Treasury note

91282CFU0 · 4.125% due October 31, 2027

Original term
5-Year
Maturity
Oct 31, 2027
Coupon
4.125%
Pays
Semi-Annual
Dated
Oct 31, 2022
First coupon
Apr 30, 2023
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$42.61bn
Held stripped
$1.6m
Share stripped
<0.01%

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
4.291%
Modified duration
1.085 yr
DV01
0.0110
Convexity
1.732
Dirty price
101.303

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 1.109 years against a modified duration of 1.085.

Against the fitted curve

Priced 1.3 bp cheap to the curve on that day, 1.46 cents per 100 of face.

That is 0.73 standard deviations from its own typical residual.

Yield to maturity, 966 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Oct 31, 2022Sep 9, 2026Oct 31, 2022Yield to maturity4.265%Nov 7, 2022Yield to maturity4.386%Nov 15, 2022Yield to maturity3.929%Nov 22, 2022Yield to maturity3.977%Nov 30, 2022Yield to maturity3.864%Dec 7, 2022Yield to maturity3.667%Dec 14, 2022Yield to maturity3.679%Dec 21, 2022Yield to maturity3.825%Dec 29, 2022Yield to maturity3.988%Jan 6, 2023Yield to maturity3.730%Jan 13, 2023Yield to maturity3.643%Jan 23, 2023Yield to maturity3.648%Jan 30, 2023Yield to maturity3.725%Feb 6, 2023Yield to maturity3.861%Feb 13, 2023Yield to maturity3.977%Feb 21, 2023Yield to maturity4.220%Feb 28, 2023Yield to maturity4.251%Mar 7, 2023Yield to maturity4.394%Mar 14, 2023Yield to maturity3.864%Mar 21, 2023Yield to maturity3.818%Mar 28, 2023Yield to maturity3.713%Apr 4, 2023Yield to maturity3.461%Apr 11, 2023Yield to maturity3.606%Apr 18, 2023Yield to maturity3.762%Apr 25, 2023Yield to maturity3.498%May 2, 2023Yield to maturity3.518%May 9, 2023Yield to maturity3.561%May 16, 2023Yield to maturity3.581%May 23, 2023Yield to maturity3.831%May 31, 2023Yield to maturity3.860%Jun 7, 2023Yield to maturity4.038%Jun 14, 2023Yield to maturity4.171%Jun 22, 2023Yield to maturity4.156%Jun 29, 2023Yield to maturity4.267%Jul 7, 2023Yield to maturity4.462%Jul 14, 2023Yield to maturity4.156%Jul 21, 2023Yield to maturity4.221%Jul 28, 2023Yield to maturity4.310%Aug 4, 2023Yield to maturity4.254%Aug 11, 2023Yield to maturity4.411%Aug 18, 2023Yield to maturity4.487%Aug 25, 2023Yield to maturity4.556%Sep 1, 2023Yield to maturity4.415%Sep 11, 2023Yield to maturity4.534%Sep 18, 2023Yield to maturity4.596%Sep 25, 2023Yield to maturity4.718%Oct 2, 2023Yield to maturity4.798%Oct 10, 2023Yield to maturity4.689%Oct 17, 2023Yield to maturity4.936%Oct 24, 2023Yield to maturity4.870%Oct 31, 2023Yield to maturity4.864%Nov 7, 2023Yield to maturity4.611%Nov 14, 2023Yield to maturity4.490%Nov 21, 2023Yield to maturity4.500%Nov 29, 2023Yield to maturity4.317%Dec 6, 2023Yield to maturity4.238%Dec 13, 2023Yield to maturity4.106%Dec 20, 2023Yield to maturity3.983%Dec 28, 2023Yield to maturity3.947%Jan 5, 2024Yield to maturity4.106%Jan 12, 2024Yield to maturity3.900%Jan 22, 2024Yield to maturity4.096%Jan 29, 2024Yield to maturity4.042%Feb 5, 2024Yield to maturity4.215%Feb 12, 2024Yield to maturity4.215%Feb 20, 2024Yield to maturity4.346%Feb 27, 2024Yield to maturity4.440%Mar 5, 2024Yield to maturity4.264%Mar 12, 2024Yield to maturity4.293%Mar 19, 2024Yield to maturity4.436%Mar 26, 2024Yield to maturity4.361%Apr 2, 2024Yield to maturity4.478%Apr 9, 2024Yield to maturity4.509%Apr 16, 2024Yield to maturity4.805%Apr 23, 2024Yield to maturity4.739%Apr 30, 2024Yield to maturity4.852%May 7, 2024Yield to maturity4.606%May 14, 2024Yield to maturity4.579%May 21, 2024Yield to maturity4.561%May 29, 2024Yield to maturity4.755%Jun 5, 2024Yield to maturity4.464%Jun 12, 2024Yield to maturity4.476%Jun 20, 2024Yield to maturity4.427%Jun 27, 2024Yield to maturity4.459%Jul 5, 2024Yield to maturity4.359%Jul 12, 2024Yield to