Treasury note

91282CHR5 · 4% due July 31, 2030

Original term
7-Year
Maturity
Jul 31, 2030
Coupon
4.000%
Pays
Semi-Annual
Dated
Jul 31, 2023
First coupon
Jan 31, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$33.76bn
Held stripped
$6.5m
Share stripped
0.02%

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
4.575%
Modified duration
3.540 yr
DV01
0.0348
Convexity
14.843
Dirty price
98.414

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 3.620 years against a modified duration of 3.540.

Against the fitted curve

Priced 0.4 bp rich to the curve on that day, 1.38 cents per 100 of face.

That is -0.97 standard deviations from its own typical residual.

Yield to maturity, 780 observations

3.00%3.50%4.00%4.50%5.00%5.50%Jul 31, 2023Sep 9, 2026Jul 31, 2023Yield to maturity4.083%Aug 4, 2023Yield to maturity4.099%Aug 10, 2023Yield to maturity4.167%Aug 16, 2023Yield to maturity4.368%Aug 22, 2023Yield to maturity4.438%Aug 28, 2023Yield to maturity4.321%Sep 1, 2023Yield to maturity4.268%Sep 8, 2023Yield to maturity4.355%Sep 14, 2023Yield to maturity4.382%Sep 20, 2023Yield to maturity4.464%Sep 26, 2023Yield to maturity4.623%Oct 2, 2023Yield to maturity4.741%Oct 6, 2023Yield to maturity4.804%Oct 13, 2023Yield to maturity4.672%Oct 19, 2023Yield to maturity5.015%Oct 25, 2023Yield to maturity4.983%Oct 31, 2023Yield to maturity4.906%Nov 6, 2023Yield to maturity4.671%Nov 10, 2023Yield to maturity4.689%Nov 16, 2023Yield to maturity4.484%Nov 22, 2023Yield to maturity4.474%Nov 29, 2023Yield to maturity4.298%Dec 5, 2023Yield to maturity4.206%Dec 11, 2023Yield to maturity4.289%Dec 15, 2023Yield to maturity3.951%Dec 21, 2023Yield to maturity3.918%Dec 28, 2023Yield to maturity3.869%Jan 4, 2024Yield to maturity4.010%Jan 10, 2024Yield to maturity4.032%Jan 17, 2024Yield to maturity4.082%Jan 23, 2024Yield to maturity4.105%Jan 29, 2024Yield to maturity4.033%Feb 2, 2024Yield to maturity4.028%Feb 8, 2024Yield to maturity4.167%Feb 14, 2024Yield to maturity4.285%Feb 21, 2024Yield to maturity4.342%Feb 27, 2024Yield to maturity4.348%Mar 4, 2024Yield to maturity4.247%Mar 8, 2024Yield to maturity4.095%Mar 14, 2024Yield to maturity4.322%Mar 20, 2024Yield to maturity4.282%Mar 26, 2024Yield to maturity4.249%Apr 1, 2024Yield to maturity4.353%Apr 5, 2024Yield to maturity4.405%Apr 11, 2024Yield to maturity4.617%Apr 17, 2024Yield to maturity4.624%Apr 23, 2024Yield to maturity4.631%Apr 29, 2024Yield to maturity4.662%May 3, 2024Yield to maturity4.498%May 9, 2024Yield to maturity4.469%May 15, 2024Yield to maturity4.359%May 21, 2024Yield to maturity4.430%May 28, 2024Yield to maturity4.580%Jun 3, 2024Yield to maturity4.432%Jun 7, 2024Yield to maturity4.457%Jun 13, 2024Yield to maturity4.245%Jun 20, 2024Yield to maturity4.263%Jun 26, 2024Yield to maturity4.341%Jul 2, 2024Yield to maturity4.408%Jul 9, 2024Yield to maturity4.260%Jul 15, 2024Yield to maturity4.159%Jul 19, 2024Yield to maturity4.189%Jul 25, 2024Yield to maturity4.190%Jul 31, 2024Yield to maturity3.994%Aug 6, 2024Yield to maturity3.776%Aug 12, 2024Yield to maturity3.787%Aug 16, 2024Yield to maturity3.804%Aug 22, 2024Yield to maturity3.763%Aug 28, 2024Yield to maturity3.721%Sep 4, 2024Yield to maturity3.632%Sep 10, 2024Yield to maturity3.496%Sep 16, 2024Yield to maturity3.477%Sep 20, 2024Yield to maturity3.558%Sep 26, 2024Yield to maturity3.622%Oct 2, 2024Yield to maturity3.610%Oct 8, 2024Yield to maturity3.908%Oct 15, 2024Yield to maturity3.902%Oct 21, 2024Yield to maturity4.030%Oct 25, 2024Yield to maturity4.116%Oct 31, 2024Yield to maturity4.184%Nov 6, 2024Yield to maturity4.328%Nov 13, 2024Yield to maturity4.342%Nov 19, 2024Yield to maturity4.292%Nov 25, 2024Yield to maturity4.199%Dec 2, 2024Yield to maturity4.118%Dec 6, 2024Yield to maturity4.074%Dec 12, 2024Yield to maturity4.219%Dec 