Treasury note

91282CJM4 · 4.375% due November 30, 2030

Original term
7-Year
Maturity
Nov 30, 2030
Coupon
4.375%
Pays
Semi-Annual
Dated
Nov 30, 2023
First coupon
May 31, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$39.41bn
Held stripped
$0.3m
Share stripped
<0.01%

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
4.587%
Modified duration
3.766 yr
DV01
0.0378
Convexity
16.910
Dirty price
100.407

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 3.852 years against a modified duration of 3.766.

Against the fitted curve

Priced 0.5 bp rich to the curve on that day, 1.76 cents per 100 of face.

That is -1.21 standard deviations from its own typical residual.

Yield to maturity, 695 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Nov 30, 2023Sep 9, 2026Nov 30, 2023Yield to maturity4.380%Dec 5, 2023Yield to maturity4.203%Dec 8, 2023Yield to maturity4.275%Dec 13, 2023Yield to maturity4.042%Dec 18, 2023Yield to maturity3.970%Dec 21, 2023Yield to maturity3.908%Dec 27, 2023Yield to maturity3.810%Jan 2, 2024Yield to maturity3.962%Jan 5, 2024Yield to maturity4.055%Jan 10, 2024Yield to maturity4.028%Jan 16, 2024Yield to maturity4.022%Jan 19, 2024Yield to maturity4.131%Jan 24, 2024Yield to maturity4.152%Jan 29, 2024Yield to maturity4.036%Feb 1, 2024Yield to maturity3.844%Feb 6, 2024Yield to maturity4.083%Feb 9, 2024Yield to maturity4.188%Feb 14, 2024Yield to maturity4.283%Feb 20, 2024Yield to maturity4.294%Feb 23, 2024Yield to maturity4.299%Feb 28, 2024Yield to maturity4.304%Mar 4, 2024Yield to maturity4.245%Mar 7, 2024Yield to maturity4.106%Mar 12, 2024Yield to maturity4.180%Mar 15, 2024Yield to maturity4.341%Mar 20, 2024Yield to maturity4.282%Mar 25, 2024Yield to maturity4.260%Mar 28, 2024Yield to maturity4.228%Apr 2, 2024Yield to maturity4.380%Apr 5, 2024Yield to maturity4.407%Apr 10, 2024Yield to maturity4.606%Apr 15, 2024Yield to maturity4.657%Apr 18, 2024Yield to maturity4.679%Apr 23, 2024Yield to maturity4.630%Apr 26, 2024Yield to maturity4.703%May 1, 2024Yield to maturity4.647%May 6, 2024Yield to maturity4.491%May 9, 2024Yield to maturity4.469%May 14, 2024Yield to maturity4.458%May 17, 2024Yield to maturity4.442%May 22, 2024Yield to maturity4.453%May 28, 2024Yield to maturity4.577%May 31, 2024Yield to maturity4.532%Jun 5, 2024Yield to maturity4.308%Jun 10, 2024Yield to maturity4.481%Jun 13, 2024Yield to maturity4.241%Jun 18, 2024Yield to maturity4.235%Jun 24, 2024Yield to maturity4.268%Jun 27, 2024Yield to maturity4.301%Jul 2, 2024Yield to maturity4.408%Jul 8, 2024Yield to maturity4.239%Jul 11, 2024Yield to maturity4.149%Jul 16, 2024Yield to maturity4.110%Jul 19, 2024Yield to maturity4.188%Jul 24, 2024Yield to maturity4.199%Jul 29, 2024Yield to maturity4.092%Aug 1, 2024Yield to maturity3.885%Aug 6, 2024Yield to maturity3.785%Aug 9, 2024Yield to maturity3.850%Aug 14, 2024Yield to maturity3.723%Aug 19, 2024Yield to maturity3.793%Aug 22, 2024Yield to maturity3.770%Aug 27, 2024Yield to