Treasury note

9128286T2 · 2.375% due May 15, 2029

Original term
10-Year
Maturity
May 15, 2029
Coupon
2.375%
Pays
Semi-Annual
Dated
May 15, 2019
First coupon
Nov 15, 2019
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$84.17bn
Held stripped
$43.4m
Share stripped
0.05%

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
4.597%
Modified duration
2.369 yr
DV01
0.0227
Convexity
0.0692
Dirty price
95.936

Where its rate sensitivity sits

0.01
0.02
1.19
1.20
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 2.420 years against a modified duration of 2.369.

Against the fitted curve

Priced 0.9 bp rich to the curve on that day, 2.06 cents per 100 of face.

That is -0.21 standard deviations from its own typical residual.

Yield to maturity, 1,873 observations

0%1%2%3%4%5%6%May 15, 2019Nov 9, 2026May 15, 2019Yield to maturity2.375%May 28, 2019Yield to maturity2.262%Jun 7, 2019Yield to maturity2.084%Jun 19, 2019Yield to maturity2.028%Jul 1, 2019Yield to maturity2.031%Jul 12, 2019Yield to maturity2.113%Jul 24, 2019Yield to maturity2.046%Aug 5, 2019Yield to maturity1.743%Aug 15, 2019Yield to maturity1.523%Aug 27, 2019Yield to maturity1.494%Sep 9, 2019Yield to maturity1.636%Sep 19, 2019Yield to maturity1.787%Oct 1, 2019Yield to maturity1.652%Oct 11, 2019Yield to maturity1.753%Oct 24, 2019Yield to maturity1.761%Nov 5, 2019Yield to maturity1.854%Nov 18, 2019Yield to maturity1.813%Nov 29, 2019Yield to maturity1.783%Dec 11, 2019Yield to maturity1.789%Dec 23, 2019Yield to maturity1.922%Jan 6, 2020Yield to maturity1.795%Jan 16, 2020Yield to maturity1.797%Jan 29, 2020Yield to maturity1.580%Feb 10, 2020Yield to maturity1.542%Feb 21, 2020Yield to maturity1.449%Mar 4, 2020Yield to maturity1.005%Mar 16, 2020Yield to maturity0.778%Mar 26, 2020Yield to maturity0.830%Apr 7, 2020Yield to maturity0.722%Apr 20, 2020Yield to maturity0.588%Apr 30, 2020Yield to maturity0.616%May 12, 2020Yield to maturity0.644%May 22, 2020Yield to maturity0.614%Jun 4, 2020Yield to maturity0.746%Jun 16, 2020Yield to maturity0.677%Jun 26, 2020Yield to maturity0.578%Jul 9, 2020Yield to maturity0.556%Jul 21, 2020Yield to maturity0.546%Jul 31, 2020Yield to maturity0.483%Aug 12, 2020Yield to maturity0.609%Aug 24, 2020Yield to maturity0.569%Sep 3, 2020Yield to maturity0.537%Sep 16, 2020Yield to maturity0.588%Sep 28, 2020Yield to maturity0.562%Oct 8, 2020Yield to maturity0.657%Oct 21, 2020Yield to maturity0.713%Nov 2, 2020Yield to maturity0.754%Nov 13, 2020Yield to maturity0.772%Nov 25, 2020Yield to maturity0.767%Dec 8, 2020Yield to maturity0.790%Dec 18, 2020Yield to maturity0.802%Dec 31, 2020Yield to maturity0.774%Jan 13, 2021Yield to maturity0.937%Jan 26, 2021Yield to maturity0.873%Feb 5, 2021Yield to maturity0.990%Feb 18, 2021Yield to maturity1.090%Mar 2, 2021Yield to maturity1.234%Mar 12, 2021Yield to maturity1.439%Mar 24, 2021Yield to maturity1.421%Apr 5, 2021Yield to maturity1.540%Apr 15, 2021Yield to maturity1.367%Apr 27, 2021Yield to maturity1.438%May 7, 2021Yield to