Treasury note

91282CKR1 · 4.5% due May 15, 2027

Original term
3-Year
Maturity
May 15, 2027
Coupon
4.500%
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
$58.30bn
Held stripped
$9.3m
Share stripped
0.02%

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
4.115%
Modified duration
0.655 yr
DV01
0.0067
Convexity
0.755
Dirty price
101.693

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 3 of twelve buckets, summing to 0.666 years against a modified duration of 0.655.

Against the fitted curve

Priced 0.1 bp rich to the curve on that day, 0.05 cents per 100 of face.

That is -0.19 standard deviations from its own typical residual.

Yield to maturity, 580 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%May 15, 2024Sep 9, 2026May 15, 2024Yield to maturity4.511%May 20, 2024Yield to maturity4.624%May 23, 2024Yield to maturity4.716%May 29, 2024Yield to maturity4.797%Jun 3, 2024Yield to maturity4.625%Jun 6, 2024Yield to maturity4.499%Jun 11, 2024Yield to maturity4.614%Jun 14, 2024Yield to maturity4.452%Jun 20, 2024Yield to maturity4.487%Jun 25, 2024Yield to maturity4.487%Jun 28, 2024Yield to maturity4.545%Jul 3, 2024Yield to maturity4.522%Jul 9, 2024Yield to maturity4.439%Jul 12, 2024Yield to maturity4.262%Jul 17, 2024Yield to maturity4.237%Jul 22, 2024Yield to maturity4.331%Jul 25, 2024Yield to maturity4.295%Jul 30, 2024Yield to maturity4.210%Aug 2, 2024Yield to maturity3.733%Aug 7, 2024Yield to maturity3.885%Aug 12, 2024Yield to maturity3.882%Aug 15, 2024Yield to maturity3.941%Aug 20, 2024Yield to maturity3.842%Aug 23, 2024Yield to maturity3.778%Aug 28, 2024Yield to maturity3.776%Sep 3, 2024Yield to maturity3.772%Sep 6, 2024Yield to maturity3.574%Sep 11, 2024Yield to maturity3.523%Sep 16, 2024Yield to maturity3.469%Sep 19, 2024Yield to maturity3.515%Sep 24, 2024Yield to maturity3.474%Sep 27, 2024Yield to maturity3.518%Oct 2, 2024Yield to maturity3.578%Oct 7, 2024Yield to maturity3.938%Oct 10, 2024Yield to maturity3.936%Oct 16, 2024Yield to maturity3.882%Oct 21, 2024Yield to maturity3.982%Oct 24, 2024Yield to maturity4.032%Oct 29, 2024Yield to maturity4.094%Nov 1, 2024Yield to maturity4.197%Nov 6, 2024Yield to maturity4.249%Nov 12, 2024Yield to maturity4.327%Nov 15, 2024Yield to maturity4.286%Nov 20, 2024Yield to maturity4.285%Nov 25, 2024Yield to maturity4.244%Nov 29, 2024Yield to maturity4.134%Dec 4, 2024Yield to maturity4.119%Dec 9, 2024Yield to maturity4.117%Dec 12, 2024Yield to maturity4.184%Dec 17, 2024Yield to maturity4.250%Dec 20, 2024Yield to maturity4.318%Dec 26, 2024Yield to maturity4.359%Dec 31, 2024Yield to maturity4.274%Jan 6, 2025Yield to maturity4.300%Jan 9, 2025Yield to maturity4.314%Jan 14, 2025Yield to maturity4.412%Jan 17, 2025Yield to maturity4.311%Jan 23, 2025Yield to maturity4.325%Jan 28, 2025Yield to maturity4.223%Jan 31, 2025Yield to maturity4.250%Feb 5, 2025Yield to maturity4.206%Feb 10, 2025Yield to maturity4.292%Feb 13, 2025Yield to maturity4.335%Feb 19, 2025Yield to maturity4.290%Feb 24, 2025Yield to maturity4.184%Feb 27, 2025Yield to maturity4.079%Mar 4, 2025Yield to maturity3.972%Mar 7, 2025Yield to maturity3.999%Mar 12, 2025Yield to maturity4.013%Mar 17, 2025Yield to maturity4.070%Mar 20, 2025Yield to maturity3.962%Mar 25, 2025Yield to maturity4.005%Mar 28, 2025Yield to maturity3.925%Apr 2, 2025Yield to maturity3.923%Apr 7, 2025Yield to maturity3.734%Apr 10, 2025Yield to maturity3.871%Apr 15, 2025Yield to maturity3.867%Apr 18, 2025Yield to maturity3.832%Apr 23, 2025Yield to maturity3.893%Apr 28, 2025Yield to maturity3.698%May 1, 2025Yield to maturity3.727%May 6, 2025Yield to maturity3.819%May 9, 2025Yield to maturity3.912%May 14, 2025Yield to maturity4.073%May 19, 2025Yield to maturity3.988%May 22, 2025Yield to maturity4.018%May 