Treasury note

91282CPR6 · 3.625% due December 31, 2030

Original term
5-Year
Maturity
Dec 31, 2030
Coupon
3.625%
Pays
Semi-Annual
Dated
Dec 31, 2025
First coupon
Jun 30, 2026
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$77.46bn
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
4.594%
Modified duration
3.900 yr
DV01
0.0378
Convexity
17.885
Dirty price
96.959

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 3.991 years against a modified duration of 3.900.

Against the fitted curve

Priced 0.5 bp rich to the curve on that day, 1.75 cents per 100 of face.

That is 0.20 standard deviations from its own typical residual.

Yield to maturity, 174 observations

3.4%3.6%3.8%4.0%4.2%4.4%4.6%Dec 31, 2025Sep 9, 2026Dec 31, 2025Yield to maturity3.729%Jan 2, 2026Yield to maturity3.736%Jan 5, 2026Yield to maturity3.708%Jan 6, 2026Yield to maturity3.715%Jan 7, 2026Yield to maturity3.694%Jan 8, 2026Yield to maturity3.736%Jan 9, 2026Yield to maturity3.750%Jan 12, 2026Yield to maturity3.764%Jan 13, 2026Yield to maturity3.743%Jan 14, 2026Yield to maturity3.715%Jan 15, 2026Yield to maturity3.764%Jan 16, 2026Yield to maturity3.820%Jan 20, 2026Yield to maturity3.856%Jan 21, 2026Yield to maturity3.828%Jan 22, 2026Yield to maturity3.842%Jan 23, 2026Yield to maturity3.835%Jan 26, 2026Yield to maturity3.814%Jan 27, 2026Yield to maturity3.821%Jan 28, 2026Yield to maturity3.842%Jan 29, 2026Yield to maturity3.800%Jan 30, 2026Yield to maturity3.793%Feb 2, 2026Yield to maturity3.829%Feb 3, 2026Yield to maturity3.829%Feb 4, 2026Yield to maturity3.836%Feb 5, 2026Yield to maturity3.737%Feb 6, 2026Yield to maturity3.751%Feb 9, 2026Yield to maturity3.744%Feb 10, 2026Yield to maturity3.695%Feb 11, 2026Yield to maturity3.744%Feb 12, 2026Yield to maturity3.667%Feb 13, 2026Yield to maturity3.603%Feb 17, 2026Yield to maturity3.624%Feb 18, 2026Yield to maturity3.653%Feb 19, 2026Yield to maturity3.645%Feb 20, 2026Yield to maturity3.645%Feb 23, 2026Yield to maturity3.582%Feb 24, 2026Yield to maturity3.596%Feb 25, 2026Yield to maturity3.617%Feb 26, 2026Yield to maturity3.582%Feb 27, 2026Yield to maturity3.518%Mar 2, 2026Yield to maturity3.617%Mar 3, 2026Yield to maturity3.631%Mar 4, 2026Yield to maturity3.674%Mar 5, 2026Yield to maturity3.717%Mar 6, 2026Yield to maturity3.724%Mar 9, 2026Yield to maturity3.703%Mar 10, 2026Yield to maturity3.724%Mar 11, 2026Yield to maturity3.782%Mar 12, 2026Yield to maturity3.876%Mar 13, 2026Yield to maturity3.869%Mar 16, 2026Yield to maturity3.804%Mar 17, 2026Yield to maturity3.782%Mar 18, 2026Yield to maturity3.869%Mar 19, 2026Yield to maturity3.891%Mar 20, 2026Yield to maturity4.016%Mar 23, 2026Yield to maturity3.965%Mar 24, 2026Yield to maturity4.038%Mar 25, 2026Yield to maturity3.980%Mar 26, 2026Yield to maturity4.098%Mar 27, 2026Yield to maturity4.062%Mar 30, 2026Yield to maturity3.966%Mar 31, 2026Yield to maturity3.922%Apr 1, 2026Yield to maturity3.959%Apr 2, 2026Yield to maturity3.930%Apr 3, 2026Yield to maturity3.982%Apr 6, 2026Yield to maturity3.975%Apr 7, 2026Yield to maturity3.953%Apr 8, 2026Yield to maturity3.916%Apr 9, 2026Yield to maturity3.909%Apr 10, 2026Yield to maturity3.932%Apr 13, 2026Yield to maturity3.910%Apr 14, 2026Yield to maturity3.866%Apr 15, 2026Yield to maturity3.888%Apr 16, 2026Yield to maturity3.903%Apr 17, 2026Yield to maturity3.837%Apr 20, 2026Yield to maturity3.844%Apr 21, 2026Yield