Treasury note

91282CFF3 · 2.75% due August 15, 2032

Original term
10-Year
Maturity
Aug 15, 2032
Coupon
2.750%
Pays
Semi-Annual
Dated
Aug 15, 2022
First coupon
Feb 15, 2023
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$119.42bn
Held stripped
$168.7m
Share stripped
0.14%

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
4.807%
Modified duration
5.339 yr
DV01
0.0479
Convexity
32.630
Dirty price
89.702

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 7 of twelve buckets, summing to 5.467 years against a modified duration of 5.339.

Against the fitted curve

Priced 2.4 bp cheap to the curve on that day, 11.48 cents per 100 of face.

That is 0.57 standard deviations from its own typical residual.

Yield to maturity, 1,020 observations

2.50%3.00%3.50%4.00%4.50%5.00%5.50%Aug 15, 2022Sep 10, 2026Aug 15, 2022Yield to maturity2.790%Sep 19, 2022Yield to maturity3.490%Oct 24, 2022Yield to maturity4.242%Nov 29, 2022Yield to maturity3.756%Jan 4, 2023Yield to maturity3.687%Feb 8, 2023Yield to maturity3.639%Mar 15, 2023Yield to maturity3.515%Apr 18, 2023Yield to maturity3.584%May 22, 2023Yield to maturity3.729%Jun 27, 2023Yield to maturity3.790%Aug 1, 2023Yield to maturity4.067%Sep 5, 2023Yield to maturity4.295%Oct 10, 2023Yield to maturity4.684%Nov 13, 2023Yield to maturity4.682%Dec 18, 2023Yield to maturity3.971%Jan 24, 2024Yield to maturity4.183%Feb 28, 2024Yield to maturity4.301%Apr 2, 2024Yield to maturity4.374%May 6, 2024Yield to maturity4.493%Jun 10, 2024Yield to maturity4.476%Jul 16, 2024Yield to maturity4.145%Aug 19, 2024Yield to maturity3.826%Sep 23, 2024Yield to maturity3.674%Oct 28, 2024Yield to maturity4.226%Dec 3, 2024Yield to maturity4.202%Jan 8, 2025Yield to maturity4.604%Feb 12, 2025Yield to maturity4.583%Mar 19, 2025Yield to maturity4.164%Apr 22, 2025Yield to maturity4.228%May 27, 2025Yield to maturity4.251%Jul 1, 2025Yield to maturity4.049%Aug 5, 2025Yield to maturity3.979%Sep 9, 2025Yield to maturity3.810%Oct 14, 2025Yield to maturity3.786%Nov 18, 2025Yield to maturity3.870%Dec 23, 2025Yield to maturity3.924%Jan 29, 2026Yield to maturity3.987%Mar 5, 2026Yield to maturity3.882%Apr 8, 2026Yield to maturity4.067%May 12, 2026Yield to maturity4.253%Jun 16, 2026Yield to maturity4.238%Jul 22, 2026Yield to maturity4.491%Aug 25, 2026Yield to maturity4.428%Sep 10, 2026Yield to maturity4.807%

Price history

1,020 trading days to Sep 10, 2026

82.585.087.590.092.595.097.5100.0Aug 15, 2022Sep 10, 2026Aug 15, 2022Close99.656Sep 19, 2022Close93.844Oct 24, 2022Close88.125Nov 29, 2022Close91.875Jan 4, 2023Close92.469Feb 8, 2023Close92.906Mar 15, 2023Close93.906Apr 18, 2023Close93.438May 22, 2023Close92.406Jun 27, 2023Close92.031Aug 1, 2023Close90.125Sep 5, 2023Close88.625Oct 10, 2023Close86.125Nov 13, 2023Close86.250Dec 18, 2023Close91.125Jan 24, 2024Close89.781Feb 28, 2024Close89.094Apr 2, 2024Close88.719May 6, 2024Close88.063Jun 10, 2024Close88.281Jul 16, 2024Close90.500Aug 19, 2024Close92.656Sep 23, 2024Close93.719Oct 28, 2024Close90.281Dec 3, 2024Close90.531Jan 8, 2025Close88.219Feb 12, 2025Close88.469Mar 19, 2025Close91.063Apr 22, 2025Close90.781May 27, 2025Close90.750Jul 1, 2025Close92.031Aug 5, 2025Close92.531Sep 9, 2025Close93.594Oct 14, 2025Close93.813Nov 18, 2025Close93.406Dec 23, 2025Close93.188Jan 29, 2026Close92.938Mar 5, 2026Close93.594Apr 8, 2026Close92.688May 12, 2026Close91.813Jun 16, 2026Close92.000Jul 22, 2026Close90.844Aug 25, 2026Close91.281Sep 10, 2026Close89.500
The most recent 20 trading days of prices for 91282CFF3.
DateBidOfferClose
Sep 10, 202689.67289.65689.500
Sep 9, 202690.12590.09490.125
Sep 8, 202690.39190.37590.313
Sep 4, 202690.48490.46990.406
Sep 3, 202690.65690.62590.531
Sep 2, 202690.37590.34490.375
Sep 1, 202690.51690.50090.344
Aug 31, 202690.60990.59490.594
Aug 28, 202690.84490.81390.656
Aug 27, 202691.18891.15691.063
Aug 26, 202691.20391.18891.125
Aug 25, 202691.26691.25091.281
Aug 24, 202691.06391.03190.969
Aug 21, 202690.85990.84490.844
Aug 20, 202691.04791.03191.063
Aug 19, 202691.20391.18891.250
Aug 18, 202691.07891.06391.063
Aug 17, 202691.10991.09491.031
Aug 14, 202691.20391.18891.125
Aug 13, 202691.34491.31391.344

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.

3 auctions

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 91282CFF3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 10, 2022Aug 15, 2022New issue$35.0bn$57.1bn2.53x2.755%
Sep 12, 2022Sep 15, 2022Reopening$32.0bn$32.0bn2.37x3.330%
Oct 12, 2022Oct 17, 2022Reopening$32.0bn$32.0bn2.34x3.930%

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.