Treasury Yields Little Changed, 2-Year Yield at 3.51% (Mar 3, 2026)

At 3.51 percent, the 2-year Treasury rate led a front-to-back progression on Tuesday that carried the Treasury yield curve from 3.75 percent on the 4-week Treasury bill rate up to 4.70 percent on the 30-year Treasury yield. The 2-year rate rose from 3.47 percent one week ago, while the 3-year Treasury rate stood at 3.50 percent and the 5-year Treasury yield at 3.63 percent. Farther out, the 7-year reached 3.83 percent, the 10-year Treasury rate 4.06 percent, and the 20-year 4.65 percent, that last figure up from 4.63 percent last Tuesday. The 30-year held steady at 4.70 percent, matching both the prior session and one week earlier.

Compared with a week ago, middle and longer maturities moved higher in small increments: the 10-year climbed from 4.04 percent, the 7-year from 3.81 percent, and the 5-year from 3.61 percent. Shorter maturities also advanced, with the 1-year at 3.55 percent and the 6-month at 3.68 percent, each above their prior-week levels of 3.52 percent and 3.62 percent.

Over the past 30 days the curve has shifted considerably, as long-term rates fell far more than short-term ones. From late January levels, the 30-year has dropped from near 4.91 percent, the 20-year from 4.82 percent, and the 10-year from 4.26 percent, while the 2-year is down only slightly from 3.52 percent and the 6-month actually higher than 3.61 percent. Inversion between the 2-year and 5-year sections narrowed to 12 hundredths from 18 hundredths last week. The front end between the 4-week and 1-year now shows a normal upward slope after being inverted a week earlier.