Treasury note

91282CFJ5 · 3.125% due August 31, 2029

Original term
7-Year
Maturity
Aug 31, 2029
Coupon
3.125%
Pays
Semi-Annual
Dated
Aug 31, 2022
First coupon
Feb 28, 2023
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$40.95bn
Held stripped
$60.9m
Share stripped
0.15%

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
4.613%
Modified duration
2.627 yr
DV01
0.0254
Convexity
0.0838
Dirty price
96.738

Where its rate sensitivity sits

<.01
0.01
0.03
0.56
2.10
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 2.689 years against a modified duration of 2.627.

Against the fitted curve

Priced 1.8 bp rich to the curve on that day, 4.60 cents per 100 of face.

That is -1.04 standard deviations from its own typical residual.

Yield to maturity, 1,047 observations

3.0%3.5%4.0%4.5%5.0%5.5%Aug 31, 2022Nov 9, 2026Aug 31, 2022Yield to maturity3.251%Sep 8, 2022Yield to maturity3.373%Sep 15, 2022Yield to maturity3.590%Sep 22, 2022Yield to maturity3.844%Sep 29, 2022Yield to maturity3.915%Oct 6, 2022Yield to maturity3.982%Oct 14, 2022Yield to maturity4.181%Oct 21, 2022Yield to maturity4.299%Oct 28, 2022Yield to maturity4.142%Nov 4, 2022Yield to maturity4.294%Nov 14, 2022Yield to maturity3.983%Nov 21, 2022Yield to maturity3.957%Nov 29, 2022Yield to maturity3.883%Dec 6, 2022Yield to maturity3.669%Dec 13, 2022Yield to maturity3.621%Dec 20, 2022Yield to maturity3.796%Dec 28, 2022Yield to maturity3.986%Jan 5, 2023Yield to maturity3.855%Jan 12, 2023Yield to maturity3.519%Jan 20, 2023Yield to maturity3.542%Jan 27, 2023Yield to maturity3.609%Feb 3, 2023Yield to maturity3.637%Feb 10, 2023Yield to maturity3.889%Feb 17, 2023Yield to maturity3.981%Feb 27, 2023Yield to maturity4.120%Mar 6, 2023Yield to maturity4.209%Mar 13, 2023Yield to maturity3.689%Mar 20, 2023Yield to maturity3.601%Mar 27, 2023Yield to maturity3.619%Apr 3, 2023Yield to maturity3.526%Apr 10, 2023Yield to maturity3.516%Apr 17, 2023Yield to maturity3.691%Apr 24, 2023Yield to maturity3.602%May 1, 2023Yield to maturity3.660%May 8, 2023Yield to maturity3.537%May 15, 2023Yield to maturity3.509%May 22, 2023Yield to maturity3.779%May 30, 2023Yield to maturity3.816%Jun 6, 2023Yield to maturity3.835%Jun 13, 2023Yield to maturity3.995%Jun 21, 2023Yield to maturity3.910%Jun 28, 2023Yield to maturity3.912%Jul 6, 2023Yield to maturity4.298%Jul 13, 2023Yield to maturity3.911%Jul 20, 2023Yield to maturity4.038%Jul 27, 2023Yield to maturity4.210%Aug 3, 2023Yield to maturity4.317%Aug 10, 2023Yield to maturity4.217%Aug 17, 2023Yield to maturity4.429%Aug 24, 2023Yield to maturity4.396%Aug 31, 2023Yield to maturity4.245%Sep 8, 2023Yield to maturity4.405%Sep 15, 2023Yield to maturity4.465%Sep 22, 2023Yield to maturity4.583%Sep 29, 