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10-Year Treasury Yield in 1998

The US 10-year Treasury yield fell 1.10 percentage points in 1998, from 5.75% at the end of 1997 to 4.65%. Its highest close was 5.81% on Apr 29, and its lowest 4.16% on Oct 5.

Change in 1998
−1.10 pp
5.75% → 4.65%
High
5.81%
Apr 29
Low
4.16%
Oct 5
Up days
108 of 250
longest run 6 up, 6 down

10-Year Treasury Yield, daily closes 1998

Numbers mark the events below
4.32%4.99%5.65%JanFebMarAprMayJunJulAugSepOctNovDec1Aug 17: Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments.2Sep 23: New York Fed organizes a $3.6 billion recapitalization of Long-Term Capital Management by 14 institutions.3Sep 29: Fed cuts its federal funds target to 5.25%, the first of three cuts in autumn 1998.4Oct 15: Fed cuts its federal funds target to 5.00%.

Key Events in 1998

What happened, and how the 10Y yield moved — on the day (or the next trading day) and about a month later.

  1. 1
    Monday, August 17
    Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments. Source
    10Y yield: 0.00 pp that day · −0.50 pp a month later
  2. 2
    Wednesday, September 23
    New York Fed organizes a $3.6 billion recapitalization of Long-Term Capital Management by 14 institutions. Source
    10Y yield: −0.04 pp that day · −0.11 pp a month later
  3. 3
    Tuesday, September 29
    Fed cuts its federal funds target to 5.25%, the first of three cuts in autumn 1998. Source
    10Y yield: −0.02 pp that day · −0.01 pp a month later
  4. 4
    Thursday, October 15
    Fed cuts its federal funds target to 5.00%. Source
    10Y yield: 0.00 pp that day · +0.24 pp a month later

Month by month

MonthCloseChangeHighLow
Jan5.53%−0.22 pp5.70%5.39%
Feb5.62%+0.09 pp5.69%5.44%
Mar5.67%+0.05 pp5.78%5.54%
Apr5.68%+0.01 pp5.81%5.47%
May5.56%−0.12 pp5.79%5.56%
Jun5.44%−0.12 pp5.59%5.38%
Jul5.50%+0.06 pp5.52%5.39%
Aug5.05%−0.45 pp5.46%5.05%
Sep4.44%−0.61 pp5.10%4.44%
Oct4.64%+0.20 pp4.77%4.16%
Nov4.74%+0.10 pp4.93%4.74%
Dec4.65%−0.09 pp4.86%4.53%

Other Markets in 1998

Change over the calendar year.

MarketChangeYear-end
10-Year Treasury Yield−1.10 pp4.65%
Dow Jones Industrial Average in 1998+16.1%9,181.43
S&P 500 in 1998+26.7%1,229.23
Nasdaq Composite in 1998+39.6%2,192.69
Russell 2000 in 1998−3.4%421.96
Nikkei 225 in 1998−9.3%13,842.17
Gold in 1998−0.8%$287.80
Silver in 1998−16.2%$5.01
WTI crude oil in 1998−31.2%$12.14
Brent crude oil in 1998−33.5%$10.54
1990199119921993199419951996199719981999

10-Year Treasury Yield in 1998: FAQ

How much did the US 10-year Treasury yield fall in 1998?

The US 10-year Treasury yield fell 1.10 percentage points in 1998, from 5.75% at the end of 1997 to 4.65%. Its highest close was 5.81% on Apr 29, and its lowest 4.16% on Oct 5.

What were the highest and lowest closes of the US 10-year Treasury yield in 1998?

Highest: 5.81% on April 29, 1998. Lowest: 4.16% on October 5, 1998. It closed higher on 108 of 250 trading days.

What happened to the US 10-year Treasury yield on September 23, 1998?

New York Fed organizes a $3.6 billion recapitalization of Long-Term Capital Management by 14 institutions. The US 10-year Treasury yield fell 0.04 percentage points that day, and was −0.11 pp a month later.

Data: 10-year constant-maturity Treasury yield (Federal Reserve H.15 via FRED). Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.