18, 2024Yield to maturity4.418%Dec 24, 2024Yield to maturity4.477%Dec 31, 2024Yield to maturity4.427%Jan 7, 2025Yield to maturity4.506%Jan 13, 2025Yield to maturity4.652%Jan 17, 2025Yield to maturity4.451%Jan 24, 2025Yield to maturity4.472%Jan 30, 2025Yield to maturity4.348%Feb 5, 2025Yield to maturity4.277%Feb 11, 2025Yield to maturity4.409%Feb 18, 2025Yield to maturity4.436%Feb 24, 2025Yield to maturity4.266%Feb 28, 2025Yield to maturity4.071%Mar 6, 2025Yield to maturity4.103%Mar 12, 2025Yield to maturity4.123%Mar 18, 2025Yield to maturity4.110%Mar 24, 2025Yield to maturity4.130%Mar 28, 2025Yield to maturity4.019%Apr 3, 2025Yield to maturity3.784%Apr 9, 2025Yield to maturity4.098%Apr 15, 2025Yield to maturity4.025%Apr 21, 2025Yield to maturity4.012%Apr 25, 2025Yield to maturity3.926%May 1, 2025Yield to maturity3.853%May 7, 2025Yield to maturity3.906%May 13, 2025Yield to maturity4.154%May 19, 2025Yield to maturity4.093%May 23, 2025Yield to maturity4.121%May 30, 2025Yield to maturity4.006%Jun 5, 2025Yield to maturity4.026%Jun 11, 2025Yield to maturity4.040%Jun 17, 2025Yield to maturity4.006%Jun 24, 2025Yield to maturity3.883%Jun 30, 2025Yield to maturity3.808%Jul 7, 2025Yield to maturity3.979%Jul 11, 2025Yield to maturity4.007%Jul 17, 2025Yield to maturity4.020%Jul 23, 2025Yield to maturity3.958%Jul 29, 2025Yield to maturity3.917%Aug 4, 2025Yield to maturity3.764%Aug 8, 2025Yield to maturity3.846%Aug 14, 2025Yield to maturity3.832%Aug 20, 2025Yield to maturity3.818%Aug 26, 2025Yield to maturity3.754%Sep 2, 2025Yield to maturity3.753%Sep 8, 2025Yield to maturity3.578%Sep 12, 2025Yield to maturity3.639%Sep 18, 2025Yield to maturity3.674%Sep 24, 2025Yield to maturity3.722%Sep 30, 2025Yield to maturity3.742%Oct 6, 2025Yield to maturity3.749%Oct 10, 2025Yield to maturity3.648%Oct 17, 2025Yield to maturity3.590%Oct 23, 2025Yield to maturity3.603%Oct 29, 2025Yield to maturity3.702%Nov 4, 2025Yield to maturity3.694%Nov 10, 2025Yield to maturity3.708%Nov 17, 2025Yield to maturity3.714%Nov 21, 2025Yield to maturity3.612%Nov 28, 2025Yield to maturity3.596%Dec 4, 2025Yield to maturity3.668%Dec 10, 2025Yield to maturity3.703%Dec 16, 2025Yield to maturity3.673%Dec 22, 2025Yield to maturity3.694%Dec 29, 2025Yield to maturity3.641%Jan 5, 2026Yield to maturity3.670%Jan 9, 2026Yield to maturity3.721%Jan 15, 2026Yield to maturity3.736%Jan 22, 2026Yield to maturity3.818%Jan 28, 2026Yield to maturity3.802%Feb 3, 2026Yield to maturity3.794%Feb 9, 2026Yield to maturity3.709%Feb 13, 2026Yield to maturity3.571%Feb 20, 2026Yield to maturity3.623%Feb 26, 2026Yield to maturity3.553%Mar 4, 2026Yield to maturity3.643%Mar 10, 2026Yield to maturity3.704%Mar 16, 2026Yield to maturity3.780%Mar 20, 2026Yield to maturity3.999%Mar 26, 2026Yield to maturity4.078%Apr 1, 2026Yield to maturity3.936%Apr 7, 2026Yield to maturity3.927%Apr 13, 2026Yield to maturity3.887%Apr 17, 2026Yield to maturity3.815%Apr 23, 2026Yield to maturity3.935%Apr 29, 2026Yield to maturity4.031%May 5, 2026Yield to maturity4.047%May 11, 2026Yield to maturity4.047%May 15, 2026Yield to maturity4.236%May 21, 2026Yield to maturity4.220%May 28, 2026Yield to maturity4.139%Jun 3, 2026Yield to maturity4.189%Jun 9, 2026Yield to maturity4.240%Jun 15, 2026Yield to maturity4.165%Jun 22, 2026Yield to maturity4.284%Jun 26, 2026Yield to maturity4.125%Jul 2, 2026Yield to maturity4.219%Jul 9, 2026Yield to maturity4.245%Jul 15, 2026Yield to maturity4.229%Jul 21, 2026Yield to maturity4.350%Jul 27, 2026Yield to maturity4.386%Jul 31, 2026Yield to maturity4.414%Aug 6, 2026Yield to maturity4.363%Aug 12, 2026Yield to maturity4.338%Aug 18, 2026Yield to maturity4.321%Aug 24, 2026Yield to maturity4.375%Aug 28, 2026Yield to maturity4.465%Sep 3, 2026Yield to maturity4.475%Sep 9, 2026Yield to maturity4.575%

