Treasury note

91282CCY5 · 1.25% due September 30, 2028

Original term
7-Year
Maturity
Sep 30, 2028
Coupon
1.250%
Pays
Semi-Annual
Dated
Sep 30, 2021
First coupon
Mar 31, 2022
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$69.47bn
Held stripped
$135.2m
Share stripped
0.19%

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
4.450%
Modified duration
1.978 yr
DV01
0.0187
Convexity
4.927
Dirty price
94.338

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 4 of twelve buckets, summing to 2.023 years against a modified duration of 1.978.

Against the fitted curve

Priced 0.2 bp rich to the curve on that day, 0.31 cents per 100 of face.

That is -0.26 standard deviations from its own typical residual.

Yield to maturity, 1,236 observations

1%2%3%4%5%Sep 30, 2021Sep 9, 2026Sep 30, 2021Yield to maturity1.316%Oct 8, 2021Yield to maturity1.387%Oct 19, 2021Yield to maturity1.468%Oct 27, 2021Yield to maturity1.402%Nov 4, 2021Yield to maturity1.369%Nov 15, 2021Yield to maturity1.505%Nov 23, 2021Yield to maturity1.574%Dec 2, 2021Yield to maturity1.380%Dec 10, 2021Yield to maturity1.414%Dec 20, 2021Yield to maturity1.337%Dec 29, 2021Yield to maturity1.460%Jan 6, 2022Yield to maturity1.654%Jan 14, 2022Yield to maturity1.716%Jan 25, 2022Yield to maturity1.723%Feb 2, 2022Yield to maturity1.744%Feb 10, 2022Yield to maturity2.050%Feb 18, 2022Yield to maturity1.918%Mar 1, 2022Yield to maturity1.678%Mar 9, 2022Yield to maturity1.938%Mar 17, 2022Yield to maturity2.242%Mar 25, 2022Yield to maturity2.588%Apr 4, 2022Yield to maturity2.560%Apr 12, 2022Yield to maturity2.753%Apr 21, 2022Yield to maturity2.996%Apr 29, 2022Yield to maturity2.974%May 9, 2022Yield to maturity3.060%May 17, 2022Yield to maturity3.026%May 25, 2022Yield to maturity2.785%Jun 3, 2022Yield to maturity3.017%Jun 13, 2022Yield to maturity3.580%Jun 22, 2022Yield to maturity3.277%Jun 30, 2022Yield to maturity3.071%Jul 11, 2022Yield to maturity3.103%Jul 19, 2022Yield to maturity3.157%Jul 27, 2022Yield to maturity2.867%Aug 4, 2022Yield to maturity2.785%Aug 12, 2022Yield to maturity2.986%Aug 22, 2022Yield to maturity3.185%Aug 30, 2022Yield to maturity3.307%Sep 8, 2022Yield to maturity3.444%Sep 16, 2022Yield to maturity3.635%Sep 26, 2022Yield to maturity4.163%Oct 4, 2022Yield to maturity3.856%Oct 13, 2022Yield to maturity4.237%Oct 21, 2022Yield to maturity4.370%Oct 31, 2022Yield to maturity4.288%Nov 8, 2022Yield to maturity4.319%Nov 17, 2022Yield to maturity3.940%Nov 28, 2022Yield to maturity3.895%Dec 6, 2022Yield to maturity3.728%Dec 14, 2022Yield to maturity3.652%Dec 22, 2022Yield to maturity3.825%Jan 3, 2023Yield to maturity3.946%Jan 11, 2023Yield to