Treasury note

91282CCS8 · 1.25% due August 15, 2031

Original term
10-Year
Maturity
Aug 15, 2031
Coupon
1.250%
Pays
Semi-Annual
Dated
Aug 15, 2021
First coupon
Feb 15, 2022
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$141.34bn
Held stripped
$43.8m
Share stripped
0.03%

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
4.631%
Modified duration
4.669 yr
DV01
0.0398
Convexity
24.528
Dirty price
85.338

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 6 of twelve buckets, summing to 4.776 years against a modified duration of 4.669.

Against the fitted curve

Priced 0.9 bp cheap to the curve on that day, 3.69 cents per 100 of face.

That is 0.38 standard deviations from its own typical residual.

Yield to maturity, 1,268 observations

1%2%3%4%5%Aug 16, 2021Sep 9, 2026Aug 16, 2021Yield to maturity1.257%Aug 24, 2021Yield to maturity1.290%Sep 1, 2021Yield to maturity1.304%Sep 10, 2021Yield to maturity1.341%Sep 20, 2021Yield to maturity1.307%Sep 28, 2021Yield to maturity1.534%Oct 6, 2021Yield to maturity1.524%Oct 15, 2021Yield to maturity1.577%Oct 25, 2021Yield to maturity1.634%Nov 2, 2021Yield to maturity1.547%Nov 10, 2021Yield to maturity1.544%Nov 19, 2021Yield to maturity1.531%Nov 30, 2021Yield to maturity1.419%Dec 8, 2021Yield to maturity1.493%Dec 16, 2021Yield to maturity1.417%Dec 27, 2021Yield to maturity1.463%Jan 4, 2022Yield to maturity1.642%Jan 12, 2022Yield to maturity1.722%Jan 21, 2022Yield to maturity1.734%Jan 31, 2022Yield to maturity1.783%Feb 8, 2022Yield to maturity1.947%Feb 16, 2022Yield to maturity2.032%Feb 25, 2022Yield to maturity1.977%Mar 7, 2022Yield to maturity1.777%Mar 15, 2022Yield to maturity2.148%Mar 23, 2022Yield to maturity2.325%Mar 31, 2022Yield to maturity2.328%Apr 8, 2022Yield to maturity2.736%Apr 19, 2022Yield to maturity2.939%Apr 27, 2022Yield to maturity2.818%May 5, 2022Yield to maturity3.048%May 13, 2022Yield to maturity2.939%May 23, 2022Yield to maturity2.863%Jun 1, 2022Yield to maturity2.938%Jun 9, 2022Yield to maturity3.049%Jun 17, 2022Yield to maturity3.249%Jun 28, 2022Yield to maturity3.193%Jul 7, 2022Yield to maturity3.003%Jul 15, 2022Yield to maturity2.931%Jul 25, 2022Yield to maturity2.803%Aug 2, 2022Yield to maturity2.730%Aug 10, 2022Yield to maturity2.764%Aug 18, 2022Yield to maturity2.856%Aug 26, 2022Yield to maturity3.047%Sep 6, 2022Yield to maturity3.330%Sep 14, 2022Yield to maturity3.407%Sep 22, 2022Yield to maturity3.716%Sep 30, 2022Yield to maturity3.840%Oct 11, 2022Yield to maturity3.938%Oct 19, 2022Yield to maturity4.142%Oct 27, 2022Yield to maturity3.945%Nov 4, 2022Yield to maturity4.147%Nov 15, 2022Yield to maturity3.788%Nov 23, 2022Yield to maturity3.695%Dec 2, 2022Yield to maturity3.492%Dec 12, 2022Yield to