Treasury note

91282CGT2 · 3.625% due March 31, 2028

Original term
5-Year
Maturity
Mar 31, 2028
Coupon
3.625%
Pays
Semi-Annual
Dated
Mar 31, 2023
First coupon
Sep 30, 2023
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$42.05bn
Held stripped
$17.6m
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
4.515%
Modified duration
1.331 yr
DV01
0.0132
Convexity
0.0244
Dirty price
99.221

Where its rate sensitivity sits

<.01
0.01
0.83
0.52
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 1.362 years against a modified duration of 1.331.

Against the fitted curve

Priced 1.1 bp cheap to the curve on that day, 1.48 cents per 100 of face.

That is 0.89 standard deviations from its own typical residual.

Yield to maturity, 903 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Mar 31, 2023Nov 9, 2026Mar 31, 2023Yield to maturity3.604%Apr 6, 2023Yield to maturity3.371%Apr 12, 2023Yield to maturity3.466%Apr 18, 2023Yield to maturity3.687%Apr 24, 2023Yield to maturity3.604%Apr 28, 2023Yield to maturity3.534%May 4, 2023Yield to maturity3.311%May 10, 2023Yield to maturity3.387%May 16, 2023Yield to maturity3.526%May 22, 2023Yield to maturity3.781%May 26, 2023Yield to maturity3.975%Jun 2, 2023Yield to maturity3.889%Jun 8, 2023Yield to maturity3.912%Jun 14, 2023Yield to maturity4.102%Jun 21, 2023Yield to maturity4.001%Jun 27, 2023Yield to maturity4.076%Jul 3, 2023Yield to maturity4.241%Jul 10, 2023Yield to maturity4.281%Jul 14, 2023Yield to maturity4.081%Jul 20, 2023Yield to maturity4.127%Jul 26, 2023Yield to maturity4.158%Aug 1, 2023Yield to maturity4.289%Aug 7, 2023Yield to maturity4.200%Aug 11, 2023Yield to maturity4.347%Aug 17, 2023Yield to maturity4.464%Aug 23, 2023Yield to maturity4.420%Aug 29, 2023Yield to maturity4.330%Sep 5, 2023Yield to maturity4.434%Sep 11, 2023Yield to maturity4.468%Sep 15, 2023Yield to maturity4.518%Sep 21, 2023Yield to maturity4.671%Sep 27, 2023Yield to maturity4.746%Oct 3, 2023Yield to maturity4.846%Oct 10, 2023Yield to maturity4.650%Oct 16, 2023Yield to maturity4.750%Oct 20, 2023Yield to maturity4.883%Oct 26, 2023Yield to maturity4.829%Nov 1, 2023Yield to maturity4.694%Nov 7, 2023Yield to maturity4.568%Nov 13, 2023Yield to maturity4.693%Nov 17, 2023Yield to maturity4.485%Nov 24, 2023Yield to maturity4.537%Nov 30, 2023Yield to maturity4.368%Dec 6, 2023Yield to maturity4.191%Dec 12, 2023Yield to maturity4.291%Dec 18, 2023Yield to maturity4.017%Dec 22, 2023Yield to maturity3.929%Dec 29, 2023Yield to maturity3.906%Jan 5, 2024Yield to maturity4.071%Jan 11, 2024Yield to maturity3.949%Jan 18, 2024Yield to maturity4.065%Jan 24, 2024Yield to maturity4.125%Jan 30, 2024Yield to maturity4.052%Feb 5, 2024Yield to maturity4.179%Feb 9, 2024Yield to maturity4.198%Feb 15, 2024Yield to maturity4.284%Feb 22, 2024Yield to maturity4.407%Feb 28, 2024Yield to maturity4.349%Mar 5, 2024Yield to maturity4.224%Mar 11, 2024Yield to maturity4.175%Mar 