Treasury note

9128284V9 · 2.875% due August 15, 2028

Original term
10-Year
Maturity
Aug 15, 2028
Coupon
2.875%
Pays
Semi-Annual
Dated
Aug 15, 2018
First coupon
Feb 15, 2019
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$72.82bn
Held stripped
$30.7m
Share stripped
0.04%

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
4.569%
Modified duration
1.682 yr
DV01
0.0165
Convexity
0.037
Dirty price
97.836

Where its rate sensitivity sits

<.01
0.01
0.42
1.29
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 1.720 years against a modified duration of 1.682.

Against the fitted curve

Priced 2.1 bp cheap to the curve on that day, 3.46 cents per 100 of face.

That is 2.55 standard deviations from its own typical residual.

Yield to maturity, 2,058 observations

0%1%2%3%4%5%Aug 15, 2018Nov 9, 2026Aug 15, 2018Yield to maturity2.861%Aug 28, 2018Yield to maturity2.882%Sep 11, 2018Yield to maturity2.977%Sep 24, 2018Yield to maturity3.078%Oct 5, 2018Yield to maturity3.233%Oct 19, 2018Yield to maturity3.200%Nov 1, 2018Yield to maturity3.140%Nov 15, 2018Yield to maturity3.114%Nov 29, 2018Yield to maturity3.036%Dec 13, 2018Yield to maturity2.908%Dec 27, 2018Yield to maturity2.767%Jan 10, 2019Yield to maturity2.733%Jan 24, 2019Yield to maturity2.714%Feb 6, 2019Yield to maturity2.692%Feb 20, 2019Yield to maturity2.646%Mar 5, 2019Yield to maturity2.716%Mar 18, 2019Yield to maturity2.596%Mar 29, 2019Yield to maturity2.396%Apr 11, 2019Yield to maturity2.494%Apr 25, 2019Yield to maturity2.522%May 8, 2019Yield to maturity2.473%May 21, 2019Yield to maturity2.415%Jun 4, 2019Yield to maturity2.112%Jun 17, 2019Yield to maturity2.062%Jun 28, 2019Yield to maturity1.976%Jul 12, 2019Yield to maturity2.086%Jul 25, 2019Yield to maturity2.047%Aug 7, 2019Yield to maturity1.679%Aug 20, 2019Yield to maturity1.537%Sep 3, 2019Yield to maturity1.465%Sep 16, 2019Yield to maturity1.825%Sep 27, 2019Yield to maturity1.673%Oct 10, 2019Yield to maturity1.640%Oct 24, 2019Yield to maturity1.741%Nov 6, 2019Yield to maturity1.789%Nov 20, 2019Yield to maturity1.711%Dec 4, 2019Yield to maturity1.751%Dec 17, 2019Yield to maturity1.866%Dec 31, 2019Yield to maturity1.892%Jan 14, 2020Yield to maturity1.783%Jan 28, 2020Yield to maturity1.610%Feb 10, 2020Yield to maturity1.520%Feb 24, 2020Yield to maturity1.348%Mar 6, 2020Yield to maturity0.732%Mar 19, 2020Yield to maturity1.161%Apr 1, 2020Yield to maturity0.577%Apr 15, 2020Yield to maturity0.564%Apr 28, 2020Yield to maturity0.570%May 11, 2020Yield to maturity0.635%May 22, 2020Yield to maturity0.572%Jun 5, 2020Yield to maturity0.786%Jun 18, 2020Yield to maturity0.595%Jul 1, 2020Yield to maturity0.579%Jul 15, 2020Yield to maturity0.533%Jul 28, 2020Yield to maturity0.488%Aug 10, 2020Yield to maturity0.475%Aug 21, 2020Yield to maturity0.513%Sep 3, 2020Yield to maturity0.486%Sep 17, 2020Yield to maturity0.531%Sep 30, 2020Yield to maturity0.526%Oct 14, 2020Yield to maturity0.568%Oct 