10-Year Treasury Yield in 2008

The US 10-year Treasury yield fell 1.79 percentage points in 2008, from 4.04% at the end of 2007 to 2.25%. Its highest close was 4.27% on Jun 13, and its lowest 2.08% on Dec 18.

Change in 2008

−1.79 pp

4.04% → 2.25%

High

4.27%

Jun 13

Low

2.08%

Dec 18

Up days

111 of 252

longest run 6 up, 7 down

10-Year Treasury Yield, daily closes 2008

Numbers mark the events below

Key Events in 2008

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

1
Tuesday, January 22

Fed makes an emergency inter-meeting cut of 75 basis points to 3.50%. Source

10Y yield: −0.14 pp that day · +0.27 pp a month later
2
Sunday, March 16

JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. Source

10Y yield: −0.10 pp next trading day (Mar 17) · +0.16 pp a month later
3
Sunday, September 7

Fannie Mae and Freddie Mac are placed into federal conservatorship. Source

10Y yield: 0.00 pp next trading day (Sep 8) · −0.18 pp a month later
4
Monday, September 15

Lehman Brothers files for Chapter 11 bankruptcy protection. Source

10Y yield: −0.27 pp that day · +0.34 pp a month later
5
Friday, October 3

Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. Source

10Y yield: −0.03 pp that day · +0.30 pp a month later
6
Tuesday, November 25

Fed announces purchases of up to $600 billion in agency MBS and agency debt. Source

10Y yield: −0.24 pp that day · −1.15 pp a month later
7
Tuesday, December 16

Fed cuts its federal funds target to a range of 0 to 0.25%. Source

10Y yield: −0.16 pp that day · −0.30 pp a month later

Month by month

Month	Close	Change	High	Low
Jan	3.67%	−0.37 pp	3.91%	3.51%
Feb	3.53%	−0.14 pp	3.93%	3.53%
Mar	3.45%	−0.08 pp	3.70%	3.34%
Apr	3.77%	+0.32 pp	3.91%	3.49%
May	4.06%	+0.29 pp	4.08%	3.77%
Jun	3.99%	−0.07 pp	4.27%	3.92%
Jul	3.99%	0.00 pp	4.16%	3.83%
Aug	3.83%	−0.16 pp	4.06%	3.77%
Sep	3.85%	+0.02 pp	3.88%	3.41%
Oct	4.01%	+0.16 pp	4.08%	3.48%
Nov	2.93%	−1.08 pp	3.96%	2.93%
Dec	2.25%	−0.68 pp	2.77%	2.08%

Other Markets in 2008

Change over the calendar year.

Market	Change	Year-end
10-Year Treasury Yield	−1.79 pp	2.25%
Dow Jones Industrial Average in 2008	−33.8%	8,776.39
S&P 500 in 2008	−38.5%	903.25
Nasdaq Composite in 2008	−40.5%	1,577.03
Russell 2000 in 2008	−34.8%	499.45
Nikkei 225 in 2008	−42.1%	8,859.56
Gold in 2008	+4.3%	$869.75
Silver in 2008	−26.9%	$10.79
WTI crude oil in 2008	−53.5%	$44.60
Brent crude oil in 2008	−61.8%	$35.82

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

10-Year Treasury Yield in 2008: FAQ

How much did the US 10-year Treasury yield fall in 2008?

The US 10-year Treasury yield fell 1.79 percentage points in 2008, from 4.04% at the end of 2007 to 2.25%. Its highest close was 4.27% on Jun 13, and its lowest 2.08% on Dec 18.

What were the highest and lowest closes of the US 10-year Treasury yield in 2008?

Highest: 4.27% on June 13, 2008. Lowest: 2.08% on December 18, 2008. It closed higher on 111 of 252 trading days.

What happened to the US 10-year Treasury yield on September 15, 2008?

Lehman Brothers files for Chapter 11 bankruptcy protection. The US 10-year Treasury yield fell 0.27 percentage points that day, and was +0.34 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.