Treasury note

91282CAY7 · 0.625% due November 30, 2027

Original term
7-Year
Maturity
Nov 30, 2027
Coupon
0.625%
Pays
Semi-Annual
Dated
Nov 30, 2020
First coupon
May 31, 2021
Priced through
Nov 10, 2026
Analyzed through
Nov 10, 2026

Statement of October 31, 2026

Amount outstanding
$63.15bn
Held stripped
$33.9m
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 10, 2026

Yield to maturity
4.636%
Modified duration
1.021 yr
DV01
0.0098
Convexity
0.0154
Dirty price
96.219

Where its rate sensitivity sits

<.01
0.99
0.05
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 1.044 years against a modified duration of 1.021.

Against the fitted curve

Priced 2.4 bp cheap to the curve on that day, 2.37 cents per 100 of face.

That is 0.96 standard deviations from its own typical residual.

Yield to maturity, 1,488 observations

0%1%2%3%4%5%Nov 30, 2020Nov 10, 2026Nov 30, 2020Yield to maturity0.616%Dec 9, 2020Yield to maturity0.676%Dec 18, 2020Yield to maturity0.662%Dec 30, 2020Yield to maturity0.639%Jan 11, 2021Yield to maturity0.817%Jan 21, 2021Yield to maturity0.766%Feb 1, 2021Yield to maturity0.733%Feb 10, 2021Yield to maturity0.771%Feb 22, 2021Yield to maturity0.969%Mar 3, 2021Yield to maturity1.107%Mar 12, 2021Yield to maturity1.258%Mar 23, 2021Yield to maturity1.240%Apr 1, 2021Yield to maturity1.318%Apr 12, 2021Yield to maturity1.291%Apr 21, 2021Yield to maturity1.182%Apr 30, 2021Yield to maturity1.245%May 11, 2021Yield to maturity1.197%May 20, 2021Yield to maturity1.199%Jun 1, 2021Yield to maturity1.176%Jun 10, 2021Yield to maturity1.051%Jun 21, 2021Yield to maturity1.171%Jun 30, 2021Yield to maturity1.131%Jul 12, 2021Yield to maturity1.041%Jul 21, 2021Yield to maturity0.960%Jul 30, 2021Yield to maturity0.910%Aug 10, 2021Yield to maturity1.030%Aug 19, 2021Yield to maturity0.954%Aug 30, 2021Yield to maturity0.971%Sep 9, 2021Yield to maturity0.978%Sep 20, 2021Yield to maturity1.011%Sep 29, 2021Yield to maturity1.227%Oct 8, 2021Yield to maturity1.268%Oct 20, 2021Yield to maturity1.352%Oct 29, 2021Yield to maturity1.350%Nov 9, 2021Yield to maturity1.232%Nov 19, 2021Yield to maturity1.357%Dec 1, 2021Yield to maturity1.266%Dec 10, 2021Yield to maturity1.353%Dec 21, 2021Yield to maturity1.339%Dec 31, 2021Yield to maturity1.365%Jan 11, 2022Yield to maturity1.620%Jan 21, 2022Yield to maturity1.643%Feb 1, 2022Yield to maturity1.718%Feb 10, 2022Yield to maturity2.019%Feb 22, 2022Yield to maturity1.907%Mar 3, 2022Yield to maturity1.799%Mar 14, 2022Yield to maturity2.156%Mar 23, 2022Yield to maturity2.392%Apr 1, 2022Yield to maturity2.572%Apr 12, 2022Yield to maturity2.727%Apr 22, 2022Yield to maturity2.974%May 3, 2022Yield to maturity3.050%May 12, 2022Yield to maturity2.863%May 23, 2022Yield to maturity2.921%Jun 2, 2022Yield