Treasury note

91282CEN7 · 2.75% due April 30, 2027

Original term
5-Year
Maturity
Apr 30, 2027
Coupon
2.750%
Pays
Semi-Annual
Dated
Apr 30, 2022
First coupon
Oct 31, 2022
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$54.62bn
Held stripped
$62.4m
Share stripped
0.11%

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
4.154%
Modified duration
0.616 yr
DV01
0.0062
Convexity
0.685
Dirty price
100.126

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 3 of twelve buckets, summing to 0.626 years against a modified duration of 0.616.

Against the fitted curve

Priced 2.7 bp rich to the curve on that day, 1.65 cents per 100 of face.

That is -1.06 standard deviations from its own typical residual.

Yield to maturity, 1,092 observations

2.50%3.00%3.50%4.00%4.50%5.00%5.50%May 2, 2022Sep 10, 2026May 2, 2022Yield to maturity3.008%Jun 7, 2022Yield to maturity3.005%Jul 14, 2022Yield to maturity3.081%Aug 18, 2022Yield to maturity3.051%Sep 23, 2022Yield to maturity4.035%Oct 31, 2022Yield to maturity4.325%Dec 7, 2022Yield to maturity3.729%Jan 13, 2023Yield to maturity3.696%Feb 21, 2023Yield to maturity4.281%Mar 28, 2023Yield to maturity3.764%May 2, 2023Yield to maturity3.571%Jun 7, 2023Yield to maturity4.090%Jul 14, 2023Yield to maturity4.227%Aug 18, 2023Yield to maturity4.532%Sep 25, 2023Yield to maturity4.767%Oct 31, 2023Yield to maturity4.883%Dec 6, 2023Yield to maturity4.276%Jan 12, 2024Yield to maturity3.914%Feb 20, 2024Yield to maturity4.382%Mar 26, 2024Yield to maturity4.409%Apr 30, 2024Yield to maturity4.892%Jun 5, 2024Yield to maturity4.527%Jul 12, 2024Yield to maturity4.259%Aug 16, 2024Yield to maturity3.919%Sep 23, 2024Yield to maturity3.510%Oct 29, 2024Yield to maturity4.090%Dec 5, 2024Yield to maturity4.130%Jan 13, 2025Yield to maturity4.428%Feb 19, 2025Yield to maturity4.288%Mar 26, 2025Yield to maturity4.022%Apr 30, 2025Yield to maturity3.617%Jun 5, 2025Yield to maturity3.956%Jul 14, 2025Yield to maturity3.932%Aug 18, 2025Yield to maturity3.803%Sep 23, 2025Yield to maturity3.620%Oct 29, 2025Yield to maturity3.634%Dec 5, 2025Yield to maturity3.606%Jan 13, 2026Yield to maturity3.546%Feb 19, 2026Yield to maturity3.532%Mar 26, 2026Yield to maturity3.927%Apr 30, 2026Yield to maturity3.781%Jun 5, 2026Yield to maturity3.969%Jul 14, 2026Yield to maturity4.039%Aug 18, 2026Yield to maturity3.982%Sep 10, 2026Yield to maturity4.154%

Price history

1,092 trading days to Sep 10, 2026

92949698100102May 2, 2022Sep 10, 2026May 2, 2022Close98.813Jun 7, 2022Close98.844Jul 14, 2022Close98.531Aug 18, 2022Close98.688Sep 23, 2022Close94.656Oct 31, 2022Close93.625Dec 7, 2022Close96.063Jan 13, 2023Close96.281Feb 21, 2023Close94.188Mar 28, 2023Close96.188May 2, 2023Close96.969Jun 7, 2023Close95.219Jul 14, 2023Close94.875Aug 18, 2023Close94.000Sep 25, 2023Close93.406Oct 31, 2023Close93.219Dec 6, 2023Close95.219Jan 12, 2024Close96.438Feb 20, 2024Close95.188Mar 26, 2024Close95.250Apr 30, 2024Close94.094Jun 5, 2024Close95.219Jul 12, 2024Close96.063Aug 16, 2024Close97.031Sep 23, 2024Close98.125Oct 29, 2024Close96.844Dec 5, 2024Close96.875Jan 13, 2025Close96.375Feb 19, 2025Close96.813Mar 26, 2025Close97.469Apr 30, 2025Close98.344Jun 5, 2025Close97.813Jul 14, 2025Close97.969Aug 18, 2025Close98.281Sep 23, 2025Close98.656Oct 29, 2025Close98.719Dec 5, 2025Close98.844Jan 13, 2026Close99.000Feb 19, 2026Close99.094Mar 26, 2026Close98.750Apr 30, 2026Close99.000Jun 5, 2026Close98.938Jul 14, 2026Close99.000Aug 18, 2026Close99.156Sep 10, 2026Close99.125
The most recent 20 trading days of prices for 91282CEN7.
DateBidOfferClose
Sep 10, 202699.14199.12599.125
Sep 9, 202699.17299.15699.156
Sep 8, 202699.18899.18899.188
Sep 4, 202699.17299.15699.156
Sep 3, 202699.17299.15699.156
Sep 2, 202699.14199.12599.125
Sep 1, 202699.14199.12599.125
Aug 31, 202699.14199.12599.125
Aug 28, 202699.14199.12599.125
Aug 27, 202699.18899.18899.188
Aug 26, 202699.17299.15699.156
Aug 25, 202699.17299.15699.156
Aug 24, 202699.17299.15699.156
Aug 21, 202699.17299.15699.156
Aug 20, 202699.17299.15699.156
Aug 19, 202699.17299.15699.156
Aug 18, 202699.17299.15699.156
Aug 17, 202699.17299.15699.156
Aug 14, 202699.17299.15699.156
Aug 13, 202699.14199.12599.125

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 91282CEN7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Apr 27, 2022May 2, 2022New issue$49.0bn$55.8bn2.41x2.785%

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.