maturity4.216%Jul 19, 2024Yield to maturity4.257%Jul 26, 2024Yield to maturity4.175%Aug 2, 2024Yield to maturity3.679%Aug 9, 2024Yield to maturity3.884%Aug 16, 2024Yield to maturity3.861%Aug 23, 2024Yield to maturity3.724%Aug 30, 2024Yield to maturity3.795%Sep 9, 2024Yield to maturity3.540%Sep 16, 2024Yield to maturity3.442%Sep 23, 2024Yield to maturity3.502%Sep 30, 2024Yield to maturity3.595%Oct 7, 2024Yield to maturity3.906%Oct 15, 2024Yield to maturity3.872%Oct 22, 2024Yield to maturity3.992%Oct 29, 2024Yield to maturity4.091%Nov 5, 2024Yield to maturity4.158%Nov 13, 2024Yield to maturity4.261%Nov 20, 2024Yield to maturity4.261%Nov 27, 2024Yield to maturity4.158%Dec 5, 2024Yield to maturity4.101%Dec 12, 2024Yield to maturity4.158%Dec 19, 2024Yield to maturity4.346%Dec 27, 2024Yield to maturity4.360%Jan 6, 2025Yield to maturity4.314%Jan 13, 2025Yield to maturity4.472%Jan 21, 2025Yield to maturity4.304%Jan 28, 2025Yield to maturity4.232%Feb 4, 2025Yield to maturity4.233%Feb 11, 2025Yield to maturity4.295%Feb 19, 2025Yield to maturity4.284%Feb 26, 2025Yield to maturity4.048%Mar 5, 2025Yield to maturity4.010%Mar 12, 2025Yield to maturity3.997%Mar 19, 2025Yield to maturity3.971%Mar 26, 2025Yield to maturity4.021%Apr 2, 2025Yield to maturity3.905%Apr 9, 2025Yield to maturity3.930%Apr 16, 2025Yield to maturity3.772%Apr 23, 2025Yield to maturity3.875%Apr 30, 2025Yield to maturity3.584%May 7, 2025Yield to maturity3.778%May 14, 2025Yield to maturity4.057%May 21, 2025Yield to maturity4.002%May 29, 2025Yield to maturity3.932%Jun 5, 2025Yield to maturity3.917%Jun 12, 2025Yield to maturity3.901%Jun 20, 2025Yield to maturity3.899%Jun 27, 2025Yield to maturity3.756%Jul 7, 2025Yield to maturity3.895%Jul 14, 2025Yield to maturity3.878%Jul 21, 2025Yield to maturity3.833%Jul 28, 2025Yield to maturity3.904%Aug 4, 2025Yield to maturity3.682%Aug 11, 2025Yield to maturity3.752%Aug 18, 2025Yield to maturity3.749%Aug 25, 2025Yield to maturity3.716%Sep 2, 2025Yield to maturity3.667%Sep 9, 2025Yield to maturity3.542%Sep 16, 2025Yield to maturity3.506%Sep 23, 2025Yield to maturity3.594%Sep 30, 2025Yield to maturity3.605%Oct 7, 2025Yield to maturity3.585%Oct 15, 2025Yield to maturity3.500%Oct 22, 2025Yield to maturity3.447%Oct 29, 2025Yield to maturity3.603%Nov 5, 2025Yield to maturity3.631%Nov 13, 2025Yield to maturity3.592%Nov 20, 2025Yield to maturity3.553%Nov 28, 2025Yield to maturity3.511%Dec 5, 2025Yield to maturity3.573%Dec 12, 2025Yield to maturity3.550%Dec 19, 2025Yield to maturity3.492%Dec 29, 2025Yield to maturity3.484%Jan 6, 2026Yield to maturity3.477%Jan 13, 2026Yield to maturity3.542%Jan 21, 2026Yield to maturity3.608%Jan 28, 2026Yield to maturity3.602%Feb 4, 2026Yield to maturity3.578%Feb 11, 2026Yield to maturity3.516%Feb 19, 2026Yield to maturity3.489%Feb 26, 2026Yield to maturity3.482%Mar 5, 2026Yield to maturity3.592%Mar 12, 2026Yield to maturity3.764%Mar 19, 2026Yield to maturity3.841%Mar 26, 2026Yield to maturity4.021%Apr 2, 2026Yield to maturity3.834%Apr 9, 2026Yield to maturity3.810%Apr 16, 2026Yield to maturity3.807%Apr 23, 2026Yield to maturity3.846%Apr 30, 2026Yield to maturity3.886%May 7, 2026Yield to maturity3.905%May 14, 2026Yield to maturity3.968%May 21, 2026Yield to maturity4.033%May 29, 2026Yield to maturity3.985%Jun 5, 2026Yield to maturity4.122%Jun 12, 2026Yield to maturity4.051%Jun 22, 2026Yield to maturity4.242%Jun 29, 2026Yield to maturity4.121%Jul 7, 2026Yield to maturity4.170%Jul 14, 2026Yield to maturity4.146%Jul 21, 2026Yield to maturity4.222%Jul 28, 2026Yield to maturity4.224%Aug 4, 2026Yield to maturity4.147%Aug 11, 2026Yield to maturity4.147%Aug 18, 2026Yield to maturity4.094%Aug 25, 2026Yield to maturity4.121%Sep 1, 2026Yield to maturity4.316%Sep 9, 2026Yield to maturity4.291%

