{"slug":"sec-30-day-yield-vs-distribution-yield","qid":"rate_backdrop","label":"The market rate backdrop: 3-month and 10-year Treasury yields","post_title":"SEC 30-Day Yield vs Distribution Yield","post_url":"/blog/sec-30-day-yield-vs-distribution-yield#q-rate_backdrop","columns":["month","month_label","treasury_3m_pct","treasury_10y_pct"],"rows":[{"month":"2022-04","month_label":"Apr 2022","treasury_3m_pct":0.78,"treasury_10y_pct":2.79},{"month":"2022-05","month_label":"May 2022","treasury_3m_pct":0.99,"treasury_10y_pct":2.9},{"month":"2022-06","month_label":"Jun 2022","treasury_3m_pct":1.54,"treasury_10y_pct":3.14},{"month":"2022-07","month_label":"Jul 2022","treasury_3m_pct":2.3,"treasury_10y_pct":2.9},{"month":"2022-08","month_label":"Aug 2022","treasury_3m_pct":2.72,"treasury_10y_pct":2.9},{"month":"2022-09","month_label":"Sep 2022","treasury_3m_pct":3.22,"treasury_10y_pct":3.52},{"month":"2022-10","month_label":"Oct 2022","treasury_3m_pct":3.87,"treasury_10y_pct":3.98},{"month":"2022-11","month_label":"Nov 2022","treasury_3m_pct":4.32,"treasury_10y_pct":3.89},{"month":"2022-12","month_label":"Dec 2022","treasury_3m_pct":4.36,"treasury_10y_pct":3.62},{"month":"2023-01","month_label":"Jan 2023","treasury_3m_pct":4.69,"treasury_10y_pct":3.53},{"month":"2023-02","month_label":"Feb 2023","treasury_3m_pct":4.79,"treasury_10y_pct":3.75},{"month":"2023-03","month_label":"Mar 2023","treasury_3m_pct":4.86,"treasury_10y_pct":3.66},{"month":"2023-04","month_label":"Apr 2023","treasury_3m_pct":5.07,"treasury_10y_pct":3.46},{"month":"2023-05","month_label":"May 2023","treasury_3m_pct":5.31,"treasury_10y_pct":3.57},{"month":"2023-06","month_label":"Jun 2023","treasury_3m_pct":5.42,"treasury_10y_pct":3.75},{"month":"2023-07","month_label":"Jul 2023","treasury_3m_pct":5.49,"treasury_10y_pct":3.9},{"month":"2023-08","month_label":"Aug 2023","treasury_3m_pct":5.56,"treasury_10y_pct":4.17},{"month":"2023-09","month_label":"Sep 2023","treasury_3m_pct":5.56,"treasury_10y_pct":4.38},{"month":"2023-10","month_label":"Oct 2023","treasury_3m_pct":5.6,"treasury_10y_pct":4.8},{"month":"2023-11","month_label":"Nov 2023","treasury_3m_pct":5.52,"treasury_10y_pct":4.5},{"month":"2023-12","month_label":"Dec 2023","treasury_3m_pct":5.44,"treasury_10y_pct":4.02},{"month":"2024-01","month_label":"Jan 2024","treasury_3m_pct":5.45,"treasury_10y_pct":4.06},{"month":"2024-02","month_label":"Feb 2024","treasury_3m_pct":5.44,"treasury_10y_pct":4.21},{"month":"2024-03","month_label":"Mar 2024","treasury_3m_pct":5.47,"treasury_10y_pct":4.21},{"month":"2024-04","month_label":"Apr 2024","treasury_3m_pct":5.44,"treasury_10y_pct":4.54},{"month":"2024-05","month_label":"May 2024","treasury_3m_pct":5.45,"treasury_10y_pct":4.48},{"month":"2024-06","month_label":"Jun 2024","treasury_3m_pct":5.51,"treasury_10y_pct":4.31},{"month":"2024-07","month_label":"Jul 