Treasury note

91282CES6 · 2.75% due May 31, 2029

Original term
7-Year
Maturity
May 31, 2029
Coupon
2.750%
Pays
Semi-Annual
Dated
May 31, 2022
First coupon
Nov 30, 2022
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$46.20bn
Held stripped
$32.8m
Share stripped
0.07%

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
4.499%
Modified duration
2.561 yr
DV01
0.0247
Convexity
7.982
Dirty price
96.329

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 2.617 years against a modified duration of 2.561.

Against the fitted curve

Priced 1.6 bp rich to the curve on that day, 4.05 cents per 100 of face.

That is -0.92 standard deviations from its own typical residual.

Yield to maturity, 1,071 observations

2.50%3.00%3.50%4.00%4.50%5.00%5.50%May 31, 2022Sep 9, 2026May 31, 2022Yield to maturity2.874%Jun 7, 2022Yield to maturity3.025%Jun 14, 2022Yield to maturity3.599%Jun 22, 2022Yield to maturity3.241%Jun 29, 2022Yield to maturity3.181%Jul 7, 2022Yield to maturity3.074%Jul 14, 2022Yield to maturity3.054%Jul 21, 2022Yield to maturity2.998%Jul 28, 2022Yield to maturity2.714%Aug 4, 2022Yield to maturity2.750%Aug 11, 2022Yield to maturity2.969%Aug 18, 2022Yield to maturity3.001%Aug 25, 2022Yield to maturity3.163%Sep 1, 2022Yield to maturity3.413%Sep 9, 2022Yield to maturity3.470%Sep 16, 2022Yield to maturity3.607%Sep 23, 2022Yield to maturity3.913%Sep 30, 2022Yield to maturity4.040%Oct 7, 2022Yield to maturity4.101%Oct 17, 2022Yield to maturity4.224%Oct 24, 2022Yield to maturity4.373%Oct 31, 2022Yield to maturity4.250%Nov 7, 2022Yield to maturity4.376%Nov 15, 2022Yield to maturity3.931%Nov 22, 2022Yield to maturity3.928%Nov 30, 2022Yield to maturity3.818%Dec 7, 2022Yield to maturity3.595%Dec 14, 2022Yield to maturity3.631%Dec 21, 2022Yield to maturity3.809%Dec 29, 2022Yield to maturity3.962%Jan 6, 2023Yield to maturity3.679%Jan 13, 2023Yield to maturity3.596%Jan 23, 2023Yield to maturity3.604%Jan 30, 2023Yield to maturity3.664%Feb 6, 2023Yield to maturity3.776%Feb 13, 2023Yield to maturity3.890%Feb 21, 2023Yield to maturity4.137%Feb 28, 2023Yield to maturity4.129%Mar 7, 2023Yield to maturity4.241%Mar 14, 2023Yield to maturity3.791%Mar 21, 2023Yield to maturity3.753%Mar 28, 2023Yield to maturity3.662%Apr 4, 2023Yield to maturity3.431%Apr 11, 2023Yield to maturity3.549%Apr 18, 2023Yield to maturity3.688%Apr 25, 2023Yield to maturity3.460%May 2, 2023Yield to maturity3.492%May 9, 2023Yield to maturity3.547%May 16, 2023Yield to maturity3.567%May 23, 2023Yield to maturity3.774%May 31, 2023Yield to maturity3.759%Jun 7, 2023Yield to maturity3.946%Jun 14, 2023Yield to maturity4.036%Jun 22, 2023Yield to maturity4.003%Jun 29, 2023Yield to maturity4.094%Jul 7, 2023Yield to maturity4.314%Jul 14, 2023Yield to