Treasury note

912828YU8 · 1.625% due November 30, 2026

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

Statement of August 31, 2026

Amount outstanding
$32.63bn
Held stripped
$153.6m
Share stripped
0.47%

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
3.886%
Modified duration
0.219 yr
DV01
0.0022
Convexity
0.096
Dirty price
99.953

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 4.2 bp rich to the curve on that day, 0.92 cents per 100 of face.

That is -0.21 standard deviations from its own typical residual.

Yield to maturity, 1,696 observations

0%1%2%3%4%5%6%Dec 2, 2019Sep 9, 2026Dec 2, 2019Yield to maturity1.768%Dec 12, 2019Yield to maturity1.836%Dec 24, 2019Yield to maturity1.827%Jan 7, 2020Yield to maturity1.736%Jan 17, 2020Yield to maturity1.741%Jan 30, 2020Yield to maturity1.480%Feb 11, 2020Yield to maturity1.494%Feb 24, 2020Yield to maturity1.300%Mar 5, 2020Yield to maturity0.808%Mar 17, 2020Yield to maturity0.940%Mar 27, 2020Yield to maturity0.591%Apr 8, 2020Yield to maturity0.643%Apr 21, 2020Yield to maturity0.466%May 1, 2020Yield to maturity0.507%May 13, 2020Yield to maturity0.470%May 26, 2020Yield to maturity0.502%Jun 5, 2020Yield to maturity0.667%Jun 17, 2020Yield to maturity0.506%Jun 29, 2020Yield to maturity0.429%Jul 10, 2020Yield to maturity0.442%Jul 22, 2020Yield to maturity0.404%Aug 3, 2020Yield to maturity0.349%Aug 13, 2020Yield to maturity0.460%Aug 25, 2020Yield to maturity0.425%Sep 4, 2020Yield to maturity0.429%Sep 17, 2020Yield to maturity0.394%Sep 29, 2020Yield to maturity0.363%Oct 9, 2020Yield to maturity0.466%Oct 22, 2020Yield to maturity0.516%Nov 3, 2020Yield to maturity0.540%Nov 16, 2020Yield to maturity0.545%Nov 27, 2020Yield to maturity0.492%Dec 9, 2020Yield to maturity0.534%Dec 21, 2020Yield to maturity0.512%Jan 4, 2021Yield to maturity0.474%Jan 14, 2021Yield to maturity0.632%Jan 27, 2021Yield to maturity0.536%Feb 8, 2021Yield to maturity0.626%Feb 19, 2021Yield to maturity0.749%Mar 3, 2021Yield to maturity0.892%Mar 15, 2021Yield to maturity1.009%Mar 25, 2021Yield to maturity0.990%Apr 6, 2021Yield to maturity1.042%Apr 16, 2021Yield to maturity0.983%Apr 28, 2021Yield to maturity1.002%May 10, 2021Yield to maturity0.931%May 20, 2021Yield to maturity0.950%Jun 2, 2021Yield to maturity0.912%Jun 14, 2021Yield to maturity0.890%Jun 24, 2021Yield to maturity0.974%Jul 7, 2021Yield to maturity0.841%Jul 19, 2021Yield to maturity0.738%Jul 29, 2021Yield to maturity0.780%Aug 10, 2021Yield to maturity0.864%Aug 20, 2021Yield to maturity0.829%Sep 1, 2021Yield to maturity0.814%Sep 14, 2021Yield to maturity0.814%Sep 24, 2021Yield to maturity0.991%Oct 6, 2021Yield to maturity1.013%Oct 19, 