Treasury note

91282CEV9 · 3.25% due June 30, 2029

Original term
7-Year
Maturity
Jun 30, 2029
Coupon
3.250%
Pays
Semi-Annual
Dated
Jun 30, 2022
First coupon
Dec 31, 2022
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$42.97bn
Held stripped
$292.0m
Share stripped
0.68%

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
4.643%
Modified duration
2.621 yr
DV01
0.0254
Convexity
8.347
Dirty price
97.020

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 2.680 years against a modified duration of 2.621.

Against the fitted curve

Priced 2.1 bp rich to the curve on that day, 5.34 cents per 100 of face.

That is -1.25 standard deviations from its own typical residual.

Yield to maturity, 1,051 observations

2.50%3.00%3.50%4.00%4.50%5.00%5.50%Jun 30, 2022Sep 10, 2026Jun 30, 2022Yield to maturity3.035%Aug 4, 2022Yield to maturity2.730%Sep 8, 2022Yield to maturity3.410%Oct 13, 2022Yield to maturity4.170%Nov 17, 2022Yield to maturity3.915%Dec 22, 2022Yield to maturity3.806%Jan 30, 2023Yield to maturity3.663%Mar 6, 2023Yield to maturity4.222%Apr 7, 2023Yield to maturity3.508%May 11, 2023Yield to maturity3.409%Jun 15, 2023Yield to maturity3.900%Jul 21, 2023Yield to maturity4.057%Aug 24, 2023Yield to maturity4.400%Sep 28, 2023Yield to maturity4.689%Nov 2, 2023Yield to maturity4.718%Dec 7, 2023Yield to maturity4.171%Jan 12, 2024Yield to maturity3.891%Feb 16, 2024Yield to maturity4.317%Mar 22, 2024Yield to maturity4.231%Apr 25, 2024Yield to maturity4.741%May 30, 2024Yield to maturity4.601%Jul 5, 2024Yield to maturity4.255%Aug 8, 2024Yield to maturity3.865%Sep 12, 2024Yield to maturity3.506%Oct 17, 2024Yield to maturity3.925%Nov 21, 2024Yield to maturity4.322%Dec 27, 2024Yield to maturity4.457%Feb 3, 2025Yield to maturity4.360%Mar 10, 2025Yield to maturity3.982%Apr 11, 2025Yield to maturity4.122%May 15, 2025Yield to maturity4.038%Jun 20, 2025Yield to maturity3.928%Jul 25, 2025Yield to maturity3.908%Aug 28, 2025Yield to maturity3.645%Oct 2, 2025Yield to maturity3.609%Nov 6, 2025Yield to maturity3.627%Dec 12, 2025Yield to maturity3.648%Jan 20, 2026Yield to maturity3.728%Feb 24, 2026Yield to maturity3.499%Mar 30, 2026Yield to maturity3.878%May 1, 2026Yield to maturity3.929%Jun 5, 2026Yield to maturity4.228%Jul 13, 2026Yield to maturity4.305%Aug 14, 2026Yield to maturity4.254%Sep 10, 2026Yield to maturity4.643%

Price history

1,051 trading days to Sep 10, 2026

90.092.595.097.5100.0102.5105.0Jun 30, 2022Sep 10, 2026Jun 30, 2022Close101.344Aug 4, 2022Close103.250Sep 8, 2022Close99.031Oct 13, 2022Close94.656Nov 17, 2022Close96.156Dec 22, 2022Close96.813Jan 30, 2023Close97.656Mar 6, 2023Close94.656Apr 7, 2023Close98.563May 11, 2023Close99.125Jun 15, 2023Close96.531Jul 21, 2023Close95.781Aug 24, 2023Close94.125Sep 28, 2023Close92.813Nov 2, 2023Close92.781Dec 7, 2023Close95.469Jan 12, 2024Close96.875Feb 16, 2024Close94.938Mar 22, 2024Close95.406Apr 25, 2024Close93.219May 30, 2024Close93.938Jul 5, 2024Close95.531Aug 8, 2024Close97.281Sep 12, 2024Close98.875Oct 17, 2024Close97.125Nov 21, 2024Close95.563Dec 27, 2024Close95.125Feb 3, 2025Close95.594Mar 10, 2025Close97.125Apr 11, 2025Close96.656May 15, 2025Close97.031Jun 20, 2025Close97.500Jul 25, 2025Close97.625Aug 28, 2025Close98.594Oct 2, 2025Close98.750Nov 6, 2025Close98.719Dec 12, 2025Close98.688Jan 20, 2026Close98.469Feb 24, 2026Close99.219Mar 30, 2026Close98.094May 1, 2026Close98.000Jun 5, 2026Close97.219Jul 13, 2026Close97.094Aug 14, 2026Close97.313Sep 10, 2026Close96.375
The most recent 20 trading days of prices for 91282CEV9.
DateBidOfferClose
Sep 10, 202696.45396.43896.375
Sep 9, 202696.73496.71996.719
Sep 8, 202696.85996.84496.813
Sep 4, 202696.90696.87596.844
Sep 3, 202697.01697.00096.938
Sep 2, 202696.84496.81396.844
Sep 1, 202696.89196.87596.813
Aug 31, 202696.98496.96996.969
Aug 28, 202697.03197.00096.938
Aug 27, 202697.28197.25097.219
Aug 26, 202697.28197.25097.250
Aug 25, 202697.32897.31397.313
Aug 24, 202697.23497.21997.188
Aug 21, 202697.17297.15697.188
Aug 20, 202697.29797.28197.281
Aug 19, 202697.31397.28197.344
Aug 18, 202697.32897.31397.313
Aug 17, 202697.35997.34497.313
Aug 14, 202697.39197.37597.313
Aug 13, 202697.42297.40697.406

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 91282CEV9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 28, 2022Jun 30, 2022New issue$40.0bn$43.1bn2.48x3.280%

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.