Treasury note

912828YQ7 · 1.625% due October 31, 2026

Original term
7-Year
Maturity
Oct 31, 2026
Coupon
1.625%
Pays
Semi-Annual
Dated
Oct 31, 2019
First coupon
Apr 30, 2020
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$34.73bn
Held stripped
$3.2m
Share stripped
<0.01%

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
3.869%
Modified duration
0.138 yr
DV01
0.0014
Convexity
0.038
Dirty price
100.275

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 3.2 bp rich to the curve on that day, 0.45 cents per 100 of face.

That is -0.60 standard deviations from its own typical residual.

Yield to maturity, 1,716 observations

0%1%2%3%4%5%6%Oct 31, 2019Sep 9, 2026Oct 31, 2019Yield to maturity1.601%Nov 13, 2019Yield to maturity1.793%Nov 25, 2019Yield to maturity1.707%Dec 6, 2019Yield to maturity1.775%Dec 18, 2019Yield to maturity1.854%Dec 31, 2019Yield to maturity1.830%Jan 13, 2020Yield to maturity1.757%Jan 24, 2020Yield to maturity1.605%Feb 5, 2020Yield to maturity1.561%Feb 18, 2020Yield to maturity1.472%Feb 28, 2020Yield to maturity1.022%Mar 11, 2020Yield to maturity0.825%Mar 23, 2020Yield to maturity0.642%Apr 2, 2020Yield to maturity0.535%Apr 15, 2020Yield to maturity0.473%Apr 27, 2020Yield to maturity0.543%May 7, 2020Yield to maturity0.458%May 19, 2020Yield to maturity0.500%Jun 1, 2020Yield to maturity0.461%Jun 11, 2020Yield to maturity0.466%Jun 23, 2020Yield to maturity0.484%Jul 6, 2020Yield to maturity0.454%Jul 16, 2020Yield to maturity0.411%Jul 28, 2020Yield to maturity0.380%Aug 7, 2020Yield to maturity0.345%Aug 19, 2020Yield to maturity0.413%Aug 31, 2020Yield to maturity0.412%Sep 11, 2020Yield to maturity0.370%Sep 23, 2020Yield to maturity0.380%Oct 5, 2020Yield to maturity0.449%Oct 16, 2020Yield to maturity0.432%Oct 28, 2020Yield to maturity0.458%Nov 9, 2020Yield to maturity0.575%Nov 20, 2020Yield to maturity0.491%Dec 3, 2020Yield to maturity0.527%Dec 15, 2020Yield to maturity0.485%Dec 28, 2020Yield to maturity0.483%Jan 8, 2021Yield to maturity0.609%Jan 21, 2021Yield to maturity0.577%Feb 2, 2021Yield to maturity0.572%Feb 12, 2021Yield to maturity0.619%Feb 25, 2021Yield to maturity0.967%Mar 9, 2021Yield to maturity0.974%Mar 19, 2021Yield to maturity1.061%Mar 31, 2021Yield to maturity1.087%Apr 12, 2021Yield to maturity1.038%Apr 22, 2021Yield to maturity0.938%May 4, 2021Yield to maturity0.945%May 14, 2021Yield to maturity0.942%May 26, 2021Yield to maturity0.898%Jun 8, 2021Yield to maturity0.858%Jun 18, 2021Yield to maturity0.948%Jun 30, 2021Yield to maturity0.926%Jul 13, 2021Yield to maturity0.886%Jul 23, 2021Yield to maturity0.763%Aug 4, 2021Yield to maturity0.700%Aug 16, 2021Yield to maturity0.784%Aug 26, 2021Yield to maturity0.864%Sep 8, 2021Yield to maturity0.829%Sep 