2021Yield to maturity1.176%Oct 29, 2021Yield to maturity1.180%Nov 10, 2021Yield to maturity1.222%Nov 23, 2021Yield to maturity1.309%Dec 6, 2021Yield to maturity1.191%Dec 16, 2021Yield to maturity1.195%Dec 29, 2021Yield to maturity1.289%Jan 10, 2022Yield to maturity1.525%Jan 21, 2022Yield to maturity1.524%Feb 2, 2022Yield to maturity1.584%Feb 14, 2022Yield to maturity1.906%Feb 25, 2022Yield to maturity1.880%Mar 9, 2022Yield to maturity1.882%Mar 21, 2022Yield to maturity2.361%Mar 31, 2022Yield to maturity2.452%Apr 12, 2022Yield to maturity2.679%Apr 25, 2022Yield to maturity2.867%May 5, 2022Yield to maturity3.019%May 17, 2022Yield to maturity2.967%May 27, 2022Yield to maturity2.732%Jun 9, 2022Yield to maturity3.087%Jun 22, 2022Yield to maturity3.264%Jul 5, 2022Yield to maturity2.849%Jul 15, 2022Yield to maturity3.104%Jul 27, 2022Yield to maturity2.873%Aug 8, 2022Yield to maturity2.987%Aug 18, 2022Yield to maturity3.092%Aug 30, 2022Yield to maturity3.359%Sep 12, 2022Yield to maturity3.532%Sep 22, 2022Yield to maturity4.015%Oct 4, 2022Yield to maturity3.946%Oct 17, 2022Yield to maturity4.354%Oct 27, 2022Yield to maturity4.193%Nov 8, 2022Yield to maturity4.430%Nov 21, 2022Yield to maturity4.155%Dec 2, 2022Yield to maturity3.834%Dec 14, 2022Yield to maturity3.777%Dec 27, 2022Yield to maturity4.032%Jan 9, 2023Yield to maturity3.778%Jan 20, 2023Yield to maturity3.678%Feb 1, 2023Yield to maturity3.600%Feb 13, 2023Yield to maturity4.066%Feb 24, 2023Yield to maturity4.377%Mar 8, 2023Yield to maturity4.572%Mar 20, 2023Yield to maturity3.734%Mar 30, 2023Yield to maturity3.827%Apr 11, 2023Yield to maturity3.710%Apr 21, 2023Yield to maturity3.817%May 3, 2023Yield to maturity3.500%May 15, 2023Yield to maturity3.606%May 25, 2023Yield to maturity4.123%Jun 7, 2023Yield to maturity4.138%Jun 20, 2023Yield to maturity4.214%Jun 30, 2023Yield to maturity4.417%Jul 13, 2023Yield to maturity4.167%Jul 25, 2023Yield to maturity4.457%Aug 4, 2023Yield to maturity4.398%Aug 16, 2023Yield to maturity4.639%Aug 28, 2023Yield to maturity4.636%Sep 8, 2023Yield to maturity4.635%Sep 20, 2023Yield to maturity4.795%Oct 2, 2023Yield to maturity4.885%Oct 13, 2023Yield to maturity4.817%Oct 25, 2023Yield to maturity4.974%Nov 6, 2023Yield to maturity4.727%Nov 16, 2023Yield to maturity4.601%Nov 29, 2023Yield to maturity4.388%Dec 11, 2023Yield to maturity4.453%Dec 21, 2023Yield to maturity4.085%Jan 4, 2024Yield to maturity4.164%Jan 17, 2024Yield to maturity4.147%Jan 29, 2024Yield to maturity4.114%Feb 8, 2024Yield to maturity4.274%Feb 21, 2024Yield to maturity4.472%Mar 4, 2024Yield to maturity4.429%Mar 14, 2024Yield to maturity4.521%Mar 26, 2024Yield to maturity4.464%Apr 5, 