10Y-2Y Yield Spread in 2001
10Y-2Y Yield Spread opened 2001 at 5 bps and closed at 200 bps, a +3900.00% move for the year. The high of 210 bps was reached on December 11, and the low of 5 bps on January 2.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 5 bps | 57 bps | 57 bps | 5 bps | +1040.00% |
| Feb | 55 bps | 51 bps | 59 bps | 29 bps | -7.27% |
| Mar | 46 bps | 75 bps | 75 bps | 46 bps | +63.04% |
| Apr | 76 bps | 105 bps | 108 bps | 76 bps | +38.16% |
| May | 107 bps | 121 bps | 123 bps | 100 bps | +13.08% |
| Jun | 117 bps | 117 bps | 129 bps | 113 bps | +0.00% |
| Jul | 116 bps | 128 bps | 128 bps | 113 bps | +10.34% |
| Aug | 128 bps | 121 bps | 131 bps | 111 bps | -5.47% |
| Sep | 116 bps | 174 bps | 188 bps | 116 bps | +50.00% |
| Oct | 173 bps | 186 bps | 196 bps | 173 bps | +7.51% |
| Nov | 175 bps | 194 bps | 194 bps | 175 bps | +10.86% |
| Dec | 193 bps | 200 bps | 210 bps | 185 bps | +3.63% |
Events During 2001
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.
Eleven European Union members locked exchange rates on January 1, 1999, creating the euro as a virtual currency. Physical notes and coins circulated from January 1, 2002. The euro became the largest monetary experiment since Bretton Woods.
The Nasdaq Composite peaked at 5,048 on March 10, 2000 and fell 78% over 31 months. Internet companies went bankrupt en masse. The crash reshaped venture capital, corporate governance, and accounting standards.
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