Treasury note

912828YG9 · 1.625% due September 30, 2026

Original term
7-Year
Maturity
Sep 30, 2026
Coupon
1.625%
Pays
Semi-Annual
Dated
Sep 30, 2019
First coupon
Mar 31, 2020
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$35.32bn
Held stripped
$32.0m
Share stripped
0.09%

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 10, 2026

Yield to maturity
withheld
Modified duration
0.052 yr
DV01
0.0005
Convexity
0.005
Dirty price
100.603

Yield and duration are withheld this close to maturity, not missing. Inside a month a Treasury trades on settlement mechanics rather than on yield, and its price is a rounding of par, annualizing a two-day stub produces a number in the tens of percent that would be arithmetically correct and completely misleading. The price, the residual and the key rate durations below are unaffected.

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. All of it sits at 3M. For a security with a single remaining cashflow that is the true shape, not missing data.

Against the fitted curve

Priced 0.84 cents per 100 of face cheap to the curve on that day.

Shown as a price rather than a yield. This security was close enough to maturity that annualizing is meaningless, the same reason it carries no yield to maturity above, and the same difference quoted in basis points would read as an enormous mispricing rather than the few cents it is.

Yield to maturity, 1,739 observations

0%1%2%3%4%5%6%Sep 30, 2019Sep 10, 2026Sep 30, 2019Yield to maturity1.620%Nov 27, 2019Yield to maturity1.722%Jan 28, 2020Yield to maturity1.551%Mar 25, 2020Yield to maturity0.748%May 21, 2020Yield to maturity0.486%Jul 20, 2020Yield to maturity0.403%Sep 15, 2020Yield to maturity0.373%Nov 12, 2020Yield to maturity0.507%Jan 12, 2021Yield to maturity0.616%Mar 11, 2021Yield to maturity0.913%May 6, 2021Yield to maturity0.900%Jul 2, 2021Yield to maturity0.896%Aug 30, 2021Yield to maturity0.783%Oct 27, 2021Yield to maturity1.134%Dec 27, 2021Yield to maturity1.258%Feb 23, 2022Yield to maturity1.903%Apr 21, 2022Yield to maturity2.979%Jun 17, 2022Yield to maturity3.397%Aug 16, 2022Yield to maturity3.047%Oct 13, 2022Yield to maturity4.357%Dec 12, 2022Yield to maturity3.959%Feb 9, 2023Yield to maturity4.051%Apr 7, 2023Yield to maturity3.674%Jun 5, 2023Yield to maturity4.054%Aug 2, 2023Yield to maturity4.510%Sep 28, 2023Yield to maturity4.812%Nov 27, 2023Yield to maturity4.603%Jan 25, 2024Yield to maturity4.152%Mar 22, 2024Yield to maturity4.436%May 17, 2024Yield to maturity4.718%Jul 17, 2024Yield to maturity4.361%Sep 12, 2024Yield to maturity3.639%Nov 8, 2024Yield to maturity4.260%Jan 9, 2025Yield to maturity4.270%Mar 10, 2025Yield to maturity3.946%May 5, 2025Yield to maturity3.938%Jul 2, 2025Yield to maturity3.964%Aug 28, 2025Yield to maturity3.875%Oct 27, 2025Yield to maturity3.638%Dec 24, 2025Yield to maturity3.596%Feb 24, 2026Yield to maturity3.664%Apr 21, 2026Yield to maturity3.715%Jun 17, 2026Yield to maturity3.835%Aug 14, 2026Yield to maturity3.691%

Price history

1,739 trading days to Sep 10, 2026

859095100105110Sep 30, 2019Sep 10, 2026Sep 30, 2019Close100.031Nov 27, 2019Close99.375Jan 28, 2020Close100.469Mar 25, 2020Close105.563May 21, 2020Close107.125Jul 20, 2020Close107.469Sep 15, 2020Close107.469Nov 12, 2020Close106.469Jan 12, 2021Close105.656Mar 11, 2021Close103.844May 6, 2021Close103.813Jul 2, 2021Close103.719Aug 30, 2021Close104.188Oct 27, 2021Close102.344Dec 27, 2021Close101.688Feb 23, 2022Close98.781Apr 21, 2022Close94.406Jun 17, 2022Close93.000Aug 16, 2022Close94.531Oct 13, 2022Close90.156Dec 12, 2022Close91.844Feb 9, 2023Close91.875Apr 7, 2023Close93.375Jun 5, 2023Close92.531Aug 2, 2023Close91.594Sep 28, 2023Close91.188Nov 27, 2023Close92.156Jan 25, 2024Close93.656Mar 22, 2024Close93.375May 17, 2024Close93.156Jul 17, 2024Close94.313Sep 12, 2024Close96.063Nov 8, 2024Close95.281Jan 9, 2025Close95.656Mar 10, 2025Close96.531May 5, 2025Close96.875Jul 2, 2025Close97.188Aug 28, 2025Close97.625Oct 27, 2025Close98.188Dec 24, 2025Close98.531Feb 24, 2026Close98.813Apr 21, 2026Close99.094Jun 17, 2026Close99.375Aug 14, 2026Close99.750Sep 10, 2026Close99.875
The most recent 20 trading days of prices for 912828YG9.
DateBidOfferClose
Sep 10, 2026–99.87599.875
Sep 9, 2026–99.87599.875
Sep 8, 2026–99.87599.875
Sep 4, 2026–99.87599.875
Sep 3, 2026–99.84499.844
Sep 2, 2026–99.84499.844
Sep 1, 2026–99.81399.813
Aug 31, 2026–99.81399.813
Aug 28, 2026–99.81399.813
Aug 27, 2026–99.81399.813
Aug 26, 2026–99.78199.781
Aug 25, 2026–99.78199.781
Aug 24, 2026–99.78199.781
Aug 21, 2026–99.78199.781
Aug 20, 2026–99.75099.750
Aug 19, 2026–99.75099.750
Aug 18, 2026–99.75099.750
Aug 17, 2026–99.75099.750
Aug 14, 2026–99.75099.750
Aug 13, 2026–99.71999.719

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 912828YG9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 26, 2019Sep 30, 2019New issue$32.0bn$35.3bn2.49x1.633%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.