Treasury note

91282CJF9 · 4.875% due October 31, 2028

Original term
5-Year
Maturity
Oct 31, 2028
Coupon
4.875%
Pays
Semi-Annual
Dated
Oct 31, 2023
First coupon
Apr 30, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$51.84bn
Held stripped
$67.2m
Share stripped
0.13%

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
4.454%
Modified duration
1.979 yr
DV01
0.0203
Convexity
5.039
Dirty price
102.606

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 5 of twelve buckets, summing to 2.024 years against a modified duration of 1.979.

Against the fitted curve

Priced 0.5 bp rich to the curve on that day, 0.93 cents per 100 of face.

That is -0.14 standard deviations from its own typical residual.

Yield to maturity, 716 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Oct 31, 2023Sep 9, 2026Oct 31, 2023Yield to maturity4.818%Nov 3, 2023Yield to maturity4.486%Nov 8, 2023Yield to maturity4.513%Nov 13, 2023Yield to maturity4.661%Nov 16, 2023Yield to maturity4.434%Nov 21, 2023Yield to maturity4.412%Nov 27, 2023Yield to maturity4.411%Nov 30, 2023Yield to maturity4.332%Dec 5, 2023Yield to maturity4.170%Dec 8, 2023Yield to maturity4.266%Dec 13, 2023Yield to maturity4.027%Dec 18, 2023Yield to maturity3.969%Dec 21, 2023Yield to maturity3.905%Dec 27, 2023Yield to maturity3.811%Jan 2, 2024Yield to maturity3.948%Jan 5, 2024Yield to maturity4.037%Jan 10, 2024Yield to maturity4.000%Jan 16, 2024Yield to maturity3.955%Jan 19, 2024Yield to maturity4.081%Jan 24, 2024Yield to maturity4.101%Jan 29, 2024Yield to maturity3.992%Feb 1, 2024Yield to maturity3.820%Feb 6, 2024Yield to maturity4.060%Feb 9, 2024Yield to maturity4.166%Feb 14, 2024Yield to maturity4.274%Feb 20, 2024Yield to maturity4.280%Feb 23, 2024Yield to maturity4.315%Feb 28, 2024Yield to maturity4.306%Mar 4, 2024Yield to maturity4.253%Mar 7, 2024Yield to maturity4.120%Mar 12, 2024Yield to maturity4.199%Mar 15, 2024Yield to maturity4.368%Mar 20, 2024Yield to maturity4.293%Mar 25, 2024Yield to maturity4.277%Mar 28, 2024Yield to maturity4.261%Apr 2, 2024Yield to maturity4.394%Apr 5, 2024Yield to maturity4.423%Apr 10, 2024Yield to maturity4.659%Apr 15, 2024Yield to maturity4.689%Apr 18, 2024Yield to maturity4.720%Apr 23, 2024Yield to maturity4.665%Apr 26, 2024Yield to maturity4.735%May 1, 2024Yield to maturity4.688%May 6, 2024Yield to maturity4.525%May 9, 2024Yield to maturity4.508%May 14, 2024Yield to maturity4.499%May 17, 2024Yield to maturity4.483%May 22, 2024Yield to maturity4.513%May 28, 2024Yield to maturity4.621%May 31, 2024Yield to maturity4.566%Jun 5, 2024Yield to maturity4.362%Jun 10, 2024Yield to maturity4.532%Jun 13, 2024Yield to maturity4.289%Jun 18, 2024Yield to maturity4.295%Jun 24, 2024Yield to maturity4.332%Jun 27, 2024Yield to maturity4.355%Jul 2, 2024Yield to maturity4.432%Jul 8, 2024Yield to maturity4.272%Jul 11, 2024Yield to maturity4.169%Jul 16, 2024Yield to maturity4.119%Jul 19, 2024Yield to maturity4.196%Jul 24, 2024Yield to maturity4.179%Jul 29, 2024Yield to maturity4.098%Aug 1, 2024Yield to maturity3.883%Aug 6, 2024Yield