Treasury Rate - 10 Year
Returns the 10-year constant maturity Treasury rate from FRED. This is the most widely watched interest rate benchmark.
Data Source
Data is sourced from the Federal Reserve H.15 release via FRED, updated daily.
Notes
- Key benchmark for mortgage rates
- Used for DCF discount rates
- Indicator of inflation expectations
Syntax
=TreasuryRate10y()Returns
number
10-year Treasury rate as percentage
Examples
10-year Treasury rate
Yield curve slope (10y-3m)
Yield curve slope (10y-1y)
When to Use
- Long-term discount rate
- Mortgage rate analysis
- Yield curve analysis
- Inflation expectations proxy
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Short-term rate | TreasuryRate3m() or TreasuryRate1y() |
| Medium-term | TreasuryRate5y() |
| Corporate bonds | Credit spread functions |
Common Issues & FAQ
Why is 10-year so important?
It's the benchmark for mortgages, corporate bonds, and equity valuation.
What drives the 10-year rate?
Inflation expectations, Fed policy, economic growth, and global demand.
Related Formulas
More MarketXLS Economic Data formulas you can use in the same worksheet:
- U.S - Euro Foreign Exchange Rate
- U.S - UK Foreign Exchange Rate
- U.S Dollar Index
- Unemployment Rate
- Vehicle Sales - Light Weight
- Wilshire 5000 Total Market Index
- Average Hourly Earnings - Private
- Average Weekly Hours of Production
See TreasuryRate10y used in a complete workbook: Yield Curve Dashboard Excel: June 2026 Recession Indicator and Treasury Spread Tracker
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