Price history

966 trading days to Sep 9, 2026

9698100102104Oct 31, 2022Sep 9, 2026Oct 31, 2022Close99.375Nov 7, 2022Close98.844Nov 15, 2022Close100.875Nov 22, 2022Close100.656Nov 30, 2022Close101.156Dec 7, 2022Close102.031Dec 14, 2022Close101.969Dec 21, 2022Close101.313Dec 29, 2022Close100.594Jan 6, 2023Close101.719Jan 13, 2023Close102.094Jan 23, 2023Close102.063Jan 30, 2023Close101.719Feb 6, 2023Close101.125Feb 13, 2023Close100.625Feb 21, 2023Close99.594Feb 28, 2023Close99.469Mar 7, 2023Close98.875Mar 14, 2023Close101.094Mar 21, 2023Close101.281Mar 28, 2023Close101.719Apr 4, 2023Close102.781Apr 11, 2023Close102.156Apr 18, 2023Close101.500Apr 25, 2023Close102.594May 2, 2023Close102.500May 9, 2023Close102.313May 16, 2023Close102.219May 23, 2023Close101.188May 31, 2023Close101.063Jun 7, 2023Close100.344Jun 14, 2023Close99.813Jun 22, 2023Close99.875Jun 29, 2023Close99.438Jul 7, 2023Close98.688Jul 14, 2023Close99.875Jul 21, 2023Close99.625Jul 28, 2023Close99.281Aug 4, 2023Close99.500Aug 11, 2023Close98.906Aug 18, 2023Close98.625Aug 25, 2023Close98.375Sep 1, 2023Close98.906Sep 11, 2023Close98.469Sep 18, 2023Close98.250Sep 25, 2023Close97.813Oct 2, 2023Close97.531Oct 10, 2023Close97.938Oct 17, 2023Close97.063Oct 24, 2023Close97.313Oct 31, 2023Close97.344Nov 7, 2023Close98.250Nov 14, 2023Close98.688Nov 21, 2023Close98.656Nov 29, 2023Close99.313Dec 6, 2023Close99.594Dec 13, 2023Close100.063Dec 20, 2023Close100.500Dec 28, 2023Close100.625Jan 5, 2024Close100.063Jan 12, 2024Close100.781Jan 22, 2024Close100.094Jan 29, 2024Close100.281Feb 5, 2024Close99.688Feb 12, 2024Close99.688Feb 20, 2024Close99.250Feb 27, 2024Close98.938Mar 5, 2024Close99.531Mar 12, 2024Close99.438Mar 19, 2024Close98.969Mar 26, 2024Close99.219Apr 2, 2024Close98.844Apr 9, 2024Close98.750Apr 16, 2024Close97.813Apr 23, 2024Close98.031Apr 30, 2024Close97.688May 7, 2024Close98.469May 14, 2024Close98.563May 21, 2024Close98.625May 29, 2024Close98.031Jun 5, 2024Close98.938Jun 12, 2024Close98.906Jun 20, 2024Close99.063Jun 27, 2024Close98.969Jul 5, 2024Close99.281Jul 12, 2024Close99.719Jul 19, 2024Close99.594Jul 26, 2024Close99.844Aug 2, 2024Close101.344Aug 9, 2024Close100.719Aug 16, 2024Close100.781Aug 23, 2024Close101.188Aug 30, 2024Close100.969Sep 9, 2024Close101.719Sep 16, 2024Close102.000Sep 23, 2024Close101.813Sep 30, 2024Close101.531Oct 7, 2024Close100.625Oct 15, 2024Close100.719Oct 22, 2024Close100.375Oct 29, 2024Close100.094Nov 5, 2024Close99.906Nov 13, 2024Close99.625Nov 20, 2024Close99.625Nov 27, 2024Close99.906Dec 5, 2024Close100.063Dec 12, 2024Close99.906Dec 19, 2024Close99.406Dec 27, 2024Close99.375Jan 6, 2025Close99.500Jan 13, 2025Close99.094Jan 21, 2025Close99.531Jan 28, 2025Close99.719Feb 4, 2025Close99.719Feb 11, 2025Close99.563Feb 19, 2025Close99.594Feb 26, 