Treasury note

912828U24 · 2% due November 15, 2026

Original term
10-Year
Maturity
Nov 15, 2026
Coupon
2.000%
Pays
Semi-Annual
Dated
Nov 15, 2016
First coupon
May 15, 2017
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$64.29bn
Held stripped
$190.5m
Share stripped
0.30%

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
3.905%
Modified duration
0.178 yr
DV01
0.0018
Convexity
0.063
Dirty price
100.298

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. All of it sits at 3M. For a security with a single remaining cashflow that is the true shape, not missing data.

Against the fitted curve

Priced 2.1 bp rich to the curve on that day, 0.37 cents per 100 of face.

That is 0.28 standard deviations from its own typical residual.

Yield to maturity, 2,456 observations

0%1%2%3%4%5%6%Nov 15, 2016Sep 9, 2026Nov 15, 2016Yield to maturity2.235%Dec 1, 2016Yield to maturity2.444%Dec 16, 2016Yield to maturity2.597%Jan 4, 2017Yield to maturity2.452%Jan 20, 2017Yield to maturity2.472%Feb 6, 2017Yield to maturity2.415%Feb 22, 2017Yield to maturity2.439%Mar 9, 2017Yield to maturity2.606%Mar 24, 2017Yield to maturity2.398%Apr 10, 2017Yield to maturity2.366%Apr 26, 2017Yield to maturity2.315%May 11, 2017Yield to maturity2.395%May 26, 2017Yield to maturity2.251%Jun 13, 2017Yield to maturity2.203%Jun 28, 2017Yield to maturity2.211%Jul 14, 2017Yield to maturity2.311%Jul 31, 2017Yield to maturity2.274%Aug 15, 2017Yield to maturity2.256%Aug 30, 2017Yield to maturity2.131%Sep 15, 2017Yield to maturity2.189%Oct 2, 2017Yield to maturity2.325%Oct 18, 2017Yield to maturity2.322%Nov 2, 2017Yield to maturity2.328%Nov 17, 2017Yield to maturity2.345%Dec 5, 2017Yield to maturity2.358%Dec 20, 2017Yield to maturity2.484%Jan 8, 2018Yield to maturity2.478%Jan 24, 2018Yield to maturity2.644%Feb 8, 2018Yield to maturity2.860%Feb 26, 2018Yield to maturity2.869%Mar 13, 2018Yield to maturity2.847%Mar 28, 2018Yield to maturity2.774%Apr 13, 2018Yield to maturity2.821%Apr 30, 2018Yield to maturity2.950%May 15, 2018Yield to maturity3.086%May 31, 2018Yield to maturity2.837%Jun 15, 2018Yield to maturity2.928%Jul 2, 2018Yield to maturity2.866%Jul 18, 2018Yield to maturity2.871%Aug 2, 2018Yield to maturity2.977%Aug 17, 2018Yield to maturity2.857%Sep 4, 2018Yield to maturity2.883%Sep 19, 2018Yield to maturity3.059%Oct 4, 2018Yield to maturity3.175%Oct 22, 2018Yield to maturity3.167%Nov 6, 2018Yield to maturity3.182%Nov 23, 2018Yield to maturity3.012%Dec 11, 2018Yield to maturity2.851%Dec 27, 2018Yield to maturity2.722%Jan 14, 2019Yield to maturity2.653%Jan 30, 2019Yield to maturity2.629%Feb 14, 2019Yield to maturity2.600%Mar 4, 2019Yield to maturity2.664%Mar 19, 2019Yield to maturity2.547%Apr 3, 2019Yield to maturity2.448%Apr 18, 2019Yield to maturity2.492%May 6, 2019Yield to maturity2.430%May 21, 2019Yield to maturity2.357%Jun 6, 2019Yield to maturity2.032%Jun 21, 