Historical Year Data · 1997
10Y-3M Yield Spread in 1997
10Y-3M Yield Spread opened 1997 at 135 bps and closed at 39 bps, a -71.11% move for the year. The high of 172 bps was reached on May 29, and the low of 26 bps on December 22.
Open
135 bps
1997-01
Close
39 bps
250 data points
High
172 bps
May 29
Low
26 bps
Dec 22
Full Year Change
-71.11%
1996 Change
+205.00%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 135 bps | 138 bps | 155 bps | 134 bps | +2.22% |
| Feb | 135 bps | 134 bps | 136 bps | 116 bps | -0.74% |
| Mar | 134 bps | 157 bps | 157 bps | 131 bps | +17.16% |
| Apr | 158 bps | 144 bps | 168 bps | 143 bps | -8.86% |
| May | 145 bps | 171 bps | 172 bps | 131 bps | +17.93% |
| Jun | 159 bps | 126 bps | 159 bps | 126 bps | -20.75% |
| Jul | 127 bps | 77 bps | 127 bps | 77 bps | -39.37% |
| Aug | 92 bps | 110 bps | 113 bps | 92 bps | +19.57% |
| Sep | 110 bps | 106 bps | 126 bps | 100 bps | -3.64% |
| Oct | 94 bps | 63 bps | 111 bps | 63 bps | -32.98% |
| Nov | 65 bps | 64 bps | 70 bps | 54 bps | -1.54% |
| Dec | 59 bps | 39 bps | 69 bps | 26 bps | -33.90% |
Events During 1997
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.
1997 Asian Financial Crisis
Deflation
July 1997 – 1998
Thailand's forced devaluation of the baht on July 2, 1997 triggered contagion across Southeast Asia. Indonesia, Korea, and Malaysia saw currency collapses, sovereign debt crises, and economic contractions of 10-15%.
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