Treasury note

91282CET4 · 2.625% due May 31, 2027

Original term
5-Year
Maturity
May 31, 2027
Coupon
2.625%
Pays
Semi-Annual
Dated
May 31, 2022
First coupon
Nov 30, 2022
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$52.23bn
Held stripped
$8.0m
Share stripped
0.02%

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
4.293%
Modified duration
0.537 yr
DV01
0.0054
Convexity
0.00554
Dirty price
100.263

Where its rate sensitivity sits

<.01
0.49
0.06
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 0.547 years against a modified duration of 0.537.

Against the fitted curve

Priced 1.8 bp rich to the curve on that day, 0.96 cents per 100 of face.

That is -0.75 standard deviations from its own typical residual.

Yield to maturity, 1,111 observations

2.5%3.0%3.5%4.0%4.5%5.0%5.5%May 31, 2022Nov 9, 2026May 31, 2022Yield to maturity2.814%Jun 7, 2022Yield to maturity2.992%Jun 14, 2022Yield to maturity3.610%Jun 22, 2022Yield to maturity3.225%Jun 29, 2022Yield to maturity3.164%Jul 7, 2022Yield to maturity3.047%Jul 14, 2022Yield to maturity3.069%Jul 21, 2022Yield to maturity3.000%Jul 28, 2022Yield to maturity2.694%Aug 4, 2022Yield to maturity2.771%Aug 11, 2022Yield to maturity2.983%Aug 18, 2022Yield to maturity3.027%Aug 25, 2022Yield to maturity3.187%Sep 1, 2022Yield to maturity3.423%Sep 9, 2022Yield to maturity3.472%Sep 16, 2022Yield to maturity3.654%Sep 23, 2022Yield to maturity4.007%Sep 30, 2022Yield to maturity4.097%Oct 7, 2022Yield to maturity4.166%Oct 17, 2022Yield to maturity4.281%Oct 24, 2022Yield to maturity4.382%Oct 31, 2022Yield to maturity4.294%Nov 7, 2022Yield to maturity4.428%Nov 15, 2022Yield to maturity3.961%Nov 22, 2022Yield to maturity4.021%Nov 30, 2022Yield to maturity3.894%Dec 7, 2022Yield to maturity3.710%Dec 14, 2022Yield to maturity3.714%Dec 21, 2022Yield to maturity3.845%Dec 29, 2022Yield to maturity4.011%Jan 6, 2023Yield to maturity3.762%Jan 13, 2023Yield to maturity3.679%Jan 23, 2023Yield to maturity3.683%Jan 30, 2023Yield to maturity3.760%Feb 6, 2023Yield to maturity3.904%Feb 13, 2023Yield to maturity4.025%Feb 21, 2023Yield to maturity4.265%Feb 28, 2023Yield to maturity4.298%Mar 7, 2023Yield to maturity4.458%Mar 14, 2023Yield to maturity3.924%Mar 21, 2023Yield to maturity3.871%Mar 28, 2023Yield to maturity3.750%Apr 4, 2023Yield to maturity3.496%Apr 11, 2023Yield to maturity3.651%Apr 18, 2023Yield to maturity3.799%Apr 25, 2023Yield to maturity3.525%May 2, 2023Yield to maturity3.563%May 9, 2023Yield to maturity3.601%May 16, 2023Yield to maturity3.614%May 23, 2023Yield to maturity3.879%May 31, 2023Yield to maturity3.903%Jun 7, 2023Yield to maturity4.076%Jun 14, 2023Yield to maturity4.226%Jun 22, 2023Yield to maturity4.216%Jun 29, 2023Yield to maturity4.332%Jul 7, 2023Yield to maturity4.518%Jul 14, 2023Yield to maturity4.214%Jul 21, 2023Yield to maturity4.277%Jul 28, 2023Yield