maturity3.670%Jan 20, 2023Yield to maturity3.570%Jan 30, 2023Yield to maturity3.685%Feb 7, 2023Yield to maturity3.848%Feb 15, 2023Yield to maturity4.021%Feb 24, 2023Yield to maturity4.201%Mar 6, 2023Yield to maturity4.254%Mar 14, 2023Yield to maturity3.810%Mar 22, 2023Yield to maturity3.610%Mar 30, 2023Yield to maturity3.707%Apr 7, 2023Yield to maturity3.535%Apr 17, 2023Yield to maturity3.722%Apr 25, 2023Yield to maturity3.478%May 3, 2023Yield to maturity3.419%May 11, 2023Yield to maturity3.414%May 19, 2023Yield to maturity3.798%May 30, 2023Yield to maturity3.866%Jun 7, 2023Yield to maturity3.976%Jun 15, 2023Yield to maturity3.937%Jun 26, 2023Yield to maturity3.980%Jul 5, 2023Yield to maturity4.247%Jul 13, 2023Yield to maturity3.946%Jul 21, 2023Yield to maturity4.098%Jul 31, 2023Yield to maturity4.206%Aug 8, 2023Yield to maturity4.137%Aug 16, 2023Yield to maturity4.448%Aug 24, 2023Yield to maturity4.431%Sep 1, 2023Yield to maturity4.343%Sep 12, 2023Yield to maturity4.463%Sep 20, 2023Yield to maturity4.569%Sep 28, 2023Yield to maturity4.684%Oct 6, 2023Yield to maturity4.798%Oct 17, 2023Yield to maturity4.908%Oct 25, 2023Yield to maturity4.964%Nov 2, 2023Yield to maturity4.701%Nov 10, 2023Yield to maturity4.704%Nov 20, 2023Yield to maturity4.481%Nov 29, 2023Yield to maturity4.277%Dec 7, 2023Yield to maturity4.173%Dec 15, 2023Yield to maturity3.963%Dec 26, 2023Yield to maturity3.945%Jan 4, 2024Yield to maturity4.014%Jan 12, 2024Yield to maturity3.874%Jan 23, 2024Yield to maturity4.076%Jan 31, 2024Yield to maturity3.937%Feb 8, 2024Yield to maturity4.158%Feb 16, 2024Yield to maturity4.331%Feb 27, 2024Yield to maturity4.370%Mar 6, 2024Yield to maturity4.171%Mar 14, 2024Yield to maturity4.350%Mar 22, 2024Yield to maturity4.252%Apr 1, 2024Yield to maturity4.391%Apr 9, 2024Yield to maturity4.423%Apr 17, 2024Yield to maturity4.668%Apr 25, 2024Yield to maturity4.762%May 3, 2024Yield to maturity4.533%May 13, 2024Yield to maturity4.558%May 21, 2024Yield to maturity4.487%May 30, 2024Yield to maturity4.627%Jun 7, 2024Yield to maturity4.517%Jun 17, 2024Yield to maturity4.376%Jun 26, 2024Yield to maturity4.411%Jul 5, 2024Yield to maturity4.293%Jul 15, 2024Yield to maturity4.176%Jul 23, 2024Yield to maturity4.200%Jul 31, 2024Yield to maturity4.013%Aug 8, 2024Yield to maturity3.869%Aug 16, 2024Yield to maturity3.825%Aug 26, 2024Yield to maturity3.715%Sep 4, 2024Yield to maturity3.607%Sep 12, 2024Yield to maturity3.505%Sep 20, 2024Yield to maturity3.502%Sep 30, 2024Yield to maturity3.603%Oct 8, 2024Yield to maturity3.895%Oct 17, 2024Yield to maturity3.921%Oct 25, 2024Yield to maturity4.096%Nov 4, 2024Yield to maturity4.196%Nov 13, 2024Yield