Treasury note

91282CET4 · 2.625% due May 31, 2027

Original term
5-Year
Maturity
May 31, 2027
Coupon
2.625%
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
$52.23bn
Held stripped
$8.0m
Share stripped
0.02%

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
4.131%
Modified duration
0.700 yr
DV01
0.0070
Convexity
0.837
Dirty price
99.669

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 3 of twelve buckets, summing to 0.714 years against a modified duration of 0.700.

Against the fitted curve

Priced 1.3 bp rich to the curve on that day, 0.91 cents per 100 of face.

That is -0.81 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 maturity2.814%Jun 7, 2022Yield to maturity2.992%Jun 14, 2022Yield to maturity3.610%Jun 22, 2022Yield to maturity3.225%Jun 29, 2022Yield to maturity3.164%Jul 7, 2022Yield to maturity3.047%Jul 14, 2022Yield to maturity3.069%Jul 21, 2022Yield to maturity3.000%Jul 28, 2022Yield to maturity2.694%Aug 4, 2022Yield to maturity2.771%Aug 11, 2022Yield to maturity2.983%Aug 18, 2022Yield to maturity3.027%Aug 25, 2022Yield to maturity3.187%Sep 1, 2022Yield to maturity3.423%Sep 9, 2022Yield to maturity3.472%Sep 16, 2022Yield to maturity3.654%Sep 23, 2022Yield to maturity4.007%Sep 30, 2022Yield to maturity4.097%Oct 7, 2022Yield to maturity4.166%Oct 17, 2022Yield to maturity4.281%Oct 24, 2022Yield to maturity4.382%Oct 31, 2022Yield to maturity4.294%Nov 7, 2022Yield to maturity4.428%Nov 15, 2022Yield to maturity3.961%Nov 22, 2022Yield to maturity4.021%Nov 30, 2022Yield to maturity3.894%Dec 7, 2022Yield to maturity3.710%Dec 14, 2022Yield to maturity3.714%Dec 21, 2022Yield to maturity3.845%Dec 29, 2022Yield to maturity4.011%Jan 6, 2023Yield to maturity3.762%Jan 13, 2023Yield to maturity3.679%Jan 23, 2023Yield to maturity3.683%Jan 30, 2023Yield to maturity3.760%Feb 6, 2023Yield to maturity3.904%Feb 13, 2023Yield to maturity4.025%Feb 21, 2023Yield to maturity4.265%Feb 28, 2023Yield to maturity4.298%Mar 7, 2023Yield to maturity4.458%Mar 14, 2023Yield to maturity3.924%Mar 21, 2023Yield to maturity3.871%Mar 28, 2023Yield to maturity3.750%Apr 4, 2023Yield to maturity3.496%Apr 11, 2023Yield to maturity3.651%Apr 18, 2023Yield to maturity3.799%Apr 25, 2023Yield to maturity3.525%May 2, 2023Yield to maturity3.563%May 9, 2023Yield to maturity3.601%May 16, 2023Yield to maturity3.614%May 23, 2023Yield to maturity3.879%May 31, 2023Yield to maturity3.903%Jun 7, 2023Yield to maturity4.076%Jun 14, 2023Yield to maturity4.226%Jun 22, 2023Yield to maturity4.216%Jun 29, 2023Yield to maturity4.332%Jul 7, 2023Yield to maturity4.518%Jul 14, 2023Yield to maturity4.214%Jul 21, 2023Yield to maturity4.277%Jul 28, 2023Yield to maturity4.377%Aug 4, 2023Yield