Treasury note

91282CDQ1 · 1.25% due December 31, 2026

Original term
5-Year
Maturity
Dec 31, 2026
Coupon
1.250%
Pays
Semi-Annual
Dated
Dec 31, 2021
First coupon
Jun 30, 2022
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$63.50bn
Held stripped
$2.2m
Share stripped
<0.01%

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 9, 2026

Yield to maturity
4.179%
Modified duration
0.138 yr
DV01
0.0014
Convexity
0.00038
Dirty price
100.046

Where its rate sensitivity sits

0.14
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 0.4 bp rich to the curve on that day, 0.05 cents per 100 of face.

That is 0.79 standard deviations from its own typical residual.

Yield to maturity, 1,214 observations

1%2%3%4%5%6%Dec 31, 2021Nov 9, 2026Dec 31, 2021Yield to maturity1.263%Jan 10, 2022Yield to maturity1.532%Jan 19, 2022Yield to maturity1.620%Jan 27, 2022Yield to maturity1.661%Feb 4, 2022Yield to maturity1.772%Feb 14, 2022Yield to maturity1.918%Feb 23, 2022Yield to maturity1.901%Mar 3, 2022Yield to maturity1.759%Mar 11, 2022Yield to maturity1.970%Mar 21, 2022Yield to maturity2.363%Mar 29, 2022Yield to maturity2.534%Apr 6, 2022Yield to maturity2.738%Apr 14, 2022Yield to maturity2.804%Apr 25, 2022Yield to maturity2.866%May 3, 2022Yield to maturity3.032%May 11, 2022Yield to maturity2.904%May 19, 2022Yield to maturity2.858%May 27, 2022Yield to maturity2.747%Jun 7, 2022Yield to maturity3.023%Jun 15, 2022Yield to maturity3.415%Jun 24, 2022Yield to maturity3.200%Jul 5, 2022Yield to maturity2.842%Jul 13, 2022Yield to maturity3.061%Jul 21, 2022Yield to maturity3.038%Jul 29, 2022Yield to maturity2.748%Aug 8, 2022Yield to maturity2.985%Aug 16, 2022Yield to maturity3.026%Aug 24, 2022Yield to maturity3.310%Sep 1, 2022Yield to maturity3.477%Sep 12, 2022Yield to maturity3.542%Sep 20, 2022Yield to maturity3.849%Sep 28, 2022Yield to maturity4.017%Oct 6, 2022Yield to maturity4.152%Oct 17, 2022Yield to maturity4.366%Oct 25, 2022Yield to maturity4.346%Nov 2, 2022Yield to maturity4.416%Nov 10, 2022Yield to maturity4.054%Nov 21, 2022Yield to maturity4.140%Nov 30, 2022Yield to maturity3.970%Dec 8, 2022Yield to maturity3.859%Dec 16, 2022Yield to maturity3.751%Dec 27, 2022Yield to maturity4.064%Jan 5, 2023Yield to maturity4.036%Jan 13, 2023Yield to maturity3.737%Jan 24, 2023Yield to maturity3.705%Feb 1, 2023Yield to maturity3.610%Feb 9, 2023Yield to maturity4.019%Feb 17, 2023Yield to maturity4.191%Feb 28, 2023Yield to maturity4.360%Mar 8, 2023Yield to maturity4.581%Mar 16, 2023Yield to maturity3.918%Mar 24, 2023Yield to maturity3.558%Apr 3, 2023Yield to maturity3.676%Apr 11, 2023Yield to maturity3.699%Apr 19, 2023Yield to maturity3.878%Apr 27, 2023Yield to maturity3.748%May 5, 2023Yield to maturity3.543%May 15, 2023Yield to maturity3.596%May 23, 2023Yield to maturity3.915%Jun 1, 2023Yield to maturity3.884%Jun 9, 2023Yield to maturity4.116%Jun 20, 2023Yield to maturity4.186%Jun 28, 2023Yield to maturity4.205%Jul 7, 2023Yield to maturity4.553%Jul 17, 2023Yield to maturity4.238%Jul 25, 2023Yield to maturity4.425%Aug 2, 2023Yield to maturity4.445%Aug 10, 2023Yield to maturity4.401%Aug 18, 2023Yield to maturity4.555%Aug 28, 2023Yield to maturity4.609%Sep 6, 2023Yield to maturity4.644%Sep 14, 2023Yield to maturity4.622%Sep 22, 2023Yield to maturity4.761%Oct 2, 2023Yield to maturity4.852%Oct 11, 2023Yield to maturity4.721%Oct 19, 2023Yield to maturity4.983%Oct 27, 2023Yield to maturity4.808%Nov 6, 2023Yield to maturity4.683%Nov 14, 2023Yield to maturity4.522%Nov 22, 2023Yield to maturity4.571%Dec 1, 2023Yield to maturity4.263%Dec 11, 2023Yield to maturity4.401%Dec 19, 2023Yield to maturity4.119%Dec 28, 2023Yield to maturity4.013%Jan 8, 2024Yield to maturity4.100%Jan 17, 2024Yield to maturity4.111%Jan 25, 2024Yield to maturity4.108%Feb 2, 2024Yield to maturity4.147%Feb 12, 2024Yield to maturity4.267%Feb 21, 2024Yield to maturity4.441%Feb 29, 2024Yield to maturity4.441%Mar 8, 