Price history

780 trading days to Sep 9, 2026

949698100102104Jul 31, 2023Sep 9, 2026Jul 31, 2023Close99.500Aug 4, 2023Close99.406Aug 10, 2023Close99.000Aug 16, 2023Close97.813Aug 22, 2023Close97.406Aug 28, 2023Close98.094Sep 1, 2023Close98.406Sep 8, 2023Close97.906Sep 14, 2023Close97.750Sep 20, 2023Close97.281Sep 26, 2023Close96.375Oct 2, 2023Close95.719Oct 6, 2023Close95.375Oct 13, 2023Close96.125Oct 19, 2023Close94.219Oct 25, 2023Close94.406Oct 31, 2023Close94.844Nov 6, 2023Close96.156Nov 10, 2023Close96.063Nov 16, 2023Close97.219Nov 22, 2023Close97.281Nov 29, 2023Close98.281Dec 5, 2023Close98.813Dec 11, 2023Close98.344Dec 15, 2023Close100.281Dec 21, 2023Close100.469Dec 28, 2023Close100.750Jan 4, 2024Close99.938Jan 10, 2024Close99.813Jan 17, 2024Close99.531Jan 23, 2024Close99.406Jan 29, 2024Close99.813Feb 2, 2024Close99.844Feb 8, 2024Close99.063Feb 14, 2024Close98.406Feb 21, 2024Close98.094Feb 27, 2024Close98.063Mar 4, 2024Close98.625Mar 8, 2024Close99.469Mar 14, 2024Close98.219Mar 20, 2024Close98.438Mar 26, 2024Close98.625Apr 1, 2024Close98.063Apr 5, 2024Close97.781Apr 11, 2024Close96.656Apr 17, 2024Close96.625Apr 23, 2024Close96.594Apr 29, 2024Close96.438May 3, 2024Close97.313May 9, 2024Close97.469May 15, 2024Close98.063May 21, 2024Close97.688May 28, 2024Close96.906Jun 3, 2024Close97.688Jun 7, 2024Close97.563Jun 13, 2024Close98.688Jun 20, 2024Close98.594Jun 26, 2024Close98.188Jul 2, 2024Close97.844Jul 9, 2024Close98.625Jul 15, 2024Close99.156Jul 19, 2024Close99.000Jul 25, 2024Close99.000Jul 31, 2024Close100.031Aug 6, 2024Close101.188Aug 12, 2024Close101.125Aug 16, 2024Close101.031Aug 22, 2024Close101.250Aug 28, 2024Close101.469Sep 4, 2024Close101.938Sep 10, 2024Close102.656Sep 16, 2024Close102.750Sep 20, 2024Close102.313Sep 26, 2024Close101.969Oct 2, 2024Close102.031Oct 8, 2024Close100.469Oct 15, 2024Close100.500Oct 21, 2024Close99.844Oct 25, 2024Close99.406Oct 31, 2024Close99.063Nov 6, 2024Close98.344Nov 13, 2024Close98.281Nov 19, 2024Close98.531Nov 25, 2024Close99.000Dec 2, 2024Close99.406Dec 6, 2024Close99.625Dec 12, 2024Close98.906Dec 18, 2024Close97.938Dec 24, 2024Close97.656Dec 31, 2024Close97.906Jan 7, 2025Close97.531Jan 13, 2025Close96.844Jan 17, 2025Close97.813Jan 24, 2025Close97.719Jan 30, 2025Close98.313Feb 5, 2025Close98.656Feb 11, 2025Close98.031Feb 18, 2025Close97.906Feb 24, 2025Close98.719Feb 28, 2025Close99.656Mar 6, 2025Close99.500Mar 12, 2025Close99.406Mar 18, 2025Close99.469Mar 24, 2025Close99.375Mar 28, 2025Close99.906Apr 3, 2025Close101.031Apr 9, 2025Close99.531Apr 15, 2025Close99.875Apr 21, 2025Close99.938Apr 25, 2025Close100.344May 1, 2025Close100.688May 7, 2025Close100.438May 13, 2025Close99.281May 19, 2025Close99.563May 23, 2025Close99.438May 30, 2025Close99.969Jun 5, 2025Close99.875Jun 