Treasury note

91282CJQ5 · 3.75% due December 31, 2030

Original term
7-Year
Maturity
Dec 31, 2030
Coupon
3.750%
Pays
Semi-Annual
Dated
Dec 31, 2023
First coupon
Jun 30, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$39.44bn
Held stripped
$5.6m
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
4.598%
Modified duration
3.891 yr
DV01
0.0379
Convexity
17.830
Dirty price
97.452

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 3.981 years against a modified duration of 3.891.

Against the fitted curve

Priced 0.1 bp rich to the curve on that day, 0.22 cents per 100 of face.

That is -0.22 standard deviations from its own typical residual.

Yield to maturity, 674 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Jan 2, 2024Sep 9, 2026Jan 2, 2024Yield to maturity3.951%Jan 5, 2024Yield to maturity4.040%Jan 10, 2024Yield to maturity4.014%Jan 16, 2024Yield to maturity4.009%Jan 19, 2024Yield to maturity4.121%Jan 24, 2024Yield to maturity4.142%Jan 29, 2024Yield to maturity4.032%Feb 1, 2024Yield to maturity3.838%Feb 6, 2024Yield to maturity4.075%Feb 9, 2024Yield to maturity4.176%Feb 14, 2024Yield to maturity4.279%Feb 20, 2024Yield to maturity4.280%Feb 23, 2024Yield to maturity4.292%Feb 28, 2024Yield to maturity4.292%Mar 4, 2024Yield to maturity4.239%Mar 7, 2024Yield to maturity4.099%Mar 12, 2024Yield to maturity4.170%Mar 15, 2024Yield to maturity4.334%Mar 20, 2024Yield to maturity4.274%Mar 25, 2024Yield to maturity4.253%Mar 28, 2024Yield to maturity4.221%Apr 2, 2024Yield to maturity4.376%Apr 5, 2024Yield to maturity4.399%Apr 10, 2024Yield to maturity4.595%Apr 15, 2024Yield to maturity4.647%Apr 18, 2024Yield to maturity4.671%Apr 23, 2024Yield to maturity4.622%Apr 26, 2024Yield to maturity4.697%May 1, 2024Yield to maturity4.641%May 6, 2024Yield to maturity4.490%May 9, 2024Yield to maturity4.463%May 14, 2024Yield to maturity4.459%May 17, 2024Yield to maturity4.437%May 22, 2024Yield to maturity4.450%May 28, 2024Yield to maturity4.570%May 31, 2024Yield to maturity4.526%Jun 5, 2024Yield to maturity4.301%Jun 10, 2024Yield to maturity4.477%Jun 13, 2024Yield to maturity4.235%Jun 18, 2024Yield to maturity4.231%Jun 24, 2024Yield to maturity4.260%Jun 27, 2024Yield to maturity4.300%Jul 2, 2024Yield to maturity4.409%Jul 8, 2024Yield to maturity4.240%Jul 11, 2024Yield to maturity4.150%Jul 16, 2024Yield to maturity4.111%Jul 19, 2024Yield to maturity4.185%Jul 24, 2024Yield to maturity4.197%Jul 29, 2024Yield to maturity4.090%Aug 1, 2024Yield to maturity3.883%Aug 6, 2024Yield to maturity3.783%Aug 9, 2024Yield to maturity3.850%Aug 14, 2024Yield to maturity3.722%Aug 19, 2024Yield to maturity3.794%Aug 22, 2024Yield to maturity3.772%Aug 27, 2024Yield to maturity3.733%Aug 30, 2024Yield to maturity3.800%Sep 5, 2024Yield to maturity3.615%Sep 10, 2024Yield to maturity3.510%Sep 13, 2024Yield to maturity3.509%Sep 18, 2024Yield to