to maturity3.896%Apr 22, 2026Yield to maturity3.904%Apr 23, 2026Yield to maturity3.948%Apr 24, 2026Yield to maturity3.904%Apr 27, 2026Yield to maturity3.942%Apr 28, 2026Yield to maturity3.972%Apr 29, 2026Yield to maturity4.047%Apr 30, 2026Yield to maturity4.009%May 1, 2026Yield to maturity4.010%May 4, 2026Yield to maturity4.078%May 5, 2026Yield to maturity4.063%May 6, 2026Yield to maturity3.988%May 7, 2026Yield to maturity4.033%May 8, 2026Yield to maturity4.004%May 11, 2026Yield to maturity4.065%May 12, 2026Yield to maturity4.118%May 13, 2026Yield to maturity4.110%May 14, 2026Yield to maturity4.126%May 15, 2026Yield to maturity4.256%May 18, 2026Yield to maturity4.257%May 19, 2026Yield to maturity4.318%May 20, 2026Yield to maturity4.219%May 21, 2026Yield to maturity4.235%May 22, 2026Yield to maturity4.259%May 26, 2026Yield to maturity4.183%May 27, 2026Yield to maturity4.176%May 28, 2026Yield to maturity4.153%May 29, 2026Yield to maturity4.138%Jun 1, 2026Yield to maturity4.177%Jun 2, 2026Yield to maturity4.170%Jun 3, 2026Yield to maturity4.209%Jun 4, 2026Yield to maturity4.178%Jun 5, 2026Yield to maturity4.287%Jun 8, 2026Yield to maturity4.280%Jun 9, 2026Yield to maturity4.257%Jun 10, 2026Yield to maturity4.265%Jun 11, 2026Yield to maturity4.173%Jun 12, 2026Yield to maturity4.205%Jun 15, 2026Yield to maturity4.182%Jun 16, 2026Yield to maturity4.143%Jun 17, 2026Yield to maturity4.268%Jun 18, 2026Yield to maturity4.230%Jun 22, 2026Yield to maturity4.293%Jun 23, 2026Yield to maturity4.270%Jun 24, 2026Yield to maturity4.185%Jun 25, 2026Yield to maturity4.162%Jun 26, 2026Yield to maturity4.132%Jun 29, 2026Yield to maturity4.140%Jun 30, 2026Yield to maturity4.195%Jul 1, 2026Yield to maturity4.234%Jul 2, 2026Yield to maturity4.227%Jul 6, 2026Yield to maturity4.204%Jul 7, 2026Yield to maturity4.267%Jul 8, 2026Yield to maturity4.299%Jul 9, 2026Yield to maturity4.260%Jul 10, 2026Yield to maturity4.300%Jul 13, 2026Yield to maturity4.364%Jul 14, 2026Yield to maturity4.301%Jul 15, 2026Yield to maturity4.246%Jul 16, 2026Yield to maturity4.270%Jul 17, 2026Yield to maturity4.271%Jul 20, 2026Yield to maturity4.311%Jul 21, 2026Yield to maturity4.359%Jul 22, 2026Yield to maturity4.408%Jul 23, 2026Yield to maturity4.456%Jul 24, 2026Yield to maturity4.425%Jul 27, 2026Yield to maturity4.402%Jul 28, 2026Yield to maturity4.354%Jul 29, 2026Yield to maturity4.362%Jul 30, 2026Yield to maturity4.371%Jul 31, 2026Yield to maturity4.436%Aug 3, 2026Yield to maturity4.389%Aug 4, 2026Yield to maturity4.325%Aug 5, 2026Yield to maturity4.317%Aug 6, 2026Yield to maturity4.382%Aug 7, 2026Yield to maturity4.335%Aug 10, 2026Yield to maturity4.391%Aug 11, 2026Yield to maturity4.376%Aug 12, 2026Yield to maturity4.352%Aug 13, 2026Yield to maturity4.296%Aug 14, 2026Yield to maturity4.346%Aug 17, 2026Yield to maturity4.354%Aug 18, 2026Yield to maturity4.346%Aug 19, 2026Yield to maturity4.331%Aug 20, 2026Yield to maturity4.363%Aug 21, 2026Yield to maturity4.405%Aug 24, 2026Yield to maturity4.389%Aug 25, 2026Yield to maturity4.333%Aug 26, 2026Yield to maturity4.366%Aug 27, 2026Yield to maturity4.374%Aug 28, 2026Yield to maturity4.474%Aug 31, 2026Yield to maturity4.482%Sep 1, 2026Yield to maturity4.540%Sep 2, 2026Yield to maturity4.532%Sep 3, 2026Yield to maturity4.500%Sep 4, 2026Yield to maturity4.527%Sep 8, 2026Yield to maturity4.552%Sep 9, 2026Yield to maturity4.594%