11, 2025Close99.813Jun 17, 2025Close99.969Jun 24, 2025Close100.531Jun 30, 2025Close100.875Jul 7, 2025Close100.094Jul 11, 2025Close99.969Jul 17, 2025Close99.906Jul 23, 2025Close100.188Jul 29, 2025Close100.375Aug 4, 2025Close101.063Aug 8, 2025Close100.688Aug 14, 2025Close100.750Aug 20, 2025Close100.813Aug 26, 2025Close101.094Sep 2, 2025Close101.094Sep 8, 2025Close101.875Sep 12, 2025Close101.594Sep 18, 2025Close101.438Sep 24, 2025Close101.219Sep 30, 2025Close101.125Oct 6, 2025Close101.094Oct 10, 2025Close101.531Oct 17, 2025Close101.781Oct 23, 2025Close101.719Oct 29, 2025Close101.281Nov 4, 2025Close101.313Nov 10, 2025Close101.250Nov 17, 2025Close101.219Nov 21, 2025Close101.656Nov 28, 2025Close101.719Dec 4, 2025Close101.406Dec 10, 2025Close101.250Dec 16, 2025Close101.375Dec 22, 2025Close101.281Dec 29, 2025Close101.500Jan 5, 2026Close101.375Jan 9, 2026Close101.156Jan 15, 2026Close101.094Jan 22, 2026Close100.750Jan 28, 2026Close100.813Feb 3, 2026Close100.844Feb 9, 2026Close101.188Feb 13, 2026Close101.750Feb 20, 2026Close101.531Feb 26, 2026Close101.813Mar 4, 2026Close101.438Mar 10, 2026Close101.188Mar 16, 2026Close100.875Mar 20, 2026Close100.000Mar 26, 2026Close99.688Apr 1, 2026Close100.250Apr 7, 2026Close100.281Apr 13, 2026Close100.438Apr 17, 2026Close100.719Apr 23, 2026Close100.250Apr 29, 2026Close99.875May 5, 2026Close99.813May 11, 2026Close99.813May 15, 2026Close99.094May 21, 2026Close99.156May 28, 2026Close99.469Jun 3, 2026Close99.281Jun 9, 2026Close99.094Jun 15, 2026Close99.375Jun 22, 2026Close98.938Jun 26, 2026Close99.531Jul 2, 2026Close99.188Jul 9, 2026Close99.094Jul 15, 2026Close99.156Jul 21, 2026Close98.719Jul 27, 2026Close98.594Jul 31, 2026Close98.500Aug 6, 2026Close98.688Aug 12, 2026Close98.781Aug 18, 2026Close98.844Aug 24, 2026Close98.656Aug 28, 2026Close98.344Sep 3, 2026Close98.313Sep 9, 2026Close97.969
The most recent 20 trading days of prices for 91282CHR5.
DateBidOfferClose
Sep 9, 202697.98497.96997.969
Sep 8, 202698.15698.12598.125
Sep 4, 202698.23498.21998.188
Sep 3, 202698.39198.37598.313
Sep 2, 202698.17298.15698.156
Sep 1, 202698.26698.25098.156
Aug 31, 202698.35998.34498.344
Aug 28, 202698.46998.43898.344
Aug 27, 202698.79798.78198.719
Aug 26, 202698.79798.78198.750
Aug 25, 202698.85998.84498.875
Aug 24, 202698.73498.71998.656
Aug 21, 202698.64198.62598.625
Aug 20, 202698.79798.78198.781
Aug 19, 202698.85998.84498.875
Aug 18, 202698.85998.84498.844
Aug 17, 202698.87598.84498.813
Aug 14, 202698.95398.93898.844
Aug 13, 202699.01699.00099.000
Aug 12, 202698.85998.84498.781

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 91282CHR5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 27, 2023Jul 31, 2023New issue$35.0bn$35.0bn2.48x4.087%

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.