to maturity4.377%Aug 4, 2023Yield to maturity4.311%Aug 11, 2023Yield to maturity4.460%Aug 18, 2023Yield to maturity4.525%Aug 25, 2023Yield to maturity4.610%Sep 1, 2023Yield to maturity4.469%Sep 11, 2023Yield to maturity4.574%Sep 18, 2023Yield to maturity4.641%Sep 25, 2023Yield to maturity4.759%Oct 2, 2023Yield to maturity4.838%Oct 10, 2023Yield to maturity4.723%Oct 17, 2023Yield to maturity4.962%Oct 24, 2023Yield to maturity4.884%Oct 31, 2023Yield to maturity4.886%Nov 7, 2023Yield to maturity4.636%Nov 14, 2023Yield to maturity4.526%Nov 21, 2023Yield to maturity4.536%Nov 29, 2023Yield to maturity4.356%Dec 6, 2023Yield to maturity4.274%Dec 13, 2023Yield to maturity4.151%Dec 20, 2023Yield to maturity4.028%Dec 28, 2023Yield to maturity3.986%Jan 5, 2024Yield to maturity4.139%Jan 12, 2024Yield to maturity3.912%Jan 22, 2024Yield to maturity4.126%Jan 29, 2024Yield to maturity4.071%Feb 5, 2024Yield to maturity4.236%Feb 12, 2024Yield to maturity4.245%Feb 20, 2024Yield to maturity4.384%Feb 27, 2024Yield to maturity4.480%Mar 5, 2024Yield to maturity4.307%Mar 12, 2024Yield to maturity4.349%Mar 19, 2024Yield to maturity4.468%Mar 26, 2024Yield to maturity4.391%Apr 3, 2024Yield to maturity4.502%Apr 10, 2024Yield to maturity4.805%Apr 17, 2024Yield to maturity4.773%Apr 24, 2024Yield to maturity4.797%May 1, 2024Yield to maturity4.799%May 8, 2024Yield to maturity4.662%May 15, 2024Yield to maturity4.525%May 22, 2024Yield to maturity4.653%May 30, 2024Yield to maturity4.749%Jun 6, 2024Yield to maturity4.504%Jun 13, 2024Yield to maturity4.457%Jun 21, 2024Yield to maturity4.485%Jun 28, 2024Yield to maturity4.544%Jul 8, 2024Yield to maturity4.414%Jul 15, 2024Yield to maturity4.257%Jul 22, 2024Yield to maturity4.316%Jul 29, 2024Yield to maturity4.218%Aug 5, 2024Yield to maturity3.744%Aug 12, 2024Yield to maturity3.873%Aug 19, 2024Yield to maturity3.905%Aug 26, 2024Yield to maturity3.779%Sep 3, 2024Yield to maturity3.763%Sep 10, 2024Yield to maturity3.486%Sep 17, 2024Yield to maturity3.492%Sep 24, 2024Yield to maturity3.473%Oct 1, 2024Yield to maturity3.555%Oct 8, 2024Yield to maturity3.918%Oct 16, 2024Yield to maturity3.877%Oct 23, 2024Yield to maturity4.042%Oct 30, 2024Yield to maturity4.145%Nov 6, 2024Yield to maturity4.249%Nov 14, 2024Yield to maturity4.317%Nov 21, 2024Yield to maturity4.316%Nov 29, 2024Yield to maturity4.156%Dec 6, 2024Yield to maturity4.086%Dec 13, 2024Yield to maturity4.249%Dec 20, 2024Yield to maturity4.331%Dec 30, 2024Yield to maturity4.275%Jan 7, 2025Yield to maturity4.318%Jan 14, 2025Yield to maturity4.417%Jan 22, 2025Yield to maturity4.318%Jan 29, 2025Yield to maturity4.244%Feb 5, 2025Yield to maturity4.198%Feb 12, 2025Yield to maturity4.389%Feb 20, 2025Yield to maturity4.286%Feb 27, 2025Yield to maturity4.075%Mar 6, 2025Yield to maturity3.997%Mar 13, 2025Yield to maturity3.963%Mar 20, 2025Yield to