Treasury note

9128282R0 · 2.25% due August 15, 2027

Original term
10-Year
Maturity
Aug 15, 2027
Coupon
2.250%
Pays
Semi-Annual
Dated
Aug 15, 2017
First coupon
Feb 15, 2018
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$67.42bn
Held stripped
$52.7m
Share stripped
0.08%

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, November 9, 2026

Yield to maturity
4.391%
Modified duration
0.742 yr
DV01
0.0073
Convexity
0.00916
Dirty price
98.938

Where its rate sensitivity sits

<.01
0.36
0.39
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 3 of twelve buckets, summing to 0.756 years against a modified duration of 0.742.

Against the fitted curve

Priced 2.5 bp cheap to the curve on that day, 1.85 cents per 100 of face.

That is 0.54 standard deviations from its own typical residual.

Yield to maturity, 2,309 observations

0%1%2%3%4%5%6%Aug 15, 2017Nov 9, 2026Aug 15, 2017Yield to maturity2.268%Aug 29, 2017Yield to maturity2.131%Sep 13, 2017Yield to maturity2.194%Sep 27, 2017Yield to maturity2.303%Oct 12, 2017Yield to maturity2.325%Oct 26, 2017Yield to maturity2.455%Nov 9, 2017Yield to maturity2.340%Nov 24, 2017Yield to maturity2.358%Dec 8, 2017Yield to maturity2.388%Dec 22, 2017Yield to maturity2.484%Jan 9, 2018Yield to maturity2.549%Jan 24, 2018Yield to maturity2.652%Feb 7, 2018Yield to maturity2.854%Feb 22, 2018Yield to maturity2.946%Mar 8, 2018Yield to maturity2.878%Mar 22, 2018Yield to maturity2.833%Apr 6, 2018Yield to maturity2.776%Apr 20, 2018Yield to maturity2.961%May 4, 2018Yield to maturity2.947%May 18, 2018Yield to maturity3.079%Jun 4, 2018Yield to maturity2.949%Jun 18, 2018Yield to maturity2.931%Jul 2, 2018Yield to maturity2.873%Jul 17, 2018Yield to maturity2.868%Jul 31, 2018Yield to maturity2.960%Aug 14, 2018Yield to maturity2.897%Aug 28, 2018Yield to maturity2.883%Sep 12, 2018Yield to maturity2.956%Sep 26, 2018Yield to maturity3.063%Oct 11, 2018Yield to maturity3.142%Oct 25, 2018Yield to maturity3.124%Nov 8, 2018Yield to maturity3.226%Nov 26, 2018Yield to maturity3.055%Dec 11, 2018Yield to maturity2.868%Dec 26, 2018Yield to maturity2.795%Jan 10, 2019Yield to maturity2.705%Jan 25, 2019Yield to maturity2.724%Feb 8, 2019Yield to maturity2.596%Feb 25, 2019Yield to maturity2.635%Mar 11, 2019Yield to maturity2.603%Mar 25, 2019Yield to maturity2.382%Apr 8, 2019Yield to maturity2.479%Apr 23, 2019Yield to maturity2.526%May 7, 2019Yield to maturity2.405%May 21, 2019Yield to maturity2.384%Jun 5, 2019Yield to maturity2.058%Jun 19, 2019Yield to maturity1.950%Jul 3, 2019Yield to maturity1.883%Jul 18, 2019Yield to maturity1.952%Aug 1, 2019Yield to maturity1.822%Aug 15, 2019Yield to maturity1.489%Aug 29, 2019Yield to maturity1.473%Sep 13, 2019Yield to maturity1.853%Sep 27, 2019Yield to maturity1.638%Oct 11, 2019Yield to maturity1.694%Oct 28, 2019Yield to maturity1.772%Nov 12, 2019Yield to maturity1.854%Nov 26, 2019Yield to maturity1.690%Dec 11, 2019Yield to maturity1.748%Dec 26, 2019Yield to maturity1.844%Jan 10, 2020Yield