Treasury note

91282CJT9 · 4% due January 15, 2027

Original term
3-Year
Maturity
Jan 15, 2027
Coupon
4.000%
Pays
Semi-Annual
Dated
Jan 15, 2024
First coupon
Jul 15, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$51.12bn
Held stripped
$48.5m
Share stripped
0.09%

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
3.884%
Modified duration
0.341 yr
DV01
0.0034
Convexity
0.232
Dirty price
100.651

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 2 of twelve buckets, summing to 0.348 years against a modified duration of 0.341.

Against the fitted curve

Priced 13.5 bp rich to the curve on that day, 4.64 cents per 100 of face.

That is -2.33 standard deviations from its own typical residual.

Yield to maturity, 665 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Jan 16, 2024Sep 9, 2026Jan 16, 2024Yield to maturity4.022%Jan 19, 2024Yield to maturity4.180%Jan 24, 2024Yield to maturity4.192%Jan 29, 2024Yield to maturity4.101%Feb 1, 2024Yield to maturity3.965%Feb 6, 2024Yield to maturity4.193%Feb 9, 2024Yield to maturity4.286%Feb 14, 2024Yield to maturity4.391%Feb 20, 2024Yield to maturity4.405%Feb 23, 2024Yield to maturity4.477%Feb 28, 2024Yield to maturity4.455%Mar 4, 2024Yield to maturity4.409%Mar 7, 2024Yield to maturity4.304%Mar 12, 2024Yield to maturity4.388%Mar 15, 2024Yield to maturity4.546%Mar 20, 2024Yield to maturity4.439%Mar 25, 2024Yield to maturity4.429%Mar 28, 2024Yield to maturity4.454%Apr 2, 2024Yield to maturity4.554%Apr 5, 2024Yield to maturity4.593%Apr 10, 2024Yield to maturity4.841%Apr 15, 2024Yield to maturity4.833%Apr 18, 2024Yield to maturity4.860%Apr 23, 2024Yield to maturity4.802%Apr 26, 2024Yield to maturity4.881%May 1, 2024Yield to maturity4.846%May 6, 2024Yield to maturity4.685%May 9, 2024Yield to maturity4.675%May 14, 2024Yield to maturity4.665%May 17, 2024Yield to maturity4.656%May 22, 2024Yield to maturity4.709%May 28, 2024Yield to maturity4.817%May 31, 2024Yield to maturity4.756%Jun 5, 2024Yield to maturity4.590%Jun 10, 2024Yield to maturity4.737%Jun 13, 2024Yield to maturity4.529%Jun 18, 2024Yield to maturity4.533%Jun 24, 2024Yield to maturity4.562%Jun 27, 2024Yield to maturity4.591%Jul 2, 2024Yield to maturity4.634%Jul 8, 2024Yield to maturity4.491%Jul 11, 2024Yield to maturity4.385%Jul 16, 2024Yield to maturity4.307%Jul 19, 2024Yield to maturity4.389%Jul 24, 2024Yield to maturity4.336%Jul 29, 2024Yield to maturity4.283%Aug 1, 2024Yield to maturity4.067%Aug 6, 2024Yield to maturity3.918%Aug 9, 2024Yield to maturity3.985%Aug 14, 2024Yield to maturity3.862%Aug 19, 2024Yield to maturity3.957%Aug 22, 2024Yield to maturity3.902%Aug 27, 2024Yield to maturity3.818%Aug 30, 2024Yield to maturity3.873%Sep 5, 2024Yield to maturity3.691%Sep 10, 2024Yield to maturity3.536%Sep 13, 2024Yield to maturity3.519%Sep 18, 2024Yield to maturity3.560%Sep 23, 2024Yield to