974-02-01 -2.01 1974-03-01 -2.14 1974-04-01 -3.00 1974-05-01 -3.73 1974-06-01 -4.39 1974-07-01 -5.11 1974-08-01 -3.97 1974-09-01 -3.30 1974-10-01 -2.16 1974-11-01 -1.77 1974-12-01 -1.10 1975-01-01 0.37 1975-02-01 1.15 1975-03-01 2.19 1975-04-01 2.74 1975-05-01 2.84 1975-06-01 2.31 1975-07-01 1.96 1975-08-01 2.26 1975-09-01 2.19 1975-10-01 2.32 1975-11-01 2.83 1975-12-01 2.80 1976-01-01 2.87 1976-02-01 3.02 1976-03-01 2.89 1976-04-01 2.74 1976-05-01 2.61 1976-06-01 2.38 1976-07-01 2.52 1976-08-01 2.48 1976-09-01 2.34 1976-10-01 2.39 1976-11-01 2.34 1976-12-01 2.22 1977-01-01 2.60 1977-02-01 2.71 1977-03-01 2.77 1977-04-01 2.64 1977-05-01 2.11 1977-06-01 1.89 1977-07-01 1.91 1977-08-01 1.50 1977-09-01 1.20 1977-10-01 1.05 1977-11-01 1.07 1977-12-01 1.13 1978-01-01 1.26 1978-02-01 1.25 1978-03-01 1.25 1978-04-01 1.26 1978-05-01 0.99 1978-06-01 0.86 1978-07-01 0.83 1978-08-01 0.37 1978-09-01 -0.03 1978-10-01 -0.32 1978-11-01 -0.95 1978-12-01 -1.02 1979-01-01 -0.97 1979-02-01 -0.96 1979-03-01 -0.97 1979-04-01 -0.83 1979-05-01 -0.99 1979-06-01 -1.38 1979-07-01 -1.52 1979-08-01 -1.91 1979-09-01 -2.10 1979-10-01 -3.47 1979-11-01 -2.53 1979-12-01 -3.39 1980-01-01 -3.02 1980-02-01 -1.72 1980-03-01 -4.44 1980-04-01 -6.14 1980-05-01 -0.80 1980-06-01 0.31 1980-07-01 1.22 1980-08-01 1.49 1980-09-01 0.64 1980-10-01 -1.06 1980-11-01 -3.17 1980-12-01 -6.06 1981-01-01 -6.51 1981-02-01 -2.74 1981-03-01 -1.58 1981-04-01 -2.04 1981-05-01 -4.42 1981-06-01 -5.63 1981-07-01 -4.76 1981-08-01 -2.88 1981-09-01 -0.55 1981-10-01 0.07 1981-11-01 0.08 1981-12-01 1.35 1982-01-01 1.37 1982-02-01 -0.35 1982-03-01 -0.82 1982-04-01 -1.07 1982-05-01 -0.83 1982-06-01 0.15 1982-07-01 1.36 1982-08-01 2.94 1982-09-01 2.03 1982-10-01 1.20 1982-11-01 1.35 1982-12-01 1.59 1983-01-01 1.78 1983-02-01 2.21 1983-03-01 1.74 1983-04-01 1.60 1983-05-01 1.75 1983-06-01 1.87 1983-07-01 2.01 1983-08-01 2.29 1983-09-01 2.20 1983-10-01 2.06 1983-11-01 2.35 1983-12-01 2.36 1984-01-01 2.11 1984-02-01 2.25 1984-03-01 2.41 1984-04-01 2.34 1984-05-01 3.09 1984-06-01 2.50 1984-07-01 2.13 1984-08-01 1.08 1984-09-01 1.22 1984-10-01 2.17 1984-11-01 2.14 1984-12-01 3.12 1985-01-01 3.03 1985-02-01 3.01 1985-03-01 3.28 1985-04-01 3.16 1985-05-01 2.88 1985-06-01 2.63 1985-07-01 2.43 1985-08-01 2.43 1985-09-01 2.45 1985-10-01 2.25 1985-11-01 1.73 1985-12-01 0.99 1986-01-01 1.05 1986-02-01 0.84 1986-03-01 0.30 1986-04-01 0.31 1986-05-01 0.86 1986-06-01 0.88 1986-07-01 