maturity3.559%Sep 23, 2024Yield to maturity3.598%Sep 26, 2024Yield to maturity3.642%Oct 1, 2024Yield to maturity3.592%Oct 4, 2024Yield to maturity3.869%Oct 9, 2024Yield to maturity3.961%Oct 15, 2024Yield to maturity3.921%Oct 18, 2024Yield to maturity3.950%Oct 23, 2024Yield to maturity4.125%Oct 28, 2024Yield to maturity4.172%Oct 31, 2024Yield to maturity4.202%Nov 5, 2024Yield to maturity4.215%Nov 8, 2024Yield to maturity4.246%Nov 14, 2024Yield to maturity4.372%Nov 19, 2024Yield to maturity4.307%Nov 22, 2024Yield to maturity4.338%Nov 27, 2024Yield to maturity4.172%Dec 3, 2024Yield to maturity4.161%Dec 6, 2024Yield to maturity4.078%Dec 11, 2024Yield to maturity4.180%Dec 16, 2024Yield to maturity4.301%Dec 19, 2024Yield to maturity4.490%Dec 24, 2024Yield to maturity4.505%Dec 30, 2024Yield to maturity4.427%Jan 3, 2025Yield to maturity4.471%Jan 8, 2025Yield to maturity4.521%Jan 13, 2025Yield to maturity4.672%Jan 16, 2025Yield to maturity4.462%Jan 22, 2025Yield to maturity4.482%Jan 27, 2025Yield to maturity4.397%Jan 30, 2025Yield to maturity4.373%Feb 4, 2025Yield to maturity4.380%Feb 7, 2025Yield to maturity4.388%Feb 12, 2025Yield to maturity4.532%Feb 18, 2025Yield to maturity4.459%Feb 21, 2025Yield to maturity4.317%Feb 26, 2025Yield to maturity4.126%Mar 3, 2025Yield to maturity4.028%Mar 6, 2025Yield to maturity4.139%Mar 11, 2025Yield to maturity4.109%Mar 14, 2025Yield to maturity4.160%Mar 19, 2025Yield to maturity4.092%Mar 24, 2025Yield to maturity4.161%Mar 27, 2025Yield to maturity4.168%Apr 1, 2025Yield to maturity3.976%Apr 4, 2025Yield to maturity3.786%Apr 9, 2025Yield to maturity4.133%Apr 14, 2025Yield to maturity4.108%Apr 17, 2025Yield to maturity4.040%Apr 22, 2025Yield to maturity4.085%Apr 25, 2025Yield to maturity3.979%Apr 30, 2025Yield to maturity3.817%May 5, 2025Yield to maturity4.024%May 8, 2025Yield to maturity4.081%May 13, 2025Yield to maturity4.196%May 16, 2025Yield to maturity4.133%May 21, 2025Yield to maturity4.230%May 27, 2025Yield to maturity4.103%May 30, 2025Yield to maturity4.053%Jun 4, 2025Yield to maturity4.015%Jun 9, 2025Yield to maturity4.169%Jun 12, 2025Yield to maturity4.035%Jun 17, 2025Yield to maturity4.049%Jun 23, 2025Yield to maturity3.973%Jun 26, 2025Yield to maturity3.864%Jul 1, 2025Yield to maturity3.897%Jul 7, 2025Yield to maturity4.019%Jul 10, 2025Yield to maturity3.987%Jul 15, 2025Yield to maturity4.104%Jul 18, 2025Yield to maturity4.021%Jul 23, 2025Yield to maturity3.995%Jul 28, 2025Yield to maturity4.028%Jul 31, 2025Yield to maturity4.009%Aug 5, 2025Yield to maturity3.814%Aug 8, 2025Yield to maturity3.879%Aug 13, 2025Yield to maturity3.821%Aug 18, 2025Yield to maturity3.899%Aug 21, 2025Yield to maturity3.906%Aug 26, 2025Yield to maturity3.795%Aug 29, 2025Yield to maturity3.743%Sep 4, 2025Yield to maturity3.690%Sep 9, 2025Yield to maturity3.645%Sep 12, 2025Yield to maturity3.664%Sep 17, 2025Yield