Treasury note

91282CGP0 · 4% due February 29, 2028

Original term
5-Year
Maturity
Feb 29, 2028
Coupon
4.000%
Pays
Semi-Annual
Dated
Feb 28, 2023
First coupon
Aug 31, 2023
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$52.17bn
Held stripped
$18.9m
Share stripped
0.04%

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
4.495%
Modified duration
1.247 yr
DV01
0.0125
Convexity
0.0219
Dirty price
100.160

Where its rate sensitivity sits

<.01
0.01
0.88
0.38
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 4 of twelve buckets, summing to 1.274 years against a modified duration of 1.247.

Against the fitted curve

Priced 0.8 bp cheap to the curve on that day, 1.06 cents per 100 of face.

That is 0.44 standard deviations from its own typical residual.

Yield to maturity, 926 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Feb 28, 2023Nov 9, 2026Feb 28, 2023Yield to maturity4.175%Mar 6, 2023Yield to maturity4.267%Mar 10, 2023Yield to maturity3.965%Mar 16, 2023Yield to maturity3.721%Mar 22, 2023Yield to maturity3.547%Mar 28, 2023Yield to maturity3.643%Apr 3, 2023Yield to maturity3.524%Apr 7, 2023Yield to maturity3.495%Apr 13, 2023Yield to maturity3.507%Apr 19, 2023Yield to maturity3.723%Apr 25, 2023Yield to maturity3.435%May 1, 2023Yield to maturity3.643%May 5, 2023Yield to maturity3.410%May 11, 2023Yield to maturity3.360%May 17, 2023Yield to maturity3.583%May 23, 2023Yield to maturity3.768%May 30, 2023Yield to maturity3.861%Jun 5, 2023Yield to maturity3.860%Jun 9, 2023Yield to maturity3.962%Jun 15, 2023Yield to maturity3.955%Jun 22, 2023Yield to maturity4.080%Jun 28, 2023Yield to maturity4.021%Jul 5, 2023Yield to maturity4.298%Jul 11, 2023Yield to maturity4.284%Jul 17, 2023Yield to maturity4.059%Jul 21, 2023Yield to maturity4.135%Jul 27, 2023Yield to maturity4.302%Aug 2, 2023Yield to maturity4.280%Aug 8, 2023Yield to maturity4.151%Aug 14, 2023Yield to maturity4.406%Aug 18, 2023Yield to maturity4.431%Aug 24, 2023Yield to maturity4.455%Aug 30, 2023Yield to maturity4.340%Sep 6, 2023Yield to maturity4.505%Sep 12, 2023Yield to maturity4.483%Sep 18, 2023Yield to maturity4.532%Sep 22, 2023Yield to maturity4.630%Sep 28, 2023Yield to maturity4.679%Oct 4, 2023Yield to maturity4.746%Oct 11, 2023Yield to maturity4.628%Oct 17, 2023Yield to maturity4.899%Oct 23, 2023Yield to maturity4.828%Oct 27, 2023Yield to maturity4.789%Nov 2, 2023Yield to maturity4.684%Nov 8, 2023Yield to maturity4.564%Nov 14, 2023Yield to maturity4.459%Nov 20, 2023Yield to maturity4.485%Nov 27, 2023Yield to maturity4.463%Dec 1, 2023Yield to maturity4.210%Dec 7, 2023Yield to maturity4.194%Dec 13, 2023Yield to maturity4.072%Dec 19, 2023Yield to maturity4.023%Dec 26, 2023Yield to maturity3.958%Jan 2, 2024Yield to maturity3.991%Jan 8, 2024Yield to maturity4.024%Jan 12, 2024Yield to maturity3.875%Jan 19, 2024Yield to maturity4.108%Jan 25, 2024Yield to maturity4.066%Jan 31, 2024Yield to maturity3.966%Feb 6, 2024Yield to maturity4.101%Feb 12, 2024Yield to maturity4.195%Feb 