Treasury note

91282CQF1 · 4.25% due March 31, 2033

Original term
7-Year
Maturity
Mar 31, 2033
Coupon
4.250%
Pays
Semi-Annual
Dated
Mar 31, 2026
First coupon
Sep 30, 2026
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$48.55bn
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
4.697%
Modified duration
5.538 yr
DV01
0.0550
Convexity
36.529
Dirty price
99.393

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 5.665 years against a modified duration of 5.538.

Against the fitted curve

Priced 2.6 bp cheap to the curve on that day, 14.33 cents per 100 of face.

That is 0.35 standard deviations from its own typical residual.

Yield to maturity, 113 observations

4.0%4.1%4.2%4.3%4.4%4.5%4.6%4.7%Mar 31, 2026Sep 9, 2026Mar 31, 2026Yield to maturity4.110%Apr 1, 2026Yield to maturity4.146%Apr 2, 2026Yield to maturity4.120%Apr 3, 2026Yield to maturity4.167%Apr 6, 2026Yield to maturity4.161%Apr 7, 2026Yield to maturity4.130%Apr 8, 2026Yield to maturity4.099%Apr 9, 2026Yield to maturity4.099%Apr 10, 2026Yield to maturity4.120%Apr 13, 2026Yield to maturity4.099%Apr 14, 2026Yield to maturity4.052%Apr 15, 2026Yield to maturity4.078%Apr 16, 2026Yield to maturity4.099%Apr 17, 2026Yield to maturity4.031%Apr 20, 2026Yield to maturity4.036%Apr 21, 2026Yield to maturity4.083%Apr 22, 2026Yield to maturity4.093%Apr 23, 2026Yield to maturity4.129%Apr 24, 2026Yield to maturity4.098%Apr 27, 2026Yield to maturity4.134%Apr 28, 2026Yield to maturity4.155%Apr 29, 2026Yield to maturity4.223%Apr 30, 2026Yield to maturity4.197%May 1, 2026Yield to maturity4.192%May 4, 2026Yield to maturity4.255%May 5, 2026Yield to maturity4.239%May 6, 2026Yield to maturity4.165%May 7, 2026Yield to maturity4.213%May 8, 2026Yield to maturity4.181%May 11, 2026Yield to maturity4.228%May 12, 2026Yield to maturity4.286%May 13, 2026Yield to maturity4.276%May 14, 2026Yield to maturity4.286%May 15, 2026Yield to maturity4.420%May 18, 2026Yield to maturity4.425%May 19, 2026Yield to maturity4.490%May 20, 2026Yield to maturity4.382%May 21, 2026Yield to maturity4.398%May 22, 2026Yield to maturity4.399%May 26, 2026Yield to maturity4.324%May 27, 2026Yield to maturity4.313%May 28, 2026Yield to maturity4.286%May 29, 2026Yield to maturity4.276%Jun 1, 2026Yield to maturity4.313%Jun 2, 2026Yield to maturity4.297%Jun 3, 2026Yield to maturity4.340%Jun 4, 2026Yield to maturity4.313%Jun 5, 2026Yield to maturity4.405%Jun 8, 2026Yield to maturity4.410%Jun 9, 2026Yield to maturity4.378%Jun 10, 2026Yield to maturity4.394%Jun 11, 2026Yield to maturity4.297%Jun 12, 2026Yield to maturity4.329%Jun 15, 2026Yield to maturity4.308%Jun 16, 2026Yield to maturity4.270%Jun 17, 2026Yield to maturity4.362%Jun 18, 2026Yield to maturity4.330%Jun 22, 2026Yield to maturity4.384%Jun 23, 2026Yield to maturity4.367%Jun 24, 2026Yield to maturity4.276%Jun 25, 2026Yield to maturity4.254%Jun 26, 2026Yield to maturity4.228%Jun 29, 2026Yield to maturity4.233%Jun 30, 2026Yield to maturity4.287%Jul 1, 2026Yield to maturity4.335%Jul 2, 2026Yield to maturity4.335%Jul 6, 2026Yield to maturity4.319%Jul 7, 2026Yield to maturity4.384%Jul 8, 2026Yield to maturity4.417%Jul 9, 2026Yield to maturity4.384%Jul 10, 2026Yield to maturity4.412%Jul 13, 2026Yield to maturity4.472%Jul 14, 2026Yield to maturity4.423%Jul 15, 2026Yield to maturity4.374%Jul 16, 2026Yield to maturity4.396%Jul 17, 2026Yield to maturity4.390%Jul 20, 2026Yield to maturity4.434%Jul 21, 2026Yield to maturity4.478%Jul 22, 2026Yield to maturity4.517%Jul 23, 2026Yield to maturity4.561%Jul 24, 2026Yield to maturity4.534%Jul 27, 2026Yield to maturity4.501%Jul 28, 2026Yield to maturity4.457%Jul 29, 2026Yield to maturity4.495%Jul 30, 2026Yield to maturity4.501%Jul 31, 2026Yield to maturity4.573%Aug 3, 2026Yield to maturity4.518%Aug 4, 2026Yield to maturity4.452%Aug 5, 2026Yield to maturity4.446%Aug 6, 2026Yield to maturity4.507%Aug 7, 2026Yield to maturity4.463%Aug 10, 2026Yield to maturity4.530%Aug 11, 2026Yield to maturity4.513%Aug 12, 2026Yield to maturity4.497%Aug 13, 2026Yield to maturity4.442%Aug 14, 2026Yield to maturity4.486%Aug 17, 2026Yield to maturity4.514%Aug 18, 2026Yield to maturity4.503%Aug 19, 2026Yield to maturity4.459%Aug 20, 2026Yield to maturity4.503%Aug 21, 2026Yield to maturity4.543%Aug 24, 2026Yield to maturity4.520%Aug 25, 2026Yield to maturity4.454%Aug 26, 2026Yield to maturity4.482%Aug 27, 2026Yield to maturity4.498%Aug 28, 2026Yield to maturity4.577%Aug 31, 2026Yield to maturity4.594%Sep 1, 2026Yield to maturity4.645%Sep 2, 2026Yield to maturity4.639%Sep 3, 2026Yield to maturity4.611%Sep 4, 2026Yield to maturity4.634%Sep 8, 2026Yield to maturity4.657%Sep 9, 2026Yield to maturity4.697%

