The 10 Yr - 7 Yr spread (7s10s) is +16 basis points as of July 31, 2026, unchanged on the day. The 52-week range is 12 to 31 bps.
| ΔD(bps) | ΔW(bps) | ΔM(bps) | ΔQ(bps) | ΔY(bps) |
|---|---|---|---|---|
| 0 | +2 | +3 | -4 | -7 |
Current spread is at the 18th percentile of its 52-week range.
The 10 Yr - 7 Yr Treasury spread is the difference between the 10 Yr and 7 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 16 bps sits at the 18th percentile of its 52-week range (12 to 31 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.