Treasury note

91282CDL2 · 1.5% due November 30, 2028

Original term
7-Year
Maturity
Nov 30, 2028
Coupon
1.500%
Pays
Semi-Annual
Dated
Nov 30, 2021
First coupon
May 31, 2022
Priced through
Sep 30, 2026
Analyzed through
Sep 30, 2026

Statement of August 31, 2026

Amount outstanding
$62.73bn
Held stripped
$111.6m
Share stripped
0.18%

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 30, 2026

Yield to maturity
4.918%
Modified duration
2.074 yr
DV01
0.0194
Convexity
0.0537
Dirty price
93.567

Where its rate sensitivity sits

<.01
<.01
0.01
1.76
0.35
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 5 of twelve buckets, summing to 2.126 years against a modified duration of 2.074.

Against the fitted curve

Priced 1.0 bp rich to the curve on that day, 1.97 cents per 100 of face.

That is -0.61 standard deviations from its own typical residual.

Yield to maturity, 1,211 observations

1%2%3%4%5%6%Nov 30, 2021Sep 30, 2026Nov 30, 2021Yield to maturity1.359%Dec 8, 2021Yield to maturity1.443%Dec 16, 2021Yield to maturity1.354%Dec 27, 2021Yield to maturity1.410%Jan 4, 2022Yield to maturity1.567%Jan 12, 2022Yield to maturity1.669%Jan 21, 2022Yield to maturity1.699%Jan 31, 2022Yield to maturity1.758%Feb 8, 2022Yield to maturity1.933%Feb 16, 2022Yield to maturity2.015%Feb 25, 2022Yield to maturity1.967%Mar 7, 2022Yield to maturity1.782%Mar 15, 2022Yield to maturity2.179%Mar 23, 2022Yield to maturity2.395%Mar 31, 2022Yield to maturity2.429%Apr 8, 2022Yield to maturity2.819%Apr 19, 2022Yield to maturity2.972%Apr 27, 2022Yield to maturity2.861%May 5, 2022Yield to maturity3.099%May 13, 2022Yield to maturity2.971%May 23, 2022Yield to maturity2.931%Jun 1, 2022Yield to maturity3.004%Jun 9, 2022Yield to maturity3.116%Jun 17, 2022Yield to maturity3.376%Jun 28, 2022Yield to maturity3.301%Jul 7, 2022Yield to maturity3.106%Jul 15, 2022Yield to maturity3.072%Jul 25, 2022Yield to maturity2.922%Aug 2, 2022Yield to maturity2.864%Aug 10, 2022Yield to maturity2.920%Aug 18, 2022Yield to maturity3.035%Aug 26, 2022Yield to maturity3.234%Sep 6, 2022Yield to maturity3.479%Sep 14, 2022Yield to maturity3.601%Sep 22, 2022Yield to maturity3.928%Sep 30, 2022Yield to maturity4.076%Oct 11, 2022Yield to maturity4.168%Oct 19, 2022Yield to maturity4.357%Oct 27, 2022Yield to maturity4.116%Nov 4, 2022Yield to maturity4.353%Nov 15, 2022Yield to maturity3.953%Nov 23, 2022Yield to maturity3.899%Dec 2, 2022Yield to maturity3.681%Dec 12, 2022Yield to maturity3.797%Dec 20, 2022Yield to maturity3.818%Dec 29, 2022Yield to maturity3.975%Jan 9, 2023Yield to maturity3.665%Jan 18, 2023Yield to maturity3.446%Jan 26, 2023Yield to maturity3.599%Feb 3, 2023Yield to