Treasury note

91282CBP5 · 1.125% due February 29, 2028

Original term
7-Year
Maturity
Feb 29, 2028
Coupon
1.125%
Pays
Semi-Annual
Dated
Feb 28, 2021
First coupon
Aug 31, 2021
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$75.42bn
Held stripped
$134.4m
Share stripped
0.18%

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
4.358%
Modified duration
1.433 yr
DV01
0.0137
Convexity
2.760
Dirty price
95.469

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 3 of twelve buckets, summing to 1.462 years against a modified duration of 1.433.

Against the fitted curve

Priced 0.9 bp cheap to the curve on that day, 1.27 cents per 100 of face.

That is 0.60 standard deviations from its own typical residual.

Yield to maturity, 1,386 observations

0%1%2%3%4%5%Mar 1, 2021Sep 9, 2026Mar 1, 2021Yield to maturity1.120%Mar 9, 2021Yield to maturity1.228%Mar 17, 2021Yield to maturity1.257%Mar 25, 2021Yield to maturity1.271%Apr 2, 2021Yield to maturity1.401%Apr 12, 2021Yield to maturity1.325%Apr 20, 2021Yield to maturity1.225%Apr 28, 2021Yield to maturity1.278%May 6, 2021Yield to maturity1.216%May 14, 2021Yield to maturity1.250%May 24, 2021Yield to maturity1.231%Jun 2, 2021Yield to maturity1.198%Jun 10, 2021Yield to maturity1.086%Jun 18, 2021Yield to maturity1.174%Jun 28, 2021Yield to maturity1.193%Jul 7, 2021Yield to maturity1.042%Jul 15, 2021Yield to maturity1.017%Jul 23, 2021Yield to maturity0.983%Aug 2, 2021Yield to maturity0.890%Aug 10, 2021Yield to maturity1.056%Aug 18, 2021Yield to maturity0.996%Aug 26, 2021Yield to maturity1.060%Sep 3, 2021Yield to maturity1.015%Sep 14, 2021Yield to maturity0.995%Sep 22, 2021Yield to maturity1.054%Sep 30, 2021Yield to maturity1.227%Oct 8, 2021Yield to maturity1.299%Oct 19, 2021Yield to maturity1.377%Oct 27, 2021Yield to maturity1.326%Nov 4, 2021Yield to maturity1.285%Nov 15, 2021Yield to maturity1.427%Nov 23, 2021Yield to maturity1.492%Dec 2, 2021Yield to maturity1.313%Dec 10, 2021Yield to maturity1.356%Dec 20, 2021Yield to maturity1.278%Dec 29, 2021Yield to maturity1.401%Jan 6, 2022Yield to maturity1.586%Jan 14, 2022Yield to maturity1.659%Jan 25, 2022Yield to maturity1.667%Feb 2, 2022Yield to maturity1.702%Feb 10, 2022Yield to maturity2.018%Feb 18, 2022Yield to maturity1.881%Mar 1, 2022Yield to maturity1.630%Mar 9, 2022Yield to maturity1.915%Mar 17, 2022Yield to maturity2.224%Mar 25, 2022Yield to maturity2.578%Apr 4, 2022Yield to maturity2.559%Apr 12, 2022Yield to maturity2.716%Apr 21, 2022Yield to maturity2.981%Apr 29, 2022Yield to maturity2.952%May 9, 2022Yield to maturity3.015%May 17, 2022Yield to maturity3.003%May 25, 2022Yield to maturity2.772%Jun 3, 2022Yield to maturity3.007%Jun 13, 2022Yield to maturity3.582%Jun 22, 2022Yield to maturity3.259%Jun 30, 2022Yield to maturity3.048%Jul 11, 2022Yield to maturity3.084%Jul 19, 2022Yield to maturity3.162%Jul 27, 2022Yield to maturity2.866%Aug 4, 2022Yield to maturity2.783%Aug 12, 2022Yield to maturity2.978%Aug 