to maturity4.318%Nov 21, 2024Yield to maturity4.335%Dec 2, 2024Yield to maturity4.140%Dec 10, 2024Yield to maturity4.127%Dec 18, 2024Yield to maturity4.404%Dec 27, 2024Yield to maturity4.439%Jan 7, 2025Yield to maturity4.430%Jan 15, 2025Yield to maturity4.419%Jan 24, 2025Yield to maturity4.395%Feb 3, 2025Yield to maturity4.344%Feb 11, 2025Yield to maturity4.352%Feb 20, 2025Yield to maturity4.323%Feb 28, 2025Yield to maturity4.024%Mar 10, 2025Yield to maturity3.950%Mar 18, 2025Yield to maturity4.058%Mar 26, 2025Yield to maturity4.045%Apr 3, 2025Yield to maturity3.716%Apr 11, 2025Yield to maturity4.073%Apr 21, 2025Yield to maturity3.843%Apr 29, 2025Yield to maturity3.684%May 7, 2025Yield to maturity3.792%May 15, 2025Yield to maturity3.997%May 23, 2025Yield to maturity4.022%Jun 3, 2025Yield to maturity3.965%Jun 11, 2025Yield to maturity3.950%Jun 20, 2025Yield to maturity3.888%Jun 30, 2025Yield to maturity3.722%Jul 9, 2025Yield to maturity3.838%Jul 17, 2025Yield to maturity3.911%Jul 25, 2025Yield to maturity3.878%Aug 4, 2025Yield to maturity3.663%Aug 12, 2025Yield to maturity3.735%Aug 20, 2025Yield to maturity3.719%Aug 28, 2025Yield to maturity3.623%Sep 8, 2025Yield to maturity3.488%Sep 16, 2025Yield to maturity3.504%Sep 24, 2025Yield to maturity3.623%Oct 2, 2025Yield to maturity3.571%Oct 10, 2025Yield to maturity3.536%Oct 21, 2025Yield to maturity3.459%Oct 29, 2025Yield to maturity3.605%Nov 6, 2025Yield to maturity3.575%Nov 17, 2025Yield to maturity3.612%Nov 25, 2025Yield to maturity3.460%Dec 4, 2025Yield to maturity3.552%Dec 12, 2025Yield to maturity3.587%Dec 22, 2025Yield to maturity3.556%Dec 31, 2025Yield to maturity3.541%Jan 9, 2026Yield to maturity3.589%Jan 20, 2026Yield to maturity3.662%Jan 28, 2026Yield to maturity3.643%Feb 5, 2026Yield to maturity3.533%Feb 13, 2026Yield to maturity3.441%Feb 24, 2026Yield to maturity3.460%Mar 4, 2026Yield to maturity3.545%Mar 12, 2026Yield to maturity3.780%Mar 20, 2026Yield to maturity3.916%Mar 30, 2026Yield to maturity3.857%Apr 7, 2026Yield to maturity3.852%Apr 15, 2026Yield to maturity3.791%Apr 23, 2026Yield to maturity3.855%May 1, 2026Yield to maturity3.913%May 11, 2026Yield to maturity3.966%May 19, 2026Yield to maturity4.180%May 28, 2026Yield to maturity4.064%Jun 5, 2026Yield to maturity4.201%Jun 15, 2026Yield to maturity4.093%Jun 24, 2026Yield to maturity4.170%Jul 2, 2026Yield to maturity4.162%Jul 13, 2026Yield to maturity4.300%Jul 21, 2026Yield to maturity4.299%Jul 29, 2026Yield to maturity4.266%Aug 6, 2026Yield to maturity4.280%Aug 14, 2026Yield to maturity4.206%Aug 24, 2026Yield to maturity4.269%Sep 1, 2026Yield to maturity4.417%Sep 9, 2026Yield to maturity4.450%