0.74 1986-08-01 1.00 1986-09-01 1.56 1986-10-01 1.58 1986-11-01 1.21 1986-12-01 0.20 1987-01-01 0.65 1987-02-01 1.15 1987-03-01 1.12 1987-04-01 1.65 1987-05-01 1.76 1987-06-01 1.67 1987-07-01 1.87 1987-08-01 2.03 1987-09-01 2.20 1987-10-01 2.23 1987-11-01 2.17 1987-12-01 2.22 1988-01-01 1.84 1988-02-01 1.63 1988-03-01 1.79 1988-04-01 1.85 1988-05-01 2.00 1988-06-01 1.41 1988-07-01 1.31 1988-08-01 1.25 1988-09-01 0.79 1988-10-01 0.50 1988-11-01 0.61 1988-12-01 0.35 1989-01-01 -0.03 1989-02-01 -0.19 1989-03-01 -0.49 1989-04-01 -0.66 1989-05-01 -0.95 1989-06-01 -1.25 1989-07-01 -1.22 1989-08-01 -0.88 1989-09-01 -0.83 1989-10-01 -0.83 1989-11-01 -0.68 1989-12-01 -0.61 1990-01-01 -0.02 1990-02-01 0.23 1990-03-01 0.31 1990-04-01 0.53 1990-05-01 0.58 1990-06-01 0.19 1990-07-01 0.32 1990-08-01 0.62 1990-09-01 0.69 1990-10-01 0.61 1990-11-01 0.58 1990-12-01 0.77 1991-01-01 1.18 1991-02-01 1.60 1991-03-01 1.99 1991-04-01 2.13 1991-05-01 2.29 1991-06-01 2.38 1991-07-01 2.45 1991-08-01 2.24 1991-09-01 2.20 1991-10-01 2.32 1991-11-01 2.61 1991-12-01 2.66 1992-01-01 3.00 1992-02-01 3.28 1992-03-01 3.56 1992-04-01 3.75 1992-05-01 3.57 1992-06-01 3.50 1992-07-01 3.59 1992-08-01 3.29 1992-09-01 3.20 1992-10-01 3.49 1992-11-01 3.78 1992-12-01 3.85 1993-01-01 3.58 1993-02-01 3.23 1993-03-01 2.91 1993-04-01 3.01 1993-05-01 3.04 1993-06-01 2.92 1993-07-01 2.75 1993-08-01 2.65 1993-09-01 2.27 1993-10-01 2.34 1993-11-01 2.70 1993-12-01 2.81 1994-01-01 2.70 1994-02-01 2.72 1994-03-01 3.14 1994-04-01 3.41 1994-05-01 3.17 1994-06-01 2.85 1994-07-01 3.04 1994-08-01 2.77 1994-09-01 2.73 1994-10-01 2.98 1994-11-01 2.67 1994-12-01 2.36 1995-01-01 2.25 1995-02-01 1.55 1995-03-01 1.22 1995-04-01 1.01 1995-05-01 0.62 1995-06-01 0.17 1995-07-01 0.43 1995-08-01 0.75 1995-09-01 0.40 1995-10-01 0.28 1995-11-01 0.13 1995-12-01 0.11 1996-01-01 0.09 1996-02-01 0.59 1996-03-01 0.96 1996-04-01 1.29 1996-05-01 1.50 1996-06-01 1.64 1996-07-01 1.47 1996-08-01 1.42 1996-09-01 1.53 1996-10-01 1.29 1996-11-01 0.89 1996-12-01 1.01 1997-01-01 1.33 1997-02-01 1.23 1997-03-01 1.30 1997-04-01 1.38 1997-05-01 1.21 1997-06-01 0.93 1997-07-01 0.70 1997-08-01 0.76 1997-09-01 0.67 1997-10-01 0.53 1997-11-01 0.36 1997-12-01 0.31 1998-01-01 -0.02 1998-02-01 0.06 1998-03-01 0.16 1998-04-01 0.19 1998-05-01 0.16 1998-06-01 -0.06 1998-07-01 -0.08 1998-08-01 -0.21 1998-09-01 -0.70 1998-10-01 -0.54 1998-11-01 0.00 1998-12-01 -0.03 1999-01-01 0.09 1999-02-01 0.24 