Treasury
3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp 3-MO 3.83% +1bp 6-MO 3.98% unch 1-YR 4.08% +4bp 2-YR 4.28% +5bp 3-YR 4.34% +4bp 5-YR 4.45% +7bp 7-YR 4.59% +7bp 10-YR 4.75% +7bp 20-YR 5.28% +6bp 30-YR 5.27% +6bp
US Treasury par yield curve · Jul 31 · Source: U.S. Treasury
Saturday, August 1, 2026
U.S. Edition
MONEY & WORLD
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Daily par yield curve

The 30-year Treasury yield closed July at 5.27 percent, the highest Treasury has published since 2007, and the 20-year sits above it

Money & World
The Editorial Team ·
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5.27 percent.

That is the 30-year Treasury par yield Treasury published for 31 July, the last session of the month, and it is the highest figure in that series since 6 July 2007. The 20-year closed at 5.28, one hundredth of a point above it. The 10-year finished at 4.75.

The comparison, checked rather than assumed

The claim that a yield is at a nineteen-year high is easy to write and tedious to verify, so it was verified.

Treasury publishes the daily par yield curve as a downloadable file per calendar year. Every year from 2007 through 2026 was pulled and parsed here, giving 4,899 daily observations of the 30-year. Not one session between 2008 and 2025 reached 5.27. The closest approaches came on 19 October 2023, at 5.11, and 21 May 2025, at 5.08. Inside 2007 there are five sessions at or above 5.27, and the last of them is 6 July that year, at 5.28.

So the record is a nineteen-year high and not a record. The same series printed 5.35 in June 2007.

The bases

A closing level on its own is close to meaningless, so here is where the year started.

On 2 January the 30-year stood at 4.86, the 20-year at 4.81 and the 10-year at 4.19. Seven months later those readings are 5.27, 5.28 and 4.75. The long end moved 41 basis points and the 10-year moved 56.

The inversion at the end of the curve

The 20-year sitting above the 30-year looks like the news in Friday's table. It is not.

That relationship has held on 41 of the 146 sessions Treasury has published in 2026, and the first of them was 20 March. It is a feature of this year's curve rather than an event in it.

Treasury's series states levels and nothing else. It offers no reason for any of this, and none is offered here.

The document: Department of the Treasury, Daily Treasury Par Yield Curve Rates, calendar year 2026. Every figure below was taken from Treasury's own published CSV export of that series, fetched from home.treasury.gov and parsed here; no fetch-tool summary and no third-party market data provider was relied on at any point. Verified in the 2026 file, which carries 146 observations from 2 January to 31 July: the reading for 31 July 2026 is 1 month 3.78, 1.5 month 3.80, 2 month 3.85, 3 month 3.83, 4 month 3.92, 6 month 3.98, 1 year 4.08, 2 year 4.28, 3 year 4.34, 5 year 4.45, 7 year 4.59, 10 year 4.75, 20 year 5.28, 30 year 5.27. The first observation of 2026, 2 January, reads 10 year 4.19, 20 year 4.81, 30 year 4.86. The five sessions before 31 July read, as 10 year / 20 year / 30 year: 22 July 4.67 / 5.17 / 5.15; 23 July 4.71 / 5.20 / 5.17; 24 July 4.69 / 5.18 / 5.16; 27 July 4.65 / 5.15 / 5.12; 28 July 4.61 / 5.11 / 5.09; 29 July 4.67 / 5.21 / 5.20; 30 July 4.68 / 5.22 / 5.21. The historical claim was verified rather than assumed, and rather than taken from any secondary summary. The same Treasury CSV endpoint was pulled for every calendar year from 2007 through 2025 inclusive and parsed, giving 4,899 daily 30-year observations across 2007 to 2026. The annual maximum of the 30-year in each of those years is: 2007, 5.35 on 12 June; 2008, 4.79; 2009, 4.76; 2010, 4.85; 2011, 4.76; 2012, 3.48; 2013, 3.96; 2014, 3.93; 2015, 3.25; 2016, 3.19; 2017, 3.20; 2018, 3.46; 2019, 3.13; 2020, 2.38; 2021, 2.45; 2022, 4.40; 2023, 5.11 on 19 October; 2024, 4.82; 2025, 5.08 on 21 May. No year between 2008 and 2025 contains a single 30-year observation at or above 5.27. Within 2007 there are exactly five sessions at or above 5.27, and the last of them is 6 July 2007 at 5.28. The 20-year figure standing above the 30-year is not new in 2026 and is not presented as new: 41 of the 146 sessions in the 2026 file carry a 20-year above the 30-year, the first being 20 March 2026. Treasury publishes this series as par yield curve rates derived from closing market bid prices on the most recently auctioned securities, and it is a published data series rather than a transaction record. Nothing in the series states a cause for any move, and no cause is asserted below. This document contains no allegation against any party..

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