to maturity2.972%Jun 13, 2022Yield to maturity3.598%Jun 23, 2022Yield to maturity3.193%Jul 5, 2022Yield to maturity2.876%Jul 14, 2022Yield to maturity3.110%Jul 25, 2022Yield to maturity2.933%Aug 3, 2022Yield to maturity2.895%Aug 12, 2022Yield to maturity2.997%Aug 23, 2022Yield to maturity3.203%Sep 1, 2022Yield to maturity3.441%Sep 13, 2022Yield to maturity3.617%Sep 22, 2022Yield to maturity3.946%Oct 3, 2022Yield to maturity3.928%Oct 13, 2022Yield to maturity4.246%Oct 24, 2022Yield to maturity4.390%Nov 2, 2022Yield to maturity4.323%Nov 14, 2022Yield to maturity4.033%Nov 23, 2022Yield to maturity3.945%Dec 5, 2022Yield to maturity3.850%Dec 14, 2022Yield to maturity3.684%Dec 23, 2022Yield to maturity3.903%Jan 5, 2023Yield to maturity3.929%Jan 17, 2023Yield to maturity3.627%Jan 26, 2023Yield to maturity3.627%Feb 6, 2023Yield to maturity3.832%Feb 15, 2023Yield to maturity4.070%Feb 27, 2023Yield to maturity4.214%Mar 8, 2023Yield to maturity4.387%Mar 17, 2023Yield to maturity3.513%Mar 28, 2023Yield to maturity3.726%Apr 6, 2023Yield to maturity3.425%Apr 17, 2023Yield to maturity3.754%Apr 26, 2023Yield to maturity3.522%May 5, 2023Yield to maturity3.469%May 16, 2023Yield to maturity3.573%May 25, 2023Yield to maturity4.017%Jun 6, 2023Yield to maturity3.941%Jun 15, 2023Yield to maturity4.018%Jun 27, 2023Yield to maturity4.128%Jul 7, 2023Yield to maturity4.438%Jul 18, 2023Yield to maturity4.096%Jul 27, 2023Yield to maturity4.359%Aug 7, 2023Yield to maturity4.253%Aug 16, 2023Yield to maturity4.503%Aug 25, 2023Yield to maturity4.549%Sep 6, 2023Yield to maturity4.556%Sep 15, 2023Yield to maturity4.566%Sep 26, 2023Yield to maturity4.717%Oct 5, 2023Yield to maturity4.750%Oct 17, 2023Yield to maturity4.932%Oct 26, 2023Yield to maturity4.864%Nov 6, 2023Yield to maturity4.670%Nov 15, 2023Yield to maturity4.600%Nov 27, 2023Yield to maturity4.501%Dec 6, 2023Yield to maturity4.224%Dec 15, 2023Yield to maturity4.008%Dec 27, 2023Yield to maturity3.882%Jan 8, 2024Yield to maturity4.042%Jan 18, 2024Yield to maturity4.075%Jan 29, 2024Yield to maturity4.035%Feb 7, 2024Yield to maturity4.124%Feb 16, 2024Yield to maturity4.370%Feb 28, 2024Yield to maturity4.364%Mar 8, 2024Yield to maturity4.177%Mar 19, 2024Yield to maturity4.420%Mar 28, 2024Yield to maturity4.334%Apr 9, 2024Yield to maturity4.489%Apr 18, 2024Yield to maturity4.784%Apr 29, 2024Yield to maturity4.777%May 8, 2024Yield to maturity4.617%May 17, 2024Yield to maturity4.557%May 29, 2024Yield to maturity4.746%Jun 7, 2024Yield to maturity4.590%Jun 18, 2024Yield to maturity4.397%Jun 28, 2024Yield to maturity4.483%Jul 10, 2024Yield to maturity4.363%Jul 19, 2024Yield to maturity4.256%Jul 30, 2024Yield to maturity4.141%Aug 8, 2024Yield to maturity3.896%Aug 19, 2024Yield to maturity3.849%Aug 28, 