Treasury note

91282CFU0 · 4.125% due October 31, 2027

Original term
5-Year
Maturity
Oct 31, 2027
Coupon
4.125%
Pays
Semi-Annual
Dated
Oct 31, 2022
First coupon
Apr 30, 2023
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$42.61bn
Held stripped
$1.6m
Share stripped
<0.01%

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
4.422%
Modified duration
0.941 yr
DV01
0.0094
Convexity
0.0135
Dirty price
99.833

Where its rate sensitivity sits

<.01
0.06
0.90
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 0.962 years against a modified duration of 0.941.

Against the fitted curve

Priced 0.4 bp rich to the curve on that day, 0.34 cents per 100 of face.

That is -0.32 standard deviations from its own typical residual.

Yield to maturity, 1,006 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Oct 31, 2022Nov 9, 2026Oct 31, 2022Yield to maturity4.265%Nov 7, 2022Yield to maturity4.386%Nov 15, 2022Yield to maturity3.929%Nov 22, 2022Yield to maturity3.977%Nov 30, 2022Yield to maturity3.864%Dec 7, 2022Yield to maturity3.667%Dec 14, 2022Yield to maturity3.679%Dec 21, 2022Yield to maturity3.825%Dec 29, 2022Yield to maturity3.988%Jan 6, 2023Yield to maturity3.730%Jan 13, 2023Yield to maturity3.643%Jan 23, 2023Yield to maturity3.648%Jan 30, 2023Yield to maturity3.725%Feb 6, 2023Yield to maturity3.861%Feb 13, 2023Yield to maturity3.977%Feb 21, 2023Yield to maturity4.220%Feb 28, 2023Yield to maturity4.251%Mar 7, 2023Yield to maturity4.394%Mar 14, 2023Yield to maturity3.864%Mar 21, 2023Yield to maturity3.818%Mar 28, 2023Yield to maturity3.713%Apr 4, 2023Yield to maturity3.461%Apr 11, 2023Yield to maturity3.606%Apr 18, 2023Yield to maturity3.762%Apr 25, 2023Yield to maturity3.498%May 2, 2023Yield to maturity3.518%May 9, 2023Yield to maturity3.561%May 16, 2023Yield to maturity3.581%May 23, 2023Yield to maturity3.831%May 31, 2023Yield to maturity3.860%Jun 7, 2023Yield to maturity4.038%Jun 14, 2023Yield to maturity4.171%Jun 22, 2023Yield to maturity4.156%Jun 29, 2023Yield to maturity4.267%Jul 7, 2023Yield to maturity4.462%Jul 14, 2023Yield to maturity4.156%Jul 21, 2023Yield to maturity4.221%Jul 28, 2023Yield to maturity4.310%Aug 4, 2023Yield to maturity4.254%Aug 11, 2023Yield to maturity4.411%Aug 18, 2023Yield to maturity4.487%Aug 25, 2023Yield to maturity4.556%Sep 1, 2023Yield to maturity4.415%Sep 11, 2023Yield to maturity4.534%Sep 18, 2023Yield to maturity4.596%Sep 25, 2023Yield to maturity4.718%Oct 2, 2023Yield to maturity4.798%Oct 10, 2023Yield to maturity4.689%Oct 17, 2023Yield to maturity4.936%Oct 24, 2023Yield to maturity4.870%Oct 31, 2023Yield to maturity4.864%Nov 7, 2023Yield to maturity4.611%Nov 14, 2023Yield to maturity4.490%Nov 21, 2023Yield to maturity4.500%Nov 29, 2023Yield to maturity4.317%Dec 6, 2023Yield to maturity4.238%Dec 13, 2023Yield to maturity4.106%Dec 20, 2023Yield to maturity3.983%Dec 28, 2023Yield to maturity3.947%Jan 5, 2024Yield to maturity4.106%Jan 12, 2024Yield to maturity3.900%Jan 22, 2024Yield to maturity4.096%Jan 29, 2024Yield to maturity4.042%Feb 5, 2024Yield to maturity4.215%Feb 12, 2024Yield to maturity4.215%Feb 20, 2024Yield to maturity4.346%Feb 27, 2024Yield to maturity4.440%Mar 5, 2024Yield to maturity4.264%Mar 12, 2024Yield to maturity4.293%Mar 19, 2024Yield to maturity4.436%Mar 26, 2024Yield to maturity4.361%Apr 3, 2024Yield to maturity4.459%Apr 10, 2024Yield to maturity4.753%Apr 17, 2024Yield to maturity4.746%Apr 24, 2024Yield to maturity4.769%May 1, 2024Yield to maturity4.773%May 8, 2024Yield to maturity4.626%May 15, 2024Yield to maturity4.479%May 22, 2024Yield to maturity4.601%May 30, 2024Yield to maturity4.705%Jun 6, 2024Yield to maturity4.444%Jun 13, 2024Yield to maturity4.395%Jun 21, 2024Yield to maturity4.428%Jun 28, 2024Yield to maturity4.491%Jul 8, 2024Yield to maturity4.369%Jul 15, 2024Yield to maturity4.216%Jul 22, 2024Yield to maturity4.278%Jul 29, 2024Yield to maturity4.165%Aug 5, 2024Yield to maturity3.699%Aug 