The 30 Yr - 2 Yr spread (2s30s) is +117 basis points as of April 17, 2026, up 2 bps on the day. The 52-week range is 91 to 140 bps. The 2s30s captures the full term structure slope from the rate-sensitive 2-year to the long bond.
| ΔD(bps) | ΔW(bps) | ΔM(bps) | ΔQ(bps) | ΔY(bps) |
|---|---|---|---|---|
| +2 | +7 | +13 | -7 | +22 |
Current spread is at the 65th percentile of its 52-week range.
The 30 Yr - 2 Yr Treasury spread is the difference between the 30 Yr and 2 Yr par yields. When positive, the curve is "normal" — longer maturities yield more than shorter ones, compensating investors for duration risk. When negative (inverted), the curve signals that the market expects lower future rates, often associated with recession risk or aggressive monetary tightening. The current level of 117 bps sits at the 65th percentile of its 52-week range (91 to 140 bps). Spread changes are driven by shifts in rate expectations, term premium, and supply-demand dynamics. Fixed income traders use these spreads to construct curve trades — steepeners profit when the spread widens, flatteners when it narrows.