Treasury note

91282CDK4 · 1.25% due November 30, 2026

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

Statement of August 31, 2026

Amount outstanding
$61.76bn
Held stripped
$506.4m
Share stripped
0.82%

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
3.943%
Modified duration
0.219 yr
DV01
0.0022
Convexity
0.096
Dirty price
99.755

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 1.4 bp cheap to the curve on that day, 0.31 cents per 100 of face.

That is 1.48 standard deviations from its own typical residual.

Yield to maturity, 1,196 observations

1%2%3%4%5%6%Nov 30, 2021Sep 9, 2026Nov 30, 2021Yield to maturity1.140%Dec 7, 2021Yield to maturity1.256%Dec 14, 2021Yield to maturity1.230%Dec 21, 2021Yield to maturity1.230%Dec 29, 2021Yield to maturity1.283%Jan 5, 2022Yield to maturity1.416%Jan 12, 2022Yield to maturity1.497%Jan 20, 2022Yield to maturity1.612%Jan 27, 2022Yield to maturity1.655%Feb 3, 2022Yield to maturity1.649%Feb 10, 2022Yield to maturity1.963%Feb 17, 2022Yield to maturity1.854%Feb 25, 2022Yield to maturity1.878%Mar 4, 2022Yield to maturity1.649%Mar 11, 2022Yield to maturity1.968%Mar 18, 2022Yield to maturity2.157%Mar 25, 2022Yield to maturity2.577%Apr 1, 2022Yield to maturity2.597%Apr 8, 2022Yield to maturity2.790%Apr 18, 2022Yield to maturity2.797%Apr 25, 2022Yield to maturity2.864%May 2, 2022Yield to maturity3.024%May 9, 2022Yield to maturity2.947%May 16, 2022Yield to maturity2.831%May 23, 2022Yield to maturity2.899%May 31, 2022Yield to maturity2.829%Jun 7, 2022Yield to maturity3.015%Jun 14, 2022Yield to maturity3.647%Jun 22, 2022Yield to maturity3.254%Jun 29, 2022Yield to maturity3.182%Jul 7, 2022Yield to maturity3.063%Jul 14, 2022Yield to maturity3.095%Jul 21, 2022Yield to maturity3.031%Jul 28, 2022Yield to maturity2.733%Aug 4, 2022Yield to maturity2.828%Aug 11, 2022Yield to maturity3.037%Aug 18, 2022Yield to maturity3.103%Aug 25, 2022Yield to maturity3.259%Sep 1, 2022Yield to maturity3.478%Sep 9, 2022Yield to maturity3.534%Sep 16, 2022Yield to maturity3.724%Sep 23, 2022Yield to maturity4.100%Sep 30, 2022Yield to maturity4.175%Oct 7, 2022Yield to maturity4.253%Oct 17, 2022Yield to maturity4.365%Oct 24, 2022Yield to maturity4.452%Oct 31, 2022Yield to maturity4.366%Nov 7, 2022Yield to maturity4.518%Nov 15, 2022Yield to maturity4.052%Nov 22, 2022Yield to maturity4.120%Nov 30, 2022Yield to maturity3.972%Dec 7, 2022Yield to maturity3.785%Dec 14, 2022Yield to maturity3.788%Dec 21, 2022Yield to maturity3.910%Dec 29, 2022Yield to maturity4.081%Jan 6, 2023Yield to maturity3.841%Jan 13, 2023Yield to maturity3.744%Jan 23, 2023Yield to maturity3.747%Jan 30, 2023Yield to maturity3.834%Feb 6, 2023Yield to maturity3.970%Feb 13, 2023Yield to maturity4.088%Feb 21, 2023Yield to maturity4.335%Feb 28, 2023Yield to maturity4.380%Mar 7, 2023Yield to maturity4.563%Mar 14, 2023Yield to maturity3.992%Mar 21, 2023Yield to maturity3.948%Mar 28, 2023Yield to maturity3.826%Apr 4, 2023Yield to maturity3.558%Apr 11, 