Treasury note

91282CKF7 · 4.125% due March 31, 2031

Original term
7-Year
Maturity
Mar 31, 2031
Coupon
4.125%
Pays
Semi-Annual
Dated
Mar 31, 2024
First coupon
Sep 30, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$42.35bn
Held stripped
$3.2m
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
4.601%
Modified duration
4.025 yr
DV01
0.0402
Convexity
19.333
Dirty price
99.900

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 4.116 years against a modified duration of 4.025.

Against the fitted curve

Priced 0.1 bp rich to the curve on that day, 0.48 cents per 100 of face.

That is -0.52 standard deviations from its own typical residual.

Yield to maturity, 612 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Apr 1, 2024Sep 9, 2026Apr 1, 2024Yield to maturity4.334%Apr 4, 2024Yield to maturity4.308%Apr 9, 2024Yield to maturity4.377%Apr 12, 2024Yield to maturity4.526%Apr 17, 2024Yield to maturity4.613%Apr 22, 2024Yield to maturity4.646%Apr 25, 2024Yield to maturity4.723%Apr 30, 2024Yield to maturity4.713%May 3, 2024Yield to maturity4.486%May 8, 2024Yield to maturity4.497%May 13, 2024Yield to maturity4.498%May 16, 2024Yield to maturity4.385%May 21, 2024Yield to maturity4.423%May 24, 2024Yield to maturity4.488%May 30, 2024Yield to maturity4.565%Jun 4, 2024Yield to maturity4.332%Jun 7, 2024Yield to maturity4.441%Jun 12, 2024Yield to maturity4.311%Jun 17, 2024Yield to maturity4.279%Jun 21, 2024Yield to maturity4.253%Jun 26, 2024Yield to maturity4.323%Jul 1, 2024Yield to maturity4.454%Jul 5, 2024Yield to maturity4.232%Jul 10, 2024Yield to maturity4.248%Jul 15, 2024Yield to maturity4.162%Jul 18, 2024Yield to maturity4.140%Jul 23, 2024Yield to maturity4.184%Jul 26, 2024Yield to maturity4.113%Jul 31, 2024Yield to maturity3.995%Aug 5, 2024Yield to maturity3.665%Aug 8, 2024Yield to maturity3.893%Aug 13, 2024Yield to maturity3.733%Aug 16, 2024Yield to maturity3.806%Aug 21, 2024Yield to maturity3.700%Aug 26, 2024Yield to maturity3.720%Aug 29, 2024Yield to maturity3.763%Sep 4, 2024Yield to maturity3.645%Sep 9, 2024Yield to maturity3.575%Sep 12, 2024Yield to maturity3.553%Sep 17, 2024Yield to maturity3.515%Sep 20, 2024Yield to maturity3.578%Sep 25, 2024Yield to maturity3.631%Sep 30, 2024Yield to maturity3.667%Oct 3, 2024Yield to maturity3.710%Oct 8, 2024Yield to maturity3.932%Oct 11, 2024Yield to maturity3.964%Oct 17, 2024Yield to maturity3.981%Oct 22, 2024Yield to maturity4.091%Oct 25, 2024Yield to maturity4.147%Oct 30, 2024Yield to maturity4.203%Nov 4, 2024Yield to maturity4.237%Nov 7, 2024Yield to maturity4.243%Nov 13, 2024Yield to maturity4.368%Nov 18, 2024Yield to maturity4.346%Nov 21, 2024Yield to maturity4.357%Nov 26, 2024Yield to maturity4.243%Dec 2, 2024Yield to maturity4.135%Dec 5, 2024Yield to maturity4.118%Dec 10, 2024Yield to maturity4.147%Dec 13, 2024Yield to maturity4.319%Dec 18, 2024Yield to maturity4.441%Dec 23, 2024Yield to maturity4.505%Dec 27, 2024Yield to maturity4.518%Jan 2, 2025Yield to maturity4.448%Jan 7, 2025Yield to maturity4.543%Jan 10, 2025Yield to maturity4.674%Jan 15, 2025Yield to maturity4.532%Jan 21, 2025Yield to maturity4.463%Jan 24, 2025Yield to maturity4.505%Jan 29, 2025Yield to maturity4.428%Feb 3, 2025Yield to maturity4.429%Feb 6, 2025Yield to maturity4.341%Feb 11, 2025Yield to maturity4.436%Feb 14, 2025Yield to maturity4.389%Feb 20, 2025Yield to maturity4.407%Feb 25, 2025Yield to maturity4.195%Feb 28, 2025Yield to maturity4.107%Mar 5, 2025Yield to maturity4.148%Mar 10, 2025Yield to maturity4.066%Mar 13, 2025Yield to maturity4.113%Mar 18, 2025Yield to maturity4.148%Mar 21, 2025Yield to maturity4.083%Mar 26, 2025Yield to maturity4.172%Mar 31, 2025Yield to maturity4.042%Apr 3, 2025Yield to maturity3.836%Apr 8, 2025Yield to maturity3.988%Apr 11, 2025Yield to maturity4.263%Apr 16, 2025Yield to maturity4.012%Apr 21, 2025Yield to maturity4.095%Apr 24, 2025Yield to maturity4.041%Apr 29, 2025Yield to maturity3.886%May 2, 2025Yield to