# Slopes

Source: https://www.yieldcurve.pro/slopes

This app allows users to chart the difference in rates between two distinct tenors
as a function of time. The 10Y minus 2Y difference is the widely tracked
[2s10s spread](https://www.yieldcurve.pro/learn/2s10s-spread).



## Instructions

* choose the desired **Start** and **End** dates using the two date selectors — the chart updates automatically
* choose the desired **Long Tenor** and **Short Tenor** from the dropdown menus
* click the **sparkle** button to open **ChatYCP** and ask questions about the data (login required)

## Notes

* **Start** and **End** are pre-populated with the earliest and latest dates
available, respectively
* **Long Tenor** and **Short Tenor** are pre-populated with system defaults
(10 Yr and 3 Mo, respectively). Logged-in users can change these via
[Account Defaults](https://www.yieldcurve.pro/about#header_defaults)
* try asking ChatYCP: *"Is the 10Y-2Y spread currently positive or negative?"* or *"When was the 10Y-2Y spread most inverted, and what was the value?"*

Use Cases

* identify periods of upward or downward sloping yields between two tenors
* estimate the likelihood of economic recession

Further Reading

* <a href="https://en.wikipedia.org/wiki/Yield_curve#Significance_of_slope_and_shape" target="_blank">Yield Curve Slope</a>
* <a href="https://www.chicagofed.org/publications/chicago-fed-letter/2018/404" target="_blank">Why Does the Yield-Curve Slope Predict Recessions?</a>
* <a href="/blog/why-the-yield-curve-matters">The Importance of the US Treasury Yield Curve</a>
* <a href="/blog/yield-curve-recession-false-positive">The Yield Curve Predicted a Recession That Never Came</a>
* <a href="/blog/is-the-yield-curve-cyclical">Does The Yield Curve Follow a Cycle?</a>