maturity3.666%Feb 13, 2023Yield to maturity3.908%Feb 22, 2023Yield to maturity4.137%Mar 2, 2023Yield to maturity4.314%Mar 10, 2023Yield to maturity3.945%Mar 20, 2023Yield to maturity3.637%Mar 28, 2023Yield to maturity3.685%Apr 5, 2023Yield to maturity3.398%Apr 13, 2023Yield to maturity3.536%Apr 21, 2023Yield to maturity3.685%May 1, 2023Yield to maturity3.680%May 9, 2023Yield to maturity3.555%May 17, 2023Yield to maturity3.623%May 25, 2023Yield to maturity3.956%Jun 5, 2023Yield to maturity3.853%Jun 13, 2023Yield to maturity4.034%Jun 22, 2023Yield to maturity4.038%Jun 30, 2023Yield to maturity4.114%Jul 11, 2023Yield to maturity4.231%Jul 19, 2023Yield to maturity3.973%Jul 27, 2023Yield to maturity4.253%Aug 4, 2023Yield to maturity4.173%Aug 14, 2023Yield to maturity4.378%Aug 22, 2023Yield to maturity4.499%Aug 30, 2023Yield to maturity4.307%Sep 8, 2023Yield to maturity4.432%Sep 18, 2023Yield to maturity4.496%Sep 26, 2023Yield to maturity4.665%Oct 4, 2023Yield to maturity4.761%Oct 13, 2023Yield to maturity4.689%Oct 23, 2023Yield to maturity4.862%Oct 31, 2023Yield to maturity4.876%Nov 8, 2023Yield to maturity4.561%Nov 16, 2023Yield to maturity4.475%Nov 27, 2023Yield to maturity4.447%Dec 5, 2023Yield to maturity4.193%Dec 13, 2023Yield to maturity4.054%Dec 21, 2023Yield to maturity3.922%Jan 2, 2024Yield to maturity3.968%Jan 10, 2024Yield to maturity4.016%Jan 19, 2024Yield to maturity4.092%Jan 29, 2024Yield to maturity4.004%Feb 6, 2024Yield to maturity4.069%Feb 14, 2024Yield to maturity4.283%Feb 23, 2024Yield to maturity4.323%Mar 4, 2024Yield to maturity4.249%Mar 12, 2024Yield to maturity4.190%Mar 20, 2024Yield to maturity4.290%Mar 28, 2024Yield to maturity4.255%Apr 5, 2024Yield to maturity4.415%Apr 15, 2024Yield to maturity4.682%Apr 23, 2024Yield to maturity4.664%May 1, 2024Yield to maturity4.679%May 9, 2024Yield to maturity4.503%May 17, 2024Yield to maturity4.479%May 28, 2024Yield to maturity4.621%Jun 5, 2024Yield to maturity4.359%Jun 13, 2024Yield to maturity4.289%Jun 24, 2024Yield to maturity4.324%Jul 2, 2024Yield to maturity4.439%Jul 11, 2024Yield to maturity4.168%Jul 19, 2024Yield to maturity4.201%Jul 29, 2024Yield to maturity4.096%Aug 6, 2024Yield to maturity3.763%Aug 14, 2024Yield to maturity3.708%Aug 22, 2024Yield to maturity3.769%Aug 30, 2024Yield to maturity3.759%Sep 10, 2024Yield to maturity3.458%Sep 18, 2024Yield to maturity3.501%Sep 26, 2024Yield to maturity3.580%Oct 4, 2024Yield to maturity3.843%Oct 15, 2024Yield to maturity3.883%Oct 23, 2024Yield to maturity4.072%Oct 31, 2024Yield to maturity4.174%Nov 8, 2024Yield to maturity4.239%Nov 19, 2024Yield to maturity4.272%Nov 27, 2024Yield to maturity4.170%Dec 6, 2024Yield