Treasury note

91282CGB1 · 3.875% due December 31, 2029

Original term
7-Year
Maturity
Dec 31, 2029
Coupon
3.875%
Pays
Semi-Annual
Dated
Dec 31, 2022
First coupon
Jun 30, 2023
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$34.28bn
Held stripped
$35.2m
Share stripped
0.10%

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
4.542%
Modified duration
3.039 yr
DV01
0.0300
Convexity
11.098
Dirty price
98.727

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 6 of twelve buckets, summing to 3.110 years against a modified duration of 3.039.

Against the fitted curve

Priced 1.5 bp rich to the curve on that day, 4.35 cents per 100 of face.

That is -1.36 standard deviations from its own typical residual.

Yield to maturity, 924 observations

3.00%3.50%4.00%4.50%5.00%5.50%Jan 3, 2023Sep 9, 2026Jan 3, 2023Yield to maturity3.885%Jan 9, 2023Yield to maturity3.599%Jan 13, 2023Yield to maturity3.553%Jan 20, 2023Yield to maturity3.517%Jan 26, 2023Yield to maturity3.551%Feb 1, 2023Yield to maturity3.439%Feb 7, 2023Yield to maturity3.781%Feb 13, 2023Yield to maturity3.843%Feb 17, 2023Yield to maturity3.958%Feb 24, 2023Yield to maturity4.118%Mar 2, 2023Yield to maturity4.257%Mar 8, 2023Yield to maturity4.199%Mar 14, 2023Yield to maturity3.748%Mar 20, 2023Yield to maturity3.566%Mar 24, 2023Yield to maturity3.415%Mar 30, 2023Yield to maturity3.632%Apr 5, 2023Yield to maturity3.362%Apr 11, 2023Yield to maturity3.506%Apr 17, 2023Yield to maturity3.662%Apr 21, 2023Yield to maturity3.635%Apr 27, 2023Yield to maturity3.598%May 3, 2023Yield to maturity3.388%May 9, 2023Yield to maturity3.529%May 15, 2023Yield to maturity3.502%May 19, 2023Yield to maturity3.761%May 25, 2023Yield to maturity3.912%Jun 1, 2023Yield to maturity3.697%Jun 7, 2023Yield to maturity3.918%Jun 13, 2023Yield to maturity3.979%Jun 20, 2023Yield to maturity3.897%Jun 26, 2023Yield to maturity3.897%Jun 30, 2023Yield to maturity4.029%Jul 7, 2023Yield to maturity4.276%Jul 13, 2023Yield to maturity3.897%Jul 19, 2023Yield to maturity3.919%Jul 25, 2023Yield to maturity4.109%Jul 31, 2023Yield to maturity4.138%Aug 4, 2023Yield to maturity4.149%Aug 10, 2023Yield to maturity4.207%Aug 16, 2023Yield to maturity4.414%Aug 22, 2023Yield to maturity4.479%Aug 28, 2023Yield to maturity4.370%Sep 1, 2023Yield to maturity4.308%Sep 8, 2023Yield to maturity4.396%Sep 14, 2023Yield to maturity4.426%Sep 20, 2023Yield to maturity4.509%Sep 26, 2023Yield to maturity4.653%Oct 2, 2023Yield to maturity4.769%Oct 6, 2023Yield to maturity4.819%Oct 13, 2023Yield to maturity4.701%Oct 19, 2023Yield to maturity5.031%Oct 25, 2023Yield to maturity4.997%Oct 31, 2023Yield to maturity4.913%Nov 6, 2023Yield to maturity4.684%Nov 10, 2023Yield to maturity4.710%Nov 16, 2023Yield to maturity4.500%Nov 22, 2023Yield to maturity4.489%Nov 29, 2023Yield to maturity4.305%Dec 5, 2023Yield to maturity4.210%Dec 11, 2023Yield to maturity4.301%Dec 15, 2023Yield to maturity3.963%Dec 21, 2023Yield to