2023Yield to maturity4.664%Oct 6, 2023Yield to maturity4.811%Oct 16, 2023Yield to maturity4.771%Oct 23, 2023Yield to maturity4.886%Oct 30, 2023Yield to maturity4.892%Nov 6, 2023Yield to maturity4.681%Nov 13, 2023Yield to maturity4.725%Nov 20, 2023Yield to maturity4.489%Nov 28, 2023Yield to maturity4.371%Dec 5, 2023Yield to maturity4.214%Dec 12, 2023Yield to maturity4.269%Dec 19, 2023Yield to maturity3.984%Dec 27, 2023Yield to maturity3.835%Jan 4, 2024Yield to maturity4.016%Jan 11, 2024Yield to maturity3.955%Jan 19, 2024Yield to maturity4.114%Jan 26, 2024Yield to maturity4.097%Feb 2, 2024Yield to maturity4.022%Feb 9, 2024Yield to maturity4.176%Feb 16, 2024Yield to maturity4.319%Feb 26, 2024Yield to maturity4.329%Mar 4, 2024Yield to maturity4.246%Mar 11, 2024Yield to maturity4.117%Mar 18, 2024Yield to maturity4.381%Mar 25, 2024Yield to maturity4.257%Apr 2, 2024Yield to maturity4.369%Apr 9, 2024Yield to maturity4.394%Apr 16, 2024Yield to maturity4.708%Apr 23, 2024Yield to maturity4.636%Apr 30, 2024Yield to maturity4.739%May 7, 2024Yield to maturity4.486%May 14, 2024Yield to maturity4.477%May 21, 2024Yield to maturity4.446%May 29, 2024Yield to maturity4.655%Jun 5, 2024Yield to maturity4.323%Jun 12, 2024Yield to maturity4.334%Jun 20, 2024Yield to maturity4.283%Jun 27, 2024Yield to maturity4.322%Jul 5, 2024Yield to maturity4.243%Jul 12, 2024Yield to maturity4.128%Jul 19, 2024Yield to maturity4.187%Jul 26, 2024Yield to maturity4.099%Aug 2, 2024Yield to maturity3.642%Aug 9, 2024Yield to maturity3.825%Aug 16, 2024Yield to maturity3.792%Aug 23, 2024Yield to maturity3.675%Aug 30, 2024Yield to maturity3.755%Sep 9, 2024Yield to maturity3.532%Sep 16, 2024Yield to maturity3.443%Sep 23, 2024Yield to maturity3.535%Sep 30, 2024Yield to maturity3.607%Oct 7, 2024Yield to maturity3.895%Oct 15, 2024Yield to maturity3.884%Oct 22, 2024Yield to maturity4.025%Oct 29, 2024Yield to maturity4.132%Nov 5, 2024Yield to maturity4.180%Nov 13, 2024Yield to maturity4.319%Nov 20, 2024Yield to maturity4.301%Nov 27, 2024Yield to maturity4.163%Dec 5, 2024Yield to maturity4.099%Dec 12, 2024Yield to maturity4.194%Dec 19, 2024Yield to maturity4.443%Dec 27, 2024Yield to maturity4.458%Jan 6, 2025Yield to maturity4.425%Jan 13, 2025Yield to maturity4.618%Jan 21, 2025Yield to maturity4.405%Jan 28, 2025Yield to maturity4.339%Feb 4, 2025Yield to maturity4.328%Feb 11, 2025Yield to maturity4.381%Feb 19, 2025Yield to maturity4.371%Feb 26, 2025Yield to maturity4.091%Mar 5, 2025Yield to maturity4.079%Mar 12, 2025Yield to maturity4.083%Mar 19, 2025Yield to maturity4.031%Mar 26, 2025Yield to maturity4.082%Apr 2, 2025Yield to maturity3.943%Apr 9, 2025Yield to maturity4.042%Apr 16, 2025Yield to maturity3.877%Apr 24, 2025Yield to