4-Week Bill Rate Rises 6 bps to 3.79% (Jul 30, 2026)

Gaps between neighboring maturities widen steadily from the short bills through the 10-year Treasury yield, then compress sharply at the long end of the Treasury yield curve. The 4-week Treasury bill rate stands at 3.79 percent against a 3-month rate of 3.82 percent, a slim spread, while the distance from the 2-year Treasury rate at 4.23 percent to the 10-year at 4.68 percent is far larger. Beyond that point the curve nearly levels off: the 20-year Treasury rate sits at 5.22 percent, just above the 30-year Treasury yield at 5.21 percent. Intermediate points include the 5-year at 4.38 percent and the 7-year at 4.52 percent.

Week over week, most maturities moved lower. The 3-month bill fell from 3.95 percent to 3.82 percent, the 1-year slipped from 4.15 percent to 4.04 percent, and the 2-year slid from 4.37 percent to 4.23 percent. Mid-range maturities also declined, with the 5-year dropping from 4.46 percent to 4.38 percent and the 7-year falling from 4.58 percent to 4.52 percent. The 10-year dipped from 4.71 percent to 4.68 percent. At the long end, the 20-year ended the week at 5.22 percent versus 5.20 percent, and the 30-year rose from 5.17 percent to 5.21 percent. The gap between the 2-year and 10-year narrowed considerably compared with last week, when the 2-year was higher than the 10-year.

Over the past month, yields moved higher across nearly the entire curve while steepening. The 20-year climbed from 4.93 percent to 5.22 percent and the 30-year from 4.91 percent to 5.21 percent, while the 10-year rose from 4.44 percent to 4.68 percent and the 7-year increased from 4.30 percent to 4.52 percent. The 2-year moved from 4.14 percent to 4.23 percent, and short-term rates from 4 weeks to 6 months also edged higher. A year earlier, the 30-year Treasury yield stood at 4.89 percent and the 2-year Treasury rate at 3.94 percent, leaving long maturities well above their levels of July 2025.