2023Yield to maturity3.726%Apr 18, 2023Yield to maturity3.856%Apr 25, 2023Yield to maturity3.575%May 2, 2023Yield to maturity3.607%May 9, 2023Yield to maturity3.649%May 16, 2023Yield to maturity3.672%May 23, 2023Yield to maturity3.927%May 31, 2023Yield to maturity3.964%Jun 7, 2023Yield to maturity4.143%Jun 14, 2023Yield to maturity4.314%Jun 22, 2023Yield to maturity4.292%Jun 29, 2023Yield to maturity4.414%Jul 7, 2023Yield to maturity4.589%Jul 14, 2023Yield to maturity4.296%Jul 21, 2023Yield to maturity4.367%Jul 28, 2023Yield to maturity4.460%Aug 4, 2023Yield to maturity4.381%Aug 11, 2023Yield to maturity4.530%Aug 18, 2023Yield to maturity4.593%Aug 25, 2023Yield to maturity4.690%Sep 1, 2023Yield to maturity4.523%Sep 11, 2023Yield to maturity4.643%Sep 18, 2023Yield to maturity4.720%Sep 25, 2023Yield to maturity4.821%Oct 2, 2023Yield to maturity4.877%Oct 10, 2023Yield to maturity4.751%Oct 17, 2023Yield to maturity4.994%Oct 24, 2023Yield to maturity4.911%Oct 31, 2023Yield to maturity4.887%Nov 7, 2023Yield to maturity4.673%Nov 14, 2023Yield to maturity4.564%Nov 21, 2023Yield to maturity4.597%Nov 29, 2023Yield to maturity4.395%Dec 6, 2023Yield to maturity4.331%Dec 13, 2023Yield to maturity4.208%Dec 20, 2023Yield to maturity4.083%Dec 28, 2023Yield to maturity4.032%Jan 5, 2024Yield to maturity4.191%Jan 12, 2024Yield to maturity3.957%Jan 22, 2024Yield to maturity4.171%Jan 29, 2024Yield to maturity4.129%Feb 5, 2024Yield to maturity4.285%Feb 12, 2024Yield to maturity4.293%Feb 20, 2024Yield to maturity4.419%Feb 27, 2024Yield to maturity4.530%Mar 5, 2024Yield to maturity4.372%Mar 12, 2024Yield to maturity4.420%Mar 19, 2024Yield to maturity4.534%Mar 26, 2024Yield to maturity4.465%Apr 2, 2024Yield to maturity4.581%Apr 9, 2024Yield to maturity4.618%Apr 16, 2024Yield to maturity4.886%Apr 23, 2024Yield to maturity4.831%Apr 30, 2024Yield to maturity4.954%May 7, 2024Yield to maturity4.718%May 14, 2024Yield to maturity4.702%May 21, 2024Yield to maturity4.701%May 29, 2024Yield to maturity4.886%Jun 5, 2024Yield to maturity4.601%Jun 12, 2024Yield to maturity4.627%Jun 20, 2024Yield to maturity4.585%Jun 27, 2024Yield to maturity4.611%Jul 5, 2024Yield to maturity4.503%Jul 12, 2024Yield to maturity4.353%Jul 19, 2024Yield to maturity4.393%Jul 26, 2024Yield to maturity4.314%Aug 2, 2024Yield to maturity3.821%Aug 9, 2024Yield to maturity3.991%Aug 16, 2024Yield to maturity3.983%Aug 23, 2024Yield to maturity3.840%Aug 30, 2024Yield to maturity3.895%Sep 9, 2024Yield to maturity3.627%Sep 16, 2024Yield to maturity3.525%Sep 23, 2024Yield to maturity3.545%Sep 30, 2024Yield to maturity3.643%Oct 7, 2024Yield to maturity3.981%Oct 15, 2024Yield to maturity3.945%Oct 22, 2024Yield to maturity4.034%Oct 29, 2024Yield to maturity4.125%Nov 5, 2024Yield to maturity4.201%Nov 13, 2024Yield to maturity4.283%Nov 20, 2024Yield to maturity4.328%Nov 27, 2024Yield to maturity4.242%Dec 5, 2024Yield to maturity4.168%Dec 12, 2024Yield to maturity4.213%Dec 19, 2024Yield to maturity4.330%Dec 