22, 2022Yield to maturity3.182%Aug 30, 2022Yield to maturity3.310%Sep 8, 2022Yield to maturity3.428%Sep 16, 2022Yield to maturity3.623%Sep 26, 2022Yield to maturity4.164%Oct 4, 2022Yield to maturity3.866%Oct 13, 2022Yield to maturity4.248%Oct 21, 2022Yield to maturity4.379%Oct 31, 2022Yield to maturity4.305%Nov 8, 2022Yield to maturity4.332%Nov 17, 2022Yield to maturity3.948%Nov 28, 2022Yield to maturity3.921%Dec 6, 2022Yield to maturity3.753%Dec 14, 2022Yield to maturity3.671%Dec 22, 2022Yield to maturity3.826%Jan 3, 2023Yield to maturity3.967%Jan 11, 2023Yield to maturity3.679%Jan 20, 2023Yield to maturity3.571%Jan 30, 2023Yield to maturity3.698%Feb 7, 2023Yield to maturity3.871%Feb 15, 2023Yield to maturity4.055%Feb 24, 2023Yield to maturity4.224%Mar 6, 2023Yield to maturity4.283%Mar 14, 2023Yield to maturity3.803%Mar 22, 2023Yield to maturity3.612%Mar 30, 2023Yield to maturity3.713%Apr 7, 2023Yield to maturity3.531%Apr 17, 2023Yield to maturity3.731%Apr 25, 2023Yield to maturity3.470%May 3, 2023Yield to maturity3.412%May 11, 2023Yield to maturity3.400%May 19, 2023Yield to maturity3.803%May 30, 2023Yield to maturity3.895%Jun 7, 2023Yield to maturity4.001%Jun 15, 2023Yield to maturity3.991%Jun 26, 2023Yield to maturity4.032%Jul 5, 2023Yield to maturity4.322%Jul 13, 2023Yield to maturity3.997%Jul 21, 2023Yield to maturity4.159%Jul 31, 2023Yield to maturity4.255%Aug 8, 2023Yield to maturity4.171%Aug 16, 2023Yield to maturity4.484%Aug 24, 2023Yield to maturity4.475%Sep 1, 2023Yield to maturity4.379%Sep 12, 2023Yield to maturity4.505%Sep 20, 2023Yield to maturity4.607%Sep 28, 2023Yield to maturity4.692%Oct 6, 2023Yield to maturity4.786%Oct 17, 2023Yield to maturity4.909%Oct 25, 2023Yield to maturity4.946%Nov 2, 2023Yield to maturity4.700%Nov 10, 2023Yield to maturity4.713%Nov 20, 2023Yield to maturity4.502%Nov 29, 2023Yield to maturity4.301%Dec 7, 2023Yield to maturity4.203%Dec 15, 2023Yield to maturity3.995%Dec 26, 2023Yield to maturity3.959%Jan 4, 2024Yield to maturity4.038%Jan 12, 2024Yield to maturity3.864%Jan 23, 2024Yield to maturity4.083%Jan 31, 2024Yield to maturity3.956%Feb 8, 2024Yield to maturity4.178%Feb 16, 2024Yield to maturity4.366%Feb 27, 2024Yield to maturity4.411%Mar 6, 2024Yield to maturity4.216%Mar 14, 2024Yield to maturity4.381%Mar 22, 2024Yield to maturity4.291%Apr 1, 2024Yield to maturity4.440%Apr 9, 2024Yield to maturity4.468%Apr 17, 2024Yield to maturity4.717%Apr 25, 2024Yield to maturity4.805%May 3, 2024Yield to maturity4.577%May 13, 2024Yield to maturity4.596%May 21, 2024Yield to maturity4.528%May 30, 2024Yield to maturity4.668%Jun 7, 2024Yield to maturity4.565%Jun 17, 2024Yield to maturity4.426%Jun 26, 2024Yield to maturity4.467%Jul 5, 2024Yield to maturity4.334%Jul 15, 2024Yield to maturity4.203%Jul 23, 2024Yield to maturity4.231%Jul 31, 2024Yield to maturity4.058%Aug 8, 2024Yield to maturity3.885%Aug 16, 2024Yield to maturity3.845%Aug 26, 2024Yield to maturity3.731%Sep 