2024Yield to maturity4.605%Apr 17, 2024Yield to maturity4.824%Apr 29, 2024Yield to maturity4.878%May 9, 2024Yield to maturity4.706%May 21, 2024Yield to maturity4.704%Jun 3, 2024Yield to maturity4.705%Jun 13, 2024Yield to maturity4.554%Jun 26, 2024Yield to maturity4.654%Jul 9, 2024Yield to maturity4.538%Jul 19, 2024Yield to maturity4.416%Jul 31, 2024Yield to maturity4.241%Aug 12, 2024Yield to maturity3.965%Aug 22, 2024Yield to maturity3.948%Sep 4, 2024Yield to maturity3.742%Sep 16, 2024Yield to maturity3.528%Sep 26, 2024Yield to maturity3.629%Oct 8, 2024Yield to maturity3.959%Oct 21, 2024Yield to maturity4.014%Oct 31, 2024Yield to maturity4.160%Nov 13, 2024Yield to maturity4.270%Nov 25, 2024Yield to maturity4.262%Dec 6, 2024Yield to maturity4.120%Dec 18, 2024Yield to maturity4.364%Dec 31, 2024Yield to maturity4.258%Jan 13, 2025Yield to maturity4.412%Jan 24, 2025Yield to maturity4.282%Feb 5, 2025Yield to maturity4.191%Feb 18, 2025Yield to maturity4.299%Feb 28, 2025Yield to maturity4.021%Mar 12, 2025Yield to maturity4.020%Mar 24, 2025Yield to maturity4.047%Apr 3, 2025Yield to maturity3.784%Apr 15, 2025Yield to maturity3.910%Apr 25, 2025Yield to maturity3.852%May 7, 2025Yield to maturity3.870%May 19, 2025Yield to maturity4.049%May 30, 2025Yield to maturity4.018%Jun 11, 2025Yield to maturity4.039%Jun 24, 2025Yield to maturity3.913%Jul 7, 2025Yield to maturity4.018%Jul 17, 2025Yield to maturity4.041%Jul 29, 2025Yield to maturity4.000%Aug 8, 2025Yield to maturity3.857%Aug 20, 2025Yield to maturity3.853%Sep 2, 2025Yield to maturity3.810%Sep 12, 2025Yield to maturity3.679%Sep 24, 2025Yield to maturity3.726%Oct 6, 2025Yield to maturity3.672%Oct 17, 2025Yield to maturity3.561%Oct 29, 2025Yield to maturity3.700%Nov 10, 2025Yield to maturity3.677%Nov 21, 2025Yield to maturity3.647%Dec 4, 2025Yield to maturity3.643%Dec 16, 2025Yield to maturity3.541%Dec 29, 2025Yield to maturity3.544%Jan 9, 2026Yield to maturity3.585%Jan 22, 2026Yield to maturity3.616%Feb 3, 2026Yield to maturity3.616%Feb 13, 2026Yield to maturity3.541%Feb 26, 2026Yield to maturity3.611%Mar 10, 2026Yield to maturity3.656%Mar 20, 2026Yield to maturity3.847%Apr 1, 2026Yield to maturity3.744%Apr 13, 2026Yield to maturity3.753%Apr 23, 2026Yield to maturity3.743%May 5, 2026Yield to maturity3.753%May 15, 2026Yield to maturity3.765%May 28, 2026Yield to maturity3.767%Jun 9, 2026Yield to maturity3.845%Jun 22, 2026Yield to maturity3.948%Jul 2, 2026Yield to maturity3.911%Jul 15, 2026Yield to maturity3.904%Jul 27, 2026Yield to maturity4.026%Aug 6, 2026Yield to maturity3.929%Aug 18, 2026Yield to maturity3.856%Aug 28, 2026Yield to maturity3.893%Sep 9, 2026Yield to maturity3.886%