maturity4.015%Jul 21, 2023Yield to maturity4.057%Jul 28, 2023Yield to maturity4.175%Aug 4, 2023Yield to maturity4.160%Aug 11, 2023Yield to maturity4.318%Aug 18, 2023Yield to maturity4.394%Aug 25, 2023Yield to maturity4.439%Sep 1, 2023Yield to maturity4.320%Sep 11, 2023Yield to maturity4.430%Sep 18, 2023Yield to maturity4.482%Sep 25, 2023Yield to maturity4.660%Oct 2, 2023Yield to maturity4.767%Oct 10, 2023Yield to maturity4.687%Oct 17, 2023Yield to maturity4.918%Oct 24, 2023Yield to maturity4.883%Oct 31, 2023Yield to maturity4.897%Nov 7, 2023Yield to maturity4.603%Nov 14, 2023Yield to maturity4.480%Nov 21, 2023Yield to maturity4.465%Nov 29, 2023Yield to maturity4.296%Dec 6, 2023Yield to maturity4.179%Dec 13, 2023Yield to maturity4.063%Dec 20, 2023Yield to maturity3.907%Dec 28, 2023Yield to maturity3.891%Jan 5, 2024Yield to maturity4.058%Jan 12, 2024Yield to maturity3.887%Jan 22, 2024Yield to maturity4.054%Jan 29, 2024Yield to maturity4.003%Feb 5, 2024Yield to maturity4.151%Feb 12, 2024Yield to maturity4.156%Feb 20, 2024Yield to maturity4.280%Feb 27, 2024Yield to maturity4.348%Mar 5, 2024Yield to maturity4.164%Mar 12, 2024Yield to maturity4.183%Mar 19, 2024Yield to maturity4.329%Mar 26, 2024Yield to maturity4.249%Apr 2, 2024Yield to maturity4.376%Apr 9, 2024Yield to maturity4.396%Apr 16, 2024Yield to maturity4.714%Apr 23, 2024Yield to maturity4.647%Apr 30, 2024Yield to maturity4.742%May 7, 2024Yield to maturity4.499%May 14, 2024Yield to maturity4.484%May 21, 2024Yield to maturity4.453%May 29, 2024Yield to maturity4.660%Jun 5, 2024Yield to maturity4.326%Jun 12, 2024Yield to maturity4.339%Jun 20, 2024Yield to maturity4.294%Jun 27, 2024Yield to maturity4.329%Jul 5, 2024Yield to maturity4.248%Jul 12, 2024Yield to maturity4.127%Jul 19, 2024Yield to maturity4.192%Jul 26, 2024Yield to maturity4.100%Aug 2, 2024Yield to maturity3.640%Aug 9, 2024Yield to maturity3.827%Aug 16, 2024Yield to maturity3.794%Aug 23, 2024Yield to maturity3.680%Aug 30, 2024Yield to maturity3.758%Sep 9, 2024Yield to maturity3.524%Sep 16, 2024Yield to maturity3.439%Sep 23, 2024Yield to maturity3.530%Sep 30, 2024Yield to maturity3.608%Oct 7, 2024Yield to maturity3.892%Oct 15, 2024Yield to maturity3.882%Oct 22, 2024Yield to maturity4.025%Oct 29, 2024Yield to maturity4.132%Nov 5, 2024Yield to maturity4.192%Nov 13, 2024Yield to maturity4.326%Nov 20, 2024Yield to maturity4.300%Nov 27, 2024Yield to maturity4.164%Dec 5, 2024Yield to maturity4.098%Dec 12, 2024Yield to maturity4.199%Dec 19, 2024Yield to maturity4.440%Dec 27, 2024Yield to maturity4.458%Jan 6, 2025Yield to maturity4.416%Jan 13, 2025Yield to maturity4.605%Jan 21, 2025Yield to maturity4.398%Jan 28, 2025Yield to maturity4.330%Feb 4, 2025Yield to maturity4.320%Feb 11, 2025Yield to maturity4.377%Feb 