Treasury note

912828ZE3 · 0.625% due March 31, 2027

Original term
7-Year
Maturity
Mar 31, 2027
Coupon
0.625%
Pays
Semi-Annual
Dated
Mar 31, 2020
First coupon
Sep 30, 2020
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$35.88bn
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, November 9, 2026

Yield to maturity
4.147%
Modified duration
0.381 yr
DV01
0.0038
Convexity
0.00291
Dirty price
98.727

Where its rate sensitivity sits

0.18
0.21
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 2 of twelve buckets, summing to 0.386 years against a modified duration of 0.381.

Against the fitted curve

Priced 10.0 bp rich to the curve on that day, 3.77 cents per 100 of face.

That is -2.00 standard deviations from its own typical residual.

Yield to maturity, 1,654 observations

0%1%2%3%4%5%6%Mar 31, 2020Nov 9, 2026Mar 31, 2020Yield to maturity0.552%Apr 9, 2020Yield to maturity0.598%Apr 21, 2020Yield to maturity0.478%Apr 30, 2020Yield to maturity0.524%May 11, 2020Yield to maturity0.556%May 20, 2020Yield to maturity0.518%Jun 1, 2020Yield to maturity0.495%Jun 10, 2020Yield to maturity0.545%Jun 19, 2020Yield to maturity0.517%Jun 30, 2020Yield to maturity0.474%Jul 10, 2020Yield to maturity0.469%Jul 21, 2020Yield to maturity0.431%Jul 30, 2020Yield to maturity0.378%Aug 10, 2020Yield to maturity0.396%Aug 19, 2020Yield to maturity0.452%Aug 28, 2020Yield to maturity0.475%Sep 9, 2020Yield to maturity0.441%Sep 18, 2020Yield to maturity0.440%Sep 29, 2020Yield to maturity0.396%Oct 8, 2020Yield to maturity0.488%Oct 20, 2020Yield to maturity0.511%Oct 29, 2020Yield to maturity0.551%Nov 9, 2020Yield to maturity0.630%Nov 19, 2020Yield to maturity0.555%Dec 1, 2020Yield to maturity0.595%Dec 10, 2020Yield to maturity0.559%Dec 21, 2020Yield to maturity0.569%Dec 31, 2020Yield to maturity0.533%Jan 12, 2021Yield to maturity0.697%Jan 22, 2021Yield to maturity0.635%Feb 2, 2021Yield to maturity0.646%Feb 11, 2021Yield to maturity0.661%Feb 23, 2021Yield to maturity0.830%Mar 4, 2021Yield to maturity1.035%Mar 15, 2021Yield to maturity1.102%Mar 24, 2021Yield to maturity1.077%Apr 2, 2021Yield to maturity1.222%Apr 13, 2021Yield to maturity1.092%Apr 22, 2021Yield to maturity1.033%May 3, 2021Yield to maturity1.057%May 12, 2021Yield to maturity1.092%May 21, 2021Yield to maturity1.039%Jun 2, 2021Yield to maturity1.001%Jun 11, 2021Yield to maturity0.925%Jun 22, 2021Yield to maturity1.016%Jul 1, 2021Yield to maturity1.024%Jul 13, 2021Yield to maturity0.963%Jul 22, 2021Yield to maturity0.811%Aug 2, 2021Yield to maturity0.755%Aug 11, 2021Yield to maturity0.899%Aug 20, 2021Yield to maturity0.871%Aug 31, 2021Yield to maturity0.861%Sep 10, 2021Yield to maturity0.897%Sep 21, 2021Yield to maturity0.916%Sep 30, 2021Yield to maturity1.077%Oct 12, 2021Yield to maturity1.164%Oct 21, 2021Yield to maturity1.293%Nov 1, 2021Yield to maturity1.260%Nov 10, 2021Yield to maturity1.270%Nov 22, 2021Yield to maturity1.354%Dec 2, 2021Yield to maturity1.221%Dec 13, 2021Yield to maturity1.230%Dec 22, 2021Yield to maturity1.258%Jan 3, 