20-Year Yield Rises 8 bps to 4.87% (Jan 20, 2026)

Short-term Treasury bills saw the least movement on Tuesday. The 4-week Treasury bill rate held at 3.75 percent, unchanged from the prior session and only higher by a small margin from 3.72 percent one week earlier. Nearby maturities were similarly steady: the 6-week rate stood at 3.71 percent, the 2-month rate at 3.69 percent, the 3-month rate at 3.70 percent, and the 4-month rate at 3.65 percent. The 6-month rate was 3.61 percent and the 1-year rate 3.53 percent, leaving the front end little changed across the Treasury yield curve.

The notable exceptions came at longer maturities. The 30-year Treasury yield rose to 4.91 percent from 4.83 percent a week ago, its highest level since late last year, and higher than the 4.82 percent recorded 30 days ago. The 10-year Treasury rate climbed to 4.30 percent from 4.18 percent last Tuesday, though it matched its level of one month ago. The 5-year Treasury yield moved to 3.86 percent from 3.75 percent a week ago and 3.78 percent a month ago. The 7-year Treasury rate reached 4.08 percent, up from 3.95 percent last week, while the 20-year Treasury yield advanced to 4.87 percent from 4.79 percent. The 2-year Treasury rate was 3.60 percent, slightly higher than 3.53 percent a week ago but lower than 3.61 percent a month ago.

Compared with a year earlier, when the 30-year Treasury yield stood at 4.84 percent and the 10-year Treasury rate at 4.61 percent, long maturities remain higher while short rates sit well below year-ago levels such as the 4.43 percent 4-week bill rate. The short end from 4 weeks through 1 year remains inverted, with yields declining as maturity lengthens, while the middle and back portions of the curve carry a more pronounced upward tilt than either a week or a month ago.