3-Month Treasury Bill
3-Month T-Bill Yield — Historical Chart
3.90%
▼ 9.72% YoYAug 2026
All-Time High
17.01%
All-Time Low
0.00%
Data Since
1981
Source: FRED / Federal ReserveShaded = NBER recessions
The yield on 3-month US Treasury bills — the shortest-duration risk-free rate and the closest proxy to the federal funds rate. Warren Buffett uses the 3M T-bill as his "hurdle rate" — the minimum return any investment must exceed to be worthwhile.