The Federal Reserve Board’s official daily selected-interest-rate release, H.15, is one of the most cited and most often over-read official documents in a week when inflation data, coupon auctions and risk assets are all moving at once. The H.15 page retrieved for this article is dated November 10, 2026, and it still shows daily columns only through Monday, November 9, 2026. On that official close, the 10-year Treasury constant maturity was 4.88 percent, the 30-year was 5.26 percent, and the 10-year inflation-indexed constant maturity was 2.66 percent. The Board’s official notice on the same page states that the release “is posted daily Monday through Friday at 4:15pm” and “is not posted on holidays or in the event that the Board is closed.” Wednesday, November 11, 2026, was Veterans Day and a Federal Reserve holiday, so there was no official H.15 that day. The official source used here is that November 10 release, which still shows daily columns only through Monday, November 9. Official constant-maturity yields for November 10, 11 and 12 are therefore not invented here. The November 12 30-year competitive close, scheduled for 1:00 p.m. Eastern, had not yet been published as an official result.
That documentary patience is the entire method. Secondary headlines after the official October CPI print talked about the 10-year moving back toward or through 5 percent. The official 10-year note auction on November 10 stopped at a high yield of 5.020 percent, as already documented in the official results release and in our account of that sale. Those are official facts. They are not the same official fact as an H.15 10-year close above 5 percent, because the official H.15 column for such a close is not yet on the November 10 release. This guide explains how to read the official table that does exist, how to use the official footnotes, and how to keep auction yields, constant-maturity yields, and still-unreleased prints in separate cells.
What the official November 10 release actually shows through November 9
The official table is labeled “Selected Interest Rates,” with “Yields in percent per annum,” and the constant-maturity block is split into nominal and inflation-indexed series. The columns on the November 10 release are November 3, 4, 5, 6 and 9 — a Friday-through-Monday business-day sequence that already skips the weekend. Selected official rows are reproduced below from that table. They are not a complete reprint of every official instrument on the page, and they are not a November 10 close.
| Official H.15 instrument | Nov. 3 | Nov. 4 | Nov. 5 | Nov. 6 | Nov. 9 |
|---|---|---|---|---|---|
| Federal funds (effective) | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 |
| Bank prime loan | 7.00 | 7.00 | 7.00 | 7.00 | 7.00 |
| Discount window primary credit | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| 3-month Treasury bill (secondary market) | 4.03 | 4.03 | 4.00 | 4.01 | 4.06 |
| Nominal 2-year constant maturity | 4.61 | 4.58 | 4.46 | 4.51 | 4.56 |
| Nominal 5-year constant maturity | 4.74 | 4.69 | 4.59 | 4.64 | 4.67 |
| Nominal 10-year constant maturity | 4.95 | 4.90 | 4.84 | 4.86 | 4.88 |
| Nominal 30-year constant maturity | 5.32 | 5.28 | 5.25 | 5.26 | 5.26 |
| Inflation-indexed 10-year constant maturity | 2.65 | 2.64 | 2.60 | 2.63 | 2.66 |
| Inflation-indexed 30-year constant maturity | 3.09 | 3.08 | 3.05 | 3.07 | 3.08 |
Several official facts are already visible without any unofficial interpolation. The effective federal funds rate is unchanged at 3.88 percent across the five official columns. The prime rate is unchanged at 7.00 percent, and primary credit is unchanged at 4.00 percent. The nominal 10-year constant maturity, by contrast, moved from 4.95 percent on November 3 to 4.84 percent on November 5, then back up to 4.88 percent on November 9. It did not, in these official columns, close at 5 percent. The nominal 30-year remained above 5 percent throughout the official window, at 5.26 percent on both November 6 and November 9. A headline that says “yields are back above 5 percent” is therefore official for the 30-year constant maturity in this table, and is not official for the 10-year constant maturity in this table. Accuracy is a matter of naming the official row.
How official constant-maturity yields are produced
The Board’s official footnotes are not decoration. Footnote 9 on the H.15 page states that nominal constant-maturity yields are “yields on actively traded non-inflation-indexed issues adjusted to constant maturities,” and that the source is the U.S. Treasury. The page’s description section then explains that these yields “are interpolated by the U.S. Treasury from the daily yield curve for non-inflation-indexed Treasury securities.” “This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market.” “These market yields are calculated from composites of quotations obtained by the Federal Reserve Bank of New York.” “The constant maturity yield values are read from the yield curve at fixed maturities, currently 1, 3, and 6 months and 1, 2, 3, 5, 7, 10, 20, and 30 years.” “This method provides a yield for a 10-year maturity, for example, even if no outstanding security has exactly 10 years remaining to maturity.” Inflation-indexed constant-maturity yields are interpolated in a parallel official way from the TIPS curve, at 5, 7, 10, 20 and 30 years.
