Treasury note

91282CGB1 · 3.875% due December 31, 2029

Original term
7-Year
Maturity
Dec 31, 2029
Coupon
3.875%
Pays
Semi-Annual
Dated
Dec 31, 2022
First coupon
Jun 30, 2023
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$34.28bn
Held stripped
$62.4m
Share stripped
0.18%

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
4.630%
Modified duration
2.876 yr
DV01
0.0285
Convexity
0.1
Dirty price
99.213

Where its rate sensitivity sits

<.01
0.01
0.03
0.07
2.63
0.20
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 2.943 years against a modified duration of 2.876.

Against the fitted curve

Priced 1.2 bp rich to the curve on that day, 3.35 cents per 100 of face.

That is -0.78 standard deviations from its own typical residual.

Yield to maturity, 964 observations

3.0%3.5%4.0%4.5%5.0%5.5%Jan 3, 2023Nov 9, 2026Jan 3, 2023Yield to maturity3.885%Jan 10, 2023Yield to maturity3.670%Jan 18, 2023Yield to maturity3.402%Jan 25, 2023Yield to maturity3.511%Feb 1, 2023Yield to maturity3.439%Feb 8, 2023Yield to maturity3.750%Feb 15, 2023Yield to maturity3.948%Feb 23, 2023Yield to maturity4.043%Mar 2, 2023Yield to maturity4.257%Mar 9, 2023Yield to maturity4.118%Mar 16, 2023Yield to maturity3.680%Mar 23, 2023Yield to maturity3.406%Mar 30, 2023Yield to maturity3.632%Apr 6, 2023Yield to maturity3.357%Apr 13, 2023Yield to maturity3.501%Apr 20, 2023Yield to maturity3.609%Apr 27, 2023Yield to maturity3.598%May 4, 2023Yield to maturity3.336%May 11, 2023Yield to maturity3.392%May 18, 2023Yield to maturity3.703%May 25, 2023Yield to maturity3.912%Jun 2, 2023Yield to maturity3.815%Jun 9, 2023Yield to maturity3.880%Jun 16, 2023Yield to maturity3.930%Jun 26, 2023Yield to maturity3.897%Jul 3, 2023Yield to maturity4.091%Jul 11, 2023Yield to maturity4.175%Jul 18, 2023Yield to maturity3.952%Jul 25, 2023Yield to maturity4.109%Aug 1, 2023Yield to maturity4.206%Aug 8, 2023Yield to maturity4.104%Aug 15, 2023Yield to maturity4.350%Aug 22, 2023Yield to maturity4.479%Aug 29, 2023Yield to maturity4.260%Sep 6, 2023Yield to maturity4.436%Sep 13, 2023Yield to maturity4.385%Sep 20, 2023Yield to maturity4.509%Sep 27, 2023Yield to maturity4.719%Oct 4, 2023Yield to maturity4.781%Oct 12, 2023Yield to maturity4.760%Oct 19, 2023Yield to maturity5.031%Oct 26, 2023Yield to maturity4.899%Nov 2, 2023Yield to maturity4.713%Nov 9, 2023Yield to maturity4.710%Nov 16, 2023Yield to maturity4.500%Nov 24, 2023Yield to maturity4.538%Dec 1, 2023Yield to maturity4.228%Dec 8, 2023Yield to maturity4.295%Dec 15, 2023Yield to maturity3.963%Dec 22, 2023Yield to maturity3.928%Jan 2, 2024Yield to maturity3.970%Jan 9, 2024Yield to maturity4.023%Jan 17, 2024Yield to maturity4.078%Jan 24, 2024Yield to maturity4.138%Jan 31, 2024Yield to maturity3.952%Feb 7, 2024Yield to maturity4.097%Feb 14, 2024Yield to maturity4.287%Feb 22, 2024Yield to maturity4.363%Feb 29, 2024Yield to maturity4.284%Mar 7, 2024Yield to maturity4.106%Mar 14, 2024Yield to maturity4.323%Mar 21, 2024Yield to maturity4.293%Mar 28, 2024Yield to maturity4.232%Apr 5, 2024Yield to maturity4.404%Apr 12, 2024Yield to maturity4.552%Apr 19, 2024Yield to maturity4.670%Apr 26, 2024Yield to maturity4.711%May 3, 2024Yield to maturity4.500%May 10, 2024Yield to maturity4.535%May 17, 2024Yield to maturity4.452%May 24, 2024Yield to maturity4.526%Jun 3, 2024Yield to maturity4.437%Jun 10, 2024Yield to maturity4.491%Jun 17, 2024Yield to maturity4.311%Jun 25, 2024Yield to maturity4.267%Jul 2, 2024Yield to maturity4.412%Jul 10, 2024Yield to maturity4.256%Jul 17, 2024Yield to maturity4.094%Jul 24, 2024Yield to maturity4.180%Jul 31, 2024Yield to maturity3.991%Aug 7, 2024Yield to maturity3.829%Aug 14, 2024Yield to maturity3.700%Aug 21, 2024Yield to maturity3.680%Aug 28, 2024Yield to maturity3.699%Sep 5, 2024Yield to maturity3.594%Sep 