to maturity4.311%Aug 11, 2023Yield to maturity4.460%Aug 18, 2023Yield to maturity4.525%Aug 25, 2023Yield to maturity4.610%Sep 1, 2023Yield to maturity4.469%Sep 11, 2023Yield to maturity4.574%Sep 18, 2023Yield to maturity4.641%Sep 25, 2023Yield to maturity4.759%Oct 2, 2023Yield to maturity4.838%Oct 10, 2023Yield to maturity4.723%Oct 17, 2023Yield to maturity4.962%Oct 24, 2023Yield to maturity4.884%Oct 31, 2023Yield to maturity4.886%Nov 7, 2023Yield to maturity4.636%Nov 14, 2023Yield to maturity4.526%Nov 21, 2023Yield to maturity4.536%Nov 29, 2023Yield to maturity4.356%Dec 6, 2023Yield to maturity4.274%Dec 13, 2023Yield to maturity4.151%Dec 20, 2023Yield to maturity4.028%Dec 28, 2023Yield to maturity3.986%Jan 5, 2024Yield to maturity4.139%Jan 12, 2024Yield to maturity3.912%Jan 22, 2024Yield to maturity4.126%Jan 29, 2024Yield to maturity4.071%Feb 5, 2024Yield to maturity4.236%Feb 12, 2024Yield to maturity4.245%Feb 20, 2024Yield to maturity4.384%Feb 27, 2024Yield to maturity4.480%Mar 5, 2024Yield to maturity4.307%Mar 12, 2024Yield to maturity4.349%Mar 19, 2024Yield to maturity4.468%Mar 26, 2024Yield to maturity4.391%Apr 2, 2024Yield to maturity4.523%Apr 9, 2024Yield to maturity4.545%Apr 16, 2024Yield to maturity4.839%Apr 23, 2024Yield to maturity4.772%Apr 30, 2024Yield to maturity4.889%May 7, 2024Yield to maturity4.649%May 14, 2024Yield to maturity4.627%May 21, 2024Yield to maturity4.616%May 29, 2024Yield to maturity4.794%Jun 5, 2024Yield to maturity4.526%Jun 12, 2024Yield to maturity4.537%Jun 20, 2024Yield to maturity4.492%Jun 27, 2024Yield to maturity4.527%Jul 5, 2024Yield to maturity4.412%Jul 12, 2024Yield to maturity4.256%Jul 19, 2024Yield to maturity4.314%Jul 26, 2024Yield to maturity4.216%Aug 2, 2024Yield to maturity3.731%Aug 9, 2024Yield to maturity3.920%Aug 16, 2024Yield to maturity3.904%Aug 23, 2024Yield to maturity3.766%Aug 30, 2024Yield to maturity3.824%Sep 9, 2024Yield to maturity3.559%Sep 16, 2024Yield to maturity3.467%Sep 23, 2024Yield to maturity3.510%Sep 30, 2024Yield to maturity3.604%Oct 7, 2024Yield to maturity3.930%Oct 15, 2024Yield to maturity3.889%Oct 22, 2024Yield to maturity4.002%Oct 29, 2024Yield to maturity4.091%Nov 5, 2024Yield to maturity4.168%Nov 13, 2024Yield to maturity4.261%Nov 20, 2024Yield to maturity4.287%Nov 27, 2024Yield to maturity4.206%Dec 5, 2024Yield to maturity4.136%Dec 12, 2024Yield to maturity4.188%Dec 19, 2024Yield to maturity4.353%Dec 27, 2024Yield to maturity4.358%Jan 6, 2025Yield to maturity4.302%Jan 13, 2025Yield to maturity4.444%Jan 21, 2025Yield to maturity4.301%Jan 28, 2025Yield to maturity4.213%Feb 4, 2025Yield to maturity4.226%Feb 11, 2025Yield to maturity4.298%Feb 19, 2025Yield to maturity4.299%Feb 26, 