27, 2020Yield to maturity0.618%Nov 9, 2020Yield to maturity0.765%Nov 23, 2020Yield to maturity0.690%Dec 7, 2020Yield to maturity0.727%Dec 18, 2020Yield to maturity0.722%Jan 4, 2021Yield to maturity0.688%Jan 15, 2021Yield to maturity0.843%Jan 29, 2021Yield to maturity0.839%Feb 11, 2021Yield to maturity0.859%Feb 25, 2021Yield to maturity1.265%Mar 10, 2021Yield to maturity1.250%Mar 23, 2021Yield to maturity1.331%Apr 5, 2021Yield to maturity1.434%Apr 16, 2021Yield to maturity1.292%Apr 29, 2021Yield to maturity1.341%May 12, 2021Yield to maturity1.364%May 25, 2021Yield to maturity1.250%Jun 8, 2021Yield to maturity1.221%Jun 21, 2021Yield to maturity1.252%Jul 2, 2021Yield to maturity1.192%Jul 16, 2021Yield to maturity1.072%Jul 29, 2021Yield to maturity1.022%Aug 11, 2021Yield to maturity1.092%Aug 24, 2021Yield to maturity1.057%Sep 7, 2021Yield to maturity1.110%Sep 20, 2021Yield to maturity1.084%Oct 1, 2021Yield to maturity1.223%Oct 15, 2021Yield to maturity1.378%Oct 28, 2021Yield to maturity1.404%Nov 10, 2021Yield to maturity1.420%Nov 24, 2021Yield to maturity1.534%Dec 8, 2021Yield to maturity1.410%Dec 21, 2021Yield to maturity1.370%Jan 4, 2022Yield to maturity1.533%Jan 18, 2022Yield to maturity1.787%Jan 31, 2022Yield to maturity1.738%Feb 11, 2022Yield to maturity1.920%Feb 25, 2022Yield to maturity1.955%Mar 10, 2022Yield to maturity1.996%Mar 23, 2022Yield to maturity2.403%Apr 5, 2022Yield to maturity2.692%Apr 19, 2022Yield to maturity2.967%May 2, 2022Yield to maturity3.067%May 13, 2022Yield to maturity2.968%May 26, 2022Yield to maturity2.786%Jun 9, 2022Yield to maturity3.121%Jun 23, 2022Yield to maturity3.196%Jul 7, 2022Yield to maturity3.107%Jul 20, 2022Yield to maturity3.206%Aug 2, 2022Yield to maturity2.881%Aug 15, 2022Yield to maturity2.932%Aug 26, 2022Yield to maturity3.247%Sep 9, 2022Yield to maturity3.499%Sep 22, 2022Yield to maturity3.941%Oct 5, 2022Yield to maturity3.997%Oct 19, 2022Yield to maturity4.392%Nov 1, 2022Yield to maturity4.290%Nov 15, 2022Yield to maturity3.973%Nov 29, 2022Yield to maturity3.967%Dec 12, 2022Yield to maturity3.826%Dec 23, 2022Yield to maturity3.903%Jan 9, 2023Yield to maturity3.691%Jan 23, 2023Yield to maturity3.638%Feb 3, 2023Yield to maturity3.688%Feb 16, 2023Yield to maturity4.073%Mar 2, 2023Yield to maturity4.343%Mar 15, 2023Yield to maturity3.624%Mar 28, 2023Yield to maturity3.701%Apr 10, 2023Yield to maturity3.547%Apr 21, 2023Yield to maturity3.684%May 4, 2023Yield to maturity3.336%May 17, 2023Yield to maturity3.626%May 31, 2023Yield to maturity3.802%Jun 13, 2023Yield to maturity4.057%Jun 27, 2023Yield to maturity4.059%Jul 11, 2023Yield to maturity4.266%Jul 24, 2023Yield to maturity4.147%Aug 4, 2023Yield to maturity4.177%Aug 17, 2023Yield to maturity4.454%Aug 30, 2023Yield to maturity4.325%Sep 13, 2023Yield to maturity4.439%Sep 26, 2023Yield to maturity4.675%Oct 10, 2023Yield to maturity4.665%Oct 23, 2023Yield to maturity4.847%Nov 3, 2023Yield