maturity3.922%Dec 28, 2023Yield to maturity3.887%Jan 4, 2024Yield to maturity4.011%Jan 10, 2024Yield to maturity4.035%Jan 17, 2024Yield to maturity4.078%Jan 23, 2024Yield to maturity4.102%Jan 29, 2024Yield to maturity4.024%Feb 2, 2024Yield to maturity4.030%Feb 8, 2024Yield to maturity4.164%Feb 14, 2024Yield to maturity4.287%Feb 21, 2024Yield to maturity4.338%Feb 27, 2024Yield to maturity4.351%Mar 4, 2024Yield to maturity4.247%Mar 8, 2024Yield to maturity4.094%Mar 14, 2024Yield to maturity4.323%Mar 20, 2024Yield to maturity4.287%Mar 26, 2024Yield to maturity4.257%Apr 1, 2024Yield to maturity4.352%Apr 5, 2024Yield to maturity4.404%Apr 11, 2024Yield to maturity4.622%Apr 17, 2024Yield to maturity4.630%Apr 23, 2024Yield to maturity4.638%Apr 29, 2024Yield to maturity4.666%May 3, 2024Yield to maturity4.500%May 9, 2024Yield to maturity4.482%May 15, 2024Yield to maturity4.368%May 21, 2024Yield to maturity4.447%May 28, 2024Yield to maturity4.585%Jun 3, 2024Yield to maturity4.437%Jun 7, 2024Yield to maturity4.465%Jun 13, 2024Yield to maturity4.251%Jun 20, 2024Yield to maturity4.272%Jun 26, 2024Yield to maturity4.352%Jul 2, 2024Yield to maturity4.412%Jul 9, 2024Yield to maturity4.263%Jul 15, 2024Yield to maturity4.159%Jul 19, 2024Yield to maturity4.186%Jul 25, 2024Yield to maturity4.180%Jul 31, 2024Yield to maturity3.991%Aug 6, 2024Yield to maturity3.765%Aug 12, 2024Yield to maturity3.777%Aug 16, 2024Yield to maturity3.796%Aug 22, 2024Yield to maturity3.751%Aug 28, 2024Yield to maturity3.699%Sep 4, 2024Yield to maturity3.614%Sep 10, 2024Yield to maturity3.477%Sep 16, 2024Yield to maturity3.457%Sep 20, 2024Yield to maturity3.533%Sep 26, 2024Yield to maturity3.598%Oct 2, 2024Yield to maturity3.584%Oct 8, 2024Yield to maturity3.894%Oct 15, 2024Yield to maturity3.887%Oct 21, 2024Yield to maturity4.002%Oct 25, 2024Yield to maturity4.097%Oct 31, 2024Yield to maturity4.173%Nov 6, 2024Yield to maturity4.305%Nov 13, 2024Yield to maturity4.327%Nov 19, 2024Yield to maturity4.273%Nov 25, 2024Yield to maturity4.198%Dec 2, 2024Yield to maturity4.108%Dec 6, 2024Yield to maturity4.061%Dec 12, 2024Yield to maturity4.200%Dec 18, 2024Yield to maturity4.413%Dec 24, 2024Yield to maturity4.458%Dec 31, 2024Yield to maturity4.396%Jan 7, 2025Yield to maturity4.476%Jan 13, 2025Yield to maturity4.622%Jan 17, 2025Yield to maturity4.429%Jan 24, 2025Yield to maturity4.445%Jan 30, 2025Yield to maturity4.331%Feb 5, 2025Yield to maturity4.260%Feb 11, 2025Yield to maturity4.384%Feb 18, 2025Yield to maturity4.415%Feb 24, 2025Yield to maturity4.249%Feb 28, 2025Yield to maturity4.047%Mar 6, 2025Yield to maturity4.083%Mar 12, 2025Yield to maturity4.091%Mar 18, 2025Yield to maturity4.084%Mar 24, 2025Yield to maturity4.107%Mar 28, 2025Yield to maturity3.983%Apr 3, 2025Yield to maturity3.751%Apr 9, 2025Yield to maturity4.057%Apr 15, 2025Yield to maturity3.984%Apr 21, 2025Yield to maturity3.955%Apr 25, 2025Yield to maturity3.881%May 1, 2025Yield to maturity3.808%May 