12, 2024Yield to maturity3.516%Sep 19, 2024Yield to maturity3.540%Sep 26, 2024Yield to maturity3.598%Oct 3, 2024Yield to maturity3.656%Oct 10, 2024Yield to maturity3.941%Oct 18, 2024Yield to maturity3.908%Oct 25, 2024Yield to maturity4.097%Nov 1, 2024Yield to maturity4.242%Nov 8, 2024Yield to maturity4.223%Nov 18, 2024Yield to maturity4.307%Nov 25, 2024Yield to maturity4.198%Dec 3, 2024Yield to maturity4.143%Dec 10, 2024Yield to maturity4.116%Dec 17, 2024Yield to maturity4.279%Dec 24, 2024Yield to maturity4.458%Jan 2, 2025Yield to maturity4.382%Jan 9, 2025Yield to maturity4.469%Jan 16, 2025Yield to maturity4.406%Jan 24, 2025Yield to maturity4.445%Jan 31, 2025Yield to maturity4.382%Feb 7, 2025Yield to maturity4.354%Feb 14, 2025Yield to maturity4.349%Feb 24, 2025Yield to maturity4.249%Mar 3, 2025Yield to maturity3.989%Mar 10, 2025Yield to maturity3.997%Mar 17, 2025Yield to maturity4.113%Mar 24, 2025Yield to maturity4.107%Mar 31, 2025Yield to maturity3.954%Apr 7, 2025Yield to maturity3.816%Apr 14, 2025Yield to maturity4.014%Apr 22, 2025Yield to maturity3.977%Apr 29, 2025Yield to maturity3.764%May 6, 2025Yield to maturity3.889%May 13, 2025Yield to maturity4.121%May 20, 2025Yield to maturity4.062%May 28, 2025Yield to maturity4.055%Jun 4, 2025Yield to maturity3.927%Jun 11, 2025Yield to maturity4.003%Jun 18, 2025Yield to maturity3.974%Jun 26, 2025Yield to maturity3.776%Jul 3, 2025Yield to maturity3.929%Jul 11, 2025Yield to maturity3.967%Jul 18, 2025Yield to maturity3.936%Jul 25, 2025Yield to maturity3.929%Aug 1, 2025Yield to maturity3.742%Aug 8, 2025Yield to maturity3.804%Aug 15, 2025Yield to maturity3.811%Aug 22, 2025Yield to maturity3.725%Aug 29, 2025Yield to maturity3.661%Sep 8, 2025Yield to maturity3.543%Sep 15, 2025Yield to maturity3.581%Sep 22, 2025Yield to maturity3.667%Sep 29, 2025Yield to maturity3.714%Oct 6, 2025Yield to maturity3.713%Oct 14, 2025Yield to maturity3.568%Oct 21, 2025Yield to maturity3.526%Oct 28, 2025Yield to maturity3.573%Nov 4, 2025Yield to maturity3.661%Nov 12, 2025Yield to maturity3.636%Nov 19, 2025Yield to maturity3.668%Nov 26, 2025Yield to maturity3.543%Dec 4, 2025Yield to maturity3.625%Dec 11, 2025Yield to maturity3.657%Dec 18, 2025Yield to maturity3.589%Dec 26, 2025Yield to maturity3.621%Jan 5, 2026Yield to maturity3.628%Jan 12, 2026Yield to maturity3.695%Jan 20, 2026Yield to maturity3.780%Jan 27, 2026Yield to maturity3.736%Feb 3, 2026Yield to maturity3.744%Feb 10, 2026Yield to maturity3.613%Feb 18, 2026Yield to maturity3.577%Feb 25, 2026Yield to maturity3.549%Mar 4, 2026Yield to maturity3.618%Mar 11, 2026Yield to maturity3.723%Mar 18, 2026Yield to maturity3.820%Mar 25, 2026Yield to maturity3.937%Apr 1, 2026Yield to maturity3.910%Apr 8, 2026Yield to maturity3.865%Apr 15, 2026Yield to maturity3.837%Apr 22, 2026Yield to maturity3.855%Apr 29, 2026Yield to maturity4.003%May 6, 2026Yield to maturity3.939%May 13, 2026Yield to maturity4.061%May 20, 2026Yield to maturity4.166%May 28, 2026Yield to maturity4.111%Jun 4, 2026Yield to maturity4.141%Jun 11, 2026Yield to maturity4.142%Jun 18, 2026Yield to maturity4.222%Jun 26, 2026Yield to maturity4.107%Jul 6, 2026Yield to maturity4.167%Jul 13, 2026Yield to maturity4.326%Jul 20, 2026Yield to maturity4.279%Jul 27, 2026Yield to maturity4.380%Aug 3, 2026Yield to maturity4.353%Aug 10, 2026Yield to maturity4.345%Aug 17, 2026Yield to maturity4.297%Aug 24, 2026Yield to maturity4.340%Aug 31, 2026Yield to maturity4.435%Sep 8, 2026Yield to maturity4.500%Sep 15, 2026Yield to maturity4.787%Sep 22, 2026Yield to maturity4.824%Sep 29, 2026Yield to maturity5.011%Oct 6, 2026Yield to maturity4.953%Oct 14, 2026Yield to maturity4.938%Oct 21, 2026Yield to maturity4.911%Oct 28, 2026Yield to maturity4.819%Nov 4, 2026Yield to maturity4.649%Nov 9, 2026Yield to maturity4.630%