1999-03-01 0.42 1999-04-01 0.44 1999-05-01 0.80 1999-06-01 1.14 1999-07-01 0.80 1999-08-01 0.87 1999-09-01 0.70 1999-10-01 0.91 1999-11-01 0.61 1999-12-01 0.98 2000-01-01 1.21 2000-02-01 0.79 2000-03-01 0.41 2000-04-01 -0.03 2000-05-01 0.17 2000-06-01 -0.43 2000-07-01 -0.49 2000-08-01 -0.67 2000-09-01 -0.72 2000-10-01 -0.77 2000-11-01 -0.79 2000-12-01 -1.16 2001-01-01 -0.82 2001-02-01 -0.39 2001-03-01 -0.42 2001-04-01 0.34 2001-05-01 1.18 2001-06-01 1.31 2001-07-01 1.47 2001-08-01 1.32 2001-09-01 1.66 2001-10-01 2.08 2001-11-01 2.56 2001-12-01 3.27 2002-01-01 3.31 2002-02-01 3.17 2002-03-01 3.55 2002-04-01 3.46 2002-05-01 3.41 2002-06-01 3.18 2002-07-01 2.92 2002-08-01 2.52 2002-09-01 2.12 2002-10-01 2.19 2002-11-01 2.71 2002-12-01 2.79 2003-01-01 2.81 2003-02-01 2.64 2003-03-01 2.56 2003-04-01 2.70 2003-05-01 2.31 2003-06-01 2.11 2003-07-01 2.97 2003-08-01 3.42 2003-09-01 3.26 2003-10-01 3.28 2003-11-01 3.30 2003-12-01 3.29 2004-01-01 3.15 2004-02-01 3.07 2004-03-01 2.83 2004-04-01 3.35 2004-05-01 3.72 2004-06-01 3.70 2004-07-01 3.24 2004-08-01 2.85 2004-09-01 2.52 2004-10-01 2.34 2004-11-01 2.26 2004-12-01 2.07 2005-01-01 1.94 2005-02-01 1.67 2005-03-01 1.87 2005-04-01 1.55 2005-05-01 1.14 2005-06-01 0.96 2005-07-01 0.92 2005-08-01 0.76 2005-09-01 0.58 2005-10-01 0.68 2005-11-01 0.54 2005-12-01 0.31 2006-01-01 0.13 2006-02-01 0.08 2006-03-01 0.13 2006-04-01 0.20 2006-05-01 0.17 2006-06-01 0.12 2006-07-01 -0.15 2006-08-01 -0.37 2006-09-01 -0.53 2006-10-01 -0.52 2006-11-01 -0.65 2006-12-01 -0.68 2007-01-01 -0.49 2007-02-01 -0.54 2007-03-01 -0.70 2007-04-01 -0.56 2007-05-01 -0.50 2007-06-01 -0.15 2007-07-01 -0.26 2007-08-01 -0.35 2007-09-01 -0.42 2007-10-01 -0.23 2007-11-01 -0.34 2007-12-01 -0.14 2008-01-01 -0.20 2008-02-01 0.76 2008-03-01 0.90 2008-04-01 1.40 2008-05-01 1.90 2008-06-01 2.10 2008-07-01 2.00 2008-08-01 1.89 2008-09-01 1.88 2008-10-01 2.84 2008-11-01 3.14 2008-12-01 2.26 2009-01-01 2.37 2009-02-01 2.65 2009-03-01 2.64 2009-04-01 2.78 2009-05-01 3.11 2009-06-01 3.51 2009-07-01 3.40 2009-08-01 3.43 2009-09-01 3.25 2009-10-01 3.27 2009-11-01 3.28 2009-12-01 3.47 2010-01-01 3.62 2010-02-01 3.56 2010-03-01 3.57 2010-04-01 3.65 2010-05-01 3.22 2010-06-01 3.02 2010-07-01 2.83 2010-08-01 2.51 2010-09-01 2.46 2010-10-01 2.35 2010-11-01 2.57 2010-12-01 3.11 2011-01-01 3.22 2011-02-01 3.42 2011-03-01 3.27 2011-04-01 3.36 2011-05-01 3.08 2011-06-01 2.91 2011-07-01 2.93 2011-08-01 2.20 2011-09-01 