Treasury note

91282CLR0 · 4.125% due October 31, 2029

Original term
5-Year
Maturity
Oct 31, 2029
Coupon
4.125%
Pays
Semi-Annual
Dated
Oct 31, 2024
First coupon
Apr 30, 2025
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$70.86bn
Held stripped
$113.6m
Share stripped
0.16%

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
4.523%
Modified duration
2.867 yr
DV01
0.0288
Convexity
10.014
Dirty price
100.335

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 2.932 years against a modified duration of 2.867.

Against the fitted curve

Priced 2.2 bp rich to the curve on that day, 6.39 cents per 100 of face.

That is -1.65 standard deviations from its own typical residual.

Yield to maturity, 464 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Oct 31, 2024Sep 9, 2026Oct 31, 2024Yield to maturity4.146%Nov 4, 2024Yield to maturity4.167%Nov 6, 2024Yield to maturity4.272%Nov 8, 2024Yield to maturity4.195%Nov 13, 2024Yield to maturity4.294%Nov 15, 2024Yield to maturity4.294%Nov 19, 2024Yield to maturity4.252%Nov 21, 2024Yield to maturity4.302%Nov 25, 2024Yield to maturity4.174%Nov 27, 2024Yield to maturity4.139%Dec 2, 2024Yield to maturity4.096%Dec 4, 2024Yield to maturity4.082%Dec 6, 2024Yield to maturity4.046%Dec 10, 2024Yield to maturity4.103%Dec 12, 2024Yield to maturity4.188%Dec 16, 2024Yield to maturity4.260%Dec 18, 2024Yield to maturity4.405%Dec 20, 2024Yield to maturity4.384%Dec 24, 2024Yield to maturity4.450%Dec 27, 2024Yield to maturity4.458%Dec 31, 2024Yield to maturity4.385%Jan 3, 2025Yield to maturity4.415%Jan 7, 2025Yield to maturity4.466%Jan 9, 2025Yield to maturity4.459%Jan 13, 2025Yield to maturity4.616%Jan 15, 2025Yield to maturity4.453%Jan 17, 2025Yield to maturity4.417%Jan 22, 2025Yield to maturity4.432%Jan 24, 2025Yield to maturity4.433%Jan 28, 2025Yield to maturity4.337%Jan 30, 2025Yield to maturity4.315%Feb 3, 2025Yield to maturity4.352%Feb 5, 2025Yield to maturity4.242%Feb 7, 2025Yield to maturity4.346%Feb 11, 2025Yield to maturity4.376%Feb 13, 2025Yield to maturity4.391%Feb 18, 2025Yield to maturity4.399%Feb 20, 2025Yield to maturity4.347%Feb 24, 2025Yield to maturity4.228%Feb 26, 2025Yield to maturity4.079%Feb 28, 2025Yield to maturity4.035%Mar 4, 2025Yield to maturity4.013%Mar 6, 2025Yield to maturity4.064%Mar 10, 2025Yield to maturity3.983%Mar 12, 2025Yield to maturity4.079%Mar 14, 2025Yield to maturity4.094%Mar 18, 2025Yield to maturity4.079%Mar 20, 2025Yield to maturity4.012%Mar 24, 2025Yield to maturity4.094%Mar 26, 2025Yield to maturity4.087%Mar 28, 2025Yield to maturity3.974%Apr 1, 2025Yield to maturity3.906%Apr 3, 2025Yield to maturity3.742%Apr 7, 2025Yield to maturity3.808%Apr 9, 2025Yield to maturity4.049%Apr 11, 2025Yield to maturity4.147%Apr 15, 2025Yield to maturity3.973%Apr 17, 2025Yield to maturity3.927%Apr 21, 2025Yield to maturity3.935%Apr 23, 2025Yield to maturity3.988%Apr 25, 2025Yield to maturity3.866%Apr 29, 2025Yield to maturity3.744%May 1, 2025Yield