maturity3.897%May 1, 2025Yield to maturity3.787%May 8, 2025Yield to maturity3.976%May 15, 2025Yield to maturity4.045%May 22, 2025Yield to maturity4.081%May 30, 2025Yield to maturity3.947%Jun 6, 2025Yield to maturity4.108%Jun 13, 2025Yield to maturity3.987%Jun 23, 2025Yield to maturity3.867%Jun 30, 2025Yield to maturity3.754%Jul 8, 2025Yield to maturity3.949%Jul 15, 2025Yield to maturity4.003%Jul 22, 2025Yield to maturity3.838%Jul 29, 2025Yield to maturity3.867%Aug 5, 2025Yield to maturity3.726%Aug 12, 2025Yield to maturity3.780%Aug 19, 2025Yield to maturity3.774%Aug 26, 2025Yield to maturity3.691%Sep 3, 2025Yield to maturity3.643%Sep 10, 2025Yield to maturity3.550%Sep 17, 2025Yield to maturity3.578%Sep 24, 2025Yield to maturity3.667%Oct 1, 2025Yield to maturity3.634%Oct 8, 2025Yield to maturity3.672%Oct 16, 2025Yield to maturity3.490%Oct 23, 2025Yield to maturity3.553%Oct 30, 2025Yield to maturity3.671%Nov 6, 2025Yield to maturity3.638%Nov 14, 2025Yield to maturity3.677%Nov 21, 2025Yield to maturity3.562%Dec 1, 2025Yield to maturity3.610%Dec 8, 2025Yield to maturity3.676%Dec 15, 2025Yield to maturity3.642%Dec 22, 2025Yield to maturity3.627%Dec 30, 2025Yield to maturity3.583%Jan 7, 2026Yield to maturity3.595%Jan 14, 2026Yield to maturity3.626%Jan 22, 2026Yield to maturity3.742%Jan 29, 2026Yield to maturity3.688%Feb 5, 2026Yield to maturity3.625%Feb 12, 2026Yield to maturity3.570%Feb 20, 2026Yield to maturity3.554%Feb 27, 2026Yield to maturity3.431%Mar 6, 2026Yield to maturity3.636%Mar 13, 2026Yield to maturity3.796%Mar 20, 2026Yield to maturity3.959%Mar 27, 2026Yield to maturity3.993%Apr 3, 2026Yield to maturity3.927%Apr 10, 2026Yield to maturity3.860%Apr 17, 2026Yield to maturity3.763%Apr 24, 2026Yield to maturity3.838%May 1, 2026Yield to maturity3.944%May 8, 2026Yield to maturity3.948%May 15, 2026Yield to maturity4.182%May 22, 2026Yield to maturity4.210%Jun 1, 2026Yield to maturity4.121%Jun 8, 2026Yield to maturity4.233%Jun 15, 2026Yield to maturity4.132%Jun 23, 2026Yield to maturity4.236%Jun 30, 2026Yield to maturity4.166%Jul 8, 2026Yield to maturity4.250%Jul 15, 2026Yield to maturity4.191%Jul 22, 2026Yield to maturity4.352%Jul 29, 2026Yield to maturity4.303%Aug 5, 2026Yield to maturity4.255%Aug 12, 2026Yield to maturity4.284%Aug 19, 2026Yield to maturity4.257%Aug 26, 2026Yield to maturity4.298%Sep 2, 2026Yield to maturity4.467%Sep 10, 2026Yield to maturity4.662%Sep 17, 2026Yield to maturity4.754%Sep 24, 2026Yield to maturity5.003%Oct 1, 2026Yield to maturity4.906%Oct 8, 2026Yield to maturity4.881%Oct 16, 2026Yield to maturity4.824%Oct 23, 2026Yield to maturity4.762%Oct 30, 2026Yield to maturity4.663%Nov 6, 2026Yield to maturity4.587%Nov 9, 2026Yield to maturity4.613%

