Treasury curve steepens 5.0 bp; 10-year ends at 5.17%
US Treasury close for 2026-09-25: 2Y 4.81%, 10Y 5.17%, 30Y 5.49%; 2s10s 36 bp. Market data and edition dates are shown separately.
The 2s10s curve steepened 5.0 bp, making curve shape more important than the outright 10-year move. The 10-year finished at 5.17%, down 1.0 bp from the previous official observation.
Rates in context
At the policy-sensitive end, the 2-year closed at 4.81% (-6.0 bp). Five-year yields ended at 4.98% (-5.0 bp), while the 30-year finished at 5.49% (+2.0 bp).
The curve beneath the headline
A positive 36.0 bp 2s10s spread left the curve steeper by 5.0 bp. The 5s30s spread stood at 51.0 bp, a 7.0 bp widening, while 1s10s finished at 67.0 bp.
What BondStats is watching
Front-end repricing was stronger than the long-end move. That makes the session more sensitive to the path of near-term rates than a simple reading of the 10-year headline suggests.
BondStats computes these comparisons from official US Treasury daily par yield-curve observations. They are indicative par yields, not transaction prices. Causal claims are deliberately excluded unless a separate primary source establishes them.