Treasury note

91282CGQ8 · 4% due February 28, 2030

Original term
7-Year
Maturity
Feb 28, 2030
Coupon
4.000%
Pays
Semi-Annual
Dated
Feb 28, 2023
First coupon
Aug 31, 2023
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$119.60bn
Held stripped
$17.6m
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
4.540%
Modified duration
3.198 yr
DV01
0.0315
Convexity
12.176
Dirty price
98.392

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 3.267 years against a modified duration of 3.198.

Against the fitted curve

Priced 1.6 bp rich to the curve on that day, 5.12 cents per 100 of face.

That is -1.62 standard deviations from its own typical residual.

Yield to maturity, 886 observations

3.00%3.50%4.00%4.50%5.00%5.50%Feb 28, 2023Sep 9, 2026Feb 28, 2023Yield to maturity4.072%Mar 6, 2023Yield to maturity4.161%Mar 10, 2023Yield to maturity3.860%Mar 16, 2023Yield to maturity3.671%Mar 22, 2023Yield to maturity3.529%Mar 28, 2023Yield to maturity3.604%Apr 3, 2023Yield to maturity3.496%Apr 7, 2023Yield to maturity3.465%Apr 13, 2023Yield to maturity3.490%Apr 19, 2023Yield to maturity3.672%Apr 25, 2023Yield to maturity3.432%May 1, 2023Yield to maturity3.635%May 5, 2023Yield to maturity3.429%May 11, 2023Yield to maturity3.388%May 17, 2023Yield to maturity3.591%May 23, 2023Yield to maturity3.746%May 30, 2023Yield to maturity3.782%Jun 5, 2023Yield to maturity3.792%Jun 9, 2023Yield to maturity3.866%Jun 15, 2023Yield to maturity3.845%Jun 22, 2023Yield to maturity3.946%Jun 28, 2023Yield to maturity3.871%Jul 5, 2023Yield to maturity4.140%Jul 11, 2023Yield to maturity4.157%Jul 17, 2023Yield to maturity3.945%Jul 21, 2023Yield to maturity4.005%Jul 27, 2023Yield to maturity4.180%Aug 2, 2023Yield to maturity4.208%Aug 8, 2023Yield to maturity4.098%Aug 14, 2023Yield to maturity4.326%Aug 18, 2023Yield to maturity4.366%Aug 24, 2023Yield to maturity4.373%Aug 30, 2023Yield to maturity4.261%Sep 6, 2023Yield to maturity4.425%Sep 12, 2023Yield to maturity4.392%Sep 18, 2023Yield to maturity4.444%Sep 22, 2023Yield to maturity4.560%Sep 28, 2023Yield to maturity4.665%Oct 4, 2023Yield to maturity4.778%Oct 11, 2023Yield to maturity4.639%Oct 17, 2023Yield to maturity4.905%Oct 23, 2023Yield to maturity4.890%Oct 27, 2023Yield to maturity4.868%Nov 2, 2023Yield to maturity4.715%Nov 8, 2023Yield to maturity4.563%Nov 14, 2023Yield to maturity4.477%Nov 20, 2023Yield to maturity4.489%Nov 27, 2023Yield to maturity4.456%Dec 1, 2023Yield to maturity4.229%Dec 7, 2023Yield to maturity4.177%Dec 13, 2023Yield to maturity4.057%Dec 19, 2023Yield to maturity3.982%Dec 26, 2023Yield to maturity3.936%Jan 2, 2024Yield to maturity3.976%Jan 8, 2024Yield to maturity4.017%Jan 12, 2024Yield to maturity3.912%Jan 19, 2024Yield to maturity4.128%Jan 25, 2024Yield to maturity4.087%Jan 31, 2024Yield to maturity3.953%Feb 6, 2024Yield to maturity4.088%Feb 