Treasury note

91282CAY7 · 0.625% due November 30, 2027

Original term
7-Year
Maturity
Nov 30, 2027
Coupon
0.625%
Pays
Semi-Annual
Dated
Nov 30, 2020
First coupon
May 31, 2021
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$63.16bn
Held stripped
$33.9m
Share stripped
0.05%

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
4.314%
Modified duration
1.191 yr
DV01
0.0114
Convexity
2.005
Dirty price
95.830

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 1.217 years against a modified duration of 1.191.

Against the fitted curve

Priced 1.4 bp cheap to the curve on that day, 1.62 cents per 100 of face.

That is 0.72 standard deviations from its own typical residual.

Yield to maturity, 1,447 observations

0%1%2%3%4%5%Nov 30, 2020Sep 9, 2026Nov 30, 2020Yield to maturity0.616%Dec 9, 2020Yield to maturity0.676%Dec 18, 2020Yield to maturity0.662%Dec 30, 2020Yield to maturity0.639%Jan 11, 2021Yield to maturity0.817%Jan 21, 2021Yield to maturity0.766%Feb 1, 2021Yield to maturity0.733%Feb 10, 2021Yield to maturity0.771%Feb 22, 2021Yield to maturity0.969%Mar 3, 2021Yield to maturity1.107%Mar 12, 2021Yield to maturity1.258%Mar 23, 2021Yield to maturity1.240%Apr 1, 2021Yield to maturity1.318%Apr 12, 2021Yield to maturity1.291%Apr 21, 2021Yield to maturity1.182%Apr 30, 2021Yield to maturity1.245%May 11, 2021Yield to maturity1.197%May 20, 2021Yield to maturity1.199%Jun 1, 2021Yield to maturity1.176%Jun 10, 2021Yield to maturity1.051%Jun 21, 2021Yield to maturity1.171%Jun 30, 2021Yield to maturity1.131%Jul 12, 2021Yield to maturity1.041%Jul 21, 2021Yield to maturity0.960%Jul 30, 2021Yield to maturity0.910%Aug 10, 2021Yield to maturity1.030%Aug 19, 2021Yield to maturity0.954%Aug 30, 2021Yield to maturity0.971%Sep 9, 2021Yield to maturity0.978%Sep 20, 2021Yield to maturity1.011%Sep 29, 2021Yield to maturity1.227%Oct 8, 2021Yield to maturity1.268%Oct 20, 2021Yield to maturity1.352%Oct 29, 2021Yield to maturity1.350%Nov 9, 2021Yield to maturity1.232%Nov 19, 2021Yield to maturity1.357%Dec 1, 2021Yield to maturity1.266%Dec 10, 2021Yield to maturity1.353%Dec 21, 2021Yield to maturity1.339%Dec 31, 2021Yield to maturity1.365%Jan 11, 2022Yield to maturity1.620%Jan 21, 2022Yield to maturity1.643%Feb 1, 2022Yield to maturity1.718%Feb 10, 2022Yield to maturity2.019%Feb 22, 2022Yield to maturity1.907%Mar 3, 2022Yield to maturity1.799%Mar 14, 2022Yield to maturity2.156%Mar 23, 2022Yield to maturity2.392%Apr 1, 2022Yield to maturity2.572%Apr 12, 2022Yield to maturity2.727%Apr 22, 2022Yield to maturity2.974%May 3, 2022Yield to maturity3.050%May 12, 2022Yield to maturity2.863%May 23, 2022Yield to maturity2.921%Jun 2, 2022Yield to