Source: Federal Reserve, TD Securities
ACM 10yr Term Premium
2010
2012
2014
2016
2018
2020
2022
Percentage
3.0
2.0
1.0
0
-1.0
-2.0
COVID Vaccine
COVID QE
Trump Election
Taper Tantrum
QE3
QE2
QE1
10yr Term Premium Has Already Risen Significantly from Historical Lows