2025Yield to maturity4.073%Mar 5, 2025Yield to maturity4.010%Mar 12, 2025Yield to maturity4.007%Mar 19, 2025Yield to maturity3.988%Mar 26, 2025Yield to maturity4.030%Apr 2, 2025Yield to maturity3.919%Apr 9, 2025Yield to maturity3.930%Apr 16, 2025Yield to maturity3.784%Apr 23, 2025Yield to maturity3.890%Apr 30, 2025Yield to maturity3.614%May 7, 2025Yield to maturity3.800%May 14, 2025Yield to maturity4.056%May 21, 2025Yield to maturity4.004%May 29, 2025Yield to maturity3.969%Jun 5, 2025Yield to maturity3.947%Jun 12, 2025Yield to maturity3.926%Jun 20, 2025Yield to maturity3.909%Jun 27, 2025Yield to maturity3.783%Jul 7, 2025Yield to maturity3.936%Jul 14, 2025Yield to maturity3.913%Jul 21, 2025Yield to maturity3.873%Jul 28, 2025Yield to maturity3.958%Aug 4, 2025Yield to maturity3.717%Aug 11, 2025Yield to maturity3.783%Aug 18, 2025Yield to maturity3.795%Aug 25, 2025Yield to maturity3.751%Sep 2, 2025Yield to maturity3.708%Sep 9, 2025Yield to maturity3.605%Sep 16, 2025Yield to maturity3.558%Sep 23, 2025Yield to maturity3.627%Sep 30, 2025Yield to maturity3.658%Oct 7, 2025Yield to maturity3.610%Oct 15, 2025Yield to maturity3.543%Oct 22, 2025Yield to maturity3.493%Oct 29, 2025Yield to maturity3.648%Nov 5, 2025Yield to maturity3.660%Nov 13, 2025Yield to maturity3.632%Nov 20, 2025Yield to maturity3.602%Nov 28, 2025Yield to maturity3.554%Dec 5, 2025Yield to maturity3.610%Dec 12, 2025Yield to maturity3.556%Dec 19, 2025Yield to maturity3.500%Dec 29, 2025Yield to maturity3.490%Jan 6, 2026Yield to maturity3.503%Jan 13, 2026Yield to maturity3.538%Jan 21, 2026Yield to maturity3.601%Jan 28, 2026Yield to maturity3.590%Feb 4, 2026Yield to maturity3.579%Feb 11, 2026Yield to maturity3.543%Feb 19, 2026Yield to maturity3.533%Feb 26, 2026Yield to maturity3.521%Mar 5, 2026Yield to maturity3.613%Mar 12, 2026Yield to maturity3.762%Mar 19, 2026Yield to maturity3.835%Mar 26, 2026Yield to maturity3.993%Apr 2, 2026Yield to maturity3.790%Apr 9, 2026Yield to maturity3.810%Apr 16, 2026Yield to maturity3.772%Apr 23, 2026Yield to maturity3.792%Apr 30, 2026Yield to maturity3.813%May 7, 2026Yield to maturity3.835%May 14, 2026Yield to maturity3.857%May 21, 2026Yield to maturity3.944%May 29, 2026Yield to maturity3.915%Jun 5, 2026Yield to maturity3.973%Jun 12, 2026Yield to maturity3.965%Jun 22, 2026Yield to maturity4.134%Jun 29, 2026Yield to maturity4.059%Jul 7, 2026Yield to maturity4.093%Jul 14, 2026Yield to maturity4.088%Jul 21, 2026Yield to maturity4.120%Jul 28, 2026Yield to maturity4.153%Aug 4, 2026Yield to maturity4.109%Aug 11, 2026Yield to maturity4.063%Aug 18, 2026Yield to maturity4.016%Aug 25, 2026Yield to maturity4.050%Sep 1, 2026Yield to maturity4.173%Sep 9, 2026Yield to maturity4.131%

