2-Year Treasury Yield
US 2-year Treasury constant maturity yield (%, daily)
| Property | Value |
|---|---|
| Category | macro |
| Unit | % |
| Resolution | 1d |
| Assets | MACRO |
| Tier | Basic |
| API Endpoint | GET /v1/macro/rates |
| Field | ust_2y |
Overview
Yield on 2-year US Treasury notes at constant maturity (FRED series DGS2). The 2Y is the most rate-sensitive part of the Treasury curve and is widely viewed as the bond market's forecast of where the Fed funds rate will average over the next two years.
Interpretation
- Rising 2Y yields signal markets are pricing more Fed hikes or fewer cuts — typically a headwind for risk assets.
- Falling 2Y yields indicate markets are pricing rate cuts — often a tailwind for Bitcoin and other long-duration risk assets.
- Sharp 2Y rallies (yields falling) often precede major risk-on regimes once the Fed pivots.
Use Cases
- Use as a real-time market estimate of the Fed's policy path for BTC macro overlays.
- Combine with
macro_ust_10yto compute the curve slope (macro_spread_10y_2y). - Track 2Y/10Y dynamics to identify bull-steepening regimes that historically favor BTC accumulation.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/macro/rates?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- Fed Funds Target Rate — US federal funds upper-bound target rate (%, daily)
- 10-Year Treasury Yield — US 10-year Treasury constant maturity yield (%, daily)
- 10Y-2Y Yield Spread — 10-year minus 2-year Treasury yield spread (%, recession indicator)
- 13-Week T-Bill Yield (CBOE) — CBOE 13-Week Treasury Bill Yield ^IRX (%, daily)