to maturity3.789%May 5, 2025Yield to maturity3.918%May 7, 2025Yield to maturity3.849%May 9, 2025Yield to maturity3.978%May 13, 2025Yield to maturity4.109%May 15, 2025Yield to maturity4.055%May 19, 2025Yield to maturity4.047%May 21, 2025Yield to maturity4.124%May 23, 2025Yield to maturity4.070%May 28, 2025Yield to maturity4.046%May 30, 2025Yield to maturity3.961%Jun 3, 2025Yield to maturity4.015%Jun 5, 2025Yield to maturity3.984%Jun 9, 2025Yield to maturity4.077%Jun 11, 2025Yield to maturity3.999%Jun 13, 2025Yield to maturity3.998%Jun 17, 2025Yield to maturity3.967%Jun 20, 2025Yield to maturity3.943%Jun 24, 2025Yield to maturity3.833%Jun 26, 2025Yield to maturity3.770%Jun 30, 2025Yield to maturity3.761%Jul 2, 2025Yield to maturity3.839%Jul 7, 2025Yield to maturity3.933%Jul 9, 2025Yield to maturity3.885%Jul 11, 2025Yield to maturity3.956%Jul 15, 2025Yield to maturity4.020%Jul 17, 2025Yield to maturity3.972%Jul 21, 2025Yield to maturity3.876%Jul 23, 2025Yield to maturity3.907%Jul 25, 2025Yield to maturity3.923%Jul 29, 2025Yield to maturity3.874%Jul 31, 2025Yield to maturity3.938%Aug 4, 2025Yield to maturity3.714%Aug 6, 2025Yield to maturity3.729%Aug 8, 2025Yield to maturity3.800%Aug 12, 2025Yield to maturity3.792%Aug 14, 2025Yield to maturity3.784%Aug 18, 2025Yield to maturity3.815%Aug 20, 2025Yield to maturity3.766%Aug 22, 2025Yield to maturity3.717%Aug 26, 2025Yield to maturity3.700%Aug 28, 2025Yield to maturity3.660%Sep 2, 2025Yield to maturity3.699%Sep 4, 2025Yield to maturity3.609%Sep 8, 2025Yield to maturity3.535%Sep 10, 2025Yield to maturity3.559%Sep 12, 2025Yield to maturity3.598%Sep 16, 2025Yield to maturity3.557%Sep 18, 2025Yield to maturity3.629%Sep 22, 2025Yield to maturity3.661%Sep 24, 2025Yield to maturity3.677%Sep 26, 2025Yield to maturity3.733%Sep 30, 2025Yield to maturity3.700%Oct 2, 2025Yield to maturity3.634%Oct 6, 2025Yield to maturity3.707%Oct 8, 2025Yield to maturity3.682%Oct 10, 2025Yield to maturity3.606%Oct 15, 2025Yield to maturity3.580%Oct 17, 2025Yield to maturity3.546%Oct 21, 2025Yield to maturity3.520%Oct 23, 2025Yield to maturity3.561%Oct 27, 2025Yield to maturity3.576%Oct 29, 2025Yield to maturity3.659%Oct 31, 2025Yield to maturity3.667%Nov 4, 2025Yield to maturity3.649%Nov 6, 2025Yield to maturity3.640%Nov 10, 2025Yield to maturity3.664%Nov 13, 2025Yield to maturity3.663%Nov 17, 2025Yield to maturity3.679%Nov 19, 2025Yield to maturity3.653%Nov 21, 2025Yield to maturity3.566%Nov 25, 2025Yield to maturity3.523%Nov 28, 2025Yield to maturity3.555%Dec 2, 2025Yield to maturity3.597%Dec 4, 2025Yield to maturity3.622%Dec 8, 2025Yield to maturity3.689%Dec 10, 2025Yield to maturity3.654%Dec 12, 2025Yield to maturity3.679%Dec 16, 2025Yield to maturity3.609%Dec 18, 2025Yield to maturity3.583%Dec 22, 2025Yield to maturity3.633%Dec 24, 2025Yield to maturity3.641%Dec 29, 2025Yield to maturity3.596%Dec 31, 2025Yield to maturity3.639%Jan 5, 2026Yield to maturity3.620%Jan 7, 2026Yield to