Historical Year Data · 1994
10Y-2Y Yield Spread in 1994
10Y-2Y Yield Spread opened 1994 at 162 bps and closed at 15 bps, a -90.74% move for the year. The high of 167 bps was reached on January 25, and the low of 9 bps on December 27.
Open
162 bps
1994-01
Close
15 bps
249 data points
High
167 bps
Jan 25
Low
9 bps
Dec 27
Full Year Change
-90.74%
1993 Change
-25.47%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 162 bps | 158 bps | 167 bps | 155 bps | -2.47% |
| Feb | 157 bps | 148 bps | 157 bps | 144 bps | -5.73% |
| Mar | 147 bps | 156 bps | 159 bps | 141 bps | +6.12% |
| Apr | 159 bps | 133 bps | 159 bps | 125 bps | -16.35% |
| May | 128 bps | 116 bps | 128 bps | 115 bps | -9.38% |
| Jun | 114 bps | 115 bps | 126 bps | 112 bps | +0.88% |
| Jul | 115 bps | 113 bps | 121 bps | 108 bps | -1.74% |
| Aug | 110 bps | 102 bps | 114 bps | 98 bps | -7.27% |
| Sep | 104 bps | 100 bps | 110 bps | 100 bps | -3.85% |
| Oct | 97 bps | 97 bps | 107 bps | 97 bps | +0.00% |
| Nov | 98 bps | 51 bps | 100 bps | 51 bps | -47.96% |
| Dec | 50 bps | 15 bps | 50 bps | 9 bps | -70.00% |
Events During 1994
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.
1994 Bond Market Massacre
Reflation
February – November 1994
The Fed's surprise 25bp hike on February 4, 1994 triggered one of the worst bond market selloffs in history. 10Y yields rose 240bps in nine months. Orange County, Mexico, and Kidder Peabody were casualties.
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