2024","treasury_3m_pct":5.43,"treasury_10y_pct":4.25},{"month":"2024-08","month_label":"Aug 2024","treasury_3m_pct":5.3,"treasury_10y_pct":3.87},{"month":"2024-09","month_label":"Sep 2024","treasury_3m_pct":4.92,"treasury_10y_pct":3.72},{"month":"2024-10","month_label":"Oct 2024","treasury_3m_pct":4.72,"treasury_10y_pct":4.1},{"month":"2024-11","month_label":"Nov 2024","treasury_3m_pct":4.62,"treasury_10y_pct":4.36},{"month":"2024-12","month_label":"Dec 2024","treasury_3m_pct":4.39,"treasury_10y_pct":4.39},{"month":"2025-01","month_label":"Jan 2025","treasury_3m_pct":4.34,"treasury_10y_pct":4.63},{"month":"2025-02","month_label":"Feb 2025","treasury_3m_pct":4.33,"treasury_10y_pct":4.45},{"month":"2025-03","month_label":"Mar 2025","treasury_3m_pct":4.34,"treasury_10y_pct":4.28},{"month":"2025-04","month_label":"Apr 2025","treasury_3m_pct":4.32,"treasury_10y_pct":4.28},{"month":"2025-05","month_label":"May 2025","treasury_3m_pct":4.36,"treasury_10y_pct":4.42},{"month":"2025-06","month_label":"Jun 2025","treasury_3m_pct":4.42,"treasury_10y_pct":4.38},{"month":"2025-07","month_label":"Jul 2025","treasury_3m_pct":4.41,"treasury_10y_pct":4.39},{"month":"2025-08","month_label":"Aug 2025","treasury_3m_pct":4.3,"treasury_10y_pct":4.26},{"month":"2025-09","month_label":"Sep 2025","treasury_3m_pct":4.07,"treasury_10y_pct":4.12},{"month":"2025-10","month_label":"Oct 2025","treasury_3m_pct":3.98,"treasury_10y_pct":4.06},{"month":"2025-11","month_label":"Nov 2025","treasury_3m_pct":3.94,"treasury_10y_pct":4.09},{"month":"2025-12","month_label":"Dec 2025","treasury_3m_pct":3.68,"treasury_10y_pct":4.14},{"month":"2026-01","month_label":"Jan 2026","treasury_3m_pct":3.67,"treasury_10y_pct":4.21},{"month":"2026-02","month_label":"Feb 2026","treasury_3m_pct":3.69,"treasury_10y_pct":4.13},{"month":"2026-03","month_label":"Mar 2026","treasury_3m_pct":3.72,"treasury_10y_pct":4.25},{"month":"2026-04","month_label":"Apr 2026","treasury_3m_pct":3.7,"treasury_10y_pct":4.32},{"month":"2026-05","month_label":"May 2026","treasury_3m_pct":3.69,"treasury_10y_pct":4.48},{"month":"2026-06","month_label":"Jun 2026","treasury_3m_pct":3.81,"treasury_10y_pct":4.47},{"month":"2026-07","month_label":"Jul 2026","treasury_3m_pct":3.87,"treasury_10y_pct":4.6},{"month":"2026-08","month_label":"Aug 2026","treasury_3m_pct":3.88,"treasury_10y_pct":4.68}],"shape":"series","sql":"SELECT\n    formatDateTime(toStartOfMonth(date), '%Y-%m') AS month,\n    formatDateTime(toStartOfMonth(date), '%b %Y') AS month_label,\n    round(avg(toFloat64(yield_3_month)), 2)       AS treasury_3m_pct,\n    round(avg(toFloat64(yield_10_year)), 2)       AS treasury_10y_pct\nFROM global_markets.treasury_yields\nWHERE date >= today() - 1600\n  AND date <= today()\n  AND yield_3_month > 0\n  AND yield_10_year > 0\nGROUP BY toStartOfMonth(date)\nORDER BY toStartOfMonth(date) ASC","computed_at":"2026-08-22T04:18:56.006831+00:00","elapsed":0.03311782}