Treasury note

91282CQB0 · 3.375% due February 29, 2028

Original term
2-Year
Maturity
Feb 29, 2028
Coupon
3.375%
Pays
Semi-Annual
Dated
Feb 28, 2026
First coupon
Aug 31, 2026
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$77.26bn
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
4.349%
Modified duration
1.417 yr
DV01
0.0140
Convexity
2.719
Dirty price
98.718

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 4 of twelve buckets, summing to 1.446 years against a modified duration of 1.417.

Against the fitted curve

Priced 0.2 bp cheap to the curve on that day, 0.32 cents per 100 of face.

That is 0.37 standard deviations from its own typical residual.

Yield to maturity, 134 observations

3.4%3.6%3.8%4.0%4.2%4.4%Mar 2, 2026Sep 9, 2026Mar 2, 2026Yield to maturity3.473%Mar 3, 2026Yield to maturity3.506%Mar 4, 2026Yield to maturity3.539%Mar 5, 2026Yield to maturity3.572%Mar 6, 2026Yield to maturity3.556%Mar 9, 2026Yield to maturity3.557%Mar 10, 2026Yield to maturity3.573%Mar 11, 2026Yield to maturity3.640%Mar 12, 2026Yield to maturity3.757%Mar 13, 2026Yield to maturity3.725%Mar 16, 2026Yield to maturity3.675%Mar 17, 2026Yield to maturity3.676%Mar 18, 2026Yield to maturity3.760%Mar 19, 2026Yield to maturity3.795%Mar 20, 2026Yield to maturity3.881%Mar 23, 2026Yield to maturity3.831%Mar 24, 2026Yield to maturity3.916%Mar 25, 2026Yield to maturity3.883%Mar 26, 2026Yield to maturity3.986%Mar 27, 2026Yield to maturity3.920%Mar 30, 2026Yield to maturity3.835%Mar 31, 2026Yield to maturity3.801%Apr 1, 2026Yield to maturity3.819%Apr 2, 2026Yield to maturity3.802%Apr 3, 2026Yield to maturity3.856%Apr 6, 2026Yield to maturity3.856%Apr 7, 2026Yield to maturity3.822%Apr 8, 2026Yield to maturity3.806%Apr 9, 2026Yield to maturity3.789%Apr 10, 2026Yield to maturity3.808%Apr 13, 2026Yield to maturity3.791%Apr 14, 2026Yield to maturity3.757%Apr 15, 2026Yield to maturity3.775%Apr 16, 2026Yield to maturity3.775%Apr 17, 2026Yield to maturity3.706%Apr 20, 2026Yield to maturity3.724%Apr 21, 2026Yield to maturity3.778%Apr 22, 2026Yield to maturity3.796%Apr 23, 2026Yield to maturity3.832%Apr 24, 2026Yield to maturity3.781%Apr 27, 2026Yield to maturity3.799%Apr 28, 2026Yield to maturity3.835%Apr 29, 2026Yield to maturity3.908%Apr 30, 2026Yield to maturity3.872%May 1, 2026Yield to maturity3.875%May 4, 2026Yield to maturity3.947%May 5, 2026Yield to maturity3.930%May 6, 2026Yield to maturity3.859%May 7, 2026Yield to maturity3.914%May 8, 2026Yield to maturity3.880%May 11, 2026Yield to maturity3.935%May 12, 2026Yield to maturity3.991%May 13, 2026Yield to maturity3.973%May 14, 2026Yield to maturity3.992%May 15, 2026Yield to maturity4.069%May 18, 2026Yield to maturity4.070%May 