maturity3.730%Aug 30, 2024Yield to maturity3.796%Sep 5, 2024Yield to maturity3.618%Sep 10, 2024Yield to maturity3.512%Sep 13, 2024Yield to maturity3.510%Sep 18, 2024Yield to maturity3.559%Sep 23, 2024Yield to maturity3.596%Sep 26, 2024Yield to maturity3.639%Oct 1, 2024Yield to maturity3.588%Oct 4, 2024Yield to maturity3.867%Oct 9, 2024Yield to maturity3.963%Oct 15, 2024Yield to maturity3.923%Oct 18, 2024Yield to maturity3.950%Oct 23, 2024Yield to maturity4.117%Oct 28, 2024Yield to maturity4.169%Oct 31, 2024Yield to maturity4.204%Nov 5, 2024Yield to maturity4.210%Nov 8, 2024Yield to maturity4.239%Nov 14, 2024Yield to maturity4.363%Nov 19, 2024Yield to maturity4.303%Nov 22, 2024Yield to maturity4.339%Nov 27, 2024Yield to maturity4.179%Dec 3, 2024Yield to maturity4.167%Dec 6, 2024Yield to maturity4.083%Dec 11, 2024Yield to maturity4.178%Dec 16, 2024Yield to maturity4.297%Dec 19, 2024Yield to maturity4.483%Dec 24, 2024Yield to maturity4.502%Dec 30, 2024Yield to maturity4.423%Jan 3, 2025Yield to maturity4.466%Jan 8, 2025Yield to maturity4.515%Jan 13, 2025Yield to maturity4.669%Jan 16, 2025Yield to maturity4.454%Jan 22, 2025Yield to maturity4.478%Jan 27, 2025Yield to maturity4.386%Jan 30, 2025Yield to maturity4.368%Feb 4, 2025Yield to maturity4.374%Feb 7, 2025Yield to maturity4.386%Feb 12, 2025Yield to maturity4.529%Feb 18, 2025Yield to maturity4.454%Feb 21, 2025Yield to maturity4.312%Feb 26, 2025Yield to maturity4.122%Mar 3, 2025Yield to maturity4.023%Mar 6, 2025Yield to maturity4.133%Mar 11, 2025Yield to maturity4.096%Mar 14, 2025Yield to maturity4.150%Mar 19, 2025Yield to maturity4.089%Mar 24, 2025Yield to maturity4.156%Mar 27, 2025Yield to maturity4.162%Apr 1, 2025Yield to maturity3.970%Apr 4, 2025Yield to maturity3.785%Apr 9, 2025Yield to maturity4.130%Apr 14, 2025Yield to maturity4.104%Apr 17, 2025Yield to maturity4.029%Apr 22, 2025Yield to maturity4.072%Apr 25, 2025Yield to maturity3.966%Apr 30, 2025Yield to maturity3.804%May 5, 2025Yield to maturity4.021%May 8, 2025Yield to maturity4.064%May 13, 2025Yield to maturity4.183%May 16, 2025Yield to maturity4.120%May 21, 2025Yield to maturity4.215%May 27, 2025Yield to maturity4.094%May 30, 2025Yield to maturity4.042%Jun 4, 2025Yield to maturity4.004%Jun 9, 2025Yield to maturity4.156%Jun 12, 2025Yield to maturity4.021%Jun 17, 2025Yield to maturity4.039%Jun 23, 2025Yield to maturity3.955%Jun 26, 2025Yield to maturity3.853%Jul 1, 2025Yield to maturity3.890%Jul 7, 2025Yield to maturity4.010%Jul 10, 2025Yield to maturity3.978%Jul 15, 2025Yield to maturity4.100%Jul 18, 2025Yield to maturity4.008%Jul 23, 2025Yield to maturity3.982%Jul 28, 2025Yield to maturity4.013%Jul 31, 2025Yield to maturity4.000%Aug 5, 2025Yield to maturity3.804%Aug 8, 2025Yield to maturity3.868%Aug 13, 2025Yield to maturity3.809%Aug 18, 2025Yield to maturity3.892%Aug 21, 2025Yield to maturity3.898%Aug 26, 2025Yield to maturity3.779%Aug 29, 2025Yield to maturity3.739%Sep 4, 2025Yield to