Treasury note

91282CHT1 · 3.875% due August 15, 2033

Original term
10-Year
Maturity
Aug 15, 2033
Coupon
3.875%
Pays
Semi-Annual
Dated
Aug 15, 2023
First coupon
Feb 15, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$121.58bn
Held stripped
$26.6m
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
4.724%
Modified duration
5.961 yr
DV01
0.0568
Convexity
41.432
Dirty price
95.305

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 7 of twelve buckets, summing to 6.099 years against a modified duration of 5.961.

Against the fitted curve

Priced 3.5 bp cheap to the curve on that day, 19.93 cents per 100 of face.

That is 1.24 standard deviations from its own typical residual.

Yield to maturity, 769 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%Aug 15, 2023Sep 9, 2026Aug 15, 2023Yield to maturity4.211%Aug 21, 2023Yield to maturity4.334%Aug 25, 2023Yield to maturity4.243%Aug 31, 2023Yield to maturity4.091%Sep 7, 2023Yield to maturity4.264%Sep 13, 2023Yield to maturity4.248%Sep 19, 2023Yield to maturity4.365%Sep 25, 2023Yield to maturity4.544%Sep 29, 2023Yield to maturity4.585%Oct 5, 2023Yield to maturity4.714%Oct 12, 2023Yield to maturity4.699%Oct 18, 2023Yield to maturity4.902%Oct 24, 2023Yield to maturity4.831%Oct 30, 2023Yield to maturity4.875%Nov 3, 2023Yield to maturity4.562%Nov 9, 2023Yield to maturity4.650%Nov 15, 2023Yield to maturity4.543%Nov 21, 2023Yield to maturity4.429%Nov 28, 2023Yield to maturity4.360%Dec 4, 2023Yield to maturity4.300%Dec 8, 2023Yield to maturity4.244%Dec 14, 2023Yield to maturity3.925%Dec 20, 2023Yield to maturity3.867%Dec 27, 2023Yield to maturity3.796%Jan 3, 2024Yield to maturity3.910%Jan 9, 2024Yield to maturity4.017%Jan 16, 2024Yield to maturity4.069%Jan 22, 2024Yield to maturity4.102%Jan 26, 2024Yield to maturity4.147%Feb 1, 2024Yield to maturity3.859%Feb 7, 2024Yield to maturity4.103%Feb 13, 2024Yield to maturity4.328%Feb 20, 2024Yield to maturity4.292%Feb 26, 2024Yield to maturity4.300%Mar 1, 2024Yield to maturity4.202%Mar 7, 2024Yield to maturity4.104%Mar 13, 2024Yield to maturity4.207%Mar 19, 2024Yield to maturity4.311%Mar 25, 2024Yield to maturity4.261%Mar 29, 2024Yield to maturity4.216%Apr 4, 2024Yield to maturity4.321%Apr 10, 2024Yield to maturity4.567%Apr 16, 2024Yield to maturity4.675%Apr 22, 2024Yield to maturity4.629%Apr 26, 2024Yield to maturity4.682%May 2, 2024Yield to maturity4.583%May 8, 2024Yield to maturity4.503%May 14, 2024Yield to maturity4.465%May 20, 2024Yield to maturity4.453%May 24, 2024Yield to maturity4.480%May 31, 2024Yield to maturity4.524%Jun 6, 2024Yield to maturity4.294%Jun 12, 2024Yield to maturity4.328%Jun 18, 2024Yield to maturity4.236%Jun 25, 2024Yield to maturity4.245%Jul 1, 2024Yield to maturity4.490%Jul 8, 2024Yield to maturity4.280%Jul 12, 2024Yield to maturity4.183%Jul 18, 2024Yield to maturity4.200%Jul 24, 2024Yield to maturity4.273%Jul 30, 2024Yield to maturity4.138%Aug 5, 2024Yield to maturity3.764%Aug 9, 2024Yield to maturity3.950%Aug 15, 2024Yield to maturity3.917%Aug 21, 2024Yield to maturity3.784%Aug 27, 2024Yield to maturity3.825%Sep 3, 2024Yield to maturity3.821%Sep 9, 2024Yield to maturity3.676%Sep 13, 2024Yield to maturity3.627%Sep 19, 2024Yield to maturity3.696%Sep 25, 2024Yield to maturity3.754%Oct 1, 2024Yield to maturity3.712%Oct 7, 2024Yield to maturity4.010%Oct 11, 2024Yield to maturity4.057%Oct 18, 2024Yield to maturity4.049%Oct 24, 2024Yield to maturity4.182%Oct 30, 2024Yield to maturity4.266%Nov 5, 2024Yield to maturity4.275%Nov 12, 2024Yield to maturity4.439%Nov 18, 2024Yield to maturity4.413%Nov 22, 2024Yield to maturity4.405%Nov 29, 2024Yield to maturity4.168%Dec 5, 2024Yield to maturity4.168%Dec 11, 2024Yield to maturity4.252%Dec 17, 2024Yield to maturity4.382%Dec 