Treasury note

91282CPM7 · 3.75% due November 30, 2032

Original term
7-Year
Maturity
Nov 30, 2032
Coupon
3.750%
Pays
Semi-Annual
Dated
Nov 30, 2025
First coupon
May 31, 2026
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$49.03bn
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
4.685%
Modified duration
5.401 yr
DV01
0.0519
Convexity
34.174
Dirty price
96.045

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 5.527 years against a modified duration of 5.401.

Against the fitted curve

Priced 2.4 bp cheap to the curve on that day, 12.39 cents per 100 of face.

That is 0.59 standard deviations from its own typical residual.

Yield to maturity, 195 observations

3.6%3.8%4.0%4.2%4.4%4.6%4.8%Dec 1, 2025Sep 9, 2026Dec 1, 2025Yield to maturity3.863%Dec 2, 2025Yield to maturity3.853%Dec 3, 2025Yield to maturity3.817%Dec 4, 2025Yield to maturity3.873%Dec 5, 2025Yield to maturity3.905%Dec 8, 2025Yield to maturity3.941%Dec 9, 2025Yield to maturity3.962%Dec 10, 2025Yield to maturity3.915%Dec 11, 2025Yield to maturity3.910%Dec 12, 2025Yield to maturity3.952%Dec 15, 2025Yield to maturity3.936%Dec 16, 2025Yield to maturity3.900%Dec 17, 2025Yield to maturity3.905%Dec 18, 2025Yield to maturity3.869%Dec 19, 2025Yield to maturity3.905%Dec 22, 2025Yield to maturity3.926%Dec 23, 2025Yield to maturity3.937%Dec 24, 2025Yield to maturity3.916%Dec 26, 2025Yield to maturity3.895%Dec 29, 2025Yield to maturity3.874%Dec 30, 2025Yield to maturity3.885%Dec 31, 2025Yield to maturity3.937%Jan 2, 2026Yield to maturity3.948%Jan 5, 2026Yield to maturity3.916%Jan 6, 2026Yield to maturity3.927%Jan 7, 2026Yield to maturity3.895%Jan 8, 2026Yield to maturity3.943%Jan 9, 2026Yield to maturity3.948%Jan 12, 2026Yield to maturity3.959%Jan 13, 2026Yield to maturity3.943%Jan 14, 2026Yield to maturity3.912%Jan 15, 2026Yield to maturity3.954%Jan 16, 2026Yield to maturity4.012%Jan 20, 2026Yield to maturity4.065%Jan 21, 2026Yield to maturity4.034%Jan 22, 2026Yield to maturity4.039%Jan 23, 2026Yield to maturity4.023%Jan 26, 2026Yield to maturity4.007%Jan 27, 2026Yield to maturity4.018%Jan 28, 2026Yield to maturity4.040%Jan 29, 2026Yield to maturity4.008%Jan 30, 2026Yield to maturity4.008%Feb 2, 2026Yield to maturity4.040%Feb 3, 2026Yield to maturity4.035%Feb 4, 2026Yield to maturity4.046%Feb 5, 2026Yield to maturity3.950%Feb 6, 2026Yield to maturity3.961%Feb 9, 2026Yield to maturity3.955%Feb 10, 2026Yield to maturity3.902%Feb 11, 2026Yield to maturity3.945%Feb 12, 2026Yield to maturity3.860%Feb 13, 2026Yield to maturity3.797%Feb 17, 2026Yield to maturity3.813%Feb 18, 2026Yield to maturity3.844%Feb 19, 2026Yield to maturity3.834%Feb 20, 2026Yield to maturity3.839%Feb 23, 2026Yield to maturity3.776%Feb 24, 2026Yield to maturity3.792%Feb 25, 2026Yield to maturity3.802%Feb 26, 2026Yield to maturity3.765%Feb 27, 2026Yield to maturity3.707%Mar 2, 2026Yield to maturity3.797%Mar 3, 2026Yield to maturity3.813%Mar 4, 2026Yield to maturity3.850%Mar 5, 2026Yield to maturity3.898%Mar 6, 2026Yield to maturity3.909%Mar 9, 2026Yield to maturity3.882%Mar 10, 2026Yield to maturity3.909%Mar 11, 2026Yield to maturity3.968%Mar 12, 2026Yield to maturity4.049%Mar 13, 2026Yield to maturity4.050%Mar 16, 2026Yield to maturity3.985%Mar 17, 2026Yield to maturity3.963%Mar 18, 2026Yield to maturity4.034%Mar 19, 2026Yield to maturity4.045%Mar 20, 2026Yield to maturity4.187%Mar 23, 2026Yield to maturity4.132%Mar 24, 2026Yield to maturity4.198%Mar 25, 2026Yield to maturity4.133%Mar 26, 2026Yield to maturity4.248%Mar 27, 2026Yield to maturity4.243%Mar 30, 2026Yield to maturity4.144%Mar 31, 2026Yield to maturity4.095%Apr 1, 2026Yield to maturity4.128%Apr 2, 2026Yield to maturity4.106%Apr 3, 2026Yield to maturity4.151%Apr 6, 2026Yield to maturity4.145%Apr 