19, 2026Yield to maturity4.108%May 20, 2026Yield to maturity4.035%May 21, 2026Yield to maturity4.073%May 22, 2026Yield to maturity4.115%May 26, 2026Yield to maturity4.041%May 27, 2026Yield to maturity4.023%May 28, 2026Yield to maturity4.005%May 29, 2026Yield to maturity3.989%Jun 1, 2026Yield to maturity4.028%Jun 2, 2026Yield to maturity4.029%Jun 3, 2026Yield to maturity4.068%Jun 4, 2026Yield to maturity4.031%Jun 5, 2026Yield to maturity4.148%Jun 8, 2026Yield to maturity4.149%Jun 9, 2026Yield to maturity4.112%Jun 10, 2026Yield to maturity4.114%Jun 11, 2026Yield to maturity4.038%Jun 12, 2026Yield to maturity4.080%Jun 15, 2026Yield to maturity4.042%Jun 16, 2026Yield to maturity4.043%Jun 17, 2026Yield to maturity4.199%Jun 18, 2026Yield to maturity4.185%Jun 22, 2026Yield to maturity4.225%Jun 23, 2026Yield to maturity4.187%Jun 24, 2026Yield to maturity4.150%Jun 25, 2026Yield to maturity4.112%Jun 26, 2026Yield to maturity4.095%Jun 29, 2026Yield to maturity4.097%Jun 30, 2026Yield to maturity4.137%Jul 1, 2026Yield to maturity4.178%Jul 2, 2026Yield to maturity4.143%Jul 6, 2026Yield to maturity4.125%Jul 7, 2026Yield to maturity4.186%Jul 8, 2026Yield to maturity4.207%Jul 9, 2026Yield to maturity4.169%Jul 10, 2026Yield to maturity4.193%Jul 13, 2026Yield to maturity4.255%Jul 14, 2026Yield to maturity4.175%Jul 15, 2026Yield to maturity4.116%Jul 16, 2026Yield to maturity4.137%Jul 17, 2026Yield to maturity4.162%Jul 20, 2026Yield to maturity4.204%Jul 21, 2026Yield to maturity4.246%Jul 22, 2026Yield to maturity4.289%Jul 23, 2026Yield to maturity4.331%Jul 24, 2026Yield to maturity4.315%Jul 27, 2026Yield to maturity4.296%Jul 28, 2026Yield to maturity4.256%Jul 29, 2026Yield to maturity4.216%Jul 30, 2026Yield to maturity4.218%Jul 31, 2026Yield to maturity4.243%Aug 3, 2026Yield to maturity4.224%Aug 4, 2026Yield to maturity4.183%Aug 5, 2026Yield to maturity4.164%Aug 6, 2026Yield to maturity4.228%Aug 7, 2026Yield to maturity4.169%Aug 10, 2026Yield to maturity4.213%Aug 11, 2026Yield to maturity4.193%Aug 12, 2026Yield to maturity4.174%Aug 13, 2026Yield to maturity4.111%Aug 14, 2026Yield to maturity4.137%Aug 17, 2026Yield to maturity4.138%Aug 18, 2026Yield to maturity4.139%Aug 19, 2026Yield to maturity4.141%Aug 20, 2026Yield to maturity4.142%Aug 21, 2026Yield to maturity4.190%Aug 24, 2026Yield to maturity4.191%Aug 25, 2026Yield to maturity4.149%Aug 26, 2026Yield to maturity4.172%Aug 27, 2026Yield to maturity4.196%Aug 28, 2026Yield to maturity4.310%Aug 31, 2026Yield to maturity4.311%Sep 1, 2026Yield to maturity4.357%Sep 2, 2026Yield to maturity4.337%Sep 3, 2026Yield to maturity4.294%Sep 4, 2026Yield to maturity4.323%Sep 8, 2026Yield to maturity4.325%Sep 9, 2026Yield to maturity4.349%