2024Yield to maturity4.270%Mar 18, 2024Yield to maturity4.560%Mar 26, 2024Yield to maturity4.433%Apr 4, 2024Yield to maturity4.487%Apr 12, 2024Yield to maturity4.755%Apr 22, 2024Yield to maturity4.837%Apr 30, 2024Yield to maturity4.919%May 8, 2024Yield to maturity4.707%May 16, 2024Yield to maturity4.642%May 24, 2024Yield to maturity4.790%Jun 4, 2024Yield to maturity4.614%Jun 12, 2024Yield to maturity4.588%Jun 21, 2024Yield to maturity4.544%Jul 1, 2024Yield to maturity4.657%Jul 10, 2024Yield to maturity4.477%Jul 18, 2024Yield to maturity4.321%Jul 26, 2024Yield to maturity4.269%Aug 5, 2024Yield to maturity3.793%Aug 13, 2024Yield to maturity3.830%Aug 21, 2024Yield to maturity3.810%Aug 29, 2024Yield to maturity3.819%Sep 9, 2024Yield to maturity3.601%Sep 17, 2024Yield to maturity3.534%Sep 25, 2024Yield to maturity3.526%Oct 3, 2024Yield to maturity3.669%Oct 11, 2024Yield to maturity3.902%Oct 22, 2024Yield to maturity4.006%Oct 30, 2024Yield to maturity4.144%Nov 7, 2024Yield to maturity4.189%Nov 18, 2024Yield to maturity4.279%Nov 26, 2024Yield to maturity4.261%Dec 5, 2024Yield to maturity4.148%Dec 13, 2024Yield to maturity4.237%Dec 23, 2024Yield to maturity4.354%Jan 2, 2025Yield to maturity4.259%Jan 10, 2025Yield to maturity4.405%Jan 21, 2025Yield to maturity4.286%Jan 29, 2025Yield to maturity4.232%Feb 6, 2025Yield to maturity4.213%Feb 14, 2025Yield to maturity4.279%Feb 25, 2025Yield to maturity4.113%Mar 5, 2025Yield to maturity4.017%Mar 13, 2025Yield to maturity3.976%Mar 21, 2025Yield to maturity3.961%Mar 31, 2025Yield to maturity3.937%Apr 8, 2025Yield to maturity3.758%Apr 16, 2025Yield to maturity3.830%Apr 25, 2025Yield to maturity3.836%May 5, 2025Yield to maturity3.911%May 13, 2025Yield to maturity4.091%May 21, 2025Yield to maturity4.068%May 30, 2025Yield to maturity3.995%Jun 9, 2025Yield to maturity4.098%Jun 17, 2025Yield to maturity4.030%Jun 26, 2025Yield to maturity3.855%Jul 7, 2025Yield to maturity4.020%Jul 15, 2025Yield to maturity4.061%Jul 23, 2025Yield to maturity4.010%Jul 31, 2025Yield to maturity4.076%Aug 8, 2025Yield to maturity3.867%Aug 18, 2025Yield to maturity3.885%Aug 26, 2025Yield to maturity3.804%Sep 4, 2025Yield to maturity3.750%Sep 12, 2025Yield to maturity3.675%Sep 22, 2025Yield to maturity3.690%Sep 30, 2025Yield to maturity3.706%Oct 8, 2025Yield to maturity3.669%Oct 17, 2025Yield to maturity3.565%Oct 27, 2025Yield to maturity3.608%Nov 4, 2025Yield to maturity3.681%Nov 13, 2025Yield to maturity3.704%Nov 21, 2025Yield to maturity3.646%Dec 2, 2025Yield to maturity3.639%Dec 10, 2025Yield to maturity3.627%Dec 18, 2025Yield to maturity3.519%Dec 29, 2025Yield to maturity3.554%Jan 7, 2026Yield to maturity3.545%Jan 15, 2026Yield to maturity3.598%Jan 26, 2026Yield to maturity3.605%Feb 3, 2026Yield to maturity3.590%Feb 11, 2026Yield to maturity3.575%Feb 20, 2026Yield to maturity3.581%Mar 2, 2026Yield to maturity3.604%Mar 10, 2026Yield to maturity3.628%Mar 18, 2026Yield to maturity3.736%Mar 26, 2026Yield to maturity3.851%Apr 3, 2026Yield to maturity3.772%Apr 13, 2026Yield to maturity3.759%Apr 21, 2026Yield to maturity3.746%Apr 29, 2026Yield to maturity3.780%May 7, 2026Yield to maturity3.717%May 15, 2026Yield to maturity3.775%May 26, 2026Yield to maturity3.827%Jun 3, 2026Yield to maturity3.814%Jun 11, 2026Yield to maturity3.859%Jun 22, 2026Yield to maturity3.950%Jun 30, 2026Yield to maturity3.941%Jul 9, 2026Yield to maturity3.942%Jul 17, 2026Yield to maturity3.959%Jul 27, 2026Yield to maturity4.020%Aug 4, 2026Yield to maturity3.929%Aug 12, 2026Yield to maturity3.912%Aug 20, 2026Yield to maturity3.893%Aug 28, 2026Yield to maturity3.915%Sep 8, 2026Yield to maturity4.022%Sep 16, 2026Yield to maturity4.231%Sep 24, 2026Yield to maturity4.476%Oct 2, 2026Yield to maturity4.173%Oct 13, 2026Yield to maturity4.210%Oct 21, 2026Yield to maturity4.215%Oct 29, 2026Yield to maturity4.221%Nov 6, 2026Yield to maturity4.123%Nov 9, 2026Yield to maturity4.179%