maturity3.686%Sep 9, 2025Yield to maturity3.639%Sep 12, 2025Yield to maturity3.656%Sep 17, 2025Yield to maturity3.655%Sep 22, 2025Yield to maturity3.732%Sep 25, 2025Yield to maturity3.791%Sep 30, 2025Yield to maturity3.763%Oct 3, 2025Yield to maturity3.742%Oct 8, 2025Yield to maturity3.747%Oct 14, 2025Yield to maturity3.627%Oct 17, 2025Yield to maturity3.612%Oct 22, 2025Yield to maturity3.577%Oct 27, 2025Yield to maturity3.635%Oct 30, 2025Yield to maturity3.741%Nov 4, 2025Yield to maturity3.713%Nov 7, 2025Yield to maturity3.691%Nov 13, 2025Yield to maturity3.724%Nov 18, 2025Yield to maturity3.709%Nov 21, 2025Yield to maturity3.633%Nov 26, 2025Yield to maturity3.591%Dec 2, 2025Yield to maturity3.670%Dec 5, 2025Yield to maturity3.723%Dec 10, 2025Yield to maturity3.736%Dec 15, 2025Yield to maturity3.741%Dec 18, 2025Yield to maturity3.671%Dec 23, 2025Yield to maturity3.745%Dec 29, 2025Yield to maturity3.674%Jan 2, 2026Yield to maturity3.734%Jan 7, 2026Yield to maturity3.691%Jan 12, 2026Yield to maturity3.759%Jan 15, 2026Yield to maturity3.765%Jan 21, 2026Yield to maturity3.826%Jan 26, 2026Yield to maturity3.818%Jan 29, 2026Yield to maturity3.803%Feb 3, 2026Yield to maturity3.822%Feb 6, 2026Yield to maturity3.743%Feb 11, 2026Yield to maturity3.742%Feb 17, 2026Yield to maturity3.620%Feb 20, 2026Yield to maturity3.646%Feb 25, 2026Yield to maturity3.617%Mar 2, 2026Yield to maturity3.622%Mar 5, 2026Yield to maturity3.721%Mar 10, 2026Yield to maturity3.733%Mar 13, 2026Yield to maturity3.876%Mar 18, 2026Yield to maturity3.875%Mar 23, 2026Yield to maturity3.968%Mar 26, 2026Yield to maturity4.107%Mar 31, 2026Yield to maturity3.923%Apr 3, 2026Yield to maturity3.988%Apr 8, 2026Yield to maturity3.921%Apr 13, 2026Yield to maturity3.912%Apr 16, 2026Yield to maturity3.912%Apr 21, 2026Yield to maturity3.903%Apr 24, 2026Yield to maturity3.909%Apr 29, 2026Yield to maturity4.050%May 4, 2026Yield to maturity4.079%May 7, 2026Yield to maturity4.041%May 12, 2026Yield to maturity4.116%May 15, 2026Yield to maturity4.252%May 20, 2026Yield to maturity4.214%May 26, 2026Yield to maturity4.183%May 29, 2026Yield to maturity4.137%Jun 3, 2026Yield to maturity4.205%Jun 8, 2026Yield to maturity4.282%Jun 11, 2026Yield to maturity4.173%Jun 16, 2026Yield to maturity4.150%Jun 22, 2026Yield to maturity4.288%Jun 25, 2026Yield to maturity4.164%Jun 30, 2026Yield to maturity4.194%Jul 6, 2026Yield to maturity4.201%Jul 9, 2026Yield to maturity4.264%Jul 14, 2026Yield to maturity4.303%Jul 17, 2026Yield to maturity4.271%Jul 22, 2026Yield to maturity4.406%Jul 27, 2026Yield to maturity4.398%Jul 30, 2026Yield to maturity4.374%Aug 4, 2026Yield to maturity4.318%Aug 7, 2026Yield to maturity4.333%Aug 12, 2026Yield to maturity4.349%Aug 17, 2026Yield to maturity4.349%Aug 20, 2026Yield to maturity4.357%Aug 25, 2026Yield to maturity4.333%Aug 28, 2026Yield to maturity4.471%Sep 2, 2026Yield to maturity4.529%Sep 8, 2026Yield to maturity4.546%Sep 9, 2026Yield to maturity4.587%