2019Yield to maturity1.950%Jul 9, 2019Yield to maturity1.977%Jul 24, 2019Yield to maturity1.940%Aug 8, 2019Yield to maturity1.625%Aug 23, 2019Yield to maturity1.464%Sep 10, 2019Yield to maturity1.657%Sep 25, 2019Yield to maturity1.660%Oct 10, 2019Yield to maturity1.570%Oct 28, 2019Yield to maturity1.744%Nov 13, 2019Yield to maturity1.785%Nov 29, 2019Yield to maturity1.717%Dec 16, 2019Yield to maturity1.821%Jan 2, 2020Yield to maturity1.786%Jan 17, 2020Yield to maturity1.736%Feb 4, 2020Yield to maturity1.513%Feb 20, 2020Yield to maturity1.447%Mar 6, 2020Yield to maturity0.696%Mar 23, 2020Yield to maturity0.652%Apr 7, 2020Yield to maturity0.635%Apr 23, 2020Yield to maturity0.492%May 8, 2020Yield to maturity0.505%May 26, 2020Yield to maturity0.500%Jun 10, 2020Yield to maturity0.510%Jun 25, 2020Yield to maturity0.473%Jul 13, 2020Yield to maturity0.429%Jul 28, 2020Yield to maturity0.386%Aug 12, 2020Yield to maturity0.434%Aug 27, 2020Yield to maturity0.453%Sep 14, 2020Yield to maturity0.383%Sep 29, 2020Yield to maturity0.358%Oct 15, 2020Yield to maturity0.426%Oct 30, 2020Yield to maturity0.525%Nov 17, 2020Yield to maturity0.505%Dec 3, 2020Yield to maturity0.525%Dec 18, 2020Yield to maturity0.504%Jan 6, 2021Yield to maturity0.550%Jan 22, 2021Yield to maturity0.569%Feb 8, 2021Yield to maturity0.612%Feb 24, 2021Yield to maturity0.769%Mar 11, 2021Yield to maturity0.935%Mar 26, 2021Yield to maturity1.015%Apr 12, 2021Yield to maturity1.042%Apr 27, 2021Yield to maturity1.007%May 12, 2021Yield to maturity0.994%May 27, 2021Yield to maturity0.930%Jun 14, 2021Yield to maturity0.881%Jun 29, 2021Yield to maturity0.954%Jul 15, 2021Yield to maturity0.823%Jul 30, 2021Yield to maturity0.743%Aug 16, 2021Yield to maturity0.787%Aug 31, 2021Yield to maturity0.802%Sep 16, 2021Yield to maturity0.864%Oct 1, 2021Yield to maturity0.952%Oct 19, 2021Yield to maturity1.172%Nov 3, 2021Yield to maturity1.191%Nov 19, 2021Yield to maturity1.203%Dec 7, 2021Yield to maturity1.247%Dec 22, 2021Yield to maturity1.234%Jan 7, 2022Yield to maturity1.490%Jan 25, 2022Yield to maturity1.552%Feb 9, 2022Yield to maturity1.800%Feb 25, 2022Yield to maturity1.881%Mar 14, 2022Yield to maturity2.120%Mar 29, 2022Yield to maturity2.554%Apr 13, 2022Yield to maturity2.692%Apr 29, 2022Yield to maturity2.971%May 16, 2022Yield to maturity2.850%Jun 1, 2022Yield to maturity2.973%Jun 16, 2022Yield to maturity3.407%Jul 5, 2022Yield to maturity2.867%Jul 20, 2022Yield to maturity3.242%Aug 4, 2022Yield to maturity2.859%Aug 19, 2022Yield to maturity3.201%Sep 6, 2022Yield to maturity3.521%Sep 21, 2022Yield to maturity3.893%Oct 6, 2022Yield to maturity4.173%Oct 24, 2022Yield to maturity4.476%Nov 8, 2022Yield to maturity4.455%Nov 25, 2022Yield to maturity4.077%Dec 12, 2022Yield to maturity3.970%Dec 28, 2022Yield to maturity4.102%Jan 13, 2023Yield to maturity3.760%Jan 31, 2023Yield to maturity3.797%Feb 