Treasury note

91282CDK4 · 1.25% due November 30, 2026

Original term
5-Year
Maturity
Nov 30, 2026
Coupon
1.250%
Pays
Semi-Annual
Dated
Nov 30, 2021
First coupon
May 31, 2022
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$61.76bn
Held stripped
$506.4m
Share stripped
0.82%

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, October 20, 2026

Yield to maturity
4.102%
Modified duration
0.109 yr
DV01
0.0011
Convexity
0.000237
Dirty price
100.176

Where its rate sensitivity sits

0.11
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 7.1 bp rich to the curve on that day, 0.78 cents per 100 of face.

That is -1.03 standard deviations from its own typical residual.

Yield to maturity, 1,224 observations

1%2%3%4%5%6%Nov 30, 2021Oct 20, 2026Nov 30, 2021Yield to maturity1.140%Dec 8, 2021Yield to maturity1.263%Dec 16, 2021Yield to maturity1.185%Dec 27, 2021Yield to maturity1.250%Jan 4, 2022Yield to maturity1.356%Jan 12, 2022Yield to maturity1.497%Jan 21, 2022Yield to maturity1.545%Jan 31, 2022Yield to maturity1.615%Feb 8, 2022Yield to maturity1.802%Feb 16, 2022Yield to maturity1.902%Feb 25, 2022Yield to maturity1.878%Mar 7, 2022Yield to maturity1.719%Mar 15, 2022Yield to maturity2.119%Mar 23, 2022Yield to maturity2.362%Mar 31, 2022Yield to maturity2.455%Apr 8, 2022Yield to maturity2.790%Apr 19, 2022Yield to maturity2.919%Apr 27, 2022Yield to maturity2.828%May 5, 2022Yield to maturity3.012%May 13, 2022Yield to maturity2.899%May 23, 2022Yield to maturity2.899%Jun 1, 2022Yield to maturity2.954%Jun 9, 2022Yield to maturity3.088%Jun 17, 2022Yield to maturity3.396%Jun 28, 2022Yield to maturity3.269%Jul 7, 2022Yield to maturity3.063%Jul 15, 2022Yield to maturity3.090%Jul 25, 2022Yield to maturity2.914%Aug 2, 2022Yield to maturity2.914%Aug 10, 2022Yield to maturity2.996%Aug 18, 2022Yield to maturity3.103%Aug 26, 2022Yield to maturity3.313%Sep 6, 2022Yield to maturity3.501%Sep 14, 2022Yield to maturity3.700%Sep 22, 2022Yield to maturity4.034%Sep 30, 2022Yield to maturity4.175%Oct 11, 2022Yield to maturity4.254%Oct 19, 2022Yield to maturity4.468%Oct 27, 2022Yield to maturity4.196%Nov 4, 2022Yield to maturity4.461%Nov 15, 2022Yield to maturity4.052%Nov 23, 2022Yield to maturity4.078%Dec 2, 2022Yield to maturity3.825%Dec 12, 2022Yield to maturity3.957%Dec 20, 2022Yield to maturity3.926%Dec 29, 2022Yield to maturity4.081%Jan 9, 2023Yield to maturity3.806%Jan 18, 2023Yield to maturity3.573%Jan 26, 2023Yield to maturity3.743%Feb 3, 2023Yield to maturity3.826%Feb 13, 2023Yield to maturity4.088%Feb 22, 2023Yield to maturity4.328%Mar 2, 2023Yield to maturity4.522%Mar 10, 2023Yield to