3-Year Yield Falls 7 bps to 4.25% (Aug 4, 2026)

Thirty days ago, on July 5, the 30-year Treasury yield stood at 4.94 percent and the 10-year Treasury rate at 4.50 percent, with the 2-year Treasury rate at 4.16 percent and the 4-week bill at 3.65 percent. Rates have risen across nearly every maturity since then. The 30-year Treasury yield has moved higher over the month to reach 5.18 percent, the 10-year Treasury rate climbed from 4.50 percent to 4.63 percent, the 2-year Treasury rate rose from 4.16 percent to 4.20 percent, and the 4-week bill increased from 3.65 percent to 3.78 percent. A year earlier, on August 4, 2025, the 10-year Treasury rate recorded 4.22 percent and the 30-year Treasury yield 4.80 percent, both well below current levels.

Over the past week, movement on the Treasury yield curve was mixed. The 30-year Treasury yield moved higher from 5.09 percent to 5.18 percent, one of the larger weekly moves on the curve. The 10-year Treasury rate edged up slightly to 4.63 percent from 4.61 percent, while the 2-year Treasury rate fell to 4.20 percent from 4.26 percent. Shorter maturities also slipped, with the 1-year at 4.04 percent versus 4.09 percent a week ago and the 6-week bill at 3.80 percent versus 3.86 percent. At the long end, the 20-year rose to 5.18 percent from 5.11 percent, and the 5-year edged down to 4.33 percent from 4.35 percent.

Tuesday, August 4, 2026, finds the 30-year Treasury yield at 5.18 percent, lower than Monday's 5.23 percent after a steady climb through late July. The Treasury yield curve is upward sloping today, with the 4-week bill at 3.78 percent and rates rising steadily through the 10-year at 4.63 percent. The 20-year and 30-year yields both sit at exactly 5.18 percent, leaving the longest end flat. One week ago the 30-year of 5.09 percent sat below the 20-year at 5.11 percent, and the same relationship held 30 days ago as well, when the 30-year stood at 4.94 percent against a 20-year rate of 4.96 percent. Today that gap has closed, with no inversions present anywhere on the curve.