maturity3.543%Sep 26, 2024Yield to maturity3.612%Oct 1, 2024Yield to maturity3.596%Oct 4, 2024Yield to maturity3.911%Oct 9, 2024Yield to maturity3.983%Oct 15, 2024Yield to maturity3.924%Oct 18, 2024Yield to maturity3.924%Oct 23, 2024Yield to maturity4.072%Oct 28, 2024Yield to maturity4.117%Oct 31, 2024Yield to maturity4.147%Nov 5, 2024Yield to maturity4.179%Nov 8, 2024Yield to maturity4.241%Nov 14, 2024Yield to maturity4.334%Nov 19, 2024Yield to maturity4.274%Nov 22, 2024Yield to maturity4.369%Nov 27, 2024Yield to maturity4.231%Dec 3, 2024Yield to maturity4.185%Dec 6, 2024Yield to maturity4.108%Dec 11, 2024Yield to maturity4.156%Dec 16, 2024Yield to maturity4.252%Dec 19, 2024Yield to maturity4.333%Dec 24, 2024Yield to maturity4.369%Dec 30, 2024Yield to maturity4.274%Jan 3, 2025Yield to maturity4.293%Jan 8, 2025Yield to maturity4.294%Jan 13, 2025Yield to maturity4.412%Jan 16, 2025Yield to maturity4.247%Jan 22, 2025Yield to maturity4.299%Jan 27, 2025Yield to maturity4.217%Jan 30, 2025Yield to maturity4.201%Feb 4, 2025Yield to maturity4.219%Feb 7, 2025Yield to maturity4.289%Feb 12, 2025Yield to maturity4.376%Feb 18, 2025Yield to maturity4.309%Feb 21, 2025Yield to maturity4.207%Feb 26, 2025Yield to maturity4.085%Mar 3, 2025Yield to maturity3.980%Mar 6, 2025Yield to maturity3.998%Mar 11, 2025Yield to maturity3.962%Mar 14, 2025Yield to maturity4.033%Mar 19, 2025Yield to maturity3.997%Mar 24, 2025Yield to maturity4.052%Mar 27, 2025Yield to maturity4.034%Apr 1, 2025Yield to maturity3.906%Apr 4, 2025Yield to maturity3.740%Apr 9, 2025Yield to maturity3.979%Apr 14, 2025Yield to maturity3.904%Apr 17, 2025Yield to maturity3.866%Apr 22, 2025Yield to maturity3.865%Apr 25, 2025Yield to maturity3.826%Apr 30, 2025Yield to maturity3.654%May 5, 2025Yield to maturity3.901%May 8, 2025Yield to maturity3.958%May 13, 2025Yield to maturity4.075%May 16, 2025Yield to maturity4.037%May 21, 2025Yield to maturity4.057%May 27, 2025Yield to maturity4.037%May 30, 2025Yield to maturity3.998%Jun 4, 2025Yield to maturity3.957%Jun 9, 2025Yield to maturity4.080%Jun 12, 2025Yield to maturity3.978%Jun 17, 2025Yield to maturity4.019%Jun 23, 2025Yield to maturity3.915%Jun 26, 2025Yield to maturity3.831%Jul 1, 2025Yield to maturity3.893%Jul 7, 2025Yield to maturity3.999%Jul 10, 2025Yield to maturity3.978%Jul 15, 2025Yield to maturity4.043%Jul 18, 2025Yield to maturity3.978%Jul 23, 2025Yield to maturity3.999%Jul 28, 2025Yield to maturity4.021%Jul 31, 2025Yield to maturity4.066%Aug 5, 2025Yield to maturity3.819%Aug 8, 2025Yield to maturity3.862%Aug 13, 2025Yield to maturity3.770%Aug 18, 2025Yield to maturity3.859%Aug 21, 2025Yield to maturity3.882%Aug 26, 2025Yield to maturity3.787%Aug 29, 2025Yield to maturity3.761%Sep 4, 2025Yield to maturity3.735%Sep 9, 2025Yield to maturity3.661%Sep 12, 2025Yield to maturity3.657%Sep 17, 2025Yield to maturity3.631%Sep 