Price history

1,696 trading days to Sep 9, 2026

859095100105110Dec 2, 2019Sep 9, 2026Dec 2, 2019Close99.063Dec 12, 2019Close98.625Dec 24, 2019Close98.688Jan 7, 2020Close99.281Jan 17, 2020Close99.250Jan 30, 2020Close100.938Feb 11, 2020Close100.844Feb 24, 2020Close102.094Mar 5, 2020Close105.344Mar 17, 2020Close104.438Mar 27, 2020Close106.750Apr 8, 2020Close106.375Apr 21, 2020Close107.531May 1, 2020Close107.219May 13, 2020Close107.438May 26, 2020Close107.188Jun 5, 2020Close106.063Jun 17, 2020Close107.094Jun 29, 2020Close107.563Jul 10, 2020Close107.438Jul 22, 2020Close107.656Aug 3, 2020Close107.969Aug 13, 2020Close107.219Aug 25, 2020Close107.406Sep 4, 2020Close107.344Sep 17, 2020Close107.531Sep 29, 2020Close107.688Oct 9, 2020Close107.000Oct 22, 2020Close106.656Nov 3, 2020Close106.469Nov 16, 2020Close106.406Nov 27, 2020Close106.688Dec 9, 2020Close106.406Dec 21, 2020Close106.500Jan 4, 2021Close106.688Jan 14, 2021Close105.719Jan 27, 2021Close106.250Feb 8, 2021Close105.688Feb 19, 2021Close104.938Mar 3, 2021Close104.094Mar 15, 2021Close103.406Mar 25, 2021Close103.500Apr 6, 2021Close103.188Apr 16, 2021Close103.500Apr 28, 2021Close103.375May 10, 2021Close103.750May 20, 2021Close103.625Jun 2, 2021Close103.813Jun 14, 2021Close103.906Jun 24, 2021Close103.438Jul 7, 2021Close104.125Jul 19, 2021Close104.656Jul 29, 2021Close104.406Aug 10, 2021Close103.938Aug 20, 2021Close104.094Sep 1, 2021Close104.156Sep 14, 2021Close104.125Sep 24, 2021Close103.188Oct 6, 2021Close103.063Oct 19, 2021Close102.219Oct 29, 2021Close102.188Nov 10, 2021Close101.969Nov 23, 2021Close101.531Dec 6, 2021Close102.094Dec 16, 2021Close102.063Dec 29, 2021Close101.594Jan 10, 2022Close100.469Jan 21, 2022Close100.469Feb 2, 2022Close100.188Feb 14, 2022Close98.719Feb 25, 2022Close98.844Mar 9, 2022Close98.844Mar 21, 2022Close96.750Mar 31, 2022Close96.375Apr 12, 2022Close95.438Apr 25, 2022Close94.688May 5, 2022Close94.094May 17, 2022Close94.344May 27, 2022Close95.344Jun 9, 2022Close93.938Jun 22, 2022Close93.281Jul 5, 2022Close94.969Jul 15, 2022Close94.000Jul 27, 2022Close94.938Aug 8, 2022Close94.531Aug 18, 2022Close94.156Aug 30, 2022Close93.188Sep 12, 2022Close92.594Sep 22, 2022Close90.875Oct 4, 2022Close91.188Oct 17, 2022Close89.813Oct 27, 2022Close90.438Nov 8, 2022Close89.688Nov 21, 2022Close90.719Dec 2, 2022Close91.906Dec 14, 2022Close92.156Dec 27, 2022Close91.344Jan 9, 2023Close92.281Jan 20, 2023Close92.688Feb 1, 2023Close93.000Feb 13, 2023Close91.500Feb 24, 2023Close90.563Mar 8, 2023Close90.000Mar 20, 2023Close92.781Mar 30, 2023Close92.531Apr 11, 2023Close92.969Apr 21, 2023Close92.688May 3, 2023Close93.750May 15, 2023Close93.469May 25, 2023Close91.906Jun 7, 2023Close91.938Jun 20, 2023Close91.781Jun 30, 2023Close91.250Jul 13, 2023Close92.063Jul 25, 2023Close91.281Aug 4, 2023Close91.531Aug 16, 2023Close90.906Aug 28, 2023Close91.000Sep 8, 2023Close91.094Sep 20, 2023Close90.719Oct 2, 2023Close90.563Oct 