Treasury note

91282CLD1 · 4.125% due July 31, 2031

Original term
7-Year
Maturity
Jul 31, 2031
Coupon
4.125%
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
$45.99bn
Held stripped
$0.0m
Share stripped
0.00%

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
4.615%
Modified duration
4.351 yr
DV01
0.0428
Convexity
22.223
Dirty price
98.335

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 4.450 years against a modified duration of 4.351.

Against the fitted curve

Priced 0.1 bp cheap to the curve on that day, 0.52 cents per 100 of face.

That is -0.36 standard deviations from its own typical residual.

Yield to maturity, 528 observations

3.50%3.75%4.00%4.25%4.50%4.75%Jul 31, 2024Sep 9, 2026Jul 31, 2024Yield to maturity3.996%Aug 5, 2024Yield to maturity3.665%Aug 8, 2024Yield to maturity3.893%Aug 13, 2024Yield to maturity3.734%Aug 16, 2024Yield to maturity3.805%Aug 21, 2024Yield to maturity3.692%Aug 26, 2024Yield to maturity3.722%Aug 29, 2024Yield to maturity3.763%Sep 4, 2024Yield to maturity3.650%Sep 9, 2024Yield to maturity3.578%Sep 12, 2024Yield to maturity3.562%Sep 17, 2024Yield to maturity3.525%Sep 20, 2024Yield to maturity3.590%Sep 25, 2024Yield to maturity3.636%Sep 30, 2024Yield to maturity3.671%Oct 3, 2024Yield to maturity3.711%Oct 8, 2024Yield to maturity3.934%Oct 11, 2024Yield to maturity3.971%Oct 17, 2024Yield to maturity3.986%Oct 22, 2024Yield to maturity4.097%Oct 25, 2024Yield to maturity4.156%Oct 30, 2024Yield to maturity4.210%Nov 4, 2024Yield to maturity4.248%Nov 7, 2024Yield to maturity4.248%Nov 13, 2024Yield to maturity4.379%Nov 18, 2024Yield to maturity4.352%Nov 21, 2024Yield to maturity4.363%Nov 26, 2024Yield to maturity4.243%Dec 2, 2024Yield to maturity4.135%Dec 5, 2024Yield to maturity4.119%Dec 10, 2024Yield to maturity4.151%Dec 13, 2024Yield to maturity4.321%Dec 18, 2024Yield to maturity4.449%Dec 23, 2024Yield to maturity4.517%Dec 27, 2024Yield to maturity4.529%Jan 2, 2025Yield to maturity4.462%Jan 7, 2025Yield to maturity4.558%Jan 10, 2025Yield to maturity4.684%Jan 15, 2025Yield to maturity4.543%Jan 21, 2025Yield to maturity4.470%Jan 24, 2025Yield to maturity4.516%Jan 29, 2025Yield to maturity4.438%Feb 3, 2025Yield to maturity4.438%Feb 6, 2025Yield to maturity4.348%Feb 11, 2025Yield to maturity4.445%Feb 14, 2025Yield to maturity4.394%Feb 20, 2025Yield to maturity4.417%Feb 25, 2025Yield to maturity4.203%Feb 28, 2025Yield to maturity4.119%Mar 5, 2025Yield to maturity4.164%Mar 10, 2025Yield to maturity4.080%Mar 13, 2025Yield to maturity4.124%Mar 18, 2025Yield to maturity4.158%Mar 21, 2025Yield to maturity4.096%Mar 26, 2025Yield to maturity4.192%Mar 31, 2025Yield to maturity4.062%Apr 3, 2025Yield to maturity3.855%Apr 8, 2025Yield to maturity4.022%Apr 11, 2025Yield to maturity4.296%Apr 16, 2025Yield to maturity4.039%Apr 21, 2025Yield to maturity4.130%Apr 24, 2025Yield to maturity4.073%Apr 29, 2025Yield to maturity3.914%May 2, 2025Yield to maturity4.061%May 7, 2025Yield to maturity4.004%May 12, 2025Yield to maturity4.222%May 15, 2025Yield to maturity4.199%May 20, 2025Yield to maturity4.205%May 23, 2025Yield to maturity4.223%May 29, 2025Yield to maturity4.141%Jun 3, 2025Yield to maturity4.165%Jun 6, 2025Yield to maturity4.253%Jun 11, 2025Yield to maturity4.136%Jun 16, 2025Yield to maturity4.165%Jun 20, 2025Yield to maturity4.084%Jun 25, 2025Yield to maturity3.967%Jun 30, 2025Yield to maturity3.909%Jul 3, 2025Yield to maturity4.048%Jul 9, 