maturity3.610%Jan 9, 2026Yield to maturity3.679%Jan 13, 2026Yield to maturity3.661%Jan 15, 2026Yield to maturity3.696%Jan 20, 2026Yield to maturity3.765%Jan 22, 2026Yield to maturity3.765%Jan 26, 2026Yield to maturity3.737%Jan 28, 2026Yield to maturity3.745%Jan 30, 2026Yield to maturity3.691%Feb 3, 2026Yield to maturity3.735%Feb 5, 2026Yield to maturity3.636%Feb 9, 2026Yield to maturity3.643%Feb 11, 2026Yield to maturity3.652%Feb 13, 2026Yield to maturity3.515%Feb 18, 2026Yield to maturity3.568%Feb 20, 2026Yield to maturity3.567%Feb 24, 2026Yield to maturity3.521%Feb 26, 2026Yield to maturity3.502%Mar 2, 2026Yield to maturity3.546%Mar 4, 2026Yield to maturity3.608%Mar 6, 2026Yield to maturity3.653%Mar 10, 2026Yield to maturity3.652%Mar 12, 2026Yield to maturity3.826%Mar 16, 2026Yield to maturity3.742%Mar 18, 2026Yield to maturity3.816%Mar 20, 2026Yield to maturity3.964%Mar 24, 2026Yield to maturity3.983%Mar 26, 2026Yield to maturity4.049%Mar 30, 2026Yield to maturity3.907%Apr 1, 2026Yield to maturity3.898%Apr 3, 2026Yield to maturity3.925%Apr 7, 2026Yield to maturity3.897%Apr 9, 2026Yield to maturity3.849%Apr 13, 2026Yield to maturity3.849%Apr 15, 2026Yield to maturity3.829%Apr 17, 2026Yield to maturity3.772%Apr 21, 2026Yield to maturity3.838%Apr 23, 2026Yield to maturity3.885%Apr 27, 2026Yield to maturity3.875%Apr 29, 2026Yield to maturity3.990%May 1, 2026Yield to maturity3.951%May 5, 2026Yield to maturity4.008%May 7, 2026Yield to maturity3.979%May 11, 2026Yield to maturity4.008%May 13, 2026Yield to maturity4.056%May 15, 2026Yield to maturity4.193%May 19, 2026Yield to maturity4.252%May 21, 2026Yield to maturity4.183%May 26, 2026Yield to maturity4.134%May 28, 2026Yield to maturity4.104%Jun 1, 2026Yield to maturity4.134%Jun 3, 2026Yield to maturity4.164%Jun 5, 2026Yield to maturity4.254%Jun 9, 2026Yield to maturity4.214%Jun 11, 2026Yield to maturity4.134%Jun 15, 2026Yield to maturity4.134%Jun 17, 2026Yield to maturity4.254%Jun 22, 2026Yield to maturity4.265%Jun 24, 2026Yield to maturity4.164%Jun 26, 2026Yield to maturity4.103%Jun 30, 2026Yield to maturity4.164%Jul 2, 2026Yield to maturity4.195%Jul 7, 2026Yield to maturity4.225%Jul 9, 2026Yield to maturity4.215%Jul 13, 2026Yield to maturity4.318%Jul 15, 2026Yield to maturity4.195%Jul 17, 2026Yield to maturity4.237%Jul 21, 2026Yield to maturity4.320%Jul 23, 2026Yield to maturity4.414%Jul 27, 2026Yield to maturity4.373%Jul 29, 2026Yield to maturity4.310%Jul 31, 2026Yield to maturity4.374%Aug 4, 2026Yield to maturity4.269%Aug 6, 2026Yield to maturity4.333%Aug 10, 2026Yield to maturity4.333%Aug 12, 2026Yield to maturity4.291%Aug 14, 2026Yield to maturity4.271%Aug 18, 2026Yield to maturity4.282%Aug 20, 2026Yield to maturity4.292%Aug 24, 2026Yield to maturity4.325%Aug 26, 2026Yield to maturity4.315%Aug 28, 2026Yield to maturity4.433%Sep 1, 2026Yield to maturity4.477%Sep 3, 2026Yield to maturity4.434%Sep 8, 2026Yield to maturity4.490%Sep 9, 2026Yield to maturity4.523%

