Treasury note

91282CKQ3 · 4.375% due May 15, 2034

Original term
10-Year
Maturity
May 15, 2034
Coupon
4.375%
Pays
Semi-Annual
Dated
May 15, 2024
First coupon
Nov 15, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$132.76bn
Held stripped
$78.3m
Share stripped
0.06%

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
4.752%
Modified duration
6.346 yr
DV01
0.0628
Convexity
48.038
Dirty price
98.997

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 6.491 years against a modified duration of 6.346.

Against the fitted curve

Priced 3.2 bp cheap to the curve on that day, 20.19 cents per 100 of face.

That is 1.36 standard deviations from its own typical residual.

Yield to maturity, 580 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%May 15, 2024Sep 9, 2026May 15, 2024Yield to maturity4.356%May 20, 2024Yield to maturity4.441%May 23, 2024Yield to maturity4.473%May 29, 2024Yield to maturity4.612%Jun 3, 2024Yield to maturity4.406%Jun 6, 2024Yield to maturity4.281%Jun 11, 2024Yield to maturity4.394%Jun 14, 2024Yield to maturity4.207%Jun 20, 2024Yield to maturity4.250%Jun 25, 2024Yield to maturity4.230%Jun 28, 2024Yield to maturity4.355%Jul 3, 2024Yield to maturity4.359%Jul 9, 2024Yield to maturity4.296%Jul 12, 2024Yield to maturity4.179%Jul 17, 2024Yield to maturity4.152%Jul 22, 2024Yield to maturity4.256%Jul 25, 2024Yield to maturity4.260%Jul 30, 2024Yield to maturity4.139%Aug 2, 2024Yield to maturity3.792%Aug 7, 2024Yield to maturity3.966%Aug 12, 2024Yield to maturity3.908%Aug 15, 2024Yield to maturity3.919%Aug 20, 2024Yield to maturity3.820%Aug 23, 2024Yield to maturity3.808%Aug 28, 2024Yield to maturity3.846%Sep 3, 2024Yield to maturity3.838%Sep 6, 2024Yield to maturity3.716%Sep 11, 2024Yield to maturity3.648%Sep 16, 2024Yield to maturity3.621%Sep 19, 2024Yield to maturity3.722%Sep 24, 2024Yield to maturity3.725%Sep 27, 2024Yield to maturity3.739%Oct 2, 2024Yield to maturity3.777%Oct 7, 2024Yield to maturity4.019%Oct 10, 2024Yield to maturity4.085%Oct 16, 2024Yield to maturity4.014%Oct 21, 2024Yield to maturity4.175%Oct 24, 2024Yield to maturity4.203%Oct 29, 2024Yield to maturity4.274%Nov 1, 2024Yield to maturity4.367%Nov 6, 2024Yield to maturity4.436%Nov 12, 2024Yield to maturity4.444%Nov 15, 2024Yield to maturity4.432%Nov 20, 2024Yield to maturity4.416%Nov 25, 2024Yield to maturity4.270%Nov 29, 2024Yield to maturity4.185%Dec 4, 2024Yield to maturity4.189%Dec 9, 2024Yield to maturity4.197%Dec 12, 2024Yield to maturity4.326%Dec 17, 2024Yield to maturity4.395%Dec 20, 2024Yield to maturity4.519%Dec 26, 2024Yield to maturity4.573%Dec 31, 2024Yield to maturity4.573%Jan 6, 2025Yield to maturity4.615%Jan 9, 2025Yield to maturity4.687%Jan 14, 2025Yield to maturity4.781%Jan 17, 2025Yield to maturity4.603%Jan 23, 2025Yield to maturity4.633%Jan 28, 2025Yield to maturity4.532%Jan 31, 2025Yield to maturity4.566%Feb 5, 2025Yield to maturity4.407%Feb 10, 2025Yield to maturity4.491%Feb 13, 2025Yield to maturity4.520%Feb 19, 2025Yield to maturity4.525%Feb 24, 2025Yield to maturity4.391%Feb 27, 2025Yield to maturity4.275%Mar 4, 2025Yield to maturity4.209%Mar 7, 2025Yield to maturity4.304%Mar 12, 2025Yield to maturity4.304%Mar 17, 2025Yield to maturity4.295%Mar 20, 2025Yield to maturity4.217%Mar 25, 2025Yield to maturity4.291%Mar 28, 2025Yield to maturity4.241%Apr 2, 2025Yield to maturity4.175%Apr 7, 2025Yield to maturity4.109%Apr 10, 2025Yield to maturity4.375%Apr 15, 2025Yield to maturity4.307%Apr 18, 2025Yield to maturity4.299%Apr 23, 2025Yield to maturity4.362%Apr 28, 2025Yield to maturity4.186%May 1, 2025Yield to maturity4.195%May 6, 2025Yield to maturity4.270%May 9, 2025Yield to maturity4.337%May 14, 2025Yield to maturity4.494%May 19, 2025Yield to maturity4.413%May 22, 2025Yield to