15, 2024Yield to maturity4.419%Mar 21, 2024Yield to maturity4.343%Mar 27, 2024Yield to maturity4.276%Apr 3, 2024Yield to maturity4.410%Apr 9, 2024Yield to maturity4.466%Apr 15, 2024Yield to maturity4.727%Apr 19, 2024Yield to maturity4.741%Apr 25, 2024Yield to maturity4.798%May 1, 2024Yield to maturity4.729%May 7, 2024Yield to maturity4.562%May 13, 2024Yield to maturity4.583%May 17, 2024Yield to maturity4.523%May 23, 2024Yield to maturity4.617%May 30, 2024Yield to maturity4.667%Jun 5, 2024Yield to maturity4.414%Jun 11, 2024Yield to maturity4.509%Jun 17, 2024Yield to maturity4.412%Jun 24, 2024Yield to maturity4.378%Jun 28, 2024Yield to maturity4.446%Jul 5, 2024Yield to maturity4.320%Jul 11, 2024Yield to maturity4.210%Jul 17, 2024Yield to maturity4.138%Jul 23, 2024Yield to maturity4.215%Jul 29, 2024Yield to maturity4.133%Aug 2, 2024Yield to maturity3.661%Aug 8, 2024Yield to maturity3.875%Aug 14, 2024Yield to maturity3.726%Aug 20, 2024Yield to maturity3.764%Aug 26, 2024Yield to maturity3.718%Aug 30, 2024Yield to maturity3.756%Sep 6, 2024Yield to maturity3.521%Sep 12, 2024Yield to maturity3.492%Sep 18, 2024Yield to maturity3.482%Sep 24, 2024Yield to maturity3.463%Sep 30, 2024Yield to maturity3.587%Oct 4, 2024Yield to maturity3.838%Oct 10, 2024Yield to maturity3.916%Oct 17, 2024Yield to maturity3.898%Oct 23, 2024Yield to maturity4.047%Oct 29, 2024Yield to maturity4.099%Nov 4, 2024Yield to maturity4.161%Nov 8, 2024Yield to maturity4.215%Nov 15, 2024Yield to maturity4.288%Nov 21, 2024Yield to maturity4.311%Nov 27, 2024Yield to maturity4.171%Dec 4, 2024Yield to maturity4.091%Dec 10, 2024Yield to maturity4.114%Dec 16, 2024Yield to maturity4.241%Dec 20, 2024Yield to maturity4.338%Dec 27, 2024Yield to maturity4.395%Jan 3, 2025Yield to maturity4.346%Jan 9, 2025Yield to maturity4.359%Jan 15, 2025Yield to maturity4.363%Jan 22, 2025Yield to maturity4.356%Jan 28, 2025Yield to maturity4.263%Feb 3, 2025Yield to maturity4.298%Feb 7, 2025Yield to maturity4.313%Feb 13, 2025Yield to maturity4.337%Feb 20, 2025Yield to maturity4.286%Feb 26, 2025Yield to maturity4.048%Mar 4, 2025Yield to maturity3.962%Mar 10, 2025Yield to maturity3.920%Mar 14, 2025Yield to maturity4.022%Mar 20, 2025Yield to maturity3.945%Mar 26, 2025Yield to maturity4.014%Apr 1, 2025Yield to maturity3.859%Apr 7, 2025Yield to maturity3.737%Apr 11, 2025Yield to maturity3.997%Apr 17, 2025Yield to maturity3.805%Apr 24, 2025Yield to maturity3.795%Apr 30, 2025Yield to maturity3.579%May 6, 2025Yield to maturity3.762%May 12, 2025Yield to maturity3.983%May 16, 2025Yield to maturity3.961%May 22, 2025Yield to maturity3.974%May 29, 2025Yield to maturity3.905%Jun 4, 2025Yield to maturity3.836%Jun 10, 2025Yield to maturity3.980%Jun 16, 2025Yield to maturity3.934%Jun 23, 2025Yield to maturity3.803%Jun 27, 2025Yield to maturity3.732%Jul 3, 2025Yield to maturity3.854%Jul 10, 2025Yield to maturity3.831%Jul 16, 2025Yield