maturity2.972%Jun 13, 2022Yield to maturity3.598%Jun 23, 2022Yield to maturity3.193%Jul 5, 2022Yield to maturity2.876%Jul 14, 2022Yield to maturity3.110%Jul 25, 2022Yield to maturity2.933%Aug 3, 2022Yield to maturity2.895%Aug 12, 2022Yield to maturity2.997%Aug 23, 2022Yield to maturity3.203%Sep 1, 2022Yield to maturity3.441%Sep 13, 2022Yield to maturity3.617%Sep 22, 2022Yield to maturity3.946%Oct 3, 2022Yield to maturity3.928%Oct 13, 2022Yield to maturity4.246%Oct 24, 2022Yield to maturity4.390%Nov 2, 2022Yield to maturity4.323%Nov 14, 2022Yield to maturity4.033%Nov 23, 2022Yield to maturity3.945%Dec 5, 2022Yield to maturity3.850%Dec 14, 2022Yield to maturity3.684%Dec 23, 2022Yield to maturity3.903%Jan 5, 2023Yield to maturity3.929%Jan 17, 2023Yield to maturity3.627%Jan 26, 2023Yield to maturity3.627%Feb 6, 2023Yield to maturity3.832%Feb 15, 2023Yield to maturity4.070%Feb 27, 2023Yield to maturity4.214%Mar 8, 2023Yield to maturity4.387%Mar 17, 2023Yield to maturity3.513%Mar 28, 2023Yield to maturity3.726%Apr 6, 2023Yield to maturity3.425%Apr 17, 2023Yield to maturity3.754%Apr 26, 2023Yield to maturity3.522%May 5, 2023Yield to maturity3.469%May 16, 2023Yield to maturity3.573%May 25, 2023Yield to maturity4.017%Jun 6, 2023Yield to maturity3.941%Jun 15, 2023Yield to maturity4.018%Jun 27, 2023Yield to maturity4.128%Jul 7, 2023Yield to maturity4.438%Jul 18, 2023Yield to maturity4.096%Jul 27, 2023Yield to maturity4.359%Aug 7, 2023Yield to maturity4.253%Aug 16, 2023Yield to maturity4.503%Aug 25, 2023Yield to maturity4.549%Sep 6, 2023Yield to maturity4.556%Sep 15, 2023Yield to maturity4.566%Sep 26, 2023Yield to maturity4.717%Oct 5, 2023Yield to maturity4.750%Oct 17, 2023Yield to maturity4.932%Oct 26, 2023Yield to maturity4.864%Nov 6, 2023Yield to maturity4.670%Nov 15, 2023Yield to maturity4.600%Nov 27, 2023Yield to maturity4.501%Dec 6, 2023Yield to maturity4.224%Dec 15, 2023Yield to maturity4.008%Dec 27, 2023Yield to maturity3.882%Jan 8, 2024Yield to maturity4.042%Jan 18, 2024Yield to maturity4.075%Jan 29, 2024Yield to maturity4.035%Feb 7, 2024Yield to maturity4.124%Feb 16, 2024Yield to maturity4.370%Feb 28, 2024Yield to maturity4.364%Mar 8, 2024Yield to maturity4.177%Mar 19, 2024Yield to maturity4.420%Mar 28, 2024Yield to maturity4.334%Apr 8, 2024Yield to maturity4.548%Apr 17, 2024Yield to maturity4.729%Apr 26, 2024Yield to maturity4.805%May 7, 2024Yield to maturity4.593%May 16, 2024Yield to maturity4.516%May 28, 2024Yield to maturity4.700%Jun 6, 2024Yield to maturity4.432%Jun 17, 2024Yield to maturity4.454%Jun 27, 2024Yield to maturity4.453%Jul 9, 2024Yield to maturity4.371%Jul 18, 2024Yield to maturity4.214%Jul 29, 2024Yield