Treasury note

91282CGZ8 · 3.5% due April 30, 2030

Original term
7-Year
Maturity
Apr 30, 2030
Coupon
3.500%
Pays
Semi-Annual
Dated
Apr 30, 2023
First coupon
Oct 31, 2023
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$38.04bn
Held stripped
$56.0m
Share stripped
0.15%

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
4.632%
Modified duration
3.218 yr
DV01
0.0311
Convexity
0.123
Dirty price
96.503

Where its rate sensitivity sits

<.01
0.01
0.03
0.07
2.45
0.73
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 3.289 years against a modified duration of 3.218.

Against the fitted curve

Priced 1.4 bp rich to the curve on that day, 4.39 cents per 100 of face.

That is -1.49 standard deviations from its own typical residual.

Yield to maturity, 882 observations

3.0%3.5%4.0%4.5%5.0%5.5%May 1, 2023Nov 9, 2026May 1, 2023Yield to maturity3.617%May 5, 2023Yield to maturity3.414%May 11, 2023Yield to maturity3.368%May 17, 2023Yield to maturity3.577%May 23, 2023Yield to maturity3.727%May 30, 2023Yield to maturity3.764%Jun 5, 2023Yield to maturity3.774%Jun 9, 2023Yield to maturity3.849%Jun 15, 2023Yield to maturity3.823%Jun 22, 2023Yield to maturity3.930%Jun 28, 2023Yield to maturity3.851%Jul 5, 2023Yield to maturity4.120%Jul 11, 2023Yield to maturity4.137%Jul 17, 2023Yield to maturity3.928%Jul 21, 2023Yield to maturity3.988%Jul 27, 2023Yield to maturity4.163%Aug 2, 2023Yield to maturity4.192%Aug 8, 2023Yield to maturity4.084%Aug 14, 2023Yield to maturity4.311%Aug 18, 2023Yield to maturity4.358%Aug 24, 2023Yield to maturity4.359%Aug 30, 2023Yield to maturity4.249%Sep 6, 2023Yield to maturity4.408%Sep 12, 2023Yield to maturity4.376%Sep 18, 2023Yield to maturity4.429%Sep 22, 2023Yield to maturity4.551%Sep 28, 2023Yield to maturity4.657%Oct 4, 2023Yield to maturity4.770%Oct 11, 2023Yield to maturity4.633%Oct 17, 2023Yield to maturity4.900%Oct 23, 2023Yield to maturity4.885%Oct 27, 2023Yield to maturity4.859%Nov 2, 2023Yield to maturity4.707%Nov 8, 2023Yield to maturity4.558%Nov 14, 2023Yield to maturity4.473%Nov 20, 2023Yield to maturity4.481%Nov 27, 2023Yield to maturity4.448%Dec 1, 2023Yield to maturity4.224%Dec 7, 2023Yield to maturity4.174%Dec 13, 2023Yield to maturity4.055%Dec 19, 2023Yield to maturity3.976%Dec 26, 2023Yield to maturity3.932%Jan 2, 2024Yield to maturity3.973%Jan 8, 2024Yield to maturity4.014%Jan 12, 2024Yield to maturity3.912%Jan 19, 2024Yield to maturity4.127%Jan 25, 2024Yield to maturity4.093%Jan 31, 2024Yield to maturity3.955%Feb 6, 2024Yield to maturity4.084%Feb 12, 2024Yield to maturity4.173%Feb 16, 2024Yield to maturity4.324%Feb 23, 2024Yield to maturity4.302%Feb 29, 2024Yield to maturity4.285%Mar 6, 2024Yield to maturity4.138%Mar 12, 2024Yield to maturity4.181%Mar 18, 2024Yield to maturity4.375%Mar 22, 2024Yield to maturity4.233%Mar 28, 2024Yield to