Price history

1,214 trading days to Nov 9, 2026

85.087.590.092.595.097.5100.0Dec 31, 2021Nov 9, 2026Dec 31, 2021Close99.938Jan 10, 2022Close98.656Jan 19, 2022Close98.250Jan 27, 2022Close98.063Feb 4, 2022Close97.563Feb 14, 2022Close96.906Feb 23, 2022Close97.000Mar 3, 2022Close97.656Mar 11, 2022Close96.719Mar 21, 2022Close95.000Mar 29, 2022Close94.281Apr 6, 2022Close93.438Apr 14, 2022Close93.188Apr 25, 2022Close92.969May 3, 2022Close92.313May 11, 2022Close92.875May 19, 2022Close93.094May 27, 2022Close93.594Jun 7, 2022Close92.500Jun 15, 2022Close90.969Jun 24, 2022Close91.875Jul 5, 2022Close93.344Jul 13, 2022Close92.500Jul 21, 2022Close92.625Jul 29, 2022Close93.813Aug 8, 2022Close92.906Aug 16, 2022Close92.781Aug 24, 2022Close91.719Sep 1, 2022Close91.125Sep 12, 2022Close90.938Sep 20, 2022Close89.844Sep 28, 2022Close89.281Oct 6, 2022Close88.844Oct 17, 2022Close88.156Oct 25, 2022Close88.281Nov 2, 2022Close88.094Nov 10, 2022Close89.438Nov 21, 2022Close89.188Nov 30, 2022Close89.844Dec 8, 2022Close90.281Dec 16, 2022Close90.719Dec 27, 2022Close89.688Jan 5, 2023Close89.844Jan 13, 2023Close90.938Jan 24, 2023Close91.094Feb 1, 2023Close91.469Feb 9, 2023Close90.125Feb 17, 2023Close89.625Feb 28, 2023Close89.125Mar 8, 2023Close88.469Mar 16, 2023Close90.688Mar 24, 2023Close91.938Apr 3, 2023Close91.594Apr 11, 2023Close91.563Apr 19, 2023Close91.031Apr 27, 2023Close91.500May 5, 2023Close92.219May 15, 2023Close92.094May 23, 2023Close91.125Jun 1, 2023Close91.281Jun 9, 2023Close90.625Jun 20, 2023Close90.469Jun 28, 2023Close90.469Jul 7, 2023Close89.500Jul 17, 2023Close90.500Jul 25, 2023Close90.000Aug 2, 2023Close90.000Aug 10, 2023Close90.188Aug 18, 2023Close89.813Aug 28, 2023Close89.719Sep 6, 2023Close89.688Sep 14, 2023Close89.813Sep 22, 2023Close89.500Oct 2, 2023Close89.313Oct 11, 2023Close89.750Oct 19, 2023Close89.094Oct 27, 2023Close89.656Nov 6, 2023Close90.063Nov 14, 2023Close90.563Nov 22, 2023Close90.500Dec 1, 2023Close91.406Dec 11, 2023Close91.094Dec 19, 2023Close91.906Dec 28, 2023Close92.250Jan 8, 2024Close92.094Jan 17, 2024Close92.125Jan 25, 2024Close92.188Feb 2, 2024Close92.156Feb 12, 2024Close91.906Feb 21, 2024Close91.531Feb 29, 2024Close91.594Mar 8, 2024Close92.094Mar 18, 2024Close91.438Mar 26, 2024Close91.813Apr 4, 2024Close91.750Apr 12, 2024Close91.188Apr 22, 2024Close91.063Apr 30, 2024Close90.938May 8, 2024Close91.500May 16, 2024Close91.719May 24, 2024Close91.469Jun 4, 2024Close91.938Jun 12, 2024Close92.063Jun 21, 2024Close92.250Jul 1, 2024Close92.063Jul 10, 2024Close92.531Jul 18, 2024Close92.938Jul 26, 2024Close93.125Aug 5, 2024Close94.219Aug 13, 2024Close94.188Aug 21, 2024Close94.281Aug 29, 2024Close94.313Sep 9, 2024Close94.844Sep 17, 2024Close95.031Sep 25, 2024Close95.094Oct 3, 2024Close94.844Oct 11, 2024Close94.438Oct 22, 