Treasury Yields Little Changed, 10-Year Yield at 4.38% (May 8, 2026)

Front-end maturities were the steadiest part of the Treasury yield curve in Friday trading. The 6-week Treasury bill rate held at 3.70 percent, the 3-month Treasury bill rate stayed at 3.69 percent, the 6-month rate was unchanged at 3.74 percent, and the 4-month rate remained at 3.75 percent. A 2-month rate slipped to 3.68 percent from 3.69 percent the prior day, and the 4-week Treasury bill rate eased from 3.72 percent to 3.71 percent, matching its level of one week ago.

Away from that calm, the middle and long end of the curve supplied the notable exceptions. The 30-year Treasury yield finished Friday at 4.95 percent, lower than last week's 4.97 percent and its lowest reading in more than a month. A 20-year Treasury yield declined to 4.93 percent from 4.96 percent, moving below 5.00 percent for the first time in five weeks. The 7-year Treasury rate fell to 4.19 percent from 4.22 percent, while the 10-year Treasury rate slipped to 4.38 percent from 4.41 percent. Lower as well, the 2-year Treasury rate moved to 3.90 percent from 3.92 percent, the 3-year rate eased to 3.92 percent from 3.94 percent, and the 5-year rate settled at 4.02 percent after standing at 4.04 percent on Thursday.

Measured against a year earlier, the picture varies across maturities. A 1-year rate now stands at 3.75 percent versus 4.05 percent in May 2025, and the 4-week bill sits at 3.71 percent against 4.37 percent then. Longer maturities are higher than a year ago, with the 20-year at 4.93 percent versus 4.86 percent and the 30-year Treasury yield at 4.95 percent versus 4.83 percent.