Home / Rates / 3M Treasury bill yield
3M Treasury bill yield
3M Treasury bill yield is 4.3% and has been rising over the last 3 months. That is high by historical standards: higher than 83% of readings since 2006.
Latest (latest reading)
4.3%
As of
Nov 12, 2026
3-month change
+45 bps
1-year change
+37 bps
20-year percentile
83rd
20-year median
0.4%
What it is. Shortest benchmark Treasury rate; moves almost one-for-one with the Fed rate. A higher reading means more rate tightness in the Rates reading.
What it affects next
3M Treasury bill yield is rising: 4.3% (+45 bps in 3 months, 83rd percentile of the last 20 years). Here is what has tended to follow, based on links the data backs up.
No tested downstream links to trace yet.
What is driving it
- ←Fed funds rate is high, which has historically lined up with this indicator rising at the same time.
All tested links
Short Treasury bills track the Fed's policy rate almost one-for-one. Typical lag: same month. Strongest match in the same period (correlation 0.98, 371 observations since 1996).
Source: Treasury via FRED (series DGS3MO).