maturity3.959%Mar 27, 2025Yield to maturity4.017%Apr 3, 2025Yield to maturity3.719%Apr 10, 2025Yield to maturity3.869%Apr 17, 2025Yield to maturity3.817%Apr 25, 2025Yield to maturity3.785%May 2, 2025Yield to maturity3.844%May 9, 2025Yield to maturity3.904%May 16, 2025Yield to maturity3.982%May 23, 2025Yield to maturity4.013%Jun 2, 2025Yield to maturity3.959%Jun 9, 2025Yield to maturity4.022%Jun 16, 2025Yield to maturity3.984%Jun 24, 2025Yield to maturity3.827%Jul 1, 2025Yield to maturity3.804%Jul 9, 2025Yield to maturity3.887%Jul 16, 2025Yield to maturity3.917%Jul 23, 2025Yield to maturity3.912%Jul 30, 2025Yield to maturity3.979%Aug 6, 2025Yield to maturity3.738%Aug 13, 2025Yield to maturity3.713%Aug 20, 2025Yield to maturity3.780%Aug 27, 2025Yield to maturity3.698%Sep 4, 2025Yield to maturity3.655%Sep 11, 2025Yield to maturity3.589%Sep 18, 2025Yield to maturity3.600%Sep 25, 2025Yield to maturity3.709%Oct 2, 2025Yield to maturity3.583%Oct 9, 2025Yield to maturity3.634%Oct 17, 2025Yield to maturity3.508%Oct 24, 2025Yield to maturity3.519%Oct 31, 2025Yield to maturity3.634%Nov 7, 2025Yield to maturity3.604%Nov 17, 2025Yield to maturity3.661%Nov 24, 2025Yield to maturity3.544%Dec 2, 2025Yield to maturity3.580%Dec 9, 2025Yield to maturity3.636%Dec 16, 2025Yield to maturity3.492%Dec 23, 2025Yield to maturity3.548%Dec 31, 2025Yield to maturity3.495%Jan 8, 2026Yield to maturity3.506%Jan 15, 2026Yield to maturity3.589%Jan 23, 2026Yield to maturity3.584%Jan 30, 2026Yield to maturity3.549%Feb 6, 2026Yield to maturity3.512%Feb 13, 2026Yield to maturity3.451%Feb 23, 2026Yield to maturity3.515%Mar 2, 2026Yield to maturity3.555%Mar 9, 2026Yield to maturity3.622%Mar 16, 2026Yield to maturity3.719%Mar 23, 2026Yield to maturity3.873%Mar 30, 2026Yield to maturity3.838%Apr 6, 2026Yield to maturity3.830%Apr 13, 2026Yield to maturity3.793%Apr 20, 2026Yield to maturity3.725%Apr 27, 2026Yield to maturity3.774%May 4, 2026Yield to maturity3.856%May 11, 2026Yield to maturity3.847%May 18, 2026Yield to maturity3.933%May 26, 2026Yield to maturity3.930%Jun 2, 2026Yield to maturity3.922%Jun 9, 2026Yield to maturity3.980%Jun 16, 2026Yield to maturity3.939%Jun 24, 2026Yield to maturity4.073%Jul 1, 2026Yield to maturity4.103%Jul 9, 2026Yield to maturity4.102%Jul 16, 2026Yield to maturity4.059%Jul 23, 2026Yield to maturity4.205%Jul 30, 2026Yield to maturity4.085%Aug 6, 2026Yield to maturity4.119%Aug 13, 2026Yield to maturity4.033%Aug 20, 2026Yield to maturity4.025%Aug 27, 2026Yield to maturity4.018%Sep 3, 2026Yield to maturity4.097%Sep 11, 2026Yield to maturity4.290%Sep 18, 2026Yield to maturity4.383%Sep 25, 2026Yield to maturity4.481%Oct 2, 2026Yield to maturity4.387%Oct 9, 2026Yield to maturity4.397%Oct 19, 2026Yield to maturity4.399%Oct 26, 2026Yield to maturity4.402%Nov 2, 2026Yield to maturity4.293%Nov 9, 2026Yield to maturity4.293%

