Treasury Yields Little Changed, 20-Year Yield at 4.76% (Jan 7, 2026)

At the short end of the Treasury yield curve, the 4-week Treasury bill rate slipped to 3.70 percent from 3.74 percent a week ago, while the 3-month Treasury bill rate stands at 3.62 percent. The 6-week bill sits at 3.69 percent, the 2-month at 3.60 percent, the 4-month at 3.60 percent, and the 6-month at 3.56 percent. The 1-year Treasury rate held at 3.48 percent, unchanged from both the prior day and a week earlier, and the 2-year Treasury rate also held steady at 3.47 percent. Bills and very short maturities have come down meaningfully since late November, with the 4-week rate dropping from 4.06 percent and the 3-month rate down from 3.92 percent a month ago.

Longer maturities were modestly lower on Wednesday. The 10-year Treasury yield fell to 4.15 percent from 4.18 percent a week ago, and the 5-year Treasury rate declined to 3.70 percent from 3.73 percent. The 3-year stands at 3.53 percent and the 7-year at 3.91 percent. The 20-year Treasury yield closed at 4.76 percent, down from 4.80 percent the previous day, and the 30-year Treasury yield finished at 4.82 percent, lower than 4.84 percent a week ago and 4.86 percent on Tuesday.

Over the past month the curve has steepened as longer-term rates climbed while short-term rates declined. The 30-year has risen from 4.64 percent, the 10-year from 4.00 percent, and the 20-year from 4.60 percent to its current 4.76 percent. The 2-year has barely moved, ticking up from 3.45 percent. The 4-week through 6-month segments sit below the 1-year maturity, creating a brief inversion in that part of the curve. Beyond one year, yields increase steadily with maturity, with the 30-year at 4.82 percent above the 10-year at 4.15 percent.