Treasury yield is the effective annual interest rate that the U.S. government pays on one of its debt obligations, expressed as a percentage. Specifically, it refers to the annual return investors can expect from holding a U.S. government security with a given maturity. Treasury yields are inversely related to Treasury prices, and each Treasury debt maturity trades at its own yield, an expression of price. The U.S. Treasury publishes the yields of all Treasury maturities daily on its website. The 10-year Treasury yield refers to the return expected on 10-year Treasury notes sold today. Treasury notes are a low-risk fixed-income investment that pays a set rate of interest every six months. The 10-year Treasury yield is frequently used in the news as a barometer or proxy for economic factors, including investor sentiment and mortgage rates. Changes in the 10-year Treasury yield tell us a great deal about the economic landscape and global market sentiment, and professional investors analyze patterns in 10-year Treasury yields and make predictions about how yields will move over time. Declines in the 10-year Treasury yield generally indicate caution about global economic conditions while gains signal global economic confidence.