to maturity3.857%Jul 22, 2025Yield to maturity3.771%Jul 28, 2025Yield to maturity3.872%Aug 1, 2025Yield to maturity3.673%Aug 7, 2025Yield to maturity3.699%Aug 13, 2025Yield to maturity3.649%Aug 19, 2025Yield to maturity3.712%Aug 25, 2025Yield to maturity3.675%Aug 29, 2025Yield to maturity3.586%Sep 5, 2025Yield to maturity3.483%Sep 11, 2025Yield to maturity3.495%Sep 17, 2025Yield to maturity3.508%Sep 23, 2025Yield to maturity3.572%Sep 29, 2025Yield to maturity3.625%Oct 3, 2025Yield to maturity3.572%Oct 9, 2025Yield to maturity3.598%Oct 16, 2025Yield to maturity3.424%Oct 22, 2025Yield to maturity3.436%Oct 28, 2025Yield to maturity3.488%Nov 3, 2025Yield to maturity3.597%Nov 7, 2025Yield to maturity3.555%Nov 14, 2025Yield to maturity3.596%Nov 20, 2025Yield to maturity3.540%Nov 26, 2025Yield to maturity3.469%Dec 3, 2025Yield to maturity3.482%Dec 9, 2025Yield to maturity3.623%Dec 15, 2025Yield to maturity3.523%Dec 19, 2025Yield to maturity3.493%Dec 26, 2025Yield to maturity3.492%Jan 2, 2026Yield to maturity3.491%Jan 8, 2026Yield to maturity3.505%Jan 14, 2026Yield to maturity3.519%Jan 21, 2026Yield to maturity3.608%Jan 27, 2026Yield to maturity3.578%Feb 2, 2026Yield to maturity3.578%Feb 6, 2026Yield to maturity3.501%Feb 12, 2026Yield to maturity3.470%Feb 19, 2026Yield to maturity3.469%Feb 25, 2026Yield to maturity3.468%Mar 3, 2026Yield to maturity3.498%Mar 9, 2026Yield to maturity3.577%Mar 13, 2026Yield to maturity3.737%Mar 19, 2026Yield to maturity3.802%Mar 25, 2026Yield to maturity3.885%Mar 31, 2026Yield to maturity3.805%Apr 6, 2026Yield to maturity3.873%Apr 10, 2026Yield to maturity3.824%Apr 16, 2026Yield to maturity3.792%Apr 22, 2026Yield to maturity3.810%Apr 28, 2026Yield to maturity3.845%May 4, 2026Yield to maturity3.967%May 8, 2026Yield to maturity3.901%May 14, 2026Yield to maturity4.007%May 20, 2026Yield to maturity4.045%May 27, 2026Yield to maturity4.032%Jun 2, 2026Yield to maturity4.053%Jun 8, 2026Yield to maturity4.148%Jun 12, 2026Yield to maturity4.097%Jun 18, 2026Yield to maturity4.195%Jun 25, 2026Yield to maturity4.124%Jul 1, 2026Yield to maturity4.185%Jul 8, 2026Yield to maturity4.210%Jul 14, 2026Yield to maturity4.196%Jul 20, 2026Yield to maturity4.201%Jul 24, 2026Yield to maturity4.325%Jul 30, 2026Yield to maturity4.230%Aug 5, 2026Yield to maturity4.177%Aug 11, 2026Yield to maturity4.202%Aug 17, 2026Yield to maturity4.168%Aug 21, 2026Yield to maturity4.214%Aug 27, 2026Yield to maturity4.218%Sep 2, 2026Yield to maturity4.350%Sep 9, 2026Yield to maturity4.380%Sep 15, 2026Yield to maturity4.624%Sep 21, 2026Yield to maturity4.700%Sep 25, 2026Yield to maturity4.778%Oct 1, 2026Yield to maturity4.720%Oct 7, 2026Yield to maturity4.687%Oct 14, 2026Yield to maturity4.745%Oct 20, 2026Yield to maturity4.711%Oct 26, 2026Yield to maturity4.654%Oct 30, 2026Yield to maturity4.525%Nov 5, 2026Yield to maturity4.438%Nov 9, 2026Yield to maturity4.515%

