3-Year Yield Rises 7 bps to 3.80% (Apr 21, 2026)

Over the past month, the 2-year Treasury rate posted the largest move anywhere on the curve, jumping to 3.78 percent from 3.57 percent 30 days ago. Longer maturities also climbed notably over that span, with the 5-year Treasury yield rising to 3.91 percent from 3.73 percent and the 10-year Treasury rate reaching 4.30 percent from 4.15 percent. The 30-year Treasury yield gained to 4.89 percent from one month ago.

On the day, the 10-year Treasury rate climbed to 4.30 percent from 4.26 percent, while the 20-year moved to 4.87 percent from 4.85 percent. The 30-year Treasury yield ended at 4.89 percent, higher than last Tuesday's 4.87 percent. The 2-year Treasury rate rose to 3.78 percent from 3.76 percent a week earlier, the 5-year advanced to 3.91 percent from 3.87 percent, and the 7-year moved to 4.09 percent from 4.06 percent. Front-end rates eased, with the 4-week Treasury bill rate falling to 3.67 percent and the 1-year Treasury rate dipping to 3.69 percent. The 6-month held at 3.73 percent, and the 3-month declined to 3.69 percent.

The Treasury yield curve has steepened, with long rates higher and short rates lower or flat. The gap between the 30-year and 3-month rates widened to 1.2 from 1.16 percent a week ago. The 2-year at 3.78 percent sits just above the 3-month at 3.69 percent. The spread between the 7-year and 30-year narrowed to 80 from 81 last Tuesday. The 6-week rate stands at 3.72 percent, and the 3-month rate is essentially unchanged over the month at 3.69 percent.