20, 2021Yield to maturity0.842%Sep 30, 2021Yield to maturity0.999%Oct 13, 2021Yield to maturity1.089%Oct 25, 2021Yield to maturity1.174%Nov 4, 2021Yield to maturity1.083%Nov 17, 2021Yield to maturity1.220%Nov 30, 2021Yield to maturity1.120%Dec 10, 2021Yield to maturity1.241%Dec 22, 2021Yield to maturity1.232%Jan 4, 2022Yield to maturity1.356%Jan 14, 2022Yield to maturity1.536%Jan 27, 2022Yield to maturity1.639%Feb 8, 2022Yield to maturity1.791%Feb 18, 2022Yield to maturity1.820%Mar 3, 2022Yield to maturity1.758%Mar 15, 2022Yield to maturity2.124%Mar 25, 2022Yield to maturity2.583%Apr 6, 2022Yield to maturity2.739%Apr 19, 2022Yield to maturity2.931%Apr 29, 2022Yield to maturity2.956%May 11, 2022Yield to maturity2.909%May 23, 2022Yield to maturity2.903%Jun 3, 2022Yield to maturity2.975%Jun 15, 2022Yield to maturity3.424%Jun 28, 2022Yield to maturity3.284%Jul 11, 2022Yield to maturity3.086%Jul 21, 2022Yield to maturity3.046%Aug 2, 2022Yield to maturity2.926%Aug 12, 2022Yield to maturity3.059%Aug 24, 2022Yield to maturity3.318%Sep 6, 2022Yield to maturity3.510%Sep 16, 2022Yield to maturity3.732%Sep 28, 2022Yield to maturity4.027%Oct 11, 2022Yield to maturity4.262%Oct 21, 2022Yield to maturity4.456%Nov 2, 2022Yield to maturity4.438%Nov 15, 2022Yield to maturity4.068%Nov 28, 2022Yield to maturity4.080%Dec 8, 2022Yield to maturity3.867%Dec 20, 2022Yield to maturity3.913%Jan 3, 2023Yield to maturity4.067%Jan 13, 2023Yield to maturity3.760%Jan 26, 2023Yield to maturity3.757%Feb 7, 2023Yield to maturity4.004%Feb 17, 2023Yield to maturity4.201%Mar 2, 2023Yield to maturity4.516%Mar 14, 2023Yield to maturity3.978%Mar 24, 2023Yield to maturity3.587%Apr 5, 2023Yield to maturity3.524%Apr 17, 2023Yield to maturity3.869%Apr 27, 2023Yield to maturity3.766%May 9, 2023Yield to maturity3.654%May 19, 2023Yield to maturity3.928%Jun 1, 2023Yield to maturity3.927%Jun 13, 2023Yield to maturity4.252%Jun 26, 2023Yield to maturity4.237%Jul 7, 2023Yield to maturity4.599%Jul 19, 2023Yield to maturity4.275%Jul 31, 2023Yield to maturity4.465%Aug 10, 2023Yield to maturity4.455%Aug 22, 2023Yield to maturity4.731%Sep 1, 2023Yield to maturity4.549%Sep 14, 2023Yield to maturity4.689%Sep 26, 2023Yield to maturity4.849%Oct 6, 2023Yield to maturity4.897%Oct 19, 2023Yield to maturity5.033%Oct 31, 2023Yield to maturity4.902%Nov 10, 2023Yield to maturity4.840%Nov 22, 2023Yield to maturity4.642%Dec 5, 2023Yield to maturity4.346%Dec 15, 2023Yield to maturity4.181%Dec 28, 2023Yield to maturity4.048%Jan 10, 2024Yield to maturity4.166%Jan 23, 2024Yield to maturity4.198%Feb 2, 2024Yield to maturity4.203%Feb 14, 2024Yield to maturity4.435%Feb 27, 2024Yield to maturity4.551%Mar 8, 2024Yield to maturity4.322%Mar 20, 2024Yield