2024Close94.281Oct 30, 2024Close94.063Nov 7, 2024Close94.031Nov 18, 2024Close93.938Nov 26, 2024Close94.031Dec 5, 2024Close94.313Dec 13, 2024Close94.219Dec 23, 2024Close94.063Jan 2, 2025Close94.313Jan 10, 2025Close94.125Jan 21, 2025Close94.406Jan 29, 2025Close94.563Feb 6, 2025Close94.656Feb 14, 2025Close94.625Feb 25, 2025Close94.969Mar 5, 2025Close95.188Mar 13, 2025Close95.313Mar 21, 2025Close95.406Mar 31, 2025Close95.500Apr 8, 2025Close95.844Apr 16, 2025Close95.781Apr 25, 2025Close95.844May 5, 2025Close95.781May 13, 2025Close95.563May 21, 2025Close95.656May 30, 2025Close95.844Jun 9, 2025Close95.750Jun 17, 2025Close95.906Jun 26, 2025Close96.219Jul 7, 2025Close96.063Jul 15, 2025Close96.063Jul 23, 2025Close96.188Jul 31, 2025Close96.156Aug 8, 2025Close96.500Aug 18, 2025Close96.531Aug 26, 2025Close96.688Sep 4, 2025Close96.813Sep 12, 2025Close96.969Sep 22, 2025Close97.000Sep 30, 2025Close97.031Oct 8, 2025Close97.125Oct 17, 2025Close97.313Oct 27, 2025Close97.313Nov 4, 2025Close97.281Nov 13, 2025Close97.313Nov 21, 2025Close97.438Dec 2, 2025Close97.500Dec 10, 2025Close97.563Dec 18, 2025Close97.719Dec 29, 2025Close97.750Jan 7, 2026Close97.813Jan 15, 2026Close97.813Jan 26, 2026Close97.875Feb 3, 2026Close97.938Feb 11, 2026Close98.000Feb 20, 2026Close98.063Mar 2, 2026Close98.094Mar 10, 2026Close98.125Mar 18, 2026Close98.094Mar 26, 2026Close98.063Apr 3, 2026Close98.188Apr 13, 2026Close98.250Apr 21, 2026Close98.313Apr 29, 2026Close98.344May 7, 2026Close98.438May 15, 2026Close98.469May 26, 2026Close98.500Jun 3, 2026Close98.563Jun 11, 2026Close98.594Jun 22, 2026Close98.625Jun 30, 2026Close98.688Jul 9, 2026Close98.750Jul 17, 2026Close98.813Jul 27, 2026Close98.844Aug 4, 2026Close98.938Aug 12, 2026Close99.000Aug 20, 2026Close99.063Aug 28, 2026Close99.125Sep 8, 2026Close99.156Sep 16, 2026Close99.156Sep 24, 2026Close99.156Oct 2, 2026Close99.313Oct 13, 2026Close99.375Oct 21, 2026Close99.438Oct 29, 2026Close99.500Nov 6, 2026Close99.594Nov 9, 2026Close99.594
The most recent 20 trading days of prices for 91282CDQ1.
DateBidOfferClose
Nov 9, 202699.594–99.594
Nov 6, 202699.594–99.594
Nov 5, 202699.563–99.563
Nov 4, 202699.563–99.563
Nov 3, 202699.563–99.531
Nov 2, 202699.531–99.531
Oct 30, 202699.531–99.531
Oct 29, 202699.500–99.500
Oct 28, 202699.500–99.500
Oct 27, 202699.500–99.469
Oct 26, 202699.469–99.469
Oct 23, 202699.469–99.469
Oct 22, 202699.438–99.438
Oct 21, 202699.438–99.438
Oct 20, 202699.438–99.438
Oct 19, 202699.406–99.406
Oct 16, 202699.406–99.406
Oct 15, 202699.375–99.375
Oct 14, 202699.375–99.375
Oct 13, 202699.375–99.375

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 91282CDQ1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 28, 2021Dec 31, 2021New issue$57.0bn$64.7bn2.41x1.263%

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.