7, 2025Yield to maturity3.859%May 13, 2025Yield to maturity4.121%May 19, 2025Yield to maturity4.062%May 23, 2025Yield to maturity4.085%May 30, 2025Yield to maturity3.965%Jun 5, 2025Yield to maturity3.988%Jun 11, 2025Yield to maturity4.003%Jun 17, 2025Yield to maturity3.974%Jun 24, 2025Yield to maturity3.844%Jun 30, 2025Yield to maturity3.776%Jul 7, 2025Yield to maturity3.944%Jul 11, 2025Yield to maturity3.967%Jul 17, 2025Yield to maturity3.983%Jul 23, 2025Yield to maturity3.913%Jul 29, 2025Yield to maturity3.882%Aug 4, 2025Yield to maturity3.719%Aug 8, 2025Yield to maturity3.804%Aug 14, 2025Yield to maturity3.788%Aug 20, 2025Yield to maturity3.772%Aug 26, 2025Yield to maturity3.709%Sep 2, 2025Yield to maturity3.708%Sep 8, 2025Yield to maturity3.543%Sep 12, 2025Yield to maturity3.604%Sep 18, 2025Yield to maturity3.635%Sep 24, 2025Yield to maturity3.690%Sep 30, 2025Yield to maturity3.705%Oct 6, 2025Yield to maturity3.713%Oct 10, 2025Yield to maturity3.616%Oct 17, 2025Yield to maturity3.551%Oct 23, 2025Yield to maturity3.566%Oct 29, 2025Yield to maturity3.670%Nov 4, 2025Yield to maturity3.661%Nov 10, 2025Yield to maturity3.677%Nov 17, 2025Yield to maturity3.684%Nov 21, 2025Yield to maturity3.577%Nov 28, 2025Yield to maturity3.559%Dec 4, 2025Yield to maturity3.625%Dec 10, 2025Yield to maturity3.665%Dec 16, 2025Yield to maturity3.623%Dec 22, 2025Yield to maturity3.639%Dec 29, 2025Yield to maturity3.596%Jan 5, 2026Yield to maturity3.628%Jan 9, 2026Yield to maturity3.678%Jan 15, 2026Yield to maturity3.695%Jan 22, 2026Yield to maturity3.771%Jan 28, 2026Yield to maturity3.753%Feb 3, 2026Yield to maturity3.744%Feb 9, 2026Yield to maturity3.657%Feb 13, 2026Yield to maturity3.525%Feb 20, 2026Yield to maturity3.576%Feb 26, 2026Yield to maturity3.523%Mar 4, 2026Yield to maturity3.618%Mar 10, 2026Yield to maturity3.670%Mar 16, 2026Yield to maturity3.749%Mar 20, 2026Yield to maturity3.973%Mar 26, 2026Yield to maturity4.063%Apr 1, 2026Yield to maturity3.910%Apr 7, 2026Yield to maturity3.901%Apr 13, 2026Yield to maturity3.855%Apr 17, 2026Yield to maturity3.773%Apr 23, 2026Yield to maturity3.901%Apr 29, 2026Yield to maturity4.003%May 5, 2026Yield to maturity4.022%May 11, 2026Yield to maturity4.023%May 15, 2026Yield to maturity4.203%May 21, 2026Yield to maturity4.185%May 28, 2026Yield to maturity4.111%Jun 3, 2026Yield to maturity4.179%Jun 9, 2026Yield to maturity4.218%Jun 15, 2026Yield to maturity4.143%Jun 22, 2026Yield to maturity4.271%Jun 26, 2026Yield to maturity4.107%Jul 2, 2026Yield to maturity4.196%Jul 9, 2026Yield to maturity4.226%Jul 15, 2026Yield to maturity4.208%Jul 21, 2026Yield to maturity4.329%Jul 27, 2026Yield to maturity4.380%Jul 31, 2026Yield to maturity4.393%Aug 6, 2026Yield to maturity4.344%Aug 12, 2026Yield to maturity4.305%Aug 18, 2026Yield to maturity4.297%Aug 24, 2026Yield to maturity4.340%Aug 28, 2026Yield to maturity4.434%Sep 3, 2026Yield to maturity4.446%Sep 9, 2026Yield to maturity4.542%

