4-Week Bill Rate Rises 7 bps to 3.72% (May 21, 2026)

Short-term Treasury rates were mixed on Thursday. The 3-month Treasury bill rate slipped to 3.68 percent from 3.69 percent one week earlier, while the 6-month rate stood at 3.78 percent versus 3.76 percent a week ago. The 1-year Treasury rate rose to 3.83 percent from 3.79 percent, and the 4-week Treasury bill rate held at 3.72 percent, unchanged from last Thursday. Against the levels of one year ago, the front end sits lower, with the 4-week bill at 4.35 percent in May 2025 and the 6-month at 4.33 percent.

Longer maturities moved higher over the week. The 30-year Treasury yield closed Thursday at 5.10 percent, up from 5.02 percent one week ago and down slightly from 5.11 percent on Wednesday. The 10-year Treasury rate reached 4.57 percent compared with 4.47 percent last Thursday, and the 20-year Treasury yield advanced to 5.09 percent from 5.01 percent. The 5-year climbed to 4.25 percent from 4.13 percent, the 3-year rose to 4.13 percent from 4.04 percent, and the 2-year Treasury rate settled at 4.08 percent versus 4.00 percent.

Measured over the past month, medium-term maturities recorded the largest increases. The 3-year rate climbed from 3.77 percent in late April, the 5-year rose from 3.91 percent, and the 2-year increased from 3.78 percent, while the 30-year Treasury yield advanced from 4.89 percent and the 10-year Treasury rate from 4.30 percent. Front-end moves were smaller, with the 6-month at 3.78 percent versus 3.73 percent a month ago and the 3-month holding at 3.68 percent. The Treasury yield curve has steepened over that span, with the gap between the 30-year and the 3-month widening from 122 basis points a month ago to 142 basis points, and the spread between the 10-year and 2-year Treasury rates standing at 49 basis points after 47 basis points one week ago.