Price history

903 trading days to Nov 9, 2026

949698100102Mar 31, 2023Nov 9, 2026Mar 31, 2023Close100.094Apr 6, 2023Close101.156Apr 12, 2023Close100.719Apr 18, 2023Close99.719Apr 24, 2023Close100.094Apr 28, 2023Close100.406May 4, 2023Close101.406May 10, 2023Close101.063May 16, 2023Close100.438May 22, 2023Close99.313May 26, 2023Close98.469Jun 2, 2023Close98.844Jun 8, 2023Close98.750Jun 14, 2023Close97.938Jun 21, 2023Close98.375Jun 27, 2023Close98.063Jul 3, 2023Close97.375Jul 10, 2023Close97.219Jul 14, 2023Close98.063Jul 20, 2023Close97.875Jul 26, 2023Close97.750Aug 1, 2023Close97.219Aug 7, 2023Close97.594Aug 11, 2023Close97.000Aug 17, 2023Close96.531Aug 23, 2023Close96.719Aug 29, 2023Close97.094Sep 5, 2023Close96.688Sep 11, 2023Close96.563Sep 15, 2023Close96.375Sep 21, 2023Close95.781Sep 27, 2023Close95.500Oct 3, 2023Close95.125Oct 10, 2023Close95.906Oct 16, 2023Close95.531Oct 20, 2023Close95.031Oct 26, 2023Close95.250Nov 1, 2023Close95.781Nov 7, 2023Close96.281Nov 13, 2023Close95.813Nov 17, 2023Close96.625Nov 24, 2023Close96.438Nov 30, 2023Close97.094Dec 6, 2023Close97.781Dec 12, 2023Close97.406Dec 18, 2023Close98.469Dec 22, 2023Close98.813Dec 29, 2023Close98.906Jan 5, 2024Close98.281Jan 11, 2024Close98.750Jan 18, 2024Close98.313Jan 24, 2024Close98.094Jan 30, 2024Close98.375Feb 5, 2024Close97.906Feb 9, 2024Close97.844Feb 15, 2024Close97.531Feb 22, 2024Close97.094Feb 28, 2024Close97.313Mar 5, 2024Close97.781Mar 11, 2024Close97.969Mar 15, 2024Close97.094Mar 21, 2024Close97.375Mar 27, 2024Close97.625Apr 3, 2024Close97.156Apr 9, 2024Close96.969Apr 15, 2024Close96.063Apr 19, 2024Close96.031Apr 25, 2024Close95.844May 1, 2024Close96.094May 7, 2024Close96.688May 13, 2024Close96.625May 17, 2024Close96.844May 23, 2024Close96.531May 30, 2024Close96.375Jun 5, 2024Close97.250Jun 11, 2024Close96.938Jun 17, 2024Close97.281Jun 24, 2024Close97.406Jun 28, 2024Close97.188Jul 5, 2024Close97.625Jul 11, 2024Close98.000Jul 17, 2024Close98.250Jul 23, 2024Close98.000Jul 29, 2024Close98.281Aug 2, 2024Close99.875Aug 8, 2024Close99.156Aug 14, 2024Close99.656Aug 20, 2024Close99.531Aug 26, 2024Close99.688Aug 30, 2024Close99.563Sep 6, 2024Close100.344Sep 12, 2024Close100.438Sep 18, 2024Close100.469Sep 24, 2024Close100.531Sep 30, 2024Close100.125Oct 4, 2024Close99.313Oct 10, 2024Close99.063Oct 17, 2024Close99.125Oct 23, 2024Close98.656Oct 29, 2024Close98.500Nov 4, 2024Close98.313Nov 8, 2024Close98.156Nov 15, 2024Close97.938Nov 21, 2024Close97.875Nov 27, 2024Close98.313Dec 4, 2024Close98.563Dec 10, 2024Close98.500Dec 16, 2024Close98.125Dec 20, 2024Close97.844Dec 27, 2024Close97.688Jan 3, 2025Close97.844Jan 9, 2025Close97.813Jan 15, 2025Close97.813Jan 22, 2025Close97.844Jan 28, 2025Close98.125Feb 3, 2025Close98.031Feb 7, 2025Close98.000Feb 13, 2025Close97.938Feb 20, 2025Close98.094Feb 26, 2025Close98.781Mar 4, 2025Close99.031Mar 10, 2025Close99.156Mar 14, 2025Close98.875Mar 20, 2025Close99.094Mar 26, 2025Close98.906Apr 1, 2025Close99.344Apr 7, 2025Close99.688Apr 11, 2025Close98.969Apr 17, 2025Close99.500Apr 24, 2025Close99.531Apr 30, 2025Close100.125May 6, 2025Close99.625May 