to maturity4.544%Nov 16, 2023Yield to maturity4.476%Nov 30, 2023Yield to maturity4.373%Dec 13, 2023Yield to maturity4.060%Dec 27, 2023Yield to maturity3.847%Jan 10, 2024Yield to maturity4.025%Jan 24, 2024Yield to maturity4.112%Feb 6, 2024Yield to maturity4.082%Feb 20, 2024Yield to maturity4.299%Mar 4, 2024Yield to maturity4.269%Mar 15, 2024Yield to maturity4.401%Mar 28, 2024Yield to maturity4.280%Apr 11, 2024Yield to maturity4.674%Apr 24, 2024Yield to maturity4.713%May 7, 2024Yield to maturity4.541%May 20, 2024Yield to maturity4.520%Jun 3, 2024Yield to maturity4.500%Jun 14, 2024Yield to maturity4.333%Jun 28, 2024Yield to maturity4.423%Jul 12, 2024Yield to maturity4.185%Jul 25, 2024Yield to maturity4.221%Aug 7, 2024Yield to maturity3.840%Aug 20, 2024Yield to maturity3.770%Sep 3, 2024Yield to maturity3.716%Sep 16, 2024Yield to maturity3.443%Sep 27, 2024Yield to maturity3.527%Oct 10, 2024Yield to maturity3.935%Oct 24, 2024Yield to maturity4.054%Nov 6, 2024Yield to maturity4.288%Nov 20, 2024Yield to maturity4.292%Dec 4, 2024Yield to maturity4.107%Dec 17, 2024Yield to maturity4.261%Dec 31, 2024Yield to maturity4.354%Jan 14, 2025Yield to maturity4.525%Jan 28, 2025Yield to maturity4.295%Feb 10, 2025Yield to maturity4.328%Feb 24, 2025Yield to maturity4.203%Mar 7, 2025Yield to maturity4.044%Mar 20, 2025Yield to maturity3.963%Apr 2, 2025Yield to maturity3.913%Apr 15, 2025Yield to maturity3.893%Apr 29, 2025Yield to maturity3.676%May 12, 2025Yield to maturity4.020%May 23, 2025Yield to maturity4.012%Jun 6, 2025Yield to maturity4.056%Jun 20, 2025Yield to maturity3.896%Jul 3, 2025Yield to maturity3.876%Jul 17, 2025Yield to maturity3.908%Jul 30, 2025Yield to maturity3.908%Aug 12, 2025Yield to maturity3.729%Aug 25, 2025Yield to maturity3.693%Sep 8, 2025Yield to maturity3.485%Sep 19, 2025Yield to maturity3.584%Oct 2, 2025Yield to maturity3.568%Oct 16, 2025Yield to maturity3.435%Oct 29, 2025Yield to maturity3.597%Nov 12, 2025Yield to maturity3.570%Nov 25, 2025Yield to maturity3.469%Dec 9, 2025Yield to maturity3.639%Dec 22, 2025Yield to maturity3.535%Jan 6, 2026Yield to maturity3.520%Jan 20, 2026Yield to maturity3.646%Feb 2, 2026Yield to maturity3.617%Feb 13, 2026Yield to maturity3.415%Feb 27, 2026Yield to maturity3.382%Mar 12, 2026Yield to maturity3.757%Mar 25, 2026Yield to maturity3.882%Apr 7, 2026Yield to maturity3.840%Apr 20, 2026Yield to maturity3.725%May 1, 2026Yield to maturity3.898%May 14, 2026Yield to maturity4.015%May 28, 2026Yield to maturity4.050%Jun 10, 2026Yield to maturity4.161%Jun 24, 2026Yield to maturity4.152%Jul 8, 2026Yield to maturity4.223%Jul 21, 2026Yield to maturity4.279%Aug 3, 2026Yield to maturity4.270%Aug 14, 2026Yield to maturity4.195%Aug 27, 2026Yield to maturity4.248%Sep 10, 2026Yield to maturity4.570%Sep 23, 2026Yield to maturity4.886%Oct 6, 2026Yield to maturity4.777%Oct 20, 2026Yield to maturity4.779%Nov 2, 2026Yield to maturity4.589%Nov 9, 2026Yield to maturity4.569%