Price history

174 trading days to Sep 9, 2026

96979899100101Dec 31, 2025Sep 9, 2026Dec 31, 2025Close99.531Jan 2, 2026Close99.500Jan 5, 2026Close99.625Jan 6, 2026Close99.594Jan 7, 2026Close99.688Jan 8, 2026Close99.500Jan 9, 2026Close99.438Jan 12, 2026Close99.375Jan 13, 2026Close99.469Jan 14, 2026Close99.594Jan 15, 2026Close99.375Jan 16, 2026Close99.125Jan 20, 2026Close98.969Jan 21, 2026Close99.094Jan 22, 2026Close99.031Jan 23, 2026Close99.063Jan 26, 2026Close99.156Jan 27, 2026Close99.125Jan 28, 2026Close99.031Jan 29, 2026Close99.219Jan 30, 2026Close99.250Feb 2, 2026Close99.094Feb 3, 2026Close99.094Feb 4, 2026Close99.063Feb 5, 2026Close99.500Feb 6, 2026Close99.438Feb 9, 2026Close99.469Feb 10, 2026Close99.688Feb 11, 2026Close99.469Feb 12, 2026Close99.813Feb 13, 2026Close100.094Feb 17, 2026Close100.000Feb 18, 2026Close99.875Feb 19, 2026Close99.906Feb 20, 2026Close99.906Feb 23, 2026Close100.188Feb 24, 2026Close100.125Feb 25, 2026Close100.031Feb 26, 2026Close100.188Feb 27, 2026Close100.469Mar 2, 2026Close100.031Mar 3, 2026Close99.969Mar 4, 2026Close99.781Mar 5, 2026Close99.594Mar 6, 2026Close99.563Mar 9, 2026Close99.656Mar 10, 2026Close99.563Mar 11, 2026Close99.313Mar 12, 2026Close98.906Mar 13, 2026Close98.938Mar 16, 2026Close99.219Mar 17, 2026Close99.313Mar 18, 2026Close98.938Mar 19, 2026Close98.844Mar 20, 2026Close98.313Mar 23, 2026Close98.531Mar 24, 2026Close98.219Mar 25, 2026Close98.469Mar 26, 2026Close97.969Mar 27, 2026Close98.125Mar 30, 2026Close98.531Mar 31, 2026Close98.719Apr 1, 2026Close98.563Apr 2, 2026Close98.688Apr 3, 2026Close98.469Apr 6, 2026Close98.500Apr 7, 2026Close98.594Apr 8, 2026Close98.750Apr 9, 2026Close98.781Apr 10, 2026Close98.688Apr 13, 2026Close98.781Apr 14, 2026Close98.969Apr 15, 2026Close98.875Apr 16, 2026Close98.813Apr 17, 2026Close99.094Apr 20, 2026Close99.063Apr 21, 2026Close98.844Apr 22, 2026Close98.813Apr 23, 2026Close98.625Apr 24, 2026Close98.813Apr 27, 2026Close98.656Apr 28, 2026Close98.531Apr 29, 2026Close98.219Apr 30, 2026Close98.375May 1, 2026Close98.375May 4, 2026Close98.094May 5, 2026Close98.156May 6, 2026Close98.469May 7, 2026Close98.281May 8, 2026Close98.406May 11, 2026Close98.156May 12, 2026Close97.938May 13, 2026Close97.969May 14, 2026Close97.906May 15, 2026Close97.375May 18, 2026Close97.375May 19, 2026Close97.125May 20, 2026Close97.531May 21, 2026Close97.469May 22, 2026Close97.375May 26, 2026Close97.688May 27, 2026Close97.719May 28, 2026Close97.813May 29, 2026Close97.875Jun 1, 2026Close97.719Jun 