Treasury note

9128283W8 · 2.75% due February 15, 2028

Original term
10-Year
Maturity
Feb 15, 2028
Coupon
2.750%
Pays
Semi-Annual
Dated
Feb 15, 2018
First coupon
Aug 15, 2018
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$69.74bn
Held stripped
$257.0m
Share stripped
0.37%

Stripped par is held as separate interest and principal components rather than as whole securities. The Safe Rate indices deliberately do not deduct it, and the whole-market figure is published so that decision can be argued with. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. The index figures are published per holding.

Risk, September 9, 2026

Yield to maturity
4.367%
Modified duration
1.379 yr
DV01
0.0135
Convexity
2.592
Dirty price
97.976

Where its rate sensitivity sits

3M
6M
1Y
2Y
3Y
5Y
7Y
10Y
15Y
20Y
25Y
30Y
Sensitivity to a one basis point move at each point on the curve, in years. Concentrated in 4 of twelve buckets, summing to 1.412 years against a modified duration of 1.379.

Against the fitted curve

Priced 1.3 bp cheap to the curve on that day, 1.81 cents per 100 of face.

That is 0.81 standard deviations from its own typical residual.

Yield to maturity, 2,143 observations

0%1%2%3%4%5%Feb 15, 2018Sep 9, 2026Feb 15, 2018Yield to maturity2.899%Mar 1, 2018Yield to maturity2.811%Mar 14, 2018Yield to maturity2.812%Mar 27, 2018Yield to maturity2.775%Apr 10, 2018Yield to maturity2.797%Apr 23, 2018Yield to maturity2.979%May 4, 2018Yield to maturity2.946%May 17, 2018Yield to maturity3.124%May 31, 2018Yield to maturity2.842%Jun 13, 2018Yield to maturity2.986%Jun 26, 2018Yield to maturity2.884%Jul 10, 2018Yield to maturity2.874%Jul 23, 2018Yield to maturity2.969%Aug 3, 2018Yield to maturity2.951%Aug 16, 2018Yield to maturity2.882%Aug 29, 2018Yield to maturity2.890%Sep 12, 2018Yield to maturity2.964%Sep 25, 2018Yield to maturity3.101%Oct 9, 2018Yield to maturity3.205%Oct 22, 2018Yield to maturity3.195%Nov 2, 2018Yield to maturity3.208%Nov 16, 2018Yield to maturity3.078%Nov 30, 2018Yield to maturity3.004%Dec 14, 2018Yield to maturity2.886%Dec 28, 2018Yield to maturity2.715%Jan 11, 2019Yield to maturity2.691%Jan 25, 2019Yield to maturity2.742%Feb 7, 2019Yield to maturity2.633%Feb 21, 2019Yield to maturity2.671%Mar 6, 2019Yield to maturity2.663%Mar 19, 2019Yield to maturity2.588%Apr 1, 2019Yield to maturity2.470%Apr 12, 2019Yield to maturity2.535%Apr 26, 2019Yield to maturity2.472%May 9, 2019Yield to maturity2.420%May 22, 2019Yield to maturity2.364%Jun 5, 2019Yield to maturity2.082%Jun 18, 2019Yield to maturity2.007%Jul 1, 2019Yield to maturity1.981%Jul 15, 2019Yield to maturity2.036%Jul 26, 2019Yield to maturity2.026%Aug 8, 2019Yield to maturity1.671%Aug 21, 2019Yield to maturity1.565%Sep 4, 2019Yield to maturity1.437%Sep 17, 2019Yield to maturity1.781%Sep 30, 2019Yield to maturity1.647%Oct 11, 2019Yield to maturity1.716%Oct 25, 2019Yield to maturity1.747%Nov 7, 2019Yield to maturity1.873%Nov 21, 2019Yield to maturity1.731%Dec 5, 2019Yield to maturity1.755%Dec 18, 2019Yield to maturity1.886%Jan 2, 2020Yield to maturity1.830%Jan 15, 2020Yield to maturity1.735%Jan 29, 2020Yield to maturity1.535%Feb 11, 2020Yield to maturity1.531%Feb 