Let's have a closer look at yield curves, and let's begin by defining the term yield curve. A yield curve is essentially a graph that displays the yield, typically measured by yield to maturity of bonds that have the same credit quality, but different maturities. To ensure an accurate yield curve, it's important to use bonds from the same issuer and with the same credit rating. If bonds from different issuers or with varying credit qualities are mixed, the curve can become distorted and less reliable for analysis. Typically, government bonds, such as US treasuries are used because they provide a consistent level of credit risk across various maturities. When putting together a yield curve, professionals often focus on what are known as benchmark maturities. These are key maturities that represent different points along the yield curve. Common benchmark bonds include maturities of one year, five years, 10 years, and 30 years. Each of these maturities provides valuable insight into different segments of the bond market.