Treasury note

91282CLM1 · 3.625% due September 30, 2031

Original term
7-Year
Maturity
Sep 30, 2031
Coupon
3.625%
Pays
Semi-Annual
Dated
Sep 30, 2024
First coupon
Mar 31, 2025
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$44.83bn
Held stripped
$17.6m
Share stripped
0.04%

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
4.619%
Modified duration
4.473 yr
DV01
0.0435
Convexity
23.604
Dirty price
97.177

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 7 of twelve buckets, summing to 4.575 years against a modified duration of 4.473.

Against the fitted curve

Priced 0.2 bp rich to the curve on that day, 0.68 cents per 100 of face.

That is -0.84 standard deviations from its own typical residual.

Yield to maturity, 486 observations

3.4%3.6%3.8%4.0%4.2%4.4%4.6%4.8%Sep 30, 2024Sep 9, 2026Sep 30, 2024Yield to maturity3.671%Oct 3, 2024Yield to maturity3.712%Oct 8, 2024Yield to maturity3.935%Oct 11, 2024Yield to maturity3.972%Oct 17, 2024Yield to maturity3.988%Oct 22, 2024Yield to maturity4.100%Oct 25, 2024Yield to maturity4.154%Oct 30, 2024Yield to maturity4.208%Nov 4, 2024Yield to maturity4.247%Nov 7, 2024Yield to maturity4.247%Nov 13, 2024Yield to maturity4.379%Nov 18, 2024Yield to maturity4.347%Nov 21, 2024Yield to maturity4.364%Nov 26, 2024Yield to maturity4.246%Dec 2, 2024Yield to maturity4.133%Dec 5, 2024Yield to maturity4.123%Dec 10, 2024Yield to maturity4.151%Dec 13, 2024Yield to maturity4.327%Dec 18, 2024Yield to maturity4.449%Dec 23, 2024Yield to maturity4.523%Dec 27, 2024Yield to maturity4.536%Jan 2, 2025Yield to maturity4.470%Jan 7, 2025Yield to maturity4.572%Jan 10, 2025Yield to maturity4.693%Jan 15, 2025Yield to maturity4.553%Jan 21, 2025Yield to maturity4.481%Jan 24, 2025Yield to maturity4.528%Jan 29, 2025Yield to maturity4.445%Feb 3, 2025Yield to maturity4.446%Feb 6, 2025Yield to maturity4.351%Feb 11, 2025Yield to maturity4.449%Feb 14, 2025Yield to maturity4.400%Feb 20, 2025Yield to maturity4.423%Feb 25, 2025Yield to maturity4.205%Feb 28, 2025Yield to maturity4.128%Mar 5, 2025Yield to maturity4.173%Mar 10, 2025Yield to maturity4.091%Mar 13, 2025Yield to maturity4.136%Mar 18, 2025Yield to maturity4.165%Mar 21, 2025Yield to maturity4.110%Mar 26, 2025Yield to maturity4.201%Mar 31, 2025Yield to maturity4.072%Apr 3, 2025Yield to maturity3.867%Apr 8, 2025Yield to maturity4.034%Apr 11, 2025Yield to maturity4.307%Apr 16, 2025Yield to maturity4.052%Apr 21, 2025Yield to maturity4.149%Apr 24, 2025Yield to maturity4.093%Apr 29, 2025Yield to maturity3.930%May 2, 2025Yield to maturity4.078%May 7, 2025Yield to maturity4.021%May 12, 2025Yield to maturity4.239%May 15, 2025Yield to maturity4.211%May 20, 2025Yield to maturity4.229%May 23, 2025Yield to maturity4.248%May 29, 2025Yield to maturity4.162%Jun 3, 2025Yield to maturity4.186%Jun 6, 2025Yield to maturity4.269%Jun 11, 2025Yield to maturity4.153%Jun 16, 2025Yield to maturity4.183%Jun 20, 2025Yield to maturity4.097%Jun 25, 2025Yield to maturity3.988%Jun 30, 2025Yield to maturity3.926%Jul 3, 2025Yield to maturity4.065%Jul 9, 2025Yield to maturity4.048%Jul 14, 2025Yield to maturity4.119%Jul 17, 2025Yield to maturity4.149%Jul 22, 2025Yield to maturity4.021%Jul 25, 2025Yield to maturity4.081%Jul 30, 2025Yield to