Treasury note

91282CDL2 · 1.5% due November 30, 2028

Original term
7-Year
Maturity
Nov 30, 2028
Coupon
1.500%
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
$62.73bn
Held stripped
$111.6m
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
4.471%
Modified duration
2.135 yr
DV01
0.0201
Convexity
5.657
Dirty price
94.199

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 5 of twelve buckets, summing to 2.184 years against a modified duration of 2.135.

Against the fitted curve

Priced 0.1 bp rich to the curve on that day, 0.22 cents per 100 of face.

That is -0.03 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 maturity1.359%Dec 7, 2021Yield to maturity1.429%Dec 14, 2021Yield to maturity1.391%Dec 21, 2021Yield to maturity1.396%Dec 29, 2021Yield to maturity1.462%Jan 5, 2022Yield to maturity1.620%Jan 12, 2022Yield to maturity1.669%Jan 20, 2022Yield to maturity1.772%Jan 27, 2022Yield to maturity1.788%Feb 3, 2022Yield to maturity1.788%Feb 10, 2022Yield to maturity2.044%Feb 17, 2022Yield to maturity1.955%Feb 25, 2022Yield to maturity1.967%Mar 4, 2022Yield to maturity1.712%Mar 11, 2022Yield to maturity2.025%Mar 18, 2022Yield to maturity2.186%Mar 25, 2022Yield to maturity2.587%Apr 1, 2022Yield to maturity2.531%Apr 8, 2022Yield to maturity2.819%Apr 18, 2022Yield to maturity2.878%Apr 25, 2022Yield to maturity2.877%May 2, 2022Yield to maturity3.069%May 9, 2022Yield to maturity3.057%May 16, 2022Yield to maturity2.905%May 23, 2022Yield to maturity2.931%May 31, 2022Yield to maturity2.897%Jun 7, 2022Yield to maturity3.052%Jun 14, 2022Yield to maturity3.628%Jun 22, 2022Yield to maturity3.273%Jun 29, 2022Yield to maturity3.209%Jul 7, 2022Yield to maturity3.106%Jul 14, 2022Yield to maturity3.093%Jul 21, 2022Yield to maturity3.029%Jul 28, 2022Yield to maturity2.737%Aug 4, 2022Yield to maturity2.775%Aug 11, 2022Yield to maturity2.996%Aug 18, 2022Yield to maturity3.035%Aug 25, 2022Yield to maturity3.191%Sep 1, 2022Yield to maturity3.433%Sep 9, 2022Yield to maturity3.483%Sep 16, 2022Yield to maturity3.635%Sep 23, 2022Yield to maturity3.949%Sep 30, 2022Yield to maturity4.076%Oct 7, 2022Yield to maturity4.142%Oct 17, 2022Yield to maturity4.252%Oct 24, 2022Yield to maturity4.389%Oct 31, 2022Yield to maturity4.281%Nov 7, 2022Yield to maturity4.407%Nov 15, 2022Yield to maturity3.953%Nov 22, 2022Yield to maturity3.948%Nov 30, 2022Yield to maturity3.835%Dec 7, 2022Yield to maturity3.615%Dec 14, 2022Yield to maturity3.647%Dec 21, 2022Yield to maturity3.812%Dec 29, 2022Yield to maturity3.975%Jan 6, 2023Yield to maturity3.696%Jan 13, 2023Yield to maturity3.608%Jan 23, 2023Yield to maturity3.615%Jan 30, 2023Yield to maturity3.679%Feb 6, 2023Yield to maturity3.796%Feb 13, 2023Yield to maturity3.908%Feb 21, 2023Yield to maturity4.142%Feb 28, 2023Yield to maturity4.151%Mar 7, 2023Yield to maturity4.274%Mar 14, 2023Yield to maturity3.795%Mar 21, 2023Yield to maturity3.783%Mar 28, 2023Yield to maturity3.685%Apr 4, 2023Yield to maturity3.436%Apr 11, 