Treasury Yields Little Changed, 4-Month Bill Rate at 3.70% (Jan 28, 2026)

Longer-dated Treasury rates sit modestly lower than one week ago while several short maturities have edged higher. The 30-year Treasury yield stood at 4.87 percent on January 21 and now rests at 4.85 percent, and the 20-year Treasury rate slipped from 4.82 percent to 4.81 percent. The 10-year Treasury yield is unchanged over the span at 4.26 percent. On the short end, the 4-week Treasury bill rate has risen from 3.75 percent to 3.76 percent, the 6-week rate moved from 3.71 percent to 3.72 percent, and the 2-year Treasury rate declined from 3.60 percent to 3.56 percent.

Wednesday's session brought broad daily gains across the Treasury yield curve. The 4-month yield posted the largest jump, rising to 3.70 percent from 3.66 percent.. The 2-year rate climbed to 3.56 percent, the 3-year advanced to 3.66 percent, the 5-year reached 3.83 percent, and the 7-year settled at 4.05 percent. The 3-month bill ticked up to 3.68 percent, the 2-month rate rose to 3.71 percent, and the 6-month rate finished at 3.63 percent. The 1-year rate gained to 3.52 percent, while the 4-week bill slipped to 3.76 percent.

Over the past month the curve has shifted higher in the intermediate segment. The 5-year yield has climbed from 3.67 percent to 3.83 percent since December 29, and the 7-year rate rose from 3.88 percent to 4.05 percent, while the 10-year rate advanced from 4.12 percent to 4.26 percent. The 2-year rate is up from 3.45 percent to 3.56 percent and the 3-year from 3.51 percent to 3.66 percent. The 30-year Treasury yield moved from 4.80 percent to 4.85 percent over the same period. The gap between the 2-year and 10-year rates now stands at 70 hundredths, wider than the 66-hundredth spread of a week earlier, and the 2-year/5-year spread remains inverted at negative 27 hundredths.