This tile is stale: the value shown is the last
one the source published, never a fabricated current number.
The full history
1962
high 4.32 · low 0.06 · now 0.67 · 8 recessions shaded 2026
How it is read
What it measures
rate volatility
Confidence
CONTESTED : a proxy or scholarly input; read as descriptive, not a verdict. The full definition and its limits live on the Methodology page.
Reliability (DRS)
DRS 60: Annualized standard deviation of daily 10-year yield changes over the trailing 20 sessions (×√252). A shippable, keyless proxy for the proprietary MOVE index (F3); PLAUSIBLE, disclosed.
Where it comes from
DERIVED ↗Every number on this site is reproducible from this primary source.
What it read at past stress points
Lehman, Sep 2008
1.19
· CALM
Q4-2018 selloff
0.45
· CALM
Curve inversion, Aug 2019
0.88
· CALM
COVID crash, Mar 2020
2.26
▲ EXTREME
Questions it helps answer
The Ledge: How high is the market, and what is under it?