Treasury note

91282CEE7 · 2.375% due March 31, 2029

Original term
7-Year
Maturity
Mar 31, 2029
Coupon
2.375%
Pays
Semi-Annual
Dated
Mar 31, 2022
First coupon
Sep 30, 2022
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$55.67bn
Held stripped
$214.4m
Share stripped
0.39%

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
4.632%
Modified duration
2.406 yr
DV01
0.0230
Convexity
7.117
Dirty price
95.689

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 2.460 years against a modified duration of 2.406.

Against the fitted curve

Priced 1.3 bp rich to the curve on that day, 3.07 cents per 100 of face.

That is -1.01 standard deviations from its own typical residual.

Yield to maturity, 1,113 observations

2.00%2.50%3.00%3.50%4.00%4.50%5.00%5.50%Mar 31, 2022Sep 10, 2026Mar 31, 2022Yield to maturity2.404%May 9, 2022Yield to maturity3.048%Jun 15, 2022Yield to maturity3.408%Jul 25, 2022Yield to maturity2.908%Aug 30, 2022Yield to maturity3.284%Oct 6, 2022Yield to maturity4.039%Nov 15, 2022Yield to maturity3.941%Dec 22, 2022Yield to maturity3.816%Feb 1, 2023Yield to maturity3.477%Mar 10, 2023Yield to maturity3.932%Apr 17, 2023Yield to maturity3.714%May 23, 2023Yield to maturity3.779%Jun 30, 2023Yield to maturity4.093%Aug 8, 2023Yield to maturity4.122%Sep 14, 2023Yield to maturity4.450%Oct 23, 2023Yield to maturity4.882%Nov 29, 2023Yield to maturity4.287%Jan 8, 2024Yield to maturity4.007%Feb 14, 2024Yield to maturity4.281%Mar 22, 2024Yield to maturity4.239%Apr 29, 2024Yield to maturity4.689%Jun 5, 2024Yield to maturity4.342%Jul 15, 2024Yield to maturity4.160%Aug 20, 2024Yield to maturity3.737%Sep 26, 2024Yield to maturity3.586%Nov 4, 2024Yield to maturity4.196%Dec 12, 2024Yield to maturity4.204%Jan 22, 2025Yield to maturity4.424%Feb 28, 2025Yield to maturity4.036%Apr 7, 2025Yield to maturity3.783%May 13, 2025Yield to maturity4.080%Jun 20, 2025Yield to maturity3.912%Jul 29, 2025Yield to maturity3.858%Sep 4, 2025Yield to maturity3.579%Oct 10, 2025Yield to maturity3.565%Nov 19, 2025Yield to maturity3.620%Dec 29, 2025Yield to maturity3.544%Feb 5, 2026Yield to maturity3.582%Mar 16, 2026Yield to maturity3.702%Apr 21, 2026Yield to maturity3.803%May 28, 2026Yield to maturity4.081%Jul 7, 2026Yield to maturity4.222%Aug 12, 2026Yield to maturity4.264%Sep 10, 2026Yield to maturity4.632%

Price history

1,113 trading days to Sep 10, 2026

87.590.092.595.097.5100.0Mar 31, 2022Sep 10, 2026Mar 31, 2022Close99.813May 9, 2022Close95.844Jun 15, 2022Close93.781Jul 25, 2022Close96.781Aug 30, 2022Close94.656Oct 6, 2022Close90.594Nov 15, 2022Close91.250Dec 22, 2022Close92.031Feb 1, 2023Close93.938Mar 10, 2023Close91.688Apr 17, 2023Close92.906May 23, 2023Close92.688Jun 30, 2023Close91.281Aug 8, 2023Close91.281Sep 14, 2023Close89.906Oct 23, 2023Close88.156Nov 29, 2023Close90.969Jan 8, 2024Close92.375Feb 14, 2024Close91.313Mar 22, 2024Close91.656Apr 29, 2024Close89.938Jun 5, 2024Close91.531Jul 15, 2024Close92.438Aug 20, 2024Close94.281Sep 26, 2024Close95.000Nov 4, 2024Close92.750Dec 12, 2024Close92.875Jan 22, 2025Close92.250Feb 28, 2025Close93.813Apr 7, 2025Close94.844May 13, 2025Close93.938Jun 20, 2025Close94.656Jul 29, 2025Close94.969Sep 4, 2025Close96.000Oct 10, 2025Close96.156Nov 19, 2025Close96.094Dec 29, 2025Close96.438Feb 5, 2026Close96.438Mar 16, 2026Close96.219Apr 21, 2026Close96.063May 28, 2026Close95.469Jul 7, 2026Close95.281Aug 12, 2026Close95.344Sep 10, 2026Close94.625
The most recent 20 trading days of prices for 91282CEE7.
DateBidOfferClose
Sep 10, 202694.71994.68894.625
Sep 9, 202694.95394.93894.938
Sep 8, 202695.04795.03195.031
Sep 4, 202695.09495.06395.063
Sep 3, 202695.17295.15695.125
Sep 2, 202695.04795.03195.031
Sep 1, 202695.07895.06395.000
Aug 31, 202695.14195.12595.125
Aug 28, 202695.17295.15695.094
Aug 27, 202695.42295.40695.344
Aug 26, 202695.42295.40695.375
Aug 25, 202695.45395.43895.438
Aug 24, 202695.35995.34495.313
Aug 21, 202695.31395.28195.313
Aug 20, 202695.42295.40695.406
Aug 19, 202695.42295.40695.438
Aug 18, 202695.43895.40695.406
Aug 17, 202695.45395.43895.406
Aug 14, 202695.48495.46995.438
Aug 13, 202695.50095.46995.500

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 91282CEE7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 29, 2022Mar 31, 2022New issue$47.0bn$55.7bn2.44x2.499%

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.