maturity4.212%Mar 20, 2023Yield to maturity3.763%Mar 28, 2023Yield to maturity3.826%Apr 5, 2023Yield to maturity3.521%Apr 13, 2023Yield to maturity3.661%Apr 21, 2023Yield to maturity3.827%May 1, 2023Yield to maturity3.783%May 9, 2023Yield to maturity3.649%May 17, 2023Yield to maturity3.744%May 25, 2023Yield to maturity4.134%Jun 5, 2023Yield to maturity4.046%Jun 13, 2023Yield to maturity4.250%Jun 22, 2023Yield to maturity4.292%Jun 30, 2023Yield to maturity4.421%Jul 11, 2023Yield to maturity4.487%Jul 19, 2023Yield to maturity4.261%Jul 27, 2023Yield to maturity4.517%Aug 4, 2023Yield to maturity4.381%Aug 14, 2023Yield to maturity4.599%Aug 22, 2023Yield to maturity4.709%Aug 30, 2023Yield to maturity4.521%Sep 8, 2023Yield to maturity4.641%Sep 18, 2023Yield to maturity4.720%Sep 26, 2023Yield to maturity4.824%Oct 4, 2023Yield to maturity4.848%Oct 13, 2023Yield to maturity4.813%Oct 23, 2023Yield to maturity4.885%Oct 31, 2023Yield to maturity4.887%Nov 8, 2023Yield to maturity4.688%Nov 16, 2023Yield to maturity4.594%Nov 27, 2023Yield to maturity4.603%Dec 5, 2023Yield to maturity4.329%Dec 13, 2023Yield to maturity4.208%Dec 21, 2023Yield to maturity4.074%Jan 2, 2024Yield to maturity4.117%Jan 10, 2024Yield to maturity4.138%Jan 19, 2024Yield to maturity4.205%Jan 29, 2024Yield to maturity4.129%Feb 6, 2024Yield to maturity4.213%Feb 14, 2024Yield to maturity4.413%Feb 23, 2024Yield to maturity4.485%Mar 4, 2024Yield to maturity4.434%Mar 12, 2024Yield to maturity4.420%Mar 20, 2024Yield to maturity4.472%Mar 28, 2024Yield to maturity4.485%Apr 5, 2024Yield to maturity4.611%Apr 15, 2024Yield to maturity4.842%Apr 23, 2024Yield to maturity4.831%May 1, 2024Yield to maturity4.875%May 9, 2024Yield to maturity4.698%May 17, 2024Yield to maturity4.693%May 28, 2024Yield to maturity4.840%Jun 5, 2024Yield to maturity4.601%Jun 13, 2024Yield to maturity4.545%Jun 24, 2024Yield to maturity4.585%Jul 2, 2024Yield to maturity4.644%Jul 11, 2024Yield to maturity4.401%Jul 19, 2024Yield to maturity4.393%Jul 29, 2024Yield to maturity4.318%Aug 6, 2024Yield to maturity3.930%Aug 14, 2024Yield to maturity3.881%Aug 22, 2024Yield to maturity3.921%Aug 30, 2024Yield to maturity3.895%Sep 10, 2024Yield to maturity3.554%Sep 18, 2024Yield to maturity3.577%Sep 26, 2024Yield to maturity3.615%Oct 4, 2024Yield to maturity3.914%Oct 15, 2024Yield to maturity3.945%Oct 23, 2024Yield to maturity4.070%Oct 31, 2024Yield to maturity4.165%Nov 8, 2024Yield to maturity4.258%Nov 19, 2024Yield to maturity4.273%Nov 27, 2024Yield to maturity4.242%Dec 6, 2024Yield to maturity4.128%Dec 16, 2024Yield to maturity4.265%Dec 24, 2024Yield to maturity4.356%Jan 3, 2025Yield