Treasury Yields Little Changed, 20-Year Yield at 4.79% (Jan 27, 2026)

A positively sloped Treasury yield curve stretches from the short bills out to the 30-year Treasury yield at 4.83 percent, with neighboring maturities spaced unevenly across the term structure. The 4-week Treasury bill rate stands at 3.77 percent, and the 1-year rate sits at 3.50 percent, so the front end holds in a narrow band. From the 2-year Treasury rate at 3.53 percent through the 10-year Treasury yield at 4.24 percent, the belly climbs steadily, and the 20-year at 4.79 percent sits just below the long bond.

Individual maturities moved lower over the past week. The 30-year Treasury yield fell from 4.91 percent a week ago and stands higher than the prior day's 4.80 percent. The 10-year Treasury yield dropped to 4.24 percent from 4.30 percent, the 5-year fell to 3.81 percent from 3.86 percent, and the 2-year Treasury rate declined to 3.53 percent from 3.60 percent. The 4-week bill rate rose to 3.77 percent from 3.75 percent, while the 6-week bill stands at 3.72 percent.

Compared with 30 days ago, medium-term maturities show the largest increases. The 3-year yield climbed to 3.65 percent from 3.52 percent, the 5-year rose from 3.69 percent, the 7-year advanced to 4.03 percent from 3.90 percent, and the 10-year moved up from 4.15 percent. The 30-year Treasury yield, by contrast, sits at 4.83 percent versus 4.81 percent a month ago. A year earlier, the 10-year Treasury rate stood at 4.53 percent and the 30-year at 4.76 percent, so the long bond now yields more while shorter maturities yield less.