27, 2024Yield to maturity4.338%Jan 6, 2025Yield to maturity4.284%Jan 13, 2025Yield to maturity4.406%Jan 21, 2025Yield to maturity4.296%Jan 28, 2025Yield to maturity4.216%Feb 4, 2025Yield to maturity4.229%Feb 11, 2025Yield to maturity4.298%Feb 19, 2025Yield to maturity4.279%Feb 26, 2025Yield to maturity4.100%Mar 5, 2025Yield to maturity4.034%Mar 12, 2025Yield to maturity4.026%Mar 19, 2025Yield to maturity4.018%Mar 26, 2025Yield to maturity4.049%Apr 2, 2025Yield to maturity3.960%Apr 9, 2025Yield to maturity3.971%Apr 16, 2025Yield to maturity3.838%Apr 23, 2025Yield to maturity3.932%Apr 30, 2025Yield to maturity3.690%May 7, 2025Yield to maturity3.870%May 14, 2025Yield to maturity4.119%May 21, 2025Yield to maturity4.089%May 29, 2025Yield to maturity4.064%Jun 5, 2025Yield to maturity4.033%Jun 12, 2025Yield to maturity4.000%Jun 20, 2025Yield to maturity4.006%Jun 27, 2025Yield to maturity3.879%Jul 7, 2025Yield to maturity4.015%Jul 14, 2025Yield to maturity4.005%Jul 21, 2025Yield to maturity3.994%Jul 28, 2025Yield to maturity4.033%Aug 4, 2025Yield to maturity3.822%Aug 11, 2025Yield to maturity3.885%Aug 18, 2025Yield to maturity3.899%Aug 25, 2025Yield to maturity3.860%Sep 2, 2025Yield to maturity3.826%Sep 9, 2025Yield to maturity3.705%Sep 16, 2025Yield to maturity3.662%Sep 23, 2025Yield to maturity3.700%Sep 30, 2025Yield to maturity3.713%Oct 7, 2025Yield to maturity3.668%Oct 15, 2025Yield to maturity3.627%Oct 22, 2025Yield to maturity3.579%Oct 29, 2025Yield to maturity3.711%Nov 5, 2025Yield to maturity3.725%Nov 13, 2025Yield to maturity3.714%Nov 20, 2025Yield to maturity3.664%Nov 28, 2025Yield to maturity3.665%Dec 5, 2025Yield to maturity3.645%Dec 12, 2025Yield to maturity3.591%Dec 19, 2025Yield to maturity3.569%Dec 29, 2025Yield to maturity3.589%Jan 6, 2026Yield to maturity3.537%Jan 13, 2026Yield to maturity3.587%Jan 21, 2026Yield to maturity3.609%Jan 28, 2026Yield to maturity3.625%Feb 4, 2026Yield to maturity3.601%Feb 11, 2026Yield to maturity3.617%Feb 19, 2026Yield to maturity3.600%Feb 26, 2026Yield to maturity3.617%Mar 5, 2026Yield to maturity3.679%Mar 12, 2026Yield to maturity3.699%Mar 19, 2026Yield to maturity3.813%Mar 26, 2026Yield to maturity3.838%Apr 2, 2026Yield to maturity3.717%Apr 9, 2026Yield to maturity3.741%Apr 16, 2026Yield to maturity3.715%Apr 23, 2026Yield to maturity3.740%Apr 30, 2026Yield to maturity3.767%May 7, 2026Yield to maturity3.739%May 14, 2026Yield to maturity3.768%May 21, 2026Yield to maturity3.799%May 29, 2026Yield to maturity3.811%Jun 5, 2026Yield to maturity3.777%Jun 12, 2026Yield to maturity3.811%Jun 22, 2026Yield to maturity3.937%Jun 29, 2026Yield to maturity3.905%Jul 7, 2026Yield to maturity3.969%Jul 14, 2026Yield to maturity3.851%Jul 21, 2026Yield to maturity3.899%Jul 28, 2026Yield to maturity3.953%Aug 4, 2026Yield to maturity3.914%Aug 11, 2026Yield to maturity3.870%Aug 18, 2026Yield to maturity3.821%Aug 25, 2026Yield to maturity3.886%Sep 1, 2026Yield to maturity3.962%Sep 9, 2026Yield to maturity3.943%