maturity4.028%May 7, 2025Yield to maturity3.968%May 12, 2025Yield to maturity4.191%May 15, 2025Yield to maturity4.161%May 20, 2025Yield to maturity4.173%May 23, 2025Yield to maturity4.191%May 29, 2025Yield to maturity4.106%Jun 3, 2025Yield to maturity4.136%Jun 6, 2025Yield to maturity4.222%Jun 11, 2025Yield to maturity4.106%Jun 16, 2025Yield to maturity4.130%Jun 20, 2025Yield to maturity4.050%Jun 25, 2025Yield to maturity3.928%Jun 30, 2025Yield to maturity3.873%Jul 3, 2025Yield to maturity4.013%Jul 9, 2025Yield to maturity3.995%Jul 14, 2025Yield to maturity4.062%Jul 17, 2025Yield to maturity4.093%Jul 22, 2025Yield to maturity3.963%Jul 25, 2025Yield to maturity4.031%Jul 30, 2025Yield to maturity4.037%Aug 4, 2025Yield to maturity3.820%Aug 7, 2025Yield to maturity3.863%Aug 12, 2025Yield to maturity3.900%Aug 15, 2025Yield to maturity3.918%Aug 20, 2025Yield to maturity3.880%Aug 25, 2025Yield to maturity3.868%Aug 28, 2025Yield to maturity3.774%Sep 3, 2025Yield to maturity3.767%Sep 8, 2025Yield to maturity3.636%Sep 11, 2025Yield to maturity3.636%Sep 16, 2025Yield to maturity3.647%Sep 19, 2025Yield to maturity3.746%Sep 24, 2025Yield to maturity3.777%Sep 29, 2025Yield to maturity3.795%Oct 2, 2025Yield to maturity3.731%Oct 7, 2025Yield to maturity3.762%Oct 10, 2025Yield to maturity3.698%Oct 16, 2025Yield to maturity3.603%Oct 21, 2025Yield to maturity3.608%Oct 24, 2025Yield to maturity3.657%Oct 29, 2025Yield to maturity3.752%Nov 3, 2025Yield to maturity3.763%Nov 6, 2025Yield to maturity3.731%Nov 12, 2025Yield to maturity3.711%Nov 17, 2025Yield to maturity3.761%Nov 20, 2025Yield to maturity3.716%Nov 25, 2025Yield to maturity3.612%Dec 1, 2025Yield to maturity3.713%Dec 4, 2025Yield to maturity3.726%Dec 9, 2025Yield to maturity3.816%Dec 12, 2025Yield to maturity3.789%Dec 17, 2025Yield to maturity3.736%Dec 22, 2025Yield to maturity3.755%Dec 26, 2025Yield to maturity3.728%Dec 31, 2025Yield to maturity3.760%Jan 6, 2026Yield to maturity3.746%Jan 9, 2026Yield to maturity3.784%Jan 14, 2026Yield to maturity3.744%Jan 20, 2026Yield to maturity3.889%Jan 23, 2026Yield to maturity3.862%Jan 28, 2026Yield to maturity3.868%Feb 2, 2026Yield to maturity3.861%Feb 5, 2026Yield to maturity3.767%Feb 10, 2026Yield to maturity3.726%Feb 13, 2026Yield to maturity3.632%Feb 19, 2026Yield to maturity3.671%Feb 24, 2026Yield to maturity3.623%Feb 27, 2026Yield to maturity3.548%Mar 4, 2026Yield to maturity3.695%Mar 9, 2026Yield to maturity3.728%Mar 12, 2026Yield to maturity3.904%Mar 17, 2026Yield to maturity3.808%Mar 20, 2026Yield to maturity4.042%Mar 25, 2026Yield to maturity4.000%Mar 30, 2026Yield to maturity4.000%Apr 2, 2026Yield to maturity3.958%Apr 7, 2026Yield to maturity3.971%Apr 10, 2026Yield to maturity3.957%Apr 15, 2026Yield to maturity3.915%Apr 20, 2026Yield to maturity3.865%Apr 23, 2026Yield to maturity3.970%Apr 28, 2026Yield to maturity3.997%May 1, 2026Yield to maturity4.032%May 6, 2026Yield to maturity4.004%May 11, 2026Yield to maturity4.074%May 14, 2026Yield to maturity4.138%May 19, 2026Yield to maturity4.333%May 22, 2026Yield to maturity4.275%May 28, 2026Yield to maturity4.167%Jun 2, 2026Yield to maturity4.182%Jun 5, 2026Yield to maturity4.291%Jun 10, 2026Yield to maturity4.276%Jun 15, 2026Yield to maturity4.189%Jun 18, 2026Yield to maturity4.241%Jun 24, 2026Yield to maturity4.189%Jun 29, 2026Yield to maturity4.146%Jul 2, 2026Yield to maturity4.241%Jul 8, 2026Yield to maturity4.308%Jul 13, 2026Yield to maturity4.368%Jul 16, 2026Yield to maturity4.279%Jul 21, 2026Yield to maturity4.369%Jul 24, 2026Yield to maturity4.430%Jul 29, 2026Yield to maturity4.370%Aug 3, 2026Yield to maturity4.394%Aug 6, 2026Yield to maturity4.394%Aug 11, 2026Yield to maturity4.387%Aug 14, 2026Yield to maturity4.350%Aug 19, 2026Yield to maturity4.343%Aug 24, 2026Yield to maturity4.405%Aug 27, 2026Yield to maturity4.382%Sep 1, 2026Yield to maturity4.544%Sep 4, 2026Yield to maturity4.538%Sep 9, 2026Yield to maturity4.601%

