Treasury note

91282CMG3 · 4.25% due January 31, 2030

Original term
5-Year
Maturity
Jan 31, 2030
Coupon
4.250%
Pays
Semi-Annual
Dated
Jan 31, 2025
First coupon
Jul 31, 2025
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$73.89bn
Held stripped
$163.2m
Share stripped
0.22%

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
4.540%
Modified duration
3.106 yr
DV01
0.0309
Convexity
11.566
Dirty price
99.567

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 3.179 years against a modified duration of 3.106.

Against the fitted curve

Priced 2.1 bp rich to the curve on that day, 6.56 cents per 100 of face.

That is -1.90 standard deviations from its own typical residual.

Yield to maturity, 403 observations

3.4%3.6%3.8%4.0%4.2%4.4%4.6%Jan 31, 2025Sep 9, 2026Jan 31, 2025Yield to maturity4.362%Feb 4, 2025Yield to maturity4.313%Feb 6, 2025Yield to maturity4.278%Feb 10, 2025Yield to maturity4.341%Feb 12, 2025Yield to maturity4.477%Feb 14, 2025Yield to maturity4.327%Feb 19, 2025Yield to maturity4.370%Feb 21, 2025Yield to maturity4.257%Feb 25, 2025Yield to maturity4.129%Feb 27, 2025Yield to maturity4.101%Mar 3, 2025Yield to maturity3.974%Mar 5, 2025Yield to maturity4.079%Mar 7, 2025Yield to maturity4.100%Mar 11, 2025Yield to maturity4.036%Mar 13, 2025Yield to maturity4.036%Mar 17, 2025Yield to maturity4.113%Mar 19, 2025Yield to maturity4.035%Mar 21, 2025Yield to maturity4.006%Mar 25, 2025Yield to maturity4.070%Mar 27, 2025Yield to maturity4.098%Mar 31, 2025Yield to maturity3.962%Apr 2, 2025Yield to maturity3.955%Apr 4, 2025Yield to maturity3.720%Apr 8, 2025Yield to maturity3.883%Apr 10, 2025Yield to maturity4.032%Apr 14, 2025Yield to maturity4.017%Apr 16, 2025Yield to maturity3.895%Apr 18, 2025Yield to maturity3.945%Apr 22, 2025Yield to maturity3.973%Apr 24, 2025Yield to maturity3.923%Apr 28, 2025Yield to maturity3.807%Apr 30, 2025Yield to maturity3.713%May 2, 2025Yield to maturity3.914%May 6, 2025Yield to maturity3.892%May 8, 2025Yield to maturity3.993%May 12, 2025Yield to maturity4.094%May 14, 2025Yield to maturity4.160%May 16, 2025Yield to maturity4.057%May 20, 2025Yield to maturity4.057%May 22, 2025Yield to maturity4.101%May 27, 2025Yield to maturity4.020%May 29, 2025Yield to maturity4.005%Jun 2, 2025Yield to maturity4.012%Jun 4, 2025Yield to maturity3.930%Jun 6, 2025Yield to maturity4.130%Jun 10, 2025Yield to maturity4.077%Jun 12, 2025Yield to maturity3.959%Jun 16, 2025Yield to maturity4.032%Jun 18, 2025Yield to maturity3.972%Jun 23, 2025Yield to maturity3.890%Jun 25, 2025Yield to maturity3.830%Jun 27, 2025Yield to maturity3.815%Jul 1, 2025Yield to maturity3.829%Jul 3, 2025Yield to maturity3.925%Jul 8, 2025Yield to maturity3.970%Jul 10, 2025Yield to maturity3.917%Jul 14, 2025Yield to maturity3.961%Jul 16, 2025Yield to maturity3.969%Jul 18, 2025Yield to maturity3.938%Jul 22, 2025Yield to maturity3.862%Jul 24, 2025Yield to maturity3.960%Jul 28, 2025Yield to maturity3.952%Jul 30, 2025Yield to maturity3.944%Aug 1, 2025Yield to maturity3.746%Aug 5, 2025Yield to maturity3.746%Aug 7, 2025Yield to maturity3.775%Aug 11, 2025Yield to maturity3.812%Aug 13, 2025Yield to maturity3.751%Aug 15, 2025Yield to maturity3.826%Aug 19, 2025Yield to maturity3.803%Aug 21, 2025Yield to maturity3.840%Aug 25, 2025Yield to maturity3.770%Aug 27, 2025Yield to maturity3.686%Aug 29, 2025Yield to maturity3.669%Sep 3, 2025Yield to maturity3.668%Sep 5, 2025Yield to maturity3.567%Sep 9, 2025Yield to maturity3.582%Sep 11, 2025Yield to maturity3.566%Sep 15, 2025Yield to maturity3.587%Sep 17, 2025Yield to maturity3.594%Sep 19, 2025Yield to maturity3.662%Sep 23, 2025Yield to maturity3.646%Sep 25, 2025Yield to maturity3.738%Sep 29, 2025Yield to maturity3.721%Oct 1, 2025Yield to maturity3.659%Oct 3, 2025Yield to maturity3.688%Oct 7, 2025Yield to maturity3.680%Oct 9, 2025Yield to maturity3.710%Oct 14, 2025Yield to maturity3.568%Oct 16, 2025Yield to