Price history

924 trading days to Sep 9, 2026

92949698100102104Jan 3, 2023Sep 9, 2026Jan 3, 2023Close99.938Jan 9, 2023Close101.688Jan 13, 2023Close101.969Jan 20, 2023Close102.188Jan 26, 2023Close101.969Feb 1, 2023Close102.656Feb 7, 2023Close100.563Feb 13, 2023Close100.188Feb 17, 2023Close99.500Feb 24, 2023Close98.563Mar 2, 2023Close97.750Mar 8, 2023Close98.094Mar 14, 2023Close100.750Mar 20, 2023Close101.844Mar 24, 2023Close102.750Mar 30, 2023Close101.438Apr 5, 2023Close103.063Apr 11, 2023Close102.188Apr 17, 2023Close101.250Apr 21, 2023Close101.406Apr 27, 2023Close101.625May 3, 2023Close102.875May 9, 2023Close102.031May 15, 2023Close102.188May 19, 2023Close100.656May 25, 2023Close99.781Jun 1, 2023Close101.031Jun 7, 2023Close99.750Jun 13, 2023Close99.406Jun 20, 2023Close99.875Jun 26, 2023Close99.875Jun 30, 2023Close99.125Jul 7, 2023Close97.750Jul 13, 2023Close99.875Jul 19, 2023Close99.750Jul 25, 2023Close98.688Jul 31, 2023Close98.531Aug 4, 2023Close98.469Aug 10, 2023Close98.156Aug 16, 2023Close97.031Aug 22, 2023Close96.688Aug 28, 2023Close97.281Sep 1, 2023Close97.625Sep 8, 2023Close97.156Sep 14, 2023Close97.000Sep 20, 2023Close96.563Sep 26, 2023Close95.813Oct 2, 2023Close95.219Oct 6, 2023Close94.969Oct 13, 2023Close95.594Oct 19, 2023Close93.906Oct 25, 2023Close94.094Oct 31, 2023Close94.531Nov 6, 2023Close95.719Nov 10, 2023Close95.594Nov 16, 2023Close96.688Nov 22, 2023Close96.750Nov 29, 2023Close97.719Dec 5, 2023Close98.219Dec 11, 2023Close97.750Dec 15, 2023Close99.531Dec 21, 2023Close99.750Dec 28, 2023Close99.938Jan 4, 2024Close99.281Jan 10, 2024Close99.156Jan 17, 2024Close98.938Jan 23, 2024Close98.813Jan 29, 2024Close99.219Feb 2, 2024Close99.188Feb 8, 2024Close98.500Feb 14, 2024Close97.875Feb 21, 2024Close97.625Feb 27, 2024Close97.563Mar 4, 2024Close98.094Mar 8, 2024Close98.875Mar 14, 2024Close97.719Mar 20, 2024Close97.906Mar 26, 2024Close98.063Apr 1, 2024Close97.594Apr 5, 2024Close97.344Apr 11, 2024Close96.281Apr 17, 2024Close96.250Apr 23, 2024Close96.219Apr 29, 2024Close96.094May 3, 2024Close96.906May 9, 2024Close97.000May 15, 2024Close97.563May 21, 2024Close97.188May 28, 2024Close96.531Jun 3, 2024Close97.250Jun 7, 2024Close97.125Jun 13, 2024Close98.156Jun 20, 2024Close98.063Jun 26, 2024Close97.688Jul 2, 2024Close97.406Jul 9, 2024Close98.125Jul 15, 2024Close98.625Jul 19, 2024Close98.500Jul 25, 2024Close98.531Jul 31, 2024Close99.438Aug 6, 2024Close100.531Aug 12, 2024Close100.469Aug 16, 2024Close100.375Aug 22, 2024Close100.594Aug 28, 2024Close100.844Sep 4, 2024Close101.250Sep 10, 2024Close101.906Sep 16, 2024Close102.000Sep 20, 2024Close101.625Sep 26, 2024Close101.313Oct 2, 2024Close101.375Oct 8, 2024Close99.906Oct 15, 2024Close99.938Oct 21, 2024Close99.406Oct 25, 2024Close98.969Oct 31, 2024Close98.625Nov 6, 2024Close98.031Nov 13, 2024Close97.938Nov 19, 2024Close98.188Nov 25, 2024Close98.531Dec 2, 2024Close98.938Dec 6, 2024Close99.156Dec 12, 2024Close98.531Dec 18, 2024Close97.594Dec 24, 2024Close97.406Dec 31, 2024Close97.688Jan 7, 2025Close97.344Jan 13, 2025Close96.719Jan 17, 2025Close97.563Jan 24, 2025Close97.500Jan 30, 2025Close98.000Feb 5, 2025Close98.313Feb 11, 2025Close97.781Feb 18, 2025Close97.656Feb 24, 