12, 2024Yield to maturity3.832%Aug 19, 2024Yield to maturity3.861%Aug 26, 2024Yield to maturity3.745%Sep 3, 2024Yield to maturity3.732%Sep 10, 2024Yield to maturity3.456%Sep 17, 2024Yield to maturity3.473%Sep 24, 2024Yield to maturity3.459%Oct 1, 2024Yield to maturity3.541%Oct 8, 2024Yield to maturity3.895%Oct 16, 2024Yield to maturity3.850%Oct 23, 2024Yield to maturity4.036%Oct 30, 2024Yield to maturity4.136%Nov 6, 2024Yield to maturity4.237%Nov 14, 2024Yield to maturity4.306%Nov 21, 2024Yield to maturity4.296%Nov 29, 2024Yield to maturity4.101%Dec 6, 2024Yield to maturity4.054%Dec 13, 2024Yield to maturity4.228%Dec 20, 2024Yield to maturity4.311%Dec 30, 2024Yield to maturity4.277%Jan 7, 2025Yield to maturity4.338%Jan 14, 2025Yield to maturity4.436%Jan 22, 2025Yield to maturity4.316%Jan 29, 2025Yield to maturity4.257%Feb 5, 2025Yield to maturity4.184%Feb 12, 2025Yield to maturity4.382%Feb 20, 2025Yield to maturity4.272%Feb 27, 2025Yield to maturity4.061%Mar 6, 2025Yield to maturity3.985%Mar 13, 2025Yield to maturity3.947%Mar 20, 2025Yield to maturity3.946%Mar 27, 2025Yield to maturity4.008%Apr 3, 2025Yield to maturity3.700%Apr 10, 2025Yield to maturity3.865%Apr 17, 2025Yield to maturity3.798%Apr 25, 2025Yield to maturity3.769%May 2, 2025Yield to maturity3.819%May 9, 2025Yield to maturity3.883%May 16, 2025Yield to maturity3.975%May 23, 2025Yield to maturity4.001%Jun 2, 2025Yield to maturity3.931%Jun 9, 2025Yield to maturity3.999%Jun 16, 2025Yield to maturity3.956%Jun 24, 2025Yield to maturity3.786%Jul 1, 2025Yield to maturity3.769%Jul 9, 2025Yield to maturity3.851%Jul 16, 2025Yield to maturity3.878%Jul 23, 2025Yield to maturity3.876%Jul 30, 2025Yield to maturity3.932%Aug 6, 2025Yield to maturity3.681%Aug 13, 2025Yield to maturity3.663%Aug 20, 2025Yield to maturity3.719%Aug 27, 2025Yield to maturity3.640%Sep 4, 2025Yield to maturity3.590%Sep 11, 2025Yield to maturity3.525%Sep 18, 2025Yield to maturity3.566%Sep 25, 2025Yield to maturity3.686%Oct 2, 2025Yield to maturity3.557%Oct 9, 2025Yield to maturity3.599%Oct 17, 2025Yield to maturity3.465%Oct 24, 2025Yield to maturity3.492%Oct 31, 2025Yield to maturity3.600%Nov 7, 2025Yield to maturity3.545%Nov 17, 2025Yield to maturity3.605%Nov 24, 2025Yield to maturity3.499%Dec 2, 2025Yield to maturity3.526%Dec 9, 2025Yield to maturity3.623%Dec 16, 2025Yield to maturity3.496%Dec 23, 2025Yield to maturity3.542%Dec 31, 2025Yield to maturity3.499%Jan 8, 2026Yield to maturity3.493%Jan 15, 2026Yield to maturity3.576%Jan 23, 2026Yield to maturity3.605%Jan 30, 2026Yield to maturity3.525%Feb 6, 2026Yield to maturity3.500%Feb 13, 2026Yield to maturity3.416%Feb 23, 2026Yield to maturity3.466%Mar 2, 2026Yield to maturity3.517%Mar 9, 2026Yield to maturity3.589%Mar 16, 2026Yield to maturity3.702%Mar 23, 2026Yield to maturity3.879%Mar 30, 2026Yield to maturity3.877%Apr 6, 2026Yield to maturity3.874%Apr 13, 2026Yield to maturity3.808%Apr 20, 2026Yield to maturity3.763%Apr 27, 2026Yield to maturity3.823%May 4, 2026Yield to maturity3.950%May 11, 2026Yield to maturity3.925%May 18, 2026Yield to maturity4.034%May 26, 2026Yield to maturity3.987%Jun 2, 2026Yield to maturity4.007%Jun 9, 2026Yield to maturity4.099%Jun 16, 2026Yield to maturity4.027%Jun 24, 2026Yield to maturity4.170%Jul 1, 2026Yield to maturity4.195%Jul 9, 2026Yield to maturity4.146%Jul 16, 2026Yield to maturity4.121%Jul 23, 2026Yield to maturity4.300%Jul 30, 2026Yield to maturity4.172%Aug 6, 2026Yield to maturity4.199%Aug 13, 2026Yield to maturity4.067%Aug 20, 2026Yield to maturity4.094%Aug 27, 2026Yield to maturity4.148%Sep 3, 2026Yield to maturity4.233%Sep 11, 2026Yield to maturity4.466%Sep 18, 2026Yield to maturity4.560%Sep 25, 2026Yield to maturity4.687%Oct 2, 2026Yield to maturity4.606%Oct 9, 2026Yield to maturity4.586%Oct 19, 2026Yield to maturity4.595%Oct 26, 2026Yield to maturity4.572%Nov 2, 2026Yield to maturity4.483%Nov 9, 2026Yield to maturity4.422%

