The 10-year Treasury note is a loan you make to the U.S. government. It is one of the U.S. Treasury bills, notes and bonds, and it's the only one that matures in a decade. The 10-year Treasury note rate is the yield or rate of return, you get for investing in this note. The yield is important because it is the benchmark that guides other intereste rates. The major exception is adjustable rate mortgages, which follow the fed funds rate.
