MONEY GLOBE XCanada and US government bond yields: 2, 5 and 10 years
In Canada the 10-year yields 60 basis points more than the 2-year - a normal, upward-sloping curve. In the US the 10-year yields 33 basis points more than the 2-year - a normal, upward-sloping curve.
| 2-year | 5-year | 10-year | |
|---|---|---|---|
| Canada | 3.33% +1 bp in a month | 3.64% +5 bp in a month | 3.93% +6 bp in a month |
| United States | 4.79% +3 bp in a month | 4.94% +8 bp in a month | 5.12% +11 bp in a month |
What bond yields tell you
The 2-year yield follows where markets expect the central bank's rate to go. The 10-year reflects growth and inflation expectations and drives fixed mortgage rates - in Canada, 5-year fixed mortgages follow the 5-year yield closely. A basis point (bp) is one hundredth of a percentage point.
Interest rates and next decisionsCanada vs US economy
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Updated October 21, 2026, 10:02 UTC. Sources: Bank of Canada benchmark bond yields; US Treasury daily par yield curve, FRED. End-of-day official data. Educational information only - not financial advice.