RatesU.S. TreasuryDaily
5-Year Real Yield (5Y TIPS)
What is 5-Year Real Yield (5Y TIPS)?
The 5-Year Real Yield is the yield on the 5-year Treasury Inflation-Protected Security, representing the inflation-adjusted real interest rate over a 5-year horizon.
Why it matters
The 5Y real yield is the most sensitive part of the real curve to Fed policy expectations. Rising real yields pressure long-duration assets, gold, and growth equities; falling real yields support them.
How to read prints
When it rises
Real funding costs rising; pressures duration, growth, gold.
When it falls
Real costs falling; supports duration, growth, gold.
Frequently asked
What is a 5-year real yield?⌄
The yield on a 5-year TIPS, which compensates investors for inflation by adjusting principal with realized CPI. It represents the markets read on the inflation-adjusted real interest rate.
Why watch the 5Y real yield specifically?⌄
It sits at the intersection of the Fed-policy horizon (2-3 years) and the long-duration horizon (10+ years), making it the most informative for cross-asset positioning.
How do real yields drive gold?⌄
Gold has no yield. When real yields rise, the opportunity cost of holding gold rises and gold tends to fall (correlation typically -0.6 to -0.8).
What is the difference between 5Y real yield and 5Y nominal yield?⌄
Nominal includes expected inflation. 5Y nominal - 5Y real = 5Y breakeven, the markets implied average CPI over 5 years.
Track it on Market Ontology
Monitor 5-Year Real Yield (5Y TIPS) in real time on Macro Regime, alongside regime classification, transmission mapping, and cross-asset context.
| Source | U.S. Treasury |
| Frequency | Daily |
| Category | Rates |
| FRED Series | DFII5 |
| Unit | % |
| Related Module | Macro Regime |
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Track 5-Year Real Yield (5Y TIPS) in real time
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