7, 2026Yield to maturity4.118%Apr 8, 2026Yield to maturity4.080%Apr 9, 2026Yield to maturity4.080%Apr 10, 2026Yield to maturity4.102%Apr 13, 2026Yield to maturity4.080%Apr 14, 2026Yield to maturity4.031%Apr 15, 2026Yield to maturity4.059%Apr 16, 2026Yield to maturity4.081%Apr 17, 2026Yield to maturity4.010%Apr 20, 2026Yield to maturity4.021%Apr 21, 2026Yield to maturity4.065%Apr 22, 2026Yield to maturity4.076%Apr 23, 2026Yield to maturity4.115%Apr 24, 2026Yield to maturity4.077%Apr 27, 2026Yield to maturity4.115%Apr 28, 2026Yield to maturity4.138%Apr 29, 2026Yield to maturity4.205%Apr 30, 2026Yield to maturity4.177%May 1, 2026Yield to maturity4.172%May 4, 2026Yield to maturity4.239%May 5, 2026Yield to maturity4.222%May 6, 2026Yield to maturity4.145%May 7, 2026Yield to maturity4.195%May 8, 2026Yield to maturity4.162%May 11, 2026Yield to maturity4.212%May 12, 2026Yield to maturity4.269%May 13, 2026Yield to maturity4.258%May 14, 2026Yield to maturity4.263%May 15, 2026Yield to maturity4.400%May 18, 2026Yield to maturity4.405%May 19, 2026Yield to maturity4.468%May 20, 2026Yield to maturity4.366%May 21, 2026Yield to maturity4.378%May 22, 2026Yield to maturity4.385%May 26, 2026Yield to maturity4.305%May 27, 2026Yield to maturity4.294%May 28, 2026Yield to maturity4.272%May 29, 2026Yield to maturity4.261%Jun 1, 2026Yield to maturity4.295%Jun 2, 2026Yield to maturity4.284%Jun 3, 2026Yield to maturity4.324%Jun 4, 2026Yield to maturity4.296%Jun 5, 2026Yield to maturity4.388%Jun 8, 2026Yield to maturity4.394%Jun 9, 2026Yield to maturity4.359%Jun 10, 2026Yield to maturity4.377%Jun 11, 2026Yield to maturity4.280%Jun 12, 2026Yield to maturity4.315%Jun 15, 2026Yield to maturity4.292%Jun 16, 2026Yield to maturity4.253%Jun 17, 2026Yield to maturity4.350%Jun 18, 2026Yield to maturity4.316%Jun 22, 2026Yield to maturity4.374%Jun 23, 2026Yield to maturity4.357%Jun 24, 2026Yield to maturity4.260%Jun 25, 2026Yield to maturity4.243%Jun 26, 2026Yield to maturity4.215%Jun 29, 2026Yield to maturity4.221%Jun 30, 2026Yield to maturity4.278%Jul 1, 2026Yield to maturity4.324%Jul 2, 2026Yield to maturity4.325%Jul 6, 2026Yield to maturity4.302%Jul 7, 2026Yield to maturity4.371%Jul 8, 2026Yield to maturity4.400%Jul 9, 2026Yield to maturity4.366%Jul 10, 2026Yield to maturity4.396%Jul 13, 2026Yield to maturity4.454%Jul 14, 2026Yield to maturity4.408%Jul 15, 2026Yield to maturity4.356%Jul 16, 2026Yield to maturity4.379%Jul 17, 2026Yield to maturity4.368%Jul 20, 2026Yield to maturity4.415%Jul 21, 2026Yield to maturity4.462%Jul 22, 2026Yield to maturity4.503%Jul 23, 2026Yield to maturity4.544%Jul 24, 2026Yield to maturity4.516%Jul 27, 2026Yield to maturity4.487%Jul 28, 2026Yield to maturity4.440%Jul 29, 2026Yield to maturity4.475%Jul 30, 2026Yield to maturity4.482%Jul 31, 2026Yield to maturity4.553%Aug 3, 2026Yield to maturity4.500%Aug 4, 2026Yield to maturity4.430%Aug 5, 2026Yield to maturity4.430%Aug 6, 2026Yield to maturity4.489%Aug 7, 2026Yield to maturity4.443%Aug 10, 2026Yield to maturity4.514%Aug 11, 2026Yield to maturity4.497%Aug 12, 2026Yield to maturity4.473%Aug 13, 2026Yield to maturity4.421%Aug 14, 2026Yield to maturity4.469%Aug 17, 2026Yield to maturity4.487%Aug 18, 2026Yield to maturity4.481%Aug 19, 2026Yield to maturity4.440%Aug 20, 2026Yield to maturity4.482%Aug 21, 2026Yield to maturity4.524%Aug 24, 2026Yield to maturity4.506%Aug 25, 2026Yield to maturity4.436%Aug 26, 2026Yield to maturity4.465%Aug 27, 2026Yield to maturity4.484%Aug 28, 2026Yield to maturity4.568%Aug 31, 2026Yield to maturity4.580%Sep 1, 2026Yield to maturity4.634%Sep 2, 2026Yield to maturity4.628%Sep 3, 2026Yield to maturity4.599%Sep 4, 2026Yield to maturity4.624%Sep 8, 2026Yield to maturity4.642%Sep 9, 2026Yield to maturity4.685%

