5-year Treasury yield, 1962 to 2026
5-year Treasury yield stood at 4.37% in 2026, up 3bp on the previous period.
The 5-year Treasury yield is the interest rate on US government debt at a five year horizon, the middle of the yield curve. The Federal Reserve Board publishes it in the H.15 release as a constant maturity yield, interpolated from the prices of actively traded securities, and FRED carries it as series DGS5, in percent, not seasonally adjusted. This chart shows monthly averages of the daily readings.
The 5-year sits between the policy-driven short end and the expectation-driven long end, so it moves with both. It averaged 4.37 percent in August 2026. The record in this data is 15.93 percent in September 1981, at the peak of the Volcker tightening, and the floor is 0.27 percent in August 2020, when the pandemic pushed the whole curve toward zero.
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