maturity4.494%May 28, 2025Yield to maturity4.426%Jun 2, 2025Yield to maturity4.400%Jun 5, 2025Yield to maturity4.341%Jun 10, 2025Yield to maturity4.417%Jun 13, 2025Yield to maturity4.357%Jun 18, 2025Yield to maturity4.323%Jun 24, 2025Yield to maturity4.226%Jun 27, 2025Yield to maturity4.213%Jul 2, 2025Yield to maturity4.225%Jul 8, 2025Yield to maturity4.344%Jul 11, 2025Yield to maturity4.357%Jul 16, 2025Yield to maturity4.379%Jul 21, 2025Yield to maturity4.297%Jul 24, 2025Yield to maturity4.340%Jul 29, 2025Yield to maturity4.250%Aug 1, 2025Yield to maturity4.139%Aug 6, 2025Yield to maturity4.139%Aug 11, 2025Yield to maturity4.181%Aug 14, 2025Yield to maturity4.189%Aug 19, 2025Yield to maturity4.198%Aug 22, 2025Yield to maturity4.146%Aug 27, 2025Yield to maturity4.125%Sep 2, 2025Yield to maturity4.158%Sep 5, 2025Yield to maturity3.971%Sep 10, 2025Yield to maturity3.929%Sep 15, 2025Yield to maturity3.928%Sep 18, 2025Yield to maturity3.995%Sep 23, 2025Yield to maturity4.008%Sep 26, 2025Yield to maturity4.088%Oct 1, 2025Yield to maturity4.011%Oct 6, 2025Yield to maturity4.071%Oct 9, 2025Yield to maturity4.049%Oct 15, 2025Yield to maturity3.942%Oct 20, 2025Yield to maturity3.890%Oct 23, 2025Yield to maturity3.899%Oct 28, 2025Yield to maturity3.889%Oct 31, 2025Yield to maturity4.004%Nov 5, 2025Yield to maturity4.064%Nov 10, 2025Yield to maturity4.016%Nov 14, 2025Yield to maturity4.038%Nov 19, 2025Yield to maturity4.011%Nov 24, 2025Yield to maturity3.916%Nov 28, 2025Yield to maturity3.894%Dec 3, 2025Yield to maturity3.932%Dec 8, 2025Yield to maturity4.053%Dec 11, 2025Yield to maturity4.022%Dec 16, 2025Yield to maturity4.017%Dec 19, 2025Yield to maturity4.025%Dec 24, 2025Yield to maturity4.029%Dec 30, 2025Yield to maturity4.007%Jan 5, 2026Yield to maturity4.037%Jan 8, 2026Yield to maturity4.063%Jan 13, 2026Yield to maturity4.053%Jan 16, 2026Yield to maturity4.119%Jan 22, 2026Yield to maturity4.141%Jan 27, 2026Yield to maturity4.123%Jan 30, 2026Yield to maturity4.127%Feb 4, 2026Yield to maturity4.163%Feb 9, 2026Yield to maturity4.078%Feb 12, 2026Yield to maturity3.980%Feb 18, 2026Yield to maturity3.962%Feb 23, 2026Yield to maturity3.899%Feb 26, 2026Yield to maturity3.886%Mar 3, 2026Yield to maturity3.925%Mar 6, 2026Yield to maturity4.017%Mar 11, 2026Yield to maturity4.080%Mar 16, 2026Yield to maturity4.093%Mar 19, 2026Yield to maturity4.142%Mar 24, 2026Yield to maturity4.287%Mar 27, 2026Yield to maturity4.338%Apr 1, 2026Yield to maturity4.228%Apr 6, 2026Yield to maturity4.237%Apr 9, 2026Yield to maturity4.182%Apr 14, 2026Yield to maturity4.141%Apr 17, 2026Yield to maturity4.127%Apr 22, 2026Yield to maturity4.177%Apr 27, 2026Yield to maturity4.218%Apr 30, 2026Yield to maturity4.273%May 5, 2026Yield to maturity4.310%May 8, 2026Yield to maturity4.254%May 13, 2026Yield to maturity4.356%May 18, 2026Yield to maturity4.502%May 21, 2026Yield to maturity4.469%May 27, 2026Yield to maturity4.379%Jun 1, 2026Yield to maturity4.379%Jun 4, 2026Yield to maturity4.379%Jun 9, 2026Yield to maturity4.441%Jun 12, 2026Yield to maturity4.398%Jun 17, 2026Yield to maturity4.417%Jun 23, 2026Yield to maturity4.422%Jun 26, 2026Yield to maturity4.294%Jul 1, 2026Yield to maturity4.398%Jul 7, 2026Yield to maturity4.450%Jul 10, 2026Yield to maturity4.474%Jul 15, 2026Yield to maturity4.446%Jul 20, 2026Yield to maturity4.499%Jul 23, 2026Yield to maturity4.620%Jul 28, 2026Yield to maturity4.518%Jul 31, 2026Yield to maturity4.640%Aug 5, 2026Yield to maturity4.518%Aug 10, 2026Yield to maturity4.606%Aug 13, 2026Yield to maturity4.524%Aug 18, 2026Yield to maturity4.582%Aug 21, 2026Yield to maturity4.622%Aug 26, 2026Yield to maturity4.553%Aug 31, 2026Yield to maturity4.657%Sep 3, 2026Yield to maturity4.672%Sep 9, 2026Yield to maturity4.752%