maturity1.383%May 19, 2021Yield to maturity1.468%Jun 1, 2021Yield to maturity1.408%Jun 11, 2021Yield to maturity1.276%Jun 23, 2021Yield to maturity1.345%Jul 6, 2021Yield to maturity1.216%Jul 16, 2021Yield to maturity1.156%Jul 28, 2021Yield to maturity1.088%Aug 9, 2021Yield to maturity1.159%Aug 19, 2021Yield to maturity1.095%Aug 31, 2021Yield to maturity1.130%Sep 13, 2021Yield to maturity1.150%Sep 23, 2021Yield to maturity1.261%Oct 5, 2021Yield to maturity1.360%Oct 18, 2021Yield to maturity1.461%Oct 28, 2021Yield to maturity1.462%Nov 9, 2021Yield to maturity1.331%Nov 22, 2021Yield to maturity1.562%Dec 3, 2021Yield to maturity1.297%Dec 15, 2021Yield to maturity1.413%Dec 28, 2021Yield to maturity1.400%Jan 7, 2022Yield to maturity1.685%Jan 20, 2022Yield to maturity1.771%Feb 1, 2022Yield to maturity1.764%Feb 11, 2022Yield to maturity1.916%Feb 24, 2022Yield to maturity1.932%Mar 8, 2022Yield to maturity1.839%Mar 18, 2022Yield to maturity2.166%Mar 30, 2022Yield to maturity2.428%Apr 11, 2022Yield to maturity2.830%Apr 22, 2022Yield to maturity2.948%May 4, 2022Yield to maturity2.970%May 16, 2022Yield to maturity2.886%May 26, 2022Yield to maturity2.762%Jun 8, 2022Yield to maturity3.070%Jun 21, 2022Yield to maturity3.399%Jul 1, 2022Yield to maturity2.916%Jul 14, 2022Yield to maturity3.053%Jul 26, 2022Yield to maturity2.889%Aug 5, 2022Yield to maturity2.928%Aug 17, 2022Yield to maturity3.014%Aug 29, 2022Yield to maturity3.268%Sep 9, 2022Yield to maturity3.469%Sep 21, 2022Yield to maturity3.706%Oct 3, 2022Yield to maturity3.876%Oct 14, 2022Yield to maturity4.243%Oct 26, 2022Yield to maturity4.191%Nov 7, 2022Yield to maturity4.377%Nov 18, 2022Yield to maturity3.974%Dec 1, 2022Yield to maturity3.663%Dec 13, 2022Yield to maturity3.640%Dec 23, 2022Yield to maturity3.868%Jan 6, 2023Yield to maturity3.677%Jan 19, 2023Yield to maturity3.474%Jan 31, 2023Yield to maturity3.624%Feb 10, 2023Yield to maturity3.903%Feb 23, 2023Yield to maturity4.085%Mar 7, 2023Yield to maturity4.247%Mar 17, 2023Yield to maturity3.519%Mar 29, 2023Yield to maturity3.702%Apr 10, 2023Yield to maturity3.523%Apr 20, 2023Yield to maturity3.648%May 2, 2023Yield to maturity3.492%May 12, 2023Yield to maturity3.492%May 24, 2023Yield to maturity3.808%Jun 6, 2023Yield to maturity3.860%Jun 16, 2023Yield to maturity3.975%Jun 29, 2023Yield to maturity4.108%Jul 12, 2023Yield to maturity4.054%Jul 24, 2023Yield to maturity4.082%Aug 3, 2023Yield to maturity4.310%Aug 15, 2023Yield to maturity4.367%Aug 25, 2023Yield to maturity4.431%Sep 7, 2023Yield to maturity4.401%Sep 19, 2023Yield to maturity4.533%Sep 29, 2023Yield to maturity4.653%Oct 12, 2023Yield to maturity4.748%Oct 24, 2023Yield to maturity4.872%Nov 3, 2023Yield to maturity4.552%Nov 15, 2023Yield to maturity4.577%Nov 28, 2023Yield to maturity4.361%Dec 8, 2023Yield to maturity4.283%Dec 20, 2023Yield to maturity3.902%Jan 3, 2024Yield to maturity3.933%Jan 16, 2024Yield to maturity3.991%Jan 26, 2024Yield to maturity4.083%Feb 7, 2024Yield to maturity4.078%Feb 