28, 2025Yield to maturity4.014%Jun 2, 2025Yield to maturity3.961%Jun 5, 2025Yield to maturity3.958%Jun 10, 2025Yield to maturity4.039%Jun 13, 2025Yield to maturity3.967%Jun 18, 2025Yield to maturity3.947%Jun 24, 2025Yield to maturity3.823%Jun 27, 2025Yield to maturity3.784%Jul 2, 2025Yield to maturity3.832%Jul 8, 2025Yield to maturity3.949%Jul 11, 2025Yield to maturity3.928%Jul 16, 2025Yield to maturity3.925%Jul 21, 2025Yield to maturity3.885%Jul 24, 2025Yield to maturity3.954%Jul 29, 2025Yield to maturity3.914%Aug 1, 2025Yield to maturity3.746%Aug 6, 2025Yield to maturity3.743%Aug 11, 2025Yield to maturity3.792%Aug 14, 2025Yield to maturity3.771%Aug 19, 2025Yield to maturity3.784%Aug 22, 2025Yield to maturity3.741%Aug 27, 2025Yield to maturity3.700%Sep 2, 2025Yield to maturity3.712%Sep 5, 2025Yield to maturity3.572%Sep 10, 2025Yield to maturity3.606%Sep 15, 2025Yield to maturity3.580%Sep 18, 2025Yield to maturity3.595%Sep 23, 2025Yield to maturity3.627%Sep 26, 2025Yield to maturity3.699%Oct 1, 2025Yield to maturity3.596%Oct 6, 2025Yield to maturity3.649%Oct 9, 2025Yield to maturity3.625%Oct 15, 2025Yield to maturity3.555%Oct 20, 2025Yield to maturity3.507%Oct 23, 2025Yield to maturity3.523%Oct 28, 2025Yield to maturity3.535%Oct 31, 2025Yield to maturity3.653%Nov 5, 2025Yield to maturity3.670%Nov 10, 2025Yield to maturity3.619%Nov 14, 2025Yield to maturity3.654%Nov 19, 2025Yield to maturity3.628%Nov 24, 2025Yield to maturity3.554%Nov 28, 2025Yield to maturity3.566%Dec 3, 2025Yield to maturity3.538%Dec 8, 2025Yield to maturity3.618%Dec 11, 2025Yield to maturity3.568%Dec 16, 2025Yield to maturity3.514%Dec 19, 2025Yield to maturity3.504%Dec 24, 2025Yield to maturity3.542%Dec 30, 2025Yield to maturity3.486%Jan 5, 2026Yield to maturity3.474%Jan 8, 2026Yield to maturity3.515%Jan 13, 2026Yield to maturity3.553%Jan 16, 2026Yield to maturity3.590%Jan 22, 2026Yield to maturity3.609%Jan 27, 2026Yield to maturity3.575%Jan 30, 2026Yield to maturity3.540%Feb 4, 2026Yield to maturity3.584%Feb 9, 2026Yield to maturity3.499%Feb 12, 2026Yield to maturity3.518%Feb 18, 2026Yield to maturity3.531%Feb 23, 2026Yield to maturity3.520%Feb 26, 2026Yield to maturity3.540%Mar 3, 2026Yield to maturity3.583%Mar 6, 2026Yield to maturity3.626%Mar 11, 2026Yield to maturity3.675%Mar 16, 2026Yield to maturity3.720%Mar 19, 2026Yield to maturity3.826%Mar 24, 2026Yield to maturity3.959%Mar 27, 2026Yield to maturity3.924%Apr 1, 2026Yield to maturity3.805%Apr 6, 2026Yield to maturity3.826%Apr 9, 2026Yield to maturity3.763%Apr 14, 2026Yield to maturity3.754%Apr 17, 2026Yield to maturity3.715%Apr 22, 2026Yield to maturity3.770%Apr 27, 2026Yield to maturity3.761%Apr 30, 2026Yield to maturity3.786%May 5, 2026Yield to maturity3.840%May 8, 2026Yield to maturity3.800%May 13, 2026Yield to maturity3.858%May 18, 2026Yield to maturity3.914%May 21, 2026Yield to maturity3.942%May 27, 2026Yield to maturity3.932%Jun 1, 2026Yield to maturity3.923%Jun 4, 2026Yield to maturity3.918%Jun 9, 2026Yield to maturity3.978%Jun 12, 2026Yield to maturity3.970%Jun 17, 2026Yield to maturity4.106%Jun 23, 2026Yield to maturity4.135%Jun 26, 2026Yield to maturity4.056%Jul 1, 2026Yield to maturity4.088%Jul 7, 2026Yield to maturity4.080%Jul 10, 2026Yield to maturity4.111%Jul 15, 2026Yield to maturity4.031%Jul 20, 2026Yield to maturity4.101%Jul 23, 2026Yield to maturity4.215%Jul 28, 2026Yield to maturity4.170%Jul 31, 2026Yield to maturity4.124%Aug 5, 2026Yield to maturity4.079%Aug 10, 2026Yield to maturity4.071%Aug 13, 2026Yield to maturity4.024%Aug 18, 2026Yield to maturity4.016%Aug 21, 2026Yield to maturity4.051%Aug 26, 2026Yield to maturity4.046%Aug 31, 2026Yield to maturity4.128%Sep 3, 2026Yield to maturity4.078%Sep 9, 2026Yield to maturity4.115%

