Treasury Rate - 3 Months

Returns the 3-month constant maturity Treasury rate from FRED. This is the most liquid short-term rate.

Data Source

Data is sourced from the Federal Reserve H.15 release via FRED, updated daily.

Notes

  • Closest to Fed Funds rate
  • Money market benchmark
  • Used for short-term cash investments

Examples

=TreasuryRate3m()
3-month T-bill rate
=TreasuryRate10y()-TreasuryRate3m()
Yield curve slope (most common)

When to Use

  • Short-term risk-free rate
  • Money market analysis
  • Yield curve calculations
  • Cash equivalent returns

When NOT to Use

Scenario Use Instead
Long-term rate TreasuryRate10y()
1-year rate TreasuryRate1y()
Medium-term TreasuryRate5y()

Common Issues & FAQ

Q: How does this relate to Fed Funds? A: 3-month T-bill closely tracks the Fed Funds rate but may differ slightly.

Q: Is this for T-bills or notes? A: It's the constant maturity rate, interpolated from the Treasury yield curve.

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