19, 2025Yield to maturity4.368%Feb 26, 2025Yield to maturity4.081%Mar 5, 2025Yield to maturity4.070%Mar 12, 2025Yield to maturity4.068%Mar 19, 2025Yield to maturity4.023%Mar 26, 2025Yield to maturity4.071%Apr 2, 2025Yield to maturity3.933%Apr 9, 2025Yield to maturity4.031%Apr 16, 2025Yield to maturity3.867%Apr 23, 2025Yield to maturity3.966%Apr 30, 2025Yield to maturity3.672%May 7, 2025Yield to maturity3.822%May 14, 2025Yield to maturity4.130%May 21, 2025Yield to maturity4.093%May 29, 2025Yield to maturity3.968%Jun 5, 2025Yield to maturity3.965%Jun 12, 2025Yield to maturity3.935%Jun 20, 2025Yield to maturity3.916%Jun 27, 2025Yield to maturity3.780%Jul 7, 2025Yield to maturity3.910%Jul 14, 2025Yield to maturity3.924%Jul 21, 2025Yield to maturity3.857%Jul 28, 2025Yield to maturity3.917%Aug 4, 2025Yield to maturity3.687%Aug 11, 2025Yield to maturity3.773%Aug 18, 2025Yield to maturity3.787%Aug 25, 2025Yield to maturity3.728%Sep 2, 2025Yield to maturity3.669%Sep 9, 2025Yield to maturity3.544%Sep 16, 2025Yield to maturity3.539%Sep 23, 2025Yield to maturity3.617%Sep 30, 2025Yield to maturity3.668%Oct 7, 2025Yield to maturity3.636%Oct 15, 2025Yield to maturity3.556%Oct 22, 2025Yield to maturity3.494%Oct 29, 2025Yield to maturity3.640%Nov 5, 2025Yield to maturity3.693%Nov 13, 2025Yield to maturity3.641%Nov 20, 2025Yield to maturity3.597%Nov 28, 2025Yield to maturity3.526%Dec 5, 2025Yield to maturity3.618%Dec 12, 2025Yield to maturity3.632%Dec 19, 2025Yield to maturity3.577%Dec 29, 2025Yield to maturity3.552%Jan 6, 2026Yield to maturity3.577%Jan 13, 2026Yield to maturity3.622%Jan 21, 2026Yield to maturity3.698%Jan 28, 2026Yield to maturity3.693%Feb 4, 2026Yield to maturity3.688%Feb 11, 2026Yield to maturity3.611%Feb 19, 2026Yield to maturity3.523%Feb 26, 2026Yield to maturity3.476%Mar 5, 2026Yield to maturity3.616%Mar 12, 2026Yield to maturity3.790%Mar 19, 2026Yield to maturity3.817%Mar 26, 2026Yield to maturity4.017%Apr 2, 2026Yield to maturity3.841%Apr 9, 2026Yield to maturity3.815%Apr 16, 2026Yield to maturity3.810%Apr 23, 2026Yield to maturity3.860%Apr 30, 2026Yield to maturity3.922%May 7, 2026Yield to maturity3.952%May 14, 2026Yield to maturity4.049%May 21, 2026Yield to maturity4.148%May 29, 2026Yield to maturity4.069%Jun 5, 2026Yield to maturity4.227%Jun 12, 2026Yield to maturity4.143%Jun 22, 2026Yield to maturity4.258%Jun 29, 2026Yield to maturity4.115%Jul 7, 2026Yield to maturity4.219%Jul 14, 2026Yield to maturity4.241%Jul 21, 2026Yield to maturity4.298%Jul 28, 2026Yield to maturity4.308%Aug 4, 2026Yield to maturity4.245%Aug 11, 2026Yield to maturity4.292%Aug 18, 2026Yield to maturity4.253%Aug 25, 2026Yield to maturity4.250%Sep 1, 2026Yield to maturity4.448%Sep 9, 2026Yield to maturity4.499%

