Treasury note

91282CLC3 · 4% due July 31, 2029

Original term
5-Year
Maturity
Jul 31, 2029
Coupon
4.000%
Pays
Semi-Annual
Dated
Jul 31, 2024
First coupon
Jan 31, 2025
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$73.59bn
Held stripped
$151.9m
Share stripped
0.21%

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
4.512%
Modified duration
2.684 yr
DV01
0.0266
Convexity
8.749
Dirty price
99.071

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 5 of twelve buckets, summing to 2.743 years against a modified duration of 2.684.

Against the fitted curve

Priced 1.5 bp rich to the curve on that day, 3.89 cents per 100 of face.

That is -0.95 standard deviations from its own typical residual.

Yield to maturity, 528 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Jul 31, 2024Sep 9, 2026Jul 31, 2024Yield to maturity3.965%Aug 5, 2024Yield to maturity3.620%Aug 8, 2024Yield to maturity3.833%Aug 13, 2024Yield to maturity3.680%Aug 16, 2024Yield to maturity3.769%Aug 21, 2024Yield to maturity3.644%Aug 26, 2024Yield to maturity3.664%Aug 29, 2024Yield to maturity3.691%Sep 4, 2024Yield to maturity3.579%Sep 9, 2024Yield to maturity3.502%Sep 12, 2024Yield to maturity3.480%Sep 17, 2024Yield to maturity3.451%Sep 20, 2024Yield to maturity3.491%Sep 25, 2024Yield to maturity3.532%Sep 30, 2024Yield to maturity3.587%Oct 3, 2024Yield to maturity3.629%Oct 8, 2024Yield to maturity3.870%Oct 11, 2024Yield to maturity3.884%Oct 17, 2024Yield to maturity3.905%Oct 22, 2024Yield to maturity4.006%Oct 25, 2024Yield to maturity4.072%Oct 30, 2024Yield to maturity4.145%Nov 4, 2024Yield to maturity4.175%Nov 7, 2024Yield to maturity4.183%Nov 13, 2024Yield to maturity4.310%Nov 18, 2024Yield to maturity4.288%Nov 21, 2024Yield to maturity4.311%Nov 26, 2024Yield to maturity4.199%Dec 2, 2024Yield to maturity4.103%Dec 5, 2024Yield to maturity4.088%Dec 10, 2024Yield to maturity4.104%Dec 13, 2024Yield to maturity4.262%Dec 18, 2024Yield to maturity4.407%Dec 23, 2024Yield to maturity4.446%Dec 27, 2024Yield to maturity4.456%Jan 2, 2025Yield to maturity4.372%Jan 7, 2025Yield to maturity4.450%Jan 10, 2025Yield to maturity4.584%Jan 15, 2025Yield to maturity4.445%Jan 21, 2025Yield to maturity4.392%Jan 24, 2025Yield to maturity4.424%Jan 29, 2025Yield to maturity4.347%Feb 3, 2025Yield to maturity4.348%Feb 6, 2025Yield to maturity4.271%Feb 11, 2025Yield to maturity4.365%Feb 14, 2025Yield to maturity4.327%Feb 20, 2025Yield to maturity4.335%Feb 25, 2025Yield to maturity4.124%Feb 28, 2025Yield to maturity4.030%Mar 5, 2025Yield to maturity4.070%Mar 10, 2025Yield to maturity3.968%Mar 13, 2025Yield to maturity4.015%Mar 18, 2025Yield to maturity4.070%Mar 21, 2025Yield to maturity3.991%Mar 26, 2025Yield to maturity4.070%Mar 31, 2025Yield to maturity3.936%Apr 3, 2025Yield to maturity3.731%Apr 8, 2025Yield to maturity3.848%Apr 11, 2025Yield to maturity4.127%Apr 16, 2025Yield to maturity3.871%Apr 21, 2025Yield to maturity3.911%Apr 24, 2025Yield to maturity3.887%Apr 29, 2025Yield to maturity3.734%May 2, 2025Yield to maturity3.886%May 7, 2025Yield to maturity3.829%May 12, 2025Yield to maturity4.072%May 15, 2025Yield to maturity4.039%May 20, 2025Yield to maturity4.031%May 23, 2025Yield to maturity4.056%May 29, 2025Yield to maturity3.974%Jun 3, 2025Yield to maturity3.999%Jun 6, 2025Yield to maturity4.098%Jun 11, 2025Yield to maturity3.982%Jun 16, 2025Yield to maturity4.007%Jun 20, 2025Yield to maturity3.924%Jun 25, 2025Yield to maturity3.800%Jun 30, 2025Yield to