Price history

2,058 trading days to Nov 9, 2026

9095100105110115120Aug 15, 2018Nov 9, 2026Aug 15, 2018Close100.125Aug 28, 2018Close99.938Sep 11, 2018Close99.125Sep 24, 2018Close98.281Oct 5, 2018Close97.000Oct 19, 2018Close97.281Nov 1, 2018Close97.781Nov 15, 2018Close98.000Nov 29, 2018Close98.656Dec 13, 2018Close99.719Dec 27, 2018Close100.906Jan 10, 2019Close101.188Jan 24, 2019Close101.344Feb 6, 2019Close101.531Feb 20, 2019Close101.906Mar 5, 2019Close101.313Mar 18, 2019Close102.313Mar 29, 2019Close104.000Apr 11, 2019Close103.156Apr 25, 2019Close102.906May 8, 2019Close103.313May 21, 2019Close103.781Jun 4, 2019Close106.344Jun 17, 2019Close106.750Jun 28, 2019Close107.469Jul 12, 2019Close106.500Jul 25, 2019Close106.813Aug 7, 2019Close109.969Aug 20, 2019Close111.188Sep 3, 2019Close111.781Sep 16, 2019Close108.594Sep 27, 2019Close109.875Oct 10, 2019Close110.125Oct 24, 2019Close109.219Nov 6, 2019Close108.781Nov 20, 2019Close109.406Dec 4, 2019Close109.031Dec 17, 2019Close108.031Dec 31, 2019Close107.781Jan 14, 2020Close108.656Jan 28, 2020Close110.063Feb 10, 2020Close110.781Feb 24, 2020Close112.188Mar 6, 2020Close117.500Mar 19, 2020Close113.688Apr 1, 2020Close118.750Apr 15, 2020Close118.781Apr 28, 2020Close118.656May 11, 2020Close118.000May 22, 2020Close118.469Jun 5, 2020Close116.531Jun 18, 2020Close118.125Jul 1, 2020Close118.188Jul 15, 2020Close118.500Jul 28, 2020Close118.813Aug 10, 2020Close118.844Aug 21, 2020Close118.438Sep 3, 2020Close118.594Sep 17, 2020Close118.125Sep 30, 2020Close118.094Oct 14, 2020Close117.656Oct 27, 2020Close117.156Nov 9, 2020Close115.875Nov 23, 2020Close116.406Dec 7, 2020Close116.031Dec 18, 2020Close116.000Jan 4, 2021Close116.188Jan 15, 2021Close114.875Jan 29, 2021Close114.844Feb 11, 2021Close114.625Feb 25, 2021Close111.438Mar 10, 2021Close111.500Mar 23, 2021Close110.844Apr 5, 2021Close110.031Apr 16, 2021Close111.031Apr 29, 2021Close110.625May 12, 2021Close110.406May 25, 2021Close111.188Jun 8, 2021Close111.344Jun 21, 2021Close111.063Jul 2, 2021Close111.438Jul 16, 2021Close112.250Jul 29, 2021Close112.563Aug 11, 2021Close112.000Aug 24, 2021Close112.188Sep 7, 2021Close111.750Sep 20, 2021Close111.875Oct 1, 2021Close110.844Oct 15, 2021Close109.719Oct 28, 2021Close109.500Nov 10, 2021Close109.344Nov 24, 2021Close108.531Dec 8, 2021Close109.313Dec 21, 2021Close109.531Jan 4, 2022Close108.406Jan 18, 2022Close106.719Jan 31, 2022Close107.000Feb 11, 2022Close105.813Feb 25, 2022Close105.563Mar 10, 2022Close105.281Mar 23, 2022Close102.781Apr 5, 2022Close101.063Apr 19, 2022Close99.469May 2, 2022Close98.906May 13, 2022Close99.469May 26, 2022Close100.500Jun 9, 2022Close98.625Jun 23, 2022Close98.219Jul 7, 2022Close98.719Jul 20, 2022Close98.188Aug 2, 2022Close99.969Aug 15, 2022Close99.688Aug 26, 2022Close98.000Sep 9, 2022Close96.688Sep 22, 2022Close94.438Oct 5, 2022Close94.188Oct 19, 2022Close92.281Nov 1, 2022Close92.813Nov 15, 2022Close94.406Nov 29, 2022Close94.469Dec 12, 2022Close95.188Dec 23, 2022Close94.844Jan 9, 2023Close95.906Jan 23, 2023Close96.188Feb 3, 2023Close95.969Feb 16, 2023Close94.156Mar 2, 2023Close92.938Mar 15, 2023Close96.344Mar 28, 2023Close96.000Apr 10, 2023Close96.750Apr 21, 2023Close96.125May 4, 2023Close97.781May 17, 2023Close96.438May 31, 