Price history

1,111 trading days to Nov 9, 2026

92949698100May 31, 2022Nov 9, 2026May 31, 2022Close99.125Jun 7, 2022Close98.313Jun 14, 2022Close95.563Jun 22, 2022Close97.281Jun 29, 2022Close97.563Jul 7, 2022Close98.094Jul 14, 2022Close98.000Jul 21, 2022Close98.313Jul 28, 2022Close99.688Aug 4, 2022Close99.344Aug 11, 2022Close98.406Aug 18, 2022Close98.219Aug 25, 2022Close97.531Sep 1, 2022Close96.531Sep 9, 2022Close96.344Sep 16, 2022Close95.594Sep 23, 2022Close94.156Sep 30, 2022Close93.813Oct 7, 2022Close93.563Oct 17, 2022Close93.125Oct 24, 2022Close92.750Oct 31, 2022Close93.125Nov 7, 2022Close92.625Nov 15, 2022Close94.500Nov 22, 2022Close94.281Nov 30, 2022Close94.813Dec 7, 2022Close95.563Dec 14, 2022Close95.563Dec 21, 2022Close95.063Dec 29, 2022Close94.438Jan 6, 2023Close95.438Jan 13, 2023Close95.781Jan 23, 2023Close95.781Jan 30, 2023Close95.500Feb 6, 2023Close94.969Feb 13, 2023Close94.531Feb 21, 2023Close93.656Feb 28, 2023Close93.563Mar 7, 2023Close93.000Mar 14, 2023Close95.000Mar 21, 2023Close95.219Mar 28, 2023Close95.688Apr 4, 2023Close96.656Apr 11, 2023Close96.094Apr 18, 2023Close95.563Apr 25, 2023Close96.594May 2, 2023Close96.469May 9, 2023Close96.344May 16, 2023Close96.313May 23, 2023Close95.375May 31, 2023Close95.313Jun 7, 2023Close94.719Jun 14, 2023Close94.219Jun 22, 2023Close94.281Jun 29, 2023Close93.906Jul 7, 2023Close93.313Jul 14, 2023Close94.375Jul 21, 2023Close94.188Jul 28, 2023Close93.875Aug 4, 2023Close94.125Aug 11, 2023Close93.656Aug 18, 2023Close93.469Aug 25, 2023Close93.219Sep 1, 2023Close93.719Sep 11, 2023Close93.406Sep 18, 2023Close93.219Sep 25, 2023Close92.875Oct 2, 2023Close92.656Oct 10, 2023Close93.063Oct 17, 2023Close92.344Oct 24, 2023Close92.625Oct 31, 2023Close92.656Nov 7, 2023Close93.469Nov 14, 2023Close93.844Nov 21, 2023Close93.844Nov 29, 2023Close94.438Dec 6, 2023Close94.719Dec 13, 2023Close95.125Dec 20, 2023Close95.531Dec 28, 2023Close95.688Jan 5, 2024Close95.250Jan 12, 2024Close95.969Jan 22, 2024Close95.344Jan 29, 2024Close95.531Feb 5, 2024Close95.063Feb 12, 2024Close95.063Feb 20, 2024Close94.688Feb 27, 2024Close94.438Mar 5, 2024Close94.969Mar 12, 2024Close94.875Mar 19, 2024Close94.563Mar 26, 2024Close94.813Apr 3, 2024Close94.531Apr 10, 2024Close93.719Apr 17, 2024Close93.844Apr 24, 2024Close93.813May 1, 2024Close93.844May 8, 2024Close94.250May 15, 2024Close94.656May 22, 2024Close94.344May 30, 2024Close94.125Jun 6, 2024Close94.813Jun 13, 2024Close94.969Jun 21, 2024Close94.938Jun 28, 2024Close94.813Jul 8, 2024Close95.188Jul 15, 2024Close95.625Jul 22, 2024Close95.500Jul 29, 2024Close95.781Aug 5, 2024Close97.031Aug 12, 2024Close96.719Aug 19, 2024Close96.656Aug 26, 2024Close97.000Sep 3, 2024Close97.063Sep 10, 2024Close97.781Sep 17, 2024Close97.781Sep 24, 2024Close97.844Oct 1, 2024Close97.656Oct 8, 2024Close96.781Oct 16, 2024Close96.906Oct 23, 2024Close96.531Oct 30, 2024Close96.313Nov 6, 2024Close96.094Nov 14, 2024Close95.969Nov 21, 2024Close96.000Nov 29, 2024Close96.406Dec 6, 2024Close96.594Dec 13, 2024Close96.250Dec 20, 2024Close96.094Dec 30, 