Treasury note

91282CHK0 · 4% due June 30, 2028

Original term
5-Year
Maturity
Jun 30, 2028
Coupon
4.000%
Pays
Semi-Annual
Dated
Jun 30, 2023
First coupon
Dec 31, 2023
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$43.00bn
Held stripped
$0.0m
Share stripped
0.00%

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
4.416%
Modified duration
1.708 yr
DV01
0.0171
Convexity
3.816
Dirty price
100.064

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 1.746 years against a modified duration of 1.708.

Against the fitted curve

Priced 0.6 bp cheap to the curve on that day, 1.05 cents per 100 of face.

That is 1.69 standard deviations from its own typical residual.

Yield to maturity, 800 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Jun 30, 2023Sep 9, 2026Jun 30, 2023Yield to maturity4.126%Jul 7, 2023Yield to maturity4.345%Jul 13, 2023Yield to maturity3.937%Jul 19, 2023Yield to maturity3.986%Jul 25, 2023Yield to maturity4.184%Jul 31, 2023Yield to maturity4.198%Aug 4, 2023Yield to maturity4.163%Aug 10, 2023Yield to maturity4.228%Aug 16, 2023Yield to maturity4.431%Aug 22, 2023Yield to maturity4.506%Aug 28, 2023Yield to maturity4.412%Sep 1, 2023Yield to maturity4.325%Sep 8, 2023Yield to maturity4.429%Sep 14, 2023Yield to maturity4.452%Sep 20, 2023Yield to maturity4.558%Sep 26, 2023Yield to maturity4.650%Oct 2, 2023Yield to maturity4.735%Oct 6, 2023Yield to maturity4.760%Oct 13, 2023Yield to maturity4.664%Oct 19, 2023Yield to maturity4.956%Oct 25, 2023Yield to maturity4.921%Oct 31, 2023Yield to maturity4.831%Nov 6, 2023Yield to maturity4.618%Nov 10, 2023Yield to maturity4.674%Nov 16, 2023Yield to maturity4.445%Nov 22, 2023Yield to maturity4.462%Nov 29, 2023Yield to maturity4.257%Dec 5, 2023Yield to maturity4.189%Dec 11, 2023Yield to maturity4.289%Dec 15, 2023Yield to maturity3.962%Dec 21, 2023Yield to maturity3.924%Dec 28, 2023Yield to maturity3.878%Jan 4, 2024Yield to maturity4.000%Jan 10, 2024Yield to maturity4.007%Jan 17, 2024Yield to maturity4.031%Jan 23, 2024Yield to maturity4.062%Jan 29, 2024Yield to maturity3.999%Feb 2, 2024Yield to maturity4.030%Feb 8, 2024Yield to maturity4.156%Feb 14, 2024Yield to maturity4.292%Feb 21, 2024Yield to maturity4.349%Feb 27, 2024Yield to maturity4.382%Mar 4, 2024Yield to maturity4.271%Mar 8, 2024Yield to maturity4.127%Mar 14, 2024Yield to maturity4.361%Mar 20, 2024Yield to maturity4.314%Mar 26, 2024Yield to maturity4.290%Apr 1, 2024Yield to maturity4.406%Apr 5, 2024Yield to maturity4.441%Apr 11, 2024Yield to maturity4.683%Apr 17, 2024Yield to maturity4.686%Apr 23, 2024Yield to maturity4.688%Apr 29, 2024Yield to maturity4.716%May 3, 2024Yield to maturity4.541%May 9, 2024Yield to maturity4.526%May 15, 2024Yield to maturity4.409%May 21, 2024Yield to maturity4.496%May 28, 2024Yield to maturity4.644%Jun 3, 2024Yield to maturity4.500%Jun 7, 2024Yield to maturity4.536%Jun 13, 2024Yield to maturity4.314%Jun 20, 2024Yield to maturity4.342%Jun 26, 2024Yield to maturity4.421%Jul 2, 2024Yield to maturity4.457%Jul 9, 2024Yield to maturity4.311%Jul 15, 2024Yield to maturity4.173%Jul 19, 2024Yield to maturity4.217%Jul 25, 2024Yield to maturity4.200%Jul 31, 2024Yield to maturity4.025%Aug 6, 2024Yield to maturity3.764%Aug 12, 2024Yield to maturity3.789%Aug 16, 2024Yield to maturity3.823%Aug 22, 2024Yield to maturity3.779%Aug 28, 2024Yield to maturity3.699%Sep 4, 2024Yield to maturity3.593%Sep 10, 2024Yield to maturity3.442%Sep 16, 2024Yield to maturity3.422%Sep 20, 2024Yield to maturity3.481%Sep 26, 2024Yield to maturity3.560%Oct 2, 2024Yield to maturity3.558%Oct 8, 2024Yield to maturity3.890%Oct 15, 2024Yield to maturity3.871%Oct 21, 2024Yield to maturity3.971%Oct 25, 2024Yield to maturity4.073%Oct 31, 2024Yield to maturity4.147%Nov 6, 2024Yield to maturity4.260%Nov 13, 2024Yield to maturity4.290%Nov 19, 2024Yield to maturity4.253%Nov 25, 2024Yield to maturity4.207%Dec 2, 