{"slug":"covered-call-closed-end-funds","qid":"short_rate_path","label":"Short-term Treasury yields by month, the reference for fund borrowing costs","post_title":"Covered Call Closed-End Funds vs ETFs","post_url":"/blog/covered-call-closed-end-funds#q-short_rate_path","columns":["month","avg_1_month_yield_pct","avg_3_month_yield_pct"],"rows":[{"month":"2023-08","avg_1_month_yield_pct":5.54,"avg_3_month_yield_pct":5.56},{"month":"2023-09","avg_1_month_yield_pct":5.53,"avg_3_month_yield_pct":5.56},{"month":"2023-10","avg_1_month_yield_pct":5.57,"avg_3_month_yield_pct":5.6},{"month":"2023-11","avg_1_month_yield_pct":5.53,"avg_3_month_yield_pct":5.52},{"month":"2023-12","avg_1_month_yield_pct":5.54,"avg_3_month_yield_pct":5.44},{"month":"2024-01","avg_1_month_yield_pct":5.54,"avg_3_month_yield_pct":5.45},{"month":"2024-02","avg_1_month_yield_pct":5.49,"avg_3_month_yield_pct":5.44},{"month":"2024-03","avg_1_month_yield_pct":5.51,"avg_3_month_yield_pct":5.47},{"month":"2024-04","avg_1_month_yield_pct":5.48,"avg_3_month_yield_pct":5.44},{"month":"2024-05","avg_1_month_yield_pct":5.5,"avg_3_month_yield_pct":5.45},{"month":"2024-06","avg_1_month_yield_pct":5.46,"avg_3_month_yield_pct":5.51},{"month":"2024-07","avg_1_month_yield_pct":5.48,"avg_3_month_yield_pct":5.43},{"month":"2024-08","avg_1_month_yield_pct":5.5,"avg_3_month_yield_pct":5.3},{"month":"2024-09","avg_1_month_yield_pct":5.06,"avg_3_month_yield_pct":4.92},{"month":"2024-10","avg_1_month_yield_pct":4.92,"avg_3_month_yield_pct":4.72},{"month":"2024-11","avg_1_month_yield_pct":4.71,"avg_3_month_yield_pct":4.62},{"month":"2024-12","avg_1_month_yield_pct":4.5,"avg_3_month_yield_pct":4.39},{"month":"2025-01","avg_1_month_yield_pct":4.42,"avg_3_month_yield_pct":4.34},{"month":"2025-02","avg_1_month_yield_pct":4.37,"avg_3_month_yield_pct":4.33},{"month":"2025-03","avg_1_month_yield_pct":4.37,"avg_3_month_yield_pct":4.34},{"month":"2025-04","avg_1_month_yield_pct":4.35,"avg_3_month_yield_pct":4.32},{"month":"2025-05","avg_1_month_yield_pct":4.37,"avg_3_month_yield_pct":4.36},{"month":"2025-06","avg_1_month_yield_pct":4.24,"avg_3_month_yield_pct":4.42},{"month":"2025-07","avg_1_month_yield_pct":4.37,"avg_3_month_yield_pct":4.41},{"month":"2025-08","avg_1_month_yield_pct":4.46,"avg_3_month_yield_pct":4.3},{"month":"2025-09","avg_1_month_yield_pct":4.24,"avg_3_month_yield_pct":4.07},{"month":"2025-10","avg_1_month_yield_pct":4.15,"avg_3_month_yield_pct":3.98},{"month":"2025-11","avg_1_month_yield_pct":4.03,"avg_3_month_yield_pct":3.94},{"month":"2025-12","avg_1_month_yield_pct":3.77,"avg_3_month_yield_pct":3.68},{"month":"2026-01","avg_1_month_yield_pct":3.73,"avg_3_month_yield_pct":3.67},{"month":"2026-02","avg_1_month_yield_pct":3.72,"avg_3_month_yield_pct":3.69},{"month":"2026-03","avg_1_month_yield_pct":3.74,"avg_3_month_yield_pct":3.72},{"month":"2026-04","avg_1_month_yield_pct":3.69,"avg_3_month_yield_pct":3.7},{"month":"2026-05","avg_1_month_yield_pct":3.71,"avg_3_month_yield_pct":3.69},{"month":"2026-06","avg_1_month_yield_pct":3.69,"avg_3_month_yield_pct":3.81},{"month":"2026-07","avg_1_month_yield_pct":3.74,"avg_3_month_yield_pct":3.87}],"shape":"series","sql":"SELECT\n    formatDateTime(toStartOfMonth(date), '%Y-%m') AS month,\n    round(avg(yield_1_month), 2)                  AS avg_1_month_yield_pct,\n    round(avg(yield_3_month), 2)                  AS avg_3_month_yield_pct\nFROM global_markets.treasury_yields\nWHERE date >= toStartOfMonth(today() - 1090)\n  AND date <  toStartOfMonth(today())\n  AND yield_1_month > 0\n  AND yield_3_month > 0\nGROUP BY month\nORDER BY month","computed_at":"2026-08-22T04:04:15.851886+00:00","elapsed":0.027025801}