maturity4.081%Aug 4, 2025Yield to maturity3.878%Aug 7, 2025Yield to maturity3.919%Aug 12, 2025Yield to maturity3.954%Aug 15, 2025Yield to maturity3.984%Aug 20, 2025Yield to maturity3.938%Aug 25, 2025Yield to maturity3.927%Aug 28, 2025Yield to maturity3.839%Sep 3, 2025Yield to maturity3.828%Sep 8, 2025Yield to maturity3.694%Sep 11, 2025Yield to maturity3.683%Sep 16, 2025Yield to maturity3.701%Sep 19, 2025Yield to maturity3.801%Sep 24, 2025Yield to maturity3.824%Sep 29, 2025Yield to maturity3.843%Oct 2, 2025Yield to maturity3.778%Oct 7, 2025Yield to maturity3.819%Oct 10, 2025Yield to maturity3.749%Oct 16, 2025Yield to maturity3.654%Oct 21, 2025Yield to maturity3.654%Oct 24, 2025Yield to maturity3.702%Oct 29, 2025Yield to maturity3.791%Nov 3, 2025Yield to maturity3.809%Nov 6, 2025Yield to maturity3.779%Nov 12, 2025Yield to maturity3.762%Nov 17, 2025Yield to maturity3.810%Nov 20, 2025Yield to maturity3.762%Nov 25, 2025Yield to maturity3.660%Dec 1, 2025Yield to maturity3.757%Dec 4, 2025Yield to maturity3.775%Dec 9, 2025Yield to maturity3.867%Dec 12, 2025Yield to maturity3.843%Dec 17, 2025Yield to maturity3.794%Dec 22, 2025Yield to maturity3.813%Dec 26, 2025Yield to maturity3.789%Dec 31, 2025Yield to maturity3.814%Jan 6, 2026Yield to maturity3.808%Jan 9, 2026Yield to maturity3.839%Jan 14, 2026Yield to maturity3.796%Jan 20, 2026Yield to maturity3.946%Jan 23, 2026Yield to maturity3.915%Jan 28, 2026Yield to maturity3.922%Feb 2, 2026Yield to maturity3.916%Feb 5, 2026Yield to maturity3.829%Feb 10, 2026Yield to maturity3.780%Feb 13, 2026Yield to maturity3.680%Feb 19, 2026Yield to maturity3.718%Feb 24, 2026Yield to maturity3.674%Feb 27, 2026Yield to maturity3.593%Mar 4, 2026Yield to maturity3.744%Mar 9, 2026Yield to maturity3.776%Mar 12, 2026Yield to maturity3.941%Mar 17, 2026Yield to maturity3.852%Mar 20, 2026Yield to maturity4.084%Mar 25, 2026Yield to maturity4.040%Mar 30, 2026Yield to maturity4.041%Apr 2, 2026Yield to maturity4.002%Apr 7, 2026Yield to maturity4.016%Apr 10, 2026Yield to maturity3.997%Apr 15, 2026Yield to maturity3.952%Apr 20, 2026Yield to maturity3.908%Apr 23, 2026Yield to maturity4.012%Apr 28, 2026Yield to maturity4.032%May 1, 2026Yield to maturity4.066%May 6, 2026Yield to maturity4.040%May 11, 2026Yield to maturity4.114%May 14, 2026Yield to maturity4.174%May 19, 2026Yield to maturity4.370%May 22, 2026Yield to maturity4.298%May 28, 2026Yield to maturity4.191%Jun 2, 2026Yield to maturity4.206%Jun 5, 2026Yield to maturity4.315%Jun 10, 2026Yield to maturity4.296%Jun 15, 2026Yield to maturity4.209%Jun 18, 2026Yield to maturity4.252%Jun 24, 2026Yield to maturity4.205%Jun 29, 2026Yield to maturity4.159%Jul 2, 2026Yield to maturity4.256%Jul 8, 2026Yield to maturity4.325%Jul 13, 2026Yield to maturity4.382%Jul 16, 2026Yield to maturity4.300%Jul 21, 2026Yield to maturity4.392%Jul 24, 2026Yield to maturity4.450%Jul 29, 2026Yield to maturity4.395%Aug 3, 2026Yield to maturity4.418%Aug 6, 2026Yield to maturity4.412%Aug 11, 2026Yield to maturity4.414%Aug 14, 2026Yield to maturity4.381%Aug 19, 2026Yield to maturity4.368%Aug 24, 2026Yield to maturity4.426%Aug 27, 2026Yield to maturity4.413%Sep 1, 2026Yield to maturity4.572%Sep 4, 2026Yield to maturity4.561%Sep 9, 2026Yield to maturity4.619%

