As of December 10, 2025, the 10‑year U.S. Treasury yield is trading around 4.2%, its highest level in roughly three months, just hours before the Federal Reserve is expected to deliver its final policy decision of the year. Real‑time market data from multiple sources show the benchmark yield in the 4.18%–4.21% range: Zooming out, the move caps a sharp climb from roughly 4.06%–4.11% at the start of December, according to Federal Reserve (FRED) daily constant‑maturity data. FRED And yet, today’s yield is still slightly below the long‑term historical average of around 4.25%. YCharts In other words: yields are high by post‑pandemic standards, but not extreme by historical ones—and the Fed’s next