Price history

964 trading days to Nov 9, 2026

92949698100102104Jan 3, 2023Nov 9, 2026Jan 3, 2023Close99.938Jan 10, 2023Close101.250Jan 18, 2023Close102.906Jan 25, 2023Close102.219Feb 1, 2023Close102.656Feb 8, 2023Close100.750Feb 15, 2023Close99.563Feb 23, 2023Close99.000Mar 2, 2023Close97.750Mar 9, 2023Close98.563Mar 16, 2023Close101.156Mar 23, 2023Close102.813Mar 30, 2023Close101.438Apr 6, 2023Close103.094Apr 13, 2023Close102.219Apr 20, 2023Close101.563Apr 27, 2023Close101.625May 4, 2023Close103.188May 11, 2023Close102.844May 18, 2023Close101.000May 25, 2023Close99.781Jun 2, 2023Close100.344Jun 9, 2023Close99.969Jun 16, 2023Close99.688Jun 26, 2023Close99.875Jul 3, 2023Close98.781Jul 11, 2023Close98.313Jul 18, 2023Close99.563Jul 25, 2023Close98.688Aug 1, 2023Close98.156Aug 8, 2023Close98.719Aug 15, 2023Close97.375Aug 22, 2023Close96.688Aug 29, 2023Close97.875Sep 6, 2023Close96.938Sep 13, 2023Close97.219Sep 20, 2023Close96.563Sep 27, 2023Close95.469Oct 4, 2023Close95.156Oct 12, 2023Close95.281Oct 19, 2023Close93.906Oct 26, 2023Close94.594Nov 2, 2023Close95.563Nov 9, 2023Close95.594Nov 16, 2023Close96.688Nov 24, 2023Close96.500Dec 1, 2023Close98.125Dec 8, 2023Close97.781Dec 15, 2023Close99.531Dec 22, 2023Close99.719Jan 2, 2024Close99.500Jan 9, 2024Close99.219Jan 17, 2024Close98.938Jan 24, 2024Close98.625Jan 31, 2024Close99.594Feb 7, 2024Close98.844Feb 14, 2024Close97.875Feb 22, 2024Close97.500Feb 29, 2024Close97.906Mar 7, 2024Close98.813Mar 14, 2024Close97.719Mar 21, 2024Close97.875Mar 28, 2024Close98.188Apr 5, 2024Close97.344Apr 12, 2024Close96.625Apr 19, 2024Close96.063Apr 26, 2024Close95.875May 3, 2024Close96.906May 10, 2024Close96.750May 17, 2024Close97.156May 24, 2024Close96.813Jun 3, 2024Close97.250Jun 10, 2024Close97.000Jun 17, 2024Close97.875Jun 25, 2024Close98.094Jul 2, 2024Close97.406Jul 10, 2024Close98.156Jul 17, 2024Close98.938Jul 24, 2024Close98.531Jul 31, 2024Close99.438Aug 7, 2024Close100.219Aug 14, 2024Close100.844Aug 21, 2024Close100.938Aug 28, 2024Close100.844Sep 5, 2024Close101.344Sep 12, 2024Close101.719Sep 19, 2024Close101.594Sep 26, 2024Close101.313Oct 3, 2024Close101.031Oct 10, 2024Close99.688Oct 18, 2024Close99.844Oct 25, 2024Close98.969Nov 1, 2024Close98.313Nov 8, 2024Close98.406Nov 18, 2024Close98.031Nov 25, 2024Close98.531Dec 3, 2024Close98.781Dec 10, 2024Close98.906Dec 17, 2024Close98.188Dec 24, 2024Close97.406Jan 2, 2025Close97.750Jan 9, 2025Close97.375Jan 16, 2025Close97.656Jan 24, 2025Close97.500Jan 31, 2025Close97.781Feb 7, 2025Close97.906Feb 14, 2025Close97.938Feb 24, 2025Close98.375Mar 3, 2025Close99.500Mar 10, 2025Close99.469Mar 17, 2025Close98.969Mar 24, 2025Close99.000Mar 31, 2025Close99.656Apr 7, 2025Close100.250Apr 14, 2025Close99.406Apr 22, 