Historical Year Data · 2025

10Y-3M Yield Spread in 2025

10Y-3M Yield Spread opened 2025 at 21 bps and closed at 51 bps, a +142.86% move for the year. The high of 56 bps was reached on December 12, and the low of -27 bps on April 4.

Open

21 bps

2025-01

51 bps

249 data points

High

56 bps

Dec 12

Low

-27 bps

Apr 4

Full Year Change

+142.86%

2024 Change

+113.91%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	21 bps	27 bps	42 bps	21 bps	+28.57%
Feb	20 bps	-8 bps	27 bps	-8 bps	-140.00%
Mar	-19 bps	-9 bps	5 bps	-19 bps	+52.63%
Apr	-15 bps	-14 bps	14 bps	-27 bps	+6.67%
May	-6 bps	5 bps	22 bps	-8 bps	+183.33%
Jun	2 bps	-17 bps	8 bps	-17 bps	-950.00%
Jul	-14 bps	-4 bps	8 bps	-14 bps	+71.43%
Aug	-12 bps	0 bps	3 bps	-13 bps	+100.00%
Sep	8 bps	14 bps	18 bps	-7 bps	+75.00%
Oct	11 bps	22 bps	22 bps	-3 bps	+100.00%
Nov	15 bps	14 bps	21 bps	8 bps	-6.67%
Dec	28 bps	51 bps	56 bps	28 bps	+82.14%

Events During 2025

2025 US Tariff Shock

Stagflation

February – April 2025

The Trump administration imposed reciprocal tariffs averaging 25% on most trading partners in February-April 2025. Markets priced the most aggressive trade policy shift since 1930, with ripple effects across currencies, bond yields, and supply chains.

Previous Year

← 10Y-3M Yield Spread in 2024

Next Year

10Y-3M Yield Spread in 2026→