Treasury Yields

Overview

Treasury Yields sources daily constant-maturity market yields from the Federal Reserve (FRED), the same rates used to construct the Treasury yield curve. Nominal yields span 1-month to 30-year maturities and TIPS real yields span 5-year to 30-year. Historical month-end snapshots are available for trend analysis.

Live Test Treasury Yields Source →

Formula

One function covers the whole catalog: the first argument names the source, the rest are its inputs, and the "field" pair says which single value lands in the cell. Formulas covers the grammar that applies to all of them.

=VERVE("treasuryyields", "field", "bonds")

Inputs

Required inputs are positional, in the order below. Everything else is passed as a "name", value pair after them — the same shape as SUMIFS. Premium inputs are accepted on every plan but only take effect on plans that include them.

Input	Type	Where it goes	Description
`date`OptionalPremium	string	"date", value	Optional month in YYYY-MM format for a recent-month lookup (recent months only). Omit for current data.
`type`OptionalPremium	string	"type", value	Optional filter for a single point. Legacy security types: bills, notes, bonds, tips, frn. Or a maturity: 1mo, 3mo, 6mo, 1yr, 2yr, 3yr, 5yr, 7yr, 10yr, 20yr, 30yr

Passing an option

=VERVE("treasuryyields", "date", "2025-06")

What lands in your sheet

The "field" pair is what makes the formula resolve to one cell. Its value is a dot-path from the table below, so swapping it is how you pull a different value — one formula per column.

Seeing everything at once

Drop the "field" pair and the formula returns the whole response instead: two columns, field name on the left and value on the right, spilling from the cell you typed in.

=VERVE("treasuryyields")

Good for exploring, not for filling down

The second row's table would land on top of the first's, and every cell after the first reads #REF! (#SPILL! in Excel). Keep one per sheet, or name a field, and leave the cells below and to the right empty.

Response fields

Paths are relative to data. Each one is exactly what the "field" pair accepts, so swapping it is how you pull a different value into a cell. On a plan without a Premium field the cell reads #PREMIUM(field) rather than a value, so a locked field never looks like a real answer.

Use as "field"	Type	Example cell value	Description
`date`	string	`2024-02-01`	The date of the treasury yields data in YYYY-MM-DD format
`bills`Premium	number	`5.24`	Benchmark short-term yield (3-month) as percentage
`notes`Premium	number	`4.35`	Benchmark note yield (10-year) as percentage
`bonds`	number	`4.67`	Benchmark long bond yield (30-year) as percentage
`tips`Premium	number	`2.15`	Benchmark TIPS real yield (10-year) as percentage
`frn`Premium	number	`5.31`	Floating Rate Note reference yield (3-month bill) as percentage
`changes`Premium	object	`{…}`	Day-over-day change statistics, keyed by legacy type and by maturity
`changes.bills`Premium	object	`{…}`	Change data for the 3-month benchmark including change1d and direction
`changes.bills.change1d`Premium	number	`0.02`	One-day percentage point change for the 3-month benchmark
`changes.bills.direction`Premium	string	`up`	Direction of change: up, down, or unchanged
`changes.notes`Premium	object	`{…}`	Change data for the 10-year benchmark including change1d and direction
`changes.notes.change1d`Premium	number	`-0.03`	One-day percentage point change for the 10-year benchmark
`changes.notes.direction`Premium	string	`down`	Direction of change: up, down, or unchanged
`changes.bonds`Premium	object	`{…}`	Change data for the 30-year benchmark including change1d and direction
`changes.bonds.change1d`Premium	number	`0.01`	One-day percentage point change for the 30-year benchmark
`changes.bonds.direction`Premium	string	`up`	Direction of change: up, down, or unchanged
`changes.tips`Premium	object	`{…}`	Change data for the 10-year TIPS benchmark including change1d and direction
`changes.tips.change1d`Premium	number	`0`	One-day percentage point change for the 10-year TIPS benchmark
`changes.tips.direction`Premium	string	`unchanged`	Direction of change: up, down, or unchanged
`changes.frn`Premium	object	`{…}`	Change data for the FRN reference (3-month) including change1d and direction
`changes.frn.change1d`Premium	number	`0.02`	One-day percentage point change for the FRN reference
`changes.frn.direction`Premium	string	`up`	Direction of change: up, down, or unchanged
`previousDate`	string	`2024-01-31`

When a cell doesn't fill

A failed lookup returns readable text starting with #ERR rather than a spreadsheet error, because Excel cannot show a custom message on a real error — you would get a bare #VALUE! with no reason. The trade-off is that IFERROR() will not catch it; test with LEFT(cell, 4) = "#ERR" instead. Error handling covers the rest.

Cell reads	What happened
`#ERR Not connected`	No API key saved. Open the side panel and connect your account.
`#ERR Replace <name> with a cell or value`	A preview formula was copied as-is. Swap the placeholder for a cell reference.
`#ERR No "x" in treasuryyields`	An option name this source does not take. The message lists the ones it does.
`#ERR No data point "…"`	The `"field"` path is not in the response. Check it against the table above.
`#PREMIUM(field)`	The field exists but your plan does not include it.
`#ERR Out of credits`	The cycle's credits are spent. Usage resets on your billing date.

Before the formula works

The add-in reads the API key you saved once in the side panel — the key never goes in the formula, so a shared sheet does not leak it and a collaborator without access simply sees the last calculated values.

Install the add-in for Google Sheets or Excel.
Open the side panel and sign in, or paste a key from your dashboard.
Type the formula above into any cell.

Use cases

Yield Curve Analysis: Build yield curves using Treasury rates across different maturities
Fixed Income Research: Analyze treasury securities for investment research and portfolio management
Financial Modeling: Use risk-free rates for DCF models and derivatives pricing
Economic Indicators: Track treasury yields as indicators of economic conditions and Fed policy

Other ways to use Treasury Yields

Set up Treasury Yields on VerveSheets, or reach the same source a different way. Your VerveSheets account and credits work on all of them — one key, one balance.

Call it as a REST APIOne HTTPS endpoint and an x-api-key header, with SDKs for Node, Python and .NET.APIVerve →Reference →

Give it to an AI agentConnect over MCP and your agent calls it as a native tool — Claude, Cursor, ChatGPT.VerveKit →Reference →

Ground an agent on itA cited, machine-checkable fact your model can't produce on its own.VerveContext →Reference →