to maturity3.657%Sep 22, 2025Yield to maturity3.742%Sep 25, 2025Yield to maturity3.795%Sep 30, 2025Yield to maturity3.769%Oct 3, 2025Yield to maturity3.742%Oct 8, 2025Yield to maturity3.756%Oct 14, 2025Yield to maturity3.630%Oct 17, 2025Yield to maturity3.616%Oct 22, 2025Yield to maturity3.583%Oct 27, 2025Yield to maturity3.642%Oct 30, 2025Yield to maturity3.742%Nov 4, 2025Yield to maturity3.716%Nov 7, 2025Yield to maturity3.702%Nov 13, 2025Yield to maturity3.729%Nov 18, 2025Yield to maturity3.716%Nov 21, 2025Yield to maturity3.641%Nov 26, 2025Yield to maturity3.594%Dec 2, 2025Yield to maturity3.681%Dec 5, 2025Yield to maturity3.729%Dec 10, 2025Yield to maturity3.736%Dec 15, 2025Yield to maturity3.743%Dec 18, 2025Yield to maturity3.674%Dec 23, 2025Yield to maturity3.750%Dec 29, 2025Yield to maturity3.681%Jan 2, 2026Yield to maturity3.743%Jan 7, 2026Yield to maturity3.701%Jan 12, 2026Yield to maturity3.771%Jan 15, 2026Yield to maturity3.778%Jan 21, 2026Yield to maturity3.834%Jan 26, 2026Yield to maturity3.827%Jan 29, 2026Yield to maturity3.806%Feb 3, 2026Yield to maturity3.834%Feb 6, 2026Yield to maturity3.756%Feb 11, 2026Yield to maturity3.749%Feb 17, 2026Yield to maturity3.629%Feb 20, 2026Yield to maturity3.657%Feb 25, 2026Yield to maturity3.621%Mar 2, 2026Yield to maturity3.621%Mar 5, 2026Yield to maturity3.728%Mar 10, 2026Yield to maturity3.735%Mar 13, 2026Yield to maturity3.879%Mar 18, 2026Yield to maturity3.879%Mar 23, 2026Yield to maturity3.974%Mar 26, 2026Yield to maturity4.106%Mar 31, 2026Yield to maturity3.931%Apr 3, 2026Yield to maturity3.990%Apr 8, 2026Yield to maturity3.924%Apr 13, 2026Yield to maturity3.917%Apr 16, 2026Yield to maturity3.918%Apr 21, 2026Yield to maturity3.911%Apr 24, 2026Yield to maturity3.919%Apr 29, 2026Yield to maturity4.053%May 4, 2026Yield to maturity4.084%May 7, 2026Yield to maturity4.039%May 12, 2026Yield to maturity4.123%May 15, 2026Yield to maturity4.261%May 20, 2026Yield to maturity4.224%May 26, 2026Yield to maturity4.187%May 29, 2026Yield to maturity4.143%Jun 3, 2026Yield to maturity4.212%Jun 8, 2026Yield to maturity4.283%Jun 11, 2026Yield to maturity4.176%Jun 16, 2026Yield to maturity4.154%Jun 22, 2026Yield to maturity4.295%Jun 25, 2026Yield to maturity4.164%Jun 30, 2026Yield to maturity4.196%Jul 6, 2026Yield to maturity4.206%Jul 9, 2026Yield to maturity4.269%Jul 14, 2026Yield to maturity4.310%Jul 17, 2026Yield to maturity4.272%Jul 22, 2026Yield to maturity4.407%Jul 27, 2026Yield to maturity4.401%Jul 30, 2026Yield to maturity4.370%Aug 4, 2026Yield to maturity4.324%Aug 7, 2026Yield to maturity4.333%Aug 12, 2026Yield to maturity4.358%Aug 17, 2026Yield to maturity4.352%Aug 20, 2026Yield to maturity4.361%Aug 25, 2026Yield to maturity4.339%Aug 28, 2026Yield to maturity4.478%Sep 2, 2026Yield to maturity4.537%Sep 8, 2026Yield to maturity4.556%Sep 9, 2026Yield to maturity4.598%