2023Yield to maturity3.561%Apr 18, 2023Yield to maturity3.700%Apr 25, 2023Yield to maturity3.475%May 2, 2023Yield to maturity3.502%May 9, 2023Yield to maturity3.555%May 16, 2023Yield to maturity3.568%May 23, 2023Yield to maturity3.784%May 31, 2023Yield to maturity3.786%Jun 7, 2023Yield to maturity3.965%Jun 14, 2023Yield to maturity4.063%Jun 22, 2023Yield to maturity4.038%Jun 29, 2023Yield to maturity4.131%Jul 7, 2023Yield to maturity4.335%Jul 14, 2023Yield to maturity4.033%Jul 21, 2023Yield to maturity4.084%Jul 28, 2023Yield to maturity4.199%Aug 4, 2023Yield to maturity4.173%Aug 11, 2023Yield to maturity4.326%Aug 18, 2023Yield to maturity4.402%Aug 25, 2023Yield to maturity4.448%Sep 1, 2023Yield to maturity4.328%Sep 11, 2023Yield to maturity4.441%Sep 18, 2023Yield to maturity4.496%Sep 25, 2023Yield to maturity4.664%Oct 2, 2023Yield to maturity4.758%Oct 10, 2023Yield to maturity4.665%Oct 17, 2023Yield to maturity4.906%Oct 24, 2023Yield to maturity4.872%Oct 31, 2023Yield to maturity4.876%Nov 7, 2023Yield to maturity4.582%Nov 14, 2023Yield to maturity4.464%Nov 21, 2023Yield to maturity4.452%Nov 29, 2023Yield to maturity4.275%Dec 6, 2023Yield to maturity4.172%Dec 13, 2023Yield to maturity4.054%Dec 20, 2023Yield to maturity3.906%Dec 28, 2023Yield to maturity3.886%Jan 5, 2024Yield to maturity4.050%Jan 12, 2024Yield to maturity3.871%Jan 22, 2024Yield to maturity4.048%Jan 29, 2024Yield to maturity4.004%Feb 5, 2024Yield to maturity4.152%Feb 12, 2024Yield to maturity4.163%Feb 20, 2024Yield to maturity4.284%Feb 27, 2024Yield to maturity4.358%Mar 5, 2024Yield to maturity4.164%Mar 12, 2024Yield to maturity4.190%Mar 19, 2024Yield to maturity4.344%Mar 26, 2024Yield to maturity4.267%Apr 2, 2024Yield to maturity4.383%Apr 9, 2024Yield to maturity4.411%Apr 16, 2024Yield to maturity4.726%Apr 23, 2024Yield to maturity4.664%Apr 30, 2024Yield to maturity4.760%May 7, 2024Yield to maturity4.516%May 14, 2024Yield to maturity4.495%May 21, 2024Yield to maturity4.474%May 29, 2024Yield to maturity4.681%Jun 5, 2024Yield to maturity4.359%Jun 12, 2024Yield to maturity4.371%Jun 20, 2024Yield to maturity4.318%Jun 27, 2024Yield to maturity4.355%Jul 5, 2024Yield to maturity4.271%Jul 12, 2024Yield to maturity4.139%Jul 19, 2024Yield to maturity4.201%Jul 26, 2024Yield to maturity4.111%Aug 2, 2024Yield to maturity3.636%Aug 9, 2024Yield to maturity3.829%Aug 16, 2024Yield to maturity3.814%Aug 23, 2024Yield to maturity3.697%Aug 30, 2024Yield to maturity3.759%Sep 9, 2024Yield to maturity3.524%Sep 16, 2024Yield to maturity3.440%Sep 23, 2024Yield to maturity3.516%Sep 30, 2024Yield to maturity3.602%Oct 7, 2024Yield to maturity3.906%Oct 15, 2024Yield to maturity3.883%Oct 22, 2024Yield to maturity4.017%Oct 29, 2024Yield to maturity4.126%Nov 5, 2024Yield to maturity4.192%Nov 13, 2024Yield to maturity4.315%Nov 20, 2024Yield to maturity4.301%Nov 27, 2024Yield to maturity4.170%Dec 5, 2024Yield to maturity4.110%Dec 12, 2024Yield to maturity4.204%Dec 19, 2024Yield to maturity4.421%Dec 