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Historical Year Data · 2003

5Y Treasury minus Fed Funds in 2003

5Y Treasury minus Fed Funds opened 2003 at 175 bps and closed at 231 bps, a +32.00% move for the year. The high of 265 bps was reached on September 3, and the low of 81 bps on June 16.

Open
175 bps
2003-01
Close
231 bps
250 data points
High
265 bps
Sep 3
Low
81 bps
Jun 16
Full Year Change
+32.00%
2002 Change
-37.69%

Monthly Breakdown

MonthOpenCloseHighLowChange
Jan175 bps169 bps195 bps167 bps-3.43%
Feb175 bps136 bps186 bps136 bps-22.29%
Mar133 bps140 bps192 bps128 bps+5.26%
Apr149 bps154 bps178 bps149 bps+3.36%
May152 bps102 bps166 bps98 bps-32.89%
Jun110 bps101 bps144 bps81 bps-8.18%
Jul137 bps234 bps234 bps137 bps+70.80%
Aug237 bps245 bps257 bps203 bps+3.38%
Sep257 bps168 bps265 bps168 bps-34.63%
Oct173 bps224 bps236 bps173 bps+29.48%
Nov232 bps237 bps250 bps210 bps+2.16%
Dec243 bps231 bps248 bps216 bps-4.94%

Events During 2003

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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Related Metrics

3-Month Treasury Yield
2003
1Y Treasury Yield
2003
2Y Treasury Yield
2003
5Y Treasury Yield
2003
10Y Treasury Yield
2003
30Y Treasury Yield
2003

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