Federal Reserve Economic Data

10-Year Treasury Constant Maturity Minus Federal Funds Rate (T10YFFM)

Oct 2025: -0.02
Updated: Nov 3, 2025 4:03 PM CST
Oct 2025:  -0.02  
Sep 2025:  -0.11  
Aug 2025:  -0.07  
Jul 2025:  0.06  
Jun 2025:  0.05  
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Units:

Percent,
Not Seasonally Adjusted

Frequency:

Monthly

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Notes

Source: Federal Reserve Bank of St. Louis  

Release: Interest Rate Spreads

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

Series is calculated as the spread between 10-Year Treasury Constant Maturity (BC_10YEARM) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFRM).
Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department.

Suggested Citation:

Federal Reserve Bank of St. Louis, 10-Year Treasury Constant Maturity Minus Federal Funds Rate [T10YFFM], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/T10YFFM, .

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