Price history

580 trading days to Sep 9, 2026

9698100102104106108May 15, 2024Sep 9, 2026May 15, 2024Close100.156May 20, 2024Close99.469May 23, 2024Close99.219May 29, 2024Close98.125Jun 3, 2024Close99.750Jun 6, 2024Close100.750Jun 11, 2024Close99.844Jun 14, 2024Close101.344Jun 20, 2024Close101.000Jun 25, 2024Close101.156Jun 28, 2024Close100.156Jul 3, 2024Close100.125Jul 9, 2024Close100.625Jul 12, 2024Close101.563Jul 17, 2024Close101.781Jul 22, 2024Close100.938Jul 25, 2024Close100.906Jul 30, 2024Close101.875Aug 2, 2024Close104.719Aug 7, 2024Close103.281Aug 12, 2024Close103.750Aug 15, 2024Close103.656Aug 20, 2024Close104.469Aug 23, 2024Close104.563Aug 28, 2024Close104.250Sep 3, 2024Close104.313Sep 6, 2024Close105.313Sep 11, 2024Close105.875Sep 16, 2024Close106.094Sep 19, 2024Close105.250Sep 24, 2024Close105.219Sep 27, 2024Close105.094Oct 2, 2024Close104.781Oct 7, 2024Close102.813Oct 10, 2024Close102.281Oct 16, 2024Close102.844Oct 21, 2024Close101.563Oct 24, 2024Close101.344Oct 29, 2024Close100.781Nov 1, 2024Close100.063Nov 6, 2024Close99.531Nov 12, 2024Close99.469Nov 15, 2024Close99.563Nov 20, 2024Close99.688Nov 25, 2024Close100.813Nov 29, 2024Close101.469Dec 4, 2024Close101.438Dec 9, 2024Close101.375Dec 12, 2024Close100.375Dec 17, 2024Close99.844Dec 20, 2024Close98.906Dec 26, 2024Close98.500Dec 31, 2024Close98.500Jan 6, 2025Close98.188Jan 9, 2025Close97.656Jan 14, 2025Close96.969Jan 17, 2025Close98.281Jan 23, 2025Close98.063Jan 28, 2025Close98.813Jan 31, 2025Close98.563Feb 5, 2025Close99.750Feb 10, 2025Close99.125Feb 13, 2025Close98.906Feb 19, 2025Close98.875Feb 24, 2025Close99.875Feb 27, 2025Close100.750Mar 4, 2025Close101.250Mar 7, 2025Close100.531Mar 12, 2025Close100.531Mar 17, 2025Close100.594Mar 20, 2025Close101.188Mar 25, 2025Close100.625Mar 28, 2025Close101.000Apr 2, 2025Close101.500Apr 7, 2025Close102.000Apr 10, 2025Close100.000Apr 15, 2025Close100.500Apr 18, 2025Close100.563Apr 23, 2025Close100.094Apr 28, 2025Close101.406May 1, 2025Close101.344May 6, 2025Close100.781May 9, 2025Close100.281May 14, 2025Close99.125May 19, 2025Close99.719May 22, 2025Close99.125May 28, 2025Close99.625Jun 2, 2025Close99.813Jun 5, 2025Close100.250Jun 10, 2025Close99.688Jun 13, 2025Close100.125Jun 18, 2025Close100.375Jun 24, 2025Close101.094Jun 27, 2025Close101.188Jul 2, 2025Close101.094Jul 8, 2025Close100.219Jul 11, 2025Close100.125Jul 16, 2025Close99.969Jul 21, 2025Close100.563Jul 24, 2025Close100.250Jul 29, 2025Close100.906Aug 1, 2025Close101.719Aug 6, 2025Close101.719Aug 11, 2025Close101.406Aug 14, 2025Close101.344Aug 19, 2025Close101.281Aug 22, 2025Close101.656Aug 27, 2025Close101.813Sep 2, 2025Close101.563Sep 5, 2025Close102.938Sep 10, 2025Close103.250Sep 15, 2025Close103.250Sep 18, 2025Close102.750Sep 23, 2025Close102.656Sep 26, 2025Close102.063Oct 1, 2025Close102.625Oct 6, 2025Close102.188Oct 