Treasury Yields Little Changed, 2-Year Yield at 4.16% (Jul 16, 2026)

Middle maturities of the Treasury yield curve finished Thursday mostly higher. The 2-year Treasury rate held at 4.16 percent, unchanged from a week earlier, while the 3-year Treasury yield ticked up to 4.20 percent from 4.18 percent. Further out the curve, the 5-year Treasury rate rose to 4.28 percent from 4.27 percent, and the 7-year Treasury yield climbed to 4.41 percent from 4.40 percent. Measured against 30 days ago, the 5-year has advanced from 4.16 percent, the 7-year from 4.28 percent, and the 2-year from 4.05 percent.

Wings of the curve also shifted higher. At 4.57 percent, the 10-year Treasury yield came in above last week's 4.54 percent and up from 4.43 percent a month ago. The 30-year Treasury rate stood at 5.09 percent, higher than the 5.05 percent recorded last Thursday and the 4.93 percent level 30 days prior. Matching the 30-year at exactly 5.09 percent, the 20-year Treasury yield gained from 5.06 percent one week ago and 4.92 percent a month ago. At the front end, the 4-week Treasury bill rate rose to 3.76 percent from 3.72 percent, the 6-month slipped to 3.94 percent from 3.96 percent, and the 1-year came in at 3.99 percent, below last week's 4.02 percent.

Inversion persists between the 1-year at 3.99 percent and the 2-year at 4.16 percent, a wider gap than the 3.84 percent and 4.05 percent levels a month ago. Shorter bills also moved: the 2-month rate sits at 3.81 percent versus 3.79 percent a week ago, and the 3-month at 3.84 percent compared with 3.83 percent. One year ago the 2-year stood at 3.88 percent and the 30-year at 5.01 percent, so the 2-year Treasury rate is now higher while the long end has risen less. All rates of one year and shorter remain below the 4.16 percent on the 2-year, keeping that segment of the Treasury yield curve inverted.