2022Yield to maturity1.382%Jan 12, 2022Yield to maturity1.527%Jan 24, 2022Yield to maturity1.545%Feb 2, 2022Yield to maturity1.615%Feb 11, 2022Yield to maturity1.845%Feb 23, 2022Yield to maturity1.905%Mar 4, 2022Yield to maturity1.658%Mar 15, 2022Yield to maturity2.123%Mar 24, 2022Yield to maturity2.386%Apr 4, 2022Yield to maturity2.580%Apr 13, 2022Yield to maturity2.676%Apr 25, 2022Yield to maturity2.855%May 4, 2022Yield to maturity2.940%May 13, 2022Yield to maturity2.902%May 24, 2022Yield to maturity2.774%Jun 3, 2022Yield to maturity2.974%Jun 14, 2022Yield to maturity3.641%Jun 24, 2022Yield to maturity3.207%Jul 6, 2022Yield to maturity3.000%Jul 15, 2022Yield to maturity3.084%Jul 26, 2022Yield to maturity2.928%Aug 4, 2022Yield to maturity2.802%Aug 15, 2022Yield to maturity2.947%Aug 24, 2022Yield to maturity3.265%Sep 2, 2022Yield to maturity3.355%Sep 14, 2022Yield to maturity3.660%Sep 23, 2022Yield to maturity4.044%Oct 4, 2022Yield to maturity3.921%Oct 14, 2022Yield to maturity4.342%Oct 25, 2022Yield to maturity4.320%Nov 3, 2022Yield to maturity4.444%Nov 15, 2022Yield to maturity3.998%Nov 25, 2022Yield to maturity3.998%Dec 6, 2022Yield to maturity3.845%Dec 15, 2022Yield to maturity3.735%Dec 27, 2022Yield to maturity4.028%Jan 6, 2023Yield to maturity3.766%Jan 18, 2023Yield to maturity3.499%Jan 27, 2023Yield to maturity3.703%Feb 7, 2023Yield to maturity3.926%Feb 16, 2023Yield to maturity4.161%Feb 28, 2023Yield to maturity4.299%Mar 9, 2023Yield to maturity4.368%Mar 20, 2023Yield to maturity3.717%Mar 29, 2023Yield to maturity3.800%Apr 7, 2023Yield to maturity3.596%Apr 18, 2023Yield to maturity3.798%Apr 27, 2023Yield to maturity3.706%May 8, 2023Yield to maturity3.591%May 17, 2023Yield to maturity3.693%May 26, 2023Yield to maturity4.109%Jun 7, 2023Yield to maturity4.093%Jun 16, 2023Yield to maturity4.181%Jun 28, 2023Yield to maturity4.175%Jul 10, 2023Yield to maturity4.424%Jul 19, 2023Yield to maturity4.180%Jul 28, 2023Yield to maturity4.390%Aug 8, 2023Yield to maturity4.274%Aug 17, 2023Yield to maturity4.564%Aug 28, 2023Yield to maturity4.587%Sep 7, 2023Yield to maturity4.565%Sep 18, 2023Yield to maturity4.651%Sep 27, 2023Yield to maturity4.839%Oct 6, 2023Yield to maturity4.835%Oct 18, 2023Yield to maturity5.017%Oct 27, 2023Yield to maturity4.815%Nov 7, 2023Yield to maturity4.649%Nov 16, 2023Yield to maturity4.558%Nov 28, 2023Yield to maturity4.454%Dec 7, 2023Yield to maturity4.274%Dec 18, 2023Yield to maturity4.120%Dec 28, 2023Yield to maturity3.994%Jan 9, 2024Yield to maturity4.095%Jan 19, 2024Yield to maturity4.165%Jan 30, 2024Yield to maturity4.124%Feb 8, 2024Yield to maturity4.243%Feb 20, 2024Yield to maturity4.374%Feb 29, 2024Yield to maturity4.416%Mar 11, 2024Yield to maturity4.264%Mar 20, 2024Yield to maturity4.401%Apr 1, 2024Yield to maturity4.527%Apr 10, 2024Yield to maturity4.803%Apr 19, 2024Yield to maturity4.821%Apr 30, 2024Yield to maturity4.881%May 9, 2024Yield to maturity4.629%May 20, 2024Yield to maturity4.621%May 30, 2024Yield to maturity4.761%Jun 10, 2024Yield to