Historical Year Data · 1991

10Y-3M Yield Spread in 1991

10Y-3M Yield Spread opened 1991 at 131 bps and closed at 275 bps, a +109.92% move for the year. The high of 313 bps was reached on December 20, and the low of 129 bps on January 3.

Open

131 bps

1991-01

275 bps

250 data points

High

313 bps

Dec 20

Low

129 bps

Jan 3

Full Year Change

+109.92%

1990 Change

+1218.18%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	131 bps	166 bps	202 bps	129 bps	+26.72%
Feb	174 bps	180 bps	180 bps	167 bps	+3.45%
Mar	185 bps	213 bps	217 bps	180 bps	+15.14%
Apr	213 bps	234 bps	235 bps	208 bps	+9.86%
May	230 bps	235 bps	255 bps	230 bps	+2.17%
Jun	235 bps	253 bps	263 bps	235 bps	+7.66%
Jul	250 bps	250 bps	260 bps	244 bps	+0.00%
Aug	248 bps	233 bps	256 bps	231 bps	-6.05%
Sep	230 bps	221 bps	235 bps	218 bps	-3.91%
Oct	220 bps	251 bps	257 bps	220 bps	+14.09%
Nov	259 bps	291 bps	291 bps	259 bps	+12.36%
Dec	281 bps	275 bps	313 bps	274 bps	-2.14%

Events During 1991

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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