3-Year Yield Rises 6 bps to 4.31% (Jul 21, 2026)

Across the Treasury yield curve on 2026-07-21, rates rise steadily from the short end toward the long end, with the curve inverted at the front: the 4-week Treasury bill rate stands at 3.75 percent and the 6-week rate at 3.81 percent, while the 2-year Treasury rate at 4.26 percent sits well below the 10-year Treasury yield at 4.63 percent. Gaps between neighboring maturities are narrow in places, with the 2-month at 3.81 percent matching the 6-week, the 4-month at 3.96 percent, and the 3-month at 3.87 percent. At the long end, the 20-year Treasury yield of 5.14 percent sits just above the 30-year Treasury yield of 5.13 percent.

Individual rates moved higher nearly everywhere. The 30-year Treasury yield climbed to 5.13 percent from 5.08 percent one week ago, and the 20-year rose to 5.14 percent from 5.09 percent. The 10-year rate advanced to 4.63 percent from 4.58 percent, while the 7-year reached 4.50 percent from 4.44 percent. Mid-curve levels include the 5-year at 4.37 percent and the 3-year at 4.31 percent. Shorter maturities also firmed: the 1-year Treasury rate rose to 4.08 percent, the 6-month to 4.02 percent, and the 4-week bill from 3.73 percent to 3.75 percent.

Over the past month, the entire curve shifted higher. The 30-year moved from 5.01 percent to 5.13 percent, the 20-year from 5.02 percent to 5.14 percent, and the 10-year from 4.53 percent to 4.63 percent. Short-term rates rose more sharply, with the 1-year climbing from 3.90 percent to 4.08 percent, the 6-month from 3.82 percent to 4.02 percent, and the 3-month from 3.79 percent to 3.87 percent. The 2-year at 4.26 percent remains below the 10-year at 4.63 percent, keeping that inversion in place, though the gap has narrowed slightly as middle and longer maturities caught up over the week.