Price history

674 trading days to Sep 9, 2026

949698100102Jan 2, 2024Sep 9, 2026Jan 2, 2024Close98.781Jan 5, 2024Close98.250Jan 10, 2024Close98.406Jan 16, 2024Close98.438Jan 19, 2024Close97.781Jan 24, 2024Close97.656Jan 29, 2024Close98.313Feb 1, 2024Close99.469Feb 6, 2024Close98.063Feb 9, 2024Close97.469Feb 14, 2024Close96.875Feb 20, 2024Close96.875Feb 23, 2024Close96.813Feb 28, 2024Close96.813Mar 4, 2024Close97.125Mar 7, 2024Close97.938Mar 12, 2024Close97.531Mar 15, 2024Close96.594Mar 20, 2024Close96.938Mar 25, 2024Close97.063Mar 28, 2024Close97.250Apr 2, 2024Close96.375Apr 5, 2024Close96.250Apr 10, 2024Close95.156Apr 15, 2024Close94.875Apr 18, 2024Close94.750Apr 23, 2024Close95.031Apr 26, 2024Close94.625May 1, 2024Close94.938May 6, 2024Close95.781May 9, 2024Close95.938May 14, 2024Close95.969May 17, 2024Close96.094May 22, 2024Close96.031May 28, 2024Close95.375May 31, 2024Close95.625Jun 5, 2024Close96.875Jun 10, 2024Close95.906Jun 13, 2024Close97.250Jun 18, 2024Close97.281Jun 24, 2024Close97.125Jun 27, 2024Close96.906Jul 2, 2024Close96.313Jul 8, 2024Close97.250Jul 11, 2024Close97.750Jul 16, 2024Close97.969Jul 19, 2024Close97.563Jul 24, 2024Close97.500Jul 29, 2024Close98.094Aug 1, 2024Close99.250Aug 6, 2024Close99.813Aug 9, 2024Close99.438Aug 14, 2024Close100.156Aug 19, 2024Close99.750Aug 22, 2024Close99.875Aug 27, 2024Close100.094Aug 30, 2024Close99.719Sep 5, 2024Close100.750Sep 10, 2024Close101.344Sep 13, 2024Close101.344Sep 18, 2024Close101.063Sep 23, 2024Close100.844Sep 26, 2024Close100.594Oct 1, 2024Close100.875Oct 4, 2024Close99.344Oct 9, 2024Close98.844Oct 15, 2024Close99.063Oct 18, 2024Close98.906Oct 23, 2024Close97.969Oct 28, 2024Close97.719Oct 31, 2024Close97.563Nov 5, 2024Close97.500Nov 8, 2024Close97.344Nov 14, 2024Close96.688Nov 19, 2024Close97.031Nov 22, 2024Close96.875Nov 27, 2024Close97.750Dec 3, 2024Close97.813Dec 6, 2024Close98.250Dec 11, 2024Close97.719Dec 16, 2024Close97.094Dec 19, 2024Close96.125Dec 24, 2024Close96.063Dec 30, 2024Close96.469Jan 3, 2025Close96.250Jan 8, 2025Close96.000Jan 13, 2025Close95.250Jan 16, 2025Close96.313Jan 22, 2025Close96.219Jan 27, 2025Close96.656Jan 30, 2025Close96.781Feb 4, 2025Close96.750Feb 7, 2025Close96.719Feb 12, 2025Close96.000Feb 18, 2025Close96.375Feb 21, 2025Close97.094Feb 26, 2025Close98.063Mar 3, 2025Close98.563Mar 6, 2025Close98.000Mar 11, 2025Close98.156Mar 14, 2025Close97.906Mar 19, 2025Close98.250Mar 24, 2025Close97.906Mar 27, 2025Close97.875Apr 1, 2025Close98.844Apr 4, 2025Close99.813Apr 9, 2025Close98.063Apr 14, 2025Close98.188Apr 17, 2025Close98.531Apr 22, 2025Close98.313Apr 25, 2025Close98.844Apr 30, 2025Close99.656May 5, 2025Close98.625May 8, 2025Close98.344May 13, 2025Close97.781May 16, 2025Close98.094May 21, 2025Close97.625May 27, 2025Close98.250May 30, 2025Close98.500Jun 4, 2025Close98.688Jun 9, 2025Close97.938Jun 12, 2025Close98.594Jun 17, 2025Close98.531Jun 23, 2025Close98.906Jun 26, 2025Close99.438Jul 1, 2025Close99.281Jul 7, 2025Close98.688Jul 10, 2025Close98.844Jul 15, 2025Close98.281Jul 18, 2025Close98.688Jul 23, 2025Close98.813Jul 28, 2025Close98.656Jul 