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MarketsAnalysisPast Article

A Higher Yield Is Not a Verdict

The ten-year par yield finished the session at 4.02 percent, up 1 basis point from the prior session.

By Marcus Ell, Markets Columnist

New York1 min read

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a rack of servers in a server roomPhoto by Kevin Ache on Unsplash

On October 24, 2025 the ten-year Treasury par yield was 4.02 percent, up 1 basis point from 4.01 percent in the prior session, according to the Treasury par curve as published by the St. Louis Fed.

The two-year was 3.48 percent. People will tell you the pair means the market has decided something about the next meeting. The pair means the two-year note and the ten-year note cleared at those yields. A decision by the committee, if there is one, will be a document with a vote.

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