Explore U.S. Treasury yields, real yields, breakeven inflation, and auction demand in one place, with current data and historical charts
U.S. Treasury Data & Indicators
U.S. Treasury data can help explain what is happening beyond daily moves in gold and silver prices. Nominal yields show borrowing rates across maturities, real yields show inflation-adjusted returns, breakeven inflation tracks the difference between the two, and auction results offer a view of demand for new Treasury debt.
Start with U.S. Treasury Yields to compare nominal yields across five maturities and explore historical charts. Then use U.S. Real Yields to follow Treasury’s real yield curve based on TIPS market data.
The U.S. Breakeven Inflation tracker calculates the difference between nominal and real yields for matching dates and maturities. It provides a measure of inflation compensation in the bond market, though it is not the current inflation rate or a precise inflation forecast.
For a view of demand at individual debt sales, Treasury Auction Data shows results for 10-, 20- and 30-year auctions, including bid-to-cover ratios and auction yields.
Why Track U.S. Treasury Data?
Treasury yields help set the backdrop for gold and silver. When nominal or real yields change, investors may reassess the appeal of assets that do not pay interest. Breakeven inflation adds context by showing how the gap between those two yields is changing.
Auction results answer a different question: how strongly did investors bid for newly issued Treasury debt? No single reading explains a move in precious metals on its own. Viewed together, these four tools provide a broader picture of interest rates, inflation compensation and demand for U.S. government debt.
Frequently Asked Questions
What is the difference between nominal and real Treasury yields?
A nominal yield is the stated yield on a conventional Treasury security. A real yield is adjusted for inflation and provides a different way to assess the return investors may receive in purchasing-power terms.
Why do Treasury yields matter for gold and silver?
Changes in yields can affect the relative appeal of assets that do not pay interest. Their effect on gold and silver also depends on inflation expectations, the U.S. dollar and other market conditions.
What does the bid-to-cover ratio show?
It compares the total value of bids submitted at a Treasury auction with the amount of securities offered. It is one measure of auction demand, but it is most useful when compared with results for similar securities and auctions.
Are Treasury auction results the same as daily Treasury yields?
No. Auction results describe a specific sale of new securities. Daily Treasury yields track rates across maturities on each available trading day.