16, 2024Yield to maturity4.367%Feb 23, 2024Yield to maturity4.369%Feb 29, 2024Yield to maturity4.353%Mar 6, 2024Yield to maturity4.224%Mar 12, 2024Yield to maturity4.259%Mar 18, 2024Yield to maturity4.453%Mar 22, 2024Yield to maturity4.296%Mar 28, 2024Yield to maturity4.323%Apr 4, 2024Yield to maturity4.386%Apr 10, 2024Yield to maturity4.719%Apr 16, 2024Yield to maturity4.777%Apr 22, 2024Yield to maturity4.743%Apr 26, 2024Yield to maturity4.782%May 2, 2024Yield to maturity4.665%May 8, 2024Yield to maturity4.595%May 14, 2024Yield to maturity4.551%May 20, 2024Yield to maturity4.544%May 24, 2024Yield to maturity4.630%May 31, 2024Yield to maturity4.614%Jun 6, 2024Yield to maturity4.402%Jun 12, 2024Yield to maturity4.432%Jun 18, 2024Yield to maturity4.359%Jun 25, 2024Yield to maturity4.379%Jul 1, 2024Yield to maturity4.541%Jul 8, 2024Yield to maturity4.336%Jul 12, 2024Yield to maturity4.186%Jul 18, 2024Yield to maturity4.187%Jul 24, 2024Yield to maturity4.207%Jul 30, 2024Yield to maturity4.122%Aug 5, 2024Yield to maturity3.679%Aug 9, 2024Yield to maturity3.866%Aug 15, 2024Yield to maturity3.866%Aug 21, 2024Yield to maturity3.713%Aug 27, 2024Yield to maturity3.712%Sep 3, 2024Yield to maturity3.711%Sep 9, 2024Yield to maturity3.518%Sep 13, 2024Yield to maturity3.439%Sep 19, 2024Yield to maturity3.495%Sep 25, 2024Yield to maturity3.512%Oct 1, 2024Yield to maturity3.529%Oct 7, 2024Yield to maturity3.910%Oct 11, 2024Yield to maturity3.879%Oct 18, 2024Yield to maturity3.879%Oct 24, 2024Yield to maturity4.029%Oct 30, 2024Yield to maturity4.151%Nov 5, 2024Yield to maturity4.161%Nov 12, 2024Yield to maturity4.317%Nov 18, 2024Yield to maturity4.266%Nov 22, 2024Yield to maturity4.330%Nov 29, 2024Yield to maturity4.123%Dec 5, 2024Yield to maturity4.113%Dec 11, 2024Yield to maturity4.145%Dec 17, 2024Yield to maturity4.241%Dec 23, 2024Yield to maturity4.392%Dec 30, 2024Yield to maturity4.319%Jan 6, 2025Yield to maturity4.342%Jan 10, 2025Yield to maturity4.496%Jan 16, 2025Yield to maturity4.313%Jan 23, 2025Yield to maturity4.358%Jan 29, 2025Yield to maturity4.283%Feb 4, 2025Yield to maturity4.263%Feb 10, 2025Yield to maturity4.309%Feb 14, 2025Yield to maturity4.289%Feb 21, 2025Yield to maturity4.212%Feb 27, 2025Yield to maturity4.067%Mar 5, 2025Yield to maturity4.022%Mar 11, 2025Yield to maturity3.955%Mar 17, 2025Yield to maturity4.056%Mar 21, 2025Yield to maturity3.931%Mar 27, 2025Yield to maturity4.010%Apr 2, 2025Yield to maturity3.907%Apr 8, 2025Yield to maturity3.746%Apr 14, 2025Yield to maturity3.883%Apr 21, 2025Yield to maturity3.777%Apr 25, 2025Yield to maturity3.764%May 1, 2025Yield to maturity3.693%May 7, 2025Yield to maturity3.762%May 13, 2025Yield to maturity4.022%May 19, 2025Yield to maturity3.962%May 23, 2025Yield to maturity3.986%May 30, 2025Yield to maturity3.889%Jun 5, 2025Yield to maturity3.913%Jun 11, 2025Yield to maturity3.925%Jun 17, 2025Yield to maturity3.924%Jun 24, 2025Yield to maturity3.763%Jun 30, 2025Yield to maturity3.700%Jul 