2025Close100.188Mar 5, 2025Close100.281Mar 12, 2025Close100.313Mar 19, 2025Close100.375Mar 26, 2025Close100.250Apr 2, 2025Close100.531Apr 9, 2025Close100.469Apr 16, 2025Close100.844Apr 23, 2025Close100.594Apr 30, 2025Close101.281May 7, 2025Close100.813May 14, 2025Close100.156May 21, 2025Close100.281May 29, 2025Close100.438Jun 5, 2025Close100.469Jun 12, 2025Close100.500Jun 20, 2025Close100.500Jun 27, 2025Close100.813Jul 7, 2025Close100.500Jul 14, 2025Close100.531Jul 21, 2025Close100.625Jul 28, 2025Close100.469Aug 4, 2025Close100.938Aug 11, 2025Close100.781Aug 18, 2025Close100.781Aug 25, 2025Close100.844Sep 2, 2025Close100.938Sep 9, 2025Close101.188Sep 16, 2025Close101.250Sep 23, 2025Close101.063Sep 30, 2025Close101.031Oct 7, 2025Close101.063Oct 15, 2025Close101.219Oct 22, 2025Close101.313Oct 29, 2025Close101.000Nov 5, 2025Close100.938Nov 13, 2025Close101.000Nov 20, 2025Close101.063Nov 28, 2025Close101.125Dec 5, 2025Close101.000Dec 12, 2025Close101.031Dec 19, 2025Close101.125Dec 29, 2025Close101.125Jan 6, 2026Close101.125Jan 13, 2026Close101.000Jan 21, 2026Close100.875Jan 28, 2026Close100.875Feb 4, 2026Close100.906Feb 11, 2026Close101.000Feb 19, 2026Close101.031Feb 26, 2026Close101.031Mar 5, 2026Close100.844Mar 12, 2026Close100.563Mar 19, 2026Close100.438Mar 26, 2026Close100.156Apr 2, 2026Close100.438Apr 9, 2026Close100.469Apr 16, 2026Close100.469Apr 23, 2026Close100.406Apr 30, 2026Close100.344May 7, 2026Close100.313May 14, 2026Close100.219May 21, 2026Close100.125May 29, 2026Close100.188Jun 5, 2026Close100.000Jun 12, 2026Close100.094Jun 22, 2026Close99.844Jun 29, 2026Close100.000Jul 7, 2026Close99.938Jul 14, 2026Close99.969Jul 21, 2026Close99.875Jul 28, 2026Close99.875Aug 4, 2026Close99.969Aug 11, 2026Close99.969Aug 18, 2026Close100.031Aug 25, 2026Close100.000Sep 1, 2026Close99.781Sep 9, 2026Close99.813
The most recent 20 trading days of prices for 91282CFU0.
DateBidOfferClose
Sep 9, 202699.82899.81399.813
Sep 8, 202699.84499.84499.844
Sep 4, 202699.85999.84499.844
Sep 3, 202699.89199.87599.875
Sep 2, 202699.82899.81399.813
Sep 1, 202699.82899.81399.781
Aug 31, 202699.85999.84499.844
Aug 28, 202699.85999.84499.844
Aug 27, 202699.98499.96999.969
Aug 26, 202699.98499.96999.969
Aug 25, 2026100.000100.000100.000
Aug 24, 202699.98499.96999.969
Aug 21, 202699.98499.96999.969
Aug 20, 2026100.031100.031100.031
Aug 19, 2026100.016100.000100.031
Aug 18, 2026100.031100.031100.031
Aug 17, 2026100.047100.031100.000
Aug 14, 2026100.063100.063100.031
Aug 13, 2026100.063100.063100.063
Aug 12, 2026100.016100.00099.969

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 91282CFU0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 26, 2022Oct 31, 2022New issue$43.0bn$43.0bn2.48x4.192%

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.