A Constant Maturity Treasury (CMT) is a type of U.S. government bond that provides a yield based on the average interest rates of various Treasury securities with different maturities. The CMT is designed to reflect the yield of a specific maturity, such as 1-year, 5-year, or 10-year, regardless of the actual time remaining until maturity. This helps investors gauge the market's expectations for interest rates over time. CMT rates are published daily by the U.S. Department of the Treasury and are often used as benchmarks for other interest rates, including those for mortgages and corporate bonds. By providing a consistent measure of yield, CMTs assist investors in making informed decisions about their investments in relation to the broader economy and monetary policy.