4, 2024Yield to maturity3.617%Sep 12, 2024Yield to maturity3.501%Sep 20, 2024Yield to maturity3.489%Sep 30, 2024Yield to maturity3.596%Oct 8, 2024Yield to maturity3.904%Oct 17, 2024Yield to maturity3.913%Oct 25, 2024Yield to maturity4.085%Nov 4, 2024Yield to maturity4.180%Nov 13, 2024Yield to maturity4.301%Nov 21, 2024Yield to maturity4.333%Dec 2, 2024Yield to maturity4.142%Dec 10, 2024Yield to maturity4.129%Dec 18, 2024Yield to maturity4.385%Dec 27, 2024Yield to maturity4.393%Jan 7, 2025Yield to maturity4.373%Jan 15, 2025Yield to maturity4.361%Jan 24, 2025Yield to maturity4.335%Feb 3, 2025Yield to maturity4.288%Feb 11, 2025Yield to maturity4.311%Feb 20, 2025Yield to maturity4.290%Feb 28, 2025Yield to maturity4.000%Mar 10, 2025Yield to maturity3.926%Mar 18, 2025Yield to maturity4.030%Mar 26, 2025Yield to maturity4.015%Apr 3, 2025Yield to maturity3.688%Apr 11, 2025Yield to maturity4.003%Apr 21, 2025Yield to maturity3.780%Apr 29, 2025Yield to maturity3.653%May 7, 2025Yield to maturity3.771%May 15, 2025Yield to maturity3.966%May 23, 2025Yield to maturity3.997%Jun 3, 2025Yield to maturity3.943%Jun 11, 2025Yield to maturity3.940%Jun 20, 2025Yield to maturity3.880%Jun 30, 2025Yield to maturity3.708%Jul 9, 2025Yield to maturity3.836%Jul 17, 2025Yield to maturity3.898%Jul 25, 2025Yield to maturity3.874%Aug 4, 2025Yield to maturity3.669%Aug 12, 2025Yield to maturity3.718%Aug 20, 2025Yield to maturity3.713%Aug 28, 2025Yield to maturity3.612%Sep 8, 2025Yield to maturity3.477%Sep 16, 2025Yield to maturity3.484%Sep 24, 2025Yield to maturity3.603%Oct 2, 2025Yield to maturity3.540%Oct 10, 2025Yield to maturity3.528%Oct 21, 2025Yield to maturity3.450%Oct 29, 2025Yield to maturity3.602%Nov 6, 2025Yield to maturity3.567%Nov 17, 2025Yield to maturity3.614%Nov 25, 2025Yield to maturity3.473%Dec 4, 2025Yield to maturity3.529%Dec 12, 2025Yield to maturity3.544%Dec 22, 2025Yield to maturity3.522%Dec 31, 2025Yield to maturity3.490%Jan 9, 2026Yield to maturity3.552%Jan 20, 2026Yield to maturity3.613%Jan 28, 2026Yield to maturity3.607%Feb 5, 2026Yield to maturity3.486%Feb 13, 2026Yield to maturity3.405%Feb 24, 2026Yield to maturity3.464%Mar 4, 2026Yield to maturity3.540%Mar 12, 2026Yield to maturity3.755%Mar 20, 2026Yield to maturity3.914%Mar 30, 2026Yield to maturity3.840%Apr 7, 2026Yield to maturity3.835%Apr 15, 2026Yield to maturity3.794%Apr 23, 2026Yield to maturity3.843%May 1, 2026Yield to maturity3.884%May 11, 2026Yield to maturity3.954%May 19, 2026Yield to maturity4.122%May 28, 2026Yield to maturity4.028%Jun 5, 2026Yield to maturity4.152%Jun 15, 2026Yield to maturity4.052%Jun 24, 2026Yield to maturity4.155%Jul 2, 2026Yield to maturity4.148%Jul 13, 2026Yield to maturity4.271%Jul 21, 2026Yield to maturity4.251%Jul 29, 2026Yield to maturity4.230%Aug 6, 2026Yield to maturity4.230%Aug 14, 2026Yield to maturity4.132%Aug 24, 2026Yield to maturity4.198%Sep 1, 2026Yield to maturity4.355%Sep 9, 2026Yield to maturity4.358%