maturity3.513%Oct 20, 2025Yield to maturity3.550%Oct 22, 2025Yield to maturity3.526%Oct 24, 2025Yield to maturity3.571%Oct 28, 2025Yield to maturity3.578%Oct 30, 2025Yield to maturity3.696%Nov 3, 2025Yield to maturity3.687%Nov 5, 2025Yield to maturity3.734%Nov 7, 2025Yield to maturity3.645%Nov 12, 2025Yield to maturity3.644%Nov 14, 2025Yield to maturity3.706%Nov 18, 2025Yield to maturity3.658%Nov 20, 2025Yield to maturity3.633%Nov 24, 2025Yield to maturity3.568%Nov 26, 2025Yield to maturity3.542%Dec 1, 2025Yield to maturity3.629%Dec 3, 2025Yield to maturity3.580%Dec 5, 2025Yield to maturity3.667%Dec 9, 2025Yield to maturity3.731%Dec 11, 2025Yield to maturity3.666%Dec 15, 2025Yield to maturity3.673%Dec 17, 2025Yield to maturity3.640%Dec 19, 2025Yield to maturity3.638%Dec 23, 2025Yield to maturity3.678%Dec 26, 2025Yield to maturity3.636%Dec 30, 2025Yield to maturity3.610%Jan 2, 2026Yield to maturity3.666%Jan 6, 2026Yield to maturity3.641%Jan 8, 2026Yield to maturity3.665%Jan 12, 2026Yield to maturity3.696%Jan 14, 2026Yield to maturity3.654%Jan 16, 2026Yield to maturity3.761%Jan 21, 2026Yield to maturity3.760%Jan 23, 2026Yield to maturity3.767%Jan 27, 2026Yield to maturity3.750%Jan 29, 2026Yield to maturity3.724%Feb 2, 2026Yield to maturity3.748%Feb 4, 2026Yield to maturity3.756%Feb 6, 2026Yield to maturity3.679%Feb 10, 2026Yield to maturity3.619%Feb 12, 2026Yield to maturity3.601%Feb 17, 2026Yield to maturity3.557%Feb 19, 2026Yield to maturity3.581%Feb 23, 2026Yield to maturity3.520%Feb 25, 2026Yield to maturity3.562%Feb 27, 2026Yield to maturity3.458%Mar 3, 2026Yield to maturity3.576%Mar 5, 2026Yield to maturity3.660%Mar 9, 2026Yield to maturity3.650%Mar 11, 2026Yield to maturity3.727%Mar 13, 2026Yield to maturity3.820%Mar 17, 2026Yield to maturity3.742%Mar 19, 2026Yield to maturity3.845%Mar 23, 2026Yield to maturity3.923%Mar 25, 2026Yield to maturity3.940%Mar 27, 2026Yield to maturity4.009%Mar 31, 2026Yield to maturity3.877%Apr 2, 2026Yield to maturity3.885%Apr 6, 2026Yield to maturity3.928%Apr 8, 2026Yield to maturity3.866%Apr 10, 2026Yield to maturity3.883%Apr 14, 2026Yield to maturity3.820%Apr 16, 2026Yield to maturity3.855%Apr 20, 2026Yield to maturity3.792%Apr 22, 2026Yield to maturity3.862%Apr 24, 2026Yield to maturity3.852%Apr 28, 2026Yield to maturity3.924%Apr 30, 2026Yield to maturity3.959%May 4, 2026Yield to maturity4.030%May 6, 2026Yield to maturity3.940%May 8, 2026Yield to maturity3.966%May 12, 2026Yield to maturity4.075%May 14, 2026Yield to maturity4.084%May 18, 2026Yield to maturity4.202%May 20, 2026Yield to maturity4.166%May 22, 2026Yield to maturity4.221%May 27, 2026Yield to maturity4.138%May 29, 2026Yield to maturity4.100%Jun 2, 2026Yield to maturity4.137%Jun 4, 2026Yield to maturity4.146%Jun 8, 2026Yield to maturity4.258%Jun 10, 2026Yield to maturity4.230%Jun 12, 2026Yield to maturity4.174%Jun 16, 2026Yield to maturity4.118%Jun 18, 2026Yield to maturity4.221%Jun 23, 2026Yield to maturity4.249%Jun 25, 2026Yield to maturity4.145%Jun 29, 2026Yield to maturity4.126%Jul 1, 2026Yield to maturity4.211%Jul 6, 2026Yield to maturity4.173%Jul 8, 2026Yield to maturity4.268%Jul 10, 2026Yield to maturity4.269%Jul 14, 2026Yield to maturity4.269%Jul 16, 2026Yield to maturity4.240%Jul 20, 2026Yield to maturity4.279%Jul 22, 2026Yield to maturity4.375%Jul 24, 2026Yield to maturity4.395%Jul 28, 2026Yield to maturity4.328%Jul 30, 2026Yield to maturity4.337%Aug 3, 2026Yield to maturity4.357%Aug 5, 2026Yield to maturity4.279%Aug 7, 2026Yield to maturity4.289%Aug 11, 2026Yield to maturity4.338%Aug 13, 2026Yield to maturity4.259%Aug 17, 2026Yield to maturity4.299%Aug 19, 2026Yield to maturity4.289%Aug 21, 2026Yield to maturity4.358%Aug 25, 2026Yield to maturity4.289%Aug 27, 2026Yield to maturity4.338%Aug 31, 2026Yield to maturity4.438%Sep 2, 2026Yield to maturity4.489%Sep 4, 2026Yield to maturity4.489%Sep 9, 2026Yield to maturity4.540%