to maturity4.069%Dec 16, 2024Yield to maturity4.267%Dec 24, 2024Yield to maturity4.461%Jan 3, 2025Yield to maturity4.398%Jan 13, 2025Yield to maturity4.585%Jan 22, 2025Yield to maturity4.404%Jan 30, 2025Yield to maturity4.297%Feb 7, 2025Yield to maturity4.345%Feb 18, 2025Yield to maturity4.383%Feb 26, 2025Yield to maturity4.072%Mar 6, 2025Yield to maturity4.039%Mar 14, 2025Yield to maturity4.057%Mar 24, 2025Yield to maturity4.062%Apr 1, 2025Yield to maturity3.883%Apr 9, 2025Yield to maturity4.004%Apr 17, 2025Yield to maturity3.862%Apr 25, 2025Yield to maturity3.811%May 5, 2025Yield to maturity3.864%May 13, 2025Yield to maturity4.059%May 21, 2025Yield to maturity4.055%May 30, 2025Yield to maturity3.914%Jun 9, 2025Yield to maturity4.031%Jun 17, 2025Yield to maturity3.933%Jun 26, 2025Yield to maturity3.724%Jul 7, 2025Yield to maturity3.899%Jul 15, 2025Yield to maturity3.966%Jul 23, 2025Yield to maturity3.856%Jul 31, 2025Yield to maturity3.903%Aug 8, 2025Yield to maturity3.752%Aug 18, 2025Yield to maturity3.756%Aug 26, 2025Yield to maturity3.653%Sep 4, 2025Yield to maturity3.573%Sep 12, 2025Yield to maturity3.558%Sep 22, 2025Yield to maturity3.615%Sep 30, 2025Yield to maturity3.640%Oct 8, 2025Yield to maturity3.622%Oct 17, 2025Yield to maturity3.487%Oct 27, 2025Yield to maturity3.523%Nov 4, 2025Yield to maturity3.605%Nov 13, 2025Yield to maturity3.610%Nov 21, 2025Yield to maturity3.515%Dec 2, 2025Yield to maturity3.543%Dec 10, 2025Yield to maturity3.592%Dec 18, 2025Yield to maturity3.514%Dec 29, 2025Yield to maturity3.523%Jan 7, 2026Yield to maturity3.528%Jan 15, 2026Yield to maturity3.615%Jan 26, 2026Yield to maturity3.649%Feb 3, 2026Yield to maturity3.641%Feb 11, 2026Yield to maturity3.559%Feb 20, 2026Yield to maturity3.507%Mar 2, 2026Yield to maturity3.486%Mar 10, 2026Yield to maturity3.602%Mar 18, 2026Yield to maturity3.758%Mar 26, 2026Yield to maturity4.008%Apr 3, 2026Yield to maturity3.878%Apr 13, 2026Yield to maturity3.806%Apr 21, 2026Yield to maturity3.799%Apr 29, 2026Yield to maturity3.951%May 7, 2026Yield to maturity3.945%May 15, 2026Yield to maturity4.135%May 26, 2026Yield to maturity4.092%Jun 3, 2026Yield to maturity4.128%Jun 11, 2026Yield to maturity4.095%Jun 22, 2026Yield to maturity4.268%Jun 30, 2026Yield to maturity4.164%Jul 9, 2026Yield to maturity4.191%Jul 17, 2026Yield to maturity4.207%Jul 27, 2026Yield to maturity4.364%Aug 4, 2026Yield to maturity4.242%Aug 12, 2026Yield to maturity4.238%Aug 20, 2026Yield to maturity4.219%Aug 28, 2026Yield to maturity4.389%Sep 8, 2026Yield to maturity4.436%Sep 16, 2026Yield to maturity4.780%Sep 24, 2026Yield to maturity4.940%Sep 30, 2026Yield to maturity4.918%

