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Daily Treasury Long-Term Rates
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| Date |
LT Composite
(>10 yrs) |
Treasury
20-yr CMT |
Extrapolation
Factor |
. Beginning February 18, 2002, Treasury ceased publication
of the 30-year constant maturity series. Instead, from February 19, 2002
through May 28, 2004, Treasury published a Long-Term Average Rate, "LT>25,"
(not to be confused with the Long-Term Composite Rate, definitions
below). In addition, Treasury published daily linear extrapolation
factors that could be added to the Long-Term Average Rate to allow
interested parties to compute an estimated 30-year rate. On June
1, 2004, Treasury discontinued the "LT>25" average
due to a dearth of eligible bonds. In place of the "LT>25"
average, Treasury published the Treasury 20-year Constant
Maturity rate on this page along with an extrapolation factor that was
added to the 20-year Constant Maturity to obtain an estimate for a
theoretical 30-year rate. On February 9, 2006, Treasury reintroduced
the 30-year constant maturity and is no longer publishing the extrapolation
factor.
was the arithmetic average of the bid yields on all outstanding
fixed-coupon securities (i.e., excluding Inflation-Indexed securities)
with 25 years or more remaining to maturity. This series first appeared
on February 19, 2002, following discontinuation of the 30-year Treasury constant
maturity series. Subsequently, the "LT>25" average
was discontinued on June 1, 2004.
were
determined by considering the slope of the yield curve at it's long
end and extrapolating out to a theoretical 30-year point. To use
the Extrapolation Factor to determine a 30-year proxy rate,
add the factor to the 20-year Constant Maturity Rate. For example,
if on a particular day the 20-year Constant Maturity was 5.40% and
the Extrapolation Factor was 0.02%, then a 30-year theoretical rate
would have been 5.40% + 0.02% = 5.42%. Publishing of the Linear
Extrapolation Factors was discontinued on February 9, 2006 with the
reintroduction of the 30-year Constant Maturity Rate.
is the unweighted average of bid yields
on all outstanding fixed-coupon bonds neither due
nor callable in less than 10 years.
For more information regarding these statistics
contact the Office of Debt Management by email at debt.management@do.treas.gov.
For other Public Debt information contact (202) 504-3550.
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