Price history

195 trading days to Sep 9, 2026

9596979899100101Dec 1, 2025Sep 9, 2026Dec 1, 2025Close99.313Dec 2, 2025Close99.375Dec 3, 2025Close99.594Dec 4, 2025Close99.250Dec 5, 2025Close99.063Dec 8, 2025Close98.844Dec 9, 2025Close98.719Dec 10, 2025Close99.000Dec 11, 2025Close99.031Dec 12, 2025Close98.781Dec 15, 2025Close98.875Dec 16, 2025Close99.094Dec 17, 2025Close99.063Dec 18, 2025Close99.281Dec 19, 2025Close99.063Dec 22, 2025Close98.938Dec 23, 2025Close98.875Dec 24, 2025Close99.000Dec 26, 2025Close99.125Dec 29, 2025Close99.250Dec 30, 2025Close99.188Dec 31, 2025Close98.875Jan 2, 2026Close98.813Jan 5, 2026Close99.000Jan 6, 2026Close98.938Jan 7, 2026Close99.125Jan 8, 2026Close98.844Jan 9, 2026Close98.813Jan 12, 2026Close98.750Jan 13, 2026Close98.844Jan 14, 2026Close99.031Jan 15, 2026Close98.781Jan 16, 2026Close98.438Jan 20, 2026Close98.125Jan 21, 2026Close98.313Jan 22, 2026Close98.281Jan 23, 2026Close98.375Jan 26, 2026Close98.469Jan 27, 2026Close98.406Jan 28, 2026Close98.281Jan 29, 2026Close98.469Jan 30, 2026Close98.469Feb 2, 2026Close98.281Feb 3, 2026Close98.313Feb 4, 2026Close98.250Feb 5, 2026Close98.813Feb 6, 2026Close98.750Feb 9, 2026Close98.781Feb 10, 2026Close99.094Feb 11, 2026Close98.844Feb 12, 2026Close99.344Feb 13, 2026Close99.719Feb 17, 2026Close99.625Feb 18, 2026Close99.438Feb 19, 2026Close99.500Feb 20, 2026Close99.469Feb 23, 2026Close99.844Feb 24, 2026Close99.750Feb 25, 2026Close99.688Feb 26, 2026Close99.906Feb 27, 2026Close100.250Mar 2, 2026Close99.719Mar 3, 2026Close99.625Mar 4, 2026Close99.406Mar 5, 2026Close99.125Mar 6, 2026Close99.063Mar 9, 2026Close99.219Mar 10, 2026Close99.063Mar 11, 2026Close98.719Mar 12, 2026Close98.250Mar 13, 2026Close98.250Mar 16, 2026Close98.625Mar 17, 2026Close98.750Mar 18, 2026Close98.344Mar 19, 2026Close98.281Mar 20, 2026Close97.469Mar 23, 2026Close97.781Mar 24, 2026Close97.406Mar 25, 2026Close97.781Mar 26, 2026Close97.125Mar 27, 2026Close97.156Mar 30, 2026Close97.719Mar 31, 2026Close98.000Apr 1, 2026Close97.813Apr 2, 2026Close97.938Apr 3, 2026Close97.688Apr 6, 2026Close97.719Apr 7, 2026Close97.875Apr 8, 2026Close98.094Apr 9, 2026Close98.094Apr 10, 2026Close97.969Apr 13, 2026Close98.094Apr 14, 2026Close98.375Apr 15, 2026Close98.219Apr 16, 2026Close98.094Apr 17, 2026Close98.500Apr 20, 2026Close98.438Apr 21, 2026Close98.188Apr 22, 2026Close98.125Apr 23, 2026Close97.906Apr 24, 2026Close98.125Apr 27, 2026Close97.906Apr 28, 2026Close97.781Apr 29, 2026Close97.406Apr 30, 2026Close97.563May 1, 2026Close97.594May 4, 2026Close97.219May 5, 2026Close97.313May 6, 2026Close97.750May 7, 2026Close97.469May 8, 2026Close97.656May 11, 2026Close97.375May 12, 2026Close97.063May 13, 2026Close97.125May 14, 2026Close97.094May 15, 2026Close96.344May 