maturity3.750%Jul 3, 2025Yield to maturity3.899%Jul 9, 2025Yield to maturity3.874%Jul 14, 2025Yield to maturity3.932%Jul 17, 2025Yield to maturity3.957%Jul 22, 2025Yield to maturity3.831%Jul 25, 2025Yield to maturity3.906%Jul 30, 2025Yield to maturity3.923%Aug 4, 2025Yield to maturity3.702%Aug 7, 2025Yield to maturity3.744%Aug 12, 2025Yield to maturity3.769%Aug 15, 2025Yield to maturity3.793%Aug 20, 2025Yield to maturity3.750%Aug 25, 2025Yield to maturity3.732%Aug 28, 2025Yield to maturity3.646%Sep 3, 2025Yield to maturity3.636%Sep 8, 2025Yield to maturity3.523%Sep 11, 2025Yield to maturity3.539%Sep 16, 2025Yield to maturity3.537%Sep 19, 2025Yield to maturity3.631%Sep 24, 2025Yield to maturity3.665%Sep 29, 2025Yield to maturity3.690%Oct 2, 2025Yield to maturity3.620%Oct 7, 2025Yield to maturity3.653%Oct 10, 2025Yield to maturity3.590%Oct 16, 2025Yield to maturity3.484%Oct 21, 2025Yield to maturity3.500%Oct 24, 2025Yield to maturity3.542%Oct 29, 2025Yield to maturity3.648%Nov 3, 2025Yield to maturity3.665%Nov 6, 2025Yield to maturity3.628%Nov 12, 2025Yield to maturity3.618%Nov 17, 2025Yield to maturity3.662%Nov 20, 2025Yield to maturity3.607%Nov 25, 2025Yield to maturity3.506%Dec 1, 2025Yield to maturity3.604%Dec 4, 2025Yield to maturity3.603%Dec 9, 2025Yield to maturity3.694%Dec 12, 2025Yield to maturity3.647%Dec 17, 2025Yield to maturity3.591%Dec 22, 2025Yield to maturity3.608%Dec 26, 2025Yield to maturity3.597%Dec 31, 2025Yield to maturity3.605%Jan 6, 2026Yield to maturity3.594%Jan 9, 2026Yield to maturity3.649%Jan 14, 2026Yield to maturity3.611%Jan 20, 2026Yield to maturity3.733%Jan 23, 2026Yield to maturity3.722%Jan 28, 2026Yield to maturity3.712%Feb 2, 2026Yield to maturity3.702%Feb 5, 2026Yield to maturity3.605%Feb 10, 2026Yield to maturity3.565%Feb 13, 2026Yield to maturity3.486%Feb 19, 2026Yield to maturity3.533%Feb 24, 2026Yield to maturity3.502%Feb 27, 2026Yield to maturity3.423%Mar 4, 2026Yield to maturity3.577%Mar 9, 2026Yield to maturity3.614%Mar 12, 2026Yield to maturity3.801%Mar 17, 2026Yield to maturity3.701%Mar 20, 2026Yield to maturity3.939%Mar 25, 2026Yield to maturity3.898%Mar 30, 2026Yield to maturity3.878%Apr 2, 2026Yield to maturity3.847%Apr 7, 2026Yield to maturity3.877%Apr 10, 2026Yield to maturity3.846%Apr 15, 2026Yield to maturity3.805%Apr 20, 2026Yield to maturity3.753%Apr 23, 2026Yield to maturity3.875%Apr 28, 2026Yield to maturity3.895%May 1, 2026Yield to maturity3.936%May 6, 2026Yield to maturity3.905%May 11, 2026Yield to maturity3.988%May 14, 2026Yield to maturity4.051%May 19, 2026Yield to maturity4.220%May 22, 2026Yield to maturity4.200%May 28, 2026Yield to maturity4.094%Jun 2, 2026Yield to maturity4.116%Jun 5, 2026Yield to maturity4.234%Jun 10, 2026Yield to maturity4.203%Jun 15, 2026Yield to maturity4.117%Jun 18, 2026Yield to maturity4.205%Jun 24, 2026Yield to maturity4.162%Jun 29, 2026Yield to maturity4.108%Jul 2, 2026Yield to maturity4.174%Jul 8, 2026Yield to maturity4.241%Jul 13, 2026Yield to maturity4.309%Jul 16, 2026Yield to maturity4.210%Jul 21, 2026Yield to maturity4.311%Jul 24, 2026Yield to maturity4.369%Jul 29, 2026Yield to maturity4.291%Aug 3, 2026Yield to maturity4.326%Aug 6, 2026Yield to maturity4.316%Aug 11, 2026Yield to maturity4.294%Aug 14, 2026Yield to maturity4.249%Aug 19, 2026Yield to maturity4.250%Aug 24, 2026Yield to maturity4.308%Aug 27, 2026Yield to maturity4.298%Sep 1, 2026Yield to maturity4.462%Sep 4, 2026Yield to maturity4.452%Sep 9, 2026Yield to maturity4.512%