2024Yield to maturity4.123%Dec 6, 2024Yield to maturity4.066%Dec 12, 2024Yield to maturity4.172%Dec 18, 2024Yield to maturity4.376%Dec 24, 2024Yield to maturity4.427%Dec 31, 2024Yield to maturity4.331%Jan 7, 2025Yield to maturity4.391%Jan 13, 2025Yield to maturity4.532%Jan 17, 2025Yield to maturity4.365%Jan 24, 2025Yield to maturity4.366%Jan 30, 2025Yield to maturity4.257%Feb 5, 2025Yield to maturity4.208%Feb 11, 2025Yield to maturity4.320%Feb 18, 2025Yield to maturity4.352%Feb 24, 2025Yield to maturity4.191%Feb 28, 2025Yield to maturity4.009%Mar 6, 2025Yield to maturity4.009%Mar 12, 2025Yield to maturity4.019%Mar 18, 2025Yield to maturity4.029%Mar 24, 2025Yield to maturity4.029%Mar 28, 2025Yield to maturity3.916%Apr 3, 2025Yield to maturity3.689%Apr 9, 2025Yield to maturity3.946%Apr 15, 2025Yield to maturity3.863%Apr 21, 2025Yield to maturity3.789%Apr 25, 2025Yield to maturity3.767%May 1, 2025Yield to maturity3.692%May 7, 2025Yield to maturity3.754%May 13, 2025Yield to maturity4.020%May 19, 2025Yield to maturity3.956%May 23, 2025Yield to maturity3.966%May 30, 2025Yield to maturity3.880%Jun 5, 2025Yield to maturity3.901%Jun 11, 2025Yield to maturity3.923%Jun 17, 2025Yield to maturity3.900%Jun 24, 2025Yield to maturity3.756%Jun 30, 2025Yield to maturity3.700%Jul 7, 2025Yield to maturity3.865%Jul 11, 2025Yield to maturity3.876%Jul 17, 2025Yield to maturity3.886%Jul 23, 2025Yield to maturity3.829%Jul 29, 2025Yield to maturity3.816%Aug 4, 2025Yield to maturity3.656%Aug 8, 2025Yield to maturity3.734%Aug 14, 2025Yield to maturity3.698%Aug 20, 2025Yield to maturity3.697%Aug 26, 2025Yield to maturity3.625%Sep 2, 2025Yield to maturity3.623%Sep 8, 2025Yield to maturity3.468%Sep 12, 2025Yield to maturity3.536%Sep 18, 2025Yield to maturity3.558%Sep 24, 2025Yield to maturity3.603%Sep 30, 2025Yield to maturity3.613%Oct 6, 2025Yield to maturity3.610%Oct 10, 2025Yield to maturity3.523%Oct 17, 2025Yield to maturity3.460%Oct 23, 2025Yield to maturity3.482%Oct 29, 2025Yield to maturity3.590%Nov 4, 2025Yield to maturity3.575%Nov 10, 2025Yield to maturity3.585%Nov 17, 2025Yield to maturity3.607%Nov 21, 2025Yield to maturity3.492%Nov 28, 2025Yield to maturity3.476%Dec 4, 2025Yield to maturity3.525%Dec 10, 2025Yield to maturity3.560%Dec 16, 2025Yield to maturity3.494%Dec 22, 2025Yield to maturity3.530%Dec 29, 2025Yield to maturity3.487%Jan 5, 2026Yield to maturity3.483%Jan 9, 2026Yield to maturity3.559%Jan 15, 2026Yield to maturity3.584%Jan 22, 2026Yield to maturity3.634%Jan 28, 2026Yield to maturity3.618%Feb 3, 2026Yield to maturity3.588%Feb 9, 2026Yield to maturity3.503%Feb 13, 2026Yield to maturity3.403%Feb 20, 2026Yield to maturity3.468%Feb 26, 2026Yield to maturity3.438%Mar 4, 2026Yield to maturity3.532%Mar 10, 2026Yield to maturity3.585%Mar 16, 2026Yield to maturity3.682%Mar 20, 2026Yield to maturity3.911%Mar 26, 2026Yield to maturity3.998%Apr 1, 2026Yield to maturity3.822%Apr 7, 2026Yield to maturity3.821%Apr 13, 2026Yield to maturity3.790%Apr 17, 2026Yield to maturity3.699%Apr 23, 2026Yield to maturity3.832%Apr 29, 2026Yield to maturity3.937%May 5, 2026Yield to maturity3.952%May 11, 2026Yield to maturity3.952%May 15, 2026Yield to maturity4.091%May 21, 2026Yield to maturity4.092%May 28, 2026Yield to maturity4.030%Jun 3, 2026Yield to maturity4.094%Jun 9, 2026Yield to maturity4.143%Jun 15, 2026Yield to maturity4.080%Jun 22, 2026Yield to maturity4.244%Jun 26, 2026Yield to maturity4.098%Jul 2, 2026Yield to maturity4.149%Jul 9, 2026Yield to maturity4.166%Jul 15, 2026Yield to maturity4.133%Jul 21, 2026Yield to maturity4.270%Jul 27, 2026Yield to maturity4.323%Jul 31, 2026Yield to maturity4.291%Aug 6, 2026Yield to maturity4.258%Aug 12, 2026Yield to maturity4.207%Aug 18, 2026Yield to maturity4.174%Aug 24, 2026Yield to maturity4.228%Aug 28, 2026Yield to maturity4.338%Sep 3, 2026Yield to maturity4.340%Sep 9, 2026Yield to maturity4.416%

