Historical Year Data · 1996

10Y-3M Yield Spread in 1996

10Y-3M Yield Spread opened 1996 at 40 bps and closed at 122 bps, a +205.00% move for the year. The high of 177 bps was reached on June 12, and the low of 38 bps on January 3.

Open

40 bps

1996-01

122 bps

252 data points

High

177 bps

Jun 12

Low

38 bps

Jan 3

Full Year Change

+205.00%

1995 Change

-75.13%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	40 bps	55 bps	61 bps	38 bps	+37.50%
Feb	60 bps	111 bps	111 bps	60 bps	+85.00%
Mar	101 bps	121 bps	140 bps	90 bps	+19.80%
Apr	111 bps	152 bps	160 bps	109 bps	+36.94%
May	157 bps	167 bps	176 bps	145 bps	+6.37%
Jun	164 bps	155 bps	177 bps	155 bps	-5.49%
Jul	147 bps	148 bps	175 bps	147 bps	+0.68%
Aug	140 bps	167 bps	167 bps	130 bps	+19.29%
Sep	160 bps	158 bps	166 bps	150 bps	-1.25%
Oct	155 bps	120 bps	158 bps	120 bps	-22.58%
Nov	121 bps	93 bps	121 bps	93 bps	-23.14%
Dec	100 bps	122 bps	143 bps	100 bps	+22.00%

Events During 1996

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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