Price history

1,211 trading days to Sep 30, 2026

80859095100105Nov 30, 2021Sep 30, 2026Nov 30, 2021Close100.938Dec 8, 2021Close100.375Dec 16, 2021Close100.969Dec 27, 2021Close100.594Jan 4, 2022Close99.563Jan 12, 2022Close98.906Jan 21, 2022Close98.719Jan 31, 2022Close98.344Feb 8, 2022Close97.250Feb 16, 2022Close96.750Feb 25, 2022Close97.063Mar 7, 2022Close98.219Mar 15, 2022Close95.781Mar 23, 2022Close94.500Mar 31, 2022Close94.313Apr 8, 2022Close92.063Apr 19, 2022Close91.219Apr 27, 2022Close91.875May 5, 2022Close90.563May 13, 2022Close91.313May 23, 2022Close91.563Jun 1, 2022Close91.188Jun 9, 2022Close90.594Jun 17, 2022Close89.219Jun 28, 2022Close89.656Jul 7, 2022Close90.750Jul 15, 2022Close90.969Jul 25, 2022Close91.813Aug 2, 2022Close92.156Aug 10, 2022Close91.875Aug 18, 2022Close91.281Aug 26, 2022Close90.250Sep 6, 2022Close89.000Sep 14, 2022Close88.406Sep 22, 2022Close86.781Sep 30, 2022Close86.094Oct 11, 2022Close85.688Oct 19, 2022Close84.813Oct 27, 2022Close86.031Nov 4, 2022Close84.938Nov 15, 2022Close86.938Nov 23, 2022Close87.250Dec 2, 2022Close88.375Dec 12, 2022Close87.844Dec 20, 2022Close87.781Dec 29, 2022Close87.063Jan 9, 2023Close88.625Jan 18, 2023Close89.750Jan 26, 2023Close89.031Feb 3, 2023Close88.750Feb 13, 2023Close87.625Feb 22, 2023Close86.594Mar 2, 2023Close85.813Mar 10, 2023Close87.594Mar 20, 2023Close89.094Mar 28, 2023Close88.906Apr 5, 2023Close90.313Apr 13, 2023Close89.688Apr 21, 2023Close89.031May 1, 2023Close89.094May 9, 2023Close89.719May 17, 2023Close89.438May 25, 2023Close87.938Jun 5, 2023Close88.469Jun 13, 2023Close87.688Jun 22, 2023Close87.719Jun 30, 2023Close87.438Jul 11, 2023Close86.969Jul 19, 2023Close88.156Jul 27, 2023Close86.969Aug 4, 2023Close87.375Aug 14, 2023Close86.531Aug 22, 2023Close86.063Aug 30, 2023Close86.938Sep 8, 2023Close86.469Sep 18, 2023Close86.250Sep 26, 2023Close85.594Oct 4, 2023Close85.250Oct 13, 2023Close85.625Oct 23, 2023Close84.969Oct 31, 2023Close84.969Nov 8, 2023Close86.313Nov 16, 2023Close86.719Nov 27, 2023Close86.906Dec 5, 2023Close88.000Dec 13, 2023Close88.625Dec 21, 2023Close89.219Jan 2, 2024Close89.094Jan 10, 2024Close88.938Jan 19, 2024Close88.688Jan 29, 2024Close89.094Feb 6, 2024Close88.875Feb 14, 2024Close88.063Feb 23, 2024Close87.969Mar 4, 2024Close88.313Mar 12, 2024Close88.594Mar 20, 2024Close88.250Mar 28, 2024Close88.438Apr 5, 2024Close87.875Apr 15, 2024Close86.906Apr 23, 2024Close87.031May 1, 2024Close87.031May 9, 2024Close87.750May 17, 2024Close87.906May 28, 2024Close87.438Jun 5, 2024Close88.469Jun 13, 2024Close88.781Jun 24, 2024Close88.719Jul 2, 2024Close88.344Jul 11, 2024Close89.406Jul 19, 2024Close89.344Jul 29, 2024Close89.781Aug 6, 2024Close91.063Aug 14, 2024Close91.313Aug 22, 2024Close91.125Aug 30, 2024Close91.219Sep 10, 2024Close92.375Sep 18, 2024Close92.250Sep 26, 2024Close92.000Oct 4, 