Treasury note

91282CDJ7 · 1.375% due November 15, 2031

Original term
10-Year
Maturity
Nov 15, 2031
Coupon
1.375%
Pays
Semi-Annual
Dated
Nov 15, 2021
First coupon
May 15, 2022
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$144.57bn
Held stripped
$80.5m
Share stripped
0.06%

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
4.776%
Modified duration
4.855 yr
DV01
0.0413
Convexity
26.601
Dirty price
85.007

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 7 of twelve buckets, summing to 4.972 years against a modified duration of 4.855.

Against the fitted curve

Priced 1.2 bp cheap to the curve on that day, 4.83 cents per 100 of face.

That is 0.09 standard deviations from its own typical residual.

Yield to maturity, 1,207 observations

1%2%3%4%5%Nov 15, 2021Sep 10, 2026Nov 15, 2021Yield to maturity1.627%Dec 27, 2021Yield to maturity1.481%Feb 4, 2022Yield to maturity1.925%Mar 17, 2022Yield to maturity2.205%Apr 27, 2022Yield to maturity2.817%Jun 7, 2022Yield to maturity2.985%Jul 19, 2022Yield to maturity3.012%Aug 26, 2022Yield to maturity3.060%Oct 6, 2022Yield to maturity3.843%Nov 17, 2022Yield to maturity3.775%Dec 29, 2022Yield to maturity3.828%Feb 9, 2023Yield to maturity3.675%Mar 22, 2023Yield to maturity3.488%May 1, 2023Yield to maturity3.561%Jun 9, 2023Yield to maturity3.771%Jul 21, 2023Yield to maturity3.866%Aug 30, 2023Yield to maturity4.148%Oct 11, 2023Yield to maturity4.590%Nov 20, 2023Yield to maturity4.444%Jan 2, 2024Yield to maturity3.958%Feb 12, 2024Yield to maturity4.179%Mar 22, 2024Yield to maturity4.213%May 1, 2024Yield to maturity4.634%Jun 11, 2024Yield to maturity4.403%Jul 23, 2024Yield to maturity4.206%Aug 30, 2024Yield to maturity3.829%Oct 10, 2024Yield to maturity4.014%Nov 21, 2024Yield to maturity4.380%Jan 3, 2025Yield to maturity4.522%Feb 13, 2025Yield to maturity4.466%Mar 26, 2025Yield to maturity4.219%May 5, 2025Yield to maturity4.125%Jun 13, 2025Yield to maturity4.177%Jul 25, 2025Yield to maturity4.107%Sep 4, 2025Yield to maturity3.802%Oct 15, 2025Yield to maturity3.751%Nov 25, 2025Yield to maturity3.686%Jan 7, 2026Yield to maturity3.815%Feb 18, 2026Yield to maturity3.757%Mar 30, 2026Yield to maturity4.072%May 7, 2026Yield to maturity4.115%Jun 17, 2026Yield to maturity4.311%Jul 29, 2026Yield to maturity4.416%Sep 8, 2026Yield to maturity4.607%Sep 10, 2026Yield to maturity4.776%

Price history

1,207 trading days to Sep 10, 2026

7580859095100105Nov 15, 2021Sep 10, 2026Nov 15, 2021Close97.688Dec 27, 2021Close99.031Feb 4, 2022Close95.125Mar 17, 2022Close92.813Apr 27, 2022Close88.000Jun 7, 2022Close86.844Jul 19, 2022Close86.781Aug 26, 2022Close86.563Oct 6, 2022Close81.188Nov 17, 2022Close81.844Dec 29, 2022Close81.688Feb 9, 2023Close82.906Mar 22, 2023Close84.344May 1, 2023Close84.031Jun 9, 2023Close82.844Jul 21, 2023Close82.438Aug 30, 2023Close80.875Oct 11, 2023Close78.469Nov 20, 2023Close79.563Jan 2, 2024Close82.688Feb 12, 2024Close81.594Mar 22, 2024Close81.625May 1, 2024Close79.469Jun 11, 2024Close81.000Jul 23, 2024Close82.344Aug 30, 2024Close84.688Oct 10, 2024Close83.844Nov 21, 2024Close82.094Jan 3, 2025Close81.625Feb 13, 2025Close82.156Mar 26, 2025Close83.688May 5, 2025Close84.406Jun 13, 2025Close84.375Jul 25, 2025Close84.969Sep 4, 2025Close86.719Oct 15, 2025Close87.188Nov 25, 2025Close87.719Jan 7, 2026Close87.313Feb 18, 2026Close87.813Mar 30, 2026Close86.563May 7, 2026Close86.594Jun 17, 2026Close85.969Jul 29, 2026Close85.781Sep 8, 2026Close85.250Sep 10, 2026Close84.563
The most recent 20 trading days of prices for 91282CDJ7.
DateBidOfferClose
Sep 10, 202684.68884.65684.563
Sep 9, 202685.09485.06385.094
Sep 8, 202685.31385.28185.250
Sep 4, 202685.40685.37585.344
Sep 3, 202685.54785.53185.438
Sep 2, 202685.29785.28185.313
Sep 1, 202685.40685.37585.281
Aug 31, 202685.50085.46985.500
Aug 28, 202685.67285.65685.531
Aug 27, 202686.00085.96985.875
Aug 26, 202685.98485.96985.938
Aug 25, 202686.06386.03186.063
Aug 24, 202685.89185.87585.781
Aug 21, 202685.71985.68885.719
Aug 20, 202685.87585.84485.875
Aug 19, 202686.00085.96986.031
Aug 18, 202685.90685.87585.906
Aug 17, 202685.95385.93885.875
Aug 14, 202686.03186.00085.938
Aug 13, 202686.12586.09486.125

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.

3 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 91282CDJ7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 9, 2021Nov 15, 2021New issue$39.0bn$61.6bn2.35x1.444%
Dec 8, 2021Dec 15, 2021Reopening$36.0bn$41.3bn2.43x1.518%
Jan 12, 2022Jan 18, 2022Reopening$36.0bn$41.8bn2.51x1.723%

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.