7, 2025Yield to maturity3.873%Jul 11, 2025Yield to maturity3.885%Jul 17, 2025Yield to maturity3.897%Jul 23, 2025Yield to maturity3.846%Jul 29, 2025Yield to maturity3.832%Aug 4, 2025Yield to maturity3.665%Aug 8, 2025Yield to maturity3.740%Aug 14, 2025Yield to maturity3.714%Aug 20, 2025Yield to maturity3.699%Aug 26, 2025Yield to maturity3.632%Sep 2, 2025Yield to maturity3.643%Sep 8, 2025Yield to maturity3.468%Sep 12, 2025Yield to maturity3.531%Sep 18, 2025Yield to maturity3.556%Sep 24, 2025Yield to maturity3.606%Sep 30, 2025Yield to maturity3.604%Oct 6, 2025Yield to maturity3.601%Oct 10, 2025Yield to maturity3.529%Oct 17, 2025Yield to maturity3.457%Oct 23, 2025Yield to maturity3.482%Oct 29, 2025Yield to maturity3.590%Nov 4, 2025Yield to maturity3.573%Nov 10, 2025Yield to maturity3.584%Nov 17, 2025Yield to maturity3.609%Nov 21, 2025Yield to maturity3.506%Nov 28, 2025Yield to maturity3.487%Dec 4, 2025Yield to maturity3.529%Dec 10, 2025Yield to maturity3.555%Dec 16, 2025Yield to maturity3.492%Dec 22, 2025Yield to maturity3.519%Dec 29, 2025Yield to maturity3.485%Jan 5, 2026Yield to maturity3.480%Jan 9, 2026Yield to maturity3.553%Jan 15, 2026Yield to maturity3.581%Jan 22, 2026Yield to maturity3.624%Jan 28, 2026Yield to maturity3.606%Feb 3, 2026Yield to maturity3.587%Feb 9, 2026Yield to maturity3.505%Feb 13, 2026Yield to maturity3.421%Feb 20, 2026Yield to maturity3.481%Feb 26, 2026Yield to maturity3.446%Mar 4, 2026Yield to maturity3.556%Mar 10, 2026Yield to maturity3.585%Mar 16, 2026Yield to maturity3.681%Mar 20, 2026Yield to maturity3.914%Mar 26, 2026Yield to maturity4.016%Apr 1, 2026Yield to maturity3.827%Apr 7, 2026Yield to maturity3.843%Apr 13, 2026Yield to maturity3.789%Apr 17, 2026Yield to maturity3.717%Apr 23, 2026Yield to maturity3.839%Apr 29, 2026Yield to maturity3.926%May 5, 2026Yield to maturity3.925%May 11, 2026Yield to maturity3.943%May 15, 2026Yield to maturity4.070%May 21, 2026Yield to maturity4.071%May 28, 2026Yield to maturity4.016%Jun 3, 2026Yield to maturity4.072%Jun 9, 2026Yield to maturity4.111%Jun 15, 2026Yield to maturity4.054%Jun 22, 2026Yield to maturity4.249%Jun 26, 2026Yield to maturity4.095%Jul 2, 2026Yield to maturity4.155%Jul 9, 2026Yield to maturity4.156%Jul 15, 2026Yield to maturity4.118%Jul 21, 2026Yield to maturity4.241%Jul 27, 2026Yield to maturity4.306%Jul 31, 2026Yield to maturity4.267%Aug 6, 2026Yield to maturity4.228%Aug 12, 2026Yield to maturity4.167%Aug 18, 2026Yield to maturity4.148%Aug 24, 2026Yield to maturity4.193%Aug 28, 2026Yield to maturity4.326%Sep 3, 2026Yield to maturity4.284%Sep 10, 2026Yield to maturity4.488%Sep 16, 2026Yield to maturity4.673%Sep 22, 2026Yield to maturity4.681%Sep 28, 2026Yield to maturity4.827%Oct 2, 2026Yield to maturity4.719%Oct 8, 2026Yield to maturity4.653%Oct 15, 2026Yield to maturity4.686%Oct 21, 2026Yield to maturity4.718%Oct 27, 2026Yield to maturity4.653%Nov 2, 2026Yield to maturity4.537%Nov 6, 2026Yield to maturity4.469%Nov 9, 2026Yield to maturity4.495%

