Treasury note

91282CGT2 · 3.625% due March 31, 2028

Original term
5-Year
Maturity
Mar 31, 2028
Coupon
3.625%
Pays
Semi-Annual
Dated
Mar 31, 2023
First coupon
Sep 30, 2023
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$43.00bn
Held stripped
$17.6m
Share stripped
0.04%

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
4.380%
Modified duration
1.469 yr
DV01
0.0148
Convexity
2.935
Dirty price
100.489

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 1.502 years against a modified duration of 1.469.

Against the fitted curve

Priced 1.0 bp cheap to the curve on that day, 1.54 cents per 100 of face.

That is 1.22 standard deviations from its own typical residual.

Yield to maturity, 863 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Mar 31, 2023Sep 9, 2026Mar 31, 2023Yield to maturity3.604%Apr 6, 2023Yield to maturity3.371%Apr 12, 2023Yield to maturity3.466%Apr 18, 2023Yield to maturity3.687%Apr 24, 2023Yield to maturity3.604%Apr 28, 2023Yield to maturity3.534%May 4, 2023Yield to maturity3.311%May 10, 2023Yield to maturity3.387%May 16, 2023Yield to maturity3.526%May 22, 2023Yield to maturity3.781%May 26, 2023Yield to maturity3.975%Jun 2, 2023Yield to maturity3.889%Jun 8, 2023Yield to maturity3.912%Jun 14, 2023Yield to maturity4.102%Jun 21, 2023Yield to maturity4.001%Jun 27, 2023Yield to maturity4.076%Jul 3, 2023Yield to maturity4.241%Jul 10, 2023Yield to maturity4.281%Jul 14, 2023Yield to maturity4.081%Jul 20, 2023Yield to maturity4.127%Jul 26, 2023Yield to maturity4.158%Aug 1, 2023Yield to maturity4.289%Aug 7, 2023Yield to maturity4.200%Aug 11, 2023Yield to maturity4.347%Aug 17, 2023Yield to maturity4.464%Aug 23, 2023Yield to maturity4.420%Aug 29, 2023Yield to maturity4.330%Sep 5, 2023Yield to maturity4.434%Sep 11, 2023Yield to maturity4.468%Sep 15, 2023Yield to maturity4.518%Sep 21, 2023Yield to maturity4.671%Sep 27, 2023Yield to maturity4.746%Oct 3, 2023Yield to maturity4.846%Oct 10, 2023Yield to maturity4.650%Oct 16, 2023Yield to maturity4.750%Oct 20, 2023Yield to maturity4.883%Oct 26, 2023Yield to maturity4.829%Nov 1, 2023Yield to maturity4.694%Nov 7, 2023Yield to maturity4.568%Nov 13, 2023Yield to maturity4.693%Nov 17, 2023Yield to maturity4.485%Nov 24, 2023Yield to maturity4.537%Nov 30, 2023Yield to maturity4.368%Dec 6, 2023Yield to maturity4.191%Dec 12, 2023Yield to maturity4.291%Dec 18, 2023Yield to maturity4.017%Dec 22, 2023Yield to maturity3.929%Dec 29, 2023Yield to maturity3.906%Jan 5, 2024Yield to maturity4.071%Jan 11, 2024Yield to maturity3.949%Jan 18, 2024Yield to maturity4.065%Jan 24, 2024Yield to maturity4.125%Jan 30, 2024Yield to maturity4.052%Feb 5, 2024Yield to maturity4.179%Feb 9, 2024Yield to maturity4.198%Feb 15, 2024Yield to maturity4.284%Feb 22, 2024Yield to maturity4.407%Feb 28, 