Mean 25-50bp positive; current regime tighter (-5 to +15bp)
| source | FRED swap rate - UST yield differential |
| derivation | data_calibrated |
| quality | calibrated |
| set | 2026-05-25 |
| last reviewed | 2026-05-25 |
| next review due | 2026-12-31 |
Drives basis between swap discount curve and UST curve; affects collateralized derivative pricing.