maturity4.234%Apr 4, 2024Yield to maturity4.321%Apr 10, 2024Yield to maturity4.611%Apr 16, 2024Yield to maturity4.701%Apr 22, 2024Yield to maturity4.661%Apr 26, 2024Yield to maturity4.701%May 2, 2024Yield to maturity4.584%May 8, 2024Yield to maturity4.512%May 14, 2024Yield to maturity4.471%May 20, 2024Yield to maturity4.467%May 24, 2024Yield to maturity4.520%May 31, 2024Yield to maturity4.535%Jun 6, 2024Yield to maturity4.299%Jun 12, 2024Yield to maturity4.326%Jun 18, 2024Yield to maturity4.241%Jun 25, 2024Yield to maturity4.261%Jul 1, 2024Yield to maturity4.458%Jul 8, 2024Yield to maturity4.240%Jul 12, 2024Yield to maturity4.123%Jul 18, 2024Yield to maturity4.137%Jul 24, 2024Yield to maturity4.182%Jul 30, 2024Yield to maturity4.065%Aug 5, 2024Yield to maturity3.658%Aug 9, 2024Yield to maturity3.837%Aug 15, 2024Yield to maturity3.819%Aug 21, 2024Yield to maturity3.683%Aug 27, 2024Yield to maturity3.709%Sep 3, 2024Yield to maturity3.709%Sep 9, 2024Yield to maturity3.549%Sep 13, 2024Yield to maturity3.487%Sep 19, 2024Yield to maturity3.549%Sep 25, 2024Yield to maturity3.580%Oct 1, 2024Yield to maturity3.556%Oct 7, 2024Yield to maturity3.897%Oct 11, 2024Yield to maturity3.924%Oct 18, 2024Yield to maturity3.918%Oct 24, 2024Yield to maturity4.061%Oct 30, 2024Yield to maturity4.174%Nov 5, 2024Yield to maturity4.195%Nov 12, 2024Yield to maturity4.350%Nov 18, 2024Yield to maturity4.312%Nov 22, 2024Yield to maturity4.321%Nov 29, 2024Yield to maturity4.084%Dec 5, 2024Yield to maturity4.098%Dec 11, 2024Yield to maturity4.160%Dec 17, 2024Yield to maturity4.282%Dec 23, 2024Yield to maturity4.467%Dec 30, 2024Yield to maturity4.395%Jan 6, 2025Yield to maturity4.446%Jan 10, 2025Yield to maturity4.621%Jan 16, 2025Yield to maturity4.423%Jan 23, 2025Yield to maturity4.481%Jan 29, 2025Yield to maturity4.381%Feb 4, 2025Yield to maturity4.349%Feb 10, 2025Yield to maturity4.372%Feb 14, 2025Yield to maturity4.361%Feb 21, 2025Yield to maturity4.287%Feb 27, 2025Yield to maturity4.129%Mar 5, 2025Yield to maturity4.111%Mar 11, 2025Yield to maturity4.064%Mar 17, 2025Yield to maturity4.135%Mar 21, 2025Yield to maturity4.033%Mar 27, 2025Yield to maturity4.124%Apr 2, 2025Yield to maturity3.973%Apr 8, 2025Yield to maturity3.905%Apr 14, 2025Yield to maturity4.046%Apr 21, 2025Yield to maturity3.992%Apr 25, 2025Yield to maturity3.909%May 1, 2025Yield to maturity3.833%May 7, 2025Yield to maturity3.883%May 13, 2025Yield to maturity4.140%May 19, 2025Yield to maturity4.077%May 23, 2025Yield to maturity4.108%May 30, 2025Yield to maturity3.994%Jun 5, 2025Yield to maturity4.010%Jun 11, 2025Yield to maturity4.026%Jun 17, 2025Yield to maturity3.998%Jun 24, 2025Yield to maturity3.870%Jun 30, 2025Yield to maturity3.792%Jul 7, 2025Yield to maturity3.967%Jul 11, 2025Yield to maturity3.990%Jul 17, 2025Yield to maturity4.006%Jul 