Price history

1,196 trading days to Sep 9, 2026

87.590.092.595.097.5100.0102.5Nov 30, 2021Sep 9, 2026Nov 30, 2021Close100.531Dec 7, 2021Close99.969Dec 14, 2021Close100.094Dec 21, 2021Close100.094Dec 29, 2021Close99.844Jan 5, 2022Close99.219Jan 12, 2022Close98.844Jan 20, 2022Close98.313Jan 27, 2022Close98.125Feb 3, 2022Close98.156Feb 10, 2022Close96.750Feb 17, 2022Close97.250Feb 25, 2022Close97.156Mar 4, 2022Close98.188Mar 11, 2022Close96.781Mar 18, 2022Close95.969Mar 25, 2022Close94.188Apr 1, 2022Close94.125Apr 8, 2022Close93.344Apr 18, 2022Close93.344Apr 25, 2022Close93.094May 2, 2022Close92.469May 9, 2022Close92.813May 16, 2022Close93.313May 23, 2022Close93.063May 31, 2022Close93.375Jun 7, 2022Close92.656Jun 14, 2022Close90.219Jun 22, 2022Close91.781Jun 29, 2022Close92.094Jul 7, 2022Close92.594Jul 14, 2022Close92.500Jul 21, 2022Close92.781Jul 28, 2022Close93.969Aug 4, 2022Close93.625Aug 11, 2022Close92.844Aug 18, 2022Close92.625Aug 25, 2022Close92.063Sep 1, 2022Close91.281Sep 9, 2022Close91.125Sep 16, 2022Close90.469Sep 23, 2022Close89.156Sep 30, 2022Close88.938Oct 7, 2022Close88.719Oct 17, 2022Close88.375Oct 24, 2022Close88.125Oct 31, 2022Close88.469Nov 7, 2022Close88.000Nov 15, 2022Close89.656Nov 22, 2022Close89.469Nov 30, 2022Close90.031Dec 7, 2022Close90.719Dec 14, 2022Close90.750Dec 21, 2022Close90.375Dec 29, 2022Close89.844Jan 6, 2023Close90.719Jan 13, 2023Close91.094Jan 23, 2023Close91.125Jan 30, 2023Close90.875Feb 6, 2023Close90.469Feb 13, 2023Close90.125Feb 21, 2023Close89.375Feb 28, 2023Close89.281Mar 7, 2023Close88.750Mar 14, 2023Close90.625Mar 21, 2023Close90.813Mar 28, 2023Close91.250Apr 4, 2023Close92.156Apr 11, 2023Close91.656Apr 18, 2023Close91.281Apr 25, 2023Close92.219May 2, 2023Close92.156May 9, 2023Close92.063May 16, 2023Close92.031May 23, 2023Close91.281May 31, 2023Close91.219Jun 7, 2023Close90.719Jun 14, 2023Close90.250Jun 22, 2023Close90.375Jun 29, 2023Close90.063Jul 7, 2023Close89.625Jul 14, 2023Close90.531Jul 21, 2023Close90.375Jul 28, 2023Close90.156Aug 4, 2023Close90.438Aug 11, 2023Close90.063Aug 18, 2023Close89.938Aug 25, 2023Close89.719Sep 1, 2023Close90.250Sep 11, 2023Close89.969Sep 18, 2023Close89.813Sep 25, 2023Close89.594Oct 2, 2023Close89.500Oct 10, 2023Close89.906Oct 17, 2023Close89.313Oct 24, 2023Close89.594Oct 31, 2023Close89.719Nov 7, 2023Close90.344Nov 14, 2023Close90.688Nov 21, 2023Close90.656Nov 29, 2023Close91.250Dec 6, 2023Close91.469Dec 13, 2023Close91.844Dec 20, 2023Close92.219Dec 28, 2023Close92.406Jan 5, 2024Close92.063Jan 12, 2024Close92.719Jan 22, 2024Close92.219Jan 29, 2024Close92.375Feb 5, 2024Close92.031Feb 12, 2024Close92.063Feb 20, 2024Close91.813Feb 27, 2024Close91.594Mar 5, 2024Close92.031Mar 12, 2024Close91.969Mar 19, 2024Close91.750Mar 26, 2024Close91.969Apr 2, 2024Close91.750Apr 9, 2024Close91.719Apr 16, 2024Close91.156Apr 23, 2024Close91.344Apr 30, 2024Close91.125May 7, 2024Close91.719May 14, 2024Close91.813May 21, 2024Close91.875May 29, 2024Close91.531Jun 5, 2024Close92.219Jun 12, 2024Close92.219Jun 20, 2024Close92.375Jun 27, 2024Close92.375Jul 5, 2024Close92.688Jul 12, 2024Close93.063Jul 19, 2024Close93.031Jul 26, 2024Close93.250Aug 2, 2024Close94.344Aug 9, 