3-Year Yield Rises 6 bps to 4.46% (Sep 1, 2026)

A steadily upward-sloping Treasury yield curve defined Tuesday's session, with every maturity yielding at least as much as the one before it and no inversions anywhere along the curve. Gaps between neighboring maturities were modest at the front end, where the 4-week bill at 3.85 percent sat just 15 hundredths below the 6-month bill at 4.00 percent, and widened through the middle of the curve, with the 2-year Treasury rate at 4.39 percent trailing the 10-year Treasury rate at 4.79 percent by 40 hundredths. At the long end, the 20-year and 30-year rates converged exactly, each standing at 5.27 percent.

Individual maturities showed broad gains compared with last week. The 4-week Treasury bill rate climbed to 3.85 percent from 3.79 percent, while the 6-month bill slipped 2 hundredths to 4.00 percent and the 4-month rate held essentially unchanged at 3.97 percent. The 2-year Treasury rate rose to 4.39 percent from 4.17 percent, the 5-year advanced to 4.55 percent from 4.35 percent, and the 7-year moved to 4.66 percent from 4.48 percent. The 10-year Treasury rate reached 4.79 percent from 4.64 percent, the 20-year rate climbed to 5.27 percent from 5.16 percent, and the 30-year Treasury yield finished at 5.27 percent, higher than both its 5.25 percent level yesterday and its 5.17 percent mark one week ago.

Measured over 30 days, longer maturities posted the largest gains. The 10-year Treasury rate is up from 4.63 percent on July 21, the 30-year Treasury yield is above its 5.13 percent level at that time, and the 5-year rate has risen from 4.37 percent. Front-end moves were smaller, with the 6-month bill at 4.00 percent and the 4-month rate at 3.97 percent. Thirty days ago the 20-year rate of 5.14 percent sat slightly above the 30-year rate of 5.13 percent, a mild long-end inversion that is no longer present today.