to maturity4.160%Aug 7, 2024Yield to maturity3.850%Aug 16, 2024Yield to maturity3.857%Aug 27, 2024Yield to maturity3.718%Sep 6, 2024Yield to maturity3.541%Sep 17, 2024Yield to maturity3.476%Sep 26, 2024Yield to maturity3.564%Oct 7, 2024Yield to maturity3.918%Oct 17, 2024Yield to maturity3.913%Oct 28, 2024Yield to maturity4.118%Nov 6, 2024Yield to maturity4.263%Nov 18, 2024Yield to maturity4.279%Nov 27, 2024Yield to maturity4.181%Dec 9, 2024Yield to maturity4.097%Dec 18, 2024Yield to maturity4.369%Dec 30, 2024Yield to maturity4.300%Jan 9, 2025Yield to maturity4.348%Jan 21, 2025Yield to maturity4.328%Jan 30, 2025Yield to maturity4.234%Feb 10, 2025Yield to maturity4.299%Feb 20, 2025Yield to maturity4.284%Mar 3, 2025Yield to maturity3.951%Mar 12, 2025Yield to maturity4.007%Mar 21, 2025Yield to maturity3.940%Apr 1, 2025Yield to maturity3.866%Apr 10, 2025Yield to maturity3.883%Apr 21, 2025Yield to maturity3.774%Apr 30, 2025Yield to maturity3.590%May 9, 2025Yield to maturity3.883%May 20, 2025Yield to maturity3.956%May 30, 2025Yield to maturity3.888%Jun 10, 2025Yield to maturity4.005%Jun 20, 2025Yield to maturity3.880%Jul 1, 2025Yield to maturity3.769%Jul 11, 2025Yield to maturity3.885%Jul 22, 2025Yield to maturity3.787%Jul 31, 2025Yield to maturity3.910%Aug 11, 2025Yield to maturity3.743%Aug 20, 2025Yield to maturity3.716%Aug 29, 2025Yield to maturity3.594%Sep 10, 2025Yield to maturity3.519%Sep 19, 2025Yield to maturity3.559%Sep 30, 2025Yield to maturity3.608%Oct 9, 2025Yield to maturity3.594%Oct 21, 2025Yield to maturity3.447%Oct 30, 2025Yield to maturity3.611%Nov 10, 2025Yield to maturity3.592%Nov 20, 2025Yield to maturity3.562%Dec 2, 2025Yield to maturity3.525%Dec 11, 2025Yield to maturity3.527%Dec 22, 2025Yield to maturity3.503%Jan 2, 2026Yield to maturity3.486%Jan 13, 2026Yield to maturity3.541%Jan 23, 2026Yield to maturity3.612%Feb 3, 2026Yield to maturity3.560%Feb 12, 2026Yield to maturity3.469%Feb 24, 2026Yield to maturity3.465%Mar 5, 2026Yield to maturity3.583%Mar 16, 2026Yield to maturity3.695%Mar 25, 2026Yield to maturity3.920%Apr 3, 2026Yield to maturity3.879%Apr 14, 2026Yield to maturity3.784%Apr 23, 2026Yield to maturity3.832%May 4, 2026Yield to maturity3.959%May 13, 2026Yield to maturity3.969%May 22, 2026Yield to maturity4.109%Jun 3, 2026Yield to maturity4.053%Jun 12, 2026Yield to maturity4.055%Jun 24, 2026Yield to maturity4.144%Jul 6, 2026Yield to maturity4.131%Jul 15, 2026Yield to maturity4.121%Jul 24, 2026Yield to maturity4.299%Aug 4, 2026Yield to maturity4.164%Aug 13, 2026Yield to maturity4.103%Aug 24, 2026Yield to maturity4.186%Sep 2, 2026Yield to maturity4.310%Sep 9, 2026Yield to maturity4.314%