2024Yield to maturity3.721%Sep 9, 2024Yield to maturity3.533%Sep 18, 2024Yield to maturity3.500%Sep 27, 2024Yield to maturity3.505%Oct 8, 2024Yield to maturity3.899%Oct 18, 2024Yield to maturity3.887%Oct 29, 2024Yield to maturity4.110%Nov 7, 2024Yield to maturity4.196%Nov 19, 2024Yield to maturity4.258%Nov 29, 2024Yield to maturity4.119%Dec 10, 2024Yield to maturity4.112%Dec 19, 2024Yield to maturity4.372%Dec 31, 2024Yield to maturity4.319%Jan 10, 2025Yield to maturity4.483%Jan 22, 2025Yield to maturity4.344%Jan 31, 2025Yield to maturity4.283%Feb 11, 2025Yield to maturity4.315%Feb 21, 2025Yield to maturity4.218%Mar 4, 2025Yield to maturity3.967%Mar 13, 2025Yield to maturity3.958%Mar 24, 2025Yield to maturity4.022%Apr 2, 2025Yield to maturity3.909%Apr 11, 2025Yield to maturity4.000%Apr 23, 2025Yield to maturity3.888%May 2, 2025Yield to maturity3.831%May 13, 2025Yield to maturity4.027%May 22, 2025Yield to maturity3.991%Jun 3, 2025Yield to maturity3.951%Jun 12, 2025Yield to maturity3.886%Jun 24, 2025Yield to maturity3.773%Jul 3, 2025Yield to maturity3.874%Jul 15, 2025Yield to maturity3.937%Jul 24, 2025Yield to maturity3.898%Aug 4, 2025Yield to maturity3.673%Aug 13, 2025Yield to maturity3.661%Aug 22, 2025Yield to maturity3.655%Sep 3, 2025Yield to maturity3.601%Sep 12, 2025Yield to maturity3.549%Sep 23, 2025Yield to maturity3.582%Oct 2, 2025Yield to maturity3.552%Oct 14, 2025Yield to maturity3.469%Oct 23, 2025Yield to maturity3.487%Nov 3, 2025Yield to maturity3.594%Nov 13, 2025Yield to maturity3.600%Nov 24, 2025Yield to maturity3.493%Dec 4, 2025Yield to maturity3.533%Dec 15, 2025Yield to maturity3.509%Dec 24, 2025Yield to maturity3.532%Jan 6, 2026Yield to maturity3.476%Jan 15, 2026Yield to maturity3.568%Jan 27, 2026Yield to maturity3.566%Feb 5, 2026Yield to maturity3.457%Feb 17, 2026Yield to maturity3.435%Feb 26, 2026Yield to maturity3.455%Mar 9, 2026Yield to maturity3.583%Mar 18, 2026Yield to maturity3.764%Mar 27, 2026Yield to maturity3.942%Apr 7, 2026Yield to maturity3.849%Apr 16, 2026Yield to maturity3.815%Apr 27, 2026Yield to maturity3.812%May 6, 2026Yield to maturity3.863%May 15, 2026Yield to maturity4.058%May 27, 2026Yield to maturity4.010%Jun 5, 2026Yield to maturity4.124%Jun 16, 2026Yield to maturity4.022%Jun 26, 2026Yield to maturity4.100%Jul 8, 2026Yield to maturity4.193%Jul 17, 2026Yield to maturity4.149%Jul 28, 2026Yield to maturity4.239%Aug 6, 2026Yield to maturity4.205%Aug 17, 2026Yield to maturity4.132%Aug 26, 2026Yield to maturity4.148%Sep 4, 2026Yield to maturity4.297%Sep 16, 2026Yield to maturity4.624%Sep 25, 2026Yield to maturity4.698%Oct 6, 2026Yield to maturity4.611%Oct 16, 2026Yield to maturity4.609%Oct 27, 2026Yield to maturity4.607%Nov 5, 2026Yield to maturity4.387%Nov 10, 2026Yield to maturity4.636%