Price history

580 trading days to Sep 9, 2026

99100101102103May 15, 2024Sep 9, 2026May 15, 2024Close99.969May 20, 2024Close99.656May 23, 2024Close99.406May 29, 2024Close99.188Jun 3, 2024Close99.656Jun 6, 2024Close100.000Jun 11, 2024Close99.688Jun 14, 2024Close100.125Jun 20, 2024Close100.031Jun 25, 2024Close100.031Jun 28, 2024Close99.875Jul 3, 2024Close99.938Jul 9, 2024Close100.156Jul 12, 2024Close100.625Jul 17, 2024Close100.688Jul 22, 2024Close100.438Jul 25, 2024Close100.531Jul 30, 2024Close100.750Aug 2, 2024Close102.000Aug 7, 2024Close101.594Aug 12, 2024Close101.594Aug 15, 2024Close101.438Aug 20, 2024Close101.688Aug 23, 2024Close101.844Aug 28, 2024Close101.844Sep 3, 2024Close101.844Sep 6, 2024Close102.344Sep 11, 2024Close102.469Sep 16, 2024Close102.594Sep 19, 2024Close102.469Sep 24, 2024Close102.563Sep 27, 2024Close102.438Oct 2, 2024Close102.281Oct 7, 2024Close101.375Oct 10, 2024Close101.375Oct 16, 2024Close101.500Oct 21, 2024Close101.250Oct 24, 2024Close101.125Oct 29, 2024Close100.969Nov 1, 2024Close100.719Nov 6, 2024Close100.594Nov 12, 2024Close100.406Nov 15, 2024Close100.500Nov 20, 2024Close100.500Nov 25, 2024Close100.594Nov 29, 2024Close100.844Dec 4, 2024Close100.875Dec 9, 2024Close100.875Dec 12, 2024Close100.719Dec 17, 2024Close100.563Dec 20, 2024Close100.406Dec 26, 2024Close100.313Dec 31, 2024Close100.500Jan 6, 2025Close100.438Jan 9, 2025Close100.406Jan 14, 2025Close100.188Jan 17, 2025Close100.406Jan 23, 2025Close100.375Jan 28, 2025Close100.594Jan 31, 2025Close100.531Feb 5, 2025Close100.625Feb 10, 2025Close100.438Feb 13, 2025Close100.344Feb 19, 2025Close100.438Feb 24, 2025Close100.656Feb 27, 2025Close100.875Mar 4, 2025Close101.094Mar 7, 2025Close101.031Mar 12, 2025Close101.000Mar 17, 2025Close100.875Mar 20, 2025Close101.094Mar 25, 2025Close101.000Mar 28, 2025Close101.156Apr 2, 2025Close101.156Apr 7, 2025Close101.531Apr 10, 2025Close101.250Apr 15, 2025Close101.250Apr 18, 2025Close101.313Apr 23, 2025Close101.188Apr 28, 2025Close101.563May 1, 2025Close101.500May 6, 2025Close101.313May 9, 2025Close101.125May 14, 2025Close100.813May 19, 2025Close100.969May 22, 2025Close100.906May 28, 2025Close100.906Jun 2, 2025Close101.000Jun 5, 2025Close101.000Jun 10, 2025Close100.844Jun 13, 2025Close100.969Jun 18, 2025Close101.000Jun 24, 2025Close101.219Jun 27, 2025Close101.281Jul 2, 2025Close101.188Jul 8, 2025Close100.969Jul 11, 2025Close101.000Jul 16, 2025Close101.000Jul 21, 2025Close101.063Jul 24, 2025Close100.938Jul 29, 2025Close101.000Aug 1, 2025Close101.281Aug 6, 2025Close101.281Aug 11, 2025Close101.188Aug 14, 2025Close101.219Aug 19, 2025Close101.188Aug 22, 2025Close101.250Aug 27, 2025Close101.313Sep 2, 2025Close101.281Sep 5, 2025Close101.500Sep 10, 2025Close101.438Sep 15, 2025Close101.469Sep 18, 2025Close101.438Sep 23, 2025Close101.375Sep 26, 2025Close101.250Oct 1, 2025Close101.406Oct 