Wednesday's Curve: 4.58% at Two Years, 4.90% at Ten

On November 4 the ten-year par yield was 4.90 percent and the two-year was 4.58 percent. The gap is 0.32 percentage points.

By Marcus Ell, Markets Columnist

November 5, 2026New York2 min read

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The two-year Treasury par yield was 4.58 percent on Wednesday, November 4, 2026. The ten-year was 4.90 percent. The gap, ten minus two, was 0.32 percentage points. Tuesday's par yields were 4.61 percent and 4.95 percent, and the gap was 0.34 percentage points. The two-year fell 3 basis points. The ten-year fell 5. The gap narrowed by 2 basis points.

The spread between the ten-year and two-year constant-maturity yields, as published by the St. Louis Fed, was 0.32 on November 4 and 0.34 on November 3, matching the par-yield gaps. The constant-maturity levels themselves do not yet include Wednesday. The two-year, ten-year, twenty-year, and thirty-year run through November 3, at 4.61, 4.95, 5.35, and 5.32 percent, the same as Tuesday's par yields. Wednesday's figures above are par yields from the daily Treasury curve.

The other par yields, Wednesday against Tuesday: the one-month was 4.01 percent, from 4.03. The three-month was 4.21 percent, unchanged. The six-month was 4.25 percent, from 4.26. The one-year was 4.39 percent, from 4.40. The three-year was 4.64 percent, from 4.68. The five-year was 4.69 percent, from 4.74. The seven-year was 4.77 percent, from 4.83. The twenty-year was 5.30 percent, from 5.35. The thirty-year was 5.28 percent, from 5.32. On both days the twenty-year par yield was higher than the thirty-year, by 2 basis points on Wednesday and by 3 on Tuesday.

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