to maturity1.755%Jan 27, 2020Yield to maturity1.533%Feb 10, 2020Yield to maturity1.482%Feb 25, 2020Yield to maturity1.261%Mar 10, 2020Yield to maturity0.764%Mar 24, 2020Yield to maturity0.785%Apr 7, 2020Yield to maturity0.654%Apr 22, 2020Yield to maturity0.523%May 6, 2020Yield to maturity0.576%May 20, 2020Yield to maturity0.527%Jun 4, 2020Yield to maturity0.635%Jun 18, 2020Yield to maturity0.534%Jul 2, 2020Yield to maturity0.499%Jul 17, 2020Yield to maturity0.469%Jul 31, 2020Yield to maturity0.388%Aug 14, 2020Yield to maturity0.493%Aug 28, 2020Yield to maturity0.497%Sep 14, 2020Yield to maturity0.440%Sep 28, 2020Yield to maturity0.435%Oct 13, 2020Yield to maturity0.487%Oct 27, 2020Yield to maturity0.526%Nov 10, 2020Yield to maturity0.681%Nov 25, 2020Yield to maturity0.596%Dec 10, 2020Yield to maturity0.596%Dec 24, 2020Yield to maturity0.590%Jan 11, 2021Yield to maturity0.755%Jan 26, 2021Yield to maturity0.649%Feb 9, 2021Yield to maturity0.734%Feb 24, 2021Yield to maturity0.910%Mar 10, 2021Yield to maturity1.095%Mar 24, 2021Yield to maturity1.147%Apr 7, 2021Yield to maturity1.200%Apr 21, 2021Yield to maturity1.105%May 5, 2021Yield to maturity1.093%May 19, 2021Yield to maturity1.167%Jun 3, 2021Yield to maturity1.120%Jun 17, 2021Yield to maturity1.107%Jul 1, 2021Yield to maturity1.086%Jul 16, 2021Yield to maturity0.945%Jul 30, 2021Yield to maturity0.845%Aug 13, 2021Yield to maturity0.929%Aug 27, 2021Yield to maturity0.932%Sep 13, 2021Yield to maturity0.934%Sep 27, 2021Yield to maturity1.126%Oct 12, 2021Yield to maturity1.216%Oct 26, 2021Yield to maturity1.313%Nov 9, 2021Yield to maturity1.176%Nov 24, 2021Yield to maturity1.433%Dec 9, 2021Yield to maturity1.333%Dec 23, 2021Yield to maturity1.326%Jan 7, 2022Yield to maturity1.577%Jan 24, 2022Yield to maturity1.589%Feb 7, 2022Yield to maturity1.802%Feb 22, 2022Yield to maturity1.876%Mar 8, 2022Yield to maturity1.838%Mar 22, 2022Yield to maturity2.424%Apr 5, 2022Yield to maturity2.703%Apr 20, 2022Yield to maturity2.900%May 4, 2022Yield to maturity2.964%May 18, 2022Yield to maturity2.929%Jun 2, 2022Yield to maturity2.968%Jun 16, 2022Yield to maturity3.400%Jul 1, 2022Yield to maturity2.939%Jul 18, 2022Yield to maturity3.108%Aug 1, 2022Yield to maturity2.697%Aug 15, 2022Yield to maturity2.947%Aug 29, 2022Yield to maturity3.317%Sep 13, 2022Yield to maturity3.628%Sep 27, 2022Yield to maturity4.254%Oct 12, 2022Yield to maturity4.164%Oct 26, 2022Yield to maturity4.254%Nov 9, 2022Yield to maturity4.323%Nov 25, 2022Yield to maturity3.935%Dec 9, 2022Yield to maturity3.825%Dec 23, 2022Yield to maturity3.915%Jan 10, 2023Yield to maturity3.774%Jan 25, 2023Yield to maturity3.600%Feb 8, 2023Yield to maturity3.878%Feb 23, 2023Yield to maturity4.198%Mar 9, 2023Yield to maturity4.329%Mar 23, 2023Yield to maturity3.478%Apr 6, 2023Yield to maturity3.440%Apr 20, 2023Yield to maturity3.710%May 4, 2023Yield to maturity3.355%May 18, 2023Yield to maturity3.777%Jun 2, 2023Yield to maturity3.954%Jun 16, 