Treasury note

91282CQC8 · 3.75% due February 28, 2033

Original term
7-Year
Maturity
Feb 28, 2033
Coupon
3.750%
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
$49.27bn
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
4.694%
Modified duration
5.646 yr
DV01
0.0536
Convexity
36.999
Dirty price
94.885

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 5.773 years against a modified duration of 5.646.

Against the fitted curve

Priced 2.7 bp cheap to the curve on that day, 14.39 cents per 100 of face.

That is 0.76 standard deviations from its own typical residual.

Yield to maturity, 134 observations

3.8%4.0%4.2%4.4%4.6%4.8%Mar 2, 2026Sep 9, 2026Mar 2, 2026Yield to maturity3.817%Mar 3, 2026Yield to maturity3.832%Mar 4, 2026Yield to maturity3.868%Mar 5, 2026Yield to maturity3.915%Mar 6, 2026Yield to maturity3.925%Mar 9, 2026Yield to maturity3.900%Mar 10, 2026Yield to maturity3.926%Mar 11, 2026Yield to maturity3.983%Mar 12, 2026Yield to maturity4.062%Mar 13, 2026Yield to maturity4.067%Mar 16, 2026Yield to maturity3.999%Mar 17, 2026Yield to maturity3.978%Mar 18, 2026Yield to maturity4.052%Mar 19, 2026Yield to maturity4.057%Mar 20, 2026Yield to maturity4.200%Mar 23, 2026Yield to maturity4.147%Mar 24, 2026Yield to maturity4.206%Mar 25, 2026Yield to maturity4.142%Mar 26, 2026Yield to maturity4.260%Mar 27, 2026Yield to maturity4.249%Mar 30, 2026Yield to maturity4.153%Mar 31, 2026Yield to maturity4.106%Apr 1, 2026Yield to maturity4.143%Apr 2, 2026Yield to maturity4.117%Apr 3, 2026Yield to maturity4.165%Apr 6, 2026Yield to maturity4.160%Apr 7, 2026Yield to maturity4.128%Apr 8, 2026Yield to maturity4.096%Apr 9, 2026Yield to maturity4.096%Apr 10, 2026Yield to maturity4.118%Apr 13, 2026Yield to maturity4.097%Apr 14, 2026Yield to maturity4.049%Apr 15, 2026Yield to maturity4.075%Apr 16, 2026Yield to maturity4.097%Apr 17, 2026Yield to maturity4.028%Apr 20, 2026Yield to maturity4.033%Apr 21, 2026Yield to maturity4.081%Apr 22, 2026Yield to maturity4.087%Apr 23, 2026Yield to maturity4.130%Apr 24, 2026Yield to maturity4.093%Apr 27, 2026Yield to maturity4.130%Apr 28, 2026Yield to maturity4.152%Apr 29, 2026Yield to maturity4.222%Apr 30, 2026Yield to maturity4.190%May 1, 2026Yield to maturity4.190%May 4, 2026Yield to maturity4.250%May 5, 2026Yield to maturity4.234%May 6, 2026Yield to maturity4.158%May 7, 2026Yield to maturity4.207%May 8, 2026Yield to maturity4.175%May 11, 2026Yield to maturity4.224%May 12, 2026Yield to maturity4.278%May 13, 2026Yield to maturity4.273%May 14, 2026Yield to maturity4.279%May 15, 2026Yield to maturity4.411%May 18, 2026Yield to maturity4.422%May 19, 2026Yield to maturity4.483%May 20, 2026Yield