Price history

1,386 trading days to Sep 9, 2026

80859095100105Mar 1, 2021Sep 9, 2026Mar 1, 2021Close100.031Mar 9, 2021Close99.313Mar 17, 2021Close99.125Mar 25, 2021Close99.031Apr 2, 2021Close98.188Apr 12, 2021Close98.688Apr 20, 2021Close99.344Apr 28, 2021Close99.000May 6, 2021Close99.406May 14, 2021Close99.188May 24, 2021Close99.313Jun 2, 2021Close99.531Jun 10, 2021Close100.250Jun 18, 2021Close99.688Jun 28, 2021Close99.563Jul 7, 2021Close100.531Jul 15, 2021Close100.688Jul 23, 2021Close100.906Aug 2, 2021Close101.500Aug 10, 2021Close100.438Aug 18, 2021Close100.813Aug 26, 2021Close100.406Sep 3, 2021Close100.688Sep 14, 2021Close100.813Sep 22, 2021Close100.438Sep 30, 2021Close99.375Oct 8, 2021Close98.938Oct 19, 2021Close98.469Oct 27, 2021Close98.781Nov 4, 2021Close99.031Nov 15, 2021Close98.188Nov 23, 2021Close97.813Dec 2, 2021Close98.875Dec 10, 2021Close98.625Dec 20, 2021Close99.094Dec 29, 2021Close98.375Jan 6, 2022Close97.313Jan 14, 2022Close96.906Jan 25, 2022Close96.875Feb 2, 2022Close96.688Feb 10, 2022Close94.938Feb 18, 2022Close95.719Mar 1, 2022Close97.125Mar 9, 2022Close95.563Mar 17, 2022Close93.906Mar 25, 2022Close92.063Apr 4, 2022Close92.188Apr 12, 2022Close91.406Apr 21, 2022Close90.094Apr 29, 2022Close90.281May 9, 2022Close90.000May 17, 2022Close90.094May 25, 2022Close91.281Jun 3, 2022Close90.156Jun 13, 2022Close87.406Jun 22, 2022Close89.000Jun 30, 2022Close90.063Jul 11, 2022Close89.938Jul 19, 2022Close89.594Jul 27, 2022Close91.063Aug 4, 2022Close91.500Aug 12, 2022Close90.594Aug 22, 2022Close89.656Aug 30, 2022Close89.094Sep 8, 2022Close88.594Sep 16, 2022Close87.750Sep 26, 2022Close85.375Oct 4, 2022Close86.750Oct 13, 2022Close85.125Oct 21, 2022Close84.625Oct 31, 2022Close85.000Nov 8, 2022Close84.938Nov 17, 2022Close86.656Nov 28, 2022Close86.844Dec 6, 2022Close87.625Dec 14, 2022Close88.031Dec 22, 2022Close87.406Jan 3, 2023Close86.875Jan 11, 2023Close88.156Jan 20, 2023Close88.688Jan 30, 2023Close88.188Feb 7, 2023Close87.500Feb 15, 2023Close86.781Feb 24, 2023Close86.156Mar 6, 2023Close85.969Mar 14, 2023Close88.000Mar 22, 2023Close88.844Mar 30, 2023Close88.469Apr 7, 2023Close89.281Apr 17, 2023Close88.500Apr 25, 2023Close89.625May 3, 2023Close89.906May 11, 2023Close90.000May 19, 2023Close88.406May 30, 2023Close88.094Jun 7, 2023Close87.719Jun 15, 2023Close87.813Jun 26, 2023Close87.719Jul 5, 2023Close86.656Jul 13, 2023Close87.969Jul 21, 2023Close87.406Jul 31, 2023Close87.094Aug 8, 2023Close87.469Aug 16, 2023Close86.344Aug 24, 2023Close86.438Sep 1, 2023Close86.875Sep 12, 2023Close86.469Sep 20, 2023Close86.156Sep 28, 2023Close85.906Oct 6, 2023Close85.656Oct 17, 2023Close85.281Oct 25, 2023Close85.219Nov 2, 2023Close86.156Nov 10, 2023Close86.188Nov 20, 2023Close87.000Nov 29, 2023Close87.781Dec 7, 2023Close88.188Dec 15, 2023Close89.000Dec 26, 2023Close89.188Jan 4, 2024Close88.969Jan 12, 2024Close89.656Jan 23, 2024Close88.938Jan 31, 2024Close89.438Feb 8, 2024Close88.719Feb 16, 2024Close88.156Feb 27, 2024Close88.063Mar 6, 2024Close88.781Mar 14, 2024Close88.281Mar 22, 2024Close88.656Apr 1, 2024Close88.219Apr 9, 2024Close88.188Apr 17, 2024Close87.438Apr 25, 2024Close87.219May 3, 2024Close88.031May 