Government of Canada 10-year minus 2-year yield spread, Canada
Government of Canada 10-year minus 2-year yield spread was 0.62 pp in September 2026, down 0.10 pp from August 2026 and down 0.10 pp from a year earlier. The figure is published by Bank of Canada in Valet. The series starts in January 2006 and has 249 observations. Source: Bank of Canada.
- On the previous reading (August 2026): down 0.10 pp, to 0.62 pp
- On a year earlier (September 2025): down 0.10 pp
- Against the five-year average of -0.01 pp: above
Sparklines: the last ten years; the amber dot marks the reading in the tile. Source: Bank of Canada. Monthly figures are EconoMonitor calculations from the Bank's daily data. This information is available free of charge on bankofcanada.ca. EconoMonitor is not affiliated with or endorsed by the Bank of Canada.
Overview
Over the last five years the series ranged from -1.23 pp (July 2023) to 0.84 pp (January 2026). Since January 2006 the full range is -1.23 pp (July 2023) to 2.21 pp (January 2010).
Key facts
| Reading | Period | Value |
|---|---|---|
| Latest | September 2026 | 0.62 pp |
| Previous | August 2026 | 0.72 pp |
| A year earlier | September 2025 | 0.72 pp |
| Five-year high | January 2026 | 0.84 pp |
| Five-year low | July 2023 | -1.23 pp |
| First observation | January 2006 | 0.24 pp |
Unit: percentage points. Source: Bank of Canada. Monthly figures are EconoMonitor calculations from the Bank's daily data. This information is available free of charge on bankofcanada.ca. EconoMonitor is not affiliated with or endorsed by the Bank of Canada.
How has it moved since January 2006?
Full history
- Government of Canada 10-year minus 2-year yield spread 0.6
Last five years
- Government of Canada 10-year minus 2-year yield spread 0.6
Latest readings
| Period | Value | Change from previous |
|---|---|---|
| September 2025 | 0.72 pp | -0.01 pp |
| October 2025 | 0.71 pp | 0.00 pp |
| November 2025 | 0.73 pp | +0.02 pp |
| December 2025 | 0.81 pp | +0.08 pp |
| January 2026 | 0.84 pp | +0.03 pp |
| February 2026 | 0.80 pp | -0.04 pp |
| March 2026 | 0.68 pp | -0.12 pp |
| April 2026 | 0.65 pp | -0.02 pp |
| May 2026 | 0.61 pp | -0.04 pp |
| June 2026 | 0.63 pp | +0.02 pp |
| July 2026 | 0.71 pp | +0.08 pp |
| August 2026 | 0.72 pp | +0.01 pp |
| September 2026 | 0.62 pp | -0.10 pp |
How does the latest reading compare?
The latest reading of 0.62 pp in September 2026 is above its five-year average of -0.01 pp and above its ten-year average of 0.21 pp. It is higher than 46% of all 249 readings since January 2006. The fall in September 2026 ended a run in the other direction or a flat reading. Over the last 12 readings, from October 2025 to September 2026, it averaged 0.71 pp, with a high of 0.84 pp in January 2026 and a low of 0.61 pp in May 2026. In the last ten years the largest rise from one reading to the next was in March 2021, to 1.24 pp from 0.89 pp in February 2021, and the largest fall was in August 2022, to -0.50 pp from -0.13 pp in July 2022.
Among the last 9 complete years, the average was highest in 2021, at 0.88 pp, and lowest in 2023, at -0.91 pp.
Year by year
| Year | Average | Low | High | Last reading | Readings |
|---|---|---|---|---|---|
| 2026 | 0.69 pp | 0.61 pp | 0.84 pp | 0.62 pp September 2026 | 9 |
| 2025 | 0.63 pp | 0.36 pp | 0.81 pp | 0.81 pp December 2025 | 12 |
| 2024 | -0.33 pp | -0.69 pp | 0.17 pp | 0.17 pp December 2024 | 12 |
| 2023 | -0.91 pp | -1.23 pp | -0.71 pp | -0.78 pp December 2023 | 12 |
| 2022 | -0.13 pp | -0.87 pp | 0.58 pp | -0.87 pp December 2022 | 12 |
| 2021 | 0.88 pp | 0.47 pp | 1.24 pp | 0.47 pp December 2021 | 12 |
| 2020 | 0.24 pp | -0.12 pp | 0.49 pp | 0.49 pp December 2020 | 12 |
| 2019 | 0.00 pp | -0.18 pp | 0.14 pp | -0.06 pp December 2019 | 12 |
| 2018 | 0.29 pp | 0.08 pp | 0.51 pp | 0.08 pp December 2018 | 12 |
| 2017 | 0.69 pp | 0.34 pp | 0.95 pp | 0.34 pp December 2017 | 12 |
Averages, lows and highs are calculated by EconoMonitor from the published readings. Source: Bank of Canada. Monthly figures are EconoMonitor calculations from the Bank's daily data. This information is available free of charge on bankofcanada.ca. EconoMonitor is not affiliated with or endorsed by the Bank of Canada.
How is it measured?
Difference between the monthly average 10-year and 2-year benchmark yields.
Government of Canada 10-year minus 2-year yield spread is published monthly by Bank of Canada in its Valet release. It is measured in percentage points. EconoMonitor holds all 249 readings since January 2006, keeps earlier values when the publisher revises them, and compares each release with the downloaded file before it is shown. Formula: ca_goc_10y - ca_goc_2y.
- Formula: ca_goc_10y - ca_goc_2y.
- Frequency: monthly.
- Unit: percentage points.
- Release: Valet, published by Bank of Canada.
- Source series code: .
- Methodology: how EconoMonitor stores and checks this series.
Questions and sources
What is the latest reading of Government of Canada 10-year minus 2-year yield spread?
0.62 pp in September 2026, as published by Bank of Canada.
How often is it updated?
Monthly, with each Valet release. EconoMonitor reloads the series after each release and keeps earlier values when the publisher revises them.
Where can I check it?
At the publisher: Bank of Canada Valet API, series code .
Source: Bank of Canada. Monthly figures are EconoMonitor calculations from the Bank's daily data. This information is available free of charge on bankofcanada.ca. EconoMonitor is not affiliated with or endorsed by the Bank of Canada. Checks for this release: Check A passed, Check B passed.
Data and analysis only, not financial advice. Data publishers do not endorse EconoMonitor. See the disclaimer and methodology.