2024Yield to maturity4.349%Mar 5, 2024Yield to maturity4.224%Mar 11, 2024Yield to maturity4.175%Mar 15, 2024Yield to maturity4.419%Mar 21, 2024Yield to maturity4.343%Mar 27, 2024Yield to maturity4.276%Apr 2, 2024Yield to maturity4.436%Apr 8, 2024Yield to maturity4.518%Apr 12, 2024Yield to maturity4.637%Apr 18, 2024Yield to maturity4.756%Apr 24, 2024Yield to maturity4.734%Apr 30, 2024Yield to maturity4.810%May 6, 2024Yield to maturity4.570%May 10, 2024Yield to maturity4.601%May 16, 2024Yield to maturity4.486%May 22, 2024Yield to maturity4.552%May 29, 2024Yield to maturity4.722%Jun 4, 2024Yield to maturity4.450%Jun 10, 2024Yield to maturity4.573%Jun 14, 2024Yield to maturity4.338%Jun 21, 2024Yield to maturity4.378%Jun 27, 2024Yield to maturity4.417%Jul 3, 2024Yield to maturity4.421%Jul 10, 2024Yield to maturity4.331%Jul 16, 2024Yield to maturity4.157%Jul 22, 2024Yield to maturity4.243%Jul 26, 2024Yield to maturity4.142%Aug 1, 2024Yield to maturity3.910%Aug 7, 2024Yield to maturity3.828%Aug 13, 2024Yield to maturity3.736%Aug 19, 2024Yield to maturity3.830%Aug 23, 2024Yield to maturity3.708%Aug 29, 2024Yield to maturity3.728%Sep 5, 2024Yield to maturity3.577%Sep 11, 2024Yield to maturity3.464%Sep 17, 2024Yield to maturity3.454%Sep 23, 2024Yield to maturity3.492%Sep 27, 2024Yield to maturity3.501%Oct 3, 2024Yield to maturity3.625%Oct 9, 2024Yield to maturity3.926%Oct 16, 2024Yield to maturity3.859%Oct 22, 2024Yield to maturity3.998%Oct 28, 2024Yield to maturity4.099%Nov 1, 2024Yield to maturity4.201%Nov 7, 2024Yield to maturity4.173%Nov 14, 2024Yield to maturity4.318%Nov 20, 2024Yield to maturity4.280%Nov 26, 2024Yield to maturity4.221%Dec 3, 2024Yield to maturity4.142%Dec 9, 2024Yield to maturity4.093%Dec 13, 2024Yield to maturity4.240%Dec 19, 2024Yield to maturity4.378%Dec 26, 2024Yield to maturity4.382%Jan 2, 2025Yield to maturity4.312%Jan 8, 2025Yield to maturity4.358%Jan 14, 2025Yield to maturity4.490%Jan 21, 2025Yield to maturity4.334%Jan 27, 2025Yield to maturity4.251%Jan 31, 2025Yield to maturity4.287%Feb 6, 2025Yield to maturity4.235%Feb 12, 2025Yield to maturity4.402%Feb 19, 2025Yield to maturity4.308%Feb 25, 2025Yield to maturity4.091%Mar 3, 2025Yield to maturity3.940%Mar 7, 2025Yield to maturity4.019%Mar 13, 2025Yield to maturity3.954%Mar 19, 2025Yield to maturity3.967%Mar 25, 2025Yield to maturity3.991%Mar 31, 2025Yield to maturity3.892%Apr 4, 2025Yield to maturity3.669%Apr 10, 2025Yield to maturity3.872%Apr 16, 2025Yield to maturity3.771%Apr 22, 2025Yield to maturity3.817%Apr 28, 2025Yield to maturity3.670%May 2, 2025Yield to maturity3.808%May 8, 2025Yield to maturity3.877%May 14, 2025Yield to maturity4.054%May 20, 2025Yield to maturity3.950%May 27, 2025Yield to maturity3.929%Jun 2, 2025Yield to maturity3.906%Jun 6, 