Price history

926 trading days to Nov 9, 2026

9698100102104Feb 28, 2023Nov 9, 2026Feb 28, 2023Close99.219Mar 6, 2023Close98.813Mar 10, 2023Close100.156Mar 16, 2023Close101.250Mar 22, 2023Close102.031Mar 28, 2023Close101.594Apr 3, 2023Close102.125Apr 7, 2023Close102.250Apr 13, 2023Close102.188Apr 19, 2023Close101.219Apr 25, 2023Close102.500May 1, 2023Close101.563May 5, 2023Close102.594May 11, 2023Close102.813May 17, 2023Close101.813May 23, 2023Close101.000May 30, 2023Close100.594Jun 5, 2023Close100.594Jun 9, 2023Close100.156Jun 15, 2023Close100.188Jun 22, 2023Close99.656Jun 28, 2023Close99.906Jul 5, 2023Close98.750Jul 11, 2023Close98.813Jul 17, 2023Close99.750Jul 21, 2023Close99.438Jul 27, 2023Close98.750Aug 2, 2023Close98.844Aug 8, 2023Close99.375Aug 14, 2023Close98.344Aug 18, 2023Close98.250Aug 24, 2023Close98.156Aug 30, 2023Close98.625Sep 6, 2023Close97.969Sep 12, 2023Close98.063Sep 18, 2023Close97.875Sep 22, 2023Close97.500Sep 28, 2023Close97.313Oct 4, 2023Close97.063Oct 11, 2023Close97.531Oct 17, 2023Close96.500Oct 23, 2023Close96.781Oct 27, 2023Close96.938Nov 2, 2023Close97.344Nov 8, 2023Close97.813Nov 14, 2023Close98.219Nov 20, 2023Close98.125Nov 27, 2023Close98.219Dec 1, 2023Close99.188Dec 7, 2023Close99.250Dec 13, 2023Close99.719Dec 19, 2023Close99.906Dec 26, 2023Close100.156Jan 2, 2024Close100.031Jan 8, 2024Close99.906Jan 12, 2024Close100.469Jan 19, 2024Close99.594Jan 25, 2024Close99.750Jan 31, 2024Close100.125Feb 6, 2024Close99.625Feb 12, 2024Close99.281Feb 16, 2024Close98.656Feb 23, 2024Close98.656Feb 29, 2024Close98.719Mar 6, 2024Close99.188Mar 12, 2024Close99.063Mar 18, 2024Close98.375Mar 22, 2024Close98.938Mar 28, 2024Close98.844Apr 4, 2024Close98.625Apr 10, 2024Close97.469Apr 16, 2024Close97.281Apr 22, 2024Close97.406Apr 26, 2024Close97.281May 2, 2024Close97.688May 8, 2024Close97.938May 14, 2024Close98.094May 20, 2024Close98.125May 24, 2024Close97.844May 31, 2024Close97.906Jun 6, 2024Close98.625Jun 12, 2024Close98.531Jun 18, 2024Close98.781Jun 25, 2024Close98.719Jul 1, 2024Close98.188Jul 8, 2024Close98.875Jul 12, 2024Close99.375Jul 18, 2024Close99.375Jul 24, 2024Close99.313Jul 30, 2024Close99.594Aug 5, 2024Close101.063Aug 9, 2024Close100.438Aug 15, 2024Close100.438Aug 21, 2024Close100.938Aug 27, 2024Close100.938Sep 3, 2024Close100.938Sep 9, 2024Close101.563Sep 13, 2024Close101.813Sep 19, 2024Close101.625Sep 25, 2024Close101.563Oct 1, 2024Close101.500Oct 7, 2024Close100.281Oct 11, 2024Close100.375Oct 18, 2024Close100.375Oct 24, 2024Close99.906Oct 30, 2024Close99.531Nov 5, 2024Close99.500Nov 12, 2024Close99.031Nov 18, 2024Close99.188Nov 22, 2024Close99.000Nov 29, 2024Close99.625Dec 5, 2024Close99.656Dec 11, 2024Close99.563Dec 17, 2024Close99.281Dec 23, 2024Close98.844Dec 30, 2024Close99.063Jan 6, 2025Close99.000Jan 10, 2025Close98.563Jan 16, 2025Close99.094Jan 23, 2025Close98.969Jan 29, 2025Close99.188Feb 4, 2025Close99.250Feb 10, 2025Close99.125Feb 14, 2025Close99.188Feb 21, 2025Close99.406Feb 27, 2025Close99.813Mar 5, 2025Close99.938Mar 11, 2025Close100.125Mar 17, 2025Close99.844Mar 21, 2025Close100.188Mar 27, 2025Close99.969Apr 2, 2025Close100.250Apr 8, 2025Close100.688Apr 14, 2025Close100.313Apr 21, 2025Close100.594Apr 25, 