Treasury note

91282CQE4 · 3.5% due March 15, 2029

Original term
3-Year
Maturity
Mar 15, 2029
Coupon
3.500%
Pays
Semi-Annual
Dated
Mar 15, 2026
First coupon
Sep 15, 2026
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$58.01bn
Held stripped
$104.0m
Share stripped
0.18%

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
4.469%
Modified duration
2.333 yr
DV01
0.0232
Convexity
6.797
Dirty price
99.421

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 2.381 years against a modified duration of 2.333.

Against the fitted curve

Priced 2.1 bp rich to the curve on that day, 4.89 cents per 100 of face.

That is 0.02 standard deviations from its own typical residual.

Yield to maturity, 124 observations

3.6%3.8%4.0%4.2%4.4%4.6%Mar 16, 2026Sep 9, 2026Mar 16, 2026Yield to maturity3.689%Mar 17, 2026Yield to maturity3.678%Mar 18, 2026Yield to maturity3.756%Mar 19, 2026Yield to maturity3.790%Mar 20, 2026Yield to maturity3.904%Mar 23, 2026Yield to maturity3.847%Mar 24, 2026Yield to maturity3.927%Mar 25, 2026Yield to maturity3.882%Mar 26, 2026Yield to maturity3.996%Mar 27, 2026Yield to maturity3.940%Mar 30, 2026Yield to maturity3.849%Mar 31, 2026Yield to maturity3.804%Apr 1, 2026Yield to maturity3.839%Apr 2, 2026Yield to maturity3.816%Apr 3, 2026Yield to maturity3.874%Apr 6, 2026Yield to maturity3.874%Apr 7, 2026Yield to maturity3.840%Apr 8, 2026Yield to maturity3.806%Apr 9, 2026Yield to maturity3.795%Apr 10, 2026Yield to maturity3.819%Apr 13, 2026Yield to maturity3.796%Apr 14, 2026Yield to maturity3.750%Apr 15, 2026Yield to maturity3.773%Apr 16, 2026Yield to maturity3.785%Apr 17, 2026Yield to maturity3.717%Apr 20, 2026Yield to maturity3.728%Apr 21, 2026Yield to maturity3.786%Apr 22, 2026Yield to maturity3.798%Apr 23, 2026Yield to maturity3.845%Apr 24, 2026Yield to maturity3.799%Apr 27, 2026Yield to maturity3.823%Apr 28, 2026Yield to maturity3.858%Apr 29, 2026Yield to maturity3.940%Apr 30, 2026Yield to maturity3.905%May 1, 2026Yield to maturity3.906%May 4, 2026Yield to maturity3.977%May 5, 2026Yield to maturity3.966%May 6, 2026Yield to maturity3.884%May 7, 2026Yield to maturity3.943%May 8, 2026Yield to maturity3.909%May 11, 2026Yield to maturity3.968%May 12, 2026Yield to maturity4.016%May 13, 2026Yield to maturity4.004%May 14, 2026Yield to maturity4.029%May 15, 2026Yield to maturity4.137%May 18, 2026Yield to maturity4.138%May 19, 2026Yield to maturity4.198%May 20, 2026Yield to maturity4.103%May 21, 2026Yield to maturity4.128%May 22, 2026Yield to maturity4.178%May 26, 2026Yield to maturity4.094%May 