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
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$38.16bn
Held stripped
$115.2m
Share stripped
0.30%

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
4.617%
Modified duration
2.794 yr
DV01
0.0278
Convexity
0.0955
Dirty price
99.632

Where its rate sensitivity sits

<.01
0.01
0.03
0.07
2.67
0.07
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 2.858 years against a modified duration of 2.794.

Against the fitted curve

Priced 2.1 bp rich to the curve on that day, 5.78 cents per 100 of face.

That is -1.47 standard deviations from its own typical residual.

Yield to maturity, 986 observations

3.0%3.5%4.0%4.5%5.0%5.5%Nov 30, 2022Nov 9, 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 3, 2024Yield to maturity4.359%Apr 10, 2024Yield to maturity4.618%Apr 17, 2024Yield to maturity4.634%Apr 24, 2024Yield to maturity4.675%May 1, 2024Yield to maturity4.658%May 8, 2024Yield to maturity4.516%May 15, 2024Yield to maturity4.368%May 22, 2024Yield to maturity4.475%May 30, 2024Yield to maturity4.589%Jun 6, 2024Yield to maturity4.308%Jun 13, 2024Yield to maturity4.250%Jun 21, 2024Yield to maturity4.278%Jun 28, 2024Yield to maturity4.358%Jul 8, 2024Yield to maturity4.247%Jul 15, 2024Yield to maturity4.156%Jul 22, 2024Yield to maturity4.190%Jul 29, 2024Yield to maturity4.078%Aug 5, 2024Yield to maturity3.646%Aug 12, 2024Yield to maturity3.776%Aug 19, 2024Yield to maturity3.775%Aug 26, 2024Yield to maturity3.690%Sep 3, 2024Yield to maturity3.695%Sep 10, 2024Yield to maturity3.472%Sep 17, 2024Yield to maturity3.483%Sep 24, 2024Yield to maturity3.515%Oct 1, 2024Yield to maturity3.540%Oct 8, 2024Yield to maturity3.894%Oct 16, 2024Yield to maturity3.867%Oct 23, 2024Yield to maturity4.073%Oct 30, 2024Yield to maturity4.164%Nov 6, 2024Yield to maturity4.304%Nov 14, 2024Yield to maturity4.342%Nov 21, 2024Yield to maturity4.322%Nov 29, 2024Yield to maturity4.084%Dec 6, 2024Yield to maturity4.064%Dec 13, 2024Yield to maturity4.277%Dec 20, 2024Yield to maturity4.386%Dec 30, 2024Yield to maturity4.374%Jan 7, 2025Yield to maturity4.463%Jan 14, 2025Yield to maturity4.597%Jan 22, 2025Yield to maturity4.438%Jan 29, 2025Yield to maturity4.366%Feb 5, 2025Yield to maturity4.258%Feb 12, 2025Yield to maturity4.496%Feb 20, 2025Yield to maturity4.357%Feb 27, 2025Yield to maturity4.108%Mar 6, 2025Yield to maturity4.079%Mar 13, 2025Yield to maturity4.035%Mar 20, 2025Yield to maturity4.014%Mar 27, 2025Yield to maturity4.096%Apr 3, 2025Yield to maturity3.741%Apr 10, 2025Yield to maturity4.031%Apr 17, 2025Yield to maturity3.941%Apr 25, 2025Yield to maturity3.874%May 2, 2025Yield