27, 2024Yield to maturity4.441%Jan 6, 2025Yield to maturity4.400%Jan 13, 2025Yield to maturity4.585%Jan 21, 2025Yield to maturity4.383%Jan 28, 2025Yield to maturity4.312%Feb 4, 2025Yield to maturity4.307%Feb 11, 2025Yield to maturity4.359%Feb 19, 2025Yield to maturity4.346%Feb 26, 2025Yield to maturity4.072%Mar 5, 2025Yield to maturity4.056%Mar 12, 2025Yield to maturity4.050%Mar 19, 2025Yield to maturity4.005%Mar 26, 2025Yield to maturity4.056%Apr 2, 2025Yield to maturity3.923%Apr 9, 2025Yield to maturity4.004%Apr 16, 2025Yield to maturity3.841%Apr 23, 2025Yield to maturity3.932%Apr 30, 2025Yield to maturity3.639%May 7, 2025Yield to maturity3.799%May 14, 2025Yield to maturity4.101%May 21, 2025Yield to maturity4.055%May 29, 2025Yield to maturity3.949%Jun 5, 2025Yield to maturity3.941%Jun 12, 2025Yield to maturity3.904%Jun 20, 2025Yield to maturity3.891%Jun 27, 2025Yield to maturity3.760%Jul 7, 2025Yield to maturity3.899%Jul 14, 2025Yield to maturity3.891%Jul 21, 2025Yield to maturity3.831%Jul 28, 2025Yield to maturity3.897%Aug 4, 2025Yield to maturity3.668%Aug 11, 2025Yield to maturity3.754%Aug 18, 2025Yield to maturity3.756%Aug 25, 2025Yield to maturity3.705%Sep 2, 2025Yield to maturity3.644%Sep 9, 2025Yield to maturity3.528%Sep 16, 2025Yield to maturity3.507%Sep 23, 2025Yield to maturity3.595%Sep 30, 2025Yield to maturity3.640%Oct 7, 2025Yield to maturity3.609%Oct 15, 2025Yield to maturity3.524%Oct 22, 2025Yield to maturity3.459%Oct 29, 2025Yield to maturity3.616%Nov 5, 2025Yield to maturity3.663%Nov 13, 2025Yield to maturity3.610%Nov 20, 2025Yield to maturity3.566%Nov 28, 2025Yield to maturity3.504%Dec 5, 2025Yield to maturity3.598%Dec 12, 2025Yield to maturity3.600%Dec 19, 2025Yield to maturity3.543%Dec 29, 2025Yield to maturity3.523%Jan 6, 2026Yield to maturity3.538%Jan 13, 2026Yield to maturity3.587%Jan 21, 2026Yield to maturity3.651%Jan 28, 2026Yield to maturity3.653%Feb 4, 2026Yield to maturity3.631%Feb 11, 2026Yield to maturity3.559%Feb 19, 2026Yield to maturity3.501%Feb 26, 2026Yield to maturity3.453%Mar 5, 2026Yield to maturity3.591%Mar 12, 2026Yield to maturity3.770%Mar 19, 2026Yield to maturity3.799%Mar 26, 2026Yield to maturity4.008%Apr 2, 2026Yield to maturity3.819%Apr 9, 2026Yield to maturity3.809%Apr 16, 2026Yield to maturity3.800%Apr 23, 2026Yield to maturity3.843%Apr 30, 2026Yield to maturity3.900%May 7, 2026Yield to maturity3.945%May 14, 2026Yield to maturity4.031%May 21, 2026Yield to maturity4.132%May 29, 2026Yield to maturity4.050%Jun 5, 2026Yield to maturity4.209%Jun 12, 2026Yield to maturity4.131%Jun 22, 2026Yield to maturity4.268%Jun 29, 2026Yield to maturity4.118%Jul 7, 2026Yield to maturity4.214%Jul 14, 2026Yield to maturity4.221%Jul 21, 2026Yield to maturity4.286%Jul 28, 2026Yield to maturity4.309%Aug 4, 2026Yield to maturity4.242%Aug 11, 2026Yield to maturity4.265%Aug 18, 2026Yield to maturity4.228%Aug 25, 2026Yield to maturity4.220%Sep 1, 2026Yield to maturity4.427%Sep 9, 2026Yield to maturity4.471%