to maturity3.761%Aug 9, 2024Yield to maturity3.829%Aug 14, 2024Yield to maturity3.701%Aug 19, 2024Yield to maturity3.793%Aug 22, 2024Yield to maturity3.759%Aug 27, 2024Yield to maturity3.692%Aug 30, 2024Yield to maturity3.752%Sep 5, 2024Yield to maturity3.575%Sep 10, 2024Yield to maturity3.452%Sep 13, 2024Yield to maturity3.448%Sep 18, 2024Yield to maturity3.493%Sep 23, 2024Yield to maturity3.513%Sep 26, 2024Yield to maturity3.567%Oct 1, 2024Yield to maturity3.531%Oct 4, 2024Yield to maturity3.836%Oct 9, 2024Yield to maturity3.924%Oct 15, 2024Yield to maturity3.880%Oct 18, 2024Yield to maturity3.893%Oct 23, 2024Yield to maturity4.067%Oct 28, 2024Yield to maturity4.123%Oct 31, 2024Yield to maturity4.172%Nov 5, 2024Yield to maturity4.187%Nov 8, 2024Yield to maturity4.227%Nov 14, 2024Yield to maturity4.337%Nov 19, 2024Yield to maturity4.266%Nov 22, 2024Yield to maturity4.324%Nov 27, 2024Yield to maturity4.167%Dec 3, 2024Yield to maturity4.156%Dec 6, 2024Yield to maturity4.068%Dec 11, 2024Yield to maturity4.161%Dec 16, 2024Yield to maturity4.263%Dec 19, 2024Yield to maturity4.411%Dec 24, 2024Yield to maturity4.427%Dec 30, 2024Yield to maturity4.355%Jan 3, 2025Yield to maturity4.388%Jan 8, 2025Yield to maturity4.405%Jan 13, 2025Yield to maturity4.574%Jan 16, 2025Yield to maturity4.357%Jan 22, 2025Yield to maturity4.400%Jan 27, 2025Yield to maturity4.300%Jan 30, 2025Yield to maturity4.280%Feb 4, 2025Yield to maturity4.297%Feb 7, 2025Yield to maturity4.331%Feb 12, 2025Yield to maturity4.448%Feb 18, 2025Yield to maturity4.373%Feb 21, 2025Yield to maturity4.234%Feb 26, 2025Yield to maturity4.069%Mar 3, 2025Yield to maturity3.966%Mar 6, 2025Yield to maturity4.028%Mar 11, 2025Yield to maturity3.988%Mar 14, 2025Yield to maturity4.050%Mar 19, 2025Yield to maturity4.002%Mar 24, 2025Yield to maturity4.054%Mar 27, 2025Yield to maturity4.043%Apr 1, 2025Yield to maturity3.883%Apr 4, 2025Yield to maturity3.694%Apr 9, 2025Yield to maturity3.999%Apr 14, 2025Yield to maturity3.939%Apr 17, 2025Yield to maturity3.872%Apr 22, 2025Yield to maturity3.878%Apr 25, 2025Yield to maturity3.809%Apr 30, 2025Yield to maturity3.637%May 5, 2025Yield to maturity3.859%May 8, 2025Yield to maturity3.933%May 13, 2025Yield to maturity4.054%May 16, 2025Yield to maturity3.993%May 21, 2025Yield to maturity4.049%May 27, 2025Yield to maturity3.958%May 30, 2025Yield to maturity3.906%Jun 4, 2025Yield to maturity3.865%Jun 9, 2025Yield to maturity4.017%Jun 12, 2025Yield to maturity3.898%Jun 17, 2025Yield to maturity3.933%Jun 23, 2025Yield to maturity3.831%Jun 26, 2025Yield to maturity3.720%Jul 1, 2025Yield to maturity3.775%Jul 7, 2025Yield to maturity3.889%Jul 10, 2025Yield to maturity3.857%Jul 15, 2025Yield to maturity3.953%Jul 18, 2025Yield to maturity3.859%Jul 23, 2025Yield to maturity3.857%Jul 28, 2025Yield to maturity3.893%Jul 31, 2025Yield to maturity3.901%Aug 5, 2025Yield to maturity3.694%Aug 8, 2025Yield to maturity3.751%Aug 13, 2025Yield to maturity3.677%Aug 18, 2025Yield to maturity3.754%Aug 21, 2025Yield to maturity3.762%Aug 26, 