to maturity4.470%Apr 1, 2024Yield to maturity4.588%Apr 11, 2024Yield to maturity4.854%Apr 23, 2024Yield to maturity4.840%May 3, 2024Yield to maturity4.712%May 15, 2024Yield to maturity4.617%May 28, 2024Yield to maturity4.862%Jun 7, 2024Yield to maturity4.774%Jun 20, 2024Yield to maturity4.606%Jul 2, 2024Yield to maturity4.677%Jul 15, 2024Yield to maturity4.376%Jul 25, 2024Yield to maturity4.409%Aug 6, 2024Yield to maturity3.958%Aug 16, 2024Yield to maturity4.023%Aug 28, 2024Yield to maturity3.865%Sep 10, 2024Yield to maturity3.586%Sep 20, 2024Yield to maturity3.569%Oct 2, 2024Yield to maturity3.642%Oct 15, 2024Yield to maturity3.958%Oct 25, 2024Yield to maturity4.114%Nov 6, 2024Yield to maturity4.268%Nov 19, 2024Yield to maturity4.263%Dec 2, 2024Yield to maturity4.206%Dec 12, 2024Yield to maturity4.207%Dec 24, 2024Yield to maturity4.348%Jan 7, 2025Yield to maturity4.290%Jan 17, 2025Yield to maturity4.286%Jan 30, 2025Yield to maturity4.212%Feb 11, 2025Yield to maturity4.301%Feb 24, 2025Yield to maturity4.197%Mar 6, 2025Yield to maturity3.996%Mar 18, 2025Yield to maturity4.086%Mar 28, 2025Yield to maturity3.969%Apr 9, 2025Yield to maturity4.010%Apr 21, 2025Yield to maturity3.843%May 1, 2025Yield to maturity3.818%May 13, 2025Yield to maturity4.093%May 23, 2025Yield to maturity4.084%Jun 5, 2025Yield to maturity4.036%Jun 17, 2025Yield to maturity4.069%Jun 30, 2025Yield to maturity3.884%Jul 11, 2025Yield to maturity4.047%Jul 23, 2025Yield to maturity4.047%Aug 4, 2025Yield to maturity3.870%Aug 14, 2025Yield to maturity3.893%Aug 26, 2025Yield to maturity3.844%Sep 8, 2025Yield to maturity3.683%Sep 18, 2025Yield to maturity3.704%Sep 30, 2025Yield to maturity3.706%Oct 10, 2025Yield to maturity3.652%Oct 23, 2025Yield to maturity3.642%Nov 4, 2025Yield to maturity3.709%Nov 17, 2025Yield to maturity3.718%Nov 28, 2025Yield to maturity3.693%Dec 10, 2025Yield to maturity3.647%Dec 22, 2025Yield to maturity3.573%Jan 5, 2026Yield to maturity3.586%Jan 15, 2026Yield to maturity3.654%Jan 28, 2026Yield to maturity3.665%Feb 9, 2026Yield to maturity3.624%Feb 20, 2026Yield to maturity3.634%Mar 4, 2026Yield to maturity3.719%Mar 16, 2026Yield to maturity3.727%Mar 26, 2026Yield to maturity3.880%Apr 7, 2026Yield to maturity3.784%Apr 17, 2026Yield to maturity3.737%Apr 29, 2026Yield to maturity3.790%May 11, 2026Yield to maturity3.801%May 21, 2026Yield to maturity3.859%Jun 3, 2026Yield to maturity3.814%Jun 15, 2026Yield to maturity3.831%Jun 26, 2026Yield to maturity3.870%Jul 9, 2026Yield to maturity3.878%Jul 21, 2026Yield to maturity3.912%Jul 31, 2026Yield to maturity3.957%Aug 12, 2026Yield to maturity3.956%Aug 24, 2026Yield to maturity3.852%Sep 3, 2026Yield to maturity3.836%Sep 9, 2026Yield to maturity3.869%

