Treasury note

91282CDW8 · 1.75% due January 31, 2029

Original term
7-Year
Maturity
Jan 31, 2029
Coupon
1.750%
Pays
Semi-Annual
Dated
Jan 31, 2022
First coupon
Jul 31, 2022
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$60.41bn
Held stripped
$348.8m
Share stripped
0.58%

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
4.616%
Modified duration
2.288 yr
DV01
0.0215
Convexity
6.417
Dirty price
93.793

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 5 of twelve buckets, summing to 2.344 years against a modified duration of 2.288.

Against the fitted curve

Priced 2.3 bp rich to the curve on that day, 4.90 cents per 100 of face.

That is -1.59 standard deviations from its own typical residual.

Yield to maturity, 1,155 observations

1%2%3%4%5%6%Jan 31, 2022Sep 10, 2026Jan 31, 2022Yield to maturity1.755%Mar 10, 2022Yield to maturity1.984%Apr 19, 2022Yield to maturity2.958%May 26, 2022Yield to maturity2.766%Jul 7, 2022Yield to maturity3.073%Aug 15, 2022Yield to maturity2.893%Sep 22, 2022Yield to maturity3.906%Nov 1, 2022Yield to maturity4.270%Dec 12, 2022Yield to maturity3.794%Jan 23, 2023Yield to maturity3.607%Mar 2, 2023Yield to maturity4.305%Apr 10, 2023Yield to maturity3.538%May 17, 2023Yield to maturity3.620%Jun 27, 2023Yield to maturity4.016%Aug 4, 2023Yield to maturity4.163%Sep 13, 2023Yield to maturity4.420%Oct 23, 2023Yield to maturity4.861%Nov 30, 2023Yield to maturity4.370%Jan 10, 2024Yield to maturity4.018%Feb 20, 2024Yield to maturity4.278%Mar 28, 2024Yield to maturity4.244%May 6, 2024Yield to maturity4.520%Jun 13, 2024Yield to maturity4.274%Jul 24, 2024Yield to maturity4.180%Aug 30, 2024Yield to maturity3.760%Oct 9, 2024Yield to maturity3.930%Nov 19, 2024Yield to maturity4.271%Dec 30, 2024Yield to maturity4.365%Feb 7, 2025Yield to maturity4.345%Mar 19, 2025Yield to maturity4.012%Apr 25, 2025Yield to maturity3.820%Jun 4, 2025Yield to maturity3.878%Jul 15, 2025Yield to maturity3.974%Aug 21, 2025Yield to maturity3.772%Sep 30, 2025Yield to maturity3.648%Nov 7, 2025Yield to maturity3.593%Dec 18, 2025Yield to maturity3.521%Jan 29, 2026Yield to maturity3.633%Mar 10, 2026Yield to maturity3.609%Apr 16, 2026Yield to maturity3.798%May 26, 2026Yield to maturity4.112%Jul 6, 2026Yield to maturity4.161%Aug 12, 2026Yield to maturity4.259%Sep 10, 2026Yield to maturity4.616%

Price history

1,155 trading days to Sep 10, 2026

85.087.590.092.595.097.5100.0102.5Jan 31, 2022Sep 10, 2026Jan 31, 2022Close99.969Mar 10, 2022Close98.500Apr 19, 2022Close92.625May 26, 2022Close93.844Jul 7, 2022Close92.188Aug 15, 2022Close93.313Sep 22, 2022Close87.969Nov 1, 2022Close86.313Dec 12, 2022Close88.906Jan 23, 2023Close90.031Mar 2, 2023Close86.781Apr 10, 2023Close90.688May 17, 2023Close90.438Jun 27, 2023Close88.750Aug 4, 2023Close88.281Sep 13, 2023Close87.344Oct 23, 2023Close85.688Nov 30, 2023Close88.000Jan 10, 2024Close89.719Feb 20, 2024Close88.844Mar 28, 2024Close89.188May 6, 2024Close88.313Jun 13, 2024Close89.500Jul 24, 2024Close90.094Aug 30, 2024Close91.906Oct 9, 2024Close91.438Nov 19, 2024Close90.406Dec 30, 2024Close90.313Feb 7, 2025Close90.625Mar 19, 2025Close91.969Apr 25, 2025Close92.813Jun 4, 2025Close92.813Jul 15, 2025Close92.719Aug 21, 2025Close93.531Sep 30, 2025Close94.094Nov 7, 2025Close94.438Dec 18, 2025Close94.813Jan 29, 2026Close94.688Mar 10, 2026Close94.938Apr 16, 2026Close94.625May 26, 2026Close94.063Jul 6, 2026Close94.188Aug 12, 2026Close94.188Sep 10, 2026Close93.594
The most recent 20 trading days of prices for 91282CDW8.
DateBidOfferClose
Sep 10, 202693.67293.65693.594
Sep 9, 202693.89193.87593.875
Sep 8, 202693.98493.96993.938
Sep 4, 202694.01694.00093.969
Sep 3, 202694.07894.06394.031
Sep 2, 202693.95393.93893.938
Sep 1, 202693.98493.96993.906
Aug 31, 202694.04794.03194.031
Aug 28, 202694.07894.06394.000
Aug 27, 202694.29794.28194.250
Aug 26, 202694.29794.28194.250
Aug 25, 202694.29794.28194.313
Aug 24, 202694.23494.21994.188
Aug 21, 202694.17294.15694.188
Aug 20, 202694.26694.25094.281
Aug 19, 202694.28194.25094.281
Aug 18, 202694.29794.28194.281
Aug 17, 202694.29794.28194.250
Aug 14, 202694.32894.31394.281
Aug 13, 202694.32894.31394.313

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 91282CDW8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 27, 2022Jan 31, 2022New issue$53.0bn$60.9bn2.36x1.769%

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.