Price history

464 trading days to Sep 9, 2026

979899100101102103Oct 31, 2024Sep 9, 2026Oct 31, 2024Close99.906Nov 4, 2024Close99.813Nov 6, 2024Close99.344Nov 8, 2024Close99.688Nov 13, 2024Close99.250Nov 15, 2024Close99.250Nov 19, 2024Close99.438Nov 21, 2024Close99.219Nov 25, 2024Close99.781Nov 27, 2024Close99.938Dec 2, 2024Close100.125Dec 4, 2024Close100.188Dec 6, 2024Close100.344Dec 10, 2024Close100.094Dec 12, 2024Close99.719Dec 16, 2024Close99.406Dec 18, 2024Close98.781Dec 20, 2024Close98.875Dec 24, 2024Close98.594Dec 27, 2024Close98.563Dec 31, 2024Close98.875Jan 3, 2025Close98.750Jan 7, 2025Close98.531Jan 9, 2025Close98.563Jan 13, 2025Close97.906Jan 15, 2025Close98.594Jan 17, 2025Close98.750Jan 22, 2025Close98.688Jan 24, 2025Close98.688Jan 28, 2025Close99.094Jan 30, 2025Close99.188Feb 3, 2025Close99.031Feb 5, 2025Close99.500Feb 7, 2025Close99.063Feb 11, 2025Close98.938Feb 13, 2025Close98.875Feb 18, 2025Close98.844Feb 20, 2025Close99.063Feb 24, 2025Close99.563Feb 26, 2025Close100.188Feb 28, 2025Close100.375Mar 4, 2025Close100.469Mar 6, 2025Close100.250Mar 10, 2025Close100.594Mar 12, 2025Close100.188Mar 14, 2025Close100.125Mar 18, 2025Close100.188Mar 20, 2025Close100.469Mar 24, 2025Close100.125Mar 26, 2025Close100.156Mar 28, 2025Close100.625Apr 1, 2025Close100.906Apr 3, 2025Close101.594Apr 7, 2025Close101.313Apr 9, 2025Close100.313Apr 11, 2025Close99.906Apr 15, 2025Close100.625Apr 17, 2025Close100.813Apr 21, 2025Close100.781Apr 23, 2025Close100.563Apr 25, 2025Close101.063Apr 29, 2025Close101.563May 1, 2025Close101.375May 5, 2025Close100.844May 7, 2025Close101.125May 9, 2025Close100.594May 13, 2025Close100.063May 15, 2025Close100.281May 19, 2025Close100.313May 21, 2025Close100.000May 23, 2025Close100.219May 28, 2025Close100.313May 30, 2025Close100.656Jun 3, 2025Close100.438Jun 5, 2025Close100.563Jun 9, 2025Close100.188Jun 11, 2025Close100.500Jun 13, 2025Close100.500Jun 17, 2025Close100.625Jun 20, 2025Close100.719Jun 24, 2025Close101.156Jun 26, 2025Close101.406Jun 30, 2025Close101.438Jul 2, 2025Close101.125Jul 7, 2025Close100.750Jul 9, 2025Close100.938Jul 11, 2025Close100.656Jul 15, 2025Close100.406Jul 17, 2025Close100.594Jul 21, 2025Close100.969Jul 23, 2025Close100.844Jul 25, 2025Close100.781Jul 29, 2025Close100.969Jul 31, 2025Close100.719Aug 4, 2025Close101.594Aug 6, 2025Close101.531Aug 8, 2025Close101.250Aug 12, 2025Close101.281Aug 14, 2025Close101.313Aug 18, 2025Close101.188Aug 20, 2025Close101.375Aug 22, 2025Close101.563Aug 26, 2025Close101.625Aug 28, 2025Close101.781Sep 2, 2025Close101.625Sep 4, 2025Close101.969Sep 8, 2025Close102.250Sep 10, 2025Close102.156Sep 12, 2025Close102.000Sep 16, 2025Close102.156Sep 18, 2025Close101.875Sep 22, 2025Close101.750Sep 24, 2025Close101.688Sep 26, 2025Close101.469Sep 30, 2025Close101.594Oct 2, 2025Close101.844Oct 6, 2025Close101.563Oct 8, 2025Close101.656Oct 10, 2025Close101.938Oct 15, 2025Close102.031Oct 17, 2025Close102.156Oct 21, 2025Close102.250Oct 23, 2025Close102.094Oct 27, 2025Close102.031Oct 29, 2025Close101.719Oct 31, 2025Close101.688Nov 4, 2025Close101.750Nov 6, 2025Close101.781Nov 10, 2025Close101.688Nov 13, 2025Close101.688Nov 17, 2025Close101.625Nov 19, 2025Close101.719Nov 21, 2025Close102.031Nov 25, 2025Close102.188Nov 