Price history

1,071 trading days to Sep 9, 2026

92949698100May 31, 2022Sep 9, 2026May 31, 2022Close99.125Jun 7, 2022Close98.313Jun 14, 2022Close95.563Jun 22, 2022Close97.281Jun 29, 2022Close97.563Jul 7, 2022Close98.094Jul 14, 2022Close98.000Jul 21, 2022Close98.313Jul 28, 2022Close99.688Aug 4, 2022Close99.344Aug 11, 2022Close98.406Aug 18, 2022Close98.219Aug 25, 2022Close97.531Sep 1, 2022Close96.531Sep 9, 2022Close96.344Sep 16, 2022Close95.594Sep 23, 2022Close94.156Sep 30, 2022Close93.813Oct 7, 2022Close93.563Oct 17, 2022Close93.125Oct 24, 2022Close92.750Oct 31, 2022Close93.125Nov 7, 2022Close92.625Nov 15, 2022Close94.500Nov 22, 2022Close94.281Nov 30, 2022Close94.813Dec 7, 2022Close95.563Dec 14, 2022Close95.563Dec 21, 2022Close95.063Dec 29, 2022Close94.438Jan 6, 2023Close95.438Jan 13, 2023Close95.781Jan 23, 2023Close95.781Jan 30, 2023Close95.500Feb 6, 2023Close94.969Feb 13, 2023Close94.531Feb 21, 2023Close93.656Feb 28, 2023Close93.563Mar 7, 2023Close93.000Mar 14, 2023Close95.000Mar 21, 2023Close95.219Mar 28, 2023Close95.688Apr 4, 2023Close96.656Apr 11, 2023Close96.094Apr 18, 2023Close95.563Apr 25, 2023Close96.594May 2, 2023Close96.469May 9, 2023Close96.344May 16, 2023Close96.313May 23, 2023Close95.375May 31, 2023Close95.313Jun 7, 2023Close94.719Jun 14, 2023Close94.219Jun 22, 2023Close94.281Jun 29, 2023Close93.906Jul 7, 2023Close93.313Jul 14, 2023Close94.375Jul 21, 2023Close94.188Jul 28, 2023Close93.875Aug 4, 2023Close94.125Aug 11, 2023Close93.656Aug 18, 2023Close93.469Aug 25, 2023Close93.219Sep 1, 2023Close93.719Sep 11, 2023Close93.406Sep 18, 2023Close93.219Sep 25, 2023Close92.875Oct 2, 2023Close92.656Oct 10, 2023Close93.063Oct 17, 2023Close92.344Oct 24, 2023Close92.625Oct 31, 2023Close92.656Nov 7, 2023Close93.469Nov 14, 2023Close93.844Nov 21, 2023Close93.844Nov 29, 2023Close94.438Dec 6, 2023Close94.719Dec 13, 2023Close95.125Dec 20, 2023Close95.531Dec 28, 2023Close95.688Jan 5, 2024Close95.250Jan 12, 2024Close95.969Jan 22, 2024Close95.344Jan 29, 2024Close95.531Feb 5, 2024Close95.063Feb 12, 2024Close95.063Feb 20, 2024Close94.688Feb 27, 2024Close94.438Mar 5, 2024Close94.969Mar 12, 2024Close94.875Mar 19, 2024Close94.563Mar 26, 2024Close94.813Apr 2, 2024Close94.469Apr 9, 2024Close94.438Apr 16, 2024Close93.656Apr 23, 2024Close93.875Apr 30, 2024Close93.594May 7, 2024Close94.281May 14, 2024Close94.375May 21, 2024Close94.438May 29, 2024Close94.000Jun 5, 2024Close94.750Jun 12, 2024Close94.750Jun 20, 2024Close94.906Jun 27, 2024Close94.844Jul 5, 2024Close95.188Jul 12, 2024Close95.625Jul 19, 2024Close95.500Jul 26, 2024Close95.781Aug 2, 2024Close97.063Aug 9, 2024Close96.594Aug 16, 2024Close96.656Aug 23, 2024Close97.031Aug 30, 2024Close96.906Sep 9, 2024Close97.594Sep 16, 2024Close97.844Sep 23, 2024Close97.750Sep 30, 2024Close97.531Oct 7, 2024Close96.750Oct 15, 2024Close96.875Oct 22, 2024Close96.625Oct 29, 2024Close96.438Nov 5, 2024Close96.281Nov 13, 2024Close96.094Nov 20, 2024Close96.063Nov 27, 2024Close96.281Dec 