to maturity4.279%Jan 13, 2025Yield to maturity4.406%Jan 22, 2025Yield to maturity4.300%Jan 30, 2025Yield to maturity4.207%Feb 7, 2025Yield to maturity4.289%Feb 18, 2025Yield to maturity4.312%Feb 26, 2025Yield to maturity4.100%Mar 6, 2025Yield to maturity4.000%Mar 14, 2025Yield to maturity4.063%Mar 24, 2025Yield to maturity4.060%Apr 1, 2025Yield to maturity3.915%Apr 9, 2025Yield to maturity3.971%Apr 17, 2025Yield to maturity3.863%Apr 25, 2025Yield to maturity3.845%May 5, 2025Yield to maturity3.924%May 13, 2025Yield to maturity4.092%May 21, 2025Yield to maturity4.089%May 30, 2025Yield to maturity4.035%Jun 9, 2025Yield to maturity4.099%Jun 17, 2025Yield to maturity4.049%Jun 26, 2025Yield to maturity3.864%Jul 7, 2025Yield to maturity4.015%Jul 15, 2025Yield to maturity4.059%Jul 23, 2025Yield to maturity4.005%Jul 31, 2025Yield to maturity4.075%Aug 8, 2025Yield to maturity3.880%Aug 18, 2025Yield to maturity3.899%Aug 26, 2025Yield to maturity3.787%Sep 4, 2025Yield to maturity3.758%Sep 12, 2025Yield to maturity3.678%Sep 22, 2025Yield to maturity3.695%Sep 30, 2025Yield to maturity3.713%Oct 8, 2025Yield to maturity3.673%Oct 17, 2025Yield to maturity3.591%Oct 27, 2025Yield to maturity3.608%Nov 4, 2025Yield to maturity3.688%Nov 13, 2025Yield to maturity3.714%Nov 21, 2025Yield to maturity3.651%Dec 2, 2025Yield to maturity3.645%Dec 10, 2025Yield to maturity3.632%Dec 18, 2025Yield to maturity3.549%Dec 29, 2025Yield to maturity3.589%Jan 7, 2026Yield to maturity3.544%Jan 15, 2026Yield to maturity3.602%Jan 26, 2026Yield to maturity3.609%Feb 3, 2026Yield to maturity3.593%Feb 11, 2026Yield to maturity3.617%Feb 20, 2026Yield to maturity3.625%Mar 2, 2026Yield to maturity3.652%Mar 10, 2026Yield to maturity3.636%Mar 18, 2026Yield to maturity3.711%Mar 26, 2026Yield to maturity3.838%Apr 3, 2026Yield to maturity3.798%Apr 13, 2026Yield to maturity3.785%Apr 21, 2026Yield to maturity3.717%Apr 29, 2026Yield to maturity3.755%May 7, 2026Yield to maturity3.739%May 15, 2026Yield to maturity3.747%May 26, 2026Yield to maturity3.742%Jun 3, 2026Yield to maturity3.788%Jun 11, 2026Yield to maturity3.836%Jun 22, 2026Yield to maturity3.937%Jun 30, 2026Yield to maturity4.000%Jul 9, 2026Yield to maturity3.925%Jul 17, 2026Yield to maturity3.859%Jul 27, 2026Yield to maturity4.025%Aug 4, 2026Yield to maturity3.914%Aug 12, 2026Yield to maturity3.894%Aug 20, 2026Yield to maturity3.872%Aug 28, 2026Yield to maturity3.903%Sep 8, 2026Yield to maturity3.910%Sep 16, 2026Yield to maturity4.040%Sep 24, 2026Yield to maturity4.376%Oct 2, 2026Yield to maturity4.110%Oct 13, 2026Yield to maturity4.166%Oct 20, 2026Yield to maturity4.102%

