3-Month Treasury Bill Secondary Market Rate, Discount Basis (TB3MS)
3-Month Treasury Bill Secondary Market Rate, Discount Basis — Historical Chart
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Sign Up FreeUnderstanding 3-Month Treasury Bill Secondary Market Rate, Discount Basis
3-Month Treasury Bill Secondary Market Rate, Discount Basis (FRED series TB3MS) is a monthly economic indicator measured in percent. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 1934.
Why it matters: 3-Month Treasury Bill Secondary Market Rate, Discount Basis is one of the indicators traders, economists, and policymakers watch within the economic complex. Analysts use it to track conditions in the US economy and to anticipate shifts in growth, inflation, and policy.
How to read it: focus on the direction and persistence of changes rather than any single monthly print. Comparing the latest value against its level a year ago, and against its long-run range since 1934, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
data source (https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/h15/%). For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).</p>
Recent Data
| Date | Value (%) | Change |
|---|---|---|
| May 1, 2026 | 3.60% | -0.01 |
| April 1, 2026 | 3.61% | +0 |
| March 1, 2026 | 3.61% | +0.01 |
| February 1, 2026 | 3.60% | +0.03 |
| January 1, 2026 | 3.57% | -0.02 |
| December 1, 2025 | 3.59% | -0.19 |
| November 1, 2025 | 3.78% | -0.04 |
| October 1, 2025 | 3.82% | -0.1 |
| September 1, 2025 | 3.92% | -0.2 |
| August 1, 2025 | 4.12% | -0.13 |
| July 1, 2025 | 4.25% | +0.02 |
| June 1, 2025 | 4.23% | -0.02 |
Frequently Asked Questions
What is 3-Month Treasury Bill Secondary Market Rate, Discount Basis today?
The latest value of 3-Month Treasury Bill Secondary Market Rate, Discount Basis (TB3MS) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is 3-Month Treasury Bill Secondary Market Rate, Discount Basis updated?
3-Month Treasury Bill Secondary Market Rate, Discount Basis is reported monthly (Monthly). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising 3-Month Treasury Bill Secondary Market Rate, Discount Basis mean?
A sustained rise in 3-Month Treasury Bill Secondary Market Rate, Discount Basis signals strengthening readings in this economic measure, in percent. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the TB3MS data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID TB3MS. History is available back to 1934.
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Data sourced from FRED®, Federal Reserve Bank of St. Louis: 3-Month Treasury Bill Secondary Market Rate, Discount Basis (TB3MS). Retrieved from fred.stlouisfed.org. Last updated June 1, 2026.