2023Close95.656Jun 13, 2023Close94.531Jun 27, 2023Close94.563Jul 11, 2023Close93.688Jul 24, 2023Close94.250Aug 4, 2023Close94.156Aug 17, 2023Close93.000Aug 30, 2023Close93.594Sep 13, 2023Close93.156Sep 26, 2023Close92.219Oct 10, 2023Close92.313Oct 23, 2023Close91.625Nov 3, 2023Close92.906Nov 16, 2023Close93.219Nov 30, 2023Close93.688Dec 13, 2023Close95.000Dec 27, 2023Close95.906Jan 10, 2024Close95.219Jan 24, 2024Close94.906Feb 6, 2024Close95.063Feb 20, 2024Close94.250Mar 4, 2024Close94.406Mar 15, 2024Close93.938Mar 28, 2024Close94.438Apr 11, 2024Close93.000Apr 24, 2024Close92.906May 7, 2024Close93.594May 20, 2024Close93.719Jun 3, 2024Close93.844Jun 14, 2024Close94.500Jun 28, 2024Close94.219Jul 12, 2024Close95.125Jul 25, 2024Close95.031Aug 7, 2024Close96.438Aug 20, 2024Close96.719Sep 3, 2024Close96.938Sep 16, 2024Close97.938Sep 27, 2024Close97.656Oct 10, 2024Close96.250Oct 24, 2024Close95.875Nov 6, 2024Close95.125Nov 20, 2024Close95.156Dec 4, 2024Close95.813Dec 17, 2024Close95.344Dec 31, 2024Close95.094Jan 14, 2025Close94.594Jan 28, 2025Close95.375Feb 10, 2025Close95.313Feb 24, 2025Close95.750Mar 7, 2025Close96.281Mar 20, 2025Close96.563Apr 2, 2025Close96.750Apr 15, 2025Close96.844Apr 29, 2025Close97.531May 12, 2025Close96.531May 23, 2025Close96.594Jun 6, 2025Close96.500Jun 20, 2025Close97.000Jul 3, 2025Close97.094Jul 17, 2025Close97.031Jul 30, 2025Close97.063Aug 12, 2025Close97.594Aug 25, 2025Close97.719Sep 8, 2025Close98.313Sep 19, 2025Close98.063Oct 2, 2025Close98.125Oct 16, 2025Close98.500Oct 29, 2025Close98.094Nov 12, 2025Close98.188Nov 25, 2025Close98.469Dec 9, 2025Close98.063Dec 22, 2025Close98.344Jan 6, 2026Close98.406Jan 20, 2026Close98.125Feb 2, 2026Close98.219Feb 13, 2026Close98.719Feb 27, 2026Close98.813Mar 12, 2026Close97.969Mar 25, 2026Close97.719Apr 7, 2026Close97.844Apr 20, 2026Close98.125May 1, 2026Close97.781May 14, 2026Close97.563May 28, 2026Close97.531Jun 10, 2026Close97.344Jun 24, 2026Close97.406Jul 8, 2026Close97.313Jul 21, 2026Close97.250Aug 3, 2026Close97.313Aug 14, 2026Close97.500Aug 27, 2026Close97.438Sep 10, 2026Close96.906Sep 23, 2026Close96.406Oct 6, 2026Close96.656Oct 20, 2026Close96.719Nov 2, 2026Close97.094Nov 9, 2026Close97.156
The most recent 20 trading days of prices for 9128284V9.
DateBidOfferClose
Nov 9, 202697.15697.17297.156
Nov 6, 202697.21997.23497.219
Nov 5, 202697.18897.20397.313
Nov 4, 202697.06397.09497.094
Nov 3, 202697.06397.07897.031
Nov 2, 202697.09497.10997.094
Oct 30, 202697.03197.06397.094
Oct 29, 202697.00097.01696.969
Oct 28, 202696.78196.79796.875
Oct 27, 202696.84496.85996.844
Oct 26, 202696.87596.89196.844
Oct 23, 202696.90696.92296.906
Oct 22, 202696.87596.89196.938
Oct 21, 202696.71996.73496.688
Oct 20, 202696.75096.76696.719
Oct 19, 202696.75096.76696.750
Oct 16, 202696.81396.82896.813
Oct 15, 202696.71996.75096.719
Oct 14, 202696.56396.57896.625
Oct 13, 202696.65696.67296.688

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 9128284V9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 8, 2018Aug 15, 2018New issue$26.0bn$29.5bn2.55x2.960%
Sep 12, 2018Sep 17, 2018Reopening$23.0bn$23.0bn2.58x2.957%
Oct 10, 2018Oct 15, 2018Reopening$23.0bn$23.0bn2.39x3.225%

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.