Price history

612 trading days to Sep 9, 2026

9698100102104Apr 1, 2024Sep 9, 2026Apr 1, 2024Close98.750Apr 4, 2024Close98.906Apr 9, 2024Close98.500Apr 12, 2024Close97.625Apr 17, 2024Close97.125Apr 22, 2024Close96.938Apr 25, 2024Close96.500Apr 30, 2024Close96.563May 3, 2024Close97.875May 8, 2024Close97.813May 13, 2024Close97.813May 16, 2024Close98.469May 21, 2024Close98.250May 24, 2024Close97.875May 30, 2024Close97.438Jun 4, 2024Close98.781Jun 7, 2024Close98.156Jun 12, 2024Close98.906Jun 17, 2024Close99.094Jun 21, 2024Close99.250Jun 26, 2024Close98.844Jul 1, 2024Close98.094Jul 5, 2024Close99.375Jul 10, 2024Close99.281Jul 15, 2024Close99.781Jul 18, 2024Close99.906Jul 23, 2024Close99.656Jul 26, 2024Close100.063Jul 31, 2024Close100.750Aug 5, 2024Close102.688Aug 8, 2024Close101.344Aug 13, 2024Close102.281Aug 16, 2024Close101.844Aug 21, 2024Close102.469Aug 26, 2024Close102.344Aug 29, 2024Close102.094Sep 4, 2024Close102.781Sep 9, 2024Close103.188Sep 12, 2024Close103.313Sep 17, 2024Close103.531Sep 20, 2024Close103.156Sep 25, 2024Close102.844Sep 30, 2024Close102.625Oct 3, 2024Close102.375Oct 8, 2024Close101.094Oct 11, 2024Close100.906Oct 17, 2024Close100.813Oct 22, 2024Close100.188Oct 25, 2024Close99.875Oct 30, 2024Close99.563Nov 4, 2024Close99.375Nov 7, 2024Close99.344Nov 13, 2024Close98.656Nov 18, 2024Close98.781Nov 21, 2024Close98.719Nov 26, 2024Close99.344Dec 2, 2024Close99.938Dec 5, 2024Close100.031Dec 10, 2024Close99.875Dec 13, 2024Close98.938Dec 18, 2024Close98.281Dec 23, 2024Close97.938Dec 27, 2024Close97.875Jan 2, 2025Close98.250Jan 7, 2025Close97.750Jan 10, 2025Close97.063Jan 15, 2025Close97.813Jan 21, 2025Close98.188Jan 24, 2025Close97.969Jan 29, 2025Close98.375Feb 3, 2025Close98.375Feb 6, 2025Close98.844Feb 11, 2025Close98.344Feb 14, 2025Close98.594Feb 20, 2025Close98.500Feb 25, 2025Close99.625Feb 28, 2025Close100.094Mar 5, 2025Close99.875Mar 10, 2025Close100.313Mar 13, 2025Close100.063Mar 18, 2025Close99.875Mar 21, 2025Close100.219Mar 26, 2025Close99.750Mar 31, 2025Close100.438Apr 3, 2025Close101.531Apr 8, 2025Close100.719Apr 11, 2025Close99.281Apr 16, 2025Close100.594Apr 21, 2025Close100.156Apr 24, 2025Close100.438Apr 29, 2025Close101.250May 2, 2025Close100.500May 7, 2025Close100.813May 12, 2025Close99.656May 15, 2025Close99.813May 20, 2025Close99.750May 23, 2025Close99.656May 29, 2025Close100.094Jun 3, 2025Close99.938Jun 6, 2025Close99.500Jun 11, 2025Close100.094Jun 16, 2025Close99.969Jun 20, 2025Close100.375Jun 25, 2025Close101.000Jun 30, 2025Close101.281Jul 3, 2025Close100.563Jul 9, 2025Close100.656Jul 14, 2025Close100.313Jul 17, 2025Close100.156Jul 22, 2025Close100.813Jul 25, 2025Close100.469Jul 30, 2025Close100.438Aug 4, 2025Close101.531Aug 7, 2025Close101.313Aug 12, 2025Close101.125Aug 15, 2025Close101.031Aug 20, 2025Close101.219Aug 25, 2025Close101.281Aug 28, 2025Close101.750Sep 3, 2025Close101.781Sep 8, 2025Close102.438Sep 