Treasury note

91282CJJ1 · 4.5% due November 15, 2033

Original term
10-Year
Maturity
Nov 15, 2033
Coupon
4.500%
Pays
Semi-Annual
Dated
Nov 15, 2023
First coupon
May 15, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$114.68bn
Held stripped
$17.2m
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
4.732%
Modified duration
5.977 yr
DV01
0.0598
Convexity
42.592
Dirty price
100.037

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 8 of twelve buckets, summing to 6.116 years against a modified duration of 5.977.

Against the fitted curve

Priced 3.4 bp cheap to the curve on that day, 20.34 cents per 100 of face.

That is 1.35 standard deviations from its own typical residual.

Yield to maturity, 705 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%Nov 15, 2023Sep 9, 2026Nov 15, 2023Yield to maturity4.527%Nov 20, 2023Yield to maturity4.418%Nov 24, 2023Yield to maturity4.468%Nov 29, 2023Yield to maturity4.267%Dec 4, 2023Yield to maturity4.282%Dec 7, 2023Yield to maturity4.136%Dec 12, 2023Yield to maturity4.204%Dec 15, 2023Yield to maturity3.909%Dec 20, 2023Yield to maturity3.860%Dec 26, 2023Yield to maturity3.893%Dec 29, 2023Yield to maturity3.881%Jan 4, 2024Yield to maturity3.989%Jan 9, 2024Yield to maturity4.015%Jan 12, 2024Yield to maturity3.958%Jan 18, 2024Yield to maturity4.136%Jan 23, 2024Yield to maturity4.140%Jan 26, 2024Yield to maturity4.147%Jan 31, 2024Yield to maturity3.982%Feb 5, 2024Yield to maturity4.166%Feb 8, 2024Yield to maturity4.173%Feb 13, 2024Yield to maturity4.325%Feb 16, 2024Yield to maturity4.313%Feb 22, 2024Yield to maturity4.348%Feb 27, 2024Yield to maturity4.328%Mar 1, 2024Yield to maturity4.203%Mar 6, 2024Yield to maturity4.121%Mar 11, 2024Yield to maturity4.109%Mar 14, 2024Yield to maturity4.304%Mar 19, 2024Yield to maturity4.308%Mar 22, 2024Yield to maturity4.229%Mar 27, 2024Yield to maturity4.201%Apr 1, 2024Yield to maturity4.335%Apr 4, 2024Yield to maturity4.319%Apr 9, 2024Yield to maturity4.371%Apr 12, 2024Yield to maturity4.516%Apr 17, 2024Yield to maturity4.597%Apr 22, 2024Yield to maturity4.626%Apr 25, 2024Yield to maturity4.713%Apr 30, 2024Yield to maturity4.697%May 3, 2024Yield to maturity4.504%May 8, 2024Yield to maturity4.500%May 13, 2024Yield to maturity4.500%May 16, 2024Yield to maturity4.390%May 21, 2024Yield to maturity4.423%May 24, 2024Yield to maturity4.475%May 30, 2024Yield to maturity4.561%Jun 4, 2024Yield to maturity4.341%Jun 7, 2024Yield to maturity4.442%Jun 12, 2024Yield to maturity4.324%Jun 17, 2024Yield to maturity4.288%Jun 21, 2024Yield to maturity4.259%Jun 26, 2024Yield to maturity4.328%Jul 1, 2024Yield to maturity4.487%Jul 5, 2024Yield to maturity4.279%Jul 10, 2024Yield to maturity4.282%Jul 15, 2024Yield to maturity4.230%Jul 18, 2024Yield to maturity4.197%Jul 23, 2024Yield to maturity4.241%Jul 26, 2024Yield to maturity4.188%Jul 31, 2024Yield to maturity4.079%Aug 5, 2024Yield to maturity3.767%Aug 8, 2024Yield to maturity3.999%Aug 13, 2024Yield to maturity3.844%Aug 16, 2024Yield