Price history

1,224 trading days to Oct 20, 2026

87.590.092.595.097.5100.0102.5Nov 30, 2021Oct 20, 2026Nov 30, 2021Close100.531Dec 8, 2021Close99.938Dec 16, 2021Close100.313Dec 27, 2021Close100.000Jan 4, 2022Close99.500Jan 12, 2022Close98.844Jan 21, 2022Close98.625Jan 31, 2022Close98.313Feb 8, 2022Close97.469Feb 16, 2022Close97.031Feb 25, 2022Close97.156Mar 7, 2022Close97.875Mar 15, 2022Close96.125Mar 23, 2022Close95.094Mar 31, 2022Close94.719Apr 8, 2022Close93.344Apr 19, 2022Close92.844Apr 27, 2022Close93.250May 5, 2022Close92.531May 13, 2022Close93.031May 23, 2022Close93.063Jun 1, 2022Close92.875Jun 9, 2022Close92.375Jun 17, 2022Close91.219Jun 28, 2022Close91.750Jul 7, 2022Close92.594Jul 15, 2022Close92.531Jul 25, 2022Close93.250Aug 2, 2022Close93.281Aug 10, 2022Close93.000Aug 18, 2022Close92.625Aug 26, 2022Close91.875Sep 6, 2022Close91.219Sep 14, 2022Close90.531Sep 22, 2022Close89.375Sep 30, 2022Close88.938Oct 11, 2022Close88.719Oct 19, 2022Close88.031Oct 27, 2022Close89.031Nov 4, 2022Close88.188Nov 15, 2022Close89.656Nov 23, 2022Close89.625Dec 2, 2022Close90.563Dec 12, 2022Close90.156Dec 20, 2022Close90.313Dec 29, 2022Close89.844Jan 9, 2023Close90.844Jan 18, 2023Close91.688Jan 26, 2023Close91.156Feb 3, 2023Close90.938Feb 13, 2023Close90.125Feb 22, 2023Close89.406Mar 2, 2023Close88.844Mar 10, 2023Close89.906Mar 20, 2023Close91.406Mar 28, 2023Close91.250Apr 5, 2023Close92.281Apr 13, 2023Close91.875Apr 21, 2023Close91.406May 1, 2023Close91.594May 9, 2023Close92.063May 17, 2023Close91.813May 25, 2023Close90.656Jun 5, 2023Close91.000Jun 13, 2023Close90.438Jun 22, 2023Close90.375Jun 30, 2023Close90.063Jul 11, 2023Close89.938Jul 19, 2023Close90.656Jul 27, 2023Close89.969Aug 4, 2023Close90.438Aug 14, 2023Close89.875Aug 22, 2023Close89.625Aug 30, 2023Close90.219Sep 8, 2023Close89.969Sep 18, 2023Close89.813Sep 26, 2023Close89.594Oct 4, 2023Close89.594Oct 13, 2023Close89.781Oct 23, 2023Close89.656Oct 31, 2023Close89.719Nov 8, 2023Close90.313Nov 16, 2023Close90.625Nov 27, 2023Close90.688Dec 5, 2023Close91.469Dec 13, 2023Close91.844Dec 21, 2023Close92.250Jan 2, 2024Close92.219Jan 10, 2024Close92.219Jan 19, 2024Close92.125Jan 29, 2024Close92.375Feb 6, 2024Close92.219Feb 14, 2024Close91.781Feb 23, 2024Close91.688Mar 4, 2024Close91.875Mar 12, 2024Close91.969Mar 20, 2024Close91.906Mar 28, 2024Close91.938Apr 5, 2024Close91.719Apr 15, 2024Close91.250Apr 23, 2024Close91.344May 1, 2024Close91.313May 9, 2024Close91.781May 17, 2024Close91.875May 28, 2024Close91.625Jun 5, 2024Close92.219Jun 13, 2024Close92.406Jun 24, 2024Close92.406Jul 2, 2024Close92.344Jul 11, 2024Close92.938Jul 19, 2024Close93.031Jul 29, 2024Close93.250Aug 6, 2024Close94.125Aug 14, 2024Close94.281Aug 22, 2024Close94.250Aug 30, 2024Close94.375Sep 10, 2024Close95.125Sep 18, 2024Close95.125Sep 