20, 2024Yield to maturity4.272%Mar 1, 2024Yield to maturity4.191%Mar 13, 2024Yield to maturity4.214%Mar 25, 2024Yield to maturity4.262%Apr 5, 2024Yield to maturity4.405%Apr 17, 2024Yield to maturity4.644%Apr 29, 2024Yield to maturity4.673%May 9, 2024Yield to maturity4.491%May 21, 2024Yield to maturity4.452%Jun 3, 2024Yield to maturity4.443%Jun 13, 2024Yield to maturity4.259%Jun 26, 2024Yield to maturity4.369%Jul 9, 2024Yield to maturity4.284%Jul 19, 2024Yield to maturity4.190%Jul 31, 2024Yield to maturity3.995%Aug 12, 2024Yield to maturity3.779%Aug 22, 2024Yield to maturity3.749%Sep 4, 2024Yield to maturity3.600%Sep 16, 2024Yield to maturity3.443%Sep 26, 2024Yield to maturity3.577%Oct 8, 2024Yield to maturity3.886%Oct 21, 2024Yield to maturity3.992%Oct 31, 2024Yield to maturity4.160%Nov 13, 2024Yield to maturity4.302%Nov 25, 2024Yield to maturity4.186%Dec 6, 2024Yield to maturity4.045%Dec 18, 2024Yield to maturity4.400%Dec 31, 2024Yield to maturity4.383%Jan 13, 2025Yield to maturity4.591%Jan 24, 2025Yield to maturity4.414%Feb 5, 2025Yield to maturity4.240%Feb 18, 2025Yield to maturity4.391%Feb 28, 2025Yield to maturity4.031%Mar 12, 2025Yield to maturity4.067%Mar 24, 2025Yield to maturity4.071%Apr 3, 2025Yield to maturity3.730%Apr 15, 2025Yield to maturity3.948%Apr 28, 2025Yield to maturity3.761%May 8, 2025Yield to maturity3.954%May 20, 2025Yield to maturity4.020%Jun 2, 2025Yield to maturity3.971%Jun 12, 2025Yield to maturity3.928%Jun 25, 2025Yield to maturity3.797%Jul 8, 2025Yield to maturity3.927%Jul 18, 2025Yield to maturity3.894%Jul 30, 2025Yield to maturity3.914%Aug 11, 2025Yield to maturity3.769%Aug 21, 2025Yield to maturity3.788%Sep 3, 2025Yield to maturity3.622%Sep 15, 2025Yield to maturity3.548%Sep 25, 2025Yield to maturity3.699%Oct 7, 2025Yield to maturity3.634%Oct 20, 2025Yield to maturity3.511%Oct 30, 2025Yield to maturity3.656%Nov 12, 2025Yield to maturity3.600%Nov 24, 2025Yield to maturity3.522%Dec 5, 2025Yield to maturity3.623%Dec 17, 2025Yield to maturity3.572%Dec 30, 2025Yield to maturity3.554%Jan 12, 2026Yield to maturity3.638%Jan 23, 2026Yield to maturity3.703%Feb 4, 2026Yield to maturity3.682%Feb 17, 2026Yield to maturity3.507%Feb 27, 2026Yield to maturity3.401%Mar 11, 2026Yield to maturity3.678%Mar 23, 2026Yield to maturity3.877%Apr 2, 2026Yield to maturity3.834%Apr 14, 2026Yield to maturity3.772%Apr 24, 2026Yield to maturity3.809%May 6, 2026Yield to maturity3.901%May 18, 2026Yield to maturity4.160%May 29, 2026Yield to maturity4.063%Jun 10, 2026Yield to maturity4.185%Jun 23, 2026Yield to maturity4.218%Jul 6, 2026Yield to maturity4.143%Jul 16, 2026Yield to maturity4.196%Jul 28, 2026Yield to maturity4.303%Aug 7, 2026Yield to maturity4.250%Aug 19, 2026Yield to maturity4.243%Aug 31, 2026Yield to maturity4.392%Sep 11, 2026Yield to maturity4.691%Sep 23, 2026Yield to maturity4.953%Oct 5, 2026Yield to maturity4.931%Oct 16, 2026Yield to maturity4.802%Oct 28, 2026Yield to maturity4.773%Nov 9, 2026Yield to maturity4.597%