2024Close96.250Jan 7, 2025Close96.188Jan 14, 2025Close96.000Jan 22, 2025Close96.250Jan 29, 2025Close96.438Feb 5, 2025Close96.563Feb 12, 2025Close96.188Feb 20, 2025Close96.438Feb 27, 2025Close96.906Mar 6, 2025Close97.094Mar 13, 2025Close97.188Mar 20, 2025Close97.219Mar 27, 2025Close97.125Apr 3, 2025Close97.750Apr 10, 2025Close97.469Apr 17, 2025Close97.594Apr 25, 2025Close97.688May 2, 2025Close97.594May 9, 2025Close97.500May 16, 2025Close97.375May 23, 2025Close97.344Jun 2, 2025Close97.469Jun 9, 2025Close97.375Jun 16, 2025Close97.469Jun 24, 2025Close97.781Jul 1, 2025Close97.844Jul 9, 2025Close97.719Jul 16, 2025Close97.688Jul 23, 2025Close97.719Jul 30, 2025Close97.625Aug 6, 2025Close98.063Aug 13, 2025Close98.125Aug 20, 2025Close98.031Aug 27, 2025Close98.188Sep 4, 2025Close98.281Sep 11, 2025Close98.406Sep 18, 2025Close98.406Sep 25, 2025Close98.250Oct 2, 2025Close98.469Oct 9, 2025Close98.406Oct 17, 2025Close98.625Oct 24, 2025Close98.625Oct 31, 2025Close98.469Nov 7, 2025Close98.531Nov 17, 2025Close98.469Nov 24, 2025Close98.656Dec 2, 2025Close98.625Dec 9, 2025Close98.563Dec 16, 2025Close98.781Dec 23, 2025Close98.719Dec 31, 2025Close98.813Jan 8, 2026Close98.813Jan 15, 2026Close98.719Jan 23, 2026Close98.750Jan 30, 2026Close98.813Feb 6, 2026Close98.875Feb 13, 2026Close98.969Feb 23, 2026Close98.906Mar 2, 2026Close98.875Mar 9, 2026Close98.813Mar 16, 2026Close98.719Mar 23, 2026Close98.563Mar 30, 2026Close98.625Apr 6, 2026Close98.656Apr 13, 2026Close98.719Apr 20, 2026Close98.813Apr 27, 2026Close98.781May 4, 2026Close98.719May 11, 2026Close98.750May 18, 2026Close98.688May 26, 2026Close98.719Jun 2, 2026Close98.750Jun 9, 2026Close98.719Jun 16, 2026Close98.781Jun 24, 2026Close98.688Jul 1, 2026Close98.688Jul 9, 2026Close98.719Jul 16, 2026Close98.781Jul 23, 2026Close98.688Jul 30, 2026Close98.813Aug 6, 2026Close98.813Aug 13, 2026Close98.906Aug 20, 2026Close98.938Aug 27, 2026Close98.969Sep 3, 2026Close98.938Sep 11, 2026Close98.844Sep 18, 2026Close98.813Sep 25, 2026Close98.781Oct 2, 2026Close98.875Oct 9, 2026Close98.906Oct 19, 2026Close98.938Oct 26, 2026Close98.969Nov 2, 2026Close99.063Nov 9, 2026Close99.094
The most recent 20 trading days of prices for 91282CET4.
DateBidOfferClose
Nov 9, 202699.09499.10999.094
Nov 6, 202699.09499.10999.094
Nov 5, 202699.09499.10999.094
Nov 4, 202699.06399.07899.063
Nov 3, 202699.06399.07899.063
Nov 2, 202699.06399.07899.063
Oct 30, 202699.03199.04799.063
Oct 29, 202699.03199.04799.031
Oct 28, 202699.00099.01699.000
Oct 27, 202699.00099.01699.000
Oct 26, 202699.00099.01698.969
Oct 23, 202699.00099.01699.000
Oct 22, 202698.96998.98499.000
Oct 21, 202698.93898.95398.938
Oct 20, 202698.93898.95398.938
Oct 19, 202698.93898.95398.938
Oct 16, 202698.93898.95398.938
Oct 15, 202698.90698.92298.906
Oct 14, 202698.84498.89198.875
Oct 13, 202698.90698.92298.906

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 91282CET4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 25, 2022May 31, 2022New issue$48.0bn$55.2bn2.44x2.736%

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.