Price history

486 trading days to Sep 9, 2026

92949698100102Sep 30, 2024Sep 9, 2026Sep 30, 2024Close99.719Oct 3, 2024Close99.469Oct 8, 2024Close98.125Oct 11, 2024Close97.906Oct 17, 2024Close97.813Oct 22, 2024Close97.156Oct 25, 2024Close96.844Oct 30, 2024Close96.531Nov 4, 2024Close96.313Nov 7, 2024Close96.313Nov 13, 2024Close95.563Nov 18, 2024Close95.750Nov 21, 2024Close95.656Nov 26, 2024Close96.344Dec 2, 2024Close97.000Dec 5, 2024Close97.063Dec 10, 2024Close96.906Dec 13, 2024Close95.906Dec 18, 2024Close95.219Dec 23, 2024Close94.813Dec 27, 2024Close94.750Jan 2, 2025Close95.125Jan 7, 2025Close94.563Jan 10, 2025Close93.906Jan 15, 2025Close94.688Jan 21, 2025Close95.094Jan 24, 2025Close94.844Jan 29, 2025Close95.313Feb 3, 2025Close95.313Feb 6, 2025Close95.844Feb 11, 2025Close95.313Feb 14, 2025Close95.594Feb 20, 2025Close95.469Feb 25, 2025Close96.688Feb 28, 2025Close97.125Mar 5, 2025Close96.875Mar 10, 2025Close97.344Mar 13, 2025Close97.094Mar 18, 2025Close96.938Mar 21, 2025Close97.250Mar 26, 2025Close96.750Mar 31, 2025Close97.469Apr 3, 2025Close98.625Apr 8, 2025Close97.688Apr 11, 2025Close96.188Apr 16, 2025Close97.594Apr 21, 2025Close97.063Apr 24, 2025Close97.375Apr 29, 2025Close98.281May 2, 2025Close97.469May 7, 2025Close97.781May 12, 2025Close96.594May 15, 2025Close96.750May 20, 2025Close96.656May 23, 2025Close96.563May 29, 2025Close97.031Jun 3, 2025Close96.906Jun 6, 2025Close96.469Jun 11, 2025Close97.094Jun 16, 2025Close96.938Jun 20, 2025Close97.406Jun 25, 2025Close98.000Jun 30, 2025Close98.344Jul 3, 2025Close97.594Jul 9, 2025Close97.688Jul 14, 2025Close97.313Jul 17, 2025Close97.156Jul 22, 2025Close97.844Jul 25, 2025Close97.531Jul 30, 2025Close97.531Aug 4, 2025Close98.625Aug 7, 2025Close98.406Aug 12, 2025Close98.219Aug 15, 2025Close98.063Aug 20, 2025Close98.313Aug 25, 2025Close98.375Aug 28, 2025Close98.844Sep 3, 2025Close98.906Sep 8, 2025Close99.625Sep 11, 2025Close99.688Sep 16, 2025Close99.594Sep 19, 2025Close99.063Sep 24, 2025Close98.938Sep 29, 2025Close98.844Oct 2, 2025Close99.188Oct 7, 2025Close98.969Oct 10, 2025Close99.344Oct 16, 2025Close99.844Oct 21, 2025Close99.844Oct 24, 2025Close99.594Oct 29, 2025Close99.125Nov 3, 2025Close99.031Nov 6, 2025Close99.188Nov 12, 2025Close99.281Nov 17, 2025Close99.031Nov 20, 2025Close99.281Nov 25, 2025Close99.813Dec 1, 2025Close99.313Dec 4, 2025Close99.219Dec 9, 2025Close98.750Dec 