2024Close94.031Aug 16, 2024Close94.094Aug 23, 2024Close94.438Aug 30, 2024Close94.375Sep 9, 2024Close94.969Sep 16, 2024Close95.219Sep 23, 2024Close95.219Sep 30, 2024Close95.063Oct 7, 2024Close94.438Oct 15, 2024Close94.563Oct 22, 2024Close94.438Oct 29, 2024Close94.313Nov 5, 2024Close94.219Nov 13, 2024Close94.125Nov 20, 2024Close94.094Nov 27, 2024Close94.313Dec 5, 2024Close94.500Dec 12, 2024Close94.469Dec 19, 2024Close94.313Dec 27, 2024Close94.375Jan 6, 2025Close94.531Jan 13, 2025Close94.375Jan 21, 2025Close94.625Jan 28, 2025Close94.813Feb 4, 2025Close94.844Feb 11, 2025Close94.781Feb 19, 2025Close94.875Feb 26, 2025Close95.219Mar 5, 2025Close95.375Mar 12, 2025Close95.438Mar 19, 2025Close95.500Mar 26, 2025Close95.500Apr 2, 2025Close95.688Apr 9, 2025Close95.719Apr 16, 2025Close95.969Apr 23, 2025Close95.875Apr 30, 2025Close96.281May 7, 2025Close96.063May 14, 2025Close95.750May 21, 2025Close95.844May 29, 2025Close95.938Jun 5, 2025Close96.031Jun 12, 2025Close96.125Jun 20, 2025Close96.188Jun 27, 2025Close96.406Jul 7, 2025Close96.281Jul 14, 2025Close96.344Jul 21, 2025Close96.406Jul 28, 2025Close96.406Aug 4, 2025Close96.719Aug 11, 2025Close96.688Aug 18, 2025Close96.719Aug 25, 2025Close96.813Sep 2, 2025Close96.906Sep 9, 2025Close97.094Sep 16, 2025Close97.188Sep 23, 2025Close97.188Sep 30, 2025Close97.219Oct 7, 2025Close97.313Oct 15, 2025Close97.406Oct 22, 2025Close97.500Oct 29, 2025Close97.406Nov 5, 2025Close97.438Nov 13, 2025Close97.500Nov 20, 2025Close97.594Nov 28, 2025Close97.656Dec 5, 2025Close97.719Dec 12, 2025Close97.813Dec 19, 2025Close97.875Dec 29, 2025Close97.906Jan 6, 2026Close98.000Jan 13, 2026Close98.000Jan 21, 2026Close98.031Jan 28, 2026Close98.063Feb 4, 2026Close98.125Feb 11, 2026Close98.156Feb 19, 2026Close98.219Feb 26, 2026Close98.250Mar 5, 2026Close98.250Mar 12, 2026Close98.281Mar 19, 2026Close98.250Mar 26, 2026Close98.281Apr 2, 2026Close98.406Apr 9, 2026Close98.438Apr 16, 2026Close98.500Apr 23, 2026Close98.531Apr 30, 2026Close98.563May 7, 2026Close98.625May 14, 2026Close98.656May 21, 2026Close98.688May 29, 2026Close98.750Jun 5, 2026Close98.813Jun 12, 2026Close98.844Jun 22, 2026Close98.844Jun 29, 2026Close98.906Jul 7, 2026Close98.938Jul 14, 2026Close99.031Jul 21, 2026Close99.063Jul 28, 2026Close99.094Aug 4, 2026Close99.156Aug 11, 2026Close99.219Aug 18, 2026Close99.281Aug 25, 2026Close99.313Sep 1, 2026Close99.344Sep 9, 2026Close99.406
The most recent 20 trading days of prices for 91282CDK4.
DateBidOfferClose
Sep 9, 2026–99.40699.406
Sep 8, 2026–99.40699.406
Sep 4, 2026–99.40699.406
Sep 3, 2026–99.37599.375
Sep 2, 2026–99.37599.375
Sep 1, 2026–99.34499.344
Aug 31, 2026–99.34499.344
Aug 28, 2026–99.34499.344
Aug 27, 2026–99.34499.344
Aug 26, 2026–99.34499.344
Aug 25, 2026–99.31399.313
Aug 24, 2026–99.31399.313
Aug 21, 2026–99.31399.313
Aug 20, 2026–99.28199.281
Aug 19, 2026–99.28199.281
Aug 18, 2026–99.28199.281
Aug 17, 2026–99.28199.281
Aug 14, 2026–99.25099.250
Aug 13, 2026–99.25099.250
Aug 12, 2026–99.21999.219

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 91282CDK4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 22, 2021Nov 30, 2021New issue$59.0bn$63.9bn2.34x1.319%

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.