25, 2020Yield to maturity1.273%Mar 9, 2020Yield to maturity0.586%Mar 20, 2020Yield to maturity0.936%Apr 2, 2020Yield to maturity0.574%Apr 16, 2020Yield to maturity0.523%Apr 29, 2020Yield to maturity0.551%May 12, 2020Yield to maturity0.565%May 26, 2020Yield to maturity0.563%Jun 8, 2020Yield to maturity0.727%Jun 19, 2020Yield to maturity0.560%Jul 2, 2020Yield to maturity0.531%Jul 16, 2020Yield to maturity0.488%Jul 29, 2020Yield to maturity0.455%Aug 11, 2020Yield to maturity0.492%Aug 24, 2020Yield to maturity0.494%Sep 4, 2020Yield to maturity0.531%Sep 18, 2020Yield to maturity0.501%Oct 1, 2020Yield to maturity0.485%Oct 15, 2020Yield to maturity0.539%Oct 28, 2020Yield to maturity0.577%Nov 10, 2020Yield to maturity0.739%Nov 24, 2020Yield to maturity0.652%Dec 8, 2020Yield to maturity0.658%Dec 21, 2020Yield to maturity0.665%Jan 5, 2021Yield to maturity0.659%Jan 19, 2021Yield to maturity0.771%Feb 1, 2021Yield to maturity0.745%Feb 12, 2021Yield to maturity0.825%Feb 26, 2021Yield to maturity1.130%Mar 11, 2021Yield to maturity1.168%Mar 24, 2021Yield to maturity1.233%Apr 6, 2021Yield to maturity1.289%Apr 19, 2021Yield to maturity1.232%Apr 30, 2021Yield to maturity1.261%May 13, 2021Yield to maturity1.246%May 26, 2021Yield to maturity1.169%Jun 9, 2021Yield to maturity1.092%Jun 22, 2021Yield to maturity1.158%Jul 6, 2021Yield to maturity1.052%Jul 19, 2021Yield to maturity0.900%Jul 30, 2021Yield to maturity0.923%Aug 12, 2021Yield to maturity1.051%Aug 25, 2021Yield to maturity1.043%Sep 8, 2021Yield to maturity1.014%Sep 21, 2021Yield to maturity1.029%Oct 4, 2021Yield to maturity1.165%Oct 18, 2021Yield to maturity1.338%Oct 29, 2021Yield to maturity1.356%Nov 12, 2021Yield to maturity1.388%Nov 26, 2021Yield to maturity1.310%Dec 9, 2021Yield to maturity1.359%Dec 22, 2021Yield to maturity1.332%Jan 5, 2022Yield to maturity1.545%Jan 19, 2022Yield to maturity1.716%Feb 1, 2022Yield to maturity1.721%Feb 14, 2022Yield to maturity1.962%Feb 28, 2022Yield to maturity1.779%Mar 11, 2022Yield to maturity2.008%Mar 24, 2022Yield to maturity2.412%Apr 6, 2022Yield to maturity2.726%Apr 20, 2022Yield to maturity2.902%May 3, 2022Yield to maturity3.046%May 16, 2022Yield to maturity2.880%May 27, 2022Yield to maturity2.773%Jun 10, 2022Yield to maturity3.285%Jun 24, 2022Yield to maturity3.220%Jul 8, 2022Yield to maturity3.186%Jul 21, 2022Yield to maturity3.045%Aug 3, 2022Yield to maturity2.891%Aug 16, 2022Yield to maturity2.986%Aug 29, 2022Yield to maturity3.324%Sep 12, 2022Yield to maturity3.515%Sep 23, 2022Yield to maturity3.985%Oct 6, 2022Yield to maturity4.087%Oct 20, 2022Yield to maturity4.490%Nov 2, 2022Yield to maturity4.340%Nov 16, 2022Yield to maturity3.872%Nov 30, 2022Yield to maturity3.886%Dec 13, 2022Yield to maturity3.707%Dec 27, 2022Yield to maturity4.007%Jan 10, 2023Yield to maturity3.769%Jan 24, 2023Yield to maturity3.609%Feb 6, 2023Yield to maturity3.847%Feb 17, 2023Yield to maturity4.050%Mar 3, 2023Yield to maturity4.293%Mar 16, 2023Yield to maturity3.761%Mar 29, 2023Yield to maturity3.738%Apr 11, 2023Yield to maturity3.585%Apr 24, 2023Yield to maturity3.635%May 5, 2023Yield to maturity3.451%May 18, 2023Yield to maturity3.743%Jun 1, 2023Yield to