2025Close99.563Apr 29, 2025Close100.469May 6, 2025Close99.938May 13, 2025Close98.969May 20, 2025Close99.219May 28, 2025Close99.250Jun 4, 2025Close99.781Jun 11, 2025Close99.469Jun 18, 2025Close99.594Jun 26, 2025Close100.406Jul 3, 2025Close99.781Jul 11, 2025Close99.625Jul 18, 2025Close99.750Jul 25, 2025Close99.781Aug 1, 2025Close100.531Aug 8, 2025Close100.281Aug 15, 2025Close100.250Aug 22, 2025Close100.594Aug 29, 2025Close100.844Sep 8, 2025Close101.313Sep 15, 2025Close101.156Sep 22, 2025Close100.813Sep 29, 2025Close100.625Oct 6, 2025Close100.625Oct 14, 2025Close101.188Oct 21, 2025Close101.344Oct 28, 2025Close101.156Nov 4, 2025Close100.813Nov 12, 2025Close100.906Nov 19, 2025Close100.781Nov 26, 2025Close101.250Dec 4, 2025Close100.938Dec 11, 2025Close100.813Dec 18, 2025Close101.063Dec 26, 2025Close100.938Jan 5, 2026Close100.906Jan 12, 2026Close100.656Jan 20, 2026Close100.344Jan 27, 2026Close100.500Feb 3, 2026Close100.469Feb 10, 2026Close100.938Feb 18, 2026Close101.063Feb 25, 2026Close101.156Mar 4, 2026Close100.906Mar 11, 2026Close100.531Mar 18, 2026Close100.188Mar 25, 2026Close99.781Apr 1, 2026Close99.875Apr 8, 2026Close100.031Apr 15, 2026Close100.125Apr 22, 2026Close100.063Apr 29, 2026Close99.563May 6, 2026Close99.781May 13, 2026Close99.375May 20, 2026Close99.031May 28, 2026Close99.219Jun 4, 2026Close99.125Jun 11, 2026Close99.125Jun 18, 2026Close98.875Jun 26, 2026Close99.250Jul 6, 2026Close99.063Jul 13, 2026Close98.563Jul 20, 2026Close98.719Jul 27, 2026Close98.406Aug 3, 2026Close98.500Aug 10, 2026Close98.531Aug 17, 2026Close98.688Aug 24, 2026Close98.563Aug 31, 2026Close98.281Sep 8, 2026Close98.094Sep 15, 2026Close97.250Sep 22, 2026Close97.156Sep 29, 2026Close96.625Oct 6, 2026Close96.813Oct 14, 2026Close96.875Oct 21, 2026Close96.969Oct 28, 2026Close97.250Nov 4, 2026Close97.750Nov 9, 2026Close97.813
The most recent 20 trading days of prices for 91282CGB1.
DateBidOfferClose
Nov 9, 202697.81397.82897.813
Nov 6, 202697.87597.89197.875
Nov 5, 202697.90697.92298.031
Nov 4, 202697.65697.68897.750
Nov 3, 202697.62597.64197.594
Nov 2, 202697.71997.73497.688
Oct 30, 202697.56397.59497.688
Oct 29, 202697.46997.48497.469
Oct 28, 202697.12597.15697.250
Oct 27, 202697.28197.29797.250
Oct 26, 202697.31397.32897.281
Oct 23, 202697.34497.37597.375
Oct 22, 202697.28197.31397.469
Oct 21, 202697.03197.04796.969
Oct 20, 202697.06397.09497.031
Oct 19, 202697.06397.07897.031
Oct 16, 202697.18897.20397.156
Oct 15, 202697.06397.07897.063
Oct 14, 202696.68896.70396.875
Oct 13, 202696.81396.82896.875

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 91282CGB1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 29, 2022Jan 3, 2023New issue$35.0bn$35.0bn2.45x3.921%

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.