to maturity3.894%Aug 21, 2024Yield to maturity3.788%Aug 26, 2024Yield to maturity3.810%Aug 29, 2024Yield to maturity3.861%Sep 4, 2024Yield to maturity3.750%Sep 9, 2024Yield to maturity3.679%Sep 12, 2024Yield to maturity3.659%Sep 17, 2024Yield to maturity3.623%Sep 20, 2024Yield to maturity3.700%Sep 25, 2024Yield to maturity3.758%Sep 30, 2024Yield to maturity3.785%Oct 3, 2024Yield to maturity3.824%Oct 8, 2024Yield to maturity4.020%Oct 11, 2024Yield to maturity4.064%Oct 17, 2024Yield to maturity4.068%Oct 22, 2024Yield to maturity4.182%Oct 25, 2024Yield to maturity4.227%Oct 30, 2024Yield to maturity4.269%Nov 4, 2024Yield to maturity4.302%Nov 7, 2024Yield to maturity4.318%Nov 13, 2024Yield to maturity4.445%Nov 18, 2024Yield to maturity4.415%Nov 21, 2024Yield to maturity4.423%Nov 26, 2024Yield to maturity4.301%Dec 2, 2024Yield to maturity4.183%Dec 5, 2024Yield to maturity4.170%Dec 10, 2024Yield to maturity4.212%Dec 13, 2024Yield to maturity4.388%Dec 18, 2024Yield to maturity4.491%Dec 23, 2024Yield to maturity4.577%Dec 27, 2024Yield to maturity4.608%Jan 2, 2025Yield to maturity4.547%Jan 7, 2025Yield to maturity4.656%Jan 10, 2025Yield to maturity4.757%Jan 15, 2025Yield to maturity4.630%Jan 21, 2025Yield to maturity4.547%Jan 24, 2025Yield to maturity4.599%Jan 29, 2025Yield to maturity4.521%Feb 3, 2025Yield to maturity4.512%Feb 6, 2025Yield to maturity4.417%Feb 11, 2025Yield to maturity4.508%Feb 14, 2025Yield to maturity4.456%Feb 20, 2025Yield to maturity4.477%Feb 25, 2025Yield to maturity4.270%Feb 28, 2025Yield to maturity4.205%Mar 5, 2025Yield to maturity4.248%Mar 10, 2025Yield to maturity4.183%Mar 13, 2025Yield to maturity4.234%Mar 18, 2025Yield to maturity4.247%Mar 21, 2025Yield to maturity4.204%Mar 26, 2025Yield to maturity4.294%Mar 31, 2025Yield to maturity4.173%Apr 3, 2025Yield to maturity3.989%Apr 8, 2025Yield to maturity4.185%Apr 11, 2025Yield to maturity4.429%Apr 16, 2025Yield to maturity4.206%Apr 21, 2025Yield to maturity4.332%Apr 24, 2025Yield to maturity4.240%Apr 29, 2025Yield to maturity4.093%May 2, 2025Yield to maturity4.236%May 7, 2025Yield to maturity4.179%May 12, 2025Yield to maturity4.376%May 15, 2025Yield to maturity4.367%May 20, 2025Yield to maturity4.389%May 23, 2025Yield to maturity4.415%May 29, 2025Yield to maturity4.326%Jun 3, 2025Yield to maturity4.357%Jun 6, 2025Yield to maturity4.419%Jun 11, 2025Yield to maturity4.317%Jun 16, 2025Yield to maturity4.352%Jun 20, 2025Yield to maturity4.267%Jun 25, 2025Yield to maturity4.165%Jun 30, 2025Yield to maturity4.108%Jul 3, 2025Yield to maturity4.239%Jul 9, 2025Yield to maturity4.221%Jul 14, 2025Yield to maturity4.306%Jul 17, 2025Yield to maturity4.341%Jul 22, 2025Yield to maturity4.212%Jul 25, 2025Yield to maturity4.265%Jul 30, 2025Yield to maturity4.251%Aug 4, 2025Yield to maturity4.069%Aug 7, 2025Yield to maturity4.104%Aug 12, 2025Yield to maturity4.143%Aug 15, 2025Yield to maturity4.174%Aug 20, 2025Yield to maturity4.129%Aug 25, 2025Yield to maturity4.119%Aug 28, 2025Yield to