maturity3.780%Jun 14, 2023Yield to maturity4.131%Jun 28, 2023Yield to maturity4.049%Jul 12, 2023Yield to maturity4.145%Jul 25, 2023Yield to maturity4.258%Aug 7, 2023Yield to maturity4.238%Aug 18, 2023Yield to maturity4.450%Aug 31, 2023Yield to maturity4.331%Sep 14, 2023Yield to maturity4.508%Sep 27, 2023Yield to maturity4.762%Oct 11, 2023Yield to maturity4.652%Oct 24, 2023Yield to maturity4.863%Nov 6, 2023Yield to maturity4.656%Nov 17, 2023Yield to maturity4.526%Dec 1, 2023Yield to maturity4.225%Dec 14, 2023Yield to maturity3.989%Dec 28, 2023Yield to maturity3.932%Jan 11, 2024Yield to maturity3.960%Jan 25, 2024Yield to maturity4.075%Feb 7, 2024Yield to maturity4.130%Feb 21, 2024Yield to maturity4.374%Mar 5, 2024Yield to maturity4.235%Mar 18, 2024Yield to maturity4.465%Mar 29, 2024Yield to maturity4.343%Apr 11, 2024Yield to maturity4.717%Apr 24, 2024Yield to maturity4.753%May 7, 2024Yield to maturity4.591%May 20, 2024Yield to maturity4.569%Jun 3, 2024Yield to maturity4.549%Jun 14, 2024Yield to maturity4.382%Jun 28, 2024Yield to maturity4.486%Jul 12, 2024Yield to maturity4.210%Jul 25, 2024Yield to maturity4.251%Aug 7, 2024Yield to maturity3.861%Aug 20, 2024Yield to maturity3.793%Sep 3, 2024Yield to maturity3.744%Sep 16, 2024Yield to maturity3.455%Sep 27, 2024Yield to maturity3.522%Oct 10, 2024Yield to maturity3.936%Oct 24, 2024Yield to maturity4.054%Nov 6, 2024Yield to maturity4.268%Nov 20, 2024Yield to maturity4.285%Dec 4, 2024Yield to maturity4.108%Dec 17, 2024Yield to maturity4.254%Dec 31, 2024Yield to maturity4.306%Jan 14, 2025Yield to maturity4.492%Jan 28, 2025Yield to maturity4.263%Feb 10, 2025Yield to maturity4.315%Feb 24, 2025Yield to maturity4.184%Mar 7, 2025Yield to maturity4.025%Mar 20, 2025Yield to maturity3.944%Apr 2, 2025Yield to maturity3.899%Apr 15, 2025Yield to maturity3.853%Apr 28, 2025Yield to maturity3.685%May 9, 2025Yield to maturity3.893%May 22, 2025Yield to maturity3.992%Jun 5, 2025Yield to maturity3.921%Jun 18, 2025Yield to maturity3.912%Jul 2, 2025Yield to maturity3.799%Jul 16, 2025Yield to maturity3.880%Jul 29, 2025Yield to maturity3.856%Aug 11, 2025Yield to maturity3.751%Aug 22, 2025Yield to maturity3.656%Sep 5, 2025Yield to maturity3.506%Sep 18, 2025Yield to maturity3.570%Oct 1, 2025Yield to maturity3.567%Oct 15, 2025Yield to maturity3.509%Oct 28, 2025Yield to maturity3.506%Nov 10, 2025Yield to maturity3.591%Nov 24, 2025Yield to maturity3.500%Dec 8, 2025Yield to maturity3.589%Dec 19, 2025Yield to maturity3.494%Jan 5, 2026Yield to maturity3.477%Jan 16, 2026Yield to maturity3.602%Jan 30, 2026Yield to maturity3.536%Feb 12, 2026Yield to maturity3.482%Feb 26, 2026Yield to maturity3.462%Mar 11, 2026Yield to maturity3.645%Mar 24, 2026Yield to maturity3.941%Apr 6, 2026Yield to maturity3.874%Apr 17, 2026Yield to maturity3.732%Apr 30, 2026Yield to maturity3.896%May 13, 2026Yield to maturity3.975%May 27, 2026Yield to maturity4.021%Jun 9, 2026Yield to maturity4.127%Jun 23, 2026Yield to maturity4.199%Jul 7, 2026Yield to maturity4.192%Jul 20, 2026Yield to maturity4.204%Jul 31, 2026Yield to maturity4.281%Aug 13, 2026Yield to maturity4.136%Aug 26, 2026Yield to maturity4.191%Sep 9, 2026Yield to maturity4.367%

