Treasury
3-MO 3.89% unch 6-MO 3.98% -2bp 1-YR 4.03% -1bp 2-YR 4.18% -2bp 3-YR 4.24% -1bp 5-YR 4.33% unch 7-YR 4.47% unch 10-YR 4.63% unch 20-YR 5.18% unch 30-YR 5.17% -1bp 3-MO 3.89% unch 6-MO 3.98% -2bp 1-YR 4.03% -1bp 2-YR 4.18% -2bp 3-YR 4.24% -1bp 5-YR 4.33% unch 7-YR 4.47% unch 10-YR 4.63% unch 20-YR 5.18% unch 30-YR 5.17% -1bp 3-MO 3.89% unch 6-MO 3.98% -2bp 1-YR 4.03% -1bp 2-YR 4.18% -2bp 3-YR 4.24% -1bp 5-YR 4.33% unch 7-YR 4.47% unch 10-YR 4.63% unch 20-YR 5.18% unch 30-YR 5.17% -1bp 3-MO 3.89% unch 6-MO 3.98% -2bp 1-YR 4.03% -1bp 2-YR 4.18% -2bp 3-YR 4.24% -1bp 5-YR 4.33% unch 7-YR 4.47% unch 10-YR 4.63% unch 20-YR 5.18% unch 30-YR 5.17% -1bp 3-MO 3.89% unch 6-MO 3.98% -2bp 1-YR 4.03% -1bp 2-YR 4.18% -2bp 3-YR 4.24% -1bp 5-YR 4.33% unch 7-YR 4.47% unch 10-YR 4.63% unch 20-YR 5.18% unch 30-YR 5.17% -1bp 3-MO 3.89% unch 6-MO 3.98% -2bp 1-YR 4.03% -1bp 2-YR 4.18% -2bp 3-YR 4.24% -1bp 5-YR 4.33% unch 7-YR 4.47% unch 10-YR 4.63% unch 20-YR 5.18% unch 30-YR 5.17% -1bp
US Treasury par yield curve · Aug 5 · Source: U.S. Treasury
Thursday, August 6, 2026
U.S. Edition
Seasonal forecast

NOAA cut every number in its hurricane season outlook this morning and still called the forecast unchanged, and both of those statements are true

Open grey blue ocean seen from sea level under a broken deck of white cumulus cloud, with an empty horizon and no land in sight.
Photo: Richard REVEL / Pexels

NOAA lowered its hurricane numbers this morning and published a press release announcing that nothing had changed.

Both things are true, and the gap between them is the story.

The Climate Prediction Center issued its August update to the 2026 Atlantic hurricane season outlook on Thursday. It calls for 7 to 13 named storms, of which 2 to 6 become hurricanes, and of those 0 to 2 reach major hurricane strength, meaning Category 3 or above. Each range carries a 70 percent probability. All of them include the two tropical storms already recorded.

In May the same office called for 8 to 14 named storms, 3 to 6 hurricanes and 1 to 3 major hurricanes.

Every bound in the August update is at or below the May figure. Three of them moved down.

What the agency changed, and what it kept

The verdict did not move at all. NOAA still puts a below normal season as the most likely outcome, at 75 percent, with a 20 percent chance of a near normal season and a nominal 5 percent chance of an above normal one. Those are the same three categories the agency has been carrying since May, and the season is still expected to land in the lowest of them.

That is what the press release means when its headline says NOAA maintains its prediction. The category is unchanged. The technical document is equally direct about the other half of it, stating in its own sentence that the new ranges are slightly lower than those in the May outlook.

The most consequential single digit is the one at the bottom of the major hurricane range. In May the floor was 1. Today it is 0.

An agency range with a zero in it is a formal acknowledgement of a season in which no Atlantic storm becomes a Category 3. The Accumulated Cyclone Energy forecast moved the same way, from 45 to 115 percent of the median in May to 30 to 90 percent now. That measure squares wind speed at six hour intervals and sums it across the season, so it captures duration and intensity together rather than counting storms, and its whole range now sits at or below the cutoff between a below normal and a near normal season.

Against the 1991 to 2020 averages of 14 named storms, 7 hurricanes and 3 major hurricanes, the picture is a season running well short on all three.

The reason is one thing, and it keeps getting stronger

El Nino.

The relative sea surface temperature index for the Nino 3.4 region currently reads plus 1.4 degrees Celsius, and it has been warming steadily since January. NOAA puts the chance of a strong or very strong event during August to October at 90 percent, and the chance of a very strong one at 48 percent. Its July diagnostic discussion put the chance that El Nino conditions simply continue through the peak of the season at 100 percent. Some individual model runs point at a record event.