Price history

1,196 trading days to Sep 9, 2026

80859095100105Nov 30, 2021Sep 9, 2026Nov 30, 2021Close100.938Dec 7, 2021Close100.469Dec 14, 2021Close100.719Dec 21, 2021Close100.688Dec 29, 2021Close100.250Jan 5, 2022Close99.219Jan 12, 2022Close98.906Jan 20, 2022Close98.250Jan 27, 2022Close98.156Feb 3, 2022Close98.156Feb 10, 2022Close96.563Feb 17, 2022Close97.125Feb 25, 2022Close97.063Mar 4, 2022Close98.656Mar 11, 2022Close96.719Mar 18, 2022Close95.750Mar 25, 2022Close93.375Apr 1, 2022Close93.719Apr 8, 2022Close92.063Apr 18, 2022Close91.750Apr 25, 2022Close91.781May 2, 2022Close90.719May 9, 2022Close90.813May 16, 2022Close91.688May 23, 2022Close91.563May 31, 2022Close91.781Jun 7, 2022Close90.938Jun 14, 2022Close87.844Jun 22, 2022Close89.781Jun 29, 2022Close90.156Jul 7, 2022Close90.750Jul 14, 2022Close90.844Jul 21, 2022Close91.219Jul 28, 2022Close92.844Aug 4, 2022Close92.656Aug 11, 2022Close91.469Aug 18, 2022Close91.281Aug 25, 2022Close90.469Sep 1, 2022Close89.219Sep 9, 2022Close89.000Sep 16, 2022Close88.250Sep 23, 2022Close86.688Sep 30, 2022Close86.094Oct 7, 2022Close85.813Oct 17, 2022Close85.313Oct 24, 2022Close84.688Oct 31, 2022Close85.250Nov 7, 2022Close84.688Nov 15, 2022Close86.938Nov 22, 2022Close87.000Nov 30, 2022Close87.594Dec 7, 2022Close88.719Dec 14, 2022Close88.594Dec 21, 2022Close87.813Dec 29, 2022Close87.063Jan 6, 2023Close88.469Jan 13, 2023Close88.938Jan 23, 2023Close88.938Jan 30, 2023Close88.656Feb 6, 2023Close88.125Feb 13, 2023Close87.625Feb 21, 2023Close86.563Feb 28, 2023Close86.563Mar 7, 2023Close86.031Mar 14, 2023Close88.313Mar 21, 2023Close88.406Mar 28, 2023Close88.906Apr 4, 2023Close90.125Apr 11, 2023Close89.563Apr 18, 2023Close88.938Apr 25, 2023Close90.031May 2, 2023Close89.938May 9, 2023Close89.719May 16, 2023Close89.688May 23, 2023Close88.719May 31, 2023Close88.750Jun 7, 2023Close87.969Jun 14, 2023Close87.563Jun 22, 2023Close87.719Jun 29, 2023Close87.344Jul 7, 2023Close86.500Jul 14, 2023Close87.875Jul 21, 2023Close87.688Jul 28, 2023Close87.219Aug 4, 2023Close87.375Aug 11, 2023Close86.750Aug 18, 2023Close86.469Aug 25, 2023Close86.313Sep 1, 2023Close86.875Sep 11, 2023Close86.438Sep 18, 2023Close86.250Sep 25, 2023Close85.594Oct 2, 2023Close85.250Oct 10, 2023Close85.688Oct 17, 2023Close84.750Oct 24, 2023Close84.938Oct 31, 2023Close84.969Nov 7, 2023Close86.219Nov 14, 2023Close86.750Nov 21, 2023Close86.844Nov 29, 2023Close87.625Dec 6, 2023Close88.094Dec 13, 2023Close88.625Dec 20, 2023Close89.281Dec 28, 2023Close89.406Jan 5, 2024Close88.781Jan 12, 2024Close89.563Jan 22, 2024Close88.875Jan 29, 2024Close89.094Feb 5, 2024Close88.531Feb 12, 2024Close88.531Feb 20, 2024Close88.094Feb 27, 2024Close87.844Mar 5, 2024Close88.656Mar 12, 2024Close88.594Mar 19, 2024Close88.031Mar 26, 2024Close88.375Apr 2, 2024Close87.969Apr 9, 2024Close87.906Apr 16, 2024Close86.750Apr 23, 2024Close87.031Apr 30, 2024Close86.719May 7, 2024Close87.688May 14, 2024Close87.813May 21, 2024Close87.938May 29, 2024Close87.219Jun 5, 2024Close88.469Jun 12, 2024Close88.469Jun 20, 2024Close88.719Jun 27, 2024Close88.625Jul 5, 2024Close89.000Jul 12, 2024Close89.531Jul 19, 2024Close89.344Jul 26, 2024Close89.719Aug 2, 2024Close91.531Aug 9, 2024Close90.844Aug 16, 2024Close90.938Aug 23, 2024Close91.406Aug 