12, 2025Close99.031May 16, 2025Close99.094May 22, 2025Close99.063May 29, 2025Close99.250Jun 4, 2025Close99.438Jun 10, 2025Close99.063Jun 16, 2025Close99.188Jun 23, 2025Close99.531Jun 27, 2025Close99.719Jul 3, 2025Close99.406Jul 10, 2025Close99.469Jul 16, 2025Close99.406Jul 22, 2025Close99.625Jul 28, 2025Close99.375Aug 1, 2025Close99.875Aug 7, 2025Close99.813Aug 13, 2025Close99.938Aug 19, 2025Close99.781Aug 25, 2025Close99.875Aug 29, 2025Close100.094Sep 5, 2025Close100.344Sep 11, 2025Close100.313Sep 17, 2025Close100.281Sep 23, 2025Close100.125Sep 29, 2025Close100.000Oct 3, 2025Close100.125Oct 9, 2025Close100.063Oct 16, 2025Close100.469Oct 22, 2025Close100.438Oct 28, 2025Close100.313Nov 3, 2025Close100.063Nov 7, 2025Close100.156Nov 14, 2025Close100.063Nov 20, 2025Close100.188Nov 26, 2025Close100.344Dec 3, 2025Close100.313Dec 9, 2025Close100.000Dec 15, 2025Close100.219Dec 19, 2025Close100.281Dec 26, 2025Close100.281Jan 2, 2026Close100.281Jan 8, 2026Close100.250Jan 14, 2026Close100.219Jan 21, 2026Close100.031Jan 27, 2026Close100.094Feb 2, 2026Close100.094Feb 6, 2026Close100.250Feb 12, 2026Close100.313Feb 19, 2026Close100.313Feb 25, 2026Close100.313Mar 3, 2026Close100.250Mar 9, 2026Close100.094Mar 13, 2026Close99.781Mar 19, 2026Close99.656Mar 25, 2026Close99.500Mar 31, 2026Close99.656Apr 6, 2026Close99.531Apr 10, 2026Close99.625Apr 16, 2026Close99.688Apr 22, 2026Close99.656Apr 28, 2026Close99.594May 4, 2026Close99.375May 8, 2026Close99.500May 14, 2026Close99.313May 20, 2026Close99.250May 27, 2026Close99.281Jun 2, 2026Close99.250Jun 8, 2026Close99.094Jun 12, 2026Close99.188Jun 18, 2026Close99.031Jun 25, 2026Close99.156Jul 1, 2026Close99.063Jul 8, 2026Close99.031Jul 14, 2026Close99.063Jul 20, 2026Close99.063Jul 24, 2026Close98.875Jul 30, 2026Close99.031Aug 5, 2026Close99.125Aug 11, 2026Close99.094Aug 17, 2026Close99.156Aug 21, 2026Close99.094Aug 27, 2026Close99.094Sep 2, 2026Close98.906Sep 9, 2026Close98.875Sep 15, 2026Close98.531Sep 21, 2026Close98.438Sep 25, 2026Close98.344Oct 1, 2026Close98.438Oct 7, 2026Close98.500Oct 14, 2026Close98.438Oct 20, 2026Close98.500Oct 26, 2026Close98.594Oct 30, 2026Close98.781Nov 5, 2026Close98.906Nov 9, 2026Close98.813
The most recent 20 trading days of prices for 91282CGT2.
DateBidOfferClose
Nov 9, 202698.81398.82898.813
Nov 6, 202698.84498.85998.875
Nov 5, 202698.84498.84498.906
Nov 4, 202698.75098.76698.750
Nov 3, 202698.75098.75098.719
Nov 2, 202698.75098.76698.750
Oct 30, 202698.75098.75098.781
Oct 29, 202698.68898.70398.688
Oct 28, 202698.53198.54798.594
Oct 27, 202698.59498.60998.563
Oct 26, 202698.62598.62598.594
Oct 23, 202698.62598.64198.625
Oct 22, 202698.59498.60998.656
Oct 21, 202698.50098.50098.469
Oct 20, 202698.50098.51698.500
Oct 19, 202698.53198.53198.531
Oct 16, 202698.56398.57898.563
Oct 15, 202698.50098.51698.500
Oct 14, 202698.37598.39198.438
Oct 13, 202698.46998.46998.469

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 91282CGT2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 28, 2023Mar 31, 2023New issue$43.0bn$43.0bn2.48x3.665%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.