Treasury yields diverged on Sept 11, 2026: DGS2 rose 7bp to 4.63% while DGS10 added 1bp to 4.96%, narrowing the 10-year/2-year spread by 6bp to 0.33 percentage points.

BLS released its August 2026 Consumer Price Index on Sept 11, 2026 — the same calendar date as this session's Treasury observations — showing the all-items index up 0.4% m/m (3.4% y/y) and core CPI up 0.3% m/m (2.4% y/y). That followed the August Producer Price Index release one day earlier (Sept 10), which showed final-demand PPI up 0.4% m/m. Both releases fell within the run-up to the Fed's next scheduled FOMC meeting on Sept 15-16, 2026, which will include an updated Summary of Economic Projections. No Federal Reserve press release or speech on monetary policy was found dated between Sept 4 and Sept 11, 2026, and no official source ties either data release specifically to the size of that day's Treasury yield moves — the timing noted here is calendar proximity only, not an explanation.

The 10-year Treasury yield (DGS10) rose 1bp, from 4.95% on Sept 10 to 4.96% on Sept 11, 2026. The 2-year Treasury yield (DGS2) rose 7bp over the same one-day span, from 4.56% to 4.63% — the larger of the two moves this session. Both figures come from the Federal Reserve's H.15 Selected Interest Rates release. No official source attributes either specific move size to a particular event; these should be treated as unexplained daily moves occurring within a week that also contained several official data releases.

The spread between the 30-year mortgage rate and DGS10 (mortgage30-dgs10) widened by 4bp to 1.80 percentage points this session. Because MORTGAGE30US is a carried-forward value from the Sept 10, 2026 PMMS release rather than a new observation, this widening reflects only the DGS10 side of the calculation. Separately, the 10-year/2-year Treasury spread (dgs10-dgs2) narrowed by 6bp to 0.33 percentage points, the arithmetic result of DGS2's larger 7bp rise outpacing DGS10's 1bp rise. No official source specifically addresses either spread change.

MORTGAGE30US (6.76%) and MORTGAGE15US (6.09%) are unchanged from Freddie Mac's Sept 10, 2026 PMMS release, carried forward for this session because no new weekly mortgage observation fell within this date range; the next PMMS release is scheduled for Sept 17, 2026. As always, the rate actually offered to an individual borrower depends on credit profile, loan term, and lender, and varies from these published national averages; this brief does not recommend or rank any specific bank or lender.

What to watch next: Next scheduled checkpoints: the FOMC meeting on Sept 15-16, 2026 (with an updated Summary of Economic Projections), and Freddie Mac's next weekly PMMS mortgage-rate release on Sept 17, 2026. Daily Treasury yields (DGS10/DGS2) update via the Fed's H.15 release on each business day.