Price history

403 trading days to Sep 9, 2026

99100101102103Jan 31, 2025Sep 9, 2026Jan 31, 2025Close99.500Feb 4, 2025Close99.719Feb 6, 2025Close99.875Feb 10, 2025Close99.594Feb 12, 2025Close99.000Feb 14, 2025Close99.656Feb 19, 2025Close99.469Feb 21, 2025Close99.969Feb 25, 2025Close100.531Feb 27, 2025Close100.656Mar 3, 2025Close101.219Mar 5, 2025Close100.750Mar 7, 2025Close100.656Mar 11, 2025Close100.938Mar 13, 2025Close100.938Mar 17, 2025Close100.594Mar 19, 2025Close100.938Mar 21, 2025Close101.063Mar 25, 2025Close100.781Mar 27, 2025Close100.656Mar 31, 2025Close101.250Apr 2, 2025Close101.281Apr 4, 2025Close102.313Apr 8, 2025Close101.594Apr 10, 2025Close100.938Apr 14, 2025Close101.000Apr 16, 2025Close101.531Apr 18, 2025Close101.313Apr 22, 2025Close101.188Apr 24, 2025Close101.406Apr 28, 2025Close101.906Apr 30, 2025Close102.313May 2, 2025Close101.438May 6, 2025Close101.531May 8, 2025Close101.094May 12, 2025Close100.656May 14, 2025Close100.375May 16, 2025Close100.813May 20, 2025Close100.813May 22, 2025Close100.625May 27, 2025Close100.969May 29, 2025Close101.031Jun 2, 2025Close101.000Jun 4, 2025Close101.344Jun 6, 2025Close100.500Jun 10, 2025Close100.719Jun 12, 2025Close101.219Jun 16, 2025Close100.906Jun 18, 2025Close101.156Jun 23, 2025Close101.500Jun 25, 2025Close101.750Jun 27, 2025Close101.813Jul 1, 2025Close101.750Jul 3, 2025Close101.344Jul 8, 2025Close101.156Jul 10, 2025Close101.375Jul 14, 2025Close101.188Jul 16, 2025Close101.156Jul 18, 2025Close101.281Jul 22, 2025Close101.594Jul 24, 2025Close101.188Jul 28, 2025Close101.219Jul 30, 2025Close101.250Aug 1, 2025Close102.063Aug 5, 2025Close102.063Aug 7, 2025Close101.938Aug 11, 2025Close101.781Aug 13, 2025Close102.031Aug 15, 2025Close101.719Aug 19, 2025Close101.813Aug 21, 2025Close101.656Aug 25, 2025Close101.938Aug 27, 2025Close102.281Aug 29, 2025Close102.344Sep 3, 2025Close102.344Sep 5, 2025Close102.750Sep 9, 2025Close102.688Sep 11, 2025Close102.750Sep 15, 2025Close102.656Sep 17, 2025Close102.625Sep 19, 2025Close102.344Sep 23, 2025Close102.406Sep 25, 2025Close102.031Sep 29, 2025Close102.094Oct 1, 2025Close102.344Oct 3, 2025Close102.219Oct 7, 2025Close102.250Oct 9, 2025Close102.125Oct 14, 2025Close102.688Oct 16, 2025Close102.906Oct 20, 2025Close102.750Oct 22, 2025Close102.844Oct 24, 2025Close102.656Oct 28, 2025Close102.625Oct 30, 2025Close102.156Nov 3, 2025Close102.188Nov 5, 2025Close102.000Nov 7, 2025Close102.344Nov 12, 2025Close102.344Nov 14, 2025Close102.094Nov 18, 2025Close102.281Nov 20, 2025Close102.375Nov 24, 2025Close102.625Nov 26, 2025Close102.719Dec 1, 2025Close102.375Dec 3, 2025Close102.563Dec 5, 2025Close102.219Dec 9, 2025Close101.969Dec 11, 2025Close102.219Dec 15, 2025Close102.188Dec 17, 2025Close102.313Dec 19, 2025Close102.313Dec 23, 2025Close102.156Dec 26, 2025Close102.313Dec 30, 2025Close102.406Jan 2, 2026Close102.188Jan 6, 2026Close102.281Jan 8, 2026Close102.188Jan 12, 