Price history

528 trading days to Sep 9, 2026

979899100101102103Jul 31, 2024Sep 9, 2026Jul 31, 2024Close100.156Aug 5, 2024Close101.719Aug 8, 2024Close100.750Aug 13, 2024Close101.438Aug 16, 2024Close101.031Aug 21, 2024Close101.594Aug 26, 2024Close101.500Aug 29, 2024Close101.375Sep 4, 2024Close101.875Sep 9, 2024Close102.219Sep 12, 2024Close102.313Sep 17, 2024Close102.438Sep 20, 2024Close102.250Sep 25, 2024Close102.063Sep 30, 2024Close101.813Oct 3, 2024Close101.625Oct 8, 2024Close100.563Oct 11, 2024Close100.500Oct 17, 2024Close100.406Oct 22, 2024Close99.969Oct 25, 2024Close99.688Oct 30, 2024Close99.375Nov 4, 2024Close99.250Nov 7, 2024Close99.219Nov 13, 2024Close98.688Nov 18, 2024Close98.781Nov 21, 2024Close98.688Nov 26, 2024Close99.156Dec 2, 2024Close99.563Dec 5, 2024Close99.625Dec 10, 2024Close99.563Dec 13, 2024Close98.906Dec 18, 2024Close98.313Dec 23, 2024Close98.156Dec 27, 2024Close98.125Jan 2, 2025Close98.469Jan 7, 2025Close98.156Jan 10, 2025Close97.625Jan 15, 2025Close98.188Jan 21, 2025Close98.406Jan 24, 2025Close98.281Jan 29, 2025Close98.594Feb 3, 2025Close98.594Feb 6, 2025Close98.906Feb 11, 2025Close98.531Feb 14, 2025Close98.688Feb 20, 2025Close98.656Feb 25, 2025Close99.500Feb 28, 2025Close99.875Mar 5, 2025Close99.719Mar 10, 2025Close100.125Mar 13, 2025Close99.938Mar 18, 2025Close99.719Mar 21, 2025Close100.031Mar 26, 2025Close99.719Mar 31, 2025Close100.250Apr 3, 2025Close101.063Apr 8, 2025Close100.594Apr 11, 2025Close99.500Apr 16, 2025Close100.500Apr 21, 2025Close100.344Apr 24, 2025Close100.438Apr 29, 2025Close101.031May 2, 2025Close100.438May 7, 2025Close100.656May 12, 2025Close99.719May 15, 2025Close99.844May 20, 2025Close99.875May 23, 2025Close99.781May 29, 2025Close100.094Jun 3, 2025Close100.000Jun 6, 2025Close99.625Jun 11, 2025Close100.063Jun 16, 2025Close99.969Jun 20, 2025Close100.281Jun 25, 2025Close100.750Jun 30, 2025Close100.938Jul 3, 2025Close100.375Jul 9, 2025Close100.469Jul 14, 2025Close100.250Jul 17, 2025Close100.156Jul 22, 2025Close100.625Jul 25, 2025Close100.344Jul 30, 2025Close100.281Aug 4, 2025Close101.094Aug 7, 2025Close100.938Aug 12, 2025Close100.844Aug 15, 2025Close100.750Aug 20, 2025Close100.906Aug 25, 2025Close100.969Aug 28, 2025Close101.281Sep 3, 2025Close101.313Sep 8, 2025Close101.719Sep 11, 2025Close101.656Sep 16, 2025Close101.656Sep 19, 2025Close101.313Sep 24, 2025Close101.188Sep 29, 2025Close101.094Oct 2, 2025Close101.344Oct 7, 2025Close101.219Oct 10, 2025Close101.438Oct 16, 2025Close101.813Oct 21, 2025Close101.750Oct 24, 2025Close101.594Oct 29, 2025Close101.219Nov 3, 2025Close101.156Nov 6, 2025Close101.281Nov 12, 2025Close101.313Nov 17, 