2025Yield to maturity4.031%Jul 14, 2025Yield to maturity4.101%Jul 17, 2025Yield to maturity4.131%Jul 22, 2025Yield to maturity4.001%Jul 25, 2025Yield to maturity4.066%Jul 30, 2025Yield to maturity4.066%Aug 4, 2025Yield to maturity3.860%Aug 7, 2025Yield to maturity3.900%Aug 12, 2025Yield to maturity3.935%Aug 15, 2025Yield to maturity3.958%Aug 20, 2025Yield to maturity3.917%Aug 25, 2025Yield to maturity3.904%Aug 28, 2025Yield to maturity3.815%Sep 3, 2025Yield to maturity3.809%Sep 8, 2025Yield to maturity3.672%Sep 11, 2025Yield to maturity3.672%Sep 16, 2025Yield to maturity3.683%Sep 19, 2025Yield to maturity3.782%Sep 24, 2025Yield to maturity3.812%Sep 29, 2025Yield to maturity3.829%Oct 2, 2025Yield to maturity3.763%Oct 7, 2025Yield to maturity3.804%Oct 10, 2025Yield to maturity3.731%Oct 16, 2025Yield to maturity3.635%Oct 21, 2025Yield to maturity3.640%Oct 24, 2025Yield to maturity3.687%Oct 29, 2025Yield to maturity3.777%Nov 3, 2025Yield to maturity3.794%Nov 6, 2025Yield to maturity3.763%Nov 12, 2025Yield to maturity3.744%Nov 17, 2025Yield to maturity3.792%Nov 20, 2025Yield to maturity3.749%Nov 25, 2025Yield to maturity3.645%Dec 1, 2025Yield to maturity3.741%Dec 4, 2025Yield to maturity3.753%Dec 9, 2025Yield to maturity3.845%Dec 12, 2025Yield to maturity3.825%Dec 17, 2025Yield to maturity3.776%Dec 22, 2025Yield to maturity3.787%Dec 26, 2025Yield to maturity3.762%Dec 31, 2025Yield to maturity3.799%Jan 6, 2026Yield to maturity3.779%Jan 9, 2026Yield to maturity3.816%Jan 14, 2026Yield to maturity3.778%Jan 20, 2026Yield to maturity3.922%Jan 23, 2026Yield to maturity3.896%Jan 28, 2026Yield to maturity3.902%Feb 2, 2026Yield to maturity3.895%Feb 5, 2026Yield to maturity3.800%Feb 10, 2026Yield to maturity3.755%Feb 13, 2026Yield to maturity3.659%Feb 19, 2026Yield to maturity3.703%Feb 24, 2026Yield to maturity3.658%Feb 27, 2026Yield to maturity3.568%Mar 4, 2026Yield to maturity3.726%Mar 9, 2026Yield to maturity3.757%Mar 12, 2026Yield to maturity3.929%Mar 17, 2026Yield to maturity3.832%Mar 20, 2026Yield to maturity4.059%Mar 25, 2026Yield to maturity4.019%Mar 30, 2026Yield to maturity4.019%Apr 2, 2026Yield to maturity3.986%Apr 7, 2026Yield to maturity3.992%Apr 10, 2026Yield to maturity3.979%Apr 15, 2026Yield to maturity3.939%Apr 20, 2026Yield to maturity3.893%Apr 23, 2026Yield to maturity3.998%Apr 28, 2026Yield to maturity4.017%May 1, 2026Yield to maturity4.050%May 6, 2026Yield to maturity4.024%May 11, 2026Yield to maturity4.097%May 14, 2026Yield to maturity4.158%May 19, 2026Yield to maturity4.354%May 22, 2026Yield to maturity4.287%May 28, 2026Yield to maturity4.178%Jun 2, 2026Yield to maturity4.192%Jun 5, 2026Yield to maturity4.302%Jun 10, 2026Yield to maturity4.288%Jun 15, 2026Yield to maturity4.199%Jun 18, 2026Yield to maturity4.248%Jun 24, 2026Yield to maturity4.200%Jun 29, 2026Yield to maturity4.152%Jul 2, 2026Yield to maturity4.249%Jul 8, 2026Yield to maturity4.319%Jul 13, 2026Yield to maturity4.382%Jul 16, 2026Yield to maturity4.292%Jul 21, 2026Yield to maturity4.384%Jul 24, 2026Yield to maturity4.441%Jul 29, 2026Yield to maturity4.385%Aug 3, 2026Yield to maturity4.414%Aug 6, 2026Yield to maturity4.407%Aug 11, 2026Yield to maturity4.408%Aug 14, 2026Yield to maturity4.373%Aug 19, 2026Yield to maturity4.359%Aug 24, 2026Yield to maturity4.424%Aug 27, 2026Yield to maturity4.402%Sep 1, 2026Yield to maturity4.562%Sep 4, 2026Yield to maturity4.556%Sep 9, 2026Yield to maturity4.615%