maturity4.690%Jun 20, 2024Yield to maturity4.510%Jul 1, 2024Yield to maturity4.631%Jul 11, 2024Yield to maturity4.330%Jul 22, 2024Yield to maturity4.345%Jul 31, 2024Yield to maturity4.153%Aug 9, 2024Yield to maturity3.940%Aug 20, 2024Yield to maturity3.865%Aug 29, 2024Yield to maturity3.815%Sep 10, 2024Yield to maturity3.517%Sep 19, 2024Yield to maturity3.518%Sep 30, 2024Yield to maturity3.622%Oct 9, 2024Yield to maturity3.960%Oct 21, 2024Yield to maturity3.976%Oct 30, 2024Yield to maturity4.140%Nov 8, 2024Yield to maturity4.233%Nov 20, 2024Yield to maturity4.285%Dec 2, 2024Yield to maturity4.157%Dec 11, 2024Yield to maturity4.150%Dec 20, 2024Yield to maturity4.320%Jan 2, 2025Yield to maturity4.261%Jan 13, 2025Yield to maturity4.421%Jan 23, 2025Yield to maturity4.294%Feb 3, 2025Yield to maturity4.265%Feb 12, 2025Yield to maturity4.389%Feb 24, 2025Yield to maturity4.183%Mar 5, 2025Yield to maturity4.010%Mar 14, 2025Yield to maturity4.043%Mar 25, 2025Yield to maturity4.017%Apr 3, 2025Yield to maturity3.734%Apr 14, 2025Yield to maturity3.868%Apr 24, 2025Yield to maturity3.826%May 5, 2025Yield to maturity3.841%May 14, 2025Yield to maturity4.064%May 23, 2025Yield to maturity4.015%Jun 4, 2025Yield to maturity3.911%Jun 13, 2025Yield to maturity3.966%Jun 25, 2025Yield to maturity3.826%Jul 7, 2025Yield to maturity3.946%Jul 16, 2025Yield to maturity3.934%Jul 25, 2025Yield to maturity3.953%Aug 5, 2025Yield to maturity3.758%Aug 14, 2025Yield to maturity3.785%Aug 25, 2025Yield to maturity3.760%Sep 4, 2025Yield to maturity3.666%Sep 15, 2025Yield to maturity3.595%Sep 24, 2025Yield to maturity3.665%Oct 3, 2025Yield to maturity3.615%Oct 15, 2025Yield to maturity3.557%Oct 24, 2025Yield to maturity3.526%Nov 4, 2025Yield to maturity3.625%Nov 14, 2025Yield to maturity3.673%Nov 25, 2025Yield to maturity3.556%Dec 5, 2025Yield to maturity3.605%Dec 16, 2025Yield to maturity3.508%Dec 26, 2025Yield to maturity3.531%Jan 7, 2026Yield to maturity3.488%Jan 16, 2026Yield to maturity3.596%Jan 28, 2026Yield to maturity3.574%Feb 6, 2026Yield to maturity3.537%Feb 18, 2026Yield to maturity3.520%Feb 27, 2026Yield to maturity3.510%Mar 10, 2026Yield to maturity3.609%Mar 19, 2026Yield to maturity3.809%Mar 30, 2026Yield to maturity3.774%Apr 8, 2026Yield to maturity3.753%Apr 17, 2026Yield to maturity3.679%Apr 28, 2026Yield to maturity3.761%May 7, 2026Yield to maturity3.774%May 18, 2026Yield to maturity3.846%May 28, 2026Yield to maturity3.834%Jun 8, 2026Yield to maturity3.914%Jun 17, 2026Yield to maturity4.017%Jun 29, 2026Yield to maturity3.992%Jul 9, 2026Yield to maturity4.029%Jul 20, 2026Yield to maturity3.989%Jul 29, 2026Yield to maturity4.016%Aug 7, 2026Yield to maturity3.973%Aug 18, 2026Yield to maturity3.949%Aug 27, 2026Yield to maturity3.923%Sep 8, 2026Yield to maturity3.944%Sep 17, 2026Yield to maturity4.160%Sep 28, 2026Yield to maturity4.308%Oct 7, 2026Yield to maturity4.226%Oct 19, 2026Yield to maturity4.273%Oct 28, 2026Yield to maturity4.255%Nov 6, 2026Yield to maturity4.122%Nov 9, 2026Yield to maturity4.147%