Price history

2,143 trading days to Sep 9, 2026

9095100105110115120Feb 15, 2018Sep 9, 2026Feb 15, 2018Close98.719Mar 1, 2018Close99.469Mar 14, 2018Close99.469Mar 27, 2018Close99.781Apr 10, 2018Close99.594Apr 23, 2018Close98.063May 4, 2018Close98.344May 17, 2018Close96.875May 31, 2018Close99.219Jun 13, 2018Close98.031Jun 26, 2018Close98.875Jul 10, 2018Close98.969Jul 23, 2018Close98.188Aug 3, 2018Close98.344Aug 16, 2018Close98.906Aug 29, 2018Close98.844Sep 12, 2018Close98.250Sep 25, 2018Close97.156Oct 9, 2018Close96.344Oct 22, 2018Close96.438Nov 2, 2018Close96.344Nov 16, 2018Close97.375Nov 30, 2018Close97.969Dec 14, 2018Close98.906Dec 28, 2018Close100.281Jan 11, 2019Close100.469Jan 25, 2019Close100.063Feb 7, 2019Close100.938Feb 21, 2019Close100.625Mar 6, 2019Close100.688Mar 19, 2019Close101.281Apr 1, 2019Close102.219Apr 12, 2019Close101.688Apr 26, 2019Close102.188May 9, 2019Close102.594May 22, 2019Close103.031Jun 5, 2019Close105.281Jun 18, 2019Close105.875Jul 1, 2019Close106.063Jul 15, 2019Close105.594Jul 26, 2019Close105.656Aug 8, 2019Close108.531Aug 21, 2019Close109.375Sep 4, 2019Close110.406Sep 17, 2019Close107.531Sep 30, 2019Close108.594Oct 11, 2019Close108.000Oct 25, 2019Close107.719Nov 7, 2019Close106.688Nov 21, 2019Close107.781Dec 5, 2019Close107.563Dec 18, 2019Close106.500Jan 2, 2020Close106.906Jan 15, 2020Close107.625Jan 29, 2020Close109.156Feb 11, 2020Close109.156Feb 25, 2020Close111.156Mar 9, 2020Close116.750Mar 20, 2020Close113.781Apr 2, 2020Close116.719Apr 16, 2020Close117.063Apr 29, 2020Close116.750May 12, 2020Close116.563May 26, 2020Close116.500Jun 8, 2020Close115.094Jun 19, 2020Close116.375Jul 2, 2020Close116.531Jul 16, 2020Close116.813Jul 29, 2020Close117.000Aug 11, 2020Close116.625Aug 24, 2020Close116.531Sep 4, 2020Close116.156Sep 18, 2020Close116.313Oct 1, 2020Close116.375Oct 15, 2020Close115.875Oct 28, 2020Close115.500Nov 10, 2020Close114.188Nov 24, 2020Close114.781Dec 8, 2020Close114.656Dec 21, 2020Close114.531Jan 5, 2021Close114.500Jan 19, 2021Close113.594Feb 1, 2021Close113.719Feb 12, 2021Close113.063Feb 26, 2021Close110.813Mar 11, 2021Close110.500Mar 24, 2021Close110.000Apr 6, 2021Close109.563Apr 19, 2021Close109.906Apr 30, 2021Close109.656May 13, 2021Close109.719May 26, 2021Close110.188Jun 9, 2021Close110.656Jun 22, 2021Close110.156Jul 6, 2021Close110.813Jul 19, 2021Close111.781Jul 30, 2021Close111.563Aug 12, 2021Close110.656Aug 25, 2021Close110.656Sep 8, 2021Close110.781Sep 21, 2021Close110.625Oct 4, 2021Close109.688Oct 18, 2021Close108.531Oct 29, 2021Close108.375Nov 12, 2021Close108.125Nov 26, 2021Close108.563Dec 9, 2021Close108.219Dec 22, 2021Close108.344Jan 5, 2022Close107.000Jan 19, 2022Close105.938Feb 1, 2022Close105.875Feb 14, 2022Close104.438Feb 28, 2022Close105.469Mar 11, 2022Close104.125Mar 24, 2022Close101.844Apr 6, 2022Close100.125Apr 20, 2022Close99.188May 3, 2022Close98.438May 16, 2022Close99.313May 27, 2022Close99.875Jun 10, 2022Close97.250Jun 24, 2022Close97.594Jul 8, 2022Close97.781Jul 21, 2022Close98.500Aug 3, 2022Close99.281Aug 16, 2022Close98.813Aug 29, 2022Close97.156Sep 12, 2022Close96.250Sep 23, 2022Close94.063Oct 6, 2022Close93.625Oct 20, 2022Close91.844Nov 2, 2022Close92.563Nov 16, 2022Close94.719Nov 30, 2022Close94.688Dec 13, 2022Close95.531Dec 27, 2022Close94.219Jan 10, 2023Close95.313Jan 24, 2023Close96.063Feb 