13, 2023Close90.844Oct 25, 2023Close90.500Nov 6, 2023Close91.250Nov 16, 2023Close91.656Nov 29, 2023Close92.313Dec 11, 2023Close92.219Dec 21, 2023Close93.250Jan 4, 2024Close93.125Jan 17, 2024Close93.250Jan 29, 2024Close93.406Feb 8, 2024Close93.063Feb 21, 2024Close92.656Mar 4, 2024Close92.844Mar 14, 2024Close92.688Mar 26, 2024Close92.906Apr 5, 2024Close92.656Apr 17, 2024Close92.219Apr 29, 2024Close92.188May 9, 2024Close92.656May 21, 2024Close92.750Jun 3, 2024Close92.844Jun 13, 2024Close93.250Jun 26, 2024Close93.125Jul 9, 2024Close93.469Jul 19, 2024Close93.813Jul 31, 2024Close94.250Aug 12, 2024Close94.906Aug 22, 2024Close95.000Sep 4, 2024Close95.500Sep 16, 2024Close96.000Sep 26, 2024Close95.844Oct 8, 2024Close95.250Oct 21, 2024Close95.219Oct 31, 2024Close95.000Nov 13, 2024Close94.875Nov 25, 2024Close94.969Dec 6, 2024Close95.313Dec 18, 2024Close94.938Dec 31, 2024Close95.219Jan 13, 2025Close95.031Jan 24, 2025Close95.344Feb 5, 2025Close95.563Feb 18, 2025Close95.469Feb 28, 2025Close96.000Mar 12, 2025Close96.063Mar 24, 2025Close96.094Apr 3, 2025Close96.563Apr 15, 2025Close96.438Apr 25, 2025Close96.594May 7, 2025Close96.625May 19, 2025Close96.438May 30, 2025Close96.563Jun 11, 2025Close96.594Jun 24, 2025Close96.844Jul 7, 2025Close96.781Jul 17, 2025Close96.813Jul 29, 2025Close96.938Aug 8, 2025Close97.188Aug 20, 2025Close97.250Sep 2, 2025Close97.375Sep 12, 2025Close97.594Sep 24, 2025Close97.594Oct 6, 2025Close97.719Oct 17, 2025Close97.906Oct 29, 2025Close97.813Nov 10, 2025Close97.906Nov 21, 2025Close98.000Dec 4, 2025Close98.063Dec 16, 2025Close98.219Dec 29, 2025Close98.281Jan 9, 2026Close98.313Jan 22, 2026Close98.344Feb 3, 2026Close98.406Feb 13, 2026Close98.531Feb 26, 2026Close98.531Mar 10, 2026Close98.563Mar 20, 2026Close98.500Apr 1, 2026Close98.625Apr 13, 2026Close98.688Apr 23, 2026Close98.750May 5, 2026Close98.813May 15, 2026Close98.875May 28, 2026Close98.938Jun 9, 2026Close98.969Jun 22, 2026Close99.000Jul 2, 2026Close99.094Jul 15, 2026Close99.156Jul 27, 2026Close99.188Aug 6, 2026Close99.281Aug 18, 2026Close99.375Aug 28, 2026Close99.438Sep 9, 2026Close99.500
The most recent 20 trading days of prices for 912828YU8.
DateBidOfferClose
Sep 9, 2026–99.50099.500
Sep 8, 2026–99.50099.500
Sep 4, 2026–99.50099.500
Sep 3, 2026–99.46999.469
Sep 2, 2026–99.46999.469
Sep 1, 2026–99.43899.438
Aug 31, 2026–99.43899.438
Aug 28, 2026–99.43899.438
Aug 27, 2026–99.43899.438
Aug 26, 2026–99.43899.438
Aug 25, 2026–99.43899.438
Aug 24, 2026–99.43899.438
Aug 21, 2026–99.40699.406
Aug 20, 2026–99.40699.406
Aug 19, 2026–99.37599.375
Aug 18, 2026–99.37599.375
Aug 17, 2026–99.37599.375
Aug 14, 2026–99.37599.375
Aug 13, 2026–99.34499.344
Aug 12, 2026–99.34499.344

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 912828YU8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 27, 2019Dec 2, 2019New issue$32.0bn$34.5bn2.44x1.719%

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.