October 20, 2026 · last fitted close

2 year US Treasury rate

The zero-coupon rate at this maturity, fitted from the cashflow schedules of the securities outstanding on each day.

Rate
4.748%
+1.9 bp on the day

Where it sits in 18 years

4.748% today
0.103% low · Feb 5, 20215.172% high · Oct 18, 2023

Today’s rate is higher than 96.4% of the 4,536 trading days fitted since September 2, 2008. That is a count of days, not a position on the scale above: a rate can sit near the top of its range while only a few days ever reached it.

The real 2 year yield on the same day is 2.320%, so the market is pricing roughly 2.429% of inflation compensation at this maturity. That is a price, not a forecast.

Every month since September 2, 2008

0%1%2%3%4%5%6%Sep 30, 2008Oct 20, 2026Sep 30, 20082 year rate2.003%Oct 31, 20082 year rate1.475%Nov 28, 20082 year rate0.808%Dec 31, 20082 year rate0.593%Jan 30, 20092 year rate0.825%Feb 27, 20092 year rate0.971%Mar 31, 20092 year rate0.779%Apr 30, 20092 year rate0.914%May 29, 20092 year rate0.914%Jun 30, 20092 year rate1.081%Jul 31, 20092 year rate1.098%Aug 31, 20092 year rate0.962%Sep 30, 20092 year rate0.923%Oct 30, 20092 year rate0.893%Nov 30, 20092 year rate0.648%Dec 31, 20092 year rate1.142%Jan 29, 20102 year rate0.817%Feb 26, 20102 year rate0.800%Mar 31, 20102 year rate1.003%Apr 30, 20102 year rate0.955%May 31, 20102 year rate0.799%Jun 30, 20102 year rate0.621%Jul 30, 20102 year rate0.511%Aug 31, 20102 year rate0.455%Sep 30, 20102 year rate0.400%Oct 29, 20102 year rate0.306%Nov 30, 20102 year rate0.459%Dec 31, 20102 year rate0.615%Jan 31, 20112 year rate0.567%Feb 28, 20112 year rate0.668%Mar 31, 20112 year rate0.790%Apr 29, 20112 year rate0.591%May 31, 20112 year rate0.447%Jun 30, 20112 year rate0.484%Jul 29, 20112 year rate0.343%Aug 31, 20112 year rate0.192%Sep 30, 20112 year rate0.285%Oct 31, 20112 year rate0.247%Nov 30, 20112 year rate0.248%Dec 30, 20112 year rate0.241%Jan 31, 20122 year rate0.187%Feb 29, 20122 year rate0.293%Mar 30, 20122 year rate0.352%Apr 30, 20122 year rate0.263%May 31, 20122 year rate0.276%Jun 29, 20122 year rate0.336%Jul 31, 20122 year rate0.208%Aug 31, 20122 year rate0.207%Sep 28, 20122 year rate0.215%Oct 31, 20122 year rate0.277%Nov 30, 20122 year rate0.256%Dec 31, 20122 year rate0.243%Jan 31, 20132 year rate0.260%Feb 28, 20132 year rate0.230%Mar 28, 20132 year rate0.244%Apr 30, 20132 year rate0.196%May 31, 20132 year rate0.316%Jun 28, 20132 year rate0.397%Jul 31, 20132 year rate0.335%Aug 30, 20132 year rate0.432%Sep 30, 20132 year rate0.340%Oct 31, 20132 year rate0.317%Nov 29, 20132 year rate0.295%Dec 31, 20132 year rate0.406%Jan 31, 20142 year rate0.348%Feb 28, 20142 year rate0.342%Mar 31, 20142 year rate0.456%Apr 30, 20142 year rate0.437%May 30, 20142 year rate0.401%Jun 30, 20142 year rate0.464%Jul 31, 20142 year rate0.557%Aug 29, 20142 year rate0.546%Sep 30, 20142 year rate0.632%Oct 31, 20142 year rate0.552%Nov 28, 20142 year rate0.518%Dec 31, 20142 year rate0.717%Jan 30, 20152 year rate0.492%Feb 27, 20152 year rate0.670%Mar 31, 20152 year rate0.592%Apr 30, 20152 year rate0.610%May 29, 20152 year rate0.639%Jun 30, 20152 year rate0.674%Jul 31, 20152 year rate0.689%Aug 31, 20152 year rate0.780%Sep 30, 20152 year rate0.667%Oct 30, 20152 year rate0.779%Nov 30, 20152 year rate0.988%Dec 31, 20152 year rate1.102%Jan 29, 20162 year rate0.818%Feb 29, 20162 year rate0.804%Mar 31, 20162 year rate0.747%Apr 29, 20162 year rate0.773%May 31, 20162 year rate0.888%Jun 30, 20162 year rate0.601%Jul 29, 20162 year rate0.669%Aug 31, 20162 year rate0.821%Sep 30, 20162 year rate0.789%Oct 31, 20162 year rate0.883%Nov 30, 20162 year rate1.153%Dec 30, 20162 year rate1.212%Jan 31, 20172 year rate1.204%Feb 28, 20172 year rate1.242%Mar 31, 20172 year rate1.292%Apr 28, 20172 year rate1.289%May 31, 20172 year rate1.296%Jun 30, 20172 year rate1.404%Jul 31, 20172 year rate1.366%Aug 31, 20172 year rate1.331%Sep 29, 20172 year rate1.489%Oct 31, 20172 year rate1.609%Nov 30, 20172 year rate1.805%Dec 29, 20172 year rate1.903%Jan 31, 20182 year rate2.159%Feb 28, 20182 year rate2.268%Mar 29, 20182 year rate2.288%Apr 30, 20182 year rate2.498%May 31, 20182 year rate2.428%Jun 29, 20182 year rate2.528%Jul 31, 20182 year rate2.664%Aug 31, 20182 year rate2.623%Sep 28, 20182 year rate2.794%Oct 31, 20182 year rate2.866%Nov 30, 20182 year rate2.803%Dec 31, 20182 year rate2.504%Jan 31, 20192 year rate2.461%Feb 28, 20192 year rate2.522%Mar 29, 20192 year rate2.273%Apr 30, 20192 year rate2.264%May 31, 20192 year rate1.972%Jun 28, 20192 year rate1.773%Jul 31, 20192 year rate1.905%Aug 30, 20192 year rate1.538%Sep 30, 20192 year rate1.664%Oct 31, 20192 year rate1.547%Nov 29, 20192 year rate1.649%Dec 31, 20192 year rate1.602%Jan 31, 20202 year rate1.349%Feb 28, 20202 year rate0.892%Mar 31, 20202 year rate0.274%Apr 30, 20202 year rate0.227%May 29, 20202 year rate0.182%Jun 30, 20202 year rate0.165%Jul 31, 20202 year rate0.119%Aug 31, 20202 year rate0.136%Sep 30, 20202 year rate0.130%Oct 30, 20202 year rate0.153%Nov 30, 20202 year rate0.142%Dec 31, 20202 year rate0.123%Jan 29, 20212 year rate0.114%Feb 26, 20212 year rate0.172%Mar 31, 20212 year rate0.169%Apr 30, 20212 year rate0.168%May 28, 20212 year rate0.144%Jun 30, 20212 year rate0.258%Jul 30, 20212 year rate0.195%Aug 31, 20212 year rate0.225%Sep 30, 20212 year rate0.296%Oct 29, 20212 year rate0.491%Nov 30, 20212 year rate0.553%Dec 31, 20212 year rate0.758%Jan 31, 20222 year rate1.178%Feb 28, 20222 year rate1.452%Mar 31, 20222 year rate2.305%Apr 29, 20222 year rate2.711%May 31, 20222 year rate2.524%Jun 30, 20222 year rate2.977%Jul 29, 20222 year rate2.918%Aug 31, 20222 year rate3.477%Sep 30, 20222 year rate4.295%Oct 31, 20222 year rate4.544%Nov 30, 20222 year rate4.391%Dec 30, 20222 year rate4.461%Jan 31, 20232 year rate4.229%Feb 28, 20232 year rate4.788%Mar 31, 20232 year rate4.099%Apr 28, 20232 year rate4.097%May 31, 20232 year rate4.422%Jun 30, 20232 year rate4.888%Jul 31, 20232 year rate4.873%Aug 31, 20232 year rate4.844%Sep 29, 20232 year rate5.041%Oct 31, 20232 year rate5.041%Nov 30, 20232 year rate4.699%Dec 29, 20232 year rate4.224%Jan 31, 20242 year rate4.222%Feb 29, 20242 year rate4.610%Mar 29, 20242 year rate4.611%Apr 30, 20242 year rate4.995%May 31, 20242 year rate4.837%Jun 28, 20242 year rate4.692%Jul 31, 20242 year rate4.264%Aug 30, 20242 year rate3.900%Sep 30, 20242 year rate3.628%Oct 31, 20242 year rate4.123%Nov 29, 20242 year rate4.162%Dec 31, 20242 year rate4.215%Jan 31, 20252 year rate4.198%Feb 28, 20252 year rate3.969%Mar 31, 20252 year rate3.876%Apr 30, 20252 year rate3.593%May 30, 20252 year rate3.908%Jun 30, 20252 year rate3.714%Jul 31, 20252 year rate3.927%Aug 29, 20252 year rate3.610%Sep 30, 20252 year rate3.591%Oct 31, 20252 year rate3.584%Nov 28, 20252 year rate3.497%Dec 31, 20252 year rate3.485%Jan 30, 20262 year rate3.510%Feb 27, 20262 year rate3.377%Mar 31, 20262 year rate3.776%Apr 30, 20262 year rate3.838%May 29, 20262 year rate3.981%Jun 30, 20262 year rate4.119%Jul 31, 20262 year rate4.262%Aug 31, 20262 year rate4.320%Sep 30, 20262 year rate4.842%Oct 20, 20262 year rate4.748%