2025Yield to maturity3.644%Aug 29, 2025Yield to maturity3.597%Sep 4, 2025Yield to maturity3.563%Sep 9, 2025Yield to maturity3.516%Sep 12, 2025Yield to maturity3.553%Sep 17, 2025Yield to maturity3.529%Sep 22, 2025Yield to maturity3.607%Sep 25, 2025Yield to maturity3.678%Sep 30, 2025Yield to maturity3.631%Oct 3, 2025Yield to maturity3.605%Oct 8, 2025Yield to maturity3.612%Oct 14, 2025Yield to maturity3.489%Oct 17, 2025Yield to maturity3.483%Oct 22, 2025Yield to maturity3.458%Oct 27, 2025Yield to maturity3.517%Oct 30, 2025Yield to maturity3.622%Nov 4, 2025Yield to maturity3.595%Nov 7, 2025Yield to maturity3.567%Nov 13, 2025Yield to maturity3.606%Nov 18, 2025Yield to maturity3.590%Nov 21, 2025Yield to maturity3.507%Nov 26, 2025Yield to maturity3.479%Dec 2, 2025Yield to maturity3.540%Dec 5, 2025Yield to maturity3.590%Dec 10, 2025Yield to maturity3.586%Dec 15, 2025Yield to maturity3.558%Dec 18, 2025Yield to maturity3.509%Dec 23, 2025Yield to maturity3.583%Dec 29, 2025Yield to maturity3.518%Jan 2, 2026Yield to maturity3.545%Jan 7, 2026Yield to maturity3.518%Jan 12, 2026Yield to maturity3.593%Jan 15, 2026Yield to maturity3.613%Jan 21, 2026Yield to maturity3.653%Jan 26, 2026Yield to maturity3.647%Jan 29, 2026Yield to maturity3.608%Feb 3, 2026Yield to maturity3.638%Feb 6, 2026Yield to maturity3.561%Feb 11, 2026Yield to maturity3.557%Feb 17, 2026Yield to maturity3.465%Feb 20, 2026Yield to maturity3.495%Feb 25, 2026Yield to maturity3.491%Mar 2, 2026Yield to maturity3.496%Mar 5, 2026Yield to maturity3.590%Mar 10, 2026Yield to maturity3.596%Mar 13, 2026Yield to maturity3.751%Mar 18, 2026Yield to maturity3.772%Mar 23, 2026Yield to maturity3.855%Mar 26, 2026Yield to maturity4.015%Mar 31, 2026Yield to maturity3.809%Apr 3, 2026Yield to maturity3.880%Apr 8, 2026Yield to maturity3.813%Apr 13, 2026Yield to maturity3.795%Apr 16, 2026Yield to maturity3.792%Apr 21, 2026Yield to maturity3.800%Apr 24, 2026Yield to maturity3.794%Apr 29, 2026Yield to maturity3.948%May 4, 2026Yield to maturity3.982%May 7, 2026Yield to maturity3.939%May 12, 2026Yield to maturity4.027%May 15, 2026Yield to maturity4.130%May 20, 2026Yield to maturity4.087%May 26, 2026Yield to maturity4.095%May 29, 2026Yield to maturity4.050%Jun 3, 2026Yield to maturity4.115%Jun 8, 2026Yield to maturity4.207%Jun 11, 2026Yield to maturity4.095%Jun 16, 2026Yield to maturity4.090%Jun 22, 2026Yield to maturity4.266%Jun 25, 2026Yield to maturity4.138%Jun 30, 2026Yield to maturity4.162%Jul 6, 2026Yield to maturity4.143%Jul 9, 2026Yield to maturity4.198%Jul 14, 2026Yield to maturity4.222%Jul 17, 2026Yield to maturity4.204%Jul 22, 2026Yield to maturity4.332%Jul 27, 2026Yield to maturity4.358%Jul 30, 2026Yield to maturity4.269%Aug 4, 2026Yield to maturity4.236%Aug 7, 2026Yield to maturity4.217%Aug 12, 2026Yield to maturity4.230%Aug 17, 2026Yield to maturity4.211%Aug 20, 2026Yield to maturity4.209%Aug 25, 2026Yield to maturity4.220%Aug 28, 2026Yield to maturity4.368%Sep 2, 2026Yield to maturity4.412%Sep 8, 2026Yield to maturity4.424%Sep 9, 2026Yield to maturity4.454%

