Treasury note

91282CCH2 · 1.25% due June 30, 2028

Original term
7-Year
Maturity
Jun 30, 2028
Coupon
1.250%
Pays
Semi-Annual
Dated
Jun 30, 2021
First coupon
Dec 31, 2021
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$70.83bn
Held stripped
$192.6m
Share stripped
0.27%

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
4.555%
Modified duration
1.743 yr
DV01
0.0165
Convexity
3.910
Dirty price
94.592

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. Concentrated in 4 of twelve buckets, summing to 1.782 years against a modified duration of 1.743.

Against the fitted curve

Priced 0.5 bp cheap to the curve on that day, 0.82 cents per 100 of face.

That is 0.47 standard deviations from its own typical residual.

Yield to maturity, 1,301 observations

0%1%2%3%4%5%Jun 30, 2021Sep 10, 2026Jun 30, 2021Yield to maturity1.213%Aug 12, 2021Yield to maturity1.117%Sep 24, 2021Yield to maturity1.240%Nov 8, 2021Yield to maturity1.354%Dec 22, 2021Yield to maturity1.376%Feb 4, 2022Yield to maturity1.891%Mar 21, 2022Yield to maturity2.387%May 3, 2022Yield to maturity3.067%Jun 15, 2022Yield to maturity3.426%Jul 29, 2022Yield to maturity2.754%Sep 12, 2022Yield to maturity3.508%Oct 25, 2022Yield to maturity4.271%Dec 8, 2022Yield to maturity3.722%Jan 24, 2023Yield to maturity3.580%Mar 8, 2023Yield to maturity4.335%Apr 19, 2023Yield to maturity3.739%Jun 1, 2023Yield to maturity3.752%Jul 17, 2023Yield to maturity4.040%Aug 28, 2023Yield to maturity4.432%Oct 11, 2023Yield to maturity4.640%Nov 22, 2023Yield to maturity4.484%Jan 8, 2024Yield to maturity4.005%Feb 21, 2024Yield to maturity4.352%Apr 3, 2024Yield to maturity4.400%May 15, 2024Yield to maturity4.423%Jun 28, 2024Yield to maturity4.429%Aug 12, 2024Yield to maturity3.801%Sep 24, 2024Yield to maturity3.482%Nov 6, 2024Yield to maturity4.278%Dec 20, 2024Yield to maturity4.353%Feb 5, 2025Yield to maturity4.220%Mar 20, 2025Yield to maturity3.968%May 1, 2025Yield to maturity3.711%Jun 13, 2025Yield to maturity3.937%Jul 29, 2025Yield to maturity3.830%Sep 10, 2025Yield to maturity3.517%Oct 23, 2025Yield to maturity3.500%Dec 8, 2025Yield to maturity3.609%Jan 22, 2026Yield to maturity3.643%Mar 6, 2026Yield to maturity3.564%Apr 17, 2026Yield to maturity3.716%Jun 1, 2026Yield to maturity4.069%Jul 15, 2026Yield to maturity4.138%Aug 26, 2026Yield to maturity4.223%Sep 10, 2026Yield to maturity4.555%

Price history

1,301 trading days to Sep 10, 2026

80859095100105Jun 30, 2021Sep 10, 2026Jun 30, 2021Close100.250Aug 12, 2021Close100.875Sep 24, 2021Close100.063Nov 8, 2021Close99.344Dec 22, 2021Close99.219Feb 4, 2022Close96.156Mar 21, 2022Close93.406May 3, 2022Close89.875Jun 15, 2022Close88.219Jul 29, 2022Close91.844Sep 12, 2022Close88.250Oct 25, 2022Close84.906Dec 8, 2022Close87.688Jan 24, 2023Close88.594Mar 8, 2023Close85.500Apr 19, 2023Close88.344Jun 1, 2023Close88.531Jul 17, 2023Close87.594Aug 28, 2023Close86.281Oct 11, 2023Close85.781Nov 22, 2023Close86.688Jan 8, 2024Close88.813Feb 21, 2024Close87.813Apr 3, 2024Close87.938May 15, 2024Close88.156Jun 28, 2024Close88.469Aug 12, 2024Close90.875Sep 24, 2024Close92.188Nov 6, 2024Close89.875Dec 20, 2024Close89.969Feb 5, 2025Close90.688Mar 20, 2025Close91.719May 1, 2025Close92.719Jun 13, 2025Close92.375Jul 29, 2025Close92.938Sep 10, 2025Close94.000Oct 23, 2025Close94.281Dec 8, 2025Close94.281Jan 22, 2026Close94.469Mar 6, 2026Close94.906Apr 17, 2026Close94.844Jun 1, 2026Close94.438Jul 15, 2026Close94.625Aug 26, 2026Close94.781Sep 10, 2026Close94.344
The most recent 20 trading days of prices for 91282CCH2.
DateBidOfferClose
Sep 10, 202694.42294.40694.344
Sep 9, 202694.57894.56394.563
Sep 8, 202694.62594.62594.594
Sep 4, 202694.64194.62594.625
Sep 3, 202694.67294.65694.656
Sep 2, 202694.57894.56394.563
Sep 1, 202694.59494.59494.563
Aug 31, 202694.64194.62594.625
Aug 28, 202694.64194.62594.594
Aug 27, 202694.81394.81394.781
Aug 26, 202694.79794.78194.781
Aug 25, 202694.82894.81394.813
Aug 24, 202694.76694.75094.750
Aug 21, 202694.73494.71994.750
Aug 20, 202694.79794.78194.813
Aug 19, 202694.79794.78194.813
Aug 18, 202694.81394.81394.781
Aug 17, 202694.81394.81394.781
Aug 14, 202694.82894.81394.781
Aug 13, 202694.82894.81394.813

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 91282CCH2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 24, 2021Jun 30, 2021New issue$62.0bn$71.4bn2.36x1.264%

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.