2025Close101.156Nov 20, 2025Close101.344Nov 25, 2025Close101.688Dec 1, 2025Close101.344Dec 4, 2025Close101.344Dec 9, 2025Close101.031Dec 12, 2025Close101.188Dec 17, 2025Close101.375Dec 22, 2025Close101.313Dec 26, 2025Close101.344Dec 31, 2025Close101.313Jan 6, 2026Close101.344Jan 9, 2026Close101.156Jan 14, 2026Close101.281Jan 20, 2026Close100.875Jan 23, 2026Close100.906Jan 28, 2026Close100.938Feb 2, 2026Close100.969Feb 5, 2026Close101.281Feb 10, 2026Close101.406Feb 13, 2026Close101.656Feb 19, 2026Close101.500Feb 24, 2026Close101.594Feb 27, 2026Close101.844Mar 4, 2026Close101.344Mar 9, 2026Close101.219Mar 12, 2026Close100.625Mar 17, 2026Close100.938Mar 20, 2026Close100.188Mar 25, 2026Close100.313Mar 30, 2026Close100.375Apr 2, 2026Close100.469Apr 7, 2026Close100.375Apr 10, 2026Close100.469Apr 15, 2026Close100.594Apr 20, 2026Close100.750Apr 23, 2026Close100.375Apr 28, 2026Close100.313May 1, 2026Close100.188May 6, 2026Close100.281May 11, 2026Close100.031May 14, 2026Close99.844May 19, 2026Close99.344May 22, 2026Close99.406May 28, 2026Close99.719Jun 2, 2026Close99.656Jun 5, 2026Close99.313Jun 10, 2026Close99.406Jun 15, 2026Close99.656Jun 18, 2026Close99.406Jun 24, 2026Close99.531Jun 29, 2026Close99.688Jul 2, 2026Close99.500Jul 8, 2026Close99.313Jul 13, 2026Close99.125Jul 16, 2026Close99.406Jul 21, 2026Close99.125Jul 24, 2026Close98.969Jul 29, 2026Close99.188Aug 3, 2026Close99.094Aug 6, 2026Close99.125Aug 11, 2026Close99.188Aug 14, 2026Close99.313Aug 19, 2026Close99.313Aug 24, 2026Close99.156Aug 27, 2026Close99.188Sep 1, 2026Close98.750Sep 4, 2026Close98.781Sep 9, 2026Close98.625
The most recent 20 trading days of prices for 91282CLC3.
DateBidOfferClose
Sep 9, 202698.64198.62598.625
Sep 8, 202698.76698.75098.719
Sep 4, 202698.82898.81398.781
Sep 3, 202698.92298.90698.875
Sep 2, 202698.76698.75098.750
Sep 1, 202698.82898.81398.750
Aug 31, 202698.92298.90698.906
Aug 28, 202698.96998.93898.875
Aug 27, 202699.23499.21999.188
Aug 26, 202699.23499.21999.219
Aug 25, 202699.29799.28199.281
Aug 24, 202699.20399.18899.156
Aug 21, 202699.14199.12599.125
Aug 20, 202699.26699.25099.250
Aug 19, 202699.29799.28199.313
Aug 18, 202699.29799.28199.281
Aug 17, 202699.32899.31399.281
Aug 14, 202699.35999.34499.313
Aug 13, 202699.39199.37599.375
Aug 12, 202699.29799.28199.250

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 91282CLC3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 24, 2024Jul 31, 2024New issue$70.0bn$73.9bn2.40x4.121%

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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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.