6, 2025Close101.313Oct 9, 2025Close101.344Oct 15, 2025Close101.438Oct 20, 2025Close101.500Oct 23, 2025Close101.469Oct 28, 2025Close101.438Oct 31, 2025Close101.250Nov 5, 2025Close101.219Nov 10, 2025Close101.281Nov 14, 2025Close101.219Nov 19, 2025Close101.250Nov 24, 2025Close101.344Nov 28, 2025Close101.313Dec 3, 2025Close101.344Dec 8, 2025Close101.219Dec 11, 2025Close101.281Dec 16, 2025Close101.344Dec 19, 2025Close101.344Dec 24, 2025Close101.281Dec 30, 2025Close101.344Jan 5, 2026Close101.344Jan 8, 2026Close101.281Jan 13, 2026Close101.219Jan 16, 2026Close101.156Jan 22, 2026Close101.125Jan 27, 2026Close101.156Jan 30, 2026Close101.188Feb 4, 2026Close101.125Feb 9, 2026Close101.219Feb 12, 2026Close101.188Feb 18, 2026Close101.156Feb 23, 2026Close101.156Feb 26, 2026Close101.125Mar 3, 2026Close101.063Mar 6, 2026Close101.000Mar 11, 2026Close100.938Mar 16, 2026Close100.875Mar 19, 2026Close100.750Mar 24, 2026Close100.594Mar 27, 2026Close100.625Apr 1, 2026Close100.750Apr 6, 2026Close100.719Apr 9, 2026Close100.781Apr 14, 2026Close100.781Apr 17, 2026Close100.813Apr 22, 2026Close100.750Apr 27, 2026Close100.750Apr 30, 2026Close100.719May 5, 2026Close100.656May 8, 2026Close100.688May 13, 2026Close100.625May 18, 2026Close100.563May 21, 2026Close100.531May 27, 2026Close100.531Jun 1, 2026Close100.531Jun 4, 2026Close100.531Jun 9, 2026Close100.469Jun 12, 2026Close100.469Jun 17, 2026Close100.344Jun 23, 2026Close100.313Jun 26, 2026Close100.375Jul 1, 2026Close100.344Jul 7, 2026Close100.344Jul 10, 2026Close100.313Jul 15, 2026Close100.375Jul 20, 2026Close100.313Jul 23, 2026Close100.219Jul 28, 2026Close100.250Jul 31, 2026Close100.281Aug 5, 2026Close100.313Aug 10, 2026Close100.313Aug 13, 2026Close100.344Aug 18, 2026Close100.344Aug 21, 2026Close100.313Aug 26, 2026Close100.313Aug 31, 2026Close100.250Sep 3, 2026Close100.281Sep 9, 2026Close100.250
The most recent 20 trading days of prices for 91282CKR1.
DateBidOfferClose
Sep 9, 2026100.266100.250100.250
Sep 8, 2026100.266100.250100.250
Sep 4, 2026100.266100.250100.250
Sep 3, 2026100.281100.281100.281
Sep 2, 2026100.250100.250100.250
Sep 1, 2026100.266100.250100.250
Aug 31, 2026100.266100.250100.250
Aug 28, 2026100.281100.250100.250
Aug 27, 2026100.328100.313100.313
Aug 26, 2026100.328100.313100.313
Aug 25, 2026100.328100.313100.313
Aug 24, 2026100.328100.313100.313
Aug 21, 2026100.328100.313100.313
Aug 20, 2026100.359100.344100.344
Aug 19, 2026100.359100.344100.344
Aug 18, 2026100.359100.344100.344
Aug 17, 2026100.359100.344100.344
Aug 14, 2026100.359100.344100.344
Aug 13, 2026100.359100.344100.344
Aug 12, 2026100.328100.313100.313

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 91282CKR1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 7, 2024May 15, 2024New issue$58.0bn$65.3bn2.63x4.605%

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.