maturity4.039%Sep 3, 2025Yield to maturity4.039%Sep 8, 2025Yield to maturity3.883%Sep 11, 2025Yield to maturity3.852%Sep 16, 2025Yield to maturity3.869%Sep 19, 2025Yield to maturity3.974%Sep 24, 2025Yield to maturity3.991%Sep 29, 2025Yield to maturity4.000%Oct 2, 2025Yield to maturity3.941%Oct 7, 2025Yield to maturity3.985%Oct 10, 2025Yield to maturity3.913%Oct 16, 2025Yield to maturity3.824%Oct 21, 2025Yield to maturity3.814%Oct 24, 2025Yield to maturity3.858%Oct 29, 2025Yield to maturity3.938%Nov 3, 2025Yield to maturity3.973%Nov 6, 2025Yield to maturity3.950%Nov 12, 2025Yield to maturity3.927%Nov 17, 2025Yield to maturity3.975%Nov 20, 2025Yield to maturity3.939%Nov 25, 2025Yield to maturity3.839%Dec 1, 2025Yield to maturity3.928%Dec 4, 2025Yield to maturity3.941%Dec 9, 2025Yield to maturity4.022%Dec 12, 2025Yield to maturity4.025%Dec 17, 2025Yield to maturity3.979%Dec 22, 2025Yield to maturity3.997%Dec 26, 2025Yield to maturity3.968%Dec 31, 2025Yield to maturity4.004%Jan 6, 2026Yield to maturity4.004%Jan 9, 2026Yield to maturity4.012%Jan 14, 2026Yield to maturity3.979%Jan 20, 2026Yield to maturity4.136%Jan 23, 2026Yield to maturity4.089%Jan 28, 2026Yield to maturity4.102%Feb 2, 2026Yield to maturity4.116%Feb 5, 2026Yield to maturity4.036%Feb 10, 2026Yield to maturity3.980%Feb 13, 2026Yield to maturity3.873%Feb 19, 2026Yield to maturity3.904%Feb 24, 2026Yield to maturity3.866%Feb 27, 2026Yield to maturity3.783%Mar 4, 2026Yield to maturity3.921%Mar 9, 2026Yield to maturity3.952%Mar 12, 2026Yield to maturity4.116%Mar 17, 2026Yield to maturity4.031%Mar 20, 2026Yield to maturity4.248%Mar 25, 2026Yield to maturity4.191%Mar 30, 2026Yield to maturity4.200%Apr 2, 2026Yield to maturity4.166%Apr 7, 2026Yield to maturity4.175%Apr 10, 2026Yield to maturity4.165%Apr 15, 2026Yield to maturity4.127%Apr 20, 2026Yield to maturity4.088%Apr 23, 2026Yield to maturity4.179%Apr 28, 2026Yield to maturity4.202%May 1, 2026Yield to maturity4.236%May 6, 2026Yield to maturity4.206%May 11, 2026Yield to maturity4.269%May 14, 2026Yield to maturity4.328%May 19, 2026Yield to maturity4.530%May 22, 2026Yield to maturity4.435%May 28, 2026Yield to maturity4.327%Jun 2, 2026Yield to maturity4.336%Jun 5, 2026Yield to maturity4.440%Jun 10, 2026Yield to maturity4.430%Jun 15, 2026Yield to maturity4.345%Jun 18, 2026Yield to maturity4.360%Jun 24, 2026Yield to maturity4.310%Jun 29, 2026Yield to maturity4.270%Jul 2, 2026Yield to maturity4.374%Jul 8, 2026Yield to maturity4.454%Jul 13, 2026Yield to maturity4.504%Jul 16, 2026Yield to maturity4.434%Jul 21, 2026Yield to maturity4.514%Jul 24, 2026Yield to maturity4.565%Jul 29, 2026Yield to maturity4.535%Aug 3, 2026Yield to maturity4.555%Aug 6, 2026Yield to maturity4.550%Aug 11, 2026Yield to maturity4.560%Aug 14, 2026Yield to maturity4.535%Aug 19, 2026Yield to maturity4.499%Aug 24, 2026Yield to maturity4.560%Aug 27, 2026Yield to maturity4.540%Sep 1, 2026Yield to maturity4.685%Sep 4, 2026Yield to maturity4.670%Sep 9, 2026Yield to maturity4.732%