5, 2024Close96.469Dec 12, 2024Close96.375Dec 19, 2024Close96.031Dec 27, 2024Close96.063Jan 6, 2025Close96.219Jan 13, 2025Close95.938Jan 21, 2025Close96.281Jan 28, 2025Close96.500Feb 4, 2025Close96.500Feb 11, 2025Close96.375Feb 19, 2025Close96.406Feb 26, 2025Close96.906Mar 5, 2025Close97.063Mar 12, 2025Close97.094Mar 19, 2025Close97.156Mar 26, 2025Close97.094Apr 2, 2025Close97.344Apr 9, 2025Close97.344Apr 16, 2025Close97.656Apr 23, 2025Close97.469Apr 30, 2025Close98.031May 7, 2025Close97.688May 14, 2025Close97.219May 21, 2025Close97.344May 29, 2025Close97.438Jun 5, 2025Close97.500Jun 12, 2025Close97.563Jun 20, 2025Close97.625Jun 27, 2025Close97.875Jul 7, 2025Close97.625Jul 14, 2025Close97.688Jul 21, 2025Close97.781Jul 28, 2025Close97.656Aug 4, 2025Close98.094Aug 11, 2025Close98.000Aug 18, 2025Close98.000Aug 25, 2025Close98.094Sep 2, 2025Close98.188Sep 9, 2025Close98.375Sep 16, 2025Close98.469Sep 23, 2025Close98.375Sep 30, 2025Close98.344Oct 7, 2025Close98.438Oct 15, 2025Close98.563Oct 22, 2025Close98.656Oct 29, 2025Close98.438Nov 5, 2025Close98.438Nov 13, 2025Close98.500Nov 20, 2025Close98.563Nov 28, 2025Close98.656Dec 5, 2025Close98.594Dec 12, 2025Close98.688Dec 19, 2025Close98.781Dec 29, 2025Close98.813Jan 6, 2026Close98.813Jan 13, 2026Close98.781Jan 21, 2026Close98.719Jan 28, 2026Close98.750Feb 4, 2026Close98.781Feb 11, 2026Close98.844Feb 19, 2026Close98.875Feb 26, 2026Close98.906Mar 5, 2026Close98.813Mar 12, 2026Close98.656Mar 19, 2026Close98.594Mar 26, 2026Close98.438Apr 2, 2026Close98.688Apr 9, 2026Close98.688Apr 16, 2026Close98.750Apr 23, 2026Close98.750Apr 30, 2026Close98.750May 7, 2026Close98.750May 14, 2026Close98.750May 21, 2026Close98.688May 29, 2026Close98.750Jun 5, 2026Close98.719Jun 12, 2026Close98.750Jun 22, 2026Close98.625Jun 29, 2026Close98.719Jul 7, 2026Close98.719Jul 14, 2026Close98.750Jul 21, 2026Close98.750Jul 28, 2026Close98.750Aug 4, 2026Close98.813Aug 11, 2026Close98.875Aug 18, 2026Close98.938Aug 25, 2026Close98.938Sep 1, 2026Close98.875Sep 9, 2026Close98.938
The most recent 20 trading days of prices for 91282CET4.
DateBidOfferClose
Sep 9, 202698.95398.93898.938
Sep 8, 202698.95398.93898.938
Sep 4, 202698.95398.93898.938
Sep 3, 202698.95398.93898.938
Sep 2, 202698.92298.90698.906
Sep 1, 202698.90698.90698.875
Aug 31, 202698.89198.87598.906
Aug 28, 202698.92298.90698.875
Aug 27, 202698.95398.93898.969
Aug 26, 202698.95398.93898.938
Aug 25, 202698.95398.93898.938
Aug 24, 202698.95398.93898.938
Aug 21, 202698.95398.93898.938
Aug 20, 202698.95398.93898.938
Aug 19, 202698.95398.93898.938
Aug 18, 202698.95398.93898.938
Aug 17, 202698.95398.93898.938
Aug 14, 202698.95398.93898.938
Aug 13, 202698.92298.90698.906
Aug 12, 202698.90698.90698.875

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 91282CET4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 25, 2022May 31, 2022New issue$48.0bn$55.2bn2.44x2.736%

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.