Price history

1,047 trading days to Nov 9, 2026

9092949698100Aug 31, 2022Nov 9, 2026Aug 31, 2022Close99.219Sep 8, 2022Close98.469Sep 15, 2022Close97.156Sep 22, 2022Close95.656Sep 29, 2022Close95.250Oct 6, 2022Close94.875Oct 14, 2022Close93.750Oct 21, 2022Close93.094Oct 28, 2022Close94.000Nov 4, 2022Close93.156Nov 14, 2022Close94.938Nov 21, 2022Close95.094Nov 29, 2022Close95.531Dec 6, 2022Close96.781Dec 13, 2022Close97.063Dec 20, 2022Close96.063Dec 28, 2022Close95.000Jan 5, 2023Close95.750Jan 12, 2023Close97.688Jan 20, 2023Close97.563Jan 27, 2023Close97.188Feb 3, 2023Close97.031Feb 10, 2023Close95.625Feb 17, 2023Close95.125Feb 27, 2023Close94.375Mar 6, 2023Close93.906Mar 13, 2023Close96.781Mar 20, 2023Close97.281Mar 27, 2023Close97.188Apr 3, 2023Close97.719Apr 10, 2023Close97.781Apr 17, 2023Close96.813Apr 24, 2023Close97.313May 1, 2023Close97.000May 8, 2023Close97.688May 15, 2023Close97.844May 22, 2023Close96.375May 30, 2023Close96.188Jun 6, 2023Close96.094Jun 13, 2023Close95.250Jun 21, 2023Close95.719Jun 28, 2023Close95.719Jul 6, 2023Close93.719Jul 13, 2023Close95.750Jul 20, 2023Close95.094Jul 27, 2023Close94.219Aug 3, 2023Close93.688Aug 10, 2023Close94.219Aug 17, 2023Close93.156Aug 24, 2023Close93.344Aug 31, 2023Close94.125Sep 8, 2023Close93.344Sep 15, 2023Close93.063Sep 22, 2023Close92.500Sep 29, 2023Close92.125Oct 6, 2023Close91.438Oct 16, 2023Close91.656Oct 23, 2023Close91.125Oct 30, 2023Close91.125Nov 6, 2023Close92.156Nov 13, 2023Close91.969Nov 20, 2023Close93.125Nov 28, 2023Close93.719Dec 5, 2023Close94.500Dec 12, 2023Close94.250Dec 19, 2023Close95.656Dec 27, 2023Close96.406Jan 4, 2024Close95.531Jan 11, 2024Close95.844Jan 19, 2024Close95.094Jan 26, 2024Close95.188Feb 2, 2024Close95.563Feb 9, 2024Close94.844Feb 16, 2024Close94.188Feb 26, 2024Close94.156Mar 4, 2024Close94.563Mar 11, 2024Close95.188Mar 18, 2024Close93.969Mar 25, 2024Close94.563Apr 2, 2024Close94.063Apr 9, 2024Close93.969Apr 16, 2024Close92.563Apr 23, 2024Close92.906Apr 30, 2024Close92.469May 7, 2024Close93.625May 14, 2024Close93.688May 21, 2024Close93.844May 29, 2024Close92.938Jun 5, 2024Close94.438Jun 12, 2024Close94.406Jun 20, 2024Close94.656Jun 27, 2024Close94.500Jul 5, 2024Close94.875Jul 12, 2024Close95.406Jul 19, 2024Close95.156Jul 26, 2024Close95.563Aug 2, 2024Close97.625Aug 9, 2024Close96.813Aug 16, 2024Close96.969Aug 23, 2024Close97.500Aug 30, 2024Close97.156Sep 9, 2024Close98.156Sep 16, 2024Close98.563Sep 23, 2024Close98.156Sep 30, 2024Close97.844Oct 7, 2024Close96.594Oct 15, 2024Close96.656Oct 22, 2024Close96.063Oct 29, 2024Close95.625Nov 5, 2024Close95.438Nov 13, 2024Close94.875Nov 20, 2024Close94.969Nov 27, 2024Close95.563Dec 5, 2024Close95.844Dec 12, 2024Close95.469Dec 19, 2024Close94.469Dec 27, 2024Close94.438Jan 6, 2025Close94.594Jan 13, 2025Close93.844Jan 21, 2025Close94.719Jan 28, 2025Close95.000Feb 4, 2025Close95.063Feb 11, 2025Close94.875Feb 19, 