Treasury note

91282CFY2 · 3.875% due November 30, 2029

Original term
7-Year
Maturity
Nov 30, 2029
Coupon
3.875%
Pays
Semi-Annual
Dated
Nov 30, 2022
First coupon
May 31, 2023
Priced through
Sep 30, 2026
Analyzed through
Sep 30, 2026

Statement of August 31, 2026

Amount outstanding
$38.16bn
Held stripped
$104.0m
Share stripped
0.27%

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 30, 2026

Yield to maturity
5.018%
Modified duration
2.894 yr
DV01
0.0284
Convexity
0.102
Dirty price
97.990

Where its rate sensitivity sits

<.01
0.01
0.03
0.07
2.62
0.23
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 6 of twelve buckets, summing to 2.966 years against a modified duration of 2.894.

Against the fitted curve

Priced 1.2 bp rich to the curve on that day, 3.34 cents per 100 of face.

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

Yield to maturity, 961 observations

3.00%3.50%4.00%4.50%5.00%5.50%Nov 30, 2022Sep 30, 2026Nov 30, 2022Yield to maturity3.762%Dec 7, 2022Yield to maturity3.544%Dec 14, 2022Yield to maturity3.588%Dec 21, 2022Yield to maturity3.771%Dec 29, 2022Yield to maturity3.932%Jan 6, 2023Yield to maturity3.647%Jan 13, 2023Yield to maturity3.569%Jan 23, 2023Yield to maturity3.579%Jan 30, 2023Yield to maturity3.640%Feb 6, 2023Yield to maturity3.748%Feb 13, 2023Yield to maturity3.858%Feb 21, 2023Yield to maturity4.109%Feb 28, 2023Yield to maturity4.099%Mar 7, 2023Yield to maturity4.202%Mar 14, 2023Yield to maturity3.763%Mar 21, 2023Yield to maturity3.715%Mar 28, 2023Yield to maturity3.625%Apr 4, 2023Yield to maturity3.409%Apr 11, 2023Yield to maturity3.518%Apr 18, 2023Yield to maturity3.660%Apr 25, 2023Yield to maturity3.448%May 2, 2023Yield to maturity3.473%May 9, 2023Yield to maturity3.541%May 16, 2023Yield to maturity3.556%May 23, 2023Yield to maturity3.760%May 31, 2023Yield to maturity3.738%Jun 7, 2023Yield to maturity3.919%Jun 14, 2023Yield to maturity4.002%Jun 22, 2023Yield to maturity3.975%Jun 29, 2023Yield to maturity4.059%Jul 7, 2023Yield to maturity4.281%Jul 14, 2023Yield to maturity3.992%Jul 21, 2023Yield to maturity4.026%Jul 28, 2023Yield to maturity4.146%Aug 4, 2023Yield to maturity4.152%Aug 11, 2023Yield to maturity4.303%Aug 18, 2023Yield to maturity4.386%Aug 25, 2023Yield to maturity4.422%Sep 1, 2023Yield to maturity4.307%Sep 11, 2023Yield to maturity4.414%Sep 18, 2023Yield to maturity4.463%Sep 25, 2023Yield to maturity4.650%Oct 2, 2023Yield to maturity4.767%Oct 10, 2023Yield to maturity4.697%Oct 17, 2023Yield to maturity4.914%Oct 24, 2023Yield to maturity4.892%Oct 31, 2023Yield to maturity4.914%Nov 7, 2023Yield to maturity4.609%Nov 14, 2023Yield to maturity4.483%Nov 21, 2023Yield to maturity4.473%Nov 29, 2023Yield to maturity4.305%Dec 6, 2023Yield to maturity4.179%Dec 13, 2023Yield to maturity4.059%Dec 20, 2023Yield to maturity3.910%Dec 28, 2023Yield to maturity3.886%Jan 5, 2024Yield to maturity4.061%Jan 12, 2024Yield to maturity3.904%Jan 22, 2024Yield to maturity4.068%Jan 29, 2024Yield to maturity4.020%Feb 5, 2024Yield to maturity4.161%Feb 12, 2024Yield to maturity4.168%Feb 20, 2024Yield to maturity4.281%Feb 27, 2024Yield to maturity4.345%Mar 5, 2024Yield to maturity4.158%Mar 12, 2024Yield to maturity4.184%Mar 19, 2024Yield to maturity4.330%Mar 26, 2024Yield to maturity4.256%Apr 2, 2024Yield to maturity4.371%Apr 9, 2024Yield to maturity4.392%Apr 16, 2024Yield to maturity4.705%Apr 23, 2024Yield to maturity4.636%Apr 30, 2024Yield to maturity4.737%May 7, 2024Yield to maturity4.490%May 14, 2024Yield to maturity4.479%May 21, 2024Yield to maturity4.442%May 29, 2024Yield to maturity4.655%Jun 5, 2024Yield to maturity4.321%Jun 12, 2024Yield to maturity4.335%Jun 20, 2024Yield to maturity4.277%Jun 27, 2024Yield to maturity4.318%Jul 5, 2024Yield to maturity4.241%Jul 12, 2024Yield to maturity4.123%Jul 19, 2024Yield to maturity4.183%Jul 