{"slug":"what-is-the-5s30s-spread","qid":"split_years","label":"split_years","post_title":"what-is-the-5s30s-spread","post_url":"/blog/what-is-the-5s30s-spread#q-split_years","columns":["year","inverted_2s10s_session_count","inverted_5s30s_session_count","split_session_count"],"rows":[{"year":"1998","inverted_2s10s_session_count":27,"inverted_5s30s_session_count":0,"split_session_count":27},{"year":"2000","inverted_2s10s_session_count":227,"inverted_5s30s_session_count":179,"split_session_count":53},{"year":"2005","inverted_2s10s_session_count":3,"inverted_5s30s_session_count":0,"split_session_count":3},{"year":"2006","inverted_2s10s_session_count":163,"inverted_5s30s_session_count":22,"split_session_count":145},{"year":"2007","inverted_2s10s_session_count":72,"inverted_5s30s_session_count":0,"split_session_count":72},{"year":"2019","inverted_2s10s_session_count":3,"inverted_5s30s_session_count":0,"split_session_count":3},{"year":"2022","inverted_2s10s_session_count":125,"inverted_5s30s_session_count":81,"split_session_count":52},{"year":"2023","inverted_2s10s_session_count":250,"inverted_5s30s_session_count":96,"split_session_count":150},{"year":"2024","inverted_2s10s_session_count":166,"inverted_5s30s_session_count":0,"split_session_count":166}],"shape":"ranking","sql":"SELECT\n    toString(toYear(date))                         AS year,\n    countIf(spread_2s10s < 0)                      AS inverted_2s10s_session_count,\n    countIf(spread_5s30s < 0)                      AS inverted_5s30s_session_count,\n    countIf(spread_2s10s < 0 AND spread_5s30s > 0) AS split_session_count\nFROM\n(\n    SELECT\n        date,\n        toFloat64(yield_30_year) - toFloat64(yield_5_year) AS spread_5s30s,\n        toFloat64(yield_10_year) - toFloat64(yield_2_year) AS spread_2s10s\n    FROM global_markets.treasury_yields\n    WHERE date >= toStartOfYear(subtractYears(today(), 30))\n      AND yield_2_year  > 0\n      AND yield_5_year  > 0\n      AND yield_10_year > 0\n      AND yield_30_year > 0\n)\nGROUP BY year\nHAVING inverted_2s10s_session_count > 0 OR inverted_5s30s_session_count > 0\nORDER BY year","computed_at":"2026-09-28T15:10:33.839332+00:00","elapsed":0.187275514}