The official 4.88 percent 10-year on November 9 is therefore an interpolated official constant-maturity value, not automatically the coupon of the new 10-year note that was auctioned the next day, and not automatically the yield of any one outstanding issue that happens to have a remaining life close to 10 years. That is why an official auction stop and an official H.15 close can differ even when both are correctly reported. It is also why this guide does not treat a 5.020 percent auction high yield as if it had already rewritten the November 9 4.88 percent column.
The publication clock, holidays and empty columns
The official posting rule — 4:15 p.m. Eastern on business days, no posting on holidays or when the Board is closed — is as important as any yield in the table when a holiday sits in the middle of a data week. Because official posting is at 4:15 p.m. Eastern on business days, a later calendar date does not automatically contain a same-day official column until that posting exists. Veterans Day 2026 fell on Wednesday, November 11. The Federal Reserve holiday meant no H.15 that day. SIFMA had also recommended a full U.S. dollar fixed-income close for the holiday, a fact already documented in earlier official-hours coverage, while official NYSE materials said cash equities would be open. Those market-hour distinctions matter for trading desks. For H.15 readers, the narrower official fact is simpler: no Fed holiday posting, and no invented holiday yield column.
A release date and a last data column can also part company, and they did so on the November 10 H.15. The page is dated November 10, but the daily columns end on November 9. A reader who sees “Release date: November 10, 2026” and assumes the table contains a November 10 close is misreading the official header. This is not an unusual official pattern when a release is posted after a close, or when a later column has not yet been added. The method is to read the column headers, not only the release date. The official source used here is the November 10 release, whose daily columns end on November 9. This article therefore does not fill November 10, 11 or 12 constant-maturity cells from screens or from memory.
Nominal, inflation-indexed, and a difference that is still dated
Official real-rate discussions often start from the official H.15 pair of a nominal constant-maturity yield and an inflation-indexed constant-maturity yield of the same official tenor. On November 9, the official 10-year nominal yield was 4.88 percent and the official 10-year inflation-indexed yield was 2.66 percent. The simple arithmetic difference is 2.22 percentage points. That difference is a dated official-series comparison, not a traded breakeven on a specific bond pair, and not a Federal Reserve staff forecast of inflation. The official inflation-indexed series is itself an interpolation, as the footnotes say. This article reports the two official November 9 figures and the official fact that they can be compared, and it does not promote 2.22 percent as “the” official real 10-year yield for November 12, after the auction, after the holiday, or after still-unreleased producer prices.
The same official CPI week that has already been written up from the Bureau of Labor Statistics — a 0.4 percent monthly increase in October consumer prices and a 0.3 percent increase in the index excluding food and energy, as discussed in our official CPI account — is one reason real yields are being watched. Official inflation prints and official yield tables are still different documents. A hotter CPI print can be official on Tuesday, and the official H.15 10-year can still, as of the last published column, be 4.88 percent on Monday. Those two official facts can sit next to each other without either one being rewritten. Gold-market commentary in the same week, already covered from official yield and price context, should likewise not be used to invent an H.15 cell.
A worked walk along the official 10-year column
The official nominal 10-year row in the November 10 release moves 4.95, 4.90, 4.84, 4.86, then 4.88 percent across November 3, 4, 5, 6 and 9. A methodical reader can say, without unofficial color, that the official series declined from November 3 to November 5, then rose modestly into November 9, and that the November 9 close remained 7 basis points below the November 3 official close and 12 basis points below a 5.00 percent headline. The same reader should not say, from this table alone, that “the 10-year broke 5 percent after CPI.” The official October CPI was released on November 10, which is after the last official H.15 column in this release. Any official yield reaction on or after November 10 has to wait for a later official column, or has to be sourced as something other than H.15, such as the official 5.020 percent auction stop, clearly labeled as an auction stop.
The official 2-year and 5-year rows tell a related, not identical, official story. The 2-year moved from 4.61 percent on November 3 to 4.46 percent on November 5, then to 4.56 percent on November 9. The 5-year moved from 4.74 percent to 4.59 percent, then to 4.67 percent. Both official tenors ended the published window below their November 3 levels, as the 10-year did, and both stayed below 5 percent in these official columns. The official 30-year, already above 5 percent at 5.32 percent on November 3, ended at 5.26 percent on November 9. A curve commentary that uses these official closes can be written entirely in official numbers: on November 9, the 2s-10s official constant-maturity difference was 0.32 percentage point, and the 10s-30s official difference was 0.38 percentage point. Those differences are dated official-series arithmetic. They are not a forecast of Friday’s producer-price index, and they are not a reason to fill Thursday’s empty H.15 column.