2025Close100.625May 1, 2025Close100.813May 7, 2025Close100.625May 13, 2025Close99.938May 19, 2025Close100.094May 23, 2025Close100.031May 30, 2025Close100.281Jun 5, 2025Close100.219Jun 11, 2025Close100.188Jun 17, 2025Close100.188Jun 24, 2025Close100.594Jun 30, 2025Close100.750Jul 7, 2025Close100.313Jul 11, 2025Close100.281Jul 17, 2025Close100.250Jul 23, 2025Close100.375Jul 29, 2025Close100.406Aug 4, 2025Close100.813Aug 8, 2025Close100.625Aug 14, 2025Close100.688Aug 20, 2025Close100.719Aug 26, 2025Close100.875Sep 2, 2025Close100.844Sep 8, 2025Close101.250Sep 12, 2025Close101.094Sep 18, 2025Close101.031Sep 24, 2025Close100.906Sep 30, 2025Close100.906Oct 6, 2025Close100.906Oct 10, 2025Close101.063Oct 17, 2025Close101.219Oct 23, 2025Close101.156Oct 29, 2025Close100.906Nov 4, 2025Close100.938Nov 10, 2025Close100.906Nov 17, 2025Close100.844Nov 21, 2025Close101.063Nov 28, 2025Close101.094Dec 4, 2025Close101.000Dec 10, 2025Close100.938Dec 16, 2025Close101.063Dec 22, 2025Close101.000Dec 29, 2025Close101.063Jan 5, 2026Close101.063Jan 9, 2026Close100.906Jan 15, 2026Close100.844Jan 22, 2026Close100.750Jan 28, 2026Close100.781Feb 3, 2026Close100.813Feb 9, 2026Close100.969Feb 13, 2026Close101.125Feb 20, 2026Close101.000Feb 26, 2026Close101.063Mar 4, 2026Close100.844Mar 10, 2026Close100.781Mar 16, 2026Close100.594Mar 20, 2026Close100.156Mar 26, 2026Close99.969Apr 1, 2026Close100.313Apr 7, 2026Close100.281Apr 13, 2026Close100.375Apr 17, 2026Close100.500Apr 23, 2026Close100.281Apr 29, 2026Close100.125May 5, 2026Close100.125May 11, 2026Close100.094May 15, 2026Close99.875May 21, 2026Close99.875May 28, 2026Close99.969Jun 3, 2026Close99.875Jun 9, 2026Close99.813Jun 15, 2026Close99.906Jun 22, 2026Close99.594Jun 26, 2026Close99.844Jul 2, 2026Close99.750Jul 9, 2026Close99.750Jul 15, 2026Close99.813Jul 21, 2026Close99.625Jul 27, 2026Close99.531Jul 31, 2026Close99.594Aug 6, 2026Close99.656Aug 12, 2026Close99.750Aug 18, 2026Close99.781Aug 24, 2026Close99.719Aug 28, 2026Close99.531Sep 3, 2026Close99.594Sep 10, 2026Close99.313Sep 16, 2026Close99.063Sep 22, 2026Close99.063Sep 28, 2026Close98.875Oct 2, 2026Close99.031Oct 8, 2026Close99.125Oct 15, 2026Close99.094Oct 21, 2026Close99.063Oct 27, 2026Close99.156Nov 2, 2026Close99.313Nov 6, 2026Close99.406Nov 9, 2026Close99.375
The most recent 20 trading days of prices for 91282CGP0.
DateBidOfferClose
Nov 9, 202699.37599.39199.375
Nov 6, 202699.40699.42299.406
Nov 5, 202699.37599.39199.469
Nov 4, 202699.31399.32899.313
Nov 3, 202699.31399.32899.313
Nov 2, 202699.31399.32899.313
Oct 30, 202699.31399.32899.344
Oct 29, 202699.25099.26699.250
Oct 28, 202699.12599.14199.188
Oct 27, 202699.18899.18899.156
Oct 26, 202699.18899.20399.188
Oct 23, 202699.21999.21999.219
Oct 22, 202699.18899.20399.250
Oct 21, 202699.09499.10999.063
Oct 20, 202699.12599.12599.094
Oct 19, 202699.12599.12599.125
Oct 16, 202699.15699.17299.156
Oct 15, 202699.09499.10999.094
Oct 14, 202698.96998.98499.031
Oct 13, 202699.06399.07899.063

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 91282CGP0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 22, 2023Feb 28, 2023New issue$43.0bn$52.8bn2.48x4.109%

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.