27, 2026Yield to maturity4.083%May 28, 2026Yield to maturity4.071%May 29, 2026Yield to maturity4.049%Jun 1, 2026Yield to maturity4.086%Jun 2, 2026Yield to maturity4.086%Jun 3, 2026Yield to maturity4.123%Jun 4, 2026Yield to maturity4.087%Jun 5, 2026Yield to maturity4.211%Jun 8, 2026Yield to maturity4.199%Jun 9, 2026Yield to maturity4.175%Jun 10, 2026Yield to maturity4.176%Jun 11, 2026Yield to maturity4.091%Jun 12, 2026Yield to maturity4.117%Jun 15, 2026Yield to maturity4.093%Jun 16, 2026Yield to maturity4.082%Jun 17, 2026Yield to maturity4.217%Jun 18, 2026Yield to maturity4.183%Jun 22, 2026Yield to maturity4.246%Jun 23, 2026Yield to maturity4.209%Jun 24, 2026Yield to maturity4.148%Jun 25, 2026Yield to maturity4.124%Jun 26, 2026Yield to maturity4.088%Jun 29, 2026Yield to maturity4.101%Jun 30, 2026Yield to maturity4.152%Jul 1, 2026Yield to maturity4.190%Jul 2, 2026Yield to maturity4.167%Jul 6, 2026Yield to maturity4.143%Jul 7, 2026Yield to maturity4.206%Jul 8, 2026Yield to maturity4.232%Jul 9, 2026Yield to maturity4.195%Jul 10, 2026Yield to maturity4.235%Jul 13, 2026Yield to maturity4.286%Jul 14, 2026Yield to maturity4.224%Jul 15, 2026Yield to maturity4.161%Jul 16, 2026Yield to maturity4.187%Jul 17, 2026Yield to maturity4.202%Jul 20, 2026Yield to maturity4.241%Jul 21, 2026Yield to maturity4.292%Jul 22, 2026Yield to maturity4.332%Jul 23, 2026Yield to maturity4.384%Jul 24, 2026Yield to maturity4.361%Jul 27, 2026Yield to maturity4.349%Jul 28, 2026Yield to maturity4.298%Jul 29, 2026Yield to maturity4.273%Jul 30, 2026Yield to maturity4.287%Jul 31, 2026Yield to maturity4.341%Aug 3, 2026Yield to maturity4.303%Aug 4, 2026Yield to maturity4.239%Aug 5, 2026Yield to maturity4.227%Aug 6, 2026Yield to maturity4.293%Aug 7, 2026Yield to maturity4.243%Aug 10, 2026Yield to maturity4.296%Aug 11, 2026Yield to maturity4.271%Aug 12, 2026Yield to maturity4.245%Aug 13, 2026Yield to maturity4.194%Aug 14, 2026Yield to maturity4.222%Aug 17, 2026Yield to maturity4.223%Aug 18, 2026Yield to maturity4.224%Aug 19, 2026Yield to maturity4.225%Aug 20, 2026Yield to maturity4.239%Aug 21, 2026Yield to maturity4.280%Aug 24, 2026Yield to maturity4.281%Aug 25, 2026Yield to maturity4.229%Aug 26, 2026Yield to maturity4.256%Aug 27, 2026Yield to maturity4.270%Aug 28, 2026Yield to maturity4.379%Aug 31, 2026Yield to maturity4.380%Sep 1, 2026Yield to maturity4.434%Sep 2, 2026Yield to maturity4.422%Sep 3, 2026Yield to maturity4.383%Sep 4, 2026Yield to maturity4.414%Sep 8, 2026Yield to maturity4.441%Sep 9, 2026Yield to maturity4.469%

