2-Year Yield Falls 10 bps to 3.47% (Feb 5, 2026)

Down by the widest margin on the Treasury yield curve, the 2-year Treasury rate fell to 3.47 percent on 2026-02-05 from 3.57 percent the prior session. The 3-year Treasury rate followed, declining to 3.55 percent from 3.64 percent, and the 5-year Treasury yield dropped to 3.74 percent from 3.83 percent. Longer maturities also eased: the 30-year Treasury rate moved to 4.85 percent from 4.91 percent, while the 10-year Treasury yield finished at 4.21 percent after standing at 4.29 percent a day earlier.

Elsewhere on the curve, the 1-year rate came in at 3.44 percent versus 3.49 percent previously, the 7-year Treasury yield slipped to 3.97 percent from 4.05 percent, and the 20-year Treasury rate settled at 4.79 percent after 4.86 percent. Short-term bills were steadier. The 4-week Treasury bill rate held at 3.72 percent, the 6-week rate eased to 3.71 percent from 3.72 percent, and the 6-month bill declined to 3.58 percent from 3.62 percent. The 3-month rate stood at 3.67 percent and the 4-month at 3.68 percent.

Measured against one week ago, the 1-year rate has fallen from 3.50 percent to 3.44 percent and the 2-year Treasury rate dropped from 3.53 percent to 3.47 percent. The 30-year Treasury rate matched its level from last Thursday at 4.85 percent, showing no weekly change, while the 20-year Treasury rate sat at 4.79 percent versus 4.80 percent. Over the past month, declines have been broad: the 1-year rate has retreated from 3.87 percent to 3.44 percent, the 3-year from approximately 3.76 percent to 3.55 percent, the 10-year from approximately 4.43 percent to 4.21 percent, and the 30-year from about 5.07 percent to 4.85 percent. The Treasury yield curve now shows a relatively flat shape between the 3-year and 5-year maturities before climbing more steeply from the 7-year through the 30-year, with the short end having shifted down more than the long end.