2025Yield to maturity4.027%Jun 12, 2025Yield to maturity3.873%Jun 18, 2025Yield to maturity3.887%Jun 25, 2025Yield to maturity3.744%Jul 1, 2025Yield to maturity3.756%Jul 8, 2025Yield to maturity3.867%Jul 14, 2025Yield to maturity3.856%Jul 18, 2025Yield to maturity3.833%Jul 24, 2025Yield to maturity3.871%Jul 30, 2025Yield to maturity3.897%Aug 5, 2025Yield to maturity3.674%Aug 11, 2025Yield to maturity3.737%Aug 15, 2025Yield to maturity3.725%Aug 21, 2025Yield to maturity3.738%Aug 27, 2025Yield to maturity3.599%Sep 3, 2025Yield to maturity3.586%Sep 9, 2025Yield to maturity3.508%Sep 15, 2025Yield to maturity3.508%Sep 19, 2025Yield to maturity3.559%Sep 25, 2025Yield to maturity3.651%Oct 1, 2025Yield to maturity3.546%Oct 7, 2025Yield to maturity3.572%Oct 14, 2025Yield to maturity3.464%Oct 20, 2025Yield to maturity3.463%Oct 24, 2025Yield to maturity3.475%Oct 30, 2025Yield to maturity3.610%Nov 5, 2025Yield to maturity3.624%Nov 12, 2025Yield to maturity3.555%Nov 18, 2025Yield to maturity3.554%Nov 24, 2025Yield to maturity3.484%Dec 1, 2025Yield to maturity3.539%Dec 5, 2025Yield to maturity3.566%Dec 11, 2025Yield to maturity3.538%Dec 17, 2025Yield to maturity3.494%Dec 23, 2025Yield to maturity3.551%Dec 30, 2025Yield to maturity3.463%Jan 6, 2026Yield to maturity3.491%Jan 12, 2026Yield to maturity3.549%Jan 16, 2026Yield to maturity3.608%Jan 23, 2026Yield to maturity3.608%Jan 29, 2026Yield to maturity3.563%Feb 4, 2026Yield to maturity3.578%Feb 10, 2026Yield to maturity3.470%Feb 17, 2026Yield to maturity3.438%Feb 23, 2026Yield to maturity3.437%Feb 27, 2026Yield to maturity3.389%Mar 5, 2026Yield to maturity3.577%Mar 11, 2026Yield to maturity3.640%Mar 17, 2026Yield to maturity3.673%Mar 23, 2026Yield to maturity3.852%Mar 27, 2026Yield to maturity3.920%Apr 2, 2026Yield to maturity3.806%Apr 8, 2026Yield to maturity3.807%Apr 14, 2026Yield to maturity3.758%Apr 20, 2026Yield to maturity3.725%Apr 24, 2026Yield to maturity3.794%Apr 30, 2026Yield to maturity3.880%May 6, 2026Yield to maturity3.865%May 12, 2026Yield to maturity4.006%May 18, 2026Yield to maturity4.080%May 22, 2026Yield to maturity4.137%May 29, 2026Yield to maturity3.998%Jun 4, 2026Yield to maturity4.054%Jun 10, 2026Yield to maturity4.131%Jun 16, 2026Yield to maturity4.062%Jun 23, 2026Yield to maturity4.197%Jun 29, 2026Yield to maturity4.127%Jul 6, 2026Yield to maturity4.132%Jul 10, 2026Yield to maturity4.213%Jul 16, 2026Yield to maturity4.159%Jul 22, 2026Yield to maturity4.301%Jul 28, 2026Yield to maturity4.268%Aug 3, 2026Yield to maturity4.254%Aug 7, 2026Yield to maturity4.180%Aug 13, 2026Yield to maturity4.124%Aug 19, 2026Yield to maturity4.149%Aug 25, 2026Yield to maturity4.175%Aug 31, 2026Yield to maturity4.327%Sep 4, 2026Yield to maturity4.335%Sep 9, 2026Yield to maturity4.380%