Price history

800 trading days to Sep 9, 2026

96979899100101102103Jun 30, 2023Sep 9, 2026Jun 30, 2023Close99.438Jul 7, 2023Close98.469Jul 13, 2023Close100.281Jul 19, 2023Close100.063Jul 25, 2023Close99.188Jul 31, 2023Close99.125Aug 4, 2023Close99.281Aug 10, 2023Close99.000Aug 16, 2023Close98.125Aug 22, 2023Close97.813Aug 28, 2023Close98.219Sep 1, 2023Close98.594Sep 8, 2023Close98.156Sep 14, 2023Close98.063Sep 20, 2023Close97.625Sep 26, 2023Close97.250Oct 2, 2023Close96.906Oct 6, 2023Close96.813Oct 13, 2023Close97.219Oct 19, 2023Close96.031Oct 25, 2023Close96.188Oct 31, 2023Close96.563Nov 6, 2023Close97.438Nov 10, 2023Close97.219Nov 16, 2023Close98.156Nov 22, 2023Close98.094Nov 29, 2023Close98.938Dec 5, 2023Close99.219Dec 11, 2023Close98.813Dec 15, 2023Close100.156Dec 21, 2023Close100.313Dec 28, 2023Close100.500Jan 4, 2024Close100.000Jan 10, 2024Close99.969Jan 17, 2024Close99.875Jan 23, 2024Close99.750Jan 29, 2024Close100.000Feb 2, 2024Close99.875Feb 8, 2024Close99.375Feb 14, 2024Close98.844Feb 21, 2024Close98.625Feb 27, 2024Close98.500Mar 4, 2024Close98.938Mar 8, 2024Close99.500Mar 14, 2024Close98.594Mar 20, 2024Close98.781Mar 26, 2024Close98.875Apr 1, 2024Close98.438Apr 5, 2024Close98.313Apr 11, 2024Close97.406Apr 17, 2024Close97.406Apr 23, 2024Close97.406Apr 29, 2024Close97.313May 3, 2024Close97.969May 9, 2024Close98.031May 15, 2024Close98.469May 21, 2024Close98.156May 28, 2024Close97.625Jun 3, 2024Close98.156Jun 7, 2024Close98.031Jun 13, 2024Close98.844Jun 20, 2024Close98.750Jun 26, 2024Close98.469Jul 2, 2024Close98.344Jul 9, 2024Close98.875Jul 15, 2024Close99.375Jul 19, 2024Close99.219Jul 25, 2024Close99.281Jul 31, 2024Close99.906Aug 6, 2024Close100.844Aug 12, 2024Close100.750Aug 16, 2024Close100.625Aug 22, 2024Close100.781Aug 28, 2024Close101.063Sep 4, 2024Close101.438Sep 10, 2024Close101.969Sep 16, 2024Close102.031Sep 20, 2024Close101.813Sep 26, 2024Close101.531Oct 2, 2024Close101.531Oct 8, 2024Close100.375Oct 15, 2024Close100.438Oct 21, 2024Close100.094Oct 25, 2024Close99.750Oct 31, 2024Close99.500Nov 6, 2024Close99.125Nov 13, 2024Close99.031Nov 19, 2024Close99.156Nov 25, 2024Close99.313Dec 2, 2024Close99.594Dec 6, 2024Close99.781Dec 12, 2024Close99.438Dec 18, 2024Close98.781Dec 24, 2024Close98.625Dec 31, 2024Close98.938Jan 7, 2025Close98.750Jan 13, 2025Close98.313Jan 17, 2025Close98.844Jan 24, 2025Close98.844Jan 30, 2025Close99.188Feb 5, 2025Close99.344Feb 11, 2025Close99.000Feb 18, 2025Close98.906Feb 24, 2025Close99.406Feb 28, 2025Close99.969Mar 6, 2025Close99.969Mar 12, 2025Close99.938Mar 18, 2025Close99.906Mar 24, 2025Close99.906Mar 28, 2025Close100.250Apr 3, 2025Close100.938Apr 9, 2025Close100.156Apr 15, 2025Close100.406Apr 21, 2025Close100.625Apr 25, 2025Close100.688May 1, 2025Close100.906May 7, 2025Close100.719May 13, 2025Close99.938May 19, 2025Close100.125May 23, 