18, 2026Close96.313May 19, 2026Close95.969May 20, 2026Close96.531May 21, 2026Close96.469May 22, 2026Close96.438May 26, 2026Close96.875May 27, 2026Close96.938May 28, 2026Close97.063May 29, 2026Close97.125Jun 1, 2026Close96.938Jun 2, 2026Close97.000Jun 3, 2026Close96.781Jun 4, 2026Close96.938Jun 5, 2026Close96.438Jun 8, 2026Close96.406Jun 9, 2026Close96.594Jun 10, 2026Close96.500Jun 11, 2026Close97.031Jun 12, 2026Close96.844Jun 15, 2026Close96.969Jun 16, 2026Close97.188Jun 17, 2026Close96.656Jun 18, 2026Close96.844Jun 22, 2026Close96.531Jun 23, 2026Close96.625Jun 24, 2026Close97.156Jun 25, 2026Close97.250Jun 26, 2026Close97.406Jun 29, 2026Close97.375Jun 30, 2026Close97.063Jul 1, 2026Close96.813Jul 2, 2026Close96.813Jul 6, 2026Close96.938Jul 7, 2026Close96.563Jul 8, 2026Close96.406Jul 9, 2026Close96.594Jul 10, 2026Close96.438Jul 13, 2026Close96.125Jul 14, 2026Close96.375Jul 15, 2026Close96.656Jul 16, 2026Close96.531Jul 17, 2026Close96.594Jul 20, 2026Close96.344Jul 21, 2026Close96.094Jul 22, 2026Close95.875Jul 23, 2026Close95.656Jul 24, 2026Close95.813Jul 27, 2026Close95.969Jul 28, 2026Close96.219Jul 29, 2026Close96.031Jul 30, 2026Close96.000Jul 31, 2026Close95.625Aug 3, 2026Close95.906Aug 4, 2026Close96.281Aug 5, 2026Close96.281Aug 6, 2026Close95.969Aug 7, 2026Close96.219Aug 10, 2026Close95.844Aug 11, 2026Close95.938Aug 12, 2026Close96.063Aug 13, 2026Close96.344Aug 14, 2026Close96.094Aug 17, 2026Close96.000Aug 18, 2026Close96.031Aug 19, 2026Close96.250Aug 20, 2026Close96.031Aug 21, 2026Close95.813Aug 24, 2026Close95.906Aug 25, 2026Close96.281Aug 26, 2026Close96.125Aug 27, 2026Close96.031Aug 28, 2026Close95.594Aug 31, 2026Close95.531Sep 1, 2026Close95.250Sep 2, 2026Close95.281Sep 3, 2026Close95.438Sep 4, 2026Close95.313Sep 8, 2026Close95.219Sep 9, 2026Close95.000
The most recent 20 trading days of prices for 91282CPM7.
DateBidOfferClose
Sep 9, 202694.98494.96995.000
Sep 8, 202695.26695.25095.219
Sep 4, 202695.39195.37595.313
Sep 3, 202695.56395.53195.438
Sep 2, 202695.26695.25095.281
Sep 1, 202695.42295.40695.250
Aug 31, 202695.51695.50095.531
Aug 28, 202695.76695.75095.594
Aug 27, 202696.14196.12596.031
Aug 26, 202696.17296.15696.125
Aug 25, 202696.23496.21996.281
Aug 24, 202696.04796.03195.906
Aug 21, 202695.79795.78195.813
Aug 20, 202696.01696.00096.031
Aug 19, 202696.18896.15696.250
Aug 18, 202696.04796.03196.031
Aug 17, 202696.07896.06396.000
Aug 14, 202696.17296.15696.094
Aug 13, 202696.32896.31396.344
Aug 12, 202696.14196.12596.063

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 91282CPM7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 26, 2025Dec 1, 2025New issue$44.0bn$49.0bn2.46x3.781%

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.