FRED 2y-10y · XLF — The Yield Curve Spread (2s10s) and Bank Sector Transmission
10y−2y Treasury spread: +0.4% as of 2026-09-25.
Financials & Yield Curve Sensitivity — Relative performance of financials against the S&P 500 mapped against Treasury yield curve slope and Net Interest Margins (NIM).
The plate
Comparing the 10Y–2Y Treasury yield spread since 1976 against trailing 12-month bank returns. Because commercial banks earn net interest margins on maturity transformation, yield curve shifts typically lead sector performance by 3 to 9 months.
What this page answers
This static page is built to answer searches for FRED 2y-10y · XLF. It summarizes the live dataset behind the The Yield Curve Spread (2s10s) and Bank Sector Transmission panel and links to the full interactive chart.
Comparing the 10Y–2Y Treasury yield spread since 1976 against trailing 12-month bank returns. Because commercial banks earn net interest margins on maturity transformation, yield curve shifts typically lead sector performance by 3 to 9 months. The data is refreshed by the History of Market pipeline and published as a stable JSON endpoint for research, citation, and AI-agent use.
Data & Source
GET /api/fin/rates.json — Canonical dataset endpoint.
Exchange closing prices · Company filings · Robert Shiller · FRED · NBER.
FAQ
Where does this data come from?
History of Market combines public market and macro datasets — exchange closing prices, company filings, Robert Shiller, FRED, NBER, and the UBS Global Investment Returns Yearbook (Dimson–Marsh–Staunton). The exact endpoint for this panel is linked below.
How often is it updated?
Daily-tier datasets refresh after the U.S. market close, with a broader weekly refresh on Sunday. The timestamp shown on this page comes from the JSON payload.
Can I use the data?
Yes, for research and education with attribution to History of Market. Upstream data sources retain their own terms.