10Y Yield Dips to 4.55% as Curve Steepens Slightly
· Economics · MarketsFN Data Team
The 10-year Treasury yield eased 2 bps to 4.55% Tuesday, extending a modest weekly decline while the 2Y-10Y spread widened 3 bps, maintaining a positive curve signal.
The 10-year yield stands at 4.55%, down 1 bp this week but up 36 bps year-to-date. It remains above both the 3-month (4.464%) and 1-year (4.254%) averages, hovering near the middle of its 52-week range (3.97%-4.67%). Recent momentum suggests consolidation after July's volatility.
The 2Y-10Y spread widened to +39 bps, up 3 bps WoW, holding firmly in positive territory. While below its 52-week high (+74 bps), the persistent steepening contrasts with 2023's inversion, historically signaling modest growth expectations rather than imminent recession risks.
Markets await Thursday's jobless claims and Friday's flash PMIs for growth clues. Fed speakers could shift rate expectations, while technical support at 4.50% remains key. A break either way may set the tone for August.
Key Statistics at a Glance
| Edition | Mid-Week Update |
| Date | Tuesday, July 21, 2026 |
| 10Y Yield | 4.55% |
| 10Y Day-on-day | ▼ 2.0 bps |
| 10Y Week-on-week | ▼ 1.0 bps |
| 10Y YTD change | +36.0 bps |
| 10Y 3-month avg | 4.46% |
| 10Y 1-year avg | 4.25% |
| 10Y 52-week high | 4.67% |
| 10Y 52-week low | 3.97% |
| 2Y Yield | 4.18% |
| 2Y–10Y Spread | +0.390% (+39.0 bps) |
| Spread WoW | ▲ 3.0 bps |
| Spread 52-week high | +0.740% |
| Spread 52-week low | +0.270% |
| Curve signal | Positive |