Price history

1,716 trading days to Sep 9, 2026

859095100105110Oct 31, 2019Sep 9, 2026Oct 31, 2019Close100.156Nov 13, 2019Close98.906Nov 25, 2019Close99.469Dec 6, 2019Close99.031Dec 18, 2019Close98.531Dec 31, 2019Close98.688Jan 13, 2020Close99.156Jan 24, 2020Close100.125Feb 5, 2020Close100.406Feb 18, 2020Close100.969Feb 28, 2020Close103.875Mar 11, 2020Close105.156Mar 23, 2020Close106.344Apr 2, 2020Close107.031Apr 15, 2020Close107.406Apr 27, 2020Close106.906May 7, 2020Close107.438May 19, 2020Close107.125Jun 1, 2020Close107.344Jun 11, 2020Close107.281Jun 23, 2020Close107.125Jul 6, 2020Close107.281Jul 16, 2020Close107.531Jul 28, 2020Close107.688Aug 7, 2020Close107.875Aug 19, 2020Close107.406Aug 31, 2020Close107.375Sep 11, 2020Close107.594Sep 23, 2020Close107.500Oct 5, 2020Close107.031Oct 16, 2020Close107.094Oct 28, 2020Close106.906Nov 9, 2020Close106.156Nov 20, 2020Close106.625Dec 3, 2020Close106.375Dec 15, 2020Close106.594Dec 28, 2020Close106.563Jan 8, 2021Close105.781Jan 21, 2021Close105.938Feb 2, 2021Close105.938Feb 12, 2021Close105.625Feb 25, 2021Close103.625Mar 9, 2021Close103.563Mar 19, 2021Close103.063Mar 31, 2021Close102.906Apr 12, 2021Close103.156Apr 22, 2021Close103.688May 4, 2021Close103.625May 14, 2021Close103.625May 26, 2021Close103.844Jun 8, 2021Close104.031Jun 18, 2021Close103.531Jun 30, 2021Close103.625Jul 13, 2021Close103.813Jul 23, 2021Close104.438Aug 4, 2021Close104.750Aug 16, 2021Close104.281Aug 26, 2021Close103.844Sep 8, 2021Close104.000Sep 20, 2021Close103.906Sep 30, 2021Close103.094Oct 13, 2021Close102.625Oct 25, 2021Close102.188Nov 4, 2021Close102.625Nov 17, 2021Close101.938Nov 30, 2021Close102.406Dec 10, 2021Close101.813Dec 22, 2021Close101.844Jan 4, 2022Close101.250Jan 14, 2022Close100.406Jan 27, 2022Close99.938Feb 8, 2022Close99.250Feb 18, 2022Close99.125Mar 3, 2022Close99.406Mar 15, 2022Close97.813Mar 25, 2022Close95.875Apr 6, 2022Close95.250Apr 19, 2022Close94.500Apr 29, 2022Close94.438May 11, 2022Close94.656May 23, 2022Close94.719Jun 3, 2022Close94.469Jun 15, 2022Close92.750Jun 28, 2022Close93.344Jul 11, 2022Close94.156Jul 21, 2022Close94.344Aug 2, 2022Close94.844Aug 12, 2022Close94.375Aug 24, 2022Close93.438Sep 6, 2022Close92.781Sep 16, 2022Close92.031Sep 28, 2022Close91.031Oct 11, 2022Close90.281Oct 21, 2022Close89.688Nov 2, 2022Close89.813Nov 15, 2022Close91.156Nov 28, 2022Close91.188Dec 8, 2022Close91.969Dec 20, 2022Close91.875Jan 3, 2023Close91.438Jan 13, 2023Close92.531Jan 26, 2023Close92.594Feb 7, 2023Close91.844Feb 17, 2023Close91.281Mar 2, 2023Close90.344Mar 14, 2023Close92.125Mar 24, 2023Close93.438Apr 5, 2023Close93.688Apr 17, 2023Close92.656Apr 27, 2023Close93.031May 9, 2023Close93.438May 19, 2023Close92.656Jun 1, 2023Close92.719Jun 13, 2023Close91.813Jun 26, 2023Close91.938Jul 7, 2023Close90.969Jul 19, 2023Close91.969Jul 31, 2023Close91.500Aug 10, 2023Close91.594Aug 22, 2023Close90.906Sep 1, 2023Close91.500Sep 14, 2023Close91.188Sep 26, 