Price history

863 trading days to Sep 9, 2026

949698100102Mar 31, 2023Sep 9, 2026Mar 31, 2023Close100.094Apr 6, 2023Close101.156Apr 12, 2023Close100.719Apr 18, 2023Close99.719Apr 24, 2023Close100.094Apr 28, 2023Close100.406May 4, 2023Close101.406May 10, 2023Close101.063May 16, 2023Close100.438May 22, 2023Close99.313May 26, 2023Close98.469Jun 2, 2023Close98.844Jun 8, 2023Close98.750Jun 14, 2023Close97.938Jun 21, 2023Close98.375Jun 27, 2023Close98.063Jul 3, 2023Close97.375Jul 10, 2023Close97.219Jul 14, 2023Close98.063Jul 20, 2023Close97.875Jul 26, 2023Close97.750Aug 1, 2023Close97.219Aug 7, 2023Close97.594Aug 11, 2023Close97.000Aug 17, 2023Close96.531Aug 23, 2023Close96.719Aug 29, 2023Close97.094Sep 5, 2023Close96.688Sep 11, 2023Close96.563Sep 15, 2023Close96.375Sep 21, 2023Close95.781Sep 27, 2023Close95.500Oct 3, 2023Close95.125Oct 10, 2023Close95.906Oct 16, 2023Close95.531Oct 20, 2023Close95.031Oct 26, 2023Close95.250Nov 1, 2023Close95.781Nov 7, 2023Close96.281Nov 13, 2023Close95.813Nov 17, 2023Close96.625Nov 24, 2023Close96.438Nov 30, 2023Close97.094Dec 6, 2023Close97.781Dec 12, 2023Close97.406Dec 18, 2023Close98.469Dec 22, 2023Close98.813Dec 29, 2023Close98.906Jan 5, 2024Close98.281Jan 11, 2024Close98.750Jan 18, 2024Close98.313Jan 24, 2024Close98.094Jan 30, 2024Close98.375Feb 5, 2024Close97.906Feb 9, 2024Close97.844Feb 15, 2024Close97.531Feb 22, 2024Close97.094Feb 28, 2024Close97.313Mar 5, 2024Close97.781Mar 11, 2024Close97.969Mar 15, 2024Close97.094Mar 21, 2024Close97.375Mar 27, 2024Close97.625Apr 2, 2024Close97.063Apr 8, 2024Close96.781Apr 12, 2024Close96.375Apr 18, 2024Close95.969Apr 24, 2024Close96.063Apr 30, 2024Close95.813May 6, 2024Close96.656May 10, 2024Close96.563May 16, 2024Close96.969May 22, 2024Close96.750May 29, 2024Close96.188Jun 4, 2024Close97.125Jun 10, 2024Close96.719Jun 14, 2024Close97.531Jun 21, 2024Close97.406Jun 27, 2024Close97.281Jul 3, 2024Close97.281Jul 10, 2024Close97.594Jul 16, 2024Close98.188Jul 22, 2024Close97.906Jul 26, 2024Close98.250Aug 1, 2024Close99.031Aug 7, 2024Close99.313Aug 13, 2024Close99.625Aug 19, 2024Close99.313Aug 23, 2024Close99.719Aug 29, 2024Close99.656Sep 5, 2024Close100.156Sep 11, 2024Close100.531Sep 17, 2024Close100.563Sep 23, 2024Close100.438Sep 27, 2024Close100.406Oct 3, 2024Close100.000Oct 9, 2024Close99.031Oct 16, 2024Close99.250Oct 22, 2024Close98.813Oct 28, 2024Close98.500Nov 1, 2024Close98.188Nov 7, 2024Close98.281Nov 14, 2024Close97.844Nov 20, 2024Close97.969Nov 26, 2024Close98.156Dec 3, 2024Close98.406Dec 9, 2024Close98.563Dec 13, 2024Close98.125Dec 19, 2024Close97.719Dec 26, 2024Close97.719Jan 2, 2025Close97.938Jan 8, 2025Close97.813Jan 14, 2025Close97.438Jan 21, 2025Close97.906Jan 27, 2025Close98.156Jan 31, 2025Close98.063Feb 6, 2025Close98.219Feb 12, 2025Close97.750Feb 19, 2025Close98.031Feb 25, 2025Close98.656Mar 3, 2025Close99.094Mar 7, 2025Close98.875Mar 13, 2025Close99.063Mar 19, 2025Close99.031Mar 25, 2025Close98.969Mar 31, 2025Close99.250Apr 4, 2025Close99.875Apr 