Price history

716 trading days to Sep 9, 2026

100101102103104105106Oct 31, 2023Sep 9, 2026Oct 31, 2023Close100.250Nov 3, 2023Close101.719Nov 8, 2023Close101.594Nov 13, 2023Close100.938Nov 16, 2023Close101.938Nov 21, 2023Close102.031Nov 27, 2023Close102.031Nov 30, 2023Close102.375Dec 5, 2023Close103.094Dec 8, 2023Close102.656Dec 13, 2023Close103.719Dec 18, 2023Close103.969Dec 21, 2023Close104.250Dec 27, 2023Close104.656Jan 2, 2024Close104.031Jan 5, 2024Close103.625Jan 10, 2024Close103.781Jan 16, 2024Close103.969Jan 19, 2024Close103.406Jan 24, 2024Close103.313Jan 29, 2024Close103.781Feb 1, 2024Close104.531Feb 6, 2024Close103.469Feb 9, 2024Close103.000Feb 14, 2024Close102.531Feb 20, 2024Close102.500Feb 23, 2024Close102.344Feb 28, 2024Close102.375Mar 4, 2024Close102.594Mar 7, 2024Close103.156Mar 12, 2024Close102.813Mar 15, 2024Close102.094Mar 20, 2024Close102.406Mar 25, 2024Close102.469Mar 28, 2024Close102.531Apr 2, 2024Close101.969Apr 5, 2024Close101.844Apr 10, 2024Close100.875Apr 15, 2024Close100.750Apr 18, 2024Close100.625Apr 23, 2024Close100.844Apr 26, 2024Close100.563May 1, 2024Close100.750May 6, 2024Close101.406May 9, 2024Close101.469May 14, 2024Close101.500May 17, 2024Close101.563May 22, 2024Close101.438May 28, 2024Close101.000May 31, 2024Close101.219Jun 5, 2024Close102.031Jun 10, 2024Close101.344Jun 13, 2024Close102.313Jun 18, 2024Close102.281Jun 24, 2024Close102.125Jun 27, 2024Close102.031Jul 2, 2024Close101.719Jul 8, 2024Close102.344Jul 11, 2024Close102.750Jul 16, 2024Close102.938Jul 19, 2024Close102.625Jul 24, 2024Close102.688Jul 29, 2024Close103.000Aug 1, 2024Close103.844Aug 6, 2024Close104.313Aug 9, 2024Close104.031Aug 14, 2024Close104.531Aug 19, 2024Close104.156Aug 22, 2024Close104.281Aug 27, 2024Close104.531Aug 30, 2024Close104.281Sep 5, 2024Close104.969Sep 10, 2024Close105.438Sep 13, 2024Close105.438Sep 18, 2024Close105.250Sep 23, 2024Close105.156Sep 26, 2024Close104.938Oct 1, 2024Close105.063Oct 4, 2024Close103.875Oct 9, 2024Close103.531Oct 15, 2024Close103.688Oct 18, 2024Close103.625Oct 23, 2024Close102.969Oct 28, 2024Close102.750Oct 31, 2024Close102.563Nov 5, 2024Close102.500Nov 8, 2024Close102.344Nov 14, 2024Close101.938Nov 19, 2024Close102.188Nov 22, 2024Close101.969Nov 27, 2024Close102.531Dec 3, 2024Close102.563Dec 6, 2024Close102.875Dec 11, 2024Close102.531Dec 16, 2024Close102.156Dec 19, 2024Close101.625Dec 24, 2024Close101.563Dec 30, 2024Close101.813Jan 3, 2025Close101.688Jan 8, 2025Close101.625Jan 13, 2025Close101.031Jan 16, 2025Close101.781Jan 22, 2025Close101.625Jan 27, 2025Close101.969Jan 30, 2025Close102.031Feb 4, 2025Close101.969Feb 7, 2025Close101.844Feb 12, 2025Close101.438Feb 18, 2025Close101.688Feb 21, 2025Close102.156Feb 26, 2025Close102.719Mar 3, 2025Close103.063Mar 6, 2025Close102.844Mar 11, 2025Close102.969Mar 14, 2025Close102.750Mar 19, 2025Close102.906Mar 24, 2025Close102.719Mar 27, 2025Close102.750Apr 1, 2025Close103.281Apr 4, 2025Close103.906Apr 9, 2025Close102.875Apr 14, 2025Close103.063Apr 17, 2025Close103.281Apr 22, 2025Close103.250Apr 25, 2025Close103.469Apr 30, 2025Close104.031May 5, 2025Close103.281May 8, 2025Close103.031May 13, 2025Close102.625May 16, 2025Close102.813May 21, 2025Close102.625May 27, 2025Close102.906May 30, 2025Close103.063Jun 4, 2025Close103.188Jun 9, 2025Close102.688Jun 12, 2025Close103.063Jun 17, 2025Close102.938Jun 23, 2025Close103.250Jun 26, 