Price history

1,071 trading days to Sep 9, 2026

87.590.092.595.097.5100.0102.5May 31, 2022Sep 9, 2026May 31, 2022Close99.219Jun 7, 2022Close98.281Jun 14, 2022Close94.813Jun 22, 2022Close96.969Jun 29, 2022Close97.344Jul 7, 2022Close98.000Jul 14, 2022Close98.125Jul 21, 2022Close98.469Jul 28, 2022Close100.219Aug 4, 2022Close100.000Aug 11, 2022Close98.656Aug 18, 2022Close98.469Aug 25, 2022Close97.500Sep 1, 2022Close96.031Sep 9, 2022Close95.719Sep 16, 2022Close94.938Sep 23, 2022Close93.219Sep 30, 2022Close92.531Oct 7, 2022Close92.219Oct 17, 2022Close91.563Oct 24, 2022Close90.781Oct 31, 2022Close91.469Nov 7, 2022Close90.813Nov 15, 2022Close93.250Nov 22, 2022Close93.281Nov 30, 2022Close93.906Dec 7, 2022Close95.156Dec 14, 2022Close94.969Dec 21, 2022Close94.000Dec 29, 2022Close93.188Jan 6, 2023Close94.750Jan 13, 2023Close95.219Jan 23, 2023Close95.188Jan 30, 2023Close94.875Feb 6, 2023Close94.281Feb 13, 2023Close93.688Feb 21, 2023Close92.406Feb 28, 2023Close92.469Mar 7, 2023Close91.906Mar 14, 2023Close94.281Mar 21, 2023Close94.500Mar 28, 2023Close95.000Apr 4, 2023Close96.250Apr 11, 2023Close95.625Apr 18, 2023Close94.906Apr 25, 2023Close96.125May 2, 2023Close95.969May 9, 2023Close95.688May 16, 2023Close95.594May 23, 2023Close94.531May 31, 2023Close94.625Jun 7, 2023Close93.688Jun 14, 2023Close93.250Jun 22, 2023Close93.438Jun 29, 2023Close93.000Jul 7, 2023Close91.938Jul 14, 2023Close93.438Jul 21, 2023Close93.250Jul 28, 2023Close92.688Aug 4, 2023Close92.781Aug 11, 2023Close92.031Aug 18, 2023Close91.688Aug 25, 2023Close91.500Sep 1, 2023Close92.094Sep 11, 2023Close91.594Sep 18, 2023Close91.375Sep 25, 2023Close90.563Oct 2, 2023Close90.094Oct 10, 2023Close90.500Oct 17, 2023Close89.469Oct 24, 2023Close89.656Oct 31, 2023Close89.625Nov 7, 2023Close91.000Nov 14, 2023Close91.594Nov 21, 2023Close91.688Nov 29, 2023Close92.500Dec 6, 2023Close93.063Dec 13, 2023Close93.625Dec 20, 2023Close94.375Dec 28, 2023Close94.469Jan 5, 2024Close93.719Jan 12, 2024Close94.531Jan 22, 2024Close93.781Jan 29, 2024Close94.031Feb 5, 2024Close93.375Feb 12, 2024Close93.375Feb 20, 2024Close92.844Feb 27, 2024Close92.563Mar 5, 2024Close93.406Mar 12, 2024Close93.344Mar 19, 2024Close92.719Mar 26, 2024Close93.094Apr 2, 2024Close92.563Apr 9, 2024Close92.500Apr 16, 2024Close91.156Apr 23, 2024Close91.469Apr 30, 2024Close91.094May 7, 2024Close92.156May 14, 2024Close92.250May 21, 2024Close92.406May 29, 2024Close91.563Jun 5, 2024Close93.000Jun 12, 2024Close92.969Jun 20, 2024Close93.188Jun 27, 2024Close93.063Jul 5, 2024Close93.438Jul 12, 2024Close93.969Jul 19, 2024Close93.719Jul 26, 2024Close94.125Aug 2, 2024Close96.094Aug 9, 2024Close95.313Aug 16, 2024Close95.469Aug 23, 2024Close95.969Aug 30, 2024Close95.656Sep 9, 2024Close96.656Sep 16, 2024Close97.031Sep 23, 2024Close96.656Sep 30, 2024Close96.344Oct 7, 2024Close95.188Oct 15, 2024Close95.250Oct 22, 2024Close94.688Oct 29, 2024Close94.281Nov 5, 2024Close94.063Nov 13, 2024Close93.563Nov 20, 2024Close93.688Nov 27, 