30, 2024Close91.219Sep 9, 2024Close92.125Sep 16, 2024Close92.469Sep 23, 2024Close92.219Sep 30, 2024Close91.938Oct 7, 2024Close90.875Oct 15, 2024Close91.000Oct 22, 2024Close90.563Oct 29, 2024Close90.219Nov 5, 2024Close90.031Nov 13, 2024Close89.656Nov 20, 2024Close89.750Nov 27, 2024Close90.250Dec 5, 2024Close90.500Dec 12, 2024Close90.219Dec 19, 2024Close89.531Dec 27, 2024Close89.531Jan 6, 2025Close89.719Jan 13, 2025Close89.156Jan 21, 2025Close89.875Jan 28, 2025Close90.156Feb 4, 2025Close90.219Feb 11, 2025Close90.094Feb 19, 2025Close90.188Feb 26, 2025Close91.125Mar 5, 2025Close91.219Mar 12, 2025Close91.281Mar 19, 2025Close91.469Mar 26, 2025Close91.344Apr 2, 2025Close91.813Apr 9, 2025Close91.594Apr 16, 2025Close92.156Apr 23, 2025Close91.906Apr 30, 2025Close92.875May 7, 2025Close92.406May 14, 2025Close91.500May 21, 2025Close91.688May 29, 2025Close92.063Jun 5, 2025Close92.125Jun 12, 2025Close92.281Jun 20, 2025Close92.375Jun 27, 2025Close92.813Jul 7, 2025Close92.438Jul 14, 2025Close92.500Jul 21, 2025Close92.719Jul 28, 2025Close92.563Aug 4, 2025Close93.281Aug 11, 2025Close93.063Aug 18, 2025Close93.094Aug 25, 2025Close93.281Sep 2, 2025Close93.500Sep 9, 2025Close93.875Sep 16, 2025Close93.969Sep 23, 2025Close93.750Sep 30, 2025Close93.656Oct 7, 2025Close93.781Oct 15, 2025Close94.063Oct 22, 2025Close94.281Oct 29, 2025Close93.875Nov 5, 2025Close93.781Nov 13, 2025Close93.969Nov 20, 2025Close94.125Nov 28, 2025Close94.344Dec 5, 2025Close94.125Dec 12, 2025Close94.156Dec 19, 2025Close94.344Dec 29, 2025Close94.438Jan 6, 2026Close94.438Jan 13, 2026Close94.344Jan 21, 2026Close94.219Jan 28, 2026Close94.250Feb 4, 2026Close94.344Feb 11, 2026Close94.563Feb 19, 2026Close94.750Feb 26, 2026Close94.906Mar 5, 2026Close94.594Mar 12, 2026Close94.188Mar 19, 2026Close94.156Mar 26, 2026Close93.688Apr 2, 2026Close94.188Apr 9, 2026Close94.250Apr 16, 2026Close94.313Apr 23, 2026Close94.250Apr 30, 2026Close94.156May 7, 2026Close94.094May 14, 2026Close93.938May 21, 2026Close93.750May 29, 2026Close94.000Jun 5, 2026Close93.688Jun 12, 2026Close93.906Jun 22, 2026Close93.656Jun 29, 2026Close94.031Jul 7, 2026Close93.875Jul 14, 2026Close93.906Jul 21, 2026Close93.813Jul 28, 2026Close93.813Aug 4, 2026Close94.000Aug 11, 2026Close94.000Aug 18, 2026Close94.125Aug 25, 2026Close94.188Sep 1, 2026Close93.813Sep 9, 2026Close93.781
The most recent 20 trading days of prices for 91282CDL2.
DateBidOfferClose
Sep 9, 202693.79793.78193.781
Sep 8, 202693.89193.87593.844
Sep 4, 202693.92293.90693.875
Sep 3, 202693.98493.96993.938
Sep 2, 202693.85993.84493.844
Sep 1, 202693.89193.87593.813
Aug 31, 202693.92293.90693.906
Aug 28, 202693.95393.93893.875
Aug 27, 202694.17294.15694.125
Aug 26, 202694.17294.15694.125
Aug 25, 202694.17294.15694.188
Aug 24, 202694.10994.09494.063
Aug 21, 202694.06394.03194.063
Aug 20, 202694.14194.12594.156
Aug 19, 202694.14194.12594.156
Aug 18, 202694.17294.15694.125
Aug 17, 202694.17294.15694.125
Aug 14, 202694.20394.18894.156
Aug 13, 202694.18894.18894.188
Aug 12, 202694.09494.06394.063

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 91282CDL2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 23, 2021Nov 30, 2021New issue$59.0bn$63.9bn2.42x1.588%

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.