Price history

705 trading days to Sep 9, 2026

98100102104106108Nov 15, 2023Sep 9, 2026Nov 15, 2023Close99.781Nov 20, 2023Close100.656Nov 24, 2023Close100.250Nov 29, 2023Close101.875Dec 4, 2023Close101.750Dec 7, 2023Close102.938Dec 12, 2023Close102.375Dec 15, 2023Close104.813Dec 20, 2023Close105.219Dec 26, 2023Close104.938Dec 29, 2023Close105.031Jan 4, 2024Close104.125Jan 9, 2024Close103.906Jan 12, 2024Close104.375Jan 18, 2024Close102.906Jan 23, 2024Close102.875Jan 26, 2024Close102.813Jan 31, 2024Close104.156Feb 5, 2024Close102.656Feb 8, 2024Close102.594Feb 13, 2024Close101.375Feb 16, 2024Close101.469Feb 22, 2024Close101.188Feb 27, 2024Close101.344Mar 1, 2024Close102.344Mar 6, 2024Close103.000Mar 11, 2024Close103.094Mar 14, 2024Close101.531Mar 19, 2024Close101.500Mar 22, 2024Close102.125Mar 27, 2024Close102.344Apr 1, 2024Close101.281Apr 4, 2024Close101.406Apr 9, 2024Close101.000Apr 12, 2024Close99.875Apr 17, 2024Close99.250Apr 22, 2024Close99.031Apr 25, 2024Close98.375Apr 30, 2024Close98.500May 3, 2024Close99.969May 8, 2024Close100.000May 13, 2024Close100.000May 16, 2024Close100.844May 21, 2024Close100.594May 24, 2024Close100.188May 30, 2024Close99.531Jun 4, 2024Close101.219Jun 7, 2024Close100.438Jun 12, 2024Close101.344Jun 17, 2024Close101.625Jun 21, 2024Close101.844Jun 26, 2024Close101.313Jul 1, 2024Close100.094Jul 5, 2024Close101.688Jul 10, 2024Close101.656Jul 15, 2024Close102.063Jul 18, 2024Close102.313Jul 23, 2024Close101.969Jul 26, 2024Close102.375Jul 31, 2024Close103.219Aug 5, 2024Close105.688Aug 8, 2024Close103.844Aug 13, 2024Close105.063Aug 16, 2024Close104.656Aug 21, 2024Close105.500Aug 26, 2024Close105.313Aug 29, 2024Close104.906Sep 4, 2024Close105.781Sep 9, 2024Close106.344Sep 12, 2024Close106.500Sep 17, 2024Close106.781Sep 20, 2024Close106.156Sep 25, 2024Close105.688Sep 30, 2024Close105.469Oct 3, 2024Close105.156Oct 8, 2024Close103.625Oct 11, 2024Close103.281Oct 17, 2024Close103.250Oct 22, 2024Close102.375Oct 25, 2024Close102.031Oct 30, 2024Close101.719Nov 4, 2024Close101.469Nov 7, 2024Close101.344Nov 13, 2024Close100.406Nov 18, 2024Close100.625Nov 21, 2024Close100.563Nov 26, 2024Close101.469Dec 2, 2024Close102.344Dec 5, 2024Close102.438Dec 10, 2024Close102.125Dec 13, 2024Close100.813Dec 18, 2024Close100.063Dec 23, 2024Close99.438Dec 27, 2024Close99.219Jan 2, 2025Close99.656Jan 7, 2025Close98.875Jan 10, 2025Close98.156Jan 15, 2025Close99.063Jan 21, 2025Close99.656Jan 24, 2025Close99.281Jan 29, 2025Close99.844Feb 3, 2025Close99.906Feb 6, 2025Close100.594Feb 11, 2025Close99.938Feb 14, 2025Close100.313Feb 20, 2025Close100.156Feb 25, 2025Close101.656Feb 28, 2025Close102.125Mar 5, 2025Close101.813Mar 10, 2025Close102.281Mar 13, 2025Close101.906Mar 18, 2025Close101.813Mar 21, 2025Close102.125Mar 26, 2025Close101.469Mar 31, 2025Close102.344Apr 3, 2025Close103.688Apr 8, 2025Close102.250Apr 11, 2025Close100.500Apr 16, 2025Close102.094Apr 21, 2025Close101.188Apr 24, 2025Close101.844Apr 29, 2025Close102.906May 2, 2025Close101.875May 7, 2025Close102.281May 12, 2025Close100.875May 15, 2025Close100.938May 20, 2025Close100.781May 23, 2025Close100.594May 29, 2025Close101.219Jun 3, 2025Close101.000Jun 6, 2025Close100.563Jun 11, 2025Close101.281Jun 16, 2025Close101.031Jun 20, 2025Close101.625Jun 25, 2025Close102.344Jun 30, 2025Close102.750Jul 3, 2025Close101.813Jul 9, 2025Close101.938Jul 