13, 2024Close88.031May 21, 2024Close88.313May 30, 2024Close87.938Jun 7, 2024Close88.344Jun 17, 2024Close88.844Jun 26, 2024Close88.781Jul 5, 2024Close89.281Jul 15, 2024Close89.750Jul 23, 2024Close89.719Jul 31, 2024Close90.313Aug 8, 2024Close90.906Aug 16, 2024Close91.094Aug 26, 2024Close91.500Sep 4, 2024Close91.906Sep 12, 2024Close92.313Sep 20, 2024Close92.406Sep 30, 2024Close92.125Oct 8, 2024Close91.250Oct 17, 2024Close91.281Oct 25, 2024Close90.844Nov 4, 2024Close90.625Nov 13, 2024Close90.344Nov 21, 2024Close90.313Dec 2, 2024Close90.938Dec 10, 2024Close91.031Dec 18, 2024Close90.375Dec 27, 2024Close90.438Jan 7, 2025Close90.563Jan 15, 2025Close90.656Jan 24, 2025Close90.813Feb 3, 2025Close91.000Feb 11, 2025Close91.000Feb 20, 2025Close91.125Feb 28, 2025Close91.969Mar 10, 2025Close92.219Mar 18, 2025Close92.000Mar 26, 2025Close92.094Apr 3, 2025Close93.000Apr 11, 2025Close92.250Apr 21, 2025Close92.875Apr 29, 2025Close93.250May 7, 2025Close93.000May 15, 2025Close92.563May 23, 2025Close92.563Jun 3, 2025Close92.750Jun 11, 2025Close92.813Jun 20, 2025Close93.031Jun 30, 2025Close93.500Jul 9, 2025Close93.250Jul 17, 2025Close93.156Jul 25, 2025Close93.281Aug 4, 2025Close93.813Aug 12, 2025Close93.750Aug 20, 2025Close93.813Aug 28, 2025Close94.094Sep 8, 2025Close94.469Sep 16, 2025Close94.500Sep 24, 2025Close94.281Oct 2, 2025Close94.469Oct 10, 2025Close94.563Oct 21, 2025Close94.781Oct 29, 2025Close94.500Nov 6, 2025Close94.625Nov 17, 2025Close94.594Nov 25, 2025Close94.938Dec 4, 2025Close94.875Dec 12, 2025Close94.906Dec 22, 2025Close95.000Dec 31, 2025Close95.125Jan 9, 2026Close95.063Jan 20, 2026Close95.000Jan 28, 2026Close95.063Feb 5, 2026Close95.344Feb 13, 2026Close95.563Feb 24, 2026Close95.500Mar 4, 2026Close95.406Mar 12, 2026Close95.063Mar 20, 2026Close94.844Mar 30, 2026Close95.031Apr 7, 2026Close95.094Apr 15, 2026Close95.219Apr 23, 2026Close95.188May 1, 2026Close95.188May 11, 2026Close95.125May 19, 2026Close94.906May 28, 2026Close95.125Jun 5, 2026Close95.000Jun 15, 2026Close95.219Jun 24, 2026Close95.125Jul 2, 2026Close95.219Jul 13, 2026Close95.094Jul 21, 2026Close95.188Jul 29, 2026Close95.281Aug 6, 2026Close95.344Aug 14, 2026Close95.563Aug 24, 2026Close95.531Sep 1, 2026Close95.375Sep 9, 2026Close95.438
The most recent 20 trading days of prices for 91282CBP5.
DateBidOfferClose
Sep 9, 202695.45395.43895.438
Sep 8, 202695.46995.46995.438
Sep 4, 202695.48495.46995.469
Sep 3, 202695.48495.46995.469
Sep 2, 202695.40695.40695.406
Sep 1, 202695.42295.40695.375
Aug 31, 202695.45395.43895.438
Aug 28, 202695.45395.43895.406
Aug 27, 202695.57895.56395.563
Aug 26, 202695.57895.56395.563
Aug 25, 202695.57895.56395.563
Aug 24, 202695.54795.53195.531
Aug 21, 202695.53195.53195.531
Aug 20, 202695.57895.56395.563
Aug 19, 202695.54795.53195.563
Aug 18, 202695.57895.56395.563
Aug 17, 202695.57895.56395.531
Aug 14, 202695.57895.56395.563
Aug 13, 202695.56395.56395.563
Aug 12, 202695.50095.50095.469

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 91282CBP5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 25, 2021Mar 1, 2021New issue$62.0bn$75.4bn2.04x1.195%

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.