26, 2024Yield to maturity4.098%Aug 2, 2024Yield to maturity3.640%Aug 9, 2024Yield to maturity3.828%Aug 16, 2024Yield to maturity3.795%Aug 23, 2024Yield to maturity3.677%Aug 30, 2024Yield to maturity3.761%Sep 9, 2024Yield to maturity3.537%Sep 16, 2024Yield to maturity3.457%Sep 23, 2024Yield to maturity3.548%Sep 30, 2024Yield to maturity3.613%Oct 7, 2024Yield to maturity3.888%Oct 15, 2024Yield to maturity3.881%Oct 22, 2024Yield to maturity4.025%Oct 29, 2024Yield to maturity4.129%Nov 5, 2024Yield to maturity4.185%Nov 13, 2024Yield to maturity4.320%Nov 20, 2024Yield to maturity4.301%Nov 27, 2024Yield to maturity4.154%Dec 5, 2024Yield to maturity4.099%Dec 12, 2024Yield to maturity4.199%Dec 19, 2024Yield to maturity4.443%Dec 27, 2024Yield to maturity4.460%Jan 6, 2025Yield to maturity4.426%Jan 13, 2025Yield to maturity4.619%Jan 21, 2025Yield to maturity4.408%Jan 28, 2025Yield to maturity4.352%Feb 4, 2025Yield to maturity4.331%Feb 11, 2025Yield to maturity4.384%Feb 19, 2025Yield to maturity4.379%Feb 26, 2025Yield to maturity4.093%Mar 5, 2025Yield to maturity4.086%Mar 12, 2025Yield to maturity4.087%Mar 19, 2025Yield to maturity4.036%Mar 26, 2025Yield to maturity4.089%Apr 2, 2025Yield to maturity3.948%Apr 9, 2025Yield to maturity4.053%Apr 16, 2025Yield to maturity3.897%Apr 23, 2025Yield to maturity4.002%Apr 30, 2025Yield to maturity3.710%May 7, 2025Yield to maturity3.852%May 14, 2025Yield to maturity4.156%May 21, 2025Yield to maturity4.127%May 29, 2025Yield to maturity3.997%Jun 5, 2025Yield to maturity3.990%Jun 12, 2025Yield to maturity3.952%Jun 20, 2025Yield to maturity3.944%Jun 27, 2025Yield to maturity3.805%Jul 7, 2025Yield to maturity3.937%Jul 14, 2025Yield to maturity3.960%Jul 21, 2025Yield to maturity3.882%Jul 28, 2025Yield to maturity3.945%Aug 4, 2025Yield to maturity3.716%Aug 11, 2025Yield to maturity3.802%Aug 18, 2025Yield to maturity3.818%Aug 25, 2025Yield to maturity3.762%Sep 2, 2025Yield to maturity3.705%Sep 9, 2025Yield to maturity3.576%Sep 16, 2025Yield to maturity3.567%Sep 23, 2025Yield to maturity3.647%Sep 30, 2025Yield to maturity3.702%Oct 7, 2025Yield to maturity3.677%Oct 15, 2025Yield to maturity3.586%Oct 22, 2025Yield to maturity3.520%Oct 29, 2025Yield to maturity3.667%Nov 5, 2025Yield to maturity3.724%Nov 13, 2025Yield to maturity3.665%Nov 20, 2025Yield to maturity3.622%Nov 28, 2025Yield to maturity3.562%Dec 5, 2025Yield to maturity3.662%Dec 12, 2025Yield to maturity3.686%Dec 19, 2025Yield to maturity3.626%Dec 29, 2025Yield to maturity3.598%Jan 6, 2026Yield to maturity3.623%Jan 13, 2026Yield to maturity3.665%Jan 21, 2026Yield to maturity3.742%Jan 28, 2026Yield to maturity3.750%Feb 4, 2026Yield to maturity3.741%Feb 11, 2026Yield to maturity3.660%Feb 19, 2026Yield to maturity3.570%Feb 26, 2026Yield to maturity3.516%Mar 5, 2026Yield to maturity3.657%Mar 12, 2026Yield to maturity3.828%Mar 19, 2026Yield to maturity3.846%Mar 26, 2026Yield to maturity4.058%Apr 2, 2026Yield to maturity3.874%Apr 9, 2026Yield to maturity3.855%Apr 16, 2026Yield to maturity3.846%Apr 23, 2026Yield to maturity3.893%Apr 30, 2026Yield to maturity3.950%May 7, 2026Yield to maturity3.988%May 14, 2026Yield to maturity4.075%May 21, 2026Yield to maturity4.183%May 29, 2026Yield to maturity4.088%Jun 5, 2026Yield to maturity4.255%Jun 12, 2026Yield to maturity4.168%Jun 22, 2026Yield to maturity4.269%Jun 29, 2026Yield to maturity4.122%Jul 7, 2026Yield to maturity4.233%Jul 14, 2026Yield to maturity4.255%Jul 21, 2026Yield to maturity4.328%Jul 28, 2026Yield to maturity4.320%Aug 4, 2026Yield to maturity4.271%Aug 11, 2026Yield to maturity4.325%Aug 18, 2026Yield to maturity4.286%Aug 25, 2026Yield to maturity4.288%Sep 1, 2026Yield to maturity4.480%Sep 9, 2026Yield to maturity4.537%Sep 16, 2026Yield to maturity4.832%Sep 23, 2026Yield to maturity4.990%Sep 30, 2026Yield to maturity5.018%