14, 2025Close101.344Jul 17, 2025Close101.094Jul 22, 2025Close102.000Jul 25, 2025Close101.625Jul 30, 2025Close101.719Aug 4, 2025Close103.000Aug 7, 2025Close102.750Aug 12, 2025Close102.469Aug 15, 2025Close102.250Aug 20, 2025Close102.563Aug 25, 2025Close102.625Aug 28, 2025Close103.188Sep 3, 2025Close103.188Sep 8, 2025Close104.281Sep 11, 2025Close104.500Sep 16, 2025Close104.375Sep 19, 2025Close103.625Sep 24, 2025Close103.500Sep 29, 2025Close103.438Oct 2, 2025Close103.844Oct 7, 2025Close103.531Oct 10, 2025Close104.031Oct 16, 2025Close104.656Oct 21, 2025Close104.719Oct 24, 2025Close104.406Oct 29, 2025Close103.844Nov 3, 2025Close103.594Nov 6, 2025Close103.750Nov 12, 2025Close103.906Nov 17, 2025Close103.563Nov 20, 2025Close103.813Nov 25, 2025Close104.500Dec 1, 2025Close103.875Dec 4, 2025Close103.781Dec 9, 2025Close103.219Dec 12, 2025Close103.188Dec 17, 2025Close103.500Dec 22, 2025Close103.375Dec 26, 2025Close103.563Dec 31, 2025Close103.313Jan 6, 2026Close103.313Jan 9, 2026Close103.250Jan 14, 2026Close103.469Jan 20, 2026Close102.406Jan 23, 2026Close102.719Jan 28, 2026Close102.625Feb 2, 2026Close102.531Feb 5, 2026Close103.063Feb 10, 2026Close103.438Feb 13, 2026Close104.156Feb 19, 2026Close103.938Feb 24, 2026Close104.188Feb 27, 2026Close104.750Mar 4, 2026Close103.813Mar 9, 2026Close103.594Mar 12, 2026Close102.500Mar 17, 2026Close103.063Mar 20, 2026Close101.625Mar 25, 2026Close102.000Mar 30, 2026Close101.938Apr 2, 2026Close102.156Apr 7, 2026Close102.094Apr 10, 2026Close102.156Apr 15, 2026Close102.406Apr 20, 2026Close102.656Apr 23, 2026Close102.063Apr 28, 2026Close101.906May 1, 2026Close101.688May 6, 2026Close101.875May 11, 2026Close101.469May 14, 2026Close101.094May 19, 2026Close99.813May 22, 2026Close100.406May 28, 2026Close101.094Jun 2, 2026Close101.031Jun 5, 2026Close100.375Jun 10, 2026Close100.438Jun 15, 2026Close100.969Jun 18, 2026Close100.875Jun 24, 2026Close101.188Jun 29, 2026Close101.438Jul 2, 2026Close100.781Jul 8, 2026Close100.281Jul 13, 2026Close99.969Jul 16, 2026Close100.406Jul 21, 2026Close99.906Jul 24, 2026Close99.594Jul 29, 2026Close99.781Aug 3, 2026Close99.656Aug 6, 2026Close99.688Aug 11, 2026Close99.625Aug 14, 2026Close99.781Aug 19, 2026Close100.000Aug 24, 2026Close99.625Aug 27, 2026Close99.750Sep 1, 2026Close98.875Sep 4, 2026Close98.969Sep 9, 2026Close98.594
The most recent 20 trading days of prices for 91282CJJ1.
DateBidOfferClose
Sep 9, 202698.57898.56398.594
Sep 8, 202698.89198.87598.813
Sep 4, 202699.01699.00098.969
Sep 3, 202699.20399.18899.063
Sep 2, 202698.89198.87598.906
Sep 1, 202699.07899.06398.875
Aug 31, 202699.17299.15699.188
Aug 28, 202699.48499.46999.313
Aug 27, 202699.89199.87599.750
Aug 26, 202699.89199.87599.844
Aug 25, 202699.98499.969100.031
Aug 24, 202699.73499.71999.625
Aug 21, 202699.45399.43899.469
Aug 20, 202699.67299.65699.719
Aug 19, 202699.92299.906100.000
Aug 18, 202699.67299.65699.688
Aug 17, 202699.73499.71999.625
Aug 14, 202699.85999.84499.781
Aug 13, 2026100.078100.063100.063
Aug 12, 202699.82899.81399.750

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 91282CJJ1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 8, 2023Nov 15, 2023New issue$40.0bn$40.8bn2.45x4.519%
Dec 11, 2023Dec 15, 2023Reopening$37.0bn$37.0bn2.53x4.296%
Jan 10, 2024Jan 16, 2024Reopening$37.0bn$37.0bn2.56x4.024%

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.