{"slug":"t-bill-maturities-and-yields","qid":"horizon","label":"Front-end yields by horizon: 13-week bill, 1-year point, 2-year note","post_title":"T-Bill Maturities and How Yields Are Quoted","post_url":"/blog/t-bill-maturities-and-yields#q-horizon","columns":["week","week_label","bill_3m_pct","bill_1y_pct","note_2y_pct","spread_bps"],"rows":[{"week":"2026-03-30","week_label":"Mar 30","bill_3m_pct":3.7,"bill_1y_pct":3.69,"note_2y_pct":3.81,"spread_bps":11},{"week":"2026-04-06","week_label":"Apr 6","bill_3m_pct":3.7,"bill_1y_pct":3.69,"note_2y_pct":3.81,"spread_bps":10.8},{"week":"2026-04-13","week_label":"Apr 13","bill_3m_pct":3.71,"bill_1y_pct":3.69,"note_2y_pct":3.76,"spread_bps":5.2},{"week":"2026-04-20","week_label":"Apr 20","bill_3m_pct":3.69,"bill_1y_pct":3.68,"note_2y_pct":3.78,"spread_bps":8.6},{"week":"2026-04-27","week_label":"Apr 27","bill_3m_pct":3.68,"bill_1y_pct":3.72,"note_2y_pct":3.86,"spread_bps":18},{"week":"2026-05-04","week_label":"May 4","bill_3m_pct":3.69,"bill_1y_pct":3.76,"note_2y_pct":3.91,"spread_bps":22.2},{"week":"2026-05-11","week_label":"May 11","bill_3m_pct":3.69,"bill_1y_pct":3.8,"note_2y_pct":4,"spread_bps":31},{"week":"2026-05-18","week_label":"May 18","bill_3m_pct":3.67,"bill_1y_pct":3.82,"note_2y_pct":4.09,"spread_bps":41.8},{"week":"2026-05-25","week_label":"May 25","bill_3m_pct":3.69,"bill_1y_pct":3.8,"note_2y_pct":4,"spread_bps":31},{"week":"2026-06-01","week_label":"Jun 1","bill_3m_pct":3.78,"bill_1y_pct":3.84,"note_2y_pct":4.08,"spread_bps":30.2},{"week":"2026-06-08","week_label":"Jun 8","bill_3m_pct":3.79,"bill_1y_pct":3.87,"note_2y_pct":4.11,"spread_bps":32.2},{"week":"2026-06-15","week_label":"Jun 15","bill_3m_pct":3.81,"bill_1y_pct":3.91,"note_2y_pct":4.13,"spread_bps":31.8},{"week":"2026-06-22","week_label":"Jun 22","bill_3m_pct":3.84,"bill_1y_pct":3.99,"note_2y_pct":4.13,"spread_bps":29},{"week":"2026-06-29","week_label":"Jun 29","bill_3m_pct":3.85,"bill_1y_pct":3.98,"note_2y_pct":4.14,"spread_bps":28.5},{"week":"2026-07-06","week_label":"Jul 6","bill_3m_pct":3.86,"bill_1y_pct":4.03,"note_2y_pct":4.18,"spread_bps":32.4},{"week":"2026-07-13","week_label":"Jul 13","bill_3m_pct":3.85,"bill_1y_pct":4.02,"note_2y_pct":4.18,"spread_bps":33.2},{"week":"2026-07-20","week_label":"Jul 20","bill_3m_pct":3.91,"bill_1y_pct":4.1,"note_2y_pct":4.3,"spread_bps":39},{"week":"2026-07-27","week_label":"Jul 27","bill_3m_pct":3.87,"bill_1y_pct":4.08,"note_2y_pct":4.26,"spread_bps":39.2},{"week":"2026-08-03","week_label":"Aug 3","bill_3m_pct":3.89,"bill_1y_pct":4.04,"note_2y_pct":4.21,"spread_bps":32.2},{"week":"2026-08-10","week_label":"Aug 10","bill_3m_pct":3.88,"bill_1y_pct":4,"note_2y_pct":4.2,"spread_bps":32.2},{"week":"2026-08-17","week_label":"Aug 17","bill_3m_pct":3.87,"bill_1y_pct":4,"note_2y_pct":4.2,"spread_bps":33.2},{"week":"2026-08-24","week_label":"Aug 24","bill_3m_pct":3.86,"bill_1y_pct":4.05,"note_2y_pct":4.23,"spread_bps":36.4},{"week":"2026-08-31","week_label":"Aug 31","bill_3m_pct":3.91,"bill_1y_pct":4.15,"note_2y_pct":4.37,"spread_bps":45.6},{"week":"2026-09-07","week_label":"Sep 7","bill_3m_pct":3.99,"bill_1y_pct":4.24,"note_2y_pct":4.5,"spread_bps":51.2},{"week":"2026-09-14","week_label":"Sep 14","bill_3m_pct":4.12,"bill_1y_pct":4.41,"note_2y_pct":4.7,"spread_bps":57.4},{"week":"2026-09-21","week_label":"Sep 21","bill_3m_pct":4.2,"bill_1y_pct":4.48,"note_2y_pct":4.8,"spread_bps":60}],"shape":"series","sql":"SELECT\n    toString(toMonday(date))                AS week,\n    formatDateTime(toMonday(date), '%b %e') AS week_label,\n    round(avg(toFloat64(yield_3_month)), 2) AS bill_3m_pct,\n    round(avg(toFloat64(yield_1_year)), 2)  AS bill_1y_pct,\n    round(avg(toFloat64(yield_2_year)), 2)  AS note_2y_pct,\n    round((avg(toFloat64(yield_2_year)) - avg(toFloat64(yield_3_month))) * 100, 1) AS spread_bps\nFROM global_markets.treasury_yields\nWHERE date >= '2026-04-01'\n  AND date <  '2026-09-26'\n  AND yield_3_month > 0\n  AND yield_1_year  > 0\n  AND yield_2_year  > 0\nGROUP BY week, week_label\nORDER BY week","computed_at":"2026-10-07T15:21:17.474921+00:00","elapsed":0.00317329}