Table Data - 10-Year Treasury Constant Maturity Minus Federal Funds Rate

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 2024-10-01
Last Updated	2024-11-01 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.

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
2024-05-01	-0.85
2024-06-01	-1.02
2024-07-01	-1.08
2024-08-01	-1.46
2024-09-01	-1.41
2024-10-01	-0.73

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