Bill yields and constant-maturity yields should also be kept on their official rows. The official 3-month bill, on a secondary-market discount basis as the footnotes describe, was 4.06 percent on November 9, while the official 3-month constant maturity was 4.24 percent on the same day. Those official figures are not interchangeable, because one is a bill on a discount basis and the other is a constant-maturity interpolation. A summary that mixes them into a single “front-end rate of 4.1 percent” is no longer an official-row summary. The method is the same method already used for auction stops versus constant-maturity closes: name the official series, then name the official date, then stop.
Some official H.15 cells are marked “n.a.” The November 10 release shows several commercial-paper rows as not available on some dates, including the 3-month nonfinancial commercial-paper rate on four of the five official columns. An empty official cell is an official fact. Filling it from a private data vendor, or from the previous day’s official figure without saying so, produces a table that is no longer the H.15 table. This guide does not fill those “n.a.” cells, and it does not use commercial paper as a substitute for the official constant-maturity 10-year.
Effective federal funds, at 3.88 percent in every official column of this release, is likewise a named official series with its own official footnote: as of March 1, 2016, it is a volume-weighted median of transaction-level data collected on the FR 2420 report. It is not the same official object as a target range, a prime rate, or a discount-window primary-credit rate, even when those official rates are stable across the same five days. A methodical reader who wants to talk about “policy rates” should say which official rate is being cited. In this table, the official effective funds rate is 3.88 percent, the official primary credit rate is 4.00 percent, and the official prime rate is 7.00 percent, all unchanged across the published window.
A short official checklist for the next H.15
- Confirm the official release date and, separately, the last dated column in the table.
- Confirm whether the calendar day in question is an official Board posting day, or a weekend, holiday, or closure.
- Name the official row: effective federal funds, a bill rate, a nominal constant maturity, or an inflation-indexed constant maturity. Do not say “the 10-year” if the figure is a 30-year, an auction stop, or a TIPS yield.
- If using an auction result, keep it on the official results release and do not paste it into an H.15 column that does not yet exist.
- If subtracting a TIPS constant-maturity yield from a nominal constant-maturity yield, date both official inputs and describe the result as a difference of official series, not as a traded quote.
- Leave still-unreleased columns, still-unreleased auction stops, and still-unreleased inflation prints blank.
The December 8-9, 2026, Federal Open Market Committee meeting, which is officially associated with a Summary of Economic Projections on the Fed’s FOMC calendars page, is a later official event. Official H.15 yields will be part of the official rate backdrop into that meeting. They should not be treated as already including Friday’s still-unreleased October producer-price index or a 30-year stop that had not been published as an official result. A method that starts filling those cells early will have to be unwound as soon as the official documents disagree.
Those official unchanged policy-rate rows are a useful reminder that not every official interest-rate series moves on the same day, or even in the same week, as a coupon auction or an inflation print. The H.15 table is a collection of official series, not a single “rates” number, and this guide exists to keep the collection from collapsing.
The last official habit is therefore the simplest: when a later H.15 is posted, replace only the columns that the later official table actually contains, and leave every still-missing date, including any holiday, marked as unofficially unknown rather than unofficially guessed.
Frequently asked questions
What is the latest official H.15 10-year close used in this article?
4.88 percent on November 9, 2026, from the official release dated November 10, which does not yet show a November 10 column.
Did the official H.15 10-year close at 5 percent in this table?
No. In the official columns through November 9, the nominal 10-year constant maturity last printed at 4.88 percent. The official 30-year constant maturity was 5.26 percent on November 9.
Is the 5.020 percent 10-year auction stop an H.15 close?
No. It is the official high yield on the November 10 10-year note auction. The two official numbers should be cited separately.
Why is there no official November 11 H.15?
November 11, 2026, was Veterans Day and a Federal Reserve holiday. The official H.15 page says the release is not posted on holidays or when the Board is closed.
When is H.15 posted on a normal business day?
At 4:15 p.m., according to the official page, Monday through Friday, except holidays or Board closures.
Sources and research limits
The primary source is the official H.15 release dated November 10, 2026, including its footnotes and description of the constant-maturity series, retrieved at federalreserve.gov/releases/h15. Auction figures are from the official November 10 10-year results release. The official FOMC calendar is cited only for the dated December 8-9, 2026, meeting. This article does not invent H.15 closes for November 10, 11 or 12, does not invent a 30-year auction stop, and does not treat Friday’s producer-price index as released.
