episodes_compared
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-09-17, from what-is-the-3m10y-spread.
| label | days_2s10s_inverted | days_3m10y_inverted | deepest_2s10s_bps | deepest_3m10y_bps | first_2s10s_inversion | first_3m10y_inversion | last_2s10s_inversion | last_3m10y_inversion |
|---|---|---|---|---|---|---|---|---|
| 2006-07 | 235 | 243 | -19 | -64 | Jan 31, 2006 | Jan 17, 2006 | Jun 5, 2007 | Aug 27, 2007 |
| 2019 | 3 | 104 | -4 | -52 | Aug 27, 2019 | Mar 22, 2019 | Aug 29, 2019 | Oct 10, 2019 |
| 2022-24 | 541 | 535 | -108 | -189 | Apr 1, 2022 | Oct 18, 2022 | Sep 5, 2024 | Dec 12, 2024 |
- Rows × columns
- 3 × 9
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
label |
text | 3 distinct values (2006-07, 2019, 2022-24) | |
days_2s10s_inverted |
number | 3 to 541 | |
days_3m10y_inverted |
number | 104 to 535 | |
deepest_2s10s_bps |
number | -108 to -4 | |
deepest_3m10y_bps |
number | -189 to -52 | |
first_2s10s_inversion |
text | 3 distinct values (Apr 1, 2022, Aug 27, 2019, Jan 31, 2006) | |
first_3m10y_inversion |
text | 3 distinct values (Jan 17, 2006, Mar 22, 2019, Oct 18, 2022) | |
last_2s10s_inversion |
text | 3 distinct values (Aug 29, 2019, Jun 5, 2007, Sep 5, 2024) | |
last_3m10y_inversion |
text | 3 distinct values (Aug 27, 2007, Dec 12, 2024, Oct 10, 2019) |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
the exact SQL behind every number
SELECT
label,
countIf(spread_2s10s_bps < 0) AS days_2s10s_inverted,
countIf(spread_3m10y_bps < 0) AS days_3m10y_inverted,
toInt32(round(min(spread_2s10s_bps))) AS deepest_2s10s_bps,
toInt32(round(min(spread_3m10y_bps))) AS deepest_3m10y_bps,
if(countIf(spread_2s10s_bps < 0) > 0,
formatDateTime(minIf(date, spread_2s10s_bps < 0), '%b %e, %Y'), 'never') AS first_2s10s_inversion,
if(countIf(spread_3m10y_bps < 0) > 0,
formatDateTime(minIf(date, spread_3m10y_bps < 0), '%b %e, %Y'), 'never') AS first_3m10y_inversion,
if(countIf(spread_2s10s_bps < 0) > 0,
formatDateTime(maxIf(date, spread_2s10s_bps < 0), '%b %e, %Y'), 'never') AS last_2s10s_inversion,
if(countIf(spread_3m10y_bps < 0) > 0,
formatDateTime(maxIf(date, spread_3m10y_bps < 0), '%b %e, %Y'), 'never') AS last_3m10y_inversion
FROM
(
SELECT
date,
multiIf(date BETWEEN toDate('2006-01-01') AND toDate('2007-12-31'), '2006-07',
date BETWEEN toDate('2019-01-01') AND toDate('2019-12-31'), '2019',
date BETWEEN toDate('2022-01-01') AND toDate('2024-12-31'), '2022-24',
'other') AS label,
(toFloat64(yield_10_year) - toFloat64(yield_2_year)) * 100 AS spread_2s10s_bps,
(toFloat64(yield_10_year) - toFloat64(yield_3_month)) * 100 AS spread_3m10y_bps
FROM global_markets.treasury_yields
WHERE date >= toDate('2006-01-01')
AND date < toDate('2025-01-01')
AND yield_3_month > 0
AND yield_2_year > 0
AND yield_10_year > 0
)
WHERE label != 'other'
GROUP BY label
ORDER BY label
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