28, 2025Close102.063Dec 2, 2025Close101.906Dec 4, 2025Close101.813Dec 8, 2025Close101.563Dec 10, 2025Close101.688Dec 12, 2025Close101.594Dec 16, 2025Close101.844Dec 18, 2025Close101.938Dec 22, 2025Close101.750Dec 24, 2025Close101.719Dec 29, 2025Close101.875Dec 31, 2025Close101.719Jan 5, 2026Close101.781Jan 7, 2026Close101.813Jan 9, 2026Close101.563Jan 13, 2026Close101.625Jan 15, 2026Close101.500Jan 20, 2026Close101.250Jan 22, 2026Close101.250Jan 26, 2026Close101.344Jan 28, 2026Close101.313Jan 30, 2026Close101.500Feb 3, 2026Close101.344Feb 5, 2026Close101.688Feb 9, 2026Close101.656Feb 11, 2026Close101.625Feb 13, 2026Close102.094Feb 18, 2026Close101.906Feb 20, 2026Close101.906Feb 24, 2026Close102.063Feb 26, 2026Close102.125Mar 2, 2026Close101.969Mar 4, 2026Close101.750Mar 6, 2026Close101.594Mar 10, 2026Close101.594Mar 12, 2026Close101.000Mar 16, 2026Close101.281Mar 18, 2026Close101.031Mar 20, 2026Close100.531Mar 24, 2026Close100.469Mar 26, 2026Close100.250Mar 30, 2026Close100.719Apr 1, 2026Close100.750Apr 3, 2026Close100.656Apr 7, 2026Close100.750Apr 9, 2026Close100.906Apr 13, 2026Close100.906Apr 15, 2026Close100.969Apr 17, 2026Close101.156Apr 21, 2026Close100.938Apr 23, 2026Close100.781Apr 27, 2026Close100.813Apr 29, 2026Close100.438May 1, 2026Close100.563May 5, 2026Close100.375May 7, 2026Close100.469May 11, 2026Close100.375May 13, 2026Close100.219May 15, 2026Close99.781May 19, 2026Close99.594May 21, 2026Close99.813May 26, 2026Close99.969May 28, 2026Close100.063Jun 1, 2026Close99.969Jun 3, 2026Close99.875Jun 5, 2026Close99.594Jun 9, 2026Close99.719Jun 11, 2026Close99.969Jun 15, 2026Close99.969Jun 17, 2026Close99.594Jun 22, 2026Close99.563Jun 24, 2026Close99.875Jun 26, 2026Close100.063Jun 30, 2026Close99.875Jul 2, 2026Close99.781Jul 7, 2026Close99.688Jul 9, 2026Close99.719Jul 13, 2026Close99.406Jul 15, 2026Close99.781Jul 17, 2026Close99.656Jul 21, 2026Close99.406Jul 23, 2026Close99.125Jul 27, 2026Close99.250Jul 29, 2026Close99.438Jul 31, 2026Close99.250Aug 4, 2026Close99.563Aug 6, 2026Close99.375Aug 10, 2026Close99.375Aug 12, 2026Close99.500Aug 14, 2026Close99.563Aug 18, 2026Close99.531Aug 20, 2026Close99.500Aug 24, 2026Close99.406Aug 26, 2026Close99.438Aug 28, 2026Close99.094Sep 1, 2026Close98.969Sep 3, 2026Close99.094Sep 8, 2026Close98.938Sep 9, 2026Close98.844
The most recent 20 trading days of prices for 91282CLR0.
DateBidOfferClose
Sep 9, 202698.82898.81398.844
Sep 8, 202698.96998.96998.938
Sep 4, 202699.01699.00099.000
Sep 3, 202699.14199.12599.094
Sep 2, 202698.98498.96998.969
Sep 1, 202699.04799.03198.969
Aug 31, 202699.14199.12599.125
Aug 28, 202699.20399.18899.094
Aug 27, 202699.48499.46999.406
Aug 26, 202699.48499.46999.438
Aug 25, 202699.54799.53199.563
Aug 24, 202699.45399.43899.406
Aug 21, 202699.35999.34499.375
Aug 20, 202699.50099.50099.500
Aug 19, 202699.54799.53199.563
Aug 18, 202699.54799.53199.531
Aug 17, 202699.57899.56399.531
Aug 14, 202699.62599.62599.563
Aug 13, 202699.67299.65699.656
Aug 12, 202699.54799.53199.500

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 91282CLR0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 28, 2024Oct 31, 2024New issue$70.0bn$71.2bn2.39x4.138%

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.