Price history

1,006 trading days to Nov 9, 2026

9698100102104Oct 31, 2022Nov 9, 2026Oct 31, 2022Close99.375Nov 7, 2022Close98.844Nov 15, 2022Close100.875Nov 22, 2022Close100.656Nov 30, 2022Close101.156Dec 7, 2022Close102.031Dec 14, 2022Close101.969Dec 21, 2022Close101.313Dec 29, 2022Close100.594Jan 6, 2023Close101.719Jan 13, 2023Close102.094Jan 23, 2023Close102.063Jan 30, 2023Close101.719Feb 6, 2023Close101.125Feb 13, 2023Close100.625Feb 21, 2023Close99.594Feb 28, 2023Close99.469Mar 7, 2023Close98.875Mar 14, 2023Close101.094Mar 21, 2023Close101.281Mar 28, 2023Close101.719Apr 4, 2023Close102.781Apr 11, 2023Close102.156Apr 18, 2023Close101.500Apr 25, 2023Close102.594May 2, 2023Close102.500May 9, 2023Close102.313May 16, 2023Close102.219May 23, 2023Close101.188May 31, 2023Close101.063Jun 7, 2023Close100.344Jun 14, 2023Close99.813Jun 22, 2023Close99.875Jun 29, 2023Close99.438Jul 7, 2023Close98.688Jul 14, 2023Close99.875Jul 21, 2023Close99.625Jul 28, 2023Close99.281Aug 4, 2023Close99.500Aug 11, 2023Close98.906Aug 18, 2023Close98.625Aug 25, 2023Close98.375Sep 1, 2023Close98.906Sep 11, 2023Close98.469Sep 18, 2023Close98.250Sep 25, 2023Close97.813Oct 2, 2023Close97.531Oct 10, 2023Close97.938Oct 17, 2023Close97.063Oct 24, 2023Close97.313Oct 31, 2023Close97.344Nov 7, 2023Close98.250Nov 14, 2023Close98.688Nov 21, 2023Close98.656Nov 29, 2023Close99.313Dec 6, 2023Close99.594Dec 13, 2023Close100.063Dec 20, 2023Close100.500Dec 28, 2023Close100.625Jan 5, 2024Close100.063Jan 12, 2024Close100.781Jan 22, 2024Close100.094Jan 29, 2024Close100.281Feb 5, 2024Close99.688Feb 12, 2024Close99.688Feb 20, 2024Close99.250Feb 27, 2024Close98.938Mar 5, 2024Close99.531Mar 12, 2024Close99.438Mar 19, 2024Close98.969Mar 26, 2024Close99.219Apr 3, 2024Close98.906Apr 10, 2024Close97.969Apr 17, 2024Close98.000Apr 24, 2024Close97.938May 1, 2024Close97.938May 8, 2024Close98.406May 15, 2024Close98.875May 22, 2024Close98.500May 30, 2024Close98.188Jun 6, 2024Close99.000Jun 13, 2024Close99.156Jun 21, 2024Close99.063Jun 28, 2024Close98.875Jul 8, 2024Close99.250Jul 15, 2024Close99.719Jul 22, 2024Close99.531Jul 29, 2024Close99.875Aug 5, 2024Close101.281Aug 12, 2024Close100.875Aug 19, 2024Close100.781Aug 26, 2024Close101.125Sep 3, 2024Close101.156Sep 10, 2024Close101.969Sep 17, 2024Close101.906Sep 24, 2024Close101.938Oct 1, 2024Close101.688Oct 8, 2024Close100.656Oct 16, 2024Close100.781Oct 23, 2024Close100.250Oct 30, 2024Close99.969Nov 6, 2024Close99.688Nov 14, 2024Close99.500Nov 21, 2024Close99.531Nov 29, 2024Close100.063Dec 6, 2024Close100.188Dec 13, 2024Close99.719Dec 20, 2024Close99.500Dec 30, 2024Close99.594Jan 7, 2025Close99.438Jan 14, 2025Close99.188Jan 22, 2025Close99.500Jan 29, 2025Close99.656Feb 5, 2025Close99.844Feb 12, 2025Close99.344Feb 20, 2025Close99.625Feb 27, 2025Close100.156Mar 6, 2025Close100.344Mar 13, 2025Close100.438Mar 20, 