Price history

695 trading days to Sep 9, 2026

9899100101102103104105Nov 30, 2023Sep 9, 2026Nov 30, 2023Close99.969Dec 5, 2023Close101.031Dec 8, 2023Close100.594Dec 13, 2023Close102.000Dec 18, 2023Close102.438Dec 21, 2023Close102.813Dec 27, 2023Close103.406Jan 2, 2024Close102.469Jan 5, 2024Close101.906Jan 10, 2024Close102.063Jan 16, 2024Close102.094Jan 19, 2024Close101.438Jan 24, 2024Close101.313Jan 29, 2024Close102.000Feb 1, 2024Close103.156Feb 6, 2024Close101.719Feb 9, 2024Close101.094Feb 14, 2024Close100.531Feb 20, 2024Close100.469Feb 23, 2024Close100.438Feb 28, 2024Close100.406Mar 4, 2024Close100.750Mar 7, 2024Close101.563Mar 12, 2024Close101.125Mar 15, 2024Close100.188Mar 20, 2024Close100.531Mar 25, 2024Close100.656Mar 28, 2024Close100.844Apr 2, 2024Close99.969Apr 5, 2024Close99.813Apr 10, 2024Close98.688Apr 15, 2024Close98.406Apr 18, 2024Close98.281Apr 23, 2024Close98.563Apr 26, 2024Close98.156May 1, 2024Close98.469May 6, 2024Close99.344May 9, 2024Close99.469May 14, 2024Close99.531May 17, 2024Close99.625May 22, 2024Close99.563May 28, 2024Close98.875May 31, 2024Close99.125Jun 5, 2024Close100.375Jun 10, 2024Close99.406Jun 13, 2024Close100.750Jun 18, 2024Close100.781Jun 24, 2024Close100.594Jun 27, 2024Close100.406Jul 2, 2024Close99.813Jul 8, 2024Close100.750Jul 11, 2024Close101.250Jul 16, 2024Close101.469Jul 19, 2024Close101.031Jul 24, 2024Close100.969Jul 29, 2024Close101.563Aug 1, 2024Close102.719Aug 6, 2024Close103.281Aug 9, 2024Close102.906Aug 14, 2024Close103.625Aug 19, 2024Close103.219Aug 22, 2024Close103.344Aug 27, 2024Close103.563Aug 30, 2024Close103.188Sep 5, 2024Close104.188Sep 10, 2024Close104.781Sep 13, 2024Close104.781Sep 18, 2024Close104.500Sep 23, 2024Close104.281Sep 26, 2024Close104.031Oct 1, 2024Close104.313Oct 4, 2024Close102.750Oct 9, 2024Close102.219Oct 15, 2024Close102.438Oct 18, 2024Close102.281Oct 23, 2024Close101.375Oct 28, 2024Close101.094Oct 31, 2024Close100.906Nov 5, 2024Close100.875Nov 8, 2024Close100.719Nov 14, 2024Close100.063Nov 19, 2024Close100.375Nov 22, 2024Close100.188Nov 27, 2024Close101.031Dec 3, 2024Close101.094Dec 6, 2024Close101.531Dec 11, 2024Close101.031Dec 16, 2024Close100.406Dec 19, 2024Close99.438Dec 24, 2024Close99.344Dec 30, 2024Close99.750Jan 3, 2025Close99.531Jan 8, 2025Close99.281Jan 13, 2025Close98.500Jan 16, 2025Close99.594Jan 22, 2025Close99.469Jan 27, 2025Close99.938Jan 30, 2025Close100.031Feb 4, 2025Close100.000Feb 7, 2025Close99.938Feb 12, 2025Close99.219Feb 18, 2025Close99.594Feb 21, 2025Close100.313Feb 26, 2025Close101.281Mar 3, 2025Close101.781Mar 6, 2025Close101.219Mar 11, 2025Close101.406Mar 14, 2025Close101.125Mar 19, 2025Close101.438Mar 24, 2025Close101.094Mar 27, 2025Close101.063Apr 1, 2025Close102.031Apr 4, 2025Close102.969Apr 9, 2025Close101.219Apr 14, 2025Close101.344Apr 17, 2025Close101.719Apr 22, 2025Close101.500Apr 25, 2025Close102.031Apr 30, 2025Close102.844May 5, 2025Close101.750May 8, 2025Close101.531May 13, 2025Close100.938May 16, 2025Close101.250May 21, 2025Close100.781May 27, 2025Close101.375May 30, 2025Close101.625Jun 4, 2025Close101.813Jun 9, 2025Close101.063Jun 12, 2025Close101.719Jun 17, 2025Close101.625Jun 23, 2025Close102.031Jun 26, 2025Close102.531Jul 1, 2025Close102.344Jul 7, 2025Close101.750Jul 10, 2025Close101.906Jul 