2023Close90.844Oct 6, 2023Close90.813Oct 19, 2023Close90.531Oct 31, 2023Close90.969Nov 10, 2023Close91.219Nov 22, 2023Close91.813Dec 5, 2023Close92.656Dec 15, 2023Close93.156Dec 28, 2023Close93.563Jan 10, 2024Close93.344Jan 23, 2024Close93.344Feb 2, 2024Close93.406Feb 14, 2024Close92.906Feb 27, 2024Close92.719Mar 8, 2024Close93.344Mar 20, 2024Close93.063Apr 1, 2024Close92.875Apr 11, 2024Close92.344Apr 23, 2024Close92.469May 3, 2024Close92.844May 15, 2024Close93.125May 28, 2024Close92.688Jun 7, 2024Close92.969Jun 20, 2024Close93.406Jul 2, 2024Close93.344Jul 15, 2024Close94.063Jul 25, 2024Close94.063Aug 6, 2024Close95.063Aug 16, 2024Close95.000Aug 28, 2024Close95.375Sep 10, 2024Close96.000Sep 20, 2024Close96.094Oct 2, 2024Close96.000Oct 15, 2024Close95.469Oct 25, 2024Close95.250Nov 6, 2024Close95.031Nov 19, 2024Close95.125Dec 2, 2024Close95.313Dec 12, 2024Close95.375Dec 24, 2024Close95.219Jan 7, 2025Close95.406Jan 17, 2025Close95.500Jan 30, 2025Close95.688Feb 11, 2025Close95.625Feb 24, 2025Close95.875Mar 6, 2025Close96.250Mar 18, 2025Close96.188Mar 28, 2025Close96.438Apr 9, 2025Close96.438Apr 21, 2025Close96.750May 1, 2025Close96.844May 13, 2025Close96.531May 23, 2025Close96.625Jun 5, 2025Close96.750Jun 17, 2025Close96.781Jun 30, 2025Close97.094Jul 11, 2025Close96.969Jul 23, 2025Close97.031Aug 4, 2025Close97.313Aug 14, 2025Close97.344Aug 26, 2025Close97.469Sep 8, 2025Close97.719Sep 18, 2025Close97.750Sep 30, 2025Close97.813Oct 10, 2025Close97.938Oct 23, 2025Close98.000Nov 4, 2025Close98.000Nov 17, 2025Close98.063Nov 28, 2025Close98.156Dec 10, 2025Close98.250Dec 22, 2025Close98.375Jan 5, 2026Close98.438Jan 15, 2026Close98.438Jan 28, 2026Close98.500Feb 9, 2026Close98.594Feb 20, 2026Close98.656Mar 4, 2026Close98.656Mar 16, 2026Close98.719Mar 26, 2026Close98.688Apr 7, 2026Close98.813Apr 17, 2026Close98.906Apr 29, 2026Close98.938May 11, 2026Close99.000May 21, 2026Close99.031Jun 3, 2026Close99.125Jun 15, 2026Close99.188Jun 26, 2026Close99.250Jul 9, 2026Close99.313Jul 21, 2026Close99.375Jul 31, 2026Close99.438Aug 12, 2026Close99.500Aug 24, 2026Close99.594Sep 3, 2026Close99.656Sep 9, 2026Close99.688
The most recent 20 trading days of prices for 912828YQ7.
DateBidOfferClose
Sep 9, 2026–99.65699.688
Sep 8, 2026–99.68899.656
Sep 4, 2026–99.65699.656
Sep 3, 2026–99.62599.656
Sep 2, 2026–99.62599.625
Sep 1, 2026–99.62599.625
Aug 31, 2026–99.62599.625
Aug 28, 2026–99.62599.625
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, 2026–99.59499.594
Aug 20, 2026–99.56399.563
Aug 19, 2026–99.56399.563
Aug 18, 2026–99.56399.563
Aug 17, 2026–99.56399.531
Aug 14, 2026–99.53199.531
Aug 13, 2026–99.53199.531
Aug 12, 2026–99.50099.500

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.

Auction

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 912828YQ7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 24, 2019Oct 31, 2019New issue$32.0bn$35.3bn2.46x1.657%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.