22, 2025Yield to maturity3.676%Sep 25, 2025Yield to maturity3.748%Sep 30, 2025Yield to maturity3.696%Oct 3, 2025Yield to maturity3.642%Oct 8, 2025Yield to maturity3.665%Oct 14, 2025Yield to maturity3.558%Oct 17, 2025Yield to maturity3.553%Oct 22, 2025Yield to maturity3.524%Oct 27, 2025Yield to maturity3.572%Oct 30, 2025Yield to maturity3.676%Nov 4, 2025Yield to maturity3.672%Nov 7, 2025Yield to maturity3.641%Nov 13, 2025Yield to maturity3.666%Nov 18, 2025Yield to maturity3.662%Nov 21, 2025Yield to maturity3.602%Nov 26, 2025Yield to maturity3.598%Dec 2, 2025Yield to maturity3.623%Dec 5, 2025Yield to maturity3.618%Dec 10, 2025Yield to maturity3.586%Dec 15, 2025Yield to maturity3.552%Dec 18, 2025Yield to maturity3.519%Dec 23, 2025Yield to maturity3.574%Dec 29, 2025Yield to maturity3.537%Jan 2, 2026Yield to maturity3.530%Jan 7, 2026Yield to maturity3.496%Jan 12, 2026Yield to maturity3.553%Jan 15, 2026Yield to maturity3.582%Jan 21, 2026Yield to maturity3.574%Jan 26, 2026Yield to maturity3.568%Jan 29, 2026Yield to maturity3.564%Feb 3, 2026Yield to maturity3.591%Feb 6, 2026Yield to maturity3.550%Feb 11, 2026Yield to maturity3.546%Feb 17, 2026Yield to maturity3.537%Feb 20, 2026Yield to maturity3.566%Feb 25, 2026Yield to maturity3.598%Mar 2, 2026Yield to maturity3.591%Mar 5, 2026Yield to maturity3.661%Mar 10, 2026Yield to maturity3.656%Mar 13, 2026Yield to maturity3.688%Mar 18, 2026Yield to maturity3.723%Mar 23, 2026Yield to maturity3.797%Mar 26, 2026Yield to maturity3.835%Mar 31, 2026Yield to maturity3.751%Apr 3, 2026Yield to maturity3.788%Apr 8, 2026Yield to maturity3.744%Apr 13, 2026Yield to maturity3.739%Apr 16, 2026Yield to maturity3.736%Apr 21, 2026Yield to maturity3.732%Apr 24, 2026Yield to maturity3.682%Apr 29, 2026Yield to maturity3.768%May 4, 2026Yield to maturity3.764%May 7, 2026Yield to maturity3.715%May 12, 2026Yield to maturity3.757%May 15, 2026Yield to maturity3.752%May 20, 2026Yield to maturity3.798%May 26, 2026Yield to maturity3.793%May 29, 2026Yield to maturity3.789%Jun 3, 2026Yield to maturity3.786%Jun 8, 2026Yield to maturity3.835%Jun 11, 2026Yield to maturity3.833%Jun 16, 2026Yield to maturity3.830%Jun 22, 2026Yield to maturity3.996%Jun 25, 2026Yield to maturity3.939%Jun 30, 2026Yield to maturity3.997%Jul 6, 2026Yield to maturity3.937%Jul 9, 2026Yield to maturity3.999%Jul 14, 2026Yield to maturity3.936%Jul 17, 2026Yield to maturity3.867%Jul 22, 2026Yield to maturity3.997%Jul 27, 2026Yield to maturity3.994%Jul 30, 2026Yield to maturity3.923%Aug 4, 2026Yield to maturity3.919%Aug 7, 2026Yield to maturity3.915%Aug 12, 2026Yield to maturity3.912%Aug 17, 2026Yield to maturity3.830%Aug 20, 2026Yield to maturity3.905%Aug 25, 2026Yield to maturity3.900%Aug 28, 2026Yield to maturity3.895%Sep 2, 2026Yield to maturity3.892%Sep 8, 2026Yield to maturity3.885%Sep 9, 2026Yield to maturity3.884%

