6-Month Bill Rate Rises 6 bps to 4.00% (Jun 29, 2026)

The 7-year Treasury yield posted the largest single change on the curve, falling from 4.39 percent a week ago to 4.24 percent as of Monday. The 5-year Treasury rate matched that decline, moving from 4.29 percent to 4.14 percent, while the 3-year Treasury yield dropped from 4.25 percent to 4.10 percent. The 2-year Treasury rate fell from 4.24 percent to 4.10 percent over the same span, a fourteen basis-point... rather, a move of fourteen points lower that leaves it at the same level as the 3-year.

Longer maturities also retreated. The 30-year Treasury rate stood at 4.86 percent Monday, lower than Friday's 4.87 percent and down from 4.95 percent a week ago. The 20-year Treasury yield matched that level at 4.86 percent, slipping from 4.87 percent and well below last week's 4.97 percent. The 10-year Treasury rate settled at 4.38 percent, unchanged from Friday and down from 4.51 percent seven days earlier. At the short end, the 4-week Treasury bill rate rose to 3.71 percent from 3.66 percent a week ago, the 3-month rate climbed to 3.87 percent from 3.85 percent, the 6-month rate reached 4.00 percent, and the 1-year rate slipped to 3.97 percent from 4.04 percent.

Compared with one month ago, the 30-year Treasury yield has fallen from 5.14 percent on May 18, a drop of twenty-eight points, and the 20-year has declined by the same amount from 5.14 percent. The 10-year is down twenty-three points, the 7-year nineteen, and the 5-year thirteen. Short rates moved the other way: the 6-month rate rose twenty-three points, the 3-month nineteen, and the 1-year sixteen, while the 2-year edged up three. That divergence compressed the gap between the 30-year and 3-month rates from 146 points a month ago to 99 points. The 2-year rate at 4.10 percent now exceeds the 3-month rate at 3.87 percent, and the 6-month rate at 4.00 percent sits above the 1-year rate at 3.97 percent, marking inversions in both segments of the Treasury yield curve.