10, 2025Close99.313Apr 16, 2025Close99.594Apr 22, 2025Close99.469Apr 28, 2025Close99.875May 2, 2025Close99.500May 8, 2025Close99.313May 14, 2025Close98.844May 20, 2025Close99.125May 27, 2025Close99.188Jun 2, 2025Close99.250Jun 6, 2025Close98.938Jun 12, 2025Close99.344Jun 18, 2025Close99.313Jun 25, 2025Close99.688Jul 1, 2025Close99.656Jul 8, 2025Close99.375Jul 14, 2025Close99.406Jul 18, 2025Close99.469Jul 24, 2025Close99.375Jul 30, 2025Close99.313Aug 5, 2025Close99.875Aug 11, 2025Close99.719Aug 15, 2025Close99.750Aug 21, 2025Close99.719Aug 27, 2025Close100.063Sep 3, 2025Close100.094Sep 9, 2025Close100.281Sep 15, 2025Close100.281Sep 19, 2025Close100.156Sep 25, 2025Close99.938Oct 1, 2025Close100.188Oct 7, 2025Close100.125Oct 14, 2025Close100.375Oct 20, 2025Close100.375Oct 24, 2025Close100.344Oct 30, 2025Close100.031Nov 5, 2025Close100.000Nov 12, 2025Close100.156Nov 18, 2025Close100.156Nov 24, 2025Close100.313Dec 1, 2025Close100.188Dec 5, 2025Close100.125Dec 11, 2025Close100.188Dec 17, 2025Close100.281Dec 23, 2025Close100.156Dec 30, 2025Close100.344Jan 6, 2026Close100.281Jan 12, 2026Close100.156Jan 16, 2026Close100.031Jan 23, 2026Close100.031Jan 29, 2026Close100.125Feb 4, 2026Close100.094Feb 10, 2026Close100.313Feb 17, 2026Close100.375Feb 23, 2026Close100.375Feb 27, 2026Close100.469Mar 5, 2026Close100.094Mar 11, 2026Close99.969Mar 17, 2026Close99.906Mar 23, 2026Close99.563Mar 27, 2026Close99.438Apr 2, 2026Close99.656Apr 8, 2026Close99.656Apr 14, 2026Close99.750Apr 20, 2026Close99.813Apr 24, 2026Close99.688Apr 30, 2026Close99.531May 6, 2026Close99.563May 12, 2026Close99.313May 18, 2026Close99.188May 22, 2026Close99.094May 29, 2026Close99.344Jun 4, 2026Close99.250Jun 10, 2026Close99.125Jun 16, 2026Close99.250Jun 23, 2026Close99.031Jun 29, 2026Close99.156Jul 6, 2026Close99.156Jul 10, 2026Close99.031Jul 16, 2026Close99.125Jul 22, 2026Close98.906Jul 28, 2026Close98.969Aug 3, 2026Close99.000Aug 7, 2026Close99.125Aug 13, 2026Close99.219Aug 19, 2026Close99.188Aug 25, 2026Close99.156Aug 31, 2026Close98.938Sep 4, 2026Close98.938Sep 9, 2026Close98.875
The most recent 20 trading days of prices for 91282CGT2.
DateBidOfferClose
Sep 9, 202698.89198.87598.875
Sep 8, 202698.92298.90698.906
Sep 4, 202698.93898.93898.938
Sep 3, 202698.98498.96998.969
Sep 2, 202698.90698.90698.906
Sep 1, 202698.92298.90698.875
Aug 31, 202698.95398.93898.938
Aug 28, 202698.98498.96998.938
Aug 27, 202699.14199.12599.094
Aug 26, 202699.14199.12599.125
Aug 25, 202699.15699.15699.156
Aug 24, 202699.12599.12599.094
Aug 21, 202699.10999.09499.094
Aug 20, 202699.17299.15699.156
Aug 19, 202699.17299.15699.188
Aug 18, 202699.18899.18899.188
Aug 17, 202699.20399.18899.156
Aug 14, 202699.21999.21999.188
Aug 13, 202699.21999.21999.219
Aug 12, 202699.14199.12599.125

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 91282CGT2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 28, 2023Mar 31, 2023New issue$43.0bn$43.0bn2.48x3.665%

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.