2026Close102.063Jan 14, 2026Close102.219Jan 16, 2026Close101.813Jan 21, 2026Close101.813Jan 23, 2026Close101.781Jan 27, 2026Close101.844Jan 29, 2026Close101.938Feb 2, 2026Close101.844Feb 4, 2026Close101.813Feb 6, 2026Close102.094Feb 10, 2026Close102.313Feb 12, 2026Close102.375Feb 17, 2026Close102.531Feb 19, 2026Close102.438Feb 23, 2026Close102.656Feb 25, 2026Close102.500Feb 27, 2026Close102.875Mar 3, 2026Close102.438Mar 5, 2026Close102.125Mar 9, 2026Close102.156Mar 11, 2026Close101.875Mar 13, 2026Close101.531Mar 17, 2026Close101.813Mar 19, 2026Close101.438Mar 23, 2026Close101.156Mar 25, 2026Close101.094Mar 27, 2026Close100.844Mar 31, 2026Close101.313Apr 2, 2026Close101.281Apr 6, 2026Close101.125Apr 8, 2026Close101.344Apr 10, 2026Close101.281Apr 14, 2026Close101.500Apr 16, 2026Close101.375Apr 20, 2026Close101.594Apr 22, 2026Close101.344Apr 24, 2026Close101.375Apr 28, 2026Close101.125Apr 30, 2026Close101.000May 4, 2026Close100.750May 6, 2026Close101.063May 8, 2026Close100.969May 12, 2026Close100.594May 14, 2026Close100.563May 18, 2026Close100.156May 20, 2026Close100.281May 22, 2026Close100.094May 27, 2026Close100.375May 29, 2026Close100.500Jun 2, 2026Close100.375Jun 4, 2026Close100.344Jun 8, 2026Close99.969Jun 10, 2026Close100.063Jun 12, 2026Close100.250Jun 16, 2026Close100.438Jun 18, 2026Close100.094Jun 23, 2026Close100.000Jun 25, 2026Close100.344Jun 29, 2026Close100.406Jul 1, 2026Close100.125Jul 6, 2026Close100.250Jul 8, 2026Close99.938Jul 10, 2026Close99.938Jul 14, 2026Close99.938Jul 16, 2026Close100.031Jul 20, 2026Close99.906Jul 22, 2026Close99.594Jul 24, 2026Close99.531Jul 28, 2026Close99.750Jul 30, 2026Close99.719Aug 3, 2026Close99.656Aug 5, 2026Close99.906Aug 7, 2026Close99.875Aug 11, 2026Close99.719Aug 13, 2026Close99.969Aug 17, 2026Close99.844Aug 19, 2026Close99.875Aug 21, 2026Close99.656Aug 25, 2026Close99.875Aug 27, 2026Close99.719Aug 31, 2026Close99.406Sep 2, 2026Close99.250Sep 4, 2026Close99.250Sep 9, 2026Close99.094
The most recent 20 trading days of prices for 91282CMG3.
DateBidOfferClose
Sep 9, 202699.09499.06399.094
Sep 8, 202699.23499.21999.188
Sep 4, 202699.29799.28199.250
Sep 3, 202699.42299.40699.375
Sep 2, 202699.23499.21999.250
Sep 1, 202699.32899.31399.219
Aug 31, 202699.40699.40699.406
Aug 28, 202699.48499.46999.406
Aug 27, 202699.79799.78199.719
Aug 26, 202699.79799.78199.781
Aug 25, 202699.85999.84499.875
Aug 24, 202699.75099.75099.688
Aug 21, 202699.67299.65699.656
Aug 20, 202699.79799.78199.813
Aug 19, 202699.85999.84499.875
Aug 18, 202699.85999.84499.844
Aug 17, 202699.89199.87599.844
Aug 14, 202699.93899.93899.875
Aug 13, 202699.98499.96999.969
Aug 12, 202699.85999.84499.813

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 91282CMG3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 27, 2025Jan 31, 2025New issue$70.0bn$73.9bn2.40x4.330%

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.