Economy today
10-year Treasury yield today
The 10-year Treasury yield was 5.00% on October 26, 2026. The 2-year yield was 4.68%, so the yield curve between them is upward sloping, not inverted (10-year minus 2-year: +0.32 percentage points).
Source: US Department of the Treasury, Daily Treasury Par Yield Curve Rates. Latest figure: October 26, 2026. Updated automatically twice a day.
The Treasury yield curve on October 26, 2026
| Maturity | Yield |
|---|---|
| 3-month | 4.22% |
| 1-year | 4.47% |
| 2-year | 4.68% |
| 5-year | 4.84% |
| 10-year | 5.00% |
| 30-year | 5.31% |
10-year minus 2-year: +0.32 percentage points. 10-year minus 3-month: +0.78 percentage points. A negative spread means the curve is inverted between those two maturities.
What a Treasury yield is
When the US government borrows, it sells Treasury securities. The yield is the annual return an investor earns by buying one at today's price and holding it to maturity. Because the payments are fixed, the yield moves opposite to the price: when investors bid prices up, yields fall, and when they sell, yields rise.
Reading the yield curve
The yield curve plots yields from the shortest maturities to the longest. It usually slopes upward, because lending for longer carries more risk. Short-term yields follow the Federal Reserve's policy rate closely, while long-term yields also reflect what investors expect for growth and inflation, which is why the gap between them is watched as a signal about the economy.
Questions
What is the 10-year Treasury yield today?
5.00% on October 26, 2026, according to the US Treasury's daily par yield curve. The 2-year yield was 4.68% and the 30-year was 5.31%.
Why do bond yields go up when bond prices go down?
A bond pays fixed interest. If its price falls, a buyer pays less for the same payments, so the return on the money spent, the yield, rises. Prices and yields always move in opposite directions.
What is an inverted yield curve?
Normally longer loans pay higher yields than shorter ones. The curve is inverted when short-term yields rise above long-term yields, for example when the 2-year yield is above the 10-year. Investors watch inversions closely because they have often come before recessions.
Why does the 10-year Treasury yield matter?
It is a benchmark for long-term borrowing. Mortgage rates and many corporate borrowing costs tend to move with it, so a higher 10-year yield usually means more expensive long-term loans.