The mechanism is wind shear. El Nino in the Pacific drives upper level westerly winds across the Caribbean and the tropical Atlantic, and shear of that kind pulls a developing storm apart before it can organise.

The agency is unusually firm about the historical record here. Every strong El Nino season since 1950 has produced below normal Atlantic activity, including 1997 and 2015.

"When El Nino emerges, it usually becomes the dominant factor in total hurricane season activity, and this El Nino continues to get stronger every month," said Matt Rosencrans, the lead hurricane season forecaster at the National Weather Service.

The conditions that would normally argue the other way are still present and are being overridden. Atlantic sea surface temperatures remain warm, which is the ocean half of the high activity era the basin has been in since 1995. NOAA expects El Nino to cancel out most of the atmospheric half of it. The West African monsoon is rated neutral, with its rainfall displaced northward and inland, a configuration the document describes as not optimal for storms to form.

How rare a quiet season would actually be

Rare enough to be worth stating plainly.

If 2026 finishes below normal it will be only the second season in the past decade without above normal activity. The last below normal season was 2015. The one near normal season in between was 2022.

Across the high activity era that began in 1995, 22 of 31 seasons, or 71 percent, have been above normal. Five were near normal. Four, or 13 percent, were below normal.

So the outlook is not describing an ordinary year. It is describing the exception.

Two named storms, no hurricanes, and nothing out there now

The season has produced Arthur and Bertha and stopped.

Arthur formed in mid June in the warm Gulf waters off the Texas coast, brought record rainfall to parts of Louisiana and spawned tornadoes along the Gulf coast. Bertha formed in the Gulf as well, south of the Florida panhandle, and made landfall in St. Bernard Parish, Louisiana. Neither reached hurricane strength. No hurricane has formed in the Atlantic basin this year.

There is no active Atlantic storm this morning. The single National Weather Service alert anywhere in Florida is a rip current statement for the southeast coast, which does not reach Lee or Collier County.

Arthur is the one the National Weather Service director chose to talk about, and the reason is that it was never a hurricane.

"Inland rainfall is a major cause of damage from tropical storms and hurricanes, as Arthur demonstrated," said Ken Graham.

The number this release does not contain

This is the part that matters most on this coast, and it is an absence rather than a figure.

Yesterday this site reported Colorado State University's August update, which held its numbers at 9 named storms, 4 hurricanes and 1 major hurricane and gave peninsula Florida, everything south and east of Cedar Key, a 7 percent chance of at least one major hurricane landfall for the remainder of the season.

NOAA publishes no equivalent. Not for Southwest Florida, not for the state, not for any stretch of coastline.

It says so three times in this release. The outlook is described at the top as a general guide to overall activity and explicitly not a seasonal landfall forecast, and as something that does not predict activity for any particular location. A separate heading states that NOAA does not make seasonal hurricane landfall predictions, because landfalls are decided by weather patterns that only become predictable when a storm is within days of arriving. The discussion section states that it is not currently possible to predict whether a given locality will be impacted this season at all.

Two forecasts were published a day apart, both pointing the same way, and only one of them attaches a percentage to this coastline. It is worth knowing which.

Where the two teams agree

On direction, completely.

Colorado State's point forecast of 9 named storms sits inside NOAA's 7 to 13. Its 4 hurricanes sit inside 2 to 6. Its 1 major hurricane sits inside 0 to 2. Both teams name a strengthening El Nino and the wind shear it produces as the reason, and both published in the same week without moving toward each other's numbers, having reached them independently.

Two teams agreeing is not proof. It does remove the possibility that one of them is an outlier.

The other basins went the other way

El Nino suppresses the Atlantic and feeds the Pacific.

NOAA left its Eastern Pacific outlook unchanged at 15 to 22 named storms, which is above average, and that basin has already produced seven, two of them hurricanes and one of those major. The Central Pacific is also expected to run above normal, at 5 to 13 named storms and tropical depressions.

The same climate pattern is doing both things at once.

What NOAA asks you to do about it

Not treat any of the above as permission.

The agency's own preparedness language is that a hurricane related disaster can happen in any season, including a quiet one, because it takes a single storm to cause one. It puts the climatological peak in early September and expects most of the predicted activity across August, September and October. Measured from today, the season it has just downgraded is still mostly ahead.

One note on the figures. Gulf Coast News, which carried this update locally this morning under meteorologist Lauren Hope, reported the outlook as calling for 7 to 14 named storms. Both NOAA documents state 7 to 13.