Treasury Yield Curve Analysis — September 8, 2026

The 30-year Treasury rate sits at 5.25 percent, ticking lower compared to last week when it stood at 5.27 percent. This marks a modest decline in long-term borrowing costs over the past seven days. The rate remains elevated in historical terms, continuing to hover above the 5 percent threshold that has characterized long-dated yields in recent months.

Looking across the full spectrum of maturities, most rates held steady or showed minor shifts compared to last Tuesday. The 2-year rate remained unchanged at 4.39 percent, while the 10-year inched higher to 4.80 percent from 4.79 percent. Shorter-term bills showed mixed movement, with the 4-week rate falling to 3.81 percent from 3.85 percent, while the 3-month rate rose to 3.94 percent from 3.92 percent. The 5-year and 7-year maturities moved slightly higher, reaching 4.57 percent and 4.68 percent respectively.

Against the backdrop of one month ago, the curve has shifted noticeably higher at most maturities. The 10-year rate has climbed to 4.80 percent from 4.61 percent, representing one of the more significant moves over the past month. Medium-term yields have also moved up considerably, with the 5-year at 4.57 percent versus 4.35 percent and the 7-year at 4.68 percent versus 4.47 percent. The 2-year has risen to 4.39 percent from 4.26 percent over the same period. The shorter end of the curve shows more modest gains, with the 1-year moving to 4.15 percent from 4.09 percent.

The yield curve continues to maintain its upward slope, with rates increasing as maturity lengthens. The spread between the 2-year and 10-year has widened modestly, standing at about 0.41 percentage points. Compared to last week, the curve has flattened slightly in the long end, as the 30-year declined while the 10-year rose. Looking back 30 days, the entire curve has shifted higher, with the most pronounced increases occurring in the 5-year through 20-year range, pushing rates up by roughly 0.20 to 0.22 percentage points across that segment.