Price history

1,873 trading days to Nov 9, 2026

859095100105110115120May 15, 2019Nov 9, 2026May 15, 2019Close100.000May 28, 2019Close101.000Jun 7, 2019Close102.594Jun 19, 2019Close103.094Jul 1, 2019Close103.063Jul 12, 2019Close102.313Jul 24, 2019Close102.906Aug 5, 2019Close105.656Aug 15, 2019Close107.688Aug 27, 2019Close107.938Sep 9, 2019Close106.594Sep 19, 2019Close105.188Oct 1, 2019Close106.406Oct 11, 2019Close105.469Oct 24, 2019Close105.375Nov 5, 2019Close104.531Nov 18, 2019Close104.875Nov 29, 2019Close105.125Dec 11, 2019Close105.063Dec 23, 2019Close103.875Jan 6, 2020Close104.969Jan 16, 2020Close104.938Jan 29, 2020Close106.844Feb 10, 2020Close107.156Feb 21, 2020Close107.969Mar 4, 2020Close112.000Mar 16, 2020Close114.094Mar 26, 2020Close113.563Apr 7, 2020Close114.531Apr 20, 2020Close115.750Apr 30, 2020Close115.438May 12, 2020Close115.125May 22, 2020Close115.344Jun 4, 2020Close114.063Jun 16, 2020Close114.656Jun 26, 2020Close115.531Jul 9, 2020Close115.688Jul 21, 2020Close115.719Jul 31, 2020Close116.250Aug 12, 2020Close115.031Aug 24, 2020Close115.344Sep 3, 2020Close115.594Sep 16, 2020Close115.063Sep 28, 2020Close115.250Oct 8, 2020Close114.344Oct 21, 2020Close113.781Nov 2, 2020Close113.375Nov 13, 2020Close113.156Nov 25, 2020Close113.156Dec 8, 2020Close112.906Dec 18, 2020Close112.750Dec 31, 2020Close112.938Jan 13, 2021Close111.500Jan 26, 2021Close112.000Feb 5, 2021Close110.969Feb 18, 2021Close110.094Mar 2, 2021Close108.875Mar 12, 2021Close107.188Mar 24, 2021Close107.313Apr 5, 2021Close106.344Apr 15, 2021Close107.688Apr 27, 2021Close107.094May 7, 2021Close107.500May 19, 2021Close106.813Jun 1, 2021Close107.250Jun 11, 2021Close108.250Jun 23, 2021Close107.688Jul 6, 2021Close108.656Jul 16, 2021Close109.094Jul 28, 2021Close109.594Aug 9, 2021Close109.000Aug 19, 2021Close109.469Aug 31, 2021Close109.156Sep 13, 2021Close108.969Sep 23, 2021Close108.094Oct 5, 2021Close107.313Oct 18, 2021Close106.531Oct 28, 2021Close106.500Nov 9, 2021Close107.438Nov 22, 2021Close105.719Dec 3, 2021Close107.625Dec 15, 2021Close106.750Dec 28, 2021Close106.813Jan 7, 2022Close104.750Jan 20, 2022Close104.125Feb 1, 2022Close104.156Feb 11, 2022Close103.094Feb 24, 2022Close102.969Mar 8, 2022Close103.594Mar 18, 2022Close101.375Mar 30, 2022Close99.656Apr 11, 2022Close97.094Apr 22, 2022Close96.375May 4, 2022Close96.250May 16, 2022Close96.781May 26, 2022Close97.563Jun 8, 2022Close95.688Jun 21, 2022Close93.750Jul 1, 2022Close96.656Jul 14, 2022Close95.844Jul 26, 2022Close96.844Aug 5, 2022Close96.625Aug 17, 2022Close96.125Aug 29, 2022Close94.656Sep 9, 2022Close93.531Sep 21, 2022Close92.219Oct 3, 2022Close91.313Oct 14, 2022Close89.375Oct 26, 2022Close89.688Nov 7, 2022Close88.750Nov 18, 2022Close90.938Dec 1, 2022Close92.656Dec 13, 2022Close92.813Dec 23, 2022Close91.625Jan 6, 2023Close92.688Jan 19, 2023Close93.813Jan 31, 2023Close93.031Feb 10, 2023Close91.594Feb 23, 2023Close90.688Mar 7, 2023Close89.906Mar 17, 2023Close93.719Mar 29, 2023Close92.781Apr 10, 2023Close93.750Apr 20, 2023Close93.125May 2, 2023Close93.969May 12, 2023Close94.000May 24, 2023Close92.406Jun 6, 2023Close92.188Jun 16, 2023Close91.656Jun 29, 2023Close91.031Jul 12, 2023Close91.344Jul 24, 2023Close91.250Aug 3, 2023Close90.188Aug 15, 2023Close89.969Aug 25, 2023Close89.719Sep 7, 2023Close89.906Sep 19, 2023Close89.344Sep 29, 2023Close88.844Oct 12, 2023Close88.469Oct 