31, 2025Close98.750Aug 5, 2025Close99.688Aug 8, 2025Close99.375Aug 13, 2025Close99.656Aug 18, 2025Close99.281Aug 21, 2025Close99.250Aug 26, 2025Close99.781Aug 29, 2025Close100.031Sep 4, 2025Close100.281Sep 9, 2025Close100.500Sep 12, 2025Close100.406Sep 17, 2025Close100.438Sep 22, 2025Close100.031Sep 25, 2025Close99.781Sep 30, 2025Close99.906Oct 3, 2025Close100.031Oct 8, 2025Close99.969Oct 14, 2025Close100.563Oct 17, 2025Close100.625Oct 22, 2025Close100.781Oct 27, 2025Close100.500Oct 30, 2025Close100.031Nov 4, 2025Close100.156Nov 7, 2025Close100.219Nov 13, 2025Close100.094Nov 18, 2025Close100.156Nov 21, 2025Close100.500Nov 26, 2025Close100.719Dec 2, 2025Close100.313Dec 5, 2025Close100.094Dec 10, 2025Close100.063Dec 15, 2025Close100.031Dec 18, 2025Close100.344Dec 23, 2025Close100.000Dec 29, 2025Close100.313Jan 2, 2026Close100.031Jan 7, 2026Close100.219Jan 12, 2026Close99.906Jan 15, 2026Close99.875Jan 21, 2026Close99.625Jan 26, 2026Close99.656Jan 29, 2026Close99.750Feb 3, 2026Close99.625Feb 6, 2026Close99.969Feb 11, 2026Close100.000Feb 17, 2026Close100.531Feb 20, 2026Close100.406Feb 25, 2026Close100.563Mar 2, 2026Close100.563Mar 5, 2026Close100.094Mar 10, 2026Close100.063Mar 13, 2026Close99.438Mar 18, 2026Close99.438Mar 23, 2026Close99.031Mar 26, 2026Close98.469Mar 31, 2026Close99.219Apr 3, 2026Close98.969Apr 8, 2026Close99.250Apr 13, 2026Close99.281Apr 16, 2026Close99.281Apr 21, 2026Close99.313Apr 24, 2026Close99.281Apr 29, 2026Close98.719May 4, 2026Close98.594May 7, 2026Close98.781May 12, 2026Close98.438May 15, 2026Close97.875May 20, 2026Close98.031May 26, 2026Close98.188May 29, 2026Close98.375Jun 3, 2026Close98.094Jun 8, 2026Close97.813Jun 11, 2026Close98.250Jun 16, 2026Close98.344Jun 22, 2026Close97.781Jun 25, 2026Close98.313Jun 30, 2026Close98.188Jul 6, 2026Close98.156Jul 9, 2026Close97.906Jul 14, 2026Close97.750Jul 17, 2026Close97.906Jul 22, 2026Close97.375Jul 27, 2026Close97.406Jul 30, 2026Close97.531Aug 4, 2026Close97.719Aug 7, 2026Close97.688Aug 12, 2026Close97.594Aug 17, 2026Close97.625Aug 20, 2026Close97.594Aug 25, 2026Close97.688Aug 28, 2026Close97.156Sep 2, 2026Close96.938Sep 8, 2026Close96.875Sep 9, 2026Close96.719
The most recent 20 trading days of prices for 91282CJQ5.
DateBidOfferClose
Sep 9, 202696.75096.71996.719
Sep 8, 202696.92296.90696.875
Sep 4, 202697.01697.00096.969
Sep 3, 202697.17297.15697.094
Sep 2, 202696.95396.93896.938
Sep 1, 202697.04797.03196.906
Aug 31, 202697.14197.12597.125
Aug 28, 202697.28197.25097.156
Aug 27, 202697.62597.59497.531
Aug 26, 202697.60997.59497.594
Aug 25, 202697.67297.65697.688
Aug 24, 202697.54797.53197.469
Aug 21, 202697.40697.37597.406
Aug 20, 202697.57897.56397.594
Aug 19, 202697.67297.65697.688
Aug 18, 202697.64197.62597.625
Aug 17, 202697.67297.65697.625
Aug 14, 202697.73497.71997.656
Aug 13, 202697.82897.81397.813
Aug 12, 202697.67297.65697.594

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 91282CJQ5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 28, 2023Jan 2, 2024New issue$40.0bn$40.0bn2.50x3.859%

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.