Price history

1,654 trading days to Nov 9, 2026

80859095100105Mar 31, 2020Nov 9, 2026Mar 31, 2020Close100.500Apr 9, 2020Close100.188Apr 21, 2020Close101.000Apr 30, 2020Close100.688May 11, 2020Close100.469May 20, 2020Close100.719Jun 1, 2020Close100.875Jun 10, 2020Close100.531Jun 19, 2020Close100.719Jun 30, 2020Close101.000Jul 10, 2020Close101.031Jul 21, 2020Close101.281Jul 30, 2020Close101.625Aug 10, 2020Close101.500Aug 19, 2020Close101.125Aug 28, 2020Close100.969Sep 9, 2020Close101.188Sep 18, 2020Close101.188Sep 29, 2020Close101.469Oct 8, 2020Close100.875Oct 20, 2020Close100.719Oct 29, 2020Close100.469Nov 9, 2020Close99.969Nov 19, 2020Close100.438Dec 1, 2020Close100.188Dec 10, 2020Close100.406Dec 21, 2020Close100.344Dec 31, 2020Close100.563Jan 12, 2021Close99.563Jan 22, 2021Close99.938Feb 2, 2021Close99.875Feb 11, 2021Close99.781Feb 23, 2021Close98.781Mar 4, 2021Close97.594Mar 15, 2021Close97.219Mar 24, 2021Close97.375Apr 2, 2021Close96.563Apr 13, 2021Close97.313Apr 22, 2021Close97.656May 3, 2021Close97.531May 12, 2021Close97.344May 21, 2021Close97.656Jun 2, 2021Close97.875Jun 11, 2021Close98.313Jun 22, 2021Close97.813Jul 1, 2021Close97.781Jul 13, 2021Close98.125Jul 22, 2021Close98.969Aug 2, 2021Close99.281Aug 11, 2021Close98.500Aug 20, 2021Close98.656Aug 31, 2021Close98.719Sep 10, 2021Close98.531Sep 21, 2021Close98.438Sep 30, 2021Close97.594Oct 12, 2021Close97.156Oct 21, 2021Close96.500Nov 1, 2021Close96.688Nov 10, 2021Close96.656Nov 22, 2021Close96.250Dec 2, 2021Close96.938Dec 13, 2021Close96.906Dec 22, 2021Close96.781Jan 3, 2022Close96.188Jan 12, 2022Close95.500Jan 24, 2022Close95.438Feb 2, 2022Close95.125Feb 11, 2022Close94.063Feb 23, 2022Close93.813Mar 4, 2022Close95.000Mar 15, 2022Close92.875Mar 24, 2022Close91.719Apr 4, 2022Close90.906Apr 13, 2022Close90.531Apr 25, 2022Close89.813May 4, 2022Close89.500May 13, 2022Close89.719May 24, 2022Close90.313Jun 3, 2022Close89.531Jun 14, 2022Close86.844Jun 24, 2022Close88.688Jul 6, 2022Close89.594Jul 15, 2022Close89.313Jul 26, 2022Close90.000Aug 4, 2022Close90.563Aug 15, 2022Close90.031Aug 24, 2022Close88.813Sep 2, 2022Close88.531Sep 14, 2022Close87.406Sep 23, 2022Close86.031Oct 4, 2022Close86.563Oct 14, 2022Close85.094Oct 25, 2022Close85.250Nov 3, 2022Close84.875Nov 15, 2022Close86.594Nov 25, 2022Close86.688Dec 6, 2022Close87.313Dec 15, 2022Close87.781Dec 27, 2022Close86.813Jan 6, 2023Close87.844Jan 18, 2023Close88.875Jan 27, 2023Close88.219Feb 7, 2023Close87.500Feb 16, 2023Close86.750Feb 28, 2023Close86.375Mar 9, 2023Close86.219Mar 20, 2023Close88.531Mar 29, 2023Close88.313Apr 7, 2023Close89.094Apr 18, 2023Close88.469Apr 27, 2023Close88.844May 8, 2023Close89.313May 17, 2023Close89.031May 26, 2023Close87.750Jun 7, 2023Close87.875Jun 16, 2023Close87.688Jun 28, 2023Close87.781Jul 10, 2023Close87.094Jul 19, 2023Close87.938Jul 28, 2023Close87.375Aug 8, 2023Close87.813Aug 17, 2023Close87.000Aug 28, 2023Close87.031Sep 7, 2023Close87.188Sep 18, 2023Close87.031Sep 27, 2023Close86.563Oct 6, 2023Close86.688Oct 18, 2023Close86.250Oct 27, 2023Close86.938Nov 7, 2023Close87.500Nov 16, 2023Close87.844Nov 28, 2023Close88.250Dec 7, 2023Close88.844Dec 18, 2023Close89.375Dec 28, 2023Close89.813Jan 9, 