Yield Curve - Stonks

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2Y —

10Y —

30Y —

10Y − 2Y spread —

Live classifier

How to read this curve

Market signal, not a forecast

Current shape —

Waiting for a curve

The shape classifier will update with the animation.

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Move from start —

Starting point

Press Play to classify how short and long yields move.

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Global read-through —

No move yet

The global interpretation will build from the change in U.S. rates.

Most direct for global financing conditions; less direct for global growth.

Classifier guide

Bull steepener

Short yields fall faster than long yields—often easing expectations, disinflation, or growth concern.

Bear steepener

Long yields rise faster—often stronger nominal growth, inflation risk, or a higher term premium.

Bull flattener

Long yields fall faster—often softer long-run expectations or demand for safe duration.

Bear flattener

Short yields rise faster—often a more restrictive near-term central-bank path.

“Bull” means yields fell and “bear” means yields rose; it is bond-market language, not a judgment that the economic news is good or bad. Classifier thresholds are descriptive and are not a calibrated forecasting model.

Source: U.S. Treasury daily par yield curve rates. Interpretation references: New York Fed 10Y–3M model, Federal Reserve research on term spreads, and BIS research on global yield spillovers. The faint lines mark the selected range’s first and last published curves.