Price history

1,447 trading days to Sep 9, 2026

80859095100105Nov 30, 2020Sep 9, 2026Nov 30, 2020Close100.063Dec 9, 2020Close99.656Dec 18, 2020Close99.750Dec 30, 2020Close99.906Jan 11, 2021Close98.719Jan 21, 2021Close99.063Feb 1, 2021Close99.281Feb 10, 2021Close99.031Feb 22, 2021Close97.750Mar 3, 2021Close96.875Mar 12, 2021Close95.938Mar 23, 2021Close96.063Apr 1, 2021Close95.594Apr 12, 2021Close95.781Apr 21, 2021Close96.469Apr 30, 2021Close96.094May 11, 2021Close96.406May 20, 2021Close96.406Jun 1, 2021Close96.563Jun 10, 2021Close97.344Jun 21, 2021Close96.625Jun 30, 2021Close96.875Jul 12, 2021Close97.438Jul 21, 2021Close97.938Jul 30, 2021Close98.250Aug 10, 2021Close97.531Aug 19, 2021Close98.000Aug 30, 2021Close97.906Sep 9, 2021Close97.875Sep 20, 2021Close97.688Sep 29, 2021Close96.438Oct 8, 2021Close96.219Oct 20, 2021Close95.750Oct 29, 2021Close95.781Nov 9, 2021Close96.469Nov 19, 2021Close95.781Dec 1, 2021Close96.313Dec 10, 2021Close95.844Dec 21, 2021Close95.938Dec 31, 2021Close95.813Jan 11, 2022Close94.438Jan 21, 2022Close94.344Feb 1, 2022Close93.969Feb 10, 2022Close92.406Feb 22, 2022Close93.031Mar 3, 2022Close93.625Mar 14, 2022Close91.813Mar 23, 2022Close90.656Apr 1, 2022Close89.813Apr 12, 2022Close89.094Apr 22, 2022Close87.969May 3, 2022Close87.656May 12, 2022Close88.594May 23, 2022Close88.375Jun 2, 2022Close88.188Jun 13, 2022Close85.375Jun 23, 2022Close87.281Jul 5, 2022Close88.813Jul 14, 2022Close87.781Jul 25, 2022Close88.656Aug 3, 2022Close88.875Aug 12, 2022Close88.469Aug 23, 2022Close87.594Sep 1, 2022Close86.594Sep 13, 2022Close85.906Sep 22, 2022Close84.563Oct 3, 2022Close84.719Oct 13, 2022Close83.469Oct 24, 2022Close82.969Nov 2, 2022Close83.313Nov 14, 2022Close84.594Nov 23, 2022Close85.031Dec 5, 2022Close85.500Dec 14, 2022Close86.250Dec 23, 2022Close85.438Jan 5, 2023Close85.406Jan 17, 2023Close86.719Jan 26, 2023Close86.781Feb 6, 2023Close86.031Feb 15, 2023Close85.156Feb 27, 2023Close84.688Mar 8, 2023Close84.094Mar 17, 2023Close87.594Mar 28, 2023Close86.813Apr 6, 2023Close88.063Apr 17, 2023Close86.844Apr 26, 2023Close87.813May 5, 2023Close88.094May 16, 2023Close87.750May 25, 2023Close86.125Jun 6, 2023Close86.500Jun 15, 2023Close86.281Jun 27, 2023Close85.969Jul 7, 2023Close84.938Jul 18, 2023Close86.250Jul 27, 2023Close85.375Aug 7, 2023Close85.844Aug 16, 2023Close85.031Aug 25, 2023Close84.969Sep 6, 2023Close85.031Sep 15, 2023Close85.094Sep 26, 2023Close84.656Oct 5, 2023Close84.625Oct 17, 2023Close84.125Oct 26, 2023Close84.438Nov 6, 2023Close85.188Nov 15, 2023Close85.500Nov 27, 2023Close85.938Dec 6, 2023Close86.938Dec 15, 2023Close87.750Dec 27, 2023Close88.250Jan 8, 2024Close87.813Jan 18, 2024Close87.781Jan 29, 2024Close88.000Feb 7, 2024Close87.781Feb 16, 2024Close87.094Feb 28, 2024Close87.188Mar 8, 2024Close87.875Mar 19, 2024Close87.188Mar 28, 2024Close87.531Apr 8, 2024Close86.969Apr 17, 2024Close86.500Apr 26, 2024Close86.375May 7, 2024Close87.094May 16, 