Benchmark yield ends the week at 5 percent

The 10-year US Treasury yield closed at 5.00 percent on Friday, 23 October 2026, up 4 basis points from the previous session, according to CrunchUpdates data sourced from US Treasury daily par yield curve rates for 23 October. The 2-year yield was 4.69 percent and the 30-year yield was 5.33 percent. The gap between the 10-year and 2-year yields was plus 31 basis points, a normal upward-sloping curve, as it has been since 6 September 2024. A year earlier, the 10-year yield was 4.01 percent.

The curve showed the 3-month yield at 4.22 percent and the 5-year at 4.82 percent. Over the week the 10-year was down 9 basis points, showing yields easing from earlier October highs.

Why 5 percent matters for mortgages and stocks

Treasury yields are the rates the US government pays to borrow, and they set a baseline for mortgages, company loans and the value of stocks and bonds around the world. When the 10-year yield rises, borrowing tends to become more expensive, while falling yields can ease pressure on bond prices, since prices and yields move in opposite directions. Trading Economics noted on 23 October that the yield had fallen by more than 10 basis points in the previous session to almost 5 percent, its lowest in about a month, as investors sought safer assets during a technology sell-off.

Markets were also pricing in roughly a 91 percent probability that the Federal Reserve will leave rates unchanged at its meeting next week, with the likelihood of a December increase at around 80 percent. The next Treasury release is due on 26 October. This article is market news, not investment advice.