Treasury Yields Little Changed, 4-Week Bill Rate at 3.70% (Jun 25, 2026)

Stability dominated the short end of the Treasury yield curve on Thursday. The 6-week Treasury bill rate held at 3.71 percent, the 4-month rate stayed at 3.90 percent, and the 6-month rate remained 3.95 percent, all unchanged from the prior session. The 20-year Treasury yield was likewise fixed at 4.87 percent, identical to its level from Wednesday and one week earlier. The 2-month rate slipped only slightly, to 3.75 percent from 3.76 percent.

Notable exceptions appeared elsewhere. The 30-year Treasury yield declined to 4.86 percent from 4.90 percent a week ago, its fourth consecutive daily drop and the lowest reading for that maturity since late April. The 10-year Treasury rate fell to 4.40 percent from 4.46 percent, while the 5-year rate eased to 4.15 percent from 4.23 percent. The 2-year Treasury note decreased to 4.09 percent from 4.19 percent. The 3-month Treasury bill rate ticked up to 3.84 percent from 3.83 percent, and the 1-year rate moved lower to 3.96 percent from 4.00 percent.

Measured over a month, the curve has reshaped considerably. The 30-year Treasury yield has fallen from 5.03 percent on May 26, and the 20-year rate has dropped from 5.03 percent as well. Short maturities have moved the other way: the 3-month bill rate rose from 3.68 percent to 3.84 percent, and the 1-year rate climbed from 3.82 percent to 3.96 percent. The 30-year yield now sits marginally below the 20-year yield, a rare inversion at the long end, while the 3-month rate of 3.84 percent remains below the 1-year rate of 3.96 percent. One year ago, the 30-year Treasury yield stood at 4.83 percent.