2024Close94.250Dec 5, 2024Close94.531Dec 12, 2024Close94.156Dec 19, 2024Close93.250Dec 27, 2024Close93.219Jan 6, 2025Close93.406Jan 13, 2025Close92.719Jan 21, 2025Close93.531Jan 28, 2025Close93.813Feb 4, 2025Close93.875Feb 11, 2025Close93.688Feb 19, 2025Close93.750Feb 26, 2025Close94.844Mar 5, 2025Close94.906Mar 12, 2025Close94.938Mar 19, 2025Close95.125Mar 26, 2025Close94.969Apr 2, 2025Close95.500Apr 9, 2025Close95.156Apr 16, 2025Close95.781Apr 23, 2025Close95.438Apr 30, 2025Close96.531May 7, 2025Close96.000May 14, 2025Close94.906May 21, 2025Close95.063May 29, 2025Close95.531Jun 5, 2025Close95.563Jun 12, 2025Close95.688Jun 20, 2025Close95.781Jun 27, 2025Close96.281Jul 7, 2025Close95.844Jul 14, 2025Close95.813Jul 21, 2025Close96.063Jul 28, 2025Close95.875Aug 4, 2025Close96.688Aug 11, 2025Close96.406Aug 18, 2025Close96.375Aug 25, 2025Close96.594Sep 2, 2025Close96.813Sep 9, 2025Close97.250Sep 16, 2025Close97.281Sep 23, 2025Close97.031Sep 30, 2025Close96.875Oct 7, 2025Close97.000Oct 15, 2025Close97.281Oct 22, 2025Close97.500Oct 29, 2025Close97.031Nov 5, 2025Close96.875Nov 13, 2025Close97.063Nov 20, 2025Close97.219Nov 28, 2025Close97.469Dec 5, 2025Close97.188Dec 12, 2025Close97.156Dec 19, 2025Close97.344Dec 29, 2025Close97.438Jan 6, 2026Close97.375Jan 13, 2026Close97.250Jan 21, 2026Close97.031Jan 28, 2026Close97.063Feb 4, 2026Close97.094Feb 11, 2026Close97.344Feb 19, 2026Close97.625Feb 26, 2026Close97.781Mar 5, 2026Close97.375Mar 12, 2026Close96.875Mar 19, 2026Close96.813Mar 26, 2026Close96.250Apr 2, 2026Close96.781Apr 9, 2026Close96.875Apr 16, 2026Close96.906Apr 23, 2026Close96.781Apr 30, 2026Close96.625May 7, 2026Close96.563May 14, 2026Close96.313May 21, 2026Close96.063May 29, 2026Close96.313Jun 5, 2026Close95.906Jun 12, 2026Close96.156Jun 22, 2026Close95.875Jun 29, 2026Close96.281Jul 7, 2026Close96.031Jul 14, 2026Close96.000Jul 21, 2026Close95.875Jul 28, 2026Close95.875Aug 4, 2026Close96.063Aug 11, 2026Close95.969Aug 18, 2026Close96.094Aug 25, 2026Close96.125Sep 1, 2026Close95.656Sep 9, 2026Close95.563
The most recent 20 trading days of prices for 91282CES6.
DateBidOfferClose
Sep 9, 202695.57895.56395.563
Sep 8, 202695.67295.65695.656
Sep 4, 202695.73495.71995.688
Sep 3, 202695.82895.81395.781
Sep 2, 202695.67295.65695.656
Sep 1, 202695.73495.71995.656
Aug 31, 202695.79795.78195.781
Aug 28, 202695.84495.81395.750
Aug 27, 202696.07896.06396.031
Aug 26, 202696.07896.06396.063
Aug 25, 202696.12596.09496.125
Aug 24, 202696.04796.03195.969
Aug 21, 202695.98495.96995.969
Aug 20, 202696.07896.06396.094
Aug 19, 202696.10996.09496.125
Aug 18, 202696.10996.09496.094
Aug 17, 202696.14196.12596.094
Aug 14, 202696.17296.15696.125
Aug 13, 202696.20396.18896.188
Aug 12, 202696.07896.06396.031

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 91282CES6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 26, 2022May 31, 2022New issue$42.0bn$48.3bn2.69x2.777%

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.