2023Yield to maturity4.125%Jul 3, 2023Yield to maturity4.344%Jul 18, 2023Yield to maturity4.134%Aug 1, 2023Yield to maturity4.392%Aug 15, 2023Yield to maturity4.484%Aug 29, 2023Yield to maturity4.413%Sep 13, 2023Yield to maturity4.527%Sep 27, 2023Yield to maturity4.801%Oct 12, 2023Yield to maturity4.780%Oct 26, 2023Yield to maturity4.861%Nov 9, 2023Yield to maturity4.737%Nov 24, 2023Yield to maturity4.616%Dec 8, 2023Yield to maturity4.376%Dec 22, 2023Yield to maturity3.991%Jan 9, 2024Yield to maturity4.078%Jan 24, 2024Yield to maturity4.158%Feb 7, 2024Yield to maturity4.158%Feb 22, 2024Yield to maturity4.454%Mar 7, 2024Yield to maturity4.231%Mar 21, 2024Yield to maturity4.387%Apr 5, 2024Yield to maturity4.532%Apr 19, 2024Yield to maturity4.794%May 3, 2024Yield to maturity4.616%May 17, 2024Yield to maturity4.589%Jun 3, 2024Yield to maturity4.607%Jun 17, 2024Yield to maturity4.512%Jul 2, 2024Yield to maturity4.564%Jul 17, 2024Yield to maturity4.218%Jul 31, 2024Yield to maturity4.117%Aug 14, 2024Yield to maturity3.773%Aug 28, 2024Yield to maturity3.757%Sep 12, 2024Yield to maturity3.521%Sep 26, 2024Yield to maturity3.572%Oct 10, 2024Yield to maturity3.937%Oct 25, 2024Yield to maturity4.074%Nov 8, 2024Yield to maturity4.225%Nov 25, 2024Yield to maturity4.226%Dec 10, 2024Yield to maturity4.115%Dec 24, 2024Yield to maturity4.404%Jan 9, 2025Yield to maturity4.317%Jan 24, 2025Yield to maturity4.314%Feb 7, 2025Yield to maturity4.304%Feb 24, 2025Yield to maturity4.171%Mar 10, 2025Yield to maturity3.907%Mar 24, 2025Yield to maturity4.018%Apr 7, 2025Yield to maturity3.731%Apr 22, 2025Yield to maturity3.829%May 6, 2025Yield to maturity3.781%May 20, 2025Yield to maturity3.958%Jun 4, 2025Yield to maturity3.867%Jun 18, 2025Yield to maturity3.928%Jul 3, 2025Yield to maturity3.901%Jul 18, 2025Yield to maturity3.883%Aug 1, 2025Yield to maturity3.717%Aug 15, 2025Yield to maturity3.762%Aug 29, 2025Yield to maturity3.639%Sep 15, 2025Yield to maturity3.544%Sep 29, 2025Yield to maturity3.658%Oct 14, 2025Yield to maturity3.490%Oct 28, 2025Yield to maturity3.498%Nov 12, 2025Yield to maturity3.582%Nov 26, 2025Yield to maturity3.518%Dec 11, 2025Yield to maturity3.546%Dec 26, 2025Yield to maturity3.502%Jan 12, 2026Yield to maturity3.554%Jan 27, 2026Yield to maturity3.567%Feb 10, 2026Yield to maturity3.470%Feb 25, 2026Yield to maturity3.504%Mar 11, 2026Yield to maturity3.674%Mar 25, 2026Yield to maturity3.925%Apr 8, 2026Yield to maturity3.826%Apr 22, 2026Yield to maturity3.797%May 6, 2026Yield to maturity3.843%May 20, 2026Yield to maturity3.946%Jun 4, 2026Yield to maturity3.976%Jun 18, 2026Yield to maturity4.161%Jul 6, 2026Yield to maturity4.114%Jul 20, 2026Yield to maturity4.150%Aug 3, 2026Yield to maturity4.190%Aug 17, 2026Yield to maturity4.068%Aug 31, 2026Yield to maturity4.242%Sep 15, 2026Yield to maturity4.437%Sep 29, 2026Yield to maturity4.605%Oct 14, 2026Yield to maturity4.563%Oct 28, 2026Yield to maturity4.508%Nov 9, 2026Yield to maturity4.391%