11, 2025Close102.438Sep 16, 2025Close102.375Sep 19, 2025Close101.875Sep 24, 2025Close101.719Sep 29, 2025Close101.625Oct 2, 2025Close101.938Oct 7, 2025Close101.781Oct 10, 2025Close102.094Oct 16, 2025Close102.563Oct 21, 2025Close102.531Oct 24, 2025Close102.281Oct 29, 2025Close101.813Nov 3, 2025Close101.750Nov 6, 2025Close101.906Nov 12, 2025Close102.000Nov 17, 2025Close101.750Nov 20, 2025Close101.969Nov 25, 2025Close102.469Dec 1, 2025Close101.969Dec 4, 2025Close101.906Dec 9, 2025Close101.469Dec 12, 2025Close101.594Dec 17, 2025Close101.844Dec 22, 2025Close101.750Dec 26, 2025Close101.875Dec 31, 2025Close101.719Jan 6, 2026Close101.781Jan 9, 2026Close101.594Jan 14, 2026Close101.781Jan 20, 2026Close101.094Jan 23, 2026Close101.219Jan 28, 2026Close101.188Feb 2, 2026Close101.219Feb 5, 2026Close101.656Feb 10, 2026Close101.844Feb 13, 2026Close102.281Feb 19, 2026Close102.094Feb 24, 2026Close102.313Feb 27, 2026Close102.656Mar 4, 2026Close101.969Mar 9, 2026Close101.813Mar 12, 2026Close101.000Mar 17, 2026Close101.438Mar 20, 2026Close100.375Mar 25, 2026Close100.563Mar 30, 2026Close100.563Apr 2, 2026Close100.750Apr 7, 2026Close100.688Apr 10, 2026Close100.750Apr 15, 2026Close100.938Apr 20, 2026Close101.156Apr 23, 2026Close100.688Apr 28, 2026Close100.563May 1, 2026Close100.406May 6, 2026Close100.531May 11, 2026Close100.219May 14, 2026Close99.938May 19, 2026Close99.094May 22, 2026Close99.344May 28, 2026Close99.813Jun 2, 2026Close99.750Jun 5, 2026Close99.281Jun 10, 2026Close99.344Jun 15, 2026Close99.719Jun 18, 2026Close99.500Jun 24, 2026Close99.719Jun 29, 2026Close99.906Jul 2, 2026Close99.500Jul 8, 2026Close99.219Jul 13, 2026Close98.969Jul 16, 2026Close99.344Jul 21, 2026Close98.969Jul 24, 2026Close98.719Jul 29, 2026Close98.969Aug 3, 2026Close98.875Aug 6, 2026Close98.875Aug 11, 2026Close98.906Aug 14, 2026Close99.063Aug 19, 2026Close99.094Aug 24, 2026Close98.844Aug 27, 2026Close98.938Sep 1, 2026Close98.281Sep 4, 2026Close98.313Sep 9, 2026Close98.063
The most recent 20 trading days of prices for 91282CKF7.
DateBidOfferClose
Sep 9, 202698.07898.06398.063
Sep 8, 202698.26698.25098.219
Sep 4, 202698.35998.34498.313
Sep 3, 202698.53198.50098.438
Sep 2, 202698.29798.28198.281
Sep 1, 202698.39198.37598.281
Aug 31, 202698.51698.50098.500
Aug 28, 202698.65698.62598.531
Aug 27, 202699.01699.00098.938
Aug 26, 202699.01699.00098.969
Aug 25, 202699.07899.06399.094
Aug 24, 202698.93898.90698.844
Aug 21, 202698.79798.78198.781
Aug 20, 202698.95398.93898.969
Aug 19, 202699.07899.06399.094
Aug 18, 202699.01699.00099.031
Aug 17, 202699.04799.03199.000
Aug 14, 202699.14199.12599.063
Aug 13, 202699.23499.21999.219
Aug 12, 202699.07899.06399.000

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 91282CKF7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 27, 2024Apr 1, 2024New issue$43.0bn$43.0bn2.61x4.185%

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.