maturity3.600%Dec 20, 2022Yield to maturity3.662%Dec 29, 2022Yield to maturity3.797%Jan 9, 2023Yield to maturity3.478%Jan 18, 2023Yield to maturity3.307%Jan 26, 2023Yield to maturity3.429%Feb 3, 2023Yield to maturity3.487%Feb 13, 2023Yield to maturity3.693%Feb 22, 2023Yield to maturity3.919%Mar 2, 2023Yield to maturity4.074%Mar 10, 2023Yield to maturity3.694%Mar 20, 2023Yield to maturity3.503%Mar 28, 2023Yield to maturity3.551%Apr 5, 2023Yield to maturity3.291%Apr 13, 2023Yield to maturity3.438%Apr 21, 2023Yield to maturity3.551%May 1, 2023Yield to maturity3.552%May 9, 2023Yield to maturity3.471%May 17, 2023Yield to maturity3.534%May 25, 2023Yield to maturity3.816%Jun 5, 2023Yield to maturity3.701%Jun 13, 2023Yield to maturity3.857%Jun 22, 2023Yield to maturity3.809%Jun 30, 2023Yield to maturity3.843%Jul 11, 2023Yield to maturity4.008%Jul 19, 2023Yield to maturity3.761%Jul 27, 2023Yield to maturity4.028%Aug 4, 2023Yield to maturity4.027%Aug 14, 2023Yield to maturity4.201%Aug 22, 2023Yield to maturity4.346%Aug 30, 2023Yield to maturity4.137%Sep 8, 2023Yield to maturity4.275%Sep 18, 2023Yield to maturity4.336%Sep 26, 2023Yield to maturity4.566%Oct 4, 2023Yield to maturity4.729%Oct 13, 2023Yield to maturity4.631%Oct 23, 2023Yield to maturity4.847%Oct 31, 2023Yield to maturity4.873%Nov 8, 2023Yield to maturity4.514%Nov 16, 2023Yield to maturity4.452%Nov 27, 2023Yield to maturity4.403%Dec 5, 2023Yield to maturity4.178%Dec 13, 2023Yield to maturity4.030%Dec 21, 2023Yield to maturity3.893%Jan 2, 2024Yield to maturity3.941%Jan 10, 2024Yield to maturity4.019%Jan 19, 2024Yield to maturity4.121%Jan 29, 2024Yield to maturity4.031%Feb 6, 2024Yield to maturity4.066%Feb 14, 2024Yield to maturity4.272%Feb 23, 2024Yield to maturity4.272%Mar 4, 2024Yield to maturity4.225%Mar 12, 2024Yield to maturity4.156%Mar 20, 2024Yield to maturity4.259%Mar 28, 2024Yield to maturity4.195%Apr 5, 2024Yield to maturity4.386%Apr 15, 2024Yield to maturity4.630%Apr 23, 2024Yield to maturity4.605%May 1, 2024Yield to maturity4.620%May 9, 2024Yield to maturity4.445%May 17, 2024Yield to maturity4.416%May 28, 2024Yield to maturity4.554%Jun 5, 2024Yield to maturity4.292%Jun 13, 2024Yield to maturity4.227%Jun 24, 2024Yield to maturity4.256%Jul 2, 2024Yield to maturity4.410%Jul 11, 2024Yield to maturity4.154%Jul 19, 2024Yield to maturity4.200%Jul 29, 2024Yield to maturity4.111%Aug 6, 2024Yield to maturity3.807%Aug 14, 2024Yield to maturity3.741%Aug 22, 2024Yield to maturity3.788%Aug 30, 2024Yield to maturity3.821%Sep 10, 2024Yield to maturity3.536%Sep 18, 2024Yield to maturity3.588%Sep 26, 2024Yield to maturity3.674%Oct 4, 2024Yield to maturity3.889%Oct 15, 2024Yield to maturity3.944%Oct 23, 2024Yield to maturity4.152%Oct 31, 2024Yield