12, 2024Yield to maturity4.177%Feb 16, 2024Yield to maturity4.321%Feb 23, 2024Yield to maturity4.304%Feb 29, 2024Yield to maturity4.292%Mar 6, 2024Yield to maturity4.143%Mar 12, 2024Yield to maturity4.185%Mar 18, 2024Yield to maturity4.379%Mar 22, 2024Yield to maturity4.234%Mar 28, 2024Yield to maturity4.228%Apr 3, 2024Yield to maturity4.363%Apr 9, 2024Yield to maturity4.395%Apr 15, 2024Yield to maturity4.663%Apr 19, 2024Yield to maturity4.671%Apr 25, 2024Yield to maturity4.735%May 1, 2024Yield to maturity4.654%May 7, 2024Yield to maturity4.486%May 13, 2024Yield to maturity4.512%May 17, 2024Yield to maturity4.451%May 23, 2024Yield to maturity4.521%May 30, 2024Yield to maturity4.586%Jun 5, 2024Yield to maturity4.316%Jun 11, 2024Yield to maturity4.417%Jun 17, 2024Yield to maturity4.305%Jun 24, 2024Yield to maturity4.280%Jun 28, 2024Yield to maturity4.357%Jul 5, 2024Yield to maturity4.238%Jul 11, 2024Yield to maturity4.150%Jul 17, 2024Yield to maturity4.093%Jul 23, 2024Yield to maturity4.176%Jul 29, 2024Yield to maturity4.088%Aug 2, 2024Yield to maturity3.650%Aug 8, 2024Yield to maturity3.867%Aug 14, 2024Yield to maturity3.704%Aug 20, 2024Yield to maturity3.729%Aug 26, 2024Yield to maturity3.703%Aug 30, 2024Yield to maturity3.771%Sep 6, 2024Yield to maturity3.557%Sep 12, 2024Yield to maturity3.518%Sep 18, 2024Yield to maturity3.529%Sep 24, 2024Yield to maturity3.528%Sep 30, 2024Yield to maturity3.628%Oct 4, 2024Yield to maturity3.838%Oct 10, 2024Yield to maturity3.941%Oct 17, 2024Yield to maturity3.928%Oct 23, 2024Yield to maturity4.078%Oct 29, 2024Yield to maturity4.137%Nov 4, 2024Yield to maturity4.198%Nov 8, 2024Yield to maturity4.218%Nov 15, 2024Yield to maturity4.326%Nov 21, 2024Yield to maturity4.327%Nov 27, 2024Yield to maturity4.159%Dec 4, 2024Yield to maturity4.099%Dec 10, 2024Yield to maturity4.120%Dec 16, 2024Yield to maturity4.269%Dec 20, 2024Yield to maturity4.394%Dec 27, 2024Yield to maturity4.471%Jan 3, 2025Yield to maturity4.431%Jan 9, 2025Yield to maturity4.481%Jan 15, 2025Yield to maturity4.475%Jan 22, 2025Yield to maturity4.449%Jan 28, 2025Yield to maturity4.352%Feb 3, 2025Yield to maturity4.374%Feb 7, 2025Yield to maturity4.362%Feb 13, 2025Yield to maturity4.412%Feb 20, 2025Yield to maturity4.364%Feb 26, 2025Yield to maturity4.070%Mar 4, 2025Yield to maturity4.007%Mar 10, 2025Yield to maturity3.979%Mar 14, 2025Yield to maturity4.084%Mar 20, 2025Yield to maturity4.007%Mar 26, 2025Yield to maturity4.084%Apr 1, 2025Yield to maturity3.908%Apr 7, 2025Yield to maturity3.816%Apr 11, 2025Yield to maturity4.149%Apr 17, 2025Yield to maturity3.935%Apr 23, 2025Yield to maturity3.999%Apr 29, 2025Yield to maturity3.750%May 5, 2025Yield to maturity3.920%May 9, 2025Yield to maturity3.977%May 15, 2025Yield to maturity4.057%May 21, 2025Yield to maturity4.130%May 28, 2025Yield