218 month ends. The high, low, mean and percentile above are computed over all 4,536 fitted days, not over these 218 points. Mean across the whole history is 1.696%.

The last 30 trading days

The 2 year US Treasury rate on each of the last 30 fitted trading days.
DateRate
Oct 20, 20264.748%
Oct 19, 20264.729%
Oct 16, 20264.694%
Oct 15, 20264.728%
Oct 14, 20264.780%
Oct 13, 20264.762%
Oct 9, 20264.764%
Oct 8, 20264.725%
Oct 7, 20264.737%
Oct 6, 20264.757%
Oct 5, 20264.796%
Oct 2, 20264.798%
Oct 1, 20264.748%
Sep 30, 20264.842%
Sep 29, 20264.851%
Sep 28, 20264.883%
Sep 25, 20264.808%
Sep 24, 20264.859%
Sep 23, 20264.842%
Sep 22, 20264.712%
Sep 21, 20264.716%
Sep 18, 20264.722%
Sep 17, 20264.644%
Sep 16, 20264.699%
Sep 15, 20264.637%
Sep 14, 20264.610%
Sep 11, 20264.597%
Sep 10, 20264.533%
Sep 9, 20264.396%
Sep 8, 20264.366%

Each date links to every family fitted on that day.

The other key rates

1 month3 month6 month1 year3 year5 year7 year10 year20 year30 year

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.