Safe Rate Treasury
An open view of the “risk free” rate of return
US Treasuries are the fundamental building block of modern finance, and Safe Rate is making them open and accessible to households and institutions alike. Get US Treasury open indices, security-level analytics, and robust curves, all derived from timely, public data. Every trading day since September 2, 2008, 18 years of history.
The curves, September 10, 2026
Last fitted trading day · 10 nominal tenors, 8 money market, 7 real
- 2 year
- 4.533%
- 2.157% real
- 5 year
- 4.706%
- 2.217% real
- 10 year
- 4.953%
- 2.587% real
- 20 year
- 5.484%
- 3.055% real
- 30 year
- 5.380%
- 3.122% real
| Maturity | Zero | Par | Forward | Money market | Real |
|---|---|---|---|---|---|
| 1 month | – | – | – | 3.790% | – |
| 3 month | – | – | – | 3.939% | – |
| 6 month | – | – | – | 4.084% | – |
| 1 year | 4.301% | 4.346% | 4.639% | 4.229% | – |
| 2 year | 4.533% | 4.578% | 4.832% | – | 2.157% |
| 3 year | 4.633% | 4.678% | 4.823% | – | 2.141% |
| 5 year | 4.706% | 4.750% | 4.843% | – | 2.217% |
| 7 year | 4.776% | 4.816% | 5.096% | – | 2.359% |
| 10 year | 4.953% | 4.970% | 5.637% | – | 2.587% |
| 20 year | 5.484% | 5.379% | 5.913% | – | 3.055% |
| 30 year | 5.380% | 5.368% | – | – | 3.122% |
Use the zero rate to discount a cashflow. The par yield is what makes this curve comparable with a published par curve, the forward is instantaneous rather than a period rate, the money market curve is fitted from bills alone below one year, and the real yield is a return above inflation rather than in cash terms.
What is here
Open Indices
Eleven US Treasury indices, monthly since 2008, free to benchmark against, and built from public data so a published level can be reproduced rather than taken on trust.
Savings bonds
What a Series I or Series EE bond is worth, and what you would actually receive for it, the twelve-month lock, the three-month interest penalty and the twenty-year doubling guarantee included.
Curves
Four families fitted every trading day since September 2, 2008: the par curve, the zero curve, a level-slope-curvature factor model, and a money market curve for the sub-one-year segment.
Securities
Any of the 2,771 marketable securities priced since 2008, by CUSIP: price history, auction results, and yield, duration, DV01 and key rate durations for nominal notes and bonds.
Rates
Key rates from one month to thirty years, zero-coupon, par and money market side by side, with the one-session change, plus the current Series I and EE savings bond rates.
On the Run / Off the Run
The current benchmark issue of every type and term, the securities a headline Treasury yield actually refers to, and the off-the-run issues behind each.
Visualization
Eighteen years of the curve as an animation, every month-end since 2008 drawn against the highest and lowest each maturity has reached. Nominal and real.
Market statistics
Measures of the market itself: how much Treasury debt is held as separate principal and interest, the float our indices deliberately do not deduct, published so the decision can be argued with.
On the run, and off it
Every queue →The on-the-run issue is the most recently auctioned security of its kind and term. It is the one dealers quote and the one a headline "10-year Treasury yield" almost always means. The issues behind it are off the run: nearly identical in coupon and maturity, slightly less liquid, and usually yielding a little more for it.
Notes
Floating rate notes
14 benchmarks across 5 instrument types. A reopening returns its CUSIP to the front of the queue, so a bond first sold years ago can be on the run today.