Gregor Aisch And Amanda Cox, writing for The New York Times back in March:
The yield curve shows how much it costs the federal government to borrow money for a given amount of time, revealing the relationship between long- and short-term interest rates.
It is, inherently, a forecast for what the economy holds in the future — how much inflation there will be, for example, and how healthy growth will be over the years ahead — all embodied in the price of money today, tomorrow and many years from now.
This is a really fascinating way to visualize interest rates – one which I don’t recall seeing before despite spending the majority of my time at work dealing with this stuff. It would be even more interesting if the data went back another decade – when interest rates were at record highs – to really put today’s low rates in perspective.