23, 2024Yield to maturity4.577%Dec 30, 2024Yield to maturity4.528%Jan 6, 2025Yield to maturity4.593%Jan 10, 2025Yield to maturity4.761%Jan 16, 2025Yield to maturity4.572%Jan 23, 2025Yield to maturity4.611%Jan 29, 2025Yield to maturity4.520%Feb 4, 2025Yield to maturity4.480%Feb 10, 2025Yield to maturity4.472%Feb 14, 2025Yield to maturity4.450%Feb 21, 2025Yield to maturity4.392%Feb 27, 2025Yield to maturity4.252%Mar 5, 2025Yield to maturity4.243%Mar 11, 2025Yield to maturity4.230%Mar 17, 2025Yield to maturity4.267%Mar 21, 2025Yield to maturity4.195%Mar 27, 2025Yield to maturity4.318%Apr 2, 2025Yield to maturity4.137%Apr 8, 2025Yield to maturity4.169%Apr 14, 2025Yield to maturity4.306%Apr 18, 2025Yield to maturity4.252%Apr 24, 2025Yield to maturity4.230%Apr 30, 2025Yield to maturity4.053%May 6, 2025Yield to maturity4.208%May 12, 2025Yield to maturity4.365%May 16, 2025Yield to maturity4.338%May 22, 2025Yield to maturity4.432%May 29, 2025Yield to maturity4.312%Jun 4, 2025Yield to maturity4.243%Jun 10, 2025Yield to maturity4.360%Jun 16, 2025Yield to maturity4.338%Jun 23, 2025Yield to maturity4.208%Jun 27, 2025Yield to maturity4.149%Jul 3, 2025Yield to maturity4.219%Jul 10, 2025Yield to maturity4.215%Jul 16, 2025Yield to maturity4.309%Jul 22, 2025Yield to maturity4.197%Jul 28, 2025Yield to maturity4.278%Aug 1, 2025Yield to maturity4.073%Aug 7, 2025Yield to maturity4.082%Aug 13, 2025Yield to maturity4.069%Aug 19, 2025Yield to maturity4.125%Aug 25, 2025Yield to maturity4.102%Aug 29, 2025Yield to maturity4.028%Sep 5, 2025Yield to maturity3.893%Sep 11, 2025Yield to maturity3.838%Sep 17, 2025Yield to maturity3.879%Sep 23, 2025Yield to maturity3.944%Sep 29, 2025Yield to maturity3.991%Oct 3, 2025Yield to maturity3.968%Oct 9, 2025Yield to maturity3.987%Oct 16, 2025Yield to maturity3.805%Oct 22, 2025Yield to maturity3.800%Oct 28, 2025Yield to maturity3.837%Nov 3, 2025Yield to maturity3.959%Nov 7, 2025Yield to maturity3.931%Nov 14, 2025Yield to maturity3.978%Nov 20, 2025Yield to maturity3.922%Nov 26, 2025Yield to maturity3.813%Dec 3, 2025Yield to maturity3.874%Dec 9, 2025Yield to maturity4.013%Dec 15, 2025Yield to maturity3.994%Dec 19, 2025Yield to maturity3.965%Dec 26, 2025Yield to maturity3.956%Jan 2, 2026Yield to maturity4.009%Jan 8, 2026Yield to maturity4.000%Jan 14, 2026Yield to maturity3.966%Jan 21, 2026Yield to maturity4.088%Jan 27, 2026Yield to maturity4.069%Feb 2, 2026Yield to maturity4.099%Feb 6, 2026Yield to maturity4.026%Feb 12, 2026Yield to maturity3.919%Feb 19, 2026Yield to maturity3.889%Feb 25, 2026Yield to maturity3.855%Mar 3, 2026Yield to maturity3.870%Mar 9, 2026Yield to maturity3.938%Mar 13, 2026Yield to maturity4.106%Mar 19, 2026Yield to maturity4.097%Mar 25, 2026Yield to maturity4.182%Mar 31, 2026Yield to maturity4.142%Apr 6, 2026Yield to maturity4.188%Apr 10, 2026Yield to maturity4.153%Apr 16, 2026Yield to maturity4.128%Apr 22, 2026Yield to maturity4.124%Apr 28, 2026Yield to maturity4.185%May 4, 2026Yield to maturity4.282%May 8, 2026Yield to maturity4.212%May 14, 2026Yield to maturity4.310%May 20, 2026Yield to maturity4.409%May 27, 2026Yield to maturity4.337%Jun 2, 2026Yield to maturity4.323%Jun 8, 2026Yield to maturity4.433%Jun 12, 2026Yield to maturity4.356%Jun 18, 2026Yield to maturity4.352%Jun 25, 2026Yield to maturity4.279%Jul 1, 2026Yield to maturity4.364%Jul 8, 2026Yield to maturity4.439%Jul 14, 2026Yield to maturity4.451%Jul 20, 2026Yield to maturity4.463%Jul 24, 2026Yield to maturity4.560%Jul 30, 2026Yield to maturity4.529%Aug 5, 2026Yield to maturity4.477%Aug 11, 2026Yield to maturity4.548%Aug 17, 2026Yield to maturity4.549%Aug 21, 2026Yield to maturity4.578%Aug 27, 2026Yield to maturity4.530%Sep 2, 2026Yield to maturity4.672%Sep 9, 2026Yield to maturity4.724%