Price history

113 trading days to Sep 9, 2026

979899100101102Mar 31, 2026Sep 9, 2026Mar 31, 2026Close100.844Apr 1, 2026Close100.625Apr 2, 2026Close100.781Apr 3, 2026Close100.500Apr 6, 2026Close100.531Apr 7, 2026Close100.719Apr 8, 2026Close100.906Apr 9, 2026Close100.906Apr 10, 2026Close100.781Apr 13, 2026Close100.906Apr 14, 2026Close101.188Apr 15, 2026Close101.031Apr 16, 2026Close100.906Apr 17, 2026Close101.313Apr 20, 2026Close101.281Apr 21, 2026Close101.000Apr 22, 2026Close100.938Apr 23, 2026Close100.719Apr 24, 2026Close100.906Apr 27, 2026Close100.688Apr 28, 2026Close100.563Apr 29, 2026Close100.156Apr 30, 2026Close100.313May 1, 2026Close100.344May 4, 2026Close99.969May 5, 2026Close100.063May 6, 2026Close100.500May 7, 2026Close100.219May 8, 2026Close100.406May 11, 2026Close100.125May 12, 2026Close99.781May 13, 2026Close99.844May 14, 2026Close99.781May 15, 2026Close99.000May 18, 2026Close98.969May 19, 2026Close98.594May 20, 2026Close99.219May 21, 2026Close99.125May 22, 2026Close99.125May 26, 2026Close99.563May 27, 2026Close99.625May 28, 2026Close99.781May 29, 2026Close99.844Jun 1, 2026Close99.625Jun 2, 2026Close99.719Jun 3, 2026Close99.469Jun 4, 2026Close99.625Jun 5, 2026Close99.094Jun 8, 2026Close99.063Jun 9, 2026Close99.250Jun 10, 2026Close99.156Jun 11, 2026Close99.719Jun 12, 2026Close99.531Jun 15, 2026Close99.656Jun 16, 2026Close99.875Jun 17, 2026Close99.344Jun 18, 2026Close99.531Jun 22, 2026Close99.219Jun 23, 2026Close99.313Jun 24, 2026Close99.844Jun 25, 2026Close99.969Jun 26, 2026Close100.125Jun 29, 2026Close100.094Jun 30, 2026Close99.781Jul 1, 2026Close99.500Jul 2, 2026Close99.500Jul 6, 2026Close99.594Jul 7, 2026Close99.219Jul 8, 2026Close99.031Jul 9, 2026Close99.219Jul 10, 2026Close99.063Jul 13, 2026Close98.719Jul 14, 2026Close99.000Jul 15, 2026Close99.281Jul 16, 2026Close99.156Jul 17, 2026Close99.188Jul 20, 2026Close98.938Jul 21, 2026Close98.688Jul 22, 2026Close98.469Jul 23, 2026Close98.219Jul 24, 2026Close98.375Jul 27, 2026Close98.563Jul 28, 2026Close98.813Jul 29, 2026Close98.594Jul 30, 2026Close98.563Jul 31, 2026Close98.156Aug 3, 2026Close98.469Aug 4, 2026Close98.844Aug 5, 2026Close98.875Aug 6, 2026Close98.531Aug 7, 2026Close98.781Aug 10, 2026Close98.406Aug 11, 2026Close98.500Aug 12, 2026Close98.594Aug 13, 2026Close98.906Aug 14, 2026Close98.656Aug 17, 2026Close98.500Aug 18, 2026Close98.563Aug 19, 2026Close98.813Aug 20, 2026Close98.563Aug 21, 2026Close98.344Aug 24, 2026Close98.469Aug 25, 2026Close98.844Aug 26, 2026Close98.688Aug 27, 2026Close98.594Aug 28, 2026Close98.156Aug 31, 2026Close98.063Sep 1, 2026Close97.781Sep 2, 2026Close97.813Sep 3, 2026Close97.969Sep 4, 2026Close97.844Sep 8, 2026Close97.719Sep 9, 2026Close97.500
The most recent 20 trading days of prices for 91282CQF1.
DateBidOfferClose
Sep 9, 202697.48497.46997.500
Sep 8, 202697.78197.78197.719
Sep 4, 202697.89197.87597.844
Sep 3, 202698.07898.06397.969
Sep 2, 202697.76697.75097.813
Sep 1, 202697.95397.93897.781
Aug 31, 202698.04798.03198.063
Aug 28, 202698.32898.31398.156
Aug 27, 202698.71998.71998.594
Aug 26, 202698.73498.71998.688
Aug 25, 202698.79798.78198.844
Aug 24, 202698.56398.56398.469
Aug 21, 202698.32898.31398.344
Aug 20, 202698.54798.53198.563
Aug 19, 202698.75098.75098.813
Aug 18, 202698.56398.56398.563
Aug 17, 202698.60998.59498.500
Aug 14, 202698.71998.71998.656
Aug 13, 202698.89198.87598.906
Aug 12, 202698.68898.68898.594

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 91282CQF1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 26, 2026Mar 31, 2026New issue$44.0bn$48.5bn2.43x4.255%

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.