2-Year Yield Rises 5 bps to 4.00% (May 12, 2026)

Short-term Treasury rates were largely steady to start the week's trading. The 4-week Treasury bill rate held at 3.71 percent, unchanged from Monday, while the 6-week bill rate moved up to 3.72 percent from 3.70 percent. The 2-month rate stood at 3.69 percent and the 3-month rate at 3.70 percent, both little changed. The 4-month and 6-month rates each sat at 3.77 percent, and the 1-year rate ticked up to 3.80 percent from 3.79 percent.

Longer maturities moved higher. The 2-year Treasury rate rose to 4.00 percent from 3.95 percent a day earlier, and the 3-year rate reached 4.01 percent from 3.96 percent. The 5-year rate climbed to 4.12 percent and the 7-year rate to 4.29 percent, each up from 4.07 percent and 4.24 percent respectively. The 10-year Treasury yield advanced to 4.46 percent from 4.42 percent. At the long end, the 20-year rate reached 5.02 percent from 4.97 percent, and the 30-year Treasury yield climbed to 5.03 percent from 4.98 percent.

Compared with one week ago, the 30-year Treasury yield is higher by 5 basis points and the 10-year Treasury rate by 3 basis points. Over the past month, the 2-year Treasury rate has risen from 3.81 percent, the 10-year from 4.31 percent, and the 30-year from 4.91 percent. The shortest bills have eased over that span, with the 4-week bill rate down from 3.67 percent and the 6-week from 3.69 percent. The gap between the 2-year and 10-year narrowed to 46 basis points from 50 basis points last week and 51 basis points a month ago. The Treasury yield curve remains upward sloping, with the 20-year rate of 5.02 percent sitting just below the 30-year at 5.03 percent.