CONVEX
Historical Year Data · 2026

5Y Treasury minus Fed Funds in 2026

5Y Treasury minus Fed Funds opened 2026 at 10 bps and closed at 38 bps, a +280.00% move for the year. The high of 44 bps was reached on March 26, and the low of -13 bps on February 27.

Open
10 bps
2026-01
Close
38 bps
83 data points
High
44 bps
Mar 26
Low
-13 bps
Feb 27
Full Year Change
+280.00%
2025 Change
+80.00%

Monthly Breakdown

MonthOpenCloseHighLowChange
Jan10 bps15 bps22 bps6 bps+50.00%
Feb19 bps-13 bps19 bps-13 bps-168.42%
Mar-2 bps28 bps44 bps-2 bps+1500.00%
Apr33 bps38 bps41 bps20 bps+15.15%

Related Metrics

Get historical context as markets unfold, regime classification, scenario triggers, and analysis in your inbox.