2025Close94.938Feb 26, 2025Close96.063Mar 5, 2025Close96.125Mar 12, 2025Close96.125Mar 19, 2025Close96.344Mar 26, 2025Close96.156Apr 2, 2025Close96.719Apr 9, 2025Close96.344Apr 16, 2025Close97.000Apr 24, 2025Close96.938May 1, 2025Close97.375May 8, 2025Close96.656May 15, 2025Close96.406May 22, 2025Close96.281May 30, 2025Close96.813Jun 6, 2025Close96.219Jun 13, 2025Close96.688Jun 23, 2025Close97.156Jun 30, 2025Close97.594Jul 8, 2025Close96.875Jul 15, 2025Close96.688Jul 22, 2025Close97.313Jul 29, 2025Close97.219Aug 5, 2025Close97.750Aug 12, 2025Close97.563Aug 19, 2025Close97.594Aug 26, 2025Close97.906Sep 3, 2025Close98.094Sep 10, 2025Close98.438Sep 17, 2025Close98.344Sep 24, 2025Close98.031Oct 1, 2025Close98.156Oct 8, 2025Close98.031Oct 16, 2025Close98.688Oct 23, 2025Close98.469Oct 30, 2025Close98.063Nov 6, 2025Close98.188Nov 14, 2025Close98.063Nov 21, 2025Close98.469Dec 1, 2025Close98.313Dec 8, 2025Close98.094Dec 15, 2025Close98.219Dec 22, 2025Close98.281Dec 30, 2025Close98.438Jan 7, 2026Close98.406Jan 14, 2026Close98.313Jan 22, 2026Close97.938Jan 29, 2026Close98.125Feb 5, 2026Close98.344Feb 12, 2026Close98.531Feb 20, 2026Close98.594Feb 27, 2026Close99.000Mar 6, 2026Close98.344Mar 13, 2026Close97.844Mar 20, 2026Close97.344Mar 27, 2026Close97.250Apr 3, 2026Close97.469Apr 10, 2026Close97.688Apr 17, 2026Close98.000Apr 24, 2026Close97.781May 1, 2026Close97.469May 8, 2026Close97.469May 15, 2026Close96.781May 22, 2026Close96.719Jun 1, 2026Close97.000Jun 8, 2026Close96.688Jun 15, 2026Close97.000Jun 23, 2026Close96.719Jun 30, 2026Close96.938Jul 8, 2026Close96.719Jul 15, 2026Close96.906Jul 22, 2026Close96.469Jul 29, 2026Close96.625Aug 5, 2026Close96.781Aug 12, 2026Close96.719Aug 19, 2026Close96.813Aug 26, 2026Close96.719Sep 2, 2026Close96.281Sep 10, 2026Close95.781Sep 17, 2026Close95.563Sep 24, 2026Close94.938Oct 1, 2026Close95.219Oct 8, 2026Close95.313Oct 16, 2026Close95.500Oct 23, 2026Close95.688Oct 30, 2026Close95.969Nov 6, 2026Close96.188Nov 9, 2026Close96.125
The most recent 20 trading days of prices for 91282CFJ5.
DateBidOfferClose
Nov 9, 202696.09496.12596.125
Nov 6, 202696.15696.18896.188
Nov 5, 202696.18896.20396.313
Nov 4, 202695.96996.00096.031
Nov 3, 202695.93895.96995.906
Nov 2, 202696.00096.03195.969
Oct 30, 202695.90695.92295.969
Oct 29, 202695.78195.81395.781
Oct 28, 202695.50095.51695.594
Oct 27, 202695.62595.64195.594
Oct 26, 202695.62595.65695.625
Oct 23, 202695.68895.70395.688
Oct 22, 202695.62595.64195.750
Oct 21, 202695.37595.40695.344
Oct 20, 202695.43895.45395.375
Oct 19, 202695.40695.43895.406
Oct 16, 202695.53195.54795.500
Oct 15, 202695.40695.43895.406
Oct 14, 202695.09495.10995.250
Oct 13, 202695.21995.23495.250

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 91282CFJ5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 25, 2022Aug 31, 2022New issue$37.0bn$41.8bn2.65x3.130%

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.