Price history

1,236 trading days to Sep 9, 2026

82.585.087.590.092.595.097.5100.0Sep 30, 2021Sep 9, 2026Sep 30, 2021Close99.563Oct 8, 2021Close99.094Oct 19, 2021Close98.563Oct 27, 2021Close99.000Nov 4, 2021Close99.219Nov 15, 2021Close98.344Nov 23, 2021Close97.906Dec 2, 2021Close99.156Dec 10, 2021Close98.938Dec 20, 2021Close99.438Dec 29, 2021Close98.656Jan 6, 2022Close97.438Jan 14, 2022Close97.063Jan 25, 2022Close97.031Feb 2, 2022Close96.906Feb 10, 2022Close95.063Feb 18, 2022Close95.875Mar 1, 2022Close97.344Mar 9, 2022Close95.781Mar 17, 2022Close94.000Mar 25, 2022Close92.031Apr 4, 2022Close92.219Apr 12, 2022Close91.156Apr 21, 2022Close89.844Apr 29, 2022Close90.000May 9, 2022Close89.563May 17, 2022Close89.781May 25, 2022Close91.125Jun 3, 2022Close89.906Jun 13, 2022Close86.969Jun 22, 2022Close88.594Jun 30, 2022Close89.719Jul 11, 2022Close89.594Jul 19, 2022Close89.344Jul 27, 2022Close90.906Aug 4, 2022Close91.375Aug 12, 2022Close90.344Aug 22, 2022Close89.344Aug 30, 2022Close88.750Sep 8, 2022Close88.094Sep 16, 2022Close87.188Sep 26, 2022Close84.656Oct 4, 2022Close86.188Oct 13, 2022Close84.406Oct 21, 2022Close83.844Oct 31, 2022Close84.281Nov 8, 2022Close84.188Nov 17, 2022Close86.031Nov 28, 2022Close86.313Dec 6, 2022Close87.156Dec 14, 2022Close87.563Dec 22, 2022Close86.781Jan 3, 2023Close86.281Jan 11, 2023Close87.625Jan 20, 2023Close88.156Jan 30, 2023Close87.656Feb 7, 2023Close86.938Feb 15, 2023Close86.188Feb 24, 2023Close85.438Mar 6, 2023Close85.250Mar 14, 2023Close87.313Mar 22, 2023Close88.281Mar 30, 2023Close87.875Apr 7, 2023Close88.719Apr 17, 2023Close87.906Apr 25, 2023Close89.063May 3, 2023Close89.375May 11, 2023Close89.438May 19, 2023Close87.750May 30, 2023Close87.500Jun 7, 2023Close87.063Jun 15, 2023Close87.281Jun 26, 2023Close87.156Jul 5, 2023Close86.063Jul 13, 2023Close87.406Jul 21, 2023Close86.813Jul 31, 2023Close86.406Aug 8, 2023Close86.750Aug 16, 2023Close85.500Aug 24, 2023Close85.625Sep 1, 2023Close86.063Sep 12, 2023Close85.625Sep 20, 2023Close85.250Sep 28, 2023Close84.844Oct 6, 2023Close84.469Oct 17, 2023Close84.094Oct 25, 2023Close83.938Nov 2, 2023Close85.031Nov 10, 2023Close85.094Nov 20, 2023Close86.031Nov 29, 2023Close86.906Dec 7, 2023Close87.375Dec 15, 2023Close88.281Dec 26, 2023Close88.406Jan 4, 2024Close88.188Jan 12, 2024Close88.813Jan 23, 2024Close88.063Jan 31, 2024Close88.656Feb 8, 2024Close87.844Feb 16, 2024Close87.250Feb 27, 2024Close87.156Mar 6, 2024Close87.969Mar 14, 2024Close87.344Mar 22, 2024Close87.781Apr 1, 2024Close87.313Apr 9, 2024Close87.250Apr 17, 2024Close86.406Apr 25, 2024Close86.125May 3, 2024Close87.031May 13, 2024Close87.000May 21, 2024Close87.313May 30, 2024Close86.875Jun 7, 2024Close87.344Jun 17, 2024Close87.906Jun 26, 2024Close87.844Jul 5, 2024Close88.344Jul 15, 2024Close88.813Jul 23, 2024Close88.781Jul 31, 2024Close89.500Aug 8, 2024Close90.063Aug 16, 2024Close90.281Aug 26, 