5-Year Yield Falls 9 bps to 3.99% (May 6, 2026)

Treasury rates moved lower across most maturities compared with one week ago. The 30-year Treasury yield fell to 4.94 percent from 4.98 percent, and the 10-year Treasury rate dropped to 4.36 percent from 4.42 percent. The 20-year eased to 4.92 percent from 4.97 percent, while the 5-year declined to 3.99 percent from 4.05 percent.

At the short end, the 2-year Treasury rate slipped to 3.87 percent from 3.92 percent. The 4-week Treasury bill rate ticked up to 3.70 percent and the 6-month rate rose to 3.74 percent, while the 1-year rate fell to 3.73 percent. Versus a month ago, the 2-year has climbed from 3.84 percent and the 5-year from 3.96 percent, while the 3-month rate has dropped from 3.73 percent to 3.69 percent. The 10-year sits at 4.36 percent, up from 4.33 percent, and the 30-year has advanced from 4.89 percent to 4.94 percent.

The Treasury yield curve remains inverted at the front end, with the 3-month yield above the 1-year and 2-year rates. A wide gap separates the 30-year at 4.94 percent from the 2-year at 3.87 percent. Compared with a month ago, the spread between the 2-year and 3-month has narrowed slightly, while the distance between the 2-year and 30-year has widened as longer rates climbed.