At 5.15% on Oct. 19, the U.S. Department of the Treasury’s 10-year par yield remained 110 basis points above its March level, despite the month’s retreat.
The Treasury’s daily series recorded 4.05% on March 2. The 110-basis-point difference equals 1.10 percentage points; one basis point is one-hundredth of a percentage point.
The rate stood at 5.31% on Oct. 5 and 5.09% on Oct. 16 before climbing six basis points on Oct. 19. EconoTimes previously covered the six-basis-point rise on Oct. 19.
The Treasury bases its daily par curve on indicative bids collected around 3:30 p.m. ET. The 10-year figure represents a standardized maturity on the curve, rather than the trading yield of one particular Treasury note.