2025Close100.094May 30, 2025Close100.344Jun 5, 2025Close100.281Jun 11, 2025Close100.219Jun 17, 2025Close100.281Jun 24, 2025Close100.688Jun 30, 2025Close100.844Jul 7, 2025Close100.375Jul 11, 2025Close100.344Jul 17, 2025Close100.313Jul 23, 2025Close100.469Jul 29, 2025Close100.500Aug 4, 2025Close100.938Aug 8, 2025Close100.719Aug 14, 2025Close100.813Aug 20, 2025Close100.813Aug 26, 2025Close101.000Sep 2, 2025Close101.000Sep 8, 2025Close101.406Sep 12, 2025Close101.219Sep 18, 2025Close101.156Sep 24, 2025Close101.031Sep 30, 2025Close101.000Oct 6, 2025Close101.000Oct 10, 2025Close101.219Oct 17, 2025Close101.375Oct 23, 2025Close101.313Oct 29, 2025Close101.031Nov 4, 2025Close101.063Nov 10, 2025Close101.031Nov 17, 2025Close100.969Nov 21, 2025Close101.250Nov 28, 2025Close101.281Dec 4, 2025Close101.156Dec 10, 2025Close101.063Dec 16, 2025Close101.219Dec 22, 2025Close101.125Dec 29, 2025Close101.219Jan 5, 2026Close101.219Jan 9, 2026Close101.031Jan 15, 2026Close100.969Jan 22, 2026Close100.844Jan 28, 2026Close100.875Feb 3, 2026Close100.938Feb 9, 2026Close101.125Feb 13, 2026Close101.344Feb 20, 2026Close101.188Feb 26, 2026Close101.250Mar 4, 2026Close101.031Mar 10, 2026Close100.906Mar 16, 2026Close100.688Mar 20, 2026Close100.188Mar 26, 2026Close100.000Apr 1, 2026Close100.375Apr 7, 2026Close100.375Apr 13, 2026Close100.438Apr 17, 2026Close100.625Apr 23, 2026Close100.344Apr 29, 2026Close100.125May 5, 2026Close100.094May 11, 2026Close100.094May 15, 2026Close99.813May 21, 2026Close99.813May 28, 2026Close99.938Jun 3, 2026Close99.813Jun 9, 2026Close99.719Jun 15, 2026Close99.844Jun 22, 2026Close99.531Jun 26, 2026Close99.813Jul 2, 2026Close99.719Jul 9, 2026Close99.688Jul 15, 2026Close99.750Jul 21, 2026Close99.500Jul 27, 2026Close99.406Jul 31, 2026Close99.469Aug 6, 2026Close99.531Aug 12, 2026Close99.625Aug 18, 2026Close99.688Aug 24, 2026Close99.594Aug 28, 2026Close99.406Sep 3, 2026Close99.406Sep 9, 2026Close99.281
The most recent 20 trading days of prices for 91282CHK0.
DateBidOfferClose
Sep 9, 202699.29799.28199.281
Sep 8, 202699.35999.34499.344
Sep 4, 202699.39199.37599.375
Sep 3, 202699.45399.43899.406
Sep 2, 202699.35999.34499.344
Sep 1, 202699.37599.37599.313
Aug 31, 202699.42299.40699.406
Aug 28, 202699.45399.43899.406
Aug 27, 202699.64199.62599.594
Aug 26, 202699.64199.62599.625
Aug 25, 202699.65699.65699.656
Aug 24, 202699.60999.59499.594
Aug 21, 202699.57899.56399.594
Aug 20, 202699.67299.65699.688
Aug 19, 202699.67299.65699.688
Aug 18, 202699.70399.68899.688
Aug 17, 202699.71999.71999.688
Aug 14, 202699.75099.75099.688
Aug 13, 202699.75099.75099.750
Aug 12, 202699.67299.65699.625

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 91282CHK0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 27, 2023Jun 30, 2023New issue$43.0bn$43.0bn2.52x4.019%

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.