2025Close100.438Mar 27, 2025Close100.281Apr 3, 2025Close101.031Apr 10, 2025Close100.625Apr 17, 2025Close100.781Apr 25, 2025Close100.844May 2, 2025Close100.719May 9, 2025Close100.563May 16, 2025Close100.344May 23, 2025Close100.281Jun 2, 2025Close100.438Jun 9, 2025Close100.281Jun 16, 2025Close100.375Jun 24, 2025Close100.750Jul 1, 2025Close100.781Jul 9, 2025Close100.594Jul 16, 2025Close100.531Jul 23, 2025Close100.531Jul 30, 2025Close100.406Aug 6, 2025Close100.938Aug 13, 2025Close100.969Aug 20, 2025Close100.844Aug 27, 2025Close101.000Sep 4, 2025Close101.094Sep 11, 2025Close101.219Sep 18, 2025Close101.125Sep 25, 2025Close100.875Oct 2, 2025Close101.125Oct 9, 2025Close101.031Oct 17, 2025Close101.281Oct 24, 2025Close101.219Oct 31, 2025Close101.000Nov 7, 2025Close101.094Nov 17, 2025Close100.969Nov 24, 2025Close101.156Dec 2, 2025Close101.094Dec 9, 2025Close100.906Dec 16, 2025Close101.125Dec 23, 2025Close101.031Dec 31, 2025Close101.094Jan 8, 2026Close101.094Jan 15, 2026Close100.938Jan 23, 2026Close100.875Jan 30, 2026Close101.000Feb 6, 2026Close101.031Feb 13, 2026Close101.156Feb 23, 2026Close101.063Mar 2, 2026Close100.969Mar 9, 2026Close100.844Mar 16, 2026Close100.656Mar 23, 2026Close100.375Mar 30, 2026Close100.375Apr 6, 2026Close100.375Apr 13, 2026Close100.469Apr 20, 2026Close100.531Apr 27, 2026Close100.438May 4, 2026Close100.250May 11, 2026Close100.281May 18, 2026Close100.125May 26, 2026Close100.188Jun 2, 2026Close100.156Jun 9, 2026Close100.031Jun 16, 2026Close100.125Jun 24, 2026Close99.938Jul 1, 2026Close99.906Jul 9, 2026Close99.969Jul 16, 2026Close100.000Jul 23, 2026Close99.781Jul 30, 2026Close99.938Aug 6, 2026Close99.906Aug 13, 2026Close100.063Aug 20, 2026Close100.031Aug 27, 2026Close99.969Sep 3, 2026Close99.875Sep 11, 2026Close99.625Sep 18, 2026Close99.531Sep 25, 2026Close99.406Oct 2, 2026Close99.500Oct 9, 2026Close99.531Oct 19, 2026Close99.531Oct 26, 2026Close99.563Nov 2, 2026Close99.656Nov 9, 2026Close99.719
The most recent 20 trading days of prices for 91282CFU0.
DateBidOfferClose
Nov 9, 202699.71999.73499.719
Nov 6, 202699.71999.75099.750
Nov 5, 202699.71999.73499.781
Nov 4, 202699.65699.67299.656
Nov 3, 202699.65699.67299.656
Nov 2, 202699.65699.67299.656
Oct 30, 202699.65699.67299.688
Oct 29, 202699.62599.64199.625
Oct 28, 202699.53199.56399.594
Oct 27, 202699.56399.57899.563
Oct 26, 202699.56399.57899.563
Oct 23, 202699.59499.60999.594
Oct 22, 202699.59499.60999.625
Oct 21, 202699.53199.54799.500
Oct 20, 202699.53199.54799.500
Oct 19, 202699.53199.54799.531
Oct 16, 202699.56399.57899.563
Oct 15, 202699.53199.54799.531
Oct 14, 202699.43899.45399.469
Oct 13, 202699.50099.53199.500

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 91282CFU0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 26, 2022Oct 31, 2022New issue$43.0bn$43.0bn2.48x4.192%

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.