24, 2023Close87.969Nov 3, 2023Close89.469Nov 15, 2023Close89.406Nov 28, 2023Close90.438Dec 8, 2023Close90.844Dec 20, 2023Close92.625Jan 3, 2024Close92.531Jan 16, 2024Close92.313Jan 26, 2024Close91.938Feb 7, 2024Close92.000Feb 20, 2024Close91.188Mar 1, 2024Close91.594Mar 13, 2024Close91.531Mar 25, 2024Close91.375Apr 5, 2024Close90.813Apr 17, 2024Close89.844Apr 29, 2024Close89.781May 9, 2024Close90.594May 21, 2024Close90.813Jun 3, 2024Close90.906Jun 13, 2024Close91.719Jun 26, 2024Close91.313Jul 9, 2024Close91.719Jul 19, 2024Close92.156Jul 31, 2024Close93.000Aug 12, 2024Close93.938Aug 22, 2024Close94.094Sep 4, 2024Close94.750Sep 16, 2024Close95.438Sep 26, 2024Close94.906Oct 8, 2024Close93.688Oct 21, 2024Close93.313Oct 31, 2024Close92.688Nov 13, 2024Close92.188Nov 25, 2024Close92.688Dec 6, 2024Close93.281Dec 18, 2024Close91.969Dec 31, 2024Close92.094Jan 13, 2025Close91.375Jan 24, 2025Close92.094Feb 5, 2025Close92.781Feb 18, 2025Close92.281Feb 28, 2025Close93.656Mar 12, 2025Close93.563Mar 24, 2025Close93.594Apr 3, 2025Close94.875Apr 15, 2025Close94.125Apr 28, 2025Close94.844May 8, 2025Close94.188May 20, 2025Close94.000Jun 2, 2025Close94.219Jun 12, 2025Close94.406Jun 25, 2025Close94.906Jul 8, 2025Close94.500Jul 18, 2025Close94.656Jul 30, 2025Close94.625Aug 11, 2025Close95.156Aug 21, 2025Close95.125Sep 3, 2025Close95.719Sep 15, 2025Close96.000Sep 25, 2025Close95.531Oct 7, 2025Close95.781Oct 20, 2025Close96.219Oct 30, 2025Close95.781Nov 12, 2025Close96.000Nov 24, 2025Close96.281Dec 5, 2025Close96.000Dec 17, 2025Close96.188Dec 30, 2025Close96.281Jan 12, 2026Close96.063Jan 23, 2026Close95.906Feb 4, 2026Close96.000Feb 17, 2026Close96.563Feb 27, 2026Close96.906Mar 11, 2026Close96.125Mar 23, 2026Close95.594Apr 2, 2026Close95.750Apr 14, 2026Close95.969Apr 24, 2026Close95.906May 6, 2026Close95.688May 18, 2026Close95.031May 29, 2026Close95.344Jun 10, 2026Close95.063Jun 23, 2026Close95.031Jul 6, 2026Close95.281Jul 16, 2026Close95.188Jul 28, 2026Close94.969Aug 7, 2026Close95.156Aug 19, 2026Close95.219Aug 31, 2026Close94.906Sep 11, 2026Close94.250Sep 23, 2026Close93.688Oct 5, 2026Close93.813Oct 16, 2026Close94.188Oct 28, 2026Close94.313Nov 9, 2026Close94.781
The most recent 20 trading days of prices for 9128286T2.
DateBidOfferClose
Nov 9, 202694.78194.79794.781
Nov 6, 202694.84494.85994.844
Nov 5, 202694.81394.84494.938
Nov 4, 202694.65694.67294.688
Nov 3, 202694.62594.64194.594
Nov 2, 202694.68894.70394.656
Oct 30, 202694.56394.59494.656
Oct 29, 202694.46994.50094.469
Oct 28, 202694.21994.23494.313
Oct 27, 202694.31394.32894.281
Oct 26, 202694.31394.34494.313
Oct 23, 202694.34494.37594.375
Oct 22, 202694.31394.32894.438
Oct 21, 202694.09494.12594.063
Oct 20, 202694.12594.15694.094
Oct 19, 202694.12594.14194.125
Oct 16, 202694.21994.23494.188
Oct 15, 202694.09494.12594.094
Oct 14, 202693.81393.84493.969
Oct 13, 202693.93893.96993.969

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.

4 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 9128286T2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 8, 2019May 15, 2019New issue$27.0bn$36.2bn2.17x2.479%
Jun 12, 2019Jun 17, 2019Reopening$24.0bn$24.0bn2.49x2.130%
Jun 21, 2019Jun 26, 2019Reopening$0.0bn$0.0bn3.43x2.065%
Jul 10, 2019Jul 15, 2019Reopening$24.0bn$24.2bn2.41x2.064%

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.