2024Close89.625Jan 19, 2024Close89.531Jan 30, 2024Close89.719Feb 8, 2024Close89.469Feb 20, 2024Close89.219Feb 29, 2024Close89.188Mar 11, 2024Close89.688Mar 20, 2024Close89.406Apr 1, 2024Close89.188Apr 10, 2024Close88.563Apr 19, 2024Close88.625Apr 30, 2024Close88.563May 9, 2024Close89.281May 20, 2024Close89.406May 30, 2024Close89.156Jun 10, 2024Close89.438Jun 20, 2024Close89.969Jul 1, 2024Close89.781Jul 11, 2024Close90.594Jul 22, 2024Close90.656Jul 31, 2024Close91.188Aug 9, 2024Close91.781Aug 20, 2024Close92.031Aug 29, 2024Close92.219Sep 10, 2024Close93.000Sep 19, 2024Close93.063Sep 30, 2024Close92.906Oct 9, 2024Close92.219Oct 21, 2024Close92.281Oct 30, 2024Close92.000Nov 8, 2024Close91.906Nov 20, 2024Close91.875Dec 2, 2024Close92.250Dec 11, 2024Close92.344Dec 20, 2024Close92.094Jan 2, 2025Close92.313Jan 13, 2025Close92.094Jan 23, 2025Close92.438Feb 3, 2025Close92.594Feb 12, 2025Close92.438Feb 24, 2025Close92.938Mar 5, 2025Close93.344Mar 14, 2025Close93.375Mar 25, 2025Close93.500Apr 3, 2025Close94.094Apr 14, 2025Close93.938Apr 24, 2025Close94.094May 5, 2025Close94.156May 14, 2025Close93.844May 23, 2025Close94.031Jun 4, 2025Close94.281Jun 13, 2025Close94.281Jun 25, 2025Close94.594Jul 7, 2025Close94.500Jul 16, 2025Close94.594Jul 25, 2025Close94.656Aug 5, 2025Close95.031Aug 14, 2025Close95.063Aug 25, 2025Close95.188Sep 4, 2025Close95.406Sep 15, 2025Close95.594Sep 24, 2025Close95.563Oct 3, 2025Close95.719Oct 15, 2025Close95.875Oct 24, 2025Close96.000Nov 4, 2025Close95.938Nov 14, 2025Close95.969Nov 25, 2025Close96.188Dec 5, 2025Close96.219Dec 16, 2025Close96.406Dec 26, 2025Close96.469Jan 7, 2026Close96.594Jan 16, 2026Close96.563Jan 28, 2026Close96.656Feb 6, 2026Close96.781Feb 18, 2026Close96.875Feb 27, 2026Close96.969Mar 10, 2026Close96.938Mar 19, 2026Close96.813Mar 30, 2026Close96.938Apr 8, 2026Close97.031Apr 17, 2026Close97.188Apr 28, 2026Close97.188May 7, 2026Close97.250May 18, 2026Close97.281May 28, 2026Close97.375Jun 8, 2026Close97.406Jun 17, 2026Close97.406Jun 29, 2026Close97.531Jul 9, 2026Close97.594Jul 20, 2026Close97.719Jul 29, 2026Close97.781Aug 7, 2026Close97.906Aug 18, 2026Close98.000Aug 27, 2026Close98.094Sep 8, 2026Close98.188Sep 17, 2026Close98.156Sep 28, 2026Close98.188Oct 7, 2026Close98.313Oct 19, 2026Close98.406Oct 28, 2026Close98.500Nov 6, 2026Close98.656Nov 9, 2026Close98.656
The most recent 20 trading days of prices for 912828ZE3.
DateBidOfferClose
Nov 9, 202698.656–98.656
Nov 6, 202698.656–98.656
Nov 5, 202698.625–98.625
Nov 4, 202698.594–98.594
Nov 3, 202698.594–98.594
Nov 2, 202698.594–98.594
Oct 30, 202698.563–98.563
Oct 29, 202698.531–98.531
Oct 28, 202698.500–98.500
Oct 27, 202698.500–98.500
Oct 26, 202698.500–98.500
Oct 23, 202698.469–98.469
Oct 22, 202698.469–98.438
Oct 21, 202698.438–98.438
Oct 20, 202698.406–98.406
Oct 19, 202698.406–98.406
Oct 16, 202698.406–98.406
Oct 15, 202698.344–98.344
Oct 14, 202698.344–98.344
Oct 13, 202698.344–98.344

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.

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 912828ZE3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 26, 2020Mar 31, 2020New issue$32.0bn$36.3bn2.76x0.680%

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.