2024Close90.719Sep 4, 2024Close91.156Sep 12, 2024Close91.563Sep 20, 2024Close91.625Sep 30, 2024Close91.313Oct 8, 2024Close90.344Oct 17, 2024Close90.313Oct 25, 2024Close89.781Nov 4, 2024Close89.500Nov 13, 2024Close89.156Nov 21, 2024Close89.156Dec 2, 2024Close89.875Dec 10, 2024Close89.969Dec 18, 2024Close89.125Dec 27, 2024Close89.094Jan 7, 2025Close89.188Jan 15, 2025Close89.281Jan 24, 2025Close89.438Feb 3, 2025Close89.656Feb 11, 2025Close89.688Feb 20, 2025Close89.844Feb 28, 2025Close90.844Mar 10, 2025Close91.125Mar 18, 2025Close90.844Mar 26, 2025Close90.938Apr 3, 2025Close92.000Apr 11, 2025Close90.969Apr 21, 2025Close91.719Apr 29, 2025Close92.250May 7, 2025Close91.969May 15, 2025Close91.406May 23, 2025Close91.406Jun 3, 2025Close91.625Jun 11, 2025Close91.719Jun 20, 2025Close91.969Jun 30, 2025Close92.500Jul 9, 2025Close92.219Jul 17, 2025Close92.063Jul 25, 2025Close92.219Aug 4, 2025Close92.875Aug 12, 2025Close92.719Aug 20, 2025Close92.813Aug 28, 2025Close93.125Sep 8, 2025Close93.563Sep 16, 2025Close93.563Sep 24, 2025Close93.281Oct 2, 2025Close93.469Oct 10, 2025Close93.625Oct 21, 2025Close93.875Oct 29, 2025Close93.531Nov 6, 2025Close93.656Nov 17, 2025Close93.625Nov 25, 2025Close94.063Dec 4, 2025Close93.875Dec 12, 2025Close93.844Dec 22, 2025Close93.969Dec 31, 2025Close94.063Jan 9, 2026Close94.000Jan 20, 2026Close93.875Jan 28, 2026Close93.969Feb 5, 2026Close94.281Feb 13, 2026Close94.563Feb 24, 2026Close94.563Mar 4, 2026Close94.406Mar 12, 2026Close93.906Mar 20, 2026Close93.656Mar 30, 2026Close93.844Apr 7, 2026Close93.906Apr 15, 2026Close94.094Apr 23, 2026Close94.000May 1, 2026Close93.938May 11, 2026Close93.875May 19, 2026Close93.469May 28, 2026Close93.781Jun 5, 2026Close93.563Jun 15, 2026Close93.844Jun 24, 2026Close93.750Jul 2, 2026Close93.844Jul 13, 2026Close93.625Jul 21, 2026Close93.688Jul 29, 2026Close93.813Aug 6, 2026Close93.844Aug 14, 2026Close94.063Aug 24, 2026Close94.000Sep 1, 2026Close93.781Sep 9, 2026Close93.781
The most recent 20 trading days of prices for 91282CCY5.
DateBidOfferClose
Sep 9, 202693.79793.78193.781
Sep 8, 202693.85993.84493.844
Sep 4, 202693.89193.87593.875
Sep 3, 202693.92293.90693.906
Sep 2, 202693.82893.81393.813
Sep 1, 202693.85993.84493.781
Aug 31, 202693.89193.87593.875
Aug 28, 202693.92293.90693.844
Aug 27, 202694.10994.09494.063
Aug 26, 202694.07894.06394.063
Aug 25, 202694.10994.09494.094
Aug 24, 202694.04794.03194.000
Aug 21, 202694.01694.00094.000
Aug 20, 202694.07894.06394.063
Aug 19, 202694.07894.06394.094
Aug 18, 202694.07894.06394.063
Aug 17, 202694.10994.09494.063
Aug 14, 202694.14194.12594.063
Aug 13, 202694.10994.09494.094
Aug 12, 202694.01694.00093.969

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 91282CCY5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 28, 2021Sep 30, 2021New issue$62.0bn$69.5bn2.24x1.332%

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.