to maturity4.226%Nov 8, 2024Yield to maturity4.263%Nov 19, 2024Yield to maturity4.326%Nov 27, 2024Yield to maturity4.193%Dec 6, 2024Yield to maturity4.096%Dec 16, 2024Yield to maturity4.328%Dec 24, 2024Yield to maturity4.530%Jan 3, 2025Yield to maturity4.513%Jan 13, 2025Yield to maturity4.717%Jan 22, 2025Yield to maturity4.517%Jan 30, 2025Yield to maturity4.409%Feb 7, 2025Yield to maturity4.415%Feb 18, 2025Yield to maturity4.483%Feb 26, 2025Yield to maturity4.158%Mar 6, 2025Yield to maturity4.174%Mar 14, 2025Yield to maturity4.199%Mar 24, 2025Yield to maturity4.202%Apr 1, 2025Yield to maturity4.014%Apr 9, 2025Yield to maturity4.191%Apr 17, 2025Yield to maturity4.101%Apr 25, 2025Yield to maturity4.044%May 5, 2025Yield to maturity4.097%May 13, 2025Yield to maturity4.265%May 21, 2025Yield to maturity4.313%May 30, 2025Yield to maturity4.130%Jun 9, 2025Yield to maturity4.236%Jun 17, 2025Yield to maturity4.118%Jun 26, 2025Yield to maturity3.945%Jul 7, 2025Yield to maturity4.099%Jul 15, 2025Yield to maturity4.193%Jul 23, 2025Yield to maturity4.080%Jul 31, 2025Yield to maturity4.077%Aug 8, 2025Yield to maturity3.954%Aug 18, 2025Yield to maturity3.983%Aug 26, 2025Yield to maturity3.877%Sep 4, 2025Yield to maturity3.771%Sep 12, 2025Yield to maturity3.725%Sep 22, 2025Yield to maturity3.811%Sep 30, 2025Yield to maturity3.840%Oct 8, 2025Yield to maturity3.823%Oct 17, 2025Yield to maturity3.686%Oct 27, 2025Yield to maturity3.707%Nov 4, 2025Yield to maturity3.782%Nov 13, 2025Yield to maturity3.792%Nov 21, 2025Yield to maturity3.712%Dec 2, 2025Yield to maturity3.742%Dec 10, 2025Yield to maturity3.811%Dec 18, 2025Yield to maturity3.754%Dec 29, 2025Yield to maturity3.760%Jan 7, 2026Yield to maturity3.777%Jan 15, 2026Yield to maturity3.841%Jan 26, 2026Yield to maturity3.895%Feb 3, 2026Yield to maturity3.912%Feb 11, 2026Yield to maturity3.820%Feb 20, 2026Yield to maturity3.717%Mar 2, 2026Yield to maturity3.685%Mar 10, 2026Yield to maturity3.791%Mar 18, 2026Yield to maturity3.927%Mar 26, 2026Yield to maturity4.156%Apr 3, 2026Yield to maturity4.050%Apr 13, 2026Yield to maturity3.976%Apr 21, 2026Yield to maturity3.958%Apr 29, 2026Yield to maturity4.105%May 7, 2026Yield to maturity4.088%May 15, 2026Yield to maturity4.299%May 26, 2026Yield to maturity4.226%Jun 3, 2026Yield to maturity4.245%Jun 11, 2026Yield to maturity4.206%Jun 22, 2026Yield to maturity4.312%Jun 30, 2026Yield to maturity4.213%Jul 9, 2026Yield to maturity4.287%Jul 17, 2026Yield to maturity4.296%Jul 27, 2026Yield to maturity4.430%Aug 4, 2026Yield to maturity4.360%Aug 12, 2026Yield to maturity4.396%Aug 20, 2026Yield to maturity4.410%Aug 28, 2026Yield to maturity4.512%Sep 8, 2026Yield to maturity4.590%Sep 9, 2026Yield to maturity4.631%