Price history

528 trading days to Sep 9, 2026

9698100102104Jul 31, 2024Sep 9, 2026Jul 31, 2024Close100.781Aug 5, 2024Close102.813Aug 8, 2024Close101.406Aug 13, 2024Close102.375Aug 16, 2024Close101.938Aug 21, 2024Close102.625Aug 26, 2024Close102.438Aug 29, 2024Close102.188Sep 4, 2024Close102.875Sep 9, 2024Close103.313Sep 12, 2024Close103.406Sep 17, 2024Close103.625Sep 20, 2024Close103.219Sep 25, 2024Close102.938Sep 30, 2024Close102.719Oct 3, 2024Close102.469Oct 8, 2024Close101.125Oct 11, 2024Close100.906Oct 17, 2024Close100.813Oct 22, 2024Close100.156Oct 25, 2024Close99.813Oct 30, 2024Close99.500Nov 4, 2024Close99.281Nov 7, 2024Close99.281Nov 13, 2024Close98.531Nov 18, 2024Close98.688Nov 21, 2024Close98.625Nov 26, 2024Close99.313Dec 2, 2024Close99.938Dec 5, 2024Close100.031Dec 10, 2024Close99.844Dec 13, 2024Close98.875Dec 18, 2024Close98.156Dec 23, 2024Close97.781Dec 27, 2024Close97.719Jan 2, 2025Close98.094Jan 7, 2025Close97.563Jan 10, 2025Close96.875Jan 15, 2025Close97.656Jan 21, 2025Close98.063Jan 24, 2025Close97.813Jan 29, 2025Close98.250Feb 3, 2025Close98.250Feb 6, 2025Close98.750Feb 11, 2025Close98.219Feb 14, 2025Close98.500Feb 20, 2025Close98.375Feb 25, 2025Close99.563Feb 28, 2025Close100.031Mar 5, 2025Close99.781Mar 10, 2025Close100.250Mar 13, 2025Close100.000Mar 18, 2025Close99.813Mar 21, 2025Close100.156Mar 26, 2025Close99.625Mar 31, 2025Close100.344Apr 3, 2025Close101.500Apr 8, 2025Close100.563Apr 11, 2025Close99.063Apr 16, 2025Close100.469Apr 21, 2025Close99.969Apr 24, 2025Close100.281Apr 29, 2025Close101.156May 2, 2025Close100.344May 7, 2025Close100.656May 12, 2025Close99.469May 15, 2025Close99.594May 20, 2025Close99.563May 23, 2025Close99.469May 29, 2025Close99.906Jun 3, 2025Close99.781Jun 6, 2025Close99.313Jun 11, 2025Close99.938Jun 16, 2025Close99.781Jun 20, 2025Close100.219Jun 25, 2025Close100.844Jun 30, 2025Close101.156Jul 3, 2025Close100.406Jul 9, 2025Close100.500Jul 14, 2025Close100.125Jul 17, 2025Close99.969Jul 22, 2025Close100.656Jul 25, 2025Close100.313Jul 30, 2025Close100.313Aug 4, 2025Close101.406Aug 7, 2025Close101.188Aug 12, 2025Close101.000Aug 15, 2025Close100.875Aug 20, 2025Close101.094Aug 25, 2025Close101.156Aug 28, 2025Close101.625Sep 3, 2025Close101.656Sep 8, 2025Close102.375Sep 11, 2025Close102.375Sep 16, 2025Close102.313Sep 19, 2025Close101.781Sep 24, 2025Close101.625Sep 29, 2025Close101.531Oct 2, 2025Close101.875Oct 7, 2025Close101.656Oct 10, 2025Close102.031Oct 16, 2025Close102.531Oct 21, 2025Close102.500Oct 24, 2025Close102.250Oct 29, 2025Close101.781Nov 3, 2025Close101.688Nov 6, 