Price history

769 trading days to Sep 9, 2026

9092949698100102104Aug 15, 2023Sep 9, 2026Aug 15, 2023Close97.281Aug 21, 2023Close96.313Aug 25, 2023Close97.031Aug 31, 2023Close98.250Sep 7, 2023Close96.875Sep 13, 2023Close97.000Sep 19, 2023Close96.094Sep 25, 2023Close94.719Sep 29, 2023Close94.406Oct 5, 2023Close93.438Oct 12, 2023Close93.563Oct 18, 2023Close92.063Oct 24, 2023Close92.594Oct 30, 2023Close92.281Nov 3, 2023Close94.625Nov 9, 2023Close93.969Nov 15, 2023Close94.781Nov 21, 2023Close95.656Nov 28, 2023Close96.188Dec 4, 2023Close96.656Dec 8, 2023Close97.094Dec 14, 2023Close99.594Dec 20, 2023Close100.063Dec 27, 2023Close100.625Jan 3, 2024Close99.719Jan 9, 2024Close98.875Jan 16, 2024Close98.469Jan 22, 2024Close98.219Jan 26, 2024Close97.875Feb 1, 2024Close100.125Feb 7, 2024Close98.219Feb 13, 2024Close96.500Feb 20, 2024Close96.781Feb 26, 2024Close96.719Mar 1, 2024Close97.469Mar 7, 2024Close98.219Mar 13, 2024Close97.438Mar 19, 2024Close96.656Mar 25, 2024Close97.031Mar 29, 2024Close97.375Apr 4, 2024Close96.594Apr 10, 2024Close94.781Apr 16, 2024Close94.000Apr 22, 2024Close94.344Apr 26, 2024Close93.969May 2, 2024Close94.688May 8, 2024Close95.281May 14, 2024Close95.563May 20, 2024Close95.656May 24, 2024Close95.469May 31, 2024Close95.156Jun 6, 2024Close96.844Jun 12, 2024Close96.594Jun 18, 2024Close97.281Jun 25, 2024Close97.219Jul 1, 2024Close95.438Jul 8, 2024Close96.969Jul 12, 2024Close97.688Jul 18, 2024Close97.563Jul 24, 2024Close97.031Jul 30, 2024Close98.031Aug 5, 2024Close100.844Aug 9, 2024Close99.438Aug 15, 2024Close99.688Aug 21, 2024Close100.688Aug 27, 2024Close100.375Sep 3, 2024Close100.406Sep 9, 2024Close101.500Sep 13, 2024Close101.875Sep 19, 2024Close101.344Sep 25, 2024Close100.906Oct 1, 2024Close101.219Oct 7, 2024Close99.000Oct 11, 2024Close98.656Oct 18, 2024Close98.719Oct 24, 2024Close97.750Oct 30, 2024Close97.156Nov 5, 2024Close97.094Nov 12, 2024Close95.938Nov 18, 2024Close96.125Nov 22, 2024Close96.188Nov 29, 2024Close97.875Dec 5, 2024Close97.875Dec 11, 2024Close97.281Dec 17, 2024Close96.375Dec 23, 2024Close95.031Dec 30, 2024Close95.375Jan 6, 2025Close94.938Jan 10, 2025Close93.813Jan 16, 2025Close95.094Jan 23, 2025Close94.844Jan 29, 2025Close95.469Feb 4, 2025Close95.750Feb 10, 2025Close95.813Feb 14, 2025Close95.969Feb 21, 2025Close96.375Feb 27, 2025Close97.344Mar 5, 2025Close97.406Mar 11, 2025Close97.500Mar 17, 2025Close97.250Mar 21, 2025Close97.750Mar 27, 2025Close96.906Apr 2, 2025Close98.156Apr 8, 2025Close97.938Apr 14, 2025Close97.000Apr 18, 2025Close97.375Apr 24, 2025Close97.531Apr 30, 2025Close98.750May 6, 2025Close97.688May 12, 2025Close96.625May 16, 2025Close96.813May 22, 2025Close96.188May 29, 2025Close97.000Jun 4, 2025Close97.469Jun 10, 2025Close96.688Jun 16, 2025Close96.844Jun 23, 2025Close97.719Jun 27, 2025Close98.125Jul 3, 