15, 2023Yield to maturity4.232%Mar 3, 2023Yield to maturity4.475%Mar 20, 2023Yield to maturity3.745%Apr 4, 2023Yield to maturity3.562%Apr 19, 2023Yield to maturity3.902%May 4, 2023Yield to maturity3.432%May 19, 2023Yield to maturity3.929%Jun 6, 2023Yield to maturity4.085%Jun 22, 2023Yield to maturity4.308%Jul 10, 2023Yield to maturity4.500%Jul 25, 2023Yield to maturity4.466%Aug 9, 2023Yield to maturity4.398%Aug 24, 2023Yield to maturity4.659%Sep 11, 2023Yield to maturity4.654%Sep 26, 2023Yield to maturity4.836%Oct 12, 2023Yield to maturity4.852%Oct 27, 2023Yield to maturity4.859%Nov 13, 2023Yield to maturity4.826%Nov 29, 2023Yield to maturity4.413%Dec 14, 2023Yield to maturity4.111%Jan 2, 2024Yield to maturity4.124%Jan 18, 2024Yield to maturity4.169%Feb 2, 2024Yield to maturity4.192%Feb 20, 2024Yield to maturity4.442%Mar 6, 2024Yield to maturity4.388%Mar 21, 2024Yield to maturity4.491%Apr 5, 2024Yield to maturity4.628%Apr 22, 2024Yield to maturity4.875%May 7, 2024Yield to maturity4.727%May 22, 2024Yield to maturity4.757%Jun 7, 2024Yield to maturity4.768%Jun 25, 2024Yield to maturity4.614%Jul 11, 2024Yield to maturity4.426%Jul 26, 2024Yield to maturity4.339%Aug 12, 2024Yield to maturity3.958%Aug 27, 2024Yield to maturity3.856%Sep 12, 2024Yield to maturity3.630%Sep 27, 2024Yield to maturity3.570%Oct 15, 2024Yield to maturity3.941%Oct 30, 2024Yield to maturity4.161%Nov 15, 2024Yield to maturity4.299%Dec 3, 2024Yield to maturity4.194%Dec 18, 2024Yield to maturity4.382%Jan 6, 2025Yield to maturity4.284%Jan 22, 2025Yield to maturity4.302%Feb 6, 2025Yield to maturity4.222%Feb 24, 2025Yield to maturity4.188%Mar 11, 2025Yield to maturity3.983%Mar 26, 2025Yield to maturity4.073%Apr 10, 2025Yield to maturity3.918%Apr 25, 2025Yield to maturity3.869%May 12, 2025Yield to maturity4.075%May 28, 2025Yield to maturity4.113%Jun 12, 2025Yield to maturity4.032%Jun 30, 2025Yield to maturity3.887%Jul 16, 2025Yield to maturity4.047%Jul 31, 2025Yield to maturity4.111%Aug 15, 2025Yield to maturity3.898%Sep 2, 2025Yield to maturity3.829%Sep 17, 2025Yield to maturity3.667%Oct 2, 2025Yield to maturity3.670%Oct 20, 2025Yield to maturity3.594%Nov 4, 2025Yield to maturity3.720%Nov 20, 2025Yield to maturity3.664%Dec 8, 2025Yield to maturity3.647%Dec 23, 2025Yield to maturity3.578%Jan 9, 2026Yield to maturity3.598%Jan 27, 2026Yield to maturity3.605%Feb 11, 2026Yield to maturity3.607%Feb 27, 2026Yield to maturity3.629%Mar 16, 2026Yield to maturity3.731%Mar 31, 2026Yield to maturity3.794%Apr 15, 2026Yield to maturity3.757%Apr 30, 2026Yield to maturity3.773%May 15, 2026Yield to maturity3.812%Jun 2, 2026Yield to maturity3.768%Jun 17, 2026Yield to maturity3.862%Jul 6, 2026Yield to maturity3.858%Jul 21, 2026Yield to maturity3.892%Aug 5, 2026Yield to maturity3.939%Aug 20, 2026Yield to maturity3.868%Sep 4, 2026Yield to maturity3.849%Sep 9, 2026Yield to maturity3.905%

