A Market Benchmark is a comparative average used when comparing the performance or volatility of a specific security. The benchmark used will vary depending on the instrument you're comparing. We are providing benchmarks for the overall bond market, US Treasury, Municipal, Agency and Corporate market. The benchmark shows you how all instruments included in the index fared on average. You can then use that as a comparison to a security you are considering. The major difference between benchmarks and yield curves is specificity. Yield curves look at a more focused segment of a market than benchmarks. For example a Municipal benchmark would look at the entire Municipal Market. Municipal Yield curves would look at specific credit ratings or even types of Municipal bonds.