to maturity4.378%May 21, 2026Yield to maturity4.390%May 22, 2026Yield to maturity4.396%May 26, 2026Yield to maturity4.319%May 27, 2026Yield to maturity4.309%May 28, 2026Yield to maturity4.287%May 29, 2026Yield to maturity4.271%Jun 1, 2026Yield to maturity4.310%Jun 2, 2026Yield to maturity4.293%Jun 3, 2026Yield to maturity4.332%Jun 4, 2026Yield to maturity4.310%Jun 5, 2026Yield to maturity4.399%Jun 8, 2026Yield to maturity4.405%Jun 9, 2026Yield to maturity4.372%Jun 10, 2026Yield to maturity4.389%Jun 11, 2026Yield to maturity4.295%Jun 12, 2026Yield to maturity4.329%Jun 15, 2026Yield to maturity4.301%Jun 16, 2026Yield to maturity4.263%Jun 17, 2026Yield to maturity4.357%Jun 18, 2026Yield to maturity4.325%Jun 22, 2026Yield to maturity4.380%Jun 23, 2026Yield to maturity4.364%Jun 24, 2026Yield to maturity4.270%Jun 25, 2026Yield to maturity4.248%Jun 26, 2026Yield to maturity4.221%Jun 29, 2026Yield to maturity4.227%Jun 30, 2026Yield to maturity4.288%Jul 1, 2026Yield to maturity4.332%Jul 2, 2026Yield to maturity4.339%Jul 6, 2026Yield to maturity4.311%Jul 7, 2026Yield to maturity4.378%Jul 8, 2026Yield to maturity4.406%Jul 9, 2026Yield to maturity4.379%Jul 10, 2026Yield to maturity4.407%Jul 13, 2026Yield to maturity4.464%Jul 14, 2026Yield to maturity4.419%Jul 15, 2026Yield to maturity4.369%Jul 16, 2026Yield to maturity4.392%Jul 17, 2026Yield to maturity4.381%Jul 20, 2026Yield to maturity4.426%Jul 21, 2026Yield to maturity4.472%Jul 22, 2026Yield to maturity4.512%Jul 23, 2026Yield to maturity4.557%Jul 24, 2026Yield to maturity4.524%Jul 27, 2026Yield to maturity4.496%Jul 28, 2026Yield to maturity4.451%Jul 29, 2026Yield to maturity4.485%Jul 30, 2026Yield to maturity4.497%Jul 31, 2026Yield to maturity4.566%Aug 3, 2026Yield to maturity4.509%Aug 4, 2026Yield to maturity4.442%Aug 5, 2026Yield to maturity4.442%Aug 6, 2026Yield to maturity4.499%Aug 7, 2026Yield to maturity4.454%Aug 10, 2026Yield to maturity4.523%Aug 11, 2026Yield to maturity4.506%Aug 12, 2026Yield to maturity4.489%Aug 13, 2026Yield to maturity4.438%Aug 14, 2026Yield to maturity4.479%Aug 17, 2026Yield to maturity4.502%Aug 18, 2026Yield to maturity4.491%Aug 19, 2026Yield to maturity4.451%Aug 20, 2026Yield to maturity4.492%Aug 21, 2026Yield to maturity4.533%Aug 24, 2026Yield to maturity4.510%Aug 25, 2026Yield to maturity4.447%Aug 26, 2026Yield to maturity4.476%Aug 27, 2026Yield to maturity4.494%Aug 28, 2026Yield to maturity4.569%Aug 31, 2026Yield to maturity4.587%Sep 1, 2026Yield to maturity4.639%Sep 2, 2026Yield to maturity4.640%Sep 3, 2026Yield to maturity4.605%Sep 4, 2026Yield to maturity4.629%Sep 8, 2026Yield to maturity4.653%Sep 9, 2026Yield to maturity4.694%