to maturity3.905%May 9, 2025Yield to maturity3.981%May 16, 2025Yield to maturity4.050%May 23, 2025Yield to maturity4.074%Jun 2, 2025Yield to maturity3.998%Jun 9, 2025Yield to maturity4.083%Jun 16, 2025Yield to maturity4.022%Jun 24, 2025Yield to maturity3.836%Jul 1, 2025Yield to maturity3.820%Jul 9, 2025Yield to maturity3.898%Jul 16, 2025Yield to maturity3.961%Jul 23, 2025Yield to maturity3.913%Jul 30, 2025Yield to maturity3.937%Aug 6, 2025Yield to maturity3.732%Aug 13, 2025Yield to maturity3.739%Aug 20, 2025Yield to maturity3.778%Aug 27, 2025Yield to maturity3.674%Sep 4, 2025Yield to maturity3.617%Sep 11, 2025Yield to maturity3.552%Sep 18, 2025Yield to maturity3.631%Sep 25, 2025Yield to maturity3.735%Oct 2, 2025Yield to maturity3.637%Oct 9, 2025Yield to maturity3.702%Oct 17, 2025Yield to maturity3.553%Oct 24, 2025Yield to maturity3.568%Oct 31, 2025Yield to maturity3.666%Nov 7, 2025Yield to maturity3.632%Nov 17, 2025Yield to maturity3.681%Nov 24, 2025Yield to maturity3.563%Dec 2, 2025Yield to maturity3.604%Dec 9, 2025Yield to maturity3.721%Dec 16, 2025Yield to maturity3.618%Dec 23, 2025Yield to maturity3.668%Dec 31, 2025Yield to maturity3.641%Jan 8, 2026Yield to maturity3.648%Jan 15, 2026Yield to maturity3.691%Jan 23, 2026Yield to maturity3.751%Jan 30, 2026Yield to maturity3.697%Feb 6, 2026Yield to maturity3.661%Feb 13, 2026Yield to maturity3.527%Feb 23, 2026Yield to maturity3.507%Mar 2, 2026Yield to maturity3.550%Mar 9, 2026Yield to maturity3.639%Mar 16, 2026Yield to maturity3.746%Mar 23, 2026Yield to maturity3.910%Mar 30, 2026Yield to maturity3.911%Apr 6, 2026Yield to maturity3.929%Apr 13, 2026Yield to maturity3.846%Apr 20, 2026Yield to maturity3.781%Apr 27, 2026Yield to maturity3.874%May 4, 2026Yield to maturity4.026%May 11, 2026Yield to maturity4.017%May 18, 2026Yield to maturity4.201%May 26, 2026Yield to maturity4.136%Jun 2, 2026Yield to maturity4.127%Jun 9, 2026Yield to maturity4.217%Jun 16, 2026Yield to maturity4.110%Jun 24, 2026Yield to maturity4.170%Jul 1, 2026Yield to maturity4.212%Jul 9, 2026Yield to maturity4.224%Jul 16, 2026Yield to maturity4.225%Jul 23, 2026Yield to maturity4.421%Jul 30, 2026Yield to maturity4.321%Aug 6, 2026Yield to maturity4.344%Aug 13, 2026Yield to maturity4.243%Aug 20, 2026Yield to maturity4.297%Aug 27, 2026Yield to maturity4.320%Sep 3, 2026Yield to maturity4.439%Sep 11, 2026Yield to maturity4.732%Sep 18, 2026Yield to maturity4.846%Sep 25, 2026Yield to maturity4.950%Oct 2, 2026Yield to maturity4.989%Oct 9, 2026Yield to maturity4.941%Oct 19, 2026Yield to maturity4.881%Oct 26, 2026Yield to maturity4.797%Nov 2, 2026Yield to maturity4.668%Nov 9, 2026Yield to maturity4.617%