2025Close101.844Nov 12, 2025Close101.938Nov 17, 2025Close101.688Nov 20, 2025Close101.906Nov 25, 2025Close102.438Dec 1, 2025Close101.938Dec 4, 2025Close101.875Dec 9, 2025Close101.406Dec 12, 2025Close101.500Dec 17, 2025Close101.750Dec 22, 2025Close101.688Dec 26, 2025Close101.813Dec 31, 2025Close101.625Jan 6, 2026Close101.719Jan 9, 2026Close101.531Jan 14, 2026Close101.719Jan 20, 2026Close101.000Jan 23, 2026Close101.125Jan 28, 2026Close101.094Feb 2, 2026Close101.125Feb 5, 2026Close101.594Feb 10, 2026Close101.813Feb 13, 2026Close102.281Feb 19, 2026Close102.063Feb 24, 2026Close102.281Feb 27, 2026Close102.719Mar 4, 2026Close101.938Mar 9, 2026Close101.781Mar 12, 2026Close100.938Mar 17, 2026Close101.406Mar 20, 2026Close100.313Mar 25, 2026Close100.500Mar 30, 2026Close100.500Apr 2, 2026Close100.656Apr 7, 2026Close100.625Apr 10, 2026Close100.688Apr 15, 2026Close100.875Apr 20, 2026Close101.094Apr 23, 2026Close100.594Apr 28, 2026Close100.500May 1, 2026Close100.344May 6, 2026Close100.469May 11, 2026Close100.125May 14, 2026Close99.844May 19, 2026Close98.938May 22, 2026Close99.250May 28, 2026Close99.750Jun 2, 2026Close99.688Jun 5, 2026Close99.188Jun 10, 2026Close99.250Jun 15, 2026Close99.656Jun 18, 2026Close99.438Jun 24, 2026Close99.656Jun 29, 2026Close99.875Jul 2, 2026Close99.438Jul 8, 2026Close99.125Jul 13, 2026Close98.844Jul 16, 2026Close99.250Jul 21, 2026Close98.844Jul 24, 2026Close98.594Jul 29, 2026Close98.844Aug 3, 2026Close98.719Aug 6, 2026Close98.750Aug 11, 2026Close98.750Aug 14, 2026Close98.906Aug 19, 2026Close98.969Aug 24, 2026Close98.688Aug 27, 2026Close98.781Sep 1, 2026Close98.094Sep 4, 2026Close98.125Sep 9, 2026Close97.875
The most recent 20 trading days of prices for 91282CLD1.
DateBidOfferClose
Sep 9, 202697.85997.84497.875
Sep 8, 202698.07898.06398.031
Sep 4, 202698.17298.15698.125
Sep 3, 202698.35998.34498.250
Sep 2, 202698.10998.09498.125
Sep 1, 202698.23498.21998.094
Aug 31, 202698.32898.31398.313
Aug 28, 202698.51698.50098.375
Aug 27, 202698.89198.87598.781
Aug 26, 202698.85998.84498.844
Aug 25, 202698.95398.93898.969
Aug 24, 202698.79798.78198.688
Aug 21, 202698.64198.62598.625
Aug 20, 202698.79798.78198.813
Aug 19, 202698.92298.90698.969
Aug 18, 202698.89198.87598.875
Aug 17, 202698.92298.90698.844
Aug 14, 202699.01699.00098.906
Aug 13, 202699.10999.09499.094
Aug 12, 202698.92298.90698.844

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 91282CLD1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 25, 2024Jul 31, 2024New issue$44.0bn$46.4bn2.64x4.162%

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.