Historical Year Data · 2003

Aaa-10Y Treasury Spread in 2003

Aaa-10Y Treasury Spread opened 2003 at 2.16% and closed at 1.36%, a -37.04% move for the year. The high of 2.22% was reached on March 10, and the low of 1.28% on December 1.

Open

2.16%

2003-01

1.36%

250 data points

High

2.22%

Mar 10

Low

1.28%

Dec 1

Full Year Change

-37.04%

2002 Change

+50.67%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	2.16%	2.04%	2.18%	2.03%	-5.56%
Feb	2.02%	2.12%	2.12%	1.98%	+4.95%
Mar	2.15%	1.94%	2.22%	1.94%	-9.77%
Apr	1.93%	1.64%	1.93%	1.64%	-15.03%
May	1.66%	1.67%	1.69%	1.59%	+0.60%
Jun	1.65%	1.62%	1.67%	1.52%	-1.82%
Jul	1.63%	1.46%	1.63%	1.42%	-10.43%
Aug	1.43%	1.38%	1.53%	1.37%	-3.50%
Sep	1.32%	1.47%	1.51%	1.32%	+11.36%
Oct	1.47%	1.36%	1.47%	1.36%	-7.48%
Nov	1.32%	1.30%	1.39%	1.30%	-1.52%
Dec	1.28%	1.36%	1.39%	1.28%	+6.25%

Events During 2003

1990 Japanese Bubble Collapse

Deflation

January 1990 – 2003

The Nikkei 225 peaked at 38,957 on December 29, 1989, then fell 82% over 13 years. Japan entered its "lost decades" of deflation, zero rates, and structural stagnation that still shapes global markets today.

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