9, 2025Close102.344Oct 15, 2025Close103.125Oct 20, 2025Close103.500Oct 23, 2025Close103.438Oct 28, 2025Close103.500Oct 31, 2025Close102.656Nov 5, 2025Close102.219Nov 10, 2025Close102.563Nov 14, 2025Close102.406Nov 19, 2025Close102.594Nov 24, 2025Close103.281Nov 28, 2025Close103.438Dec 3, 2025Close103.156Dec 8, 2025Close102.281Dec 11, 2025Close102.500Dec 16, 2025Close102.531Dec 19, 2025Close102.469Dec 24, 2025Close102.438Dec 30, 2025Close102.594Jan 5, 2026Close102.375Jan 8, 2026Close102.188Jan 13, 2026Close102.250Jan 16, 2026Close101.781Jan 22, 2026Close101.625Jan 27, 2026Close101.750Jan 30, 2026Close101.719Feb 4, 2026Close101.469Feb 9, 2026Close102.063Feb 12, 2026Close102.750Feb 18, 2026Close102.875Feb 23, 2026Close103.313Feb 26, 2026Close103.406Mar 3, 2026Close103.125Mar 6, 2026Close102.469Mar 11, 2026Close102.031Mar 16, 2026Close101.938Mar 19, 2026Close101.594Mar 24, 2026Close100.594Mar 27, 2026Close100.250Apr 1, 2026Close101.000Apr 6, 2026Close100.938Apr 9, 2026Close101.313Apr 14, 2026Close101.594Apr 17, 2026Close101.688Apr 22, 2026Close101.344Apr 27, 2026Close101.063Apr 30, 2026Close100.688May 5, 2026Close100.438May 8, 2026Close100.813May 13, 2026Close100.125May 18, 2026Close99.156May 21, 2026Close99.375May 27, 2026Close99.969Jun 1, 2026Close99.969Jun 4, 2026Close99.969Jun 9, 2026Close99.563Jun 12, 2026Close99.844Jun 17, 2026Close99.719Jun 23, 2026Close99.688Jun 26, 2026Close100.531Jul 1, 2026Close99.844Jul 7, 2026Close99.500Jul 10, 2026Close99.344Jul 15, 2026Close99.531Jul 20, 2026Close99.188Jul 23, 2026Close98.406Jul 28, 2026Close99.063Jul 31, 2026Close98.281Aug 5, 2026Close99.063Aug 10, 2026Close98.500Aug 13, 2026Close99.031Aug 18, 2026Close98.656Aug 21, 2026Close98.406Aug 26, 2026Close98.844Aug 31, 2026Close98.188Sep 3, 2026Close98.094Sep 9, 2026Close97.594
The most recent 20 trading days of prices for 91282CKQ3.
DateBidOfferClose
Sep 9, 202697.54797.53197.594
Sep 8, 202697.89197.87597.844
Sep 4, 202698.01698.00097.969
Sep 3, 202698.23498.21998.094
Sep 2, 202697.89197.87597.906
Sep 1, 202698.07898.06397.906
Aug 31, 202698.17298.15698.188
Aug 28, 202698.51698.50098.313
Aug 27, 202698.89198.87598.750
Aug 26, 202698.90698.90698.844
Aug 25, 202698.98498.96999.031
Aug 24, 202698.70398.68898.594
Aug 21, 202698.42298.40698.406
Aug 20, 202698.67298.65698.688
Aug 19, 202698.89198.87598.969
Aug 18, 202698.64198.62598.656
Aug 17, 202698.70398.68898.563
Aug 14, 202698.82898.81398.750
Aug 13, 202699.04799.03199.031
Aug 12, 202698.79798.78198.719

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 91282CKQ3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 8, 2024May 15, 2024New issue$42.0bn$47.3bn2.49x4.483%
Jun 11, 2024Jun 17, 2024Reopening$39.0bn$40.3bn2.67x4.438%
Jul 10, 2024Jul 15, 2024Reopening$39.0bn$45.3bn2.58x4.276%

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.