Price history

2,309 trading days to Nov 9, 2026

9095100105110115Aug 15, 2017Nov 9, 2026Aug 15, 2017Close99.844Aug 29, 2017Close101.063Sep 13, 2017Close100.500Sep 27, 2017Close99.531Oct 12, 2017Close99.344Oct 26, 2017Close98.219Nov 9, 2017Close99.219Nov 24, 2017Close99.063Dec 8, 2017Close98.813Dec 22, 2017Close98.000Jan 9, 2018Close97.469Jan 24, 2018Close96.625Feb 7, 2018Close95.000Feb 22, 2018Close94.281Mar 8, 2018Close94.844Mar 22, 2018Close95.219Apr 6, 2018Close95.688Apr 20, 2018Close94.250May 4, 2018Close94.375May 18, 2018Close93.375Jun 4, 2018Close94.406Jun 18, 2018Close94.563Jul 2, 2018Close95.031Jul 17, 2018Close95.094Jul 31, 2018Close94.406Aug 14, 2018Close94.906Aug 28, 2018Close95.031Sep 12, 2018Close94.500Sep 26, 2018Close93.719Oct 11, 2018Close93.156Oct 25, 2018Close93.313Nov 8, 2018Close92.594Nov 26, 2018Close93.875Dec 11, 2018Close95.281Dec 26, 2018Close95.844Jan 10, 2019Close96.531Jan 25, 2019Close96.406Feb 8, 2019Close97.375Feb 25, 2019Close97.094Mar 11, 2019Close97.344Mar 25, 2019Close99.000Apr 8, 2019Close98.281Apr 23, 2019Close97.938May 7, 2019Close98.844May 21, 2019Close99.000Jun 5, 2019Close101.438Jun 19, 2019Close102.250Jul 3, 2019Close102.750Jul 18, 2019Close102.219Aug 1, 2019Close103.188Aug 15, 2019Close105.719Aug 29, 2019Close105.813Sep 13, 2019Close102.906Sep 27, 2019Close104.500Oct 11, 2019Close104.063Oct 28, 2019Close103.469Nov 12, 2019Close102.844Nov 26, 2019Close104.031Dec 11, 2019Close103.594Dec 26, 2019Close102.875Jan 10, 2020Close103.500Jan 27, 2020Close105.094Feb 10, 2020Close105.438Feb 25, 2020Close107.031Mar 10, 2020Close110.719Mar 24, 2020Close110.500Apr 7, 2020Close111.438Apr 22, 2020Close112.375May 6, 2020Close111.906May 20, 2020Close112.219Jun 4, 2020Close111.344Jun 18, 2020Close112.031Jul 2, 2020Close112.219Jul 17, 2020Close112.375Jul 31, 2020Close112.906Aug 14, 2020Close112.063Aug 28, 2020Close111.969Sep 14, 2020Close112.313Sep 28, 2020Close112.281Oct 13, 2020Close111.844Oct 27, 2020Close111.500Nov 10, 2020Close110.344Nov 25, 2020Close110.875Dec 10, 2020Close110.813Dec 24, 2020Close110.781Jan 11, 2021Close109.594Jan 26, 2021Close110.250Feb 9, 2021Close109.625Feb 24, 2021Close108.406Mar 10, 2021Close107.156Mar 24, 2021Close106.781Apr 7, 2021Close106.406Apr 21, 2021Close106.969May 5, 2021Close107.000May 19, 2021Close106.500Jun 3, 2021Close106.750Jun 17, 2021Close106.781Jul 1, 2021Close106.875Jul 16, 2021Close107.688Jul 30, 2021Close108.250Aug 13, 2021Close107.688Aug 27, 2021Close107.625Sep 13, 2021Close107.563Sep 27, 2021Close106.375Oct 12, 2021Close105.813Oct 26, 2021Close105.219Nov 9, 2021Close105.969Nov 24, 2021Close104.469Dec 9, 2021Close105.000Dec 23, 2021Close105.000Jan 7, 2022Close103.594Jan 24, 2022Close103.500Feb 7, 2022Close102.344Feb 22, 2022Close101.938Mar 8, 2022Close102.125Mar 22, 2022Close99.125Apr 5, 2022Close97.750Apr 20, 2022Close96.813May 4, 2022Close96.531May 18, 2022Close96.719Jun 2, 2022Close96.563Jun 16, 2022Close94.594Jul 1, 2022Close96.750Jul 18, 2022Close96.000Aug 1, 2022Close97.906Aug 15, 2022Close96.781Aug 29, 2022Close95.156Sep 13, 2022Close93.844Sep 27, 2022Close91.250Oct 12, 2022Close91.688Oct 26, 2022Close91.375Nov 9, 2022Close91.156Nov 25, 2022Close92.813Dec 9, 2022Close93.313Dec 23, 2022Close93.000Jan 10, 2023Close93.625Jan 25, 