Price history

961 trading days to Sep 30, 2026

949698100102104Nov 30, 2022Sep 30, 2026Nov 30, 2022Close100.688Dec 7, 2022Close102.031Dec 14, 2022Close101.750Dec 21, 2022Close100.625Dec 29, 2022Close99.656Jan 6, 2023Close101.375Jan 13, 2023Close101.844Jan 23, 2023Close101.781Jan 30, 2023Close101.406Feb 6, 2023Close100.750Feb 13, 2023Close100.094Feb 21, 2023Close98.625Feb 28, 2023Close98.688Mar 7, 2023Close98.094Mar 14, 2023Close100.656Mar 21, 2023Close100.938Mar 28, 2023Close101.469Apr 4, 2023Close102.750Apr 11, 2023Close102.094Apr 18, 2023Close101.250Apr 25, 2023Close102.500May 2, 2023Close102.344May 9, 2023Close101.938May 16, 2023Close101.844May 23, 2023Close100.656May 31, 2023Close100.781Jun 7, 2023Close99.750Jun 14, 2023Close99.281Jun 22, 2023Close99.438Jun 29, 2023Close98.969Jul 7, 2023Close97.750Jul 14, 2023Close99.344Jul 21, 2023Close99.156Jul 28, 2023Close98.500Aug 4, 2023Close98.469Aug 11, 2023Close97.656Aug 18, 2023Close97.219Aug 25, 2023Close97.031Sep 1, 2023Close97.656Sep 11, 2023Close97.094Sep 18, 2023Close96.844Sep 25, 2023Close95.875Oct 2, 2023Close95.281Oct 10, 2023Close95.656Oct 17, 2023Close94.563Oct 24, 2023Close94.688Oct 31, 2023Close94.594Nov 7, 2023Close96.156Nov 14, 2023Close96.813Nov 21, 2023Close96.875Nov 29, 2023Close97.750Dec 6, 2023Close98.406Dec 13, 2023Close99.031Dec 20, 2023Close99.813Dec 28, 2023Close99.938Jan 5, 2024Close99.031Jan 12, 2024Close99.844Jan 22, 2024Close99.000Jan 29, 2024Close99.250Feb 5, 2024Close98.531Feb 12, 2024Close98.500Feb 20, 2024Close97.938Feb 27, 2024Close97.625Mar 5, 2024Close98.563Mar 12, 2024Close98.438Mar 19, 2024Close97.719Mar 26, 2024Close98.094Apr 2, 2024Close97.531Apr 9, 2024Close97.438Apr 16, 2024Close95.938Apr 23, 2024Close96.281Apr 30, 2024Close95.813May 7, 2024Close97.000May 14, 2024Close97.063May 21, 2024Close97.250May 29, 2024Close96.250Jun 5, 2024Close97.844Jun 12, 2024Close97.781Jun 20, 2024Close98.063Jun 27, 2024Close97.875Jul 5, 2024Close98.250Jul 12, 2024Close98.813Jul 19, 2024Close98.531Jul 26, 2024Close98.938Aug 2, 2024Close101.125Aug 9, 2024Close100.219Aug 16, 2024Close100.375Aug 23, 2024Close100.938Aug 30, 2024Close100.531Sep 9, 2024Close101.594Sep 16, 2024Close101.969Sep 23, 2024Close101.531Sep 30, 2024Close101.219Oct 7, 2024Close99.938Oct 15, 2024Close99.969Oct 22, 2024Close99.313Oct 29, 2024Close98.844Nov 5, 2024Close98.594Nov 13, 2024Close98.000Nov 20, 2024Close98.094Nov 27, 2024Close98.750Dec 5, 2024Close99.000Dec 12, 2024Close98.563Dec 19, 2024Close97.500Dec 27, 2024Close97.438Jan 6, 2025Close97.594Jan 13, 2025Close96.781Jan 21, 2025Close97.688Jan 28, 2025Close97.938Feb 4, 2025Close98.031Feb 11, 2025Close97.813Feb 19, 2025Close97.844Feb 26, 2025Close99.063Mar 5, 2025Close99.094Mar 12, 2025Close99.094Mar 