2, 2026Close97.750Jun 3, 2026Close97.594Jun 4, 2026Close97.719Jun 5, 2026Close97.281Jun 8, 2026Close97.313Jun 9, 2026Close97.406Jun 10, 2026Close97.375Jun 11, 2026Close97.750Jun 12, 2026Close97.625Jun 15, 2026Close97.719Jun 16, 2026Close97.875Jun 17, 2026Close97.375Jun 18, 2026Close97.531Jun 22, 2026Close97.281Jun 23, 2026Close97.375Jun 24, 2026Close97.719Jun 25, 2026Close97.813Jun 26, 2026Close97.938Jun 29, 2026Close97.906Jun 30, 2026Close97.688Jul 1, 2026Close97.531Jul 2, 2026Close97.563Jul 6, 2026Close97.656Jul 7, 2026Close97.406Jul 8, 2026Close97.281Jul 9, 2026Close97.438Jul 10, 2026Close97.281Jul 13, 2026Close97.031Jul 14, 2026Close97.281Jul 15, 2026Close97.500Jul 16, 2026Close97.406Jul 17, 2026Close97.406Jul 20, 2026Close97.250Jul 21, 2026Close97.063Jul 22, 2026Close96.875Jul 23, 2026Close96.688Jul 24, 2026Close96.813Jul 27, 2026Close96.906Jul 28, 2026Close97.094Jul 29, 2026Close97.063Jul 30, 2026Close97.031Jul 31, 2026Close96.781Aug 3, 2026Close96.969Aug 4, 2026Close97.219Aug 5, 2026Close97.250Aug 6, 2026Close97.000Aug 7, 2026Close97.188Aug 10, 2026Close96.969Aug 11, 2026Close97.031Aug 12, 2026Close97.125Aug 13, 2026Close97.344Aug 14, 2026Close97.156Aug 17, 2026Close97.125Aug 18, 2026Close97.156Aug 19, 2026Close97.219Aug 20, 2026Close97.094Aug 21, 2026Close96.938Aug 24, 2026Close97.000Aug 25, 2026Close97.219Aug 26, 2026Close97.094Aug 27, 2026Close97.063Aug 28, 2026Close96.688Aug 31, 2026Close96.656Sep 1, 2026Close96.438Sep 2, 2026Close96.469Sep 3, 2026Close96.594Sep 4, 2026Close96.500Sep 8, 2026Close96.406Sep 9, 2026Close96.250
The most recent 20 trading days of prices for 91282CPR6.
DateBidOfferClose
Sep 9, 202696.26696.25096.250
Sep 8, 202696.45396.43896.406
Sep 4, 202696.53196.53196.500
Sep 3, 202696.70396.68896.594
Sep 2, 202696.46996.46996.469
Sep 1, 202696.56396.56396.438
Aug 31, 202696.67296.65696.656
Aug 28, 202696.79796.78196.688
Aug 27, 202697.14197.12597.063
Aug 26, 202697.14197.12597.094
Aug 25, 202697.20397.18897.219
Aug 24, 202697.06397.06397.000
Aug 21, 202696.92296.90696.938
Aug 20, 202697.07897.06397.094
Aug 19, 202697.17297.15697.219
Aug 18, 202697.15697.15697.156
Aug 17, 202697.17297.15697.125
Aug 14, 202697.25097.25097.156
Aug 13, 202697.32897.31397.344
Aug 12, 202697.17297.15697.125

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 91282CPR6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 23, 2025Dec 31, 2025New issue$70.0bn$77.5bn2.35x3.747%

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.