2024Close91.094Oct 15, 2024Close91.000Oct 23, 2024Close90.375Oct 31, 2024Close90.063Nov 8, 2024Close89.906Nov 19, 2024Close89.844Nov 27, 2024Close90.250Dec 6, 2024Close90.656Dec 16, 2024Close90.031Dec 24, 2024Close89.438Jan 3, 2025Close89.719Jan 13, 2025Close89.156Jan 22, 2025Close89.813Jan 30, 2025Close90.219Feb 7, 2025Close90.125Feb 18, 2025Close90.063Feb 26, 2025Close91.125Mar 6, 2025Close91.281Mar 14, 2025Close91.281Mar 24, 2025Close91.313Apr 1, 2025Close91.938Apr 9, 2025Close91.594Apr 17, 2025Close92.094Apr 25, 2025Close92.313May 5, 2025Close92.188May 13, 2025Close91.625May 21, 2025Close91.688May 30, 2025Close92.188Jun 9, 2025Close91.875Jun 17, 2025Close92.219Jun 26, 2025Close92.906Jul 7, 2025Close92.438Jul 15, 2025Close92.281Jul 23, 2025Close92.656Jul 31, 2025Close92.563Aug 8, 2025Close93.063Aug 18, 2025Close93.094Aug 26, 2025Close93.438Sep 4, 2025Close93.719Sep 12, 2025Close93.813Sep 22, 2025Close93.688Sep 30, 2025Close93.656Oct 8, 2025Close93.750Oct 17, 2025Close94.188Oct 27, 2025Close94.125Nov 4, 2025Close93.938Nov 13, 2025Close93.969Nov 21, 2025Close94.281Dec 2, 2025Close94.250Dec 10, 2025Close94.156Dec 18, 2025Close94.406Dec 29, 2025Close94.438Jan 7, 2026Close94.469Jan 15, 2026Close94.281Jan 26, 2026Close94.250Feb 3, 2026Close94.313Feb 11, 2026Close94.563Feb 20, 2026Close94.750Mar 2, 2026Close94.844Mar 10, 2026Close94.594Mar 18, 2026Close94.250Mar 26, 2026Close93.688Apr 3, 2026Close94.063Apr 13, 2026Close94.281Apr 21, 2026Close94.344Apr 29, 2026Close94.031May 7, 2026Close94.094May 15, 2026Close93.719May 26, 2026Close93.875Jun 3, 2026Close93.844Jun 11, 2026Close93.969Jun 22, 2026Close93.656Jun 30, 2026Close93.938Jul 9, 2026Close93.938Jul 17, 2026Close93.969Jul 27, 2026Close93.688Aug 4, 2026Close94.000Aug 12, 2026Close94.063Aug 20, 2026Close94.156Aug 28, 2026Close93.875Sep 8, 2026Close93.844Sep 16, 2026Close93.219Sep 24, 2026Close92.969Sep 30, 2026Close93.063
The most recent 20 trading days of prices for 91282CDL2.
DateBidOfferClose
Sep 30, 202693.10993.09493.063
Sep 29, 202692.96992.93893.031
Sep 28, 202692.96992.93892.969
Sep 25, 202693.06393.03193.125
Sep 24, 202693.01693.00092.969
Sep 23, 202693.07893.06393.000
Sep 22, 202693.26693.25093.250
Sep 21, 202693.26693.25093.250
Sep 18, 202693.26693.25093.219
Sep 17, 202693.35993.34493.344
Sep 16, 202693.45393.43893.219
Sep 15, 202693.39193.37593.344
Sep 14, 202693.42293.40693.406
Sep 11, 202693.48493.46993.438
Sep 10, 202693.60993.59493.531
Sep 9, 202693.79793.78193.781
Sep 8, 202693.89193.87593.844
Sep 4, 202693.92293.90693.875
Sep 3, 202693.98493.96993.938
Sep 2, 202693.85993.84493.844

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 91282CDL2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 23, 2021Nov 30, 2021New issue$59.0bn$63.9bn2.42x1.588%

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.