US 10-year Treasury yield closes below 5% for the first time since 22 September

The 10-year Treasury yield closed at 4.96% on 22 October 2026, according to the Treasury's daily par yield curve rates. That is the first close below 5% since 22 September, when the yield also closed at 4.96%.

The last two weeks

• 5 October: 5.31%, the highest close in the Treasury data for the period
• 16 October: 5.09%
• 21 October: 5.13%
• 22 October: 4.96%

The 2-year yield fell from 4.81% to 4.65% on 22 October, and the 30-year from 5.42% to 5.29%. The 17-basis-point fall in the 10-year on 22 October is the largest one-day move in the Treasury data from 5 to 22 October.

Reading it

The Treasury data show what happened to yields, not why. Yields can fall because investors expect lower inflation, lower policy rates or slower growth, or because they want safe assets, and a daily table cannot separate these. For the mechanism, see how the 10-year yield moves forex.

The yield had been close to 5.09% earlier this month (yields report) and peaked at 5.31% on 5 October. For the link to currencies, see bond yields and exchange rates. Live prices: EUR/USD.