2024Close87.406May 28, 2024Close86.969Jun 6, 2024Close87.844Jun 17, 2024Close87.875Jun 27, 2024Close87.969Jul 9, 2024Close88.313Jul 18, 2024Close88.844Jul 29, 2024Close89.094Aug 7, 2024Close90.063Aug 16, 2024Close90.125Aug 27, 2024Close90.594Sep 6, 2024Close91.188Sep 17, 2024Close91.438Sep 26, 2024Close91.250Oct 7, 2024Close90.344Oct 17, 2024Close90.438Oct 28, 2024Close89.969Nov 6, 2024Close89.656Nov 18, 2024Close89.719Nov 27, 2024Close90.063Dec 9, 2024Close90.375Dec 18, 2024Close89.750Dec 30, 2024Close90.031Jan 9, 2025Close90.000Jan 21, 2025Close90.156Jan 30, 2025Close90.469Feb 10, 2025Close90.406Feb 20, 2025Close90.531Mar 3, 2025Close91.438Mar 12, 2025Close91.375Mar 21, 2025Close91.625Apr 1, 2025Close91.875Apr 10, 2025Close91.906Apr 21, 2025Close92.250Apr 30, 2025Close92.750May 9, 2025Close92.156May 20, 2025Close92.063May 30, 2025Close92.313Jun 10, 2025Close92.125Jun 20, 2025Close92.500Jul 1, 2025Close92.813Jul 11, 2025Close92.656Jul 22, 2025Close92.938Jul 31, 2025Close92.750Aug 11, 2025Close93.188Aug 20, 2025Close93.313Aug 29, 2025Close93.656Sep 10, 2025Close93.875Sep 19, 2025Close93.875Sep 30, 2025Close93.844Oct 9, 2025Close93.938Oct 21, 2025Close94.313Oct 30, 2025Close94.063Nov 10, 2025Close94.188Nov 20, 2025Close94.313Dec 2, 2025Close94.469Dec 11, 2025Close94.531Dec 22, 2025Close94.656Jan 2, 2026Close94.781Jan 13, 2026Close94.750Jan 23, 2026Close94.719Feb 3, 2026Close94.875Feb 12, 2026Close95.094Feb 24, 2026Close95.188Mar 5, 2026Close95.063Mar 16, 2026Close94.969Mar 25, 2026Close94.688Apr 3, 2026Close94.844Apr 14, 2026Close95.063Apr 23, 2026Close95.063May 4, 2026Close94.969May 13, 2026Close95.031May 22, 2026Close94.938Jun 3, 2026Close95.094Jun 12, 2026Close95.188Jun 24, 2026Close95.156Jul 6, 2026Close95.281Jul 15, 2026Close95.375Jul 24, 2026Close95.250Aug 4, 2026Close95.500Aug 13, 2026Close95.656Aug 24, 2026Close95.656Sep 2, 2026Close95.594Sep 9, 2026Close95.656
The most recent 20 trading days of prices for 91282CAY7.
DateBidOfferClose
Sep 9, 202695.67295.65695.656
Sep 8, 202695.67295.65695.656
Sep 4, 202695.67295.65695.656
Sep 3, 202695.67295.65695.656
Sep 2, 202695.60995.59495.594
Sep 1, 202695.60995.59495.563
Aug 31, 202695.62595.62595.594
Aug 28, 202695.62595.59495.594
Aug 27, 202695.73495.71995.688
Aug 26, 202695.73495.71995.719
Aug 25, 202695.73495.71995.719
Aug 24, 202695.70395.68895.656
Aug 21, 202695.68895.68895.688
Aug 20, 202695.70395.68895.688
Aug 19, 202695.70395.68895.688
Aug 18, 202695.70395.68895.688
Aug 17, 202695.70395.68895.656
Aug 14, 202695.70395.68895.656
Aug 13, 202695.67295.65695.656
Aug 12, 202695.60995.59495.594

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 91282CAY7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 24, 2020Nov 30, 2020New issue$56.0bn$63.8bn2.37x0.653%

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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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.