Price history

2,456 trading days to Sep 9, 2026

9095100105110115Nov 15, 2016Sep 9, 2026Nov 15, 2016Close97.906Dec 1, 2016Close96.094Dec 16, 2016Close94.813Jan 4, 2017Close96.063Jan 20, 2017Close95.906Feb 6, 2017Close96.406Feb 22, 2017Close96.219Mar 9, 2017Close94.844Mar 24, 2017Close96.594Apr 10, 2017Close96.875Apr 26, 2017Close97.313May 11, 2017Close96.656May 26, 2017Close97.875Jun 13, 2017Close98.281Jun 28, 2017Close98.219Jul 14, 2017Close97.406Jul 31, 2017Close97.719Aug 15, 2017Close97.875Aug 30, 2017Close98.906Sep 15, 2017Close98.438Oct 2, 2017Close97.344Oct 18, 2017Close97.375Nov 2, 2017Close97.344Nov 17, 2017Close97.219Dec 5, 2017Close97.125Dec 20, 2017Close96.156Jan 8, 2018Close96.219Jan 24, 2018Close94.969Feb 8, 2018Close93.375Feb 26, 2018Close93.344Mar 13, 2018Close93.531Mar 28, 2018Close94.094Apr 13, 2018Close93.781Apr 30, 2018Close92.875May 15, 2018Close91.938May 31, 2018Close93.750Jun 15, 2018Close93.125Jul 2, 2018Close93.594Jul 18, 2018Close93.594Aug 2, 2018Close92.875Aug 17, 2018Close93.750Sep 4, 2018Close93.594Sep 19, 2018Close92.406Oct 4, 2018Close91.656Oct 22, 2018Close91.750Nov 6, 2018Close91.688Nov 23, 2018Close92.875Dec 11, 2018Close94.000Dec 27, 2018Close94.906Jan 14, 2019Close95.406Jan 30, 2019Close95.594Feb 14, 2019Close95.813Mar 4, 2019Close95.406Mar 19, 2019Close96.219Apr 3, 2019Close96.906Apr 18, 2019Close96.625May 6, 2019Close97.063May 21, 2019Close97.563Jun 6, 2019Close99.781Jun 21, 2019Close100.344Jul 9, 2019Close100.156Jul 24, 2019Close100.406Aug 8, 2019Close102.563Aug 23, 2019Close103.656Sep 10, 2019Close102.313Sep 25, 2019Close102.281Oct 10, 2019Close102.875Oct 28, 2019Close101.688Nov 13, 2019Close101.406Nov 29, 2019Close101.844Dec 16, 2019Close101.156Jan 2, 2020Close101.375Jan 17, 2020Close101.688Feb 4, 2020Close103.125Feb 20, 2020Close103.531Mar 6, 2020Close108.500Mar 23, 2020Close108.750Apr 7, 2020Close108.813Apr 23, 2020Close109.719May 8, 2020Close109.563May 26, 2020Close109.531Jun 10, 2020Close109.406Jun 25, 2020Close109.594Jul 13, 2020Close109.813Jul 28, 2020Close110.031Aug 12, 2020Close109.656Aug 27, 2020Close109.469Sep 14, 2020Close109.844Sep 29, 2020Close109.938Oct 15, 2020Close109.438Oct 30, 2020Close108.750Nov 17, 2020Close108.813Dec 3, 2020Close108.625Dec 18, 2020Close108.688Jan 6, 2021Close108.344Jan 22, 2021Close108.156Feb 8, 2021Close107.844Feb 24, 2021Close106.875Mar 11, 2021Close105.875Mar 26, 2021Close105.375Apr 12, 2021Close105.188Apr 27, 2021Close105.344May 12, 2021Close105.375May 27, 2021Close105.688Jun 14, 2021Close105.906Jun 29, 2021Close105.469Jul 15, 2021Close106.125Jul 30, 2021Close106.500Aug 16, 2021Close106.219Aug 31, 2021Close106.094Sep 16, 2021Close105.719Oct 1, 2021Close105.219Oct 19, 2021Close104.063Nov 3, 2021Close103.938Nov 19, 2021Close103.844Dec 7, 2021Close103.594Dec 22, 2021Close103.625Jan 7, 2022Close102.375Jan 25, 2022Close102.063Feb 9, 2022Close100.906Feb 25, 2022Close100.531Mar 14, 2022Close99.469Mar 29, 2022Close97.594Apr 13, 2022Close97.031Apr 29, 2022Close95.906May 16, 2022Close96.438Jun 1, 2022Close95.969Jun 16, 2022Close94.281Jul 5, 2022Close96.469Jul 20, 