Price history

986 trading days to Nov 9, 2026

949698100102104Nov 30, 2022Nov 9, 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 3, 2024Close97.594Apr 10, 2024Close96.344Apr 17, 2024Close96.281Apr 24, 2024Close96.094May 1, 2024Close96.188May 8, 2024Close96.875May 15, 2024Close97.594May 22, 2024Close97.094May 30, 2024Close96.563Jun 6, 2024Close97.906Jun 13, 2024Close98.188Jun 21, 2024Close98.063Jun 28, 2024Close97.688Jul 8, 2024Close98.219Jul 15, 2024Close98.656Jul 22, 2024Close98.500Jul 29, 2024Close99.031Aug 5, 2024Close101.094Aug 12, 2024Close100.469Aug 19, 2024Close100.469Aug 26, 2024Close100.875Sep 3, 2024Close100.844Sep 10, 2024Close101.906Sep 17, 2024Close101.844Sep 24, 2024Close101.688Oct 1, 2024Close101.563Oct 8, 2024Close99.906Oct 16, 2024Close100.031Oct 23, 2024Close99.094Oct 30, 2024Close98.688Nov 6, 2024Close98.063Nov 14, 2024Close97.906Nov 21, 2024Close98.000Nov 29, 2024Close99.063Dec 6, 2024Close99.156Dec 13, 2024Close98.219Dec 20, 2024Close97.750Dec 30, 2024Close97.813Jan 7, 2025Close97.438Jan 14, 2025Close96.875Jan 22, 2025Close97.563Jan 29, 2025Close97.875Feb 5, 2025Close98.344Feb 12, 2025Close97.344Feb 20, 2025Close97.938Feb 27, 2025Close99.000Mar 6, 2025Close99.125Mar 13, 2025Close99.313Mar 20, 2025Close99.406Mar 27, 2025Close99.063Apr 3, 2025Close100.563Apr 10, 2025Close99.344Apr 17, 2025Close99.719Apr 25, 2025Close100.000May 2, 2025Close99.875May 9, 2025Close99.563May 16, 2025Close99.281May 23, 2025Close99.188Jun 2, 2025Close99.500Jun 9, 2025Close99.156Jun 16, 2025Close99.406Jun 24, 2025Close100.156Jul 1, 2025Close100.219Jul 9, 2025Close99.906Jul 16, 2025Close99.656Jul 23, 2025Close99.844Jul 30, 2025Close99.750Aug 6, 2025Close100.563Aug 13, 2025Close100.531Aug 20, 2025Close100.375Aug 27, 2025Close100.781Sep 4, 2025Close101.000Sep 11, 2025Close101.250Sep 18, 2025Close100.938Sep 25, 2025Close100.531Oct 2, 2025Close100.906Oct 9, 2025Close100.656Oct 17, 2025Close101.219Oct 24, 2025Close101.156Oct 31, 2025Close100.781Nov 7, 2025Close100.906Nov 17, 2025Close100.719Nov 24, 2025Close101.156Dec 2, 2025Close101.000Dec 9, 2025Close100.563Dec 16, 2025Close100.938Dec 23, 2025Close100.750Dec 31, 2025Close100.844Jan 8, 2026Close100.813Jan 15, 2026Close100.656Jan 23, 2026Close100.438Jan 30, 2026Close100.625Feb 6, 2026Close100.750Feb 13, 2026Close101.219Feb 23, 2026Close101.281Mar 2, 2026Close101.125Mar 9, 2026Close100.813Mar 16, 2026Close100.438Mar 23, 2026Close99.875Mar 30, 2026Close99.875Apr 6, 2026Close99.813Apr 13, 2026Close100.094Apr 20, 2026Close100.313Apr 27, 2026Close100.000May 4, 2026Close99.500May 11, 2026Close99.531May 18, 2026Close98.938May 26, 2026Close99.156Jun 2, 2026Close99.188Jun 9, 2026Close98.906Jun 16, 2026Close99.250Jun 24, 2026Close99.063Jul 1, 2026Close98.938Jul 9, 2026Close98.906Jul 16, 2026Close98.906Jul 23, 2026Close98.313Jul 30, 2026Close98.625Aug 6, 2026Close98.563Aug 13, 2026Close98.875Aug 20, 2026Close98.719Aug 27, 2026Close98.656Sep 3, 2026Close98.313Sep 11, 2026Close97.469Sep 18, 2026Close97.156Sep 25, 2026Close96.875Oct 2, 2026Close96.781Oct 9, 2026Close96.938Oct 19, 2026Close97.125Oct 26, 2026Close97.375Nov 2, 2026Close97.750Nov 9, 2026Close97.906
The most recent 20 trading days of prices for 91282CFY2.
DateBidOfferClose
Nov 9, 202697.87597.89197.906
Nov 6, 202697.93897.96997.969
Nov 5, 202697.96997.98498.094
Nov 4, 202697.75097.76697.813
Nov 3, 202697.68897.71997.688
Nov 2, 202697.78197.79797.750
Oct 30, 202697.65697.67297.750
Oct 29, 202697.53197.56397.531
Oct 28, 202697.21997.25097.313
Oct 27, 202697.37597.39197.313
Oct 26, 202697.40697.42297.375
Oct 23, 202697.43897.45397.469
Oct 22, 202697.37597.40697.531
Oct 21, 202697.12597.14197.063
Oct 20, 202697.18897.20397.125
Oct 19, 202697.15697.17297.125
Oct 16, 202697.25097.28197.250
Oct 15, 202697.12597.15697.156
Oct 14, 202696.78196.79796.969
Oct 13, 202696.93896.95396.969

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 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.