Price history

1,488 trading days to Nov 10, 2026

80859095100105Nov 30, 2020Nov 10, 2026Nov 30, 2020Close100.063Dec 9, 2020Close99.656Dec 18, 2020Close99.750Dec 30, 2020Close99.906Jan 11, 2021Close98.719Jan 21, 2021Close99.063Feb 1, 2021Close99.281Feb 10, 2021Close99.031Feb 22, 2021Close97.750Mar 3, 2021Close96.875Mar 12, 2021Close95.938Mar 23, 2021Close96.063Apr 1, 2021Close95.594Apr 12, 2021Close95.781Apr 21, 2021Close96.469Apr 30, 2021Close96.094May 11, 2021Close96.406May 20, 2021Close96.406Jun 1, 2021Close96.563Jun 10, 2021Close97.344Jun 21, 2021Close96.625Jun 30, 2021Close96.875Jul 12, 2021Close97.438Jul 21, 2021Close97.938Jul 30, 2021Close98.250Aug 10, 2021Close97.531Aug 19, 2021Close98.000Aug 30, 2021Close97.906Sep 9, 2021Close97.875Sep 20, 2021Close97.688Sep 29, 2021Close96.438Oct 8, 2021Close96.219Oct 20, 2021Close95.750Oct 29, 2021Close95.781Nov 9, 2021Close96.469Nov 19, 2021Close95.781Dec 1, 2021Close96.313Dec 10, 2021Close95.844Dec 21, 2021Close95.938Dec 31, 2021Close95.813Jan 11, 2022Close94.438Jan 21, 2022Close94.344Feb 1, 2022Close93.969Feb 10, 2022Close92.406Feb 22, 2022Close93.031Mar 3, 2022Close93.625Mar 14, 2022Close91.813Mar 23, 2022Close90.656Apr 1, 2022Close89.813Apr 12, 2022Close89.094Apr 22, 2022Close87.969May 3, 2022Close87.656May 12, 2022Close88.594May 23, 2022Close88.375Jun 2, 2022Close88.188Jun 13, 2022Close85.375Jun 23, 2022Close87.281Jul 5, 2022Close88.813Jul 14, 2022Close87.781Jul 25, 2022Close88.656Aug 3, 2022Close88.875Aug 12, 2022Close88.469Aug 23, 2022Close87.594Sep 1, 2022Close86.594Sep 13, 2022Close85.906Sep 22, 2022Close84.563Oct 3, 2022Close84.719Oct 13, 2022Close83.469Oct 24, 2022Close82.969Nov 2, 2022Close83.313Nov 14, 2022Close84.594Nov 23, 2022Close85.031Dec 5, 2022Close85.500Dec 14, 2022Close86.250Dec 23, 2022Close85.438Jan 5, 2023Close85.406Jan 17, 2023Close86.719Jan 26, 2023Close86.781Feb 6, 2023Close86.031Feb 15, 2023Close85.156Feb 27, 2023Close84.688Mar 8, 2023Close84.094Mar 17, 2023Close87.594Mar 28, 2023Close86.813Apr 6, 2023Close88.063Apr 17, 2023Close86.844Apr 26, 2023Close87.813May 5, 2023Close88.094May 16, 2023Close87.750May 25, 2023Close86.125Jun 6, 2023Close86.500Jun 15, 2023Close86.281Jun 27, 2023Close85.969Jul 7, 2023Close84.938Jul 18, 2023Close86.250Jul 27, 2023Close85.375Aug 7, 2023Close85.844Aug 16, 2023Close85.031Aug 25, 2023Close84.969Sep 6, 2023Close85.031Sep 15, 2023Close85.094Sep 26, 2023Close84.656Oct 5, 2023Close84.625Oct 17, 2023Close84.125Oct 26, 2023Close84.438Nov 6, 2023Close85.188Nov 15, 2023Close85.500Nov 27, 2023Close85.938Dec 6, 2023Close86.938Dec 15, 2023Close87.750Dec 27, 2023Close88.250Jan 8, 2024Close87.813Jan 18, 2024Close87.781Jan 29, 2024Close88.000Feb 7, 2024Close87.781Feb 16, 2024Close87.094Feb 28, 2024Close87.188Mar 8, 2024Close87.875Mar 19, 2024Close87.188Mar 28, 2024Close87.531Apr 9, 2024Close87.156Apr 18, 2024Close86.344Apr 29, 2024Close86.469May 8, 2024Close87.031May 17, 2024Close87.313May 