10Y-2Y Treasury Spread
+0.45 pp
· Jul 2026
econ
scout
1980 Recession · Jan 1980 – Jul 1980
1981-82 Recession · Jul 1981 – Nov 1982
1990-91 Recession · Jul 1990 – Mar 1991
2001 Recession · Mar 2001 – Nov 2001
Global Financial Crisis · Dec 2007 – Jun 2009
COVID-19 Recession · Feb 2020 – Apr 2020
-2.0
-1.0
0.0
1.0
2.0
1980
1990
2000
2010
2020
+0.45 pp
10Y-2Y Treasury Spread — one value per year; US recessions are shaded on the chart.
Year
10Y-2Y Treasury Spread
1976
+1.47 pp
1977
+0.56 pp
1978
-0.83 pp
1979
-0.90 pp
1980
-0.63 pp
1981
+0.35 pp
1982
+0.88 pp
1983
+0.97 pp
1984
+1.53 pp
1985
+1.02 pp
1986
+0.88 pp
1987
+1.06 pp
1988
+0.00 pp
1989
+0.06 pp
1990
+0.93 pp
1991
+1.94 pp
1992
+2.14 pp
1993
+1.58 pp
1994
+0.15 pp
1995
+0.40 pp
1996
+0.55 pp
1997
+0.09 pp
1998
+0.11 pp
1999
+0.21 pp
2000
+0.01 pp
2001
+2.00 pp
2002
+2.22 pp
2003
+2.43 pp
2004
+1.16 pp
2005
-0.02 pp
2006
-0.11 pp
2007
+0.99 pp
2008
+1.49 pp
2009
+2.71 pp
2010
+2.69 pp
2011
+1.64 pp
2012
+1.53 pp
2013
+2.66 pp
2014
+1.50 pp
2015
+1.21 pp
2016
+1.25 pp
2017
+0.51 pp
2018
+0.21 pp
2019
+0.34 pp
2020
+0.80 pp
2021
+0.79 pp
2022
-0.53 pp
2023
-0.35 pp
2024
+0.33 pp
2025
+0.71 pp
2026
+0.45 pp
Source: FRED · T10Y2Y · econscout.com