The 10-year real yield, built from the nominal yield and the breakeven

Run it yourself

This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.

SELECT
    toString(toStartOfQuarter(t.date))                                      AS quarter,
    concat('Q', toString(toQuarter(t.date)), ' ', toString(toYear(t.date))) AS quarter_label,
    round(avg(toFloat64(t.yield_10_year)), 2)                               AS nominal_10y_pct,
    round(avg(toFloat64(e.market_10_year)), 2)                              AS breakeven_10y_pct,
    round(avg(toFloat64(t.yield_10_year) - toFloat64(e.market_10_year)), 2) AS real_10y_pct
FROM global_markets.treasury_yields AS t
INNER JOIN global_markets.inflation_expectations AS e ON e.date = t.date
WHERE t.date >= '2005-01-01'
  AND t.yield_10_year > 0
  AND e.market_10_year > 0
GROUP BY quarter, quarter_label
ORDER BY quarter