to maturity4.050%Jun 3, 2025Yield to maturity4.021%Jun 9, 2025Yield to maturity4.080%Jun 13, 2025Yield to maturity3.999%Jun 20, 2025Yield to maturity3.947%Jun 26, 2025Yield to maturity3.778%Jul 2, 2025Yield to maturity3.844%Jul 9, 2025Yield to maturity3.895%Jul 15, 2025Yield to maturity4.029%Jul 21, 2025Yield to maturity3.887%Jul 25, 2025Yield to maturity3.924%Jul 31, 2025Yield to maturity3.939%Aug 6, 2025Yield to maturity3.737%Aug 12, 2025Yield to maturity3.796%Aug 18, 2025Yield to maturity3.825%Aug 22, 2025Yield to maturity3.727%Aug 28, 2025Yield to maturity3.674%Sep 4, 2025Yield to maturity3.619%Sep 10, 2025Yield to maturity3.565%Sep 16, 2025Yield to maturity3.564%Sep 22, 2025Yield to maturity3.669%Sep 26, 2025Yield to maturity3.744%Oct 2, 2025Yield to maturity3.643%Oct 8, 2025Yield to maturity3.696%Oct 15, 2025Yield to maturity3.594%Oct 21, 2025Yield to maturity3.531%Oct 27, 2025Yield to maturity3.584%Oct 31, 2025Yield to maturity3.684%Nov 6, 2025Yield to maturity3.659%Nov 13, 2025Yield to maturity3.674%Nov 19, 2025Yield to maturity3.672%Nov 25, 2025Yield to maturity3.537%Dec 2, 2025Yield to maturity3.614%Dec 8, 2025Yield to maturity3.709%Dec 12, 2025Yield to maturity3.700%Dec 18, 2025Yield to maturity3.610%Dec 24, 2025Yield to maturity3.673%Dec 31, 2025Yield to maturity3.664%Jan 7, 2026Yield to maturity3.630%Jan 13, 2026Yield to maturity3.686%Jan 20, 2026Yield to maturity3.792%Jan 26, 2026Yield to maturity3.758%Jan 30, 2026Yield to maturity3.716%Feb 5, 2026Yield to maturity3.665%Feb 11, 2026Yield to maturity3.681%Feb 18, 2026Yield to maturity3.588%Feb 24, 2026Yield to maturity3.545%Mar 2, 2026Yield to maturity3.568%Mar 6, 2026Yield to maturity3.668%Mar 12, 2026Yield to maturity3.845%Mar 18, 2026Yield to maturity3.827%Mar 24, 2026Yield to maturity3.999%Mar 30, 2026Yield to maturity3.921%Apr 3, 2026Yield to maturity3.947%Apr 9, 2026Yield to maturity3.859%Apr 15, 2026Yield to maturity3.841%Apr 21, 2026Yield to maturity3.849%Apr 27, 2026Yield to maturity3.893%May 1, 2026Yield to maturity3.972%May 7, 2026Yield to maturity3.999%May 13, 2026Yield to maturity4.070%May 19, 2026Yield to maturity4.270%May 26, 2026Yield to maturity4.143%Jun 1, 2026Yield to maturity4.144%Jun 5, 2026Yield to maturity4.255%Jun 11, 2026Yield to maturity4.136%Jun 17, 2026Yield to maturity4.247%Jun 24, 2026Yield to maturity4.165%Jun 30, 2026Yield to maturity4.166%Jul 7, 2026Yield to maturity4.232%Jul 13, 2026Yield to maturity4.328%Jul 17, 2026Yield to maturity4.234%Jul 23, 2026Yield to maturity4.416%Jul 29, 2026Yield to maturity4.322%Aug 4, 2026Yield to maturity4.285%Aug 10, 2026Yield to maturity4.344%Aug 14, 2026Yield to maturity4.288%Aug 20, 2026Yield to maturity4.308%Aug 26, 2026Yield to maturity4.320%Sep 1, 2026Yield to maturity4.498%Sep 8, 2026Yield to maturity4.500%Sep 9, 2026Yield to maturity4.540%

