A parallel shift in the yield curve is a shift in the yield curve - that is, a change in yields - in which all maturities change by the same number of basis points.

In other words, if the yield on the 3 month T-bill increases 100 basis points (or one percent), then the 6 month, 1 year, 5 year, 10 year, 20 year, and 30 year rates will all increase by 100 basis points as well.

Some academic studies has estimated that over 90% of all shifts of the yield curve are indeed parallel.

See also: Non-parallel shift in the yield curve

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