1.90 2011-10-01 2.08 2011-11-01 1.93 2011-12-01 1.91 2012-01-01 1.89 2012-02-01 1.87 2012-03-01 2.04 2012-04-01 1.91 2012-05-01 1.64 2012-06-01 1.46 2012-07-01 1.37 2012-08-01 1.55 2012-09-01 1.58 2012-10-01 1.59 2012-11-01 1.49 2012-12-01 1.56 2013-01-01 1.77 2013-02-01 1.83 2013-03-01 1.82 2013-04-01 1.61 2013-05-01 1.82 2013-06-01 2.21 2013-07-01 2.49 2013-08-01 2.66 2013-09-01 2.73 2013-10-01 2.53 2013-11-01 2.64 2013-12-01 2.81 2014-01-01 2.79 2014-02-01 2.64 2014-03-01 2.64 2014-04-01 2.62 2014-05-01 2.47 2014-06-01 2.50 2014-07-01 2.45 2014-08-01 2.33 2014-09-01 2.44 2014-10-01 2.21 2014-11-01 2.24 2014-12-01 2.09 2015-01-01 1.77 2015-02-01 1.87 2015-03-01 1.93 2015-04-01 1.82 2015-05-01 2.08 2015-06-01 2.23 2015-07-01 2.19 2015-08-01 2.03 2015-09-01 2.03 2015-10-01 1.95 2015-11-01 2.14 2015-12-01 2.00 2016-01-01 1.75 2016-02-01 1.40 2016-03-01 1.53 2016-04-01 1.44 2016-05-01 1.44 2016-06-01 1.26 2016-07-01 1.11 2016-08-01 1.16 2016-09-01 1.23 2016-10-01 1.36 2016-11-01 1.73 2016-12-01 1.95 2017-01-01 1.78 2017-02-01 1.76 2017-03-01 1.69 2017-04-01 1.40 2017-05-01 1.39 2017-06-01 1.15 2017-07-01 1.17 2017-08-01 1.05 2017-09-01 1.05 2017-10-01 1.21 2017-11-01 1.19 2017-12-01 1.10 2018-01-01 1.17 2018-02-01 1.44 2018-03-01 1.33 2018-04-01 1.18 2018-05-01 1.28 2018-06-01 1.09 2018-07-01 0.98 2018-08-01 0.98 2018-09-01 1.05 2018-10-01 0.96 2018-11-01 0.92 2018-12-01 0.56 2019-01-01 0.31 2019-02-01 0.28 2019-03-01 0.17 2019-04-01 0.11 2019-05-01 0.01 2019-06-01 -0.31 2019-07-01 -0.34 2019-08-01 -0.49 2019-09-01 -0.35 2019-10-01 -0.12 2019-11-01 0.26 2019-12-01 0.31 2020-01-01 0.21 2020-02-01 -0.08 2020-03-01 0.24 2020-04-01 0.61 2020-05-01 0.62 2020-06-01 0.65 2020-07-01 0.53 2020-08-01 0.56 2020-09-01 0.59 2020-10-01 0.70 2020-11-01 0.78 2020-12-01 0.84 2021-01-01 0.99 2021-02-01 1.18 2021-03-01 1.54 2021-04-01 1.56 2021-05-01 1.56 2021-06-01 1.44 2021-07-01 1.22 2021-08-01 1.19 2021-09-01 1.29 2021-10-01 1.50 2021-11-01 1.48 2021-12-01 1.38 2022-01-01 1.68 2022-02-01 1.85 2022-03-01 1.93 2022-04-01 2.42 2022-05-01 2.14 2022-06-01 1.95 2022-07-01 1.25 2022-08-01 0.57 2022-09-01 0.94 2022-10-01 0.90 2022-11-01 0.14 2022-12-01 -0.47 2023-01-01 -0.80 2023-02-01 -0.82 2023-03-01 -0.99 2023-04-01 -1.37 2023-05-01 -1.48 2023-06-01 -1.33 2023-07-01 -1.22 2023-08-01 -1.16 2023-09-01 -0.95 2023-10-01 -0.53 2023-11-01 -0.83 2023-12-01 -1.31 2024-01-01 -1.27 2024-02-01 -1.12 2024-03-01 -1.12 2024-04-01 -0.79