Treasury Yield Spread Widens to 0.48 Percentage Points
New Treasury data shows a slight steepening of the yield curve alongside a mix of cooling inflation and steady labor metrics.
**Coverage:** Fresh at 2026-08-11: 10-Year Treasury Minus 2-Year Treasury Yield Spread. Latest available but older: Personal Consumption Expenditures Price Index, Real GDP, % Change from Preceding Period, Average Hourly Earnings, Total Private (SA), CPI-U, All Items (NSA), CPI-U, All Items (SA), CPI-U, All Items Less Food & Energy — Core CPI (SA), JOLTS Job Openings, Total Nonfarm (SA), PPI Final Demand (SA), Total Nonfarm Payroll Employment (SA), Unemployment Rate (SA), Advance Monthly Retail Sales, Total (ex. auto/gas categories vary), New Residential Construction, Housing Starts (Total), 10-Year Treasury Constant Maturity Rate, 2-Year Treasury Constant Maturity Rate, Effective Federal Funds Rate, ICE BofA US High Yield Index Option-Adjusted Spread.
The 10-Year Treasury Minus 2-Year Treasury Yield Spread rose to 0.48 percentage points on August 11. This represents a 0.01 percentage point increase from the previous day.
The unemployment rate fell 0.10 percentage points to 4.10% in July. Total nonfarm payroll employment decreased by 23,000 persons during the same month, while average hourly earnings rose 0.1% to $37.62 per hour. Job openings for total nonfarm sectors fell 2.4% in June to 7,359,000.
Inflation indicators show varying trends. The seasonally adjusted CPI-U for all items rose 0.1% in July, while the Core CPI rose 0.2%. In June, the PPI Final Demand fell 1.4% and the BEA Personal Consumption Expenditures Price Index declined 0.1%.
Growth and consumption remained positive. Real GDP grew 1.50% in the period ending April 1. June retail sales increased by $1,677 million, and housing starts rose 19.0% to 1,427,000 units.