The trend since 2019.
The latest available read: 10Y-3M Yield Curve is at 0.89% as of September 2026. Source: FRED · T10Y3M.
Why it matters.
A healthier curve like this suggests the bond market expects steady economic conditions ahead, which typically supports job growth and keeps mortgage rates reasonable. When this spread narrows sharply or inverts, it's often a warning sign that lenders are worried about the future.
Where it fits.
10Y-3M Yield Curve feeds the Inflation & the Fed view — one of the six areas behind the site's Macro IQ score.