Price history

665 trading days to Sep 9, 2026

979899100101102Jan 16, 2024Sep 9, 2026Jan 16, 2024Close99.938Jan 19, 2024Close99.500Jan 24, 2024Close99.469Jan 29, 2024Close99.719Feb 1, 2024Close100.094Feb 6, 2024Close99.469Feb 9, 2024Close99.219Feb 14, 2024Close98.938Feb 20, 2024Close98.906Feb 23, 2024Close98.719Feb 28, 2024Close98.781Mar 4, 2024Close98.906Mar 7, 2024Close99.188Mar 12, 2024Close98.969Mar 15, 2024Close98.563Mar 20, 2024Close98.844Mar 25, 2024Close98.875Mar 28, 2024Close98.813Apr 2, 2024Close98.563Apr 5, 2024Close98.469Apr 10, 2024Close97.844Apr 15, 2024Close97.875Apr 18, 2024Close97.813Apr 23, 2024Close97.969Apr 26, 2024Close97.781May 1, 2024Close97.875May 6, 2024Close98.281May 9, 2024Close98.313May 14, 2024Close98.344May 17, 2024Close98.375May 22, 2024Close98.250May 28, 2024Close98.000May 31, 2024Close98.156Jun 5, 2024Close98.563Jun 10, 2024Close98.219Jun 13, 2024Close98.719Jun 18, 2024Close98.719Jun 24, 2024Close98.656Jun 27, 2024Close98.594Jul 2, 2024Close98.500Jul 8, 2024Close98.844Jul 11, 2024Close99.094Jul 16, 2024Close99.281Jul 19, 2024Close99.094Jul 24, 2024Close99.219Jul 29, 2024Close99.344Aug 1, 2024Close99.844Aug 6, 2024Close100.188Aug 9, 2024Close100.031Aug 14, 2024Close100.313Aug 19, 2024Close100.094Aug 22, 2024Close100.219Aug 27, 2024Close100.406Aug 30, 2024Close100.281Sep 5, 2024Close100.688Sep 10, 2024Close101.031Sep 13, 2024Close101.063Sep 18, 2024Close100.969Sep 23, 2024Close101.000Sep 26, 2024Close100.844Oct 1, 2024Close100.875Oct 4, 2024Close100.188Oct 9, 2024Close100.031Oct 15, 2024Close100.156Oct 18, 2024Close100.156Oct 23, 2024Close99.844Oct 28, 2024Close99.750Oct 31, 2024Close99.688Nov 5, 2024Close99.625Nov 8, 2024Close99.500Nov 14, 2024Close99.313Nov 19, 2024Close99.438Nov 22, 2024Close99.250Nov 27, 2024Close99.531Dec 3, 2024Close99.625Dec 6, 2024Close99.781Dec 11, 2024Close99.688Dec 16, 2024Close99.500Dec 19, 2024Close99.344Dec 24, 2024Close99.281Dec 30, 2024Close99.469Jan 3, 2025Close99.438Jan 8, 2025Close99.438Jan 13, 2025Close99.219Jan 16, 2025Close99.531Jan 22, 2025Close99.438Jan 27, 2025Close99.594Jan 30, 2025Close99.625Feb 4, 2025Close99.594Feb 7, 2025Close99.469Feb 12, 2025Close99.313Feb 18, 2025Close99.438Feb 21, 2025Close99.625Feb 26, 2025Close99.844Mar 3, 2025Close100.031Mar 6, 2025Close100.000Mar 11, 2025Close100.063Mar 14, 2025Close99.938Mar 19, 2025Close100.000Mar 24, 2025Close99.906Mar 27, 2025Close99.938Apr 1, 2025Close100.156Apr 4, 2025Close100.438Apr 9, 2025Close100.031Apr 14, 2025Close100.156Apr 17, 2025Close100.219Apr 22, 2025Close100.219Apr 25, 2025Close100.281Apr 30, 2025Close100.563May 5, 2025Close100.156May 8, 2025Close100.063May 13, 2025Close99.875May 16, 2025Close99.938May 21, 2025Close99.906May 27, 2025Close99.938May 30, 2025Close100.000Jun 4, 2025Close100.063Jun 9, 2025Close99.875Jun 12, 2025Close100.031Jun 17, 2025Close99.969Jun 23, 2025Close100.125Jun 26, 2025Close100.250Jul 1, 2025Close100.156Jul 7, 2025Close100.000Jul 10, 2025Close100.031Jul 15, 2025Close99.938Jul 18, 2025Close100.031Jul 23, 2025Close100.000Jul 28, 2025Close99.969Jul 31, 