Price history

134 trading days to Sep 9, 2026

949596979899100Mar 2, 2026Sep 9, 2026Mar 2, 2026Close99.594Mar 3, 2026Close99.500Mar 4, 2026Close99.281Mar 5, 2026Close99.000Mar 6, 2026Close98.938Mar 9, 2026Close99.094Mar 10, 2026Close98.938Mar 11, 2026Close98.594Mar 12, 2026Close98.125Mar 13, 2026Close98.094Mar 16, 2026Close98.500Mar 17, 2026Close98.625Mar 18, 2026Close98.188Mar 19, 2026Close98.156Mar 20, 2026Close97.313Mar 23, 2026Close97.625Mar 24, 2026Close97.281Mar 25, 2026Close97.656Mar 26, 2026Close96.969Mar 27, 2026Close97.031Mar 30, 2026Close97.594Mar 31, 2026Close97.875Apr 1, 2026Close97.656Apr 2, 2026Close97.813Apr 3, 2026Close97.531Apr 6, 2026Close97.563Apr 7, 2026Close97.750Apr 8, 2026Close97.938Apr 9, 2026Close97.938Apr 10, 2026Close97.813Apr 13, 2026Close97.938Apr 14, 2026Close98.219Apr 15, 2026Close98.063Apr 16, 2026Close97.938Apr 17, 2026Close98.344Apr 20, 2026Close98.313Apr 21, 2026Close98.031Apr 22, 2026Close98.000Apr 23, 2026Close97.750Apr 24, 2026Close97.969Apr 27, 2026Close97.750Apr 28, 2026Close97.625Apr 29, 2026Close97.219Apr 30, 2026Close97.406May 1, 2026Close97.406May 4, 2026Close97.063May 5, 2026Close97.156May 6, 2026Close97.594May 7, 2026Close97.313May 8, 2026Close97.500May 11, 2026Close97.219May 12, 2026Close96.906May 13, 2026Close96.938May 14, 2026Close96.906May 15, 2026Close96.156May 18, 2026Close96.094May 19, 2026Close95.750May 20, 2026Close96.344May 21, 2026Close96.281May 22, 2026Close96.250May 26, 2026Close96.688May 27, 2026Close96.750May 28, 2026Close96.875May 29, 2026Close96.969Jun 1, 2026Close96.750Jun 2, 2026Close96.844Jun 3, 2026Close96.625Jun 4, 2026Close96.750Jun 5, 2026Close96.250Jun 8, 2026Close96.219Jun 9, 2026Close96.406Jun 10, 2026Close96.313Jun 11, 2026Close96.844Jun 12, 2026Close96.656Jun 15, 2026Close96.813Jun 16, 2026Close97.031Jun 17, 2026Close96.500Jun 18, 2026Close96.688Jun 22, 2026Close96.375Jun 23, 2026Close96.469Jun 24, 2026Close97.000Jun 25, 2026Close97.125Jun 26, 2026Close97.281Jun 29, 2026Close97.250Jun 30, 2026Close96.906Jul 1, 2026Close96.656Jul 2, 2026Close96.625Jul 6, 2026Close96.781Jul 7, 2026Close96.406Jul 8, 2026Close96.250Jul 9, 2026Close96.406Jul 10, 2026Close96.250Jul 13, 2026Close95.938Jul 14, 2026Close96.188Jul 15, 2026Close96.469Jul 16, 2026Close96.344Jul 17, 2026Close96.406Jul 20, 2026Close96.156Jul 21, 2026Close95.906Jul 22, 2026Close95.688Jul 23, 2026Close95.438Jul 24, 2026Close95.625Jul 27, 2026Close95.781Jul 28, 2026Close96.031Jul 29, 2026Close95.844Jul 30, 2026Close95.781Jul 31, 2026Close95.406Aug 3, 2026Close95.719Aug 4, 2026Close96.094Aug 5, 2026Close96.094Aug 6, 2026Close95.781Aug 7, 2026Close96.031Aug 10, 2026Close95.656Aug 11, 2026Close95.750Aug 12, 2026Close95.844Aug 13, 2026Close96.125Aug 14, 2026Close95.906Aug 17, 2026Close95.781Aug 18, 2026Close95.844Aug 19, 2026Close96.063Aug 20, 2026Close95.844Aug 21, 2026Close95.625Aug 24, 2026Close95.750Aug 25, 2026Close96.094Aug 26, 2026Close95.938Aug 27, 2026Close95.844Aug 28, 2026Close95.438Aug 31, 2026Close95.344Sep 1, 2026Close95.063Sep 2, 2026Close95.063Sep 3, 2026Close95.250Sep 4, 2026Close95.125Sep 8, 2026Close95.000Sep 9, 2026Close94.781
The most recent 20 trading days of prices for 91282CQC8.
DateBidOfferClose
Sep 9, 202694.76694.75094.781
Sep 8, 202695.06395.06395.000
Sep 4, 202695.17295.15695.125
Sep 3, 202695.35995.34495.250
Sep 2, 202695.04795.03195.063
Sep 1, 202695.23495.21995.063
Aug 31, 202695.32895.31395.344
Aug 28, 202695.60995.59495.438
Aug 27, 202695.98495.96995.844
Aug 26, 202695.98495.96995.938
Aug 25, 202696.06396.06396.094
Aug 24, 202695.82895.81395.750
Aug 21, 202695.60995.59495.625
Aug 20, 202695.79795.78195.844
Aug 19, 202696.01696.00096.063
Aug 18, 202695.82895.81395.844
Aug 17, 202695.85995.84495.781
Aug 14, 202695.96995.96995.906
Aug 13, 202696.14196.12596.125
Aug 12, 202695.92295.90695.844

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 91282CQC8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 26, 2026Mar 2, 2026New issue$44.0bn$49.3bn2.50x3.790%

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.