29, 2024Close86.844Jun 7, 2024Close87.406Jun 18, 2024Close88.063Jun 28, 2024Close87.906Jul 10, 2024Close88.344Jul 19, 2024Close88.750Jul 30, 2024Close89.156Aug 8, 2024Close89.938Aug 19, 2024Close90.156Aug 28, 2024Close90.594Sep 9, 2024Close91.219Sep 18, 2024Close91.375Sep 27, 2024Close91.438Oct 8, 2024Close90.406Oct 18, 2024Close90.531Oct 29, 2024Close90.000Nov 7, 2024Close89.844Nov 19, 2024Close89.781Nov 29, 2024Close90.250Dec 10, 2024Close90.344Dec 19, 2024Close89.750Dec 31, 2024Close90.000Jan 10, 2025Close89.688Jan 22, 2025Close90.125Jan 31, 2025Close90.375Feb 11, 2025Close90.375Feb 21, 2025Close90.719Mar 4, 2025Close91.406Mar 13, 2025Close91.500Mar 24, 2025Close91.438Apr 2, 2025Close91.781Apr 11, 2025Close91.656Apr 23, 2025Close92.000May 2, 2025Close92.219May 13, 2025Close91.844May 22, 2025Close92.000Jun 3, 2025Close92.188Jun 12, 2025Close92.406Jun 24, 2025Close92.750Jul 3, 2025Close92.625Jul 15, 2025Close92.563Jul 24, 2025Close92.719Aug 4, 2025Close93.281Aug 13, 2025Close93.375Aug 22, 2025Close93.469Sep 3, 2025Close93.656Sep 12, 2025Close93.844Sep 23, 2025Close93.844Oct 2, 2025Close93.969Oct 14, 2025Close94.219Oct 23, 2025Close94.250Nov 3, 2025Close94.125Nov 13, 2025Close94.188Nov 24, 2025Close94.469Dec 4, 2025Close94.469Dec 15, 2025Close94.594Dec 24, 2025Close94.625Jan 6, 2026Close94.813Jan 15, 2026Close94.719Jan 27, 2026Close94.813Feb 5, 2026Close95.063Feb 17, 2026Close95.188Feb 26, 2026Close95.219Mar 9, 2026Close95.094Mar 18, 2026Close94.875Mar 27, 2026Close94.688Apr 7, 2026Close94.906Apr 16, 2026Close95.031Apr 27, 2026Close95.125May 6, 2026Close95.125May 15, 2026Close94.938May 27, 2026Close95.094Jun 5, 2026Close95.031Jun 16, 2026Close95.250Jun 26, 2026Close95.250Jul 8, 2026Close95.219Jul 17, 2026Close95.375Jul 28, 2026Close95.344Aug 6, 2026Close95.469Aug 17, 2026Close95.656Aug 26, 2026Close95.719Sep 4, 2026Close95.656Sep 16, 2026Close95.375Sep 25, 2026Close95.406Oct 6, 2026Close95.594Oct 16, 2026Close95.719Oct 27, 2026Close95.813Nov 5, 2026Close96.125Nov 10, 2026Close95.938
The most recent 20 trading days of prices for 91282CAY7.
DateBidOfferClose
Nov 10, 202695.93895.95395.938
Nov 9, 202696.09496.10996.094
Nov 6, 202696.12596.14196.125
Nov 5, 202696.06396.09496.125
Nov 4, 202696.00096.01696.000
Nov 3, 202696.00096.01695.969
Nov 2, 202695.96996.00096.000
Oct 30, 202695.96995.98496.000
Oct 29, 202695.90695.93895.906
Oct 28, 202695.81395.82895.844
Oct 27, 202695.81395.84495.813
Oct 26, 202695.84495.85995.813
Oct 23, 202695.84495.85995.844
Oct 22, 202695.81395.82895.875
Oct 21, 202695.71995.73495.719
Oct 20, 202695.71995.73495.719
Oct 19, 202695.71995.73495.719
Oct 16, 202695.71995.73495.719
Oct 15, 202695.65695.67295.688
Oct 14, 202695.56395.57895.625

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 91282CAY7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 24, 2020Nov 30, 2020New issue$56.0bn$63.8bn2.37x0.653%

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.