Price history

1,268 trading days to Sep 9, 2026

7580859095100105Aug 16, 2021Sep 9, 2026Aug 16, 2021Close99.938Aug 24, 2021Close99.625Sep 1, 2021Close99.500Sep 10, 2021Close99.156Sep 20, 2021Close99.469Sep 28, 2021Close97.406Oct 6, 2021Close97.500Oct 15, 2021Close97.031Oct 25, 2021Close96.531Nov 2, 2021Close97.313Nov 10, 2021Close97.344Nov 19, 2021Close97.469Nov 30, 2021Close98.469Dec 8, 2021Close97.813Dec 16, 2021Close98.500Dec 27, 2021Close98.094Jan 4, 2022Close96.531Jan 12, 2022Close95.844Jan 21, 2022Close95.750Jan 31, 2022Close95.344Feb 8, 2022Close93.969Feb 16, 2022Close93.281Feb 25, 2022Close93.750Mar 7, 2022Close95.438Mar 15, 2022Close92.375Mar 23, 2022Close90.969Mar 31, 2022Close90.969Apr 8, 2022Close87.813Apr 19, 2022Close86.313Apr 27, 2022Close87.250May 5, 2022Close85.563May 13, 2022Close86.406May 23, 2022Close87.000Jun 1, 2022Close86.469Jun 9, 2022Close85.688Jun 17, 2022Close84.281Jun 28, 2022Close84.719Jul 7, 2022Close86.125Jul 15, 2022Close86.688Jul 25, 2022Close87.656Aug 2, 2022Close88.219Aug 10, 2022Close88.000Aug 18, 2022Close87.344Aug 26, 2022Close86.000Sep 6, 2022Close84.031Sep 14, 2022Close83.531Sep 22, 2022Close81.469Sep 30, 2022Close80.688Oct 11, 2022Close80.094Oct 19, 2022Close78.813Oct 27, 2022Close80.125Nov 4, 2022Close78.875Nov 15, 2022Close81.250Nov 23, 2022Close81.906Dec 2, 2022Close83.313Dec 12, 2022Close82.625Dec 20, 2022Close82.250Dec 29, 2022Close81.406Jan 9, 2023Close83.563Jan 18, 2023Close84.750Jan 26, 2023Close83.969Feb 3, 2023Close83.625Feb 13, 2023Close82.313Feb 22, 2023Close80.906Mar 2, 2023Close79.969Mar 10, 2023Close82.438Mar 20, 2023Close83.719Mar 28, 2023Close83.438Apr 5, 2023Close85.188Apr 13, 2023Close84.250Apr 21, 2023Close83.563May 1, 2023Close83.594May 9, 2023Close84.156May 17, 2023Close83.781May 25, 2023Close82.031Jun 5, 2023Close82.813Jun 13, 2023Close81.875Jun 22, 2023Close82.219Jun 30, 2023Close82.063Jul 11, 2023Close81.094Jul 19, 2023Close82.656Jul 27, 2023Close81.063Aug 4, 2023Close81.125Aug 14, 2023Close80.125Aug 22, 2023Close79.313Aug 30, 2023Close80.594Sep 8, 2023Close79.844Sep 18, 2023Close79.531Sep 26, 2023Close78.250Oct 4, 2023Close77.375Oct 13, 2023Close78.000Oct 23, 2023Close76.844Oct 31, 2023Close76.750Nov 8, 2023Close78.813Nov 16, 2023Close79.219Nov 27, 2023Close79.563Dec 5, 2023Close80.906Dec 13, 2023Close81.813Dec 21, 2023Close82.656Jan 2, 2024Close82.438Jan 10, 2024Close82.031Jan 19, 2024Close81.500Jan 29, 2024Close82.063Feb 6, 2024Close81.906Feb 14, 2024Close80.781Feb 23, 2024Close80.844Mar 4, 2024Close81.156Mar 12, 2024Close81.594Mar 20, 2024Close81.063Mar 28, 2024Close81.469Apr 5, 2024Close80.469Apr 15, 2024Close79.188Apr 23, 2024Close79.375May 1, 2024Close79.344May 9, 2024Close80.344May 17, 2024Close80.563May 28, 2024Close79.875Jun 5, 2024Close81.344Jun 13, 2024Close81.750Jun 24, 2024Close81.656Jul 2, 2024Close80.875Jul 11, 2024Close82.313Jul 19, 2024Close82.125Jul 29, 2024Close82.656Aug 6, 2024Close84.375Aug 14, 2024Close84.781Aug 22, 2024Close84.563Aug 30, 