2-Month Bill Rate Rises 13 bps to 3.95% (Jul 23, 2026)

Compared with 30 days ago, Treasury rates across the curve stand substantially higher. The 30-year Treasury yield has climbed from 4.94 percent to 5.17 percent, while the 20-year Treasury rate rose from 4.96 percent to 5.20 percent. Shorter maturities moved even more: the 2-year Treasury rate advanced from 4.16 percent to 4.37 percent, the 1-year from 4.01 percent to 4.15 percent, and the 6-month from 3.96 percent to 4.09 percent. The 10-year Treasury yield gained from 4.50 percent to 4.71 percent over the month.

Against last week, every maturity on the Treasury yield curve sits higher as well. The 30-year rose from 5.09 percent, the 20-year from 5.09 percent, the 10-year from 4.57 percent, and the 2-year from 4.16 percent to 4.37 percent, the largest weekly move among maturities. The 1-year climbed from 3.99 percent to 4.15 percent, and the 4-week Treasury bill rate edged up from 3.76 percent to 3.82 percent. The gap between 2-year and 10-year yields narrowed to 34 basis points of inversion from 37 a week earlier, though that measure remains inverted.

On Thursday, the 30-year Treasury yield closed at 5.17 percent and the 20-year at 5.20 percent, placing the 20-year above the 30-year at the long end, a reversal from one month ago when the 30-year sat higher. The 10-year Treasury rate stood at 4.71 percent, the 3-month at 3.95 percent, and the 4-week Treasury bill rate at 3.82 percent. The shorter section of the curve stays inverted, with the 3-month rate above the 1-year at 4.15 percent, while the 2-year at 4.37 percent remains below the 10-year.