Interest Rate Scenario Analysis

Model how parallel shifts in interest rates affect estimated total return across the U.S. Treasury curve. Select your time horizon and rate increment to stress-test duration positioning for any portfolio allocation.

Last Updated at 08/17/2026

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Estimated 12-month total return for Benchmark U.S. Treasury Notes and Bonds, Assuming a Parallel Shift in Interest Rates
A hypothetical demonstration of mathematical principles using the horizon and increments selected. Last updated at 08/17/2026.
Treasury Benchmark
On-the-Run Issues
+300bps +200bps +100bps 0bps -100bps -200bps -300bps
2 Year US Treasury 4.19%
91282CRB9 07/31/2028
+1.476% +2.365% +3.266% +4.181% +5.108% +6.049% +7.003%
3 Year US Treasury 4.25%
91282CRG8 08/15/2029
-1.222% +0.558% +2.381% +4.248% +6.162% +8.122% +10.130%
5 Year US Treasury 4.38%
91282CRA1 07/31/2031
-5.732% -2.505% +0.860% +4.371% +8.034% +11.856% +15.846%
7 Year US Treasury 4.54%
91282CRC7 07/31/2033
-9.680% -5.224% -0.493% +4.532% +9.871% +15.545% +21.578%
10 Year US Treasury 4.72%
91282CRF0 08/15/2036
-14.531% -8.656% -2.256% +4.719% +12.326% +20.627% +29.693%
20 Year US Treasury 5.30%
912810UV8 05/15/2046
-23.002% -15.000% -5.673% +5.232% +18.018% +33.050% +50.770%
30 Year US Treasury 5.31%
912810UW6 08/15/2056
-27.575% -18.788% -8.011% +5.308% +21.898% +42.712% +69.008%

Source: U.S. Department of the Treasury data and calculations as of 08/17/2026. The table above shows the estimated 12-month total return from interest and price change of on-the-run, benchmark U.S. Treasury Notes and Bonds for a given move in yields. Yield changes are assumed to be parallel across the curve and are based on duration and yield as of 08/17/2026. This analysis is for illustrative purposes only and is not indicative of future returns.