26, 2024Close95.094Oct 4, 2024Close94.563Oct 15, 2024Close94.563Oct 23, 2024Close94.375Oct 31, 2024Close94.250Nov 8, 2024Close94.156Nov 19, 2024Close94.188Nov 27, 2024Close94.313Dec 6, 2024Close94.594Dec 16, 2024Close94.406Dec 24, 2024Close94.313Jan 3, 2025Close94.531Jan 13, 2025Close94.375Jan 22, 2025Close94.625Jan 30, 2025Close94.844Feb 7, 2025Close94.781Feb 18, 2025Close94.813Feb 26, 2025Close95.219Mar 6, 2025Close95.438Mar 14, 2025Close95.406Mar 24, 2025Close95.469Apr 1, 2025Close95.750Apr 9, 2025Close95.719Apr 17, 2025Close95.938Apr 25, 2025Close96.031May 5, 2025Close95.969May 13, 2025Close95.781May 21, 2025Close95.844May 30, 2025Close96.000Jun 9, 2025Close95.969Jun 17, 2025Close96.094Jun 26, 2025Close96.406Jul 7, 2025Close96.281Jul 15, 2025Close96.281Jul 23, 2025Close96.406Jul 31, 2025Close96.375Aug 8, 2025Close96.688Aug 18, 2025Close96.719Aug 26, 2025Close96.906Sep 4, 2025Close97.000Sep 12, 2025Close97.156Sep 22, 2025Close97.188Sep 30, 2025Close97.219Oct 8, 2025Close97.313Oct 17, 2025Close97.469Oct 27, 2025Close97.500Nov 4, 2025Close97.469Nov 13, 2025Close97.500Nov 21, 2025Close97.625Dec 2, 2025Close97.688Dec 10, 2025Close97.750Dec 18, 2025Close97.875Dec 29, 2025Close97.906Jan 7, 2026Close98.000Jan 15, 2026Close98.000Jan 26, 2026Close98.063Feb 3, 2026Close98.125Feb 11, 2026Close98.156Feb 20, 2026Close98.219Mar 2, 2026Close98.250Mar 10, 2026Close98.313Mar 18, 2026Close98.313Mar 26, 2026Close98.281Apr 3, 2026Close98.375Apr 13, 2026Close98.438Apr 21, 2026Close98.531Apr 29, 2026Close98.563May 7, 2026Close98.625May 15, 2026Close98.688May 26, 2026Close98.750Jun 3, 2026Close98.781Jun 11, 2026Close98.813Jun 22, 2026Close98.844Jun 30, 2026Close98.875Jul 9, 2026Close98.969Jul 17, 2026Close99.063Jul 27, 2026Close99.063Aug 4, 2026Close99.156Aug 12, 2026Close99.219Aug 20, 2026Close99.281Aug 28, 2026Close99.344Sep 8, 2026Close99.406Sep 16, 2026Close99.438Sep 24, 2026Close99.438Oct 2, 2026Close99.563Oct 13, 2026Close99.625Oct 20, 2026Close99.688
The most recent 20 trading days of prices for 91282CDK4.
DateBidOfferClose
Oct 20, 2026–99.68899.688
Oct 19, 2026–99.65699.688
Oct 16, 2026–99.68899.656
Oct 15, 2026–99.62599.656
Oct 14, 2026–99.62599.625
Oct 13, 2026–99.62599.625
Oct 9, 2026–99.62599.625
Oct 8, 2026–99.59499.594
Oct 7, 2026–99.59499.594
Oct 6, 2026–99.56399.594
Oct 5, 2026–99.56399.563
Oct 2, 2026–99.56399.563
Oct 1, 2026–99.53199.531
Sep 30, 2026–99.53199.531
Sep 29, 2026–99.50099.500
Sep 28, 2026–99.50099.500
Sep 25, 2026–99.50099.500
Sep 24, 2026–99.46999.438
Sep 23, 2026–99.46999.438
Sep 22, 2026–99.46999.469

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 91282CDK4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 22, 2021Nov 30, 2021New issue$59.0bn$63.9bn2.34x1.319%

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.