12, 2025Close98.875Dec 17, 2025Close99.125Dec 22, 2025Close99.031Dec 26, 2025Close99.156Dec 31, 2025Close99.031Jan 6, 2026Close99.063Jan 9, 2026Close98.906Jan 14, 2026Close99.125Jan 20, 2026Close98.375Jan 23, 2026Close98.531Jan 28, 2026Close98.500Feb 2, 2026Close98.531Feb 5, 2026Close98.969Feb 10, 2026Close99.219Feb 13, 2026Close99.719Feb 19, 2026Close99.531Feb 24, 2026Close99.750Feb 27, 2026Close100.156Mar 4, 2026Close99.406Mar 9, 2026Close99.250Mar 12, 2026Close98.438Mar 17, 2026Close98.875Mar 20, 2026Close97.750Mar 25, 2026Close97.969Mar 30, 2026Close97.969Apr 2, 2026Close98.156Apr 7, 2026Close98.094Apr 10, 2026Close98.188Apr 15, 2026Close98.406Apr 20, 2026Close98.625Apr 23, 2026Close98.125Apr 28, 2026Close98.031May 1, 2026Close97.875May 6, 2026Close98.000May 11, 2026Close97.656May 14, 2026Close97.375May 19, 2026Close96.469May 22, 2026Close96.813May 28, 2026Close97.313Jun 2, 2026Close97.250Jun 5, 2026Close96.750Jun 10, 2026Close96.844Jun 15, 2026Close97.250Jun 18, 2026Close97.063Jun 24, 2026Close97.281Jun 29, 2026Close97.500Jul 2, 2026Close97.063Jul 8, 2026Close96.750Jul 13, 2026Close96.500Jul 16, 2026Close96.875Jul 21, 2026Close96.469Jul 24, 2026Close96.219Jul 29, 2026Close96.469Aug 3, 2026Close96.375Aug 6, 2026Close96.406Aug 11, 2026Close96.406Aug 14, 2026Close96.563Aug 19, 2026Close96.625Aug 24, 2026Close96.375Aug 27, 2026Close96.438Sep 1, 2026Close95.750Sep 4, 2026Close95.813Sep 9, 2026Close95.563
The most recent 20 trading days of prices for 91282CLM1.
DateBidOfferClose
Sep 9, 202695.54795.53195.563
Sep 8, 202695.76695.75095.719
Sep 4, 202695.85995.84495.813
Sep 3, 202696.04796.03195.938
Sep 2, 202695.76695.75095.781
Sep 1, 202695.90695.90695.750
Aug 31, 202696.01696.00096.000
Aug 28, 202696.18896.15696.063
Aug 27, 202696.54796.53196.438
Aug 26, 202696.54796.53196.500
Aug 25, 202696.60996.59496.656
Aug 24, 202696.45396.43896.375
Aug 21, 202696.29796.28196.281
Aug 20, 202696.45396.43896.469
Aug 19, 202696.59496.59496.625
Aug 18, 202696.51696.50096.500
Aug 17, 202696.56396.56396.500
Aug 14, 202696.64196.62596.563
Aug 13, 202696.76696.75096.750
Aug 12, 202696.57896.56396.500

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 91282CLM1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 26, 2024Sep 30, 2024New issue$44.0bn$44.9bn2.63x3.668%

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.