Price history

134 trading days to Sep 9, 2026

98.5098.7599.0099.2599.5099.75100.00Mar 2, 2026Sep 9, 2026Mar 2, 2026Close99.813Mar 3, 2026Close99.750Mar 4, 2026Close99.688Mar 5, 2026Close99.625Mar 6, 2026Close99.656Mar 9, 2026Close99.656Mar 10, 2026Close99.625Mar 11, 2026Close99.500Mar 12, 2026Close99.281Mar 13, 2026Close99.344Mar 16, 2026Close99.438Mar 17, 2026Close99.438Mar 18, 2026Close99.281Mar 19, 2026Close99.219Mar 20, 2026Close99.063Mar 23, 2026Close99.156Mar 24, 2026Close99.000Mar 25, 2026Close99.063Mar 26, 2026Close98.875Mar 27, 2026Close99.000Mar 30, 2026Close99.156Mar 31, 2026Close99.219Apr 1, 2026Close99.188Apr 2, 2026Close99.219Apr 3, 2026Close99.125Apr 6, 2026Close99.125Apr 7, 2026Close99.188Apr 8, 2026Close99.219Apr 9, 2026Close99.250Apr 10, 2026Close99.219Apr 13, 2026Close99.250Apr 14, 2026Close99.313Apr 15, 2026Close99.281Apr 16, 2026Close99.281Apr 17, 2026Close99.406Apr 20, 2026Close99.375Apr 21, 2026Close99.281Apr 22, 2026Close99.250Apr 23, 2026Close99.188Apr 24, 2026Close99.281Apr 27, 2026Close99.250Apr 28, 2026Close99.188Apr 29, 2026Close99.063Apr 30, 2026Close99.125May 1, 2026Close99.125May 4, 2026Close99.000May 5, 2026Close99.031May 6, 2026Close99.156May 7, 2026Close99.063May 8, 2026Close99.125May 11, 2026Close99.031May 12, 2026Close98.938May 13, 2026Close98.969May 14, 2026Close98.938May 15, 2026Close98.813May 18, 2026Close98.813May 19, 2026Close98.750May 20, 2026Close98.875May 21, 2026Close98.813May 22, 2026Close98.750May 26, 2026Close98.875May 27, 2026Close98.906May 28, 2026Close98.938May 29, 2026Close98.969Jun 1, 2026Close98.906Jun 2, 2026Close98.906Jun 3, 2026Close98.844Jun 4, 2026Close98.906Jun 5, 2026Close98.719Jun 8, 2026Close98.719Jun 9, 2026Close98.781Jun 10, 2026Close98.781Jun 11, 2026Close98.906Jun 12, 2026Close98.844Jun 15, 2026Close98.906Jun 16, 2026Close98.906Jun 17, 2026Close98.656Jun 18, 2026Close98.688Jun 22, 2026Close98.625Jun 23, 2026Close98.688Jun 24, 2026Close98.750Jun 25, 2026Close98.813Jun 26, 2026Close98.844Jun 29, 2026Close98.844Jun 30, 2026Close98.781Jul 1, 2026Close98.719Jul 2, 2026Close98.781Jul 6, 2026Close98.813Jul 7, 2026Close98.719Jul 8, 2026Close98.688Jul 9, 2026Close98.750Jul 10, 2026Close98.719Jul 13, 2026Close98.625Jul 14, 2026Close98.750Jul 15, 2026Close98.844Jul 16, 2026Close98.813Jul 17, 2026Close98.781Jul 20, 2026Close98.719Jul 21, 2026Close98.656Jul 22, 2026Close98.594Jul 23, 2026Close98.531Jul 24, 2026Close98.563Jul 27, 2026Close98.594Jul 28, 2026Close98.656Jul 29, 2026Close98.719Jul 30, 2026Close98.719Jul 31, 2026Close98.688Aug 3, 2026Close98.719Aug 4, 2026Close98.781Aug 5, 2026Close98.813Aug 6, 2026Close98.719Aug 7, 2026Close98.813Aug 10, 2026Close98.750Aug 11, 2026Close98.781Aug 12, 2026Close98.813Aug 13, 2026Close98.906Aug 14, 2026Close98.875Aug 17, 2026Close98.875Aug 18, 2026Close98.875Aug 19, 2026Close98.875Aug 20, 2026Close98.875Aug 21, 2026Close98.813Aug 24, 2026Close98.813Aug 25, 2026Close98.875Aug 26, 2026Close98.844Aug 27, 2026Close98.813Aug 28, 2026Close98.656Aug 31, 2026Close98.656Sep 1, 2026Close98.594Sep 2, 2026Close98.625Sep 3, 2026Close98.688Sep 4, 2026Close98.656Sep 8, 2026Close98.656Sep 9, 2026Close98.625
The most recent 20 trading days of prices for 91282CQB0.
DateBidOfferClose
Sep 9, 202698.62598.62598.625
Sep 8, 202698.65698.65698.656
Sep 4, 202698.67298.65698.656
Sep 3, 202698.71998.71998.688
Sep 2, 202698.62598.62598.625
Sep 1, 202698.64198.62598.594
Aug 31, 202698.68898.68898.656
Aug 28, 202698.70398.68898.656
Aug 27, 202698.84498.84498.813
Aug 26, 202698.84498.84498.844
Aug 25, 202698.85998.84498.875
Aug 24, 202698.82898.81398.813
Aug 21, 202698.81398.81398.813
Aug 20, 202698.87598.87598.875
Aug 19, 202698.87598.87598.875
Aug 18, 202698.87598.87598.875
Aug 17, 202698.89198.87598.875
Aug 14, 202698.92298.90698.875
Aug 13, 202698.90698.90698.906
Aug 12, 202698.84498.84498.813

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 91282CQB0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 24, 2026Mar 2, 2026New issue$69.0bn$77.3bn2.63x3.455%

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.