Price history

886 trading days to Sep 9, 2026

949698100102104106Feb 28, 2023Sep 9, 2026Feb 28, 2023Close99.563Mar 6, 2023Close99.031Mar 10, 2023Close100.844Mar 16, 2023Close102.000Mar 22, 2023Close102.875Mar 28, 2023Close102.406Apr 3, 2023Close103.063Apr 7, 2023Close103.250Apr 13, 2023Close103.094Apr 19, 2023Close101.969Apr 25, 2023Close103.438May 1, 2023Close102.188May 5, 2023Close103.438May 11, 2023Close103.688May 17, 2023Close102.438May 23, 2023Close101.500May 30, 2023Close101.281Jun 5, 2023Close101.219Jun 9, 2023Close100.781Jun 15, 2023Close100.906Jun 22, 2023Close100.313Jun 28, 2023Close100.750Jul 5, 2023Close99.188Jul 11, 2023Close99.094Jul 17, 2023Close100.313Jul 21, 2023Close99.969Jul 27, 2023Close98.969Aug 2, 2023Close98.813Aug 8, 2023Close99.438Aug 14, 2023Close98.156Aug 18, 2023Close97.938Aug 24, 2023Close97.906Aug 30, 2023Close98.531Sep 6, 2023Close97.625Sep 12, 2023Close97.813Sep 18, 2023Close97.531Sep 22, 2023Close96.906Sep 28, 2023Close96.344Oct 4, 2023Close95.750Oct 11, 2023Close96.500Oct 17, 2023Close95.094Oct 23, 2023Close95.188Oct 27, 2023Close95.313Nov 2, 2023Close96.125Nov 8, 2023Close96.938Nov 14, 2023Close97.406Nov 20, 2023Close97.344Nov 27, 2023Close97.531Dec 1, 2023Close98.750Dec 7, 2023Close99.031Dec 13, 2023Close99.688Dec 19, 2023Close100.094Dec 26, 2023Close100.344Jan 2, 2024Close100.125Jan 8, 2024Close99.906Jan 12, 2024Close100.469Jan 19, 2024Close99.313Jan 25, 2024Close99.531Jan 31, 2024Close100.250Feb 6, 2024Close99.531Feb 12, 2024Close99.063Feb 16, 2024Close98.313Feb 23, 2024Close98.406Feb 29, 2024Close98.469Mar 6, 2024Close99.250Mar 12, 2024Close99.031Mar 18, 2024Close98.031Mar 22, 2024Close98.781Mar 28, 2024Close98.813Apr 3, 2024Close98.125Apr 9, 2024Close97.969Apr 15, 2024Close96.625Apr 19, 2024Close96.594Apr 25, 2024Close96.281May 1, 2024Close96.688May 7, 2024Close97.531May 13, 2024Close97.406May 17, 2024Close97.719May 23, 2024Close97.375May 30, 2024Close97.063Jun 5, 2024Close98.406Jun 11, 2024Close97.906Jun 17, 2024Close98.469Jun 24, 2024Close98.594Jun 28, 2024Close98.219Jul 5, 2024Close98.813Jul 11, 2024Close99.250Jul 17, 2024Close99.531Jul 23, 2024Close99.125Jul 29, 2024Close99.563Aug 2, 2024Close101.750Aug 8, 2024Close100.656Aug 14, 2024Close101.469Aug 20, 2024Close101.344Aug 26, 2024Close101.469Aug 30, 2024Close101.125Sep 6, 2024Close102.188Sep 12, 2024Close102.375Sep 18, 2024Close102.313Sep 24, 2024Close102.313Sep 30, 2024Close101.813Oct 4, 2024Close100.781Oct 10, 2024Close100.281Oct 17, 2024Close100.344Oct 23, 2024Close99.625Oct 29, 2024Close99.344Nov 4, 2024Close99.063Nov 8, 2024Close98.969Nov 15, 2024Close98.469Nov 21, 2024Close98.469Nov 27, 2024Close99.250Dec 4, 2024Close99.531Dec 10, 2024Close99.438Dec 16, 2024Close98.750Dec 20, 2024Close98.188Dec 27, 2024Close97.844Jan 3, 2025Close98.031Jan 9, 2025Close97.813Jan 15, 2025Close97.844Jan 22, 2025Close97.969Jan 28, 2025Close98.406Feb 3, 2025Close98.313Feb 7, 2025Close98.375Feb 13, 2025Close98.156Feb 20, 2025Close98.375Feb 26, 2025Close99.688Mar 4, 2025Close99.969Mar 10, 2025Close100.094Mar 14, 2025Close99.625Mar 20, 2025Close99.969Mar 26, 2025Close99.625Apr 1, 2025Close100.406Apr 7, 2025Close100.813Apr 