2022Close95.031Aug 4, 2022Close96.563Aug 19, 2022Close95.281Sep 6, 2022Close94.125Sep 21, 2022Close92.813Oct 6, 2022Close91.875Oct 24, 2022Close90.906Nov 8, 2022Close91.063Nov 25, 2022Close92.469Dec 12, 2022Close92.906Dec 28, 2022Close92.531Jan 13, 2023Close93.781Jan 31, 2023Close93.719Feb 15, 2023Close92.344Mar 3, 2023Close91.656Mar 20, 2023Close94.094Apr 4, 2023Close94.750Apr 19, 2023Close93.719May 4, 2023Close95.281May 19, 2023Close93.781Jun 6, 2023Close93.375Jun 22, 2023Close92.781Jul 10, 2023Close92.313Jul 25, 2023Close92.500Aug 9, 2023Close92.781Aug 24, 2023Close92.125Sep 11, 2023Close92.250Sep 26, 2023Close91.844Oct 12, 2023Close91.906Oct 27, 2023Close92.000Nov 13, 2023Close92.188Nov 29, 2023Close93.375Dec 14, 2023Close94.250Jan 2, 2024Close94.313Jan 18, 2024Close94.281Feb 2, 2024Close94.313Feb 20, 2024Close93.781Mar 6, 2024Close94.000Mar 21, 2024Close93.844Apr 5, 2024Close93.625Apr 22, 2024Close93.156May 7, 2024Close93.594May 22, 2024Close93.625Jun 7, 2024Close93.719Jun 25, 2024Close94.156Jul 11, 2024Close94.656Jul 26, 2024Close94.938Aug 12, 2024Close95.813Aug 27, 2024Close96.094Sep 12, 2024Close96.625Sep 27, 2024Close96.813Oct 15, 2024Close96.156Oct 30, 2024Close95.813Nov 15, 2024Close95.656Dec 3, 2024Close95.938Dec 18, 2024Close95.688Jan 6, 2025Close95.969Jan 22, 2025Close96.031Feb 6, 2025Close96.250Feb 24, 2025Close96.406Mar 11, 2025Close96.813Mar 26, 2025Close96.750Apr 10, 2025Close97.063Apr 25, 2025Close97.219May 12, 2025Close97.000May 28, 2025Close97.031Jun 12, 2025Close97.219Jun 30, 2025Close97.500Jul 16, 2025Close97.375Jul 31, 2025Close97.375Aug 15, 2025Close97.719Sep 2, 2025Close97.875Sep 17, 2025Close98.125Oct 2, 2025Close98.188Oct 20, 2025Close98.344Nov 4, 2025Close98.281Nov 20, 2025Close98.406Dec 8, 2025Close98.500Dec 23, 2025Close98.625Jan 9, 2026Close98.688Jan 27, 2026Close98.750Feb 11, 2026Close98.813Feb 27, 2026Close98.875Mar 16, 2026Close98.875Mar 31, 2026Close98.906Apr 15, 2026Close99.000Apr 30, 2026Close99.063May 15, 2026Close99.125Jun 2, 2026Close99.219Jun 17, 2026Close99.250Jul 6, 2026Close99.344Jul 21, 2026Close99.406Aug 5, 2026Close99.469Aug 20, 2026Close99.563Sep 4, 2026Close99.656Sep 9, 2026Close99.656
The most recent 20 trading days of prices for 912828U24.
DateBidOfferClose
Sep 9, 2026–99.65699.656
Sep 8, 2026–99.65699.656
Sep 4, 2026–99.65699.656
Sep 3, 2026–99.62599.625
Sep 2, 2026–99.62599.625
Sep 1, 2026–99.59499.594
Aug 31, 2026–99.59499.594
Aug 28, 2026–99.59499.594
Aug 27, 2026–99.59499.594
Aug 26, 2026–99.59499.594
Aug 25, 2026–99.59499.594
Aug 24, 2026–99.59499.594
Aug 21, 2026–99.56399.563
Aug 20, 2026–99.56399.563
Aug 19, 2026–99.56399.563
Aug 18, 2026–99.56399.563
Aug 17, 2026–99.53199.563
Aug 14, 2026–99.56399.563
Aug 13, 2026–99.53199.531
Aug 12, 2026–99.53199.531

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 912828U24.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 9, 2016Nov 15, 2016New issue$23.0bn$28.0bn2.22x2.020%
Dec 12, 2016Dec 15, 2016Reopening$20.0bn$20.0bn2.39x2.485%
Jan 11, 2017Jan 17, 2017Reopening$20.0bn$21.1bn2.58x2.342%

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.