U.S. Treasury yields rose on March 4 as investors assessed the implications of the U.S.-Iran war on the global markets.
ADP also released its national employment report today, as per which private employment rose by 63,000 jobs in February, the largest gain since July 2025.
Data related to non-farm payrolls, unemployment, and retail sales will get released on March 6.
Meanwhile, some U.S. Treasury yields rose higher as the war in Western Asia goes on.
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The 10-year Treasury yield rose 2 basis points to 4.079%.
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The 2-year Treasury yield rose 1 basis points to 3.514%.
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The 1-year Treasury yield rose 0.005% to 3.559%.
Short-term Treasury yields, however, saw no uptick.
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The 6-month Treasury yield remained unchanged at 3.649%.
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The 3-month Treasury yield remained unchanged at 3.684%.
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The 1-month Treasury yield remained unchanged at 3.698%.
A U.S. Treasury yield is a fixed return or interest an investor earns on whatever they paid for it. It is calculated as the interest divided by its current market price.
As some investors sold Treasuries, prices fell and yields rose.
Since the interest is fixed, a price decline means the same fixed interest represents a higher percentage return relative to what you paid.
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U.S. dollar hits lows again as stablecoin volumes surge 140%
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White House meets crypto and banking executives as Bitcoin crashes
Stablecoins are major buyers of Treasury bills
A stablecoin is a type of cryptocurrency that, unlike traditionally volatile cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), aims to keep its value stable by being pegged to a "stable" asset like a fiat currency, such as the U.S. dollar.
The value of one USD-pegged stablecoin is the same as that of one dollar. Each such stablecoin is pegged 1:1 to the USD and is backed by dollar reserves like U.S. Treasury Bills (T-bills).
A T-bill is a short-term, low-risk debt security issued by the U.S. Department of the Treasury to finance government operations. Its term ranges from four weeks to 52 weeks.
As U.S. President Donald Trump signed the GENIUS Act into law in July last year, the law requires stablecoin issuers to back their "digital dollars" with reliable reserves made up of high-quality liquid assets.
Leading stablecoins like Tether's USDT and Circle's USDC hold most of their USD reserves in T-bills.
In fact, the T-bill holdings of USD-pegged stablecoins ($153 billion in December 2025) surpass those of leading countries like Japan, Ireland, Luxembourg, the United Kingdom, Belgium, China, Switzerland, and Bermuda as per a working paper published by the Bank for International Settlements (BIS).
Related: Explained: What is a stablecoin?
This story was originally published by TheStreet on Mar 4, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