2025Close99.906Aug 5, 2025Close100.250Aug 8, 2025Close100.188Aug 13, 2025Close100.313Aug 18, 2025Close100.188Aug 21, 2025Close100.156Aug 26, 2025Close100.281Aug 29, 2025Close100.313Sep 4, 2025Close100.344Sep 9, 2025Close100.438Sep 12, 2025Close100.438Sep 17, 2025Close100.469Sep 22, 2025Close100.406Sep 25, 2025Close100.313Sep 30, 2025Close100.375Oct 3, 2025Close100.438Oct 8, 2025Close100.406Oct 14, 2025Close100.531Oct 17, 2025Close100.531Oct 22, 2025Close100.563Oct 27, 2025Close100.500Oct 30, 2025Close100.375Nov 4, 2025Close100.375Nov 7, 2025Close100.406Nov 13, 2025Close100.375Nov 18, 2025Close100.375Nov 21, 2025Close100.438Nov 26, 2025Close100.438Dec 2, 2025Close100.406Dec 5, 2025Close100.406Dec 10, 2025Close100.438Dec 15, 2025Close100.469Dec 18, 2025Close100.500Dec 23, 2025Close100.438Dec 29, 2025Close100.469Jan 2, 2026Close100.469Jan 7, 2026Close100.500Jan 12, 2026Close100.438Jan 15, 2026Close100.406Jan 21, 2026Close100.406Jan 26, 2026Close100.406Jan 29, 2026Close100.406Feb 3, 2026Close100.375Feb 6, 2026Close100.406Feb 11, 2026Close100.406Feb 17, 2026Close100.406Feb 20, 2026Close100.375Feb 25, 2026Close100.344Mar 2, 2026Close100.344Mar 5, 2026Close100.281Mar 10, 2026Close100.281Mar 13, 2026Close100.250Mar 18, 2026Close100.219Mar 23, 2026Close100.156Mar 26, 2026Close100.125Mar 31, 2026Close100.188Apr 3, 2026Close100.156Apr 8, 2026Close100.188Apr 13, 2026Close100.188Apr 16, 2026Close100.188Apr 21, 2026Close100.188Apr 24, 2026Close100.219Apr 29, 2026Close100.156May 4, 2026Close100.156May 7, 2026Close100.188May 12, 2026Close100.156May 15, 2026Close100.156May 20, 2026Close100.125May 26, 2026Close100.125May 29, 2026Close100.125Jun 3, 2026Close100.125Jun 8, 2026Close100.094Jun 11, 2026Close100.094Jun 16, 2026Close100.094Jun 22, 2026Close100.000Jun 25, 2026Close100.031Jun 30, 2026Close100.000Jul 6, 2026Close100.031Jul 9, 2026Close100.000Jul 14, 2026Close100.031Jul 17, 2026Close100.063Jul 22, 2026Close100.000Jul 27, 2026Close100.000Jul 30, 2026Close100.031Aug 4, 2026Close100.031Aug 7, 2026Close100.031Aug 12, 2026Close100.031Aug 17, 2026Close100.063Aug 20, 2026Close100.031Aug 25, 2026Close100.031Aug 28, 2026Close100.031Sep 2, 2026Close100.031Sep 8, 2026Close100.031Sep 9, 2026Close100.031
The most recent 20 trading days of prices for 91282CJT9.
DateBidOfferClose
Sep 9, 2026–100.000100.031
Sep 8, 2026–100.031100.031
Sep 4, 2026–100.031100.031
Sep 3, 2026–100.031100.031
Sep 2, 2026–100.031100.031
Sep 1, 2026–100.031100.031
Aug 31, 2026–100.031100.031
Aug 28, 2026–100.031100.031
Aug 27, 2026–100.031100.031
Aug 26, 2026–100.031100.031
Aug 25, 2026–100.063100.031
Aug 24, 2026–100.031100.031
Aug 21, 2026–100.031100.031
Aug 20, 2026–100.063100.031
Aug 19, 2026–100.063100.063
Aug 18, 2026–100.063100.063
Aug 17, 2026–100.063100.063
Aug 14, 2026–100.063100.063
Aug 13, 2026–100.063100.063
Aug 12, 2026–100.031100.031

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 91282CJT9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 9, 2024Jan 16, 2024New issue$52.0bn$52.0bn2.67x4.105%

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.