2023Close94.375Feb 8, 2023Close93.313Feb 23, 2023Close92.125Mar 9, 2023Close91.688Mar 23, 2023Close95.031Apr 6, 2023Close95.219Apr 20, 2023Close94.219May 4, 2023Close95.625May 18, 2023Close94.063Jun 2, 2023Close93.469Jun 16, 2023Close92.906Jul 3, 2023Close92.188Jul 18, 2023Close93.000Aug 1, 2023Close92.156Aug 15, 2023Close91.906Aug 29, 2023Close92.219Sep 13, 2023Close91.906Sep 27, 2023Close91.063Oct 12, 2023Close91.219Oct 26, 2023Close91.031Nov 9, 2023Close91.531Nov 24, 2023Close92.000Dec 8, 2023Close92.844Dec 22, 2023Close94.156Jan 9, 2024Close93.938Jan 24, 2024Close93.750Feb 7, 2024Close93.813Feb 22, 2024Close92.969Mar 7, 2024Close93.719Mar 21, 2024Close93.313Apr 5, 2024Close92.969Apr 19, 2024Close92.281May 3, 2024Close92.875May 17, 2024Close93.031Jun 3, 2024Close93.063Jun 17, 2024Close93.406Jul 2, 2024Close93.344Jul 17, 2024Close94.375Jul 31, 2024Close94.719Aug 14, 2024Close95.719Aug 28, 2024Close95.813Sep 12, 2024Close96.500Sep 26, 2024Close96.406Oct 10, 2024Close95.500Oct 25, 2024Close95.219Nov 8, 2024Close94.906Nov 25, 2024Close94.969Dec 10, 2024Close95.313Dec 24, 2024Close94.688Jan 9, 2025Close94.969Jan 24, 2025Close95.063Feb 7, 2025Close95.156Feb 24, 2025Close95.531Mar 10, 2025Close96.188Mar 24, 2025Close96.000Apr 7, 2025Close96.688Apr 22, 2025Close96.531May 6, 2025Close96.688May 20, 2025Close96.375Jun 4, 2025Close96.625Jun 18, 2025Close96.563Jul 3, 2025Close96.688Jul 18, 2025Close96.781Aug 1, 2025Close97.156Aug 15, 2025Close97.125Aug 29, 2025Close97.406Sep 15, 2025Close97.625Sep 29, 2025Close97.469Oct 14, 2025Close97.813Oct 28, 2025Close97.844Nov 12, 2025Close97.750Nov 26, 2025Close97.906Dec 11, 2025Close97.906Dec 26, 2025Close98.031Jan 12, 2026Close98.000Jan 27, 2026Close98.031Feb 10, 2026Close98.219Feb 25, 2026Close98.219Mar 11, 2026Close98.031Mar 25, 2026Close97.750Apr 8, 2026Close97.938Apr 22, 2026Close98.031May 6, 2026Close98.031May 20, 2026Close97.969Jun 4, 2026Close98.000Jun 18, 2026Close97.875Jul 6, 2026Close98.000Jul 20, 2026Close98.031Aug 3, 2026Close98.063Aug 17, 2026Close98.250Aug 31, 2026Close98.156Sep 15, 2026Close98.063Sep 29, 2026Close98.000Oct 14, 2026Close98.125Oct 28, 2026Close98.250Nov 9, 2026Close98.406
The most recent 20 trading days of prices for 9128282R0.
DateBidOfferClose
Nov 9, 202698.40698.42298.406
Nov 6, 202698.40698.42298.438
Nov 5, 202698.37598.40698.406
Nov 4, 202698.37598.37598.344
Nov 3, 202698.34498.35998.344
Nov 2, 202698.34498.35998.344
Oct 30, 202698.34498.35998.375
Oct 29, 202698.31398.32898.313
Oct 28, 202698.25098.26698.250
Oct 27, 202698.25098.26698.250
Oct 26, 202698.25098.26698.250
Oct 23, 202698.28198.29798.281
Oct 22, 202698.25098.25098.250
Oct 21, 202698.18898.20398.188
Oct 20, 202698.18898.21998.188
Oct 19, 202698.18898.20398.188
Oct 16, 202698.18898.21998.188
Oct 15, 202698.15698.17298.156
Oct 14, 202698.09498.12598.125
Oct 13, 202698.12598.14198.156

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

3 auctions

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 9128282R0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 9, 2017Aug 15, 2017New issue$23.0bn$29.9bn2.23x2.250%
Sep 12, 2017Sep 15, 2017Reopening$20.0bn$20.0bn2.28x2.180%
Oct 11, 2017Oct 16, 2017Reopening$20.0bn$20.0bn2.54x2.346%

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.