11, 2025Close99.344Apr 17, 2025Close100.281Apr 23, 2025Close100.000Apr 29, 2025Close101.094May 5, 2025Close100.344May 9, 2025Close100.094May 15, 2025Close99.750May 21, 2025Close99.438May 28, 2025Close99.781Jun 3, 2025Close99.906Jun 9, 2025Close99.656Jun 13, 2025Close100.000Jun 20, 2025Close100.219Jun 26, 2025Close100.938Jul 2, 2025Close100.656Jul 9, 2025Close100.438Jul 15, 2025Close99.875Jul 21, 2025Close100.469Jul 25, 2025Close100.313Jul 31, 2025Close100.250Aug 6, 2025Close101.094Aug 12, 2025Close100.844Aug 18, 2025Close100.719Aug 22, 2025Close101.125Aug 28, 2025Close101.344Sep 4, 2025Close101.563Sep 10, 2025Close101.781Sep 16, 2025Close101.781Sep 22, 2025Close101.344Sep 26, 2025Close101.031Oct 2, 2025Close101.438Oct 8, 2025Close101.219Oct 15, 2025Close101.625Oct 21, 2025Close101.875Oct 27, 2025Close101.656Oct 31, 2025Close101.250Nov 6, 2025Close101.344Nov 13, 2025Close101.281Nov 19, 2025Close101.281Nov 25, 2025Close101.813Dec 2, 2025Close101.500Dec 8, 2025Close101.125Dec 12, 2025Close101.156Dec 18, 2025Close101.500Dec 24, 2025Close101.250Dec 31, 2025Close101.281Jan 7, 2026Close101.406Jan 13, 2026Close101.188Jan 20, 2026Close100.781Jan 26, 2026Close100.906Jan 30, 2026Close101.063Feb 5, 2026Close101.250Feb 11, 2026Close101.188Feb 18, 2026Close101.531Feb 24, 2026Close101.688Mar 2, 2026Close101.594Mar 6, 2026Close101.219Mar 12, 2026Close100.563Mar 18, 2026Close100.625Mar 24, 2026Close100.000Mar 30, 2026Close100.281Apr 3, 2026Close100.188Apr 9, 2026Close100.500Apr 15, 2026Close100.563Apr 21, 2026Close100.531Apr 27, 2026Close100.375May 1, 2026Close100.094May 7, 2026Close100.000May 13, 2026Close99.750May 19, 2026Close99.063May 26, 2026Close99.500Jun 1, 2026Close99.500Jun 5, 2026Close99.125Jun 11, 2026Close99.531Jun 17, 2026Close99.156Jun 24, 2026Close99.438Jun 30, 2026Close99.438Jul 7, 2026Close99.219Jul 13, 2026Close98.906Jul 17, 2026Close99.219Jul 23, 2026Close98.625Jul 29, 2026Close98.938Aug 4, 2026Close99.063Aug 10, 2026Close98.875Aug 14, 2026Close99.063Aug 20, 2026Close99.000Aug 26, 2026Close98.969Sep 1, 2026Close98.406Sep 8, 2026Close98.406Sep 9, 2026Close98.281
The most recent 20 trading days of prices for 91282CGQ8.
DateBidOfferClose
Sep 9, 202698.28198.25098.281
Sep 8, 202698.43898.43898.406
Sep 4, 202698.50098.50098.469
Sep 3, 202698.64198.62598.563
Sep 2, 202698.45398.43898.438
Sep 1, 202698.51698.50098.406
Aug 31, 202698.60998.59498.594
Aug 28, 202698.70398.68898.594
Aug 27, 202699.01699.00098.938
Aug 26, 202699.01699.00098.969
Aug 25, 202699.06399.06399.063
Aug 24, 202698.95398.93898.875
Aug 21, 202698.85998.84498.875
Aug 20, 202698.98498.96999.000
Aug 19, 202699.04799.03199.063
Aug 18, 202699.04799.03199.031
Aug 17, 202699.07899.06399.031
Aug 14, 202699.14199.12599.063
Aug 13, 202699.17299.15699.188
Aug 12, 202699.04799.03199.000

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.

2 auctions

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 91282CGQ8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 23, 2023Feb 28, 2023New issue$35.0bn$43.0bn2.49x4.062%
Feb 25, 2025Feb 28, 2025Reopening$70.0bn$77.1bn2.42x4.123%

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.