2025Close98.375Feb 28, 2025Close99.250Mar 6, 2025Close99.094Mar 12, 2025Close99.063Mar 18, 2025Close99.094Mar 24, 2025Close99.000Mar 28, 2025Close99.531Apr 3, 2025Close100.531Apr 9, 2025Close99.219Apr 15, 2025Close99.531Apr 21, 2025Close99.656Apr 25, 2025Close99.969May 1, 2025Close100.281May 7, 2025Close100.063May 13, 2025Close98.969May 19, 2025Close99.219May 23, 2025Close99.125May 30, 2025Close99.625Jun 5, 2025Close99.531Jun 11, 2025Close99.469Jun 17, 2025Close99.594Jun 24, 2025Close100.125Jun 30, 2025Close100.406Jul 7, 2025Close99.719Jul 11, 2025Close99.625Jul 17, 2025Close99.563Jul 23, 2025Close99.844Jul 29, 2025Close99.969Aug 4, 2025Close100.625Aug 8, 2025Close100.281Aug 14, 2025Close100.344Aug 20, 2025Close100.406Aug 26, 2025Close100.656Sep 2, 2025Close100.656Sep 8, 2025Close101.313Sep 12, 2025Close101.063Sep 18, 2025Close100.938Sep 24, 2025Close100.719Sep 30, 2025Close100.656Oct 6, 2025Close100.625Oct 10, 2025Close101.000Oct 17, 2025Close101.250Oct 23, 2025Close101.188Oct 29, 2025Close100.781Nov 4, 2025Close100.813Nov 10, 2025Close100.750Nov 17, 2025Close100.719Nov 21, 2025Close101.125Nov 28, 2025Close101.188Dec 4, 2025Close100.938Dec 10, 2025Close100.781Dec 16, 2025Close100.938Dec 22, 2025Close100.875Dec 29, 2025Close101.031Jan 5, 2026Close100.906Jan 9, 2026Close100.719Jan 15, 2026Close100.656Jan 22, 2026Close100.375Jan 28, 2026Close100.438Feb 3, 2026Close100.469Feb 9, 2026Close100.781Feb 13, 2026Close101.250Feb 20, 2026Close101.063Feb 26, 2026Close101.250Mar 4, 2026Close100.906Mar 10, 2026Close100.719Mar 16, 2026Close100.438Mar 20, 2026Close99.656Mar 26, 2026Close99.344Apr 1, 2026Close99.875Apr 7, 2026Close99.906Apr 13, 2026Close100.063Apr 17, 2026Close100.344Apr 23, 2026Close99.906Apr 29, 2026Close99.563May 5, 2026Close99.500May 11, 2026Close99.500May 15, 2026Close98.906May 21, 2026Close98.969May 28, 2026Close99.219Jun 3, 2026Close99.000Jun 9, 2026Close98.875Jun 15, 2026Close99.125Jun 22, 2026Close98.719Jun 26, 2026Close99.250Jul 2, 2026Close98.969Jul 9, 2026Close98.875Jul 15, 2026Close98.938Jul 21, 2026Close98.563Jul 27, 2026Close98.406Jul 31, 2026Close98.375Aug 6, 2026Close98.531Aug 12, 2026Close98.656Aug 18, 2026Close98.688Aug 24, 2026Close98.563Aug 28, 2026Close98.281Sep 3, 2026Close98.250Sep 9, 2026Close97.969
The most recent 20 trading days of prices for 91282CGB1.
DateBidOfferClose
Sep 9, 202697.98497.96997.969
Sep 8, 202698.10998.09498.094
Sep 4, 202698.17298.15698.125
Sep 3, 202698.31398.28198.250
Sep 2, 202698.14198.12598.125
Sep 1, 202698.20398.18898.094
Aug 31, 202698.29798.28198.281
Aug 28, 202698.37598.34498.281
Aug 27, 202698.67298.65698.594
Aug 26, 202698.67298.65698.625
Aug 25, 202698.70398.68898.719
Aug 24, 202698.60998.59498.563
Aug 21, 202698.54798.53198.531
Aug 20, 202698.67298.65698.656
Aug 19, 202698.70398.68898.750
Aug 18, 202698.70398.68898.688
Aug 17, 202698.73498.71998.688
Aug 14, 202698.79798.78198.719
Aug 13, 202698.82898.81398.813
Aug 12, 202698.70398.68898.656

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 91282CGB1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 29, 2022Jan 3, 2023New issue$35.0bn$35.0bn2.45x3.921%

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.