2024Close84.438Sep 10, 2024Close86.063Sep 18, 2024Close85.813Sep 26, 2024Close85.375Oct 4, 2024Close84.250Oct 15, 2024Close84.000Oct 23, 2024Close82.938Oct 31, 2024Close82.594Nov 8, 2024Close82.469Nov 19, 2024Close82.188Nov 27, 2024Close82.938Dec 6, 2024Close83.500Dec 16, 2024Close82.344Dec 24, 2024Close81.375Jan 3, 2025Close81.531Jan 13, 2025Close80.563Jan 22, 2025Close81.625Jan 30, 2025Close82.219Feb 7, 2025Close82.250Feb 18, 2025Close81.969Feb 26, 2025Close83.656Mar 6, 2025Close83.625Mar 14, 2025Close83.563Mar 24, 2025Close83.594Apr 1, 2025Close84.594Apr 9, 2025Close83.750Apr 17, 2025Close84.250Apr 25, 2025Close84.594May 5, 2025Close84.375May 13, 2025Close83.594May 21, 2025Close83.406May 30, 2025Close84.375Jun 9, 2025Close83.906Jun 17, 2025Close84.531Jun 26, 2025Close85.438Jul 7, 2025Close84.750Jul 15, 2025Close84.344Jul 23, 2025Close84.938Jul 31, 2025Close85.000Aug 8, 2025Close85.656Aug 18, 2025Close85.563Aug 26, 2025Close86.125Sep 4, 2025Close86.688Sep 12, 2025Close86.969Sep 22, 2025Close86.594Sep 30, 2025Close86.500Oct 8, 2025Close86.625Oct 17, 2025Close87.344Oct 27, 2025Close87.281Nov 4, 2025Close86.969Nov 13, 2025Close86.969Nov 21, 2025Close87.406Dec 2, 2025Close87.313Dec 10, 2025Close87.031Dec 18, 2025Close87.344Dec 29, 2025Close87.375Jan 7, 2026Close87.344Jan 15, 2026Close87.094Jan 26, 2026Close86.906Feb 3, 2026Close86.875Feb 11, 2026Close87.344Feb 20, 2026Close87.875Mar 2, 2026Close88.063Mar 10, 2026Close87.625Mar 18, 2026Close87.063Mar 26, 2026Close86.094Apr 3, 2026Close86.625Apr 13, 2026Close87.000Apr 21, 2026Close87.125Apr 29, 2026Close86.531May 7, 2026Close86.656May 15, 2026Close85.813May 26, 2026Close86.188Jun 3, 2026Close86.156Jun 11, 2026Close86.375Jun 22, 2026Close86.000Jun 30, 2026Close86.469Jul 9, 2026Close86.219Jul 17, 2026Close86.250Jul 27, 2026Close85.750Aug 4, 2026Close86.094Aug 12, 2026Close86.000Aug 20, 2026Close86.000Aug 28, 2026Close85.656Sep 8, 2026Close85.406Sep 9, 2026Close85.250
The most recent 20 trading days of prices for 91282CCS8.
DateBidOfferClose
Sep 9, 202685.28185.25085.250
Sep 8, 202685.46985.43885.406
Sep 4, 202685.56385.53185.500
Sep 3, 202685.70385.68885.594
Sep 2, 202685.45385.43885.469
Sep 1, 202685.56385.53185.406
Aug 31, 202685.65685.62585.656
Aug 28, 202685.81385.78185.656
Aug 27, 202686.12586.09486.031
Aug 26, 202686.10986.09486.063
Aug 25, 202686.17286.15686.188
Aug 24, 202686.01686.00085.938
Aug 21, 202685.85985.84485.844
Aug 20, 202686.01686.00086.000
Aug 19, 202686.10986.09486.156
Aug 18, 202686.04786.03186.031
Aug 17, 202686.07886.06386.031
Aug 14, 202686.15686.12586.063
Aug 13, 202686.23486.21986.219
Aug 12, 202686.07886.06386.000

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 91282CCS8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 11, 2021Aug 16, 2021New issue$41.0bn$59.3bn2.65x1.340%
Sep 8, 2021Sep 15, 2021Reopening$38.0bn$42.0bn2.59x1.338%
Oct 12, 2021Oct 15, 2021Reopening$38.0bn$40.9bn2.58x1.584%

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.