6, 2023Close95.031Feb 17, 2023Close94.188Mar 3, 2023Close93.188Mar 16, 2023Close95.500Mar 29, 2023Close95.625Apr 11, 2023Close96.313Apr 24, 2023Close96.125May 5, 2023Close96.938May 18, 2023Close95.719Jun 1, 2023Close95.594Jun 14, 2023Close94.188Jun 28, 2023Close94.563Jul 12, 2023Close94.219Jul 25, 2023Close93.813Aug 7, 2023Close93.938Aug 18, 2023Close93.156Aug 31, 2023Close93.656Sep 14, 2023Close93.031Sep 27, 2023Close92.125Oct 11, 2023Close92.594Oct 24, 2023Close91.875Nov 6, 2023Close92.688Nov 17, 2023Close93.219Dec 1, 2023Close94.375Dec 14, 2023Close95.281Dec 28, 2023Close95.531Jan 11, 2024Close95.469Jan 25, 2024Close95.094Feb 7, 2024Close94.938Feb 21, 2024Close94.125Mar 5, 2024Close94.656Mar 18, 2024Close93.906Mar 29, 2024Close94.375Apr 11, 2024Close93.156Apr 24, 2024Close93.094May 7, 2024Close93.688May 20, 2024Close93.813Jun 3, 2024Close93.938Jun 14, 2024Close94.531Jun 28, 2024Close94.250Jul 12, 2024Close95.188Jul 25, 2024Close95.094Aug 7, 2024Close96.375Aug 20, 2024Close96.625Sep 3, 2024Close96.813Sep 16, 2024Close97.750Sep 27, 2024Close97.563Oct 10, 2024Close96.313Oct 24, 2024Close96.000Nov 6, 2024Close95.406Nov 20, 2024Close95.406Dec 4, 2024Close95.969Dec 17, 2024Close95.594Dec 31, 2024Close95.500Jan 14, 2025Close95.031Jan 28, 2025Close95.719Feb 10, 2025Close95.625Feb 24, 2025Close96.031Mar 7, 2025Close96.500Mar 20, 2025Close96.750Apr 2, 2025Close96.906Apr 15, 2025Close97.063Apr 28, 2025Close97.531May 9, 2025Close97.031May 22, 2025Close96.813Jun 5, 2025Close97.031Jun 18, 2025Close97.094Jul 2, 2025Close97.406Jul 16, 2025Close97.250Jul 29, 2025Close97.344Aug 11, 2025Close97.625Aug 22, 2025Close97.875Sep 5, 2025Close98.250Sep 18, 2025Close98.125Oct 1, 2025Close98.156Oct 15, 2025Close98.313Oct 28, 2025Close98.344Nov 10, 2025Close98.188Nov 24, 2025Close98.406Dec 8, 2025Close98.250Dec 19, 2025Close98.469Jan 5, 2026Close98.531Jan 16, 2026Close98.313Jan 30, 2026Close98.469Feb 12, 2026Close98.594Feb 26, 2026Close98.656Mar 11, 2026Close98.344Mar 24, 2026Close97.844Apr 6, 2026Close98.000Apr 17, 2026Close98.281Apr 30, 2026Close98.031May 13, 2026Close97.938May 27, 2026Close97.906Jun 9, 2026Close97.781Jun 23, 2026Close97.719Jul 7, 2026Close97.781Jul 20, 2026Close97.813Jul 31, 2026Close97.750Aug 13, 2026Close98.000Aug 26, 2026Close97.969Sep 9, 2026Close97.781
The most recent 20 trading days of prices for 9128283W8.
DateBidOfferClose
Sep 9, 202697.79797.78197.781
Sep 8, 202697.82897.81397.813
Sep 4, 202697.84497.84497.844
Sep 3, 202697.87597.87597.844
Sep 2, 202697.79797.78197.781
Sep 1, 202697.79797.78197.750
Aug 31, 202697.82897.81397.813
Aug 28, 202697.85997.84497.813
Aug 27, 202698.00098.00097.969
Aug 26, 202697.98497.96997.969
Aug 25, 202698.01698.00098.000
Aug 24, 202697.98497.96997.938
Aug 21, 202697.95397.93897.938
Aug 20, 202698.01698.00098.000
Aug 19, 202697.98497.96998.000
Aug 18, 202698.00098.00098.000
Aug 17, 202698.01698.00097.969
Aug 14, 202698.04798.03198.000
Aug 13, 202698.01698.00098.000
Aug 12, 202697.95397.93897.938

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 9128283W8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 7, 2018Feb 15, 2018New issue$24.0bn$28.5bn2.34x2.811%
Mar 12, 2018Mar 15, 2018Reopening$21.0bn$21.0bn2.50x2.889%
Apr 11, 2018Apr 16, 2018Reopening$21.0bn$21.0bn2.46x2.795%

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.