19, 2025Close99.313Mar 26, 2025Close99.094Apr 2, 2025Close99.688Apr 9, 2025Close99.250Apr 16, 2025Close99.906Apr 23, 2025Close99.469Apr 30, 2025Close100.688May 7, 2025Close100.094May 14, 2025Close98.844May 21, 2025Close98.969May 29, 2025Close99.500Jun 5, 2025Close99.531Jun 12, 2025Close99.688Jun 20, 2025Close99.719Jun 27, 2025Close100.281Jul 7, 2025Close99.750Jul 14, 2025Close99.656Jul 21, 2025Close99.969Jul 28, 2025Close99.719Aug 4, 2025Close100.625Aug 11, 2025Close100.281Aug 18, 2025Close100.219Aug 25, 2025Close100.438Sep 2, 2025Close100.656Sep 9, 2025Close101.156Sep 16, 2025Close101.188Sep 23, 2025Close100.875Sep 30, 2025Close100.656Oct 7, 2025Close100.750Oct 15, 2025Close101.094Oct 22, 2025Close101.344Oct 29, 2025Close100.781Nov 5, 2025Close100.563Nov 13, 2025Close100.781Nov 20, 2025Close100.938Nov 28, 2025Close101.156Dec 5, 2025Close100.781Dec 12, 2025Close100.688Dec 19, 2025Close100.906Dec 29, 2025Close101.000Jan 6, 2026Close100.906Jan 13, 2026Close100.750Jan 21, 2026Close100.469Jan 28, 2026Close100.438Feb 4, 2026Close100.469Feb 11, 2026Close100.750Feb 19, 2026Close101.063Feb 26, 2026Close101.250Mar 5, 2026Close100.750Mar 12, 2026Close100.156Mar 19, 2026Close100.094Mar 26, 2026Close99.375Apr 2, 2026Close100.000Apr 9, 2026Close100.063Apr 16, 2026Close100.094Apr 23, 2026Close99.938Apr 30, 2026Close99.750May 7, 2026Close99.625May 14, 2026Close99.344May 21, 2026Close99.000May 29, 2026Close99.313Jun 5, 2026Close98.781Jun 12, 2026Close99.063Jun 22, 2026Close98.750Jun 29, 2026Close99.219Jul 7, 2026Close98.875Jul 14, 2026Close98.813Jul 21, 2026Close98.594Jul 28, 2026Close98.625Aug 4, 2026Close98.781Aug 11, 2026Close98.625Aug 18, 2026Close98.750Aug 25, 2026Close98.750Sep 1, 2026Close98.188Sep 9, 2026Close98.031Sep 16, 2026Close97.188Sep 23, 2026Close96.750Sep 30, 2026Close96.688
The most recent 20 trading days of prices for 91282CFY2.
DateBidOfferClose
Sep 30, 202696.76696.75096.688
Sep 29, 202696.57896.56396.719
Sep 28, 202696.62596.59496.625
Sep 25, 202696.78196.75096.875
Sep 24, 202696.73496.71996.688
Sep 23, 202696.89196.87596.750
Sep 22, 202697.23497.21997.219
Sep 21, 202697.25097.21997.219
Sep 18, 202697.18897.15697.156
Sep 17, 202697.39197.37597.375
Sep 16, 202697.50097.46997.188
Sep 15, 202697.39197.37597.313
Sep 14, 202697.46997.43897.406
Sep 11, 202697.54797.53197.469
Sep 10, 202697.73497.71997.594
Sep 9, 202698.04798.03198.031
Sep 8, 202698.17298.15698.156
Sep 4, 202698.23498.21998.188
Sep 3, 202698.35998.34498.313
Sep 2, 202698.18898.15698.188

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 91282CFY2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 22, 2022Nov 30, 2022New issue$35.0bn$38.8bn2.33x3.890%

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.