2025Close97.656Jul 10, 2025Close97.688Jul 16, 2025Close97.063Jul 22, 2025Close97.813Jul 28, 2025Close97.281Aug 1, 2025Close98.656Aug 7, 2025Close98.594Aug 13, 2025Close98.688Aug 19, 2025Close98.313Aug 25, 2025Close98.469Aug 29, 2025Close98.969Sep 5, 2025Close99.875Sep 11, 2025Close100.250Sep 17, 2025Close99.969Sep 23, 2025Close99.531Sep 29, 2025Close99.219Oct 3, 2025Close99.375Oct 9, 2025Close99.250Oct 16, 2025Close100.469Oct 22, 2025Close100.500Oct 28, 2025Close100.250Nov 3, 2025Close99.438Nov 7, 2025Close99.625Nov 14, 2025Close99.313Nov 20, 2025Close99.688Nov 26, 2025Close100.406Dec 3, 2025Close100.000Dec 9, 2025Close99.094Dec 15, 2025Close99.219Dec 19, 2025Close99.406Dec 26, 2025Close99.469Jan 2, 2026Close99.125Jan 8, 2026Close99.188Jan 14, 2026Close99.406Jan 21, 2026Close98.625Jan 27, 2026Close98.750Feb 2, 2026Close98.563Feb 6, 2026Close99.031Feb 12, 2026Close99.719Feb 19, 2026Close99.906Feb 25, 2026Close100.125Mar 3, 2026Close100.031Mar 9, 2026Close99.594Mar 13, 2026Close98.531Mar 19, 2026Close98.594Mar 25, 2026Close98.063Mar 31, 2026Close98.313Apr 6, 2026Close98.031Apr 10, 2026Close98.250Apr 16, 2026Close98.406Apr 22, 2026Close98.438Apr 28, 2026Close98.063May 4, 2026Close97.469May 8, 2026Close97.906May 14, 2026Close97.313May 20, 2026Close96.719May 27, 2026Close97.156Jun 2, 2026Close97.250Jun 8, 2026Close96.594Jun 12, 2026Close97.063Jun 18, 2026Close97.094Jun 25, 2026Close97.531Jul 1, 2026Close97.031Jul 8, 2026Close96.594Jul 14, 2026Close96.531Jul 20, 2026Close96.469Jul 24, 2026Close95.906Jul 30, 2026Close96.094Aug 5, 2026Close96.406Aug 11, 2026Close96.000Aug 17, 2026Close96.000Aug 21, 2026Close95.844Aug 27, 2026Close96.125Sep 2, 2026Close95.313Sep 9, 2026Close95.031
The most recent 20 trading days of prices for 91282CHT1.
DateBidOfferClose
Sep 9, 202695.01695.00095.031
Sep 8, 202695.32895.31395.250
Sep 4, 202695.45395.43895.375
Sep 3, 202695.64195.62595.500
Sep 2, 202695.31395.28195.313
Sep 1, 202695.48495.46995.313
Aug 31, 202695.57895.56395.594
Aug 28, 202695.87595.84495.688
Aug 27, 202696.26696.25096.125
Aug 26, 202696.26696.25096.219
Aug 25, 202696.32896.31396.406
Aug 24, 202696.10996.09496.000
Aug 21, 202695.85995.84495.844
Aug 20, 202696.06396.03196.094
Aug 19, 202696.28196.25096.344
Aug 18, 202696.07896.06396.063
Aug 17, 202696.10996.09496.000
Aug 14, 202696.23496.21996.156
Aug 13, 202696.42296.40696.438
Aug 12, 202696.20396.18896.125

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.

3 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 91282CHT1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 9, 2023Aug 15, 2023New issue$38.0bn$52.2bn2.56x3.999%
Sep 12, 2023Sep 15, 2023Reopening$35.0bn$35.0bn2.52x4.289%
Oct 11, 2023Oct 16, 2023Reopening$35.0bn$35.0bn2.50x4.610%

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.