15, 2025Close101.313Jul 18, 2025Close101.750Jul 23, 2025Close101.875Jul 28, 2025Close101.719Jul 31, 2025Close101.781Aug 5, 2025Close102.719Aug 8, 2025Close102.406Aug 13, 2025Close102.688Aug 18, 2025Close102.281Aug 21, 2025Close102.250Aug 26, 2025Close102.813Aug 29, 2025Close103.000Sep 4, 2025Close103.250Sep 9, 2025Close103.469Sep 12, 2025Close103.375Sep 17, 2025Close103.375Sep 22, 2025Close103.000Sep 25, 2025Close102.719Sep 30, 2025Close102.844Oct 3, 2025Close102.938Oct 8, 2025Close102.906Oct 14, 2025Close103.469Oct 17, 2025Close103.531Oct 22, 2025Close103.688Oct 27, 2025Close103.406Oct 30, 2025Close102.906Nov 4, 2025Close103.031Nov 7, 2025Close103.125Nov 13, 2025Close102.969Nov 18, 2025Close103.031Nov 21, 2025Close103.375Nov 26, 2025Close103.563Dec 2, 2025Close103.188Dec 5, 2025Close102.938Dec 10, 2025Close102.875Dec 15, 2025Close102.844Dec 18, 2025Close103.156Dec 23, 2025Close102.813Dec 29, 2025Close103.125Jan 2, 2026Close102.844Jan 7, 2026Close103.031Jan 12, 2026Close102.719Jan 15, 2026Close102.688Jan 21, 2026Close102.406Jan 26, 2026Close102.438Jan 29, 2026Close102.500Feb 3, 2026Close102.406Feb 6, 2026Close102.750Feb 11, 2026Close102.750Feb 17, 2026Close103.281Feb 20, 2026Close103.156Feb 25, 2026Close103.281Mar 2, 2026Close103.250Mar 5, 2026Close102.813Mar 10, 2026Close102.750Mar 13, 2026Close102.125Mar 18, 2026Close102.125Mar 23, 2026Close101.719Mar 26, 2026Close101.125Mar 31, 2026Close101.906Apr 3, 2026Close101.625Apr 8, 2026Close101.906Apr 13, 2026Close101.938Apr 16, 2026Close101.938Apr 21, 2026Close101.969Apr 24, 2026Close101.938Apr 29, 2026Close101.344May 4, 2026Close101.219May 7, 2026Close101.375May 12, 2026Close101.063May 15, 2026Close100.500May 20, 2026Close100.656May 26, 2026Close100.781May 29, 2026Close100.969Jun 3, 2026Close100.688Jun 8, 2026Close100.375Jun 11, 2026Close100.813Jun 16, 2026Close100.906Jun 22, 2026Close100.344Jun 25, 2026Close100.844Jun 30, 2026Close100.719Jul 6, 2026Close100.688Jul 9, 2026Close100.438Jul 14, 2026Close100.281Jul 17, 2026Close100.406Jul 22, 2026Close99.875Jul 27, 2026Close99.906Jul 30, 2026Close100.000Aug 4, 2026Close100.219Aug 7, 2026Close100.156Aug 12, 2026Close100.094Aug 17, 2026Close100.094Aug 20, 2026Close100.063Aug 25, 2026Close100.156Aug 28, 2026Close99.625Sep 2, 2026Close99.406Sep 8, 2026Close99.344Sep 9, 2026Close99.188
The most recent 20 trading days of prices for 91282CJM4.
DateBidOfferClose
Sep 9, 202699.18899.15699.188
Sep 8, 202699.39199.37599.344
Sep 4, 202699.46999.43899.406
Sep 3, 202699.64199.62599.531
Sep 2, 202699.40699.37599.406
Sep 1, 202699.51699.50099.375
Aug 31, 202699.60999.59499.594
Aug 28, 202699.75099.71999.625
Aug 27, 2026100.094100.063100.000
Aug 26, 2026100.094100.063100.063
Aug 25, 2026100.172100.156100.156
Aug 24, 2026100.016100.00099.938
Aug 21, 202699.89199.87599.875
Aug 20, 2026100.047100.031100.063
Aug 19, 2026100.141100.125100.188
Aug 18, 2026100.141100.125100.094
Aug 17, 2026100.141100.125100.094
Aug 14, 2026100.234100.219100.125
Aug 13, 2026100.297100.281100.313
Aug 12, 2026100.141100.125100.094

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 91282CJM4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 28, 2023Nov 30, 2023New issue$39.0bn$39.4bn2.44x4.399%

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.