Price history

124 trading days to Sep 9, 2026

97.5098.0098.5099.0099.50Mar 16, 2026Sep 9, 2026Mar 16, 2026Close99.469Mar 17, 2026Close99.500Mar 18, 2026Close99.281Mar 19, 2026Close99.188Mar 20, 2026Close98.875Mar 23, 2026Close99.031Mar 24, 2026Close98.813Mar 25, 2026Close98.938Mar 26, 2026Close98.625Mar 27, 2026Close98.781Mar 30, 2026Close99.031Mar 31, 2026Close99.156Apr 1, 2026Close99.063Apr 2, 2026Close99.125Apr 3, 2026Close98.969Apr 6, 2026Close98.969Apr 7, 2026Close99.063Apr 8, 2026Close99.156Apr 9, 2026Close99.188Apr 10, 2026Close99.125Apr 13, 2026Close99.188Apr 14, 2026Close99.313Apr 15, 2026Close99.250Apr 16, 2026Close99.219Apr 17, 2026Close99.406Apr 20, 2026Close99.375Apr 21, 2026Close99.219Apr 22, 2026Close99.188Apr 23, 2026Close99.063Apr 24, 2026Close99.188Apr 27, 2026Close99.125Apr 28, 2026Close99.031Apr 29, 2026Close98.813Apr 30, 2026Close98.906May 1, 2026Close98.906May 4, 2026Close98.719May 5, 2026Close98.750May 6, 2026Close98.969May 7, 2026Close98.813May 8, 2026Close98.906May 11, 2026Close98.750May 12, 2026Close98.625May 13, 2026Close98.656May 14, 2026Close98.594May 15, 2026Close98.313May 18, 2026Close98.313May 19, 2026Close98.156May 20, 2026Close98.406May 21, 2026Close98.344May 22, 2026Close98.219May 26, 2026Close98.438May 27, 2026Close98.469May 28, 2026Close98.500May 29, 2026Close98.563Jun 1, 2026Close98.469Jun 2, 2026Close98.469Jun 3, 2026Close98.375Jun 4, 2026Close98.469Jun 5, 2026Close98.156Jun 8, 2026Close98.188Jun 9, 2026Close98.250Jun 10, 2026Close98.250Jun 11, 2026Close98.469Jun 12, 2026Close98.406Jun 15, 2026Close98.469Jun 16, 2026Close98.500Jun 17, 2026Close98.156Jun 18, 2026Close98.250Jun 22, 2026Close98.094Jun 23, 2026Close98.188Jun 24, 2026Close98.344Jun 25, 2026Close98.406Jun 26, 2026Close98.500Jun 29, 2026Close98.469Jun 30, 2026Close98.344Jul 1, 2026Close98.250Jul 2, 2026Close98.313Jul 6, 2026Close98.375Jul 7, 2026Close98.219Jul 8, 2026Close98.156Jul 9, 2026Close98.250Jul 10, 2026Close98.156Jul 13, 2026Close98.031Jul 14, 2026Close98.188Jul 15, 2026Close98.344Jul 16, 2026Close98.281Jul 17, 2026Close98.250Jul 20, 2026Close98.156Jul 21, 2026Close98.031Jul 22, 2026Close97.938Jul 23, 2026Close97.813Jul 24, 2026Close97.875Jul 27, 2026Close97.906Jul 28, 2026Close98.031Jul 29, 2026Close98.094Jul 30, 2026Close98.063Jul 31, 2026Close97.938Aug 3, 2026Close98.031Aug 4, 2026Close98.188Aug 5, 2026Close98.219Aug 6, 2026Close98.063Aug 7, 2026Close98.188Aug 10, 2026Close98.063Aug 11, 2026Close98.125Aug 12, 2026Close98.188Aug 13, 2026Close98.313Aug 14, 2026Close98.250Aug 17, 2026Close98.250Aug 18, 2026Close98.250Aug 19, 2026Close98.250Aug 20, 2026Close98.219Aug 21, 2026Close98.125Aug 24, 2026Close98.125Aug 25, 2026Close98.250Aug 26, 2026Close98.188Aug 27, 2026Close98.156Aug 28, 2026Close97.906Aug 31, 2026Close97.906Sep 1, 2026Close97.781Sep 2, 2026Close97.813Sep 3, 2026Close97.906Sep 4, 2026Close97.844Sep 8, 2026Close97.781Sep 9, 2026Close97.719
The most recent 20 trading days of prices for 91282CQE4.
DateBidOfferClose
Sep 9, 202697.71997.71997.719
Sep 8, 202697.81397.81397.781
Sep 4, 202697.85997.84497.844
Sep 3, 202697.95397.93897.906
Sep 2, 202697.81397.81397.813
Sep 1, 202697.85997.84497.781
Aug 31, 202697.92297.90697.906
Aug 28, 202697.96997.96997.906
Aug 27, 202698.20398.18898.156
Aug 26, 202698.20398.18898.188
Aug 25, 202698.25098.25098.250
Aug 24, 202698.17298.15698.125
Aug 21, 202698.10998.09498.125
Aug 20, 202698.23498.21998.219
Aug 19, 202698.23498.21998.250
Aug 18, 202698.25098.25098.250
Aug 17, 202698.28198.28198.250
Aug 14, 202698.31398.31398.250
Aug 13, 202698.32898.31398.313
Aug 12, 202698.21998.21998.188

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 91282CQE4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 10, 2026Mar 16, 2026New issue$58.0bn$58.0bn2.55x3.579%

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.