2025Close103.594Jul 1, 2025Close103.406Jul 7, 2025Close103.031Jul 10, 2025Close103.125Jul 15, 2025Close102.813Jul 18, 2025Close103.094Jul 23, 2025Close103.094Jul 28, 2025Close102.969Jul 31, 2025Close102.938Aug 5, 2025Close103.563Aug 8, 2025Close103.375Aug 13, 2025Close103.594Aug 18, 2025Close103.344Aug 21, 2025Close103.313Aug 26, 2025Close103.656Aug 29, 2025Close103.781Sep 4, 2025Close103.875Sep 9, 2025Close104.000Sep 12, 2025Close103.875Sep 17, 2025Close103.938Sep 22, 2025Close103.688Sep 25, 2025Close103.469Sep 30, 2025Close103.594Oct 3, 2025Close103.656Oct 8, 2025Close103.625Oct 14, 2025Close103.969Oct 17, 2025Close103.969Oct 22, 2025Close104.031Oct 27, 2025Close103.844Oct 30, 2025Close103.531Nov 4, 2025Close103.594Nov 7, 2025Close103.656Nov 13, 2025Close103.531Nov 18, 2025Close103.563Nov 21, 2025Close103.781Nov 26, 2025Close103.844Dec 2, 2025Close103.656Dec 5, 2025Close103.500Dec 10, 2025Close103.500Dec 15, 2025Close103.563Dec 18, 2025Close103.688Dec 23, 2025Close103.469Dec 29, 2025Close103.625Jan 2, 2026Close103.531Jan 7, 2026Close103.594Jan 12, 2026Close103.375Jan 15, 2026Close103.313Jan 21, 2026Close103.188Jan 26, 2026Close103.188Jan 29, 2026Close103.281Feb 3, 2026Close103.188Feb 6, 2026Close103.375Feb 11, 2026Close103.375Feb 17, 2026Close103.594Feb 20, 2026Close103.500Feb 25, 2026Close103.500Mar 2, 2026Close103.469Mar 5, 2026Close103.219Mar 10, 2026Close103.188Mar 13, 2026Close102.781Mar 18, 2026Close102.719Mar 23, 2026Close102.500Mar 26, 2026Close102.094Mar 31, 2026Close102.594Apr 3, 2026Close102.406Apr 8, 2026Close102.563Apr 13, 2026Close102.594Apr 16, 2026Close102.594Apr 21, 2026Close102.563Apr 24, 2026Close102.563Apr 29, 2026Close102.188May 4, 2026Close102.094May 7, 2026Close102.188May 12, 2026Close101.969May 15, 2026Close101.719May 20, 2026Close101.813May 26, 2026Close101.781May 29, 2026Close101.875Jun 3, 2026Close101.719Jun 8, 2026Close101.500Jun 11, 2026Close101.750Jun 16, 2026Close101.750Jun 22, 2026Close101.344Jun 25, 2026Close101.625Jun 30, 2026Close101.563Jul 6, 2026Close101.594Jul 9, 2026Close101.469Jul 14, 2026Close101.406Jul 17, 2026Close101.438Jul 22, 2026Close101.156Jul 27, 2026Close101.094Jul 30, 2026Close101.281Aug 4, 2026Close101.344Aug 7, 2026Close101.375Aug 12, 2026Close101.344Aug 17, 2026Close101.375Aug 20, 2026Close101.375Aug 25, 2026Close101.344Aug 28, 2026Close101.031Sep 2, 2026Close100.938Sep 8, 2026Close100.906Sep 9, 2026Close100.844
The most recent 20 trading days of prices for 91282CJF9.
DateBidOfferClose
Sep 9, 2026100.859100.844100.844
Sep 8, 2026100.953100.938100.906
Sep 4, 2026100.984100.969100.969
Sep 3, 2026101.078101.063101.031
Sep 2, 2026100.953100.938100.938
Sep 1, 2026100.984100.969100.938
Aug 31, 2026101.078101.063101.031
Aug 28, 2026101.094101.063101.031
Aug 27, 2026101.328101.313101.281
Aug 26, 2026101.328101.313101.281
Aug 25, 2026101.359101.344101.344
Aug 24, 2026101.297101.281101.250
Aug 21, 2026101.266101.250101.250
Aug 20, 2026101.359101.344101.375
Aug 19, 2026101.375101.375101.406
Aug 18, 2026101.391101.375101.375
Aug 17, 2026101.422101.406101.375
Aug 14, 2026101.453101.438101.406
Aug 13, 2026101.469101.469101.469
Aug 12, 2026101.391101.375101.344

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 91282CJF9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 25, 2023Oct 31, 2023New issue$52.0bn$52.0bn2.36x4.899%

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.