23, 2025Yield to maturity3.941%Jul 29, 2025Yield to maturity3.906%Aug 4, 2025Yield to maturity3.739%Aug 8, 2025Yield to maturity3.828%Aug 14, 2025Yield to maturity3.813%Aug 20, 2025Yield to maturity3.800%Aug 26, 2025Yield to maturity3.734%Sep 2, 2025Yield to maturity3.735%Sep 8, 2025Yield to maturity3.558%Sep 12, 2025Yield to maturity3.618%Sep 18, 2025Yield to maturity3.655%Sep 24, 2025Yield to maturity3.708%Sep 30, 2025Yield to maturity3.724%Oct 6, 2025Yield to maturity3.740%Oct 10, 2025Yield to maturity3.635%Oct 17, 2025Yield to maturity3.575%Oct 23, 2025Yield to maturity3.590%Oct 29, 2025Yield to maturity3.690%Nov 4, 2025Yield to maturity3.675%Nov 10, 2025Yield to maturity3.691%Nov 17, 2025Yield to maturity3.699%Nov 21, 2025Yield to maturity3.592%Nov 28, 2025Yield to maturity3.584%Dec 4, 2025Yield to maturity3.654%Dec 10, 2025Yield to maturity3.694%Dec 16, 2025Yield to maturity3.647%Dec 22, 2025Yield to maturity3.671%Dec 29, 2025Yield to maturity3.625%Jan 5, 2026Yield to maturity3.657%Jan 9, 2026Yield to maturity3.705%Jan 15, 2026Yield to maturity3.722%Jan 22, 2026Yield to maturity3.795%Jan 28, 2026Yield to maturity3.788%Feb 3, 2026Yield to maturity3.781%Feb 9, 2026Yield to maturity3.685%Feb 13, 2026Yield to maturity3.556%Feb 20, 2026Yield to maturity3.605%Feb 26, 2026Yield to maturity3.540%Mar 4, 2026Yield to maturity3.638%Mar 10, 2026Yield to maturity3.688%Mar 16, 2026Yield to maturity3.772%Mar 20, 2026Yield to maturity3.991%Mar 26, 2026Yield to maturity4.076%Apr 1, 2026Yield to maturity3.926%Apr 7, 2026Yield to maturity3.919%Apr 13, 2026Yield to maturity3.879%Apr 17, 2026Yield to maturity3.804%Apr 23, 2026Yield to maturity3.924%Apr 29, 2026Yield to maturity4.021%May 5, 2026Yield to maturity4.040%May 11, 2026Yield to maturity4.033%May 15, 2026Yield to maturity4.219%May 21, 2026Yield to maturity4.203%May 28, 2026Yield to maturity4.127%Jun 3, 2026Yield to maturity4.191%Jun 9, 2026Yield to maturity4.229%Jun 15, 2026Yield to maturity4.152%Jun 22, 2026Yield to maturity4.281%Jun 26, 2026Yield to maturity4.112%Jul 2, 2026Yield to maturity4.205%Jul 9, 2026Yield to maturity4.235%Jul 15, 2026Yield to maturity4.219%Jul 21, 2026Yield to maturity4.342%Jul 27, 2026Yield to maturity4.382%Jul 31, 2026Yield to maturity4.404%Aug 6, 2026Yield to maturity4.360%Aug 12, 2026Yield to maturity4.326%Aug 18, 2026Yield to maturity4.311%Aug 24, 2026Yield to maturity4.362%Aug 28, 2026Yield to maturity4.451%Sep 3, 2026Yield to maturity4.463%Sep 10, 2026Yield to maturity4.699%Sep 16, 2026Yield to maturity4.841%Sep 22, 2026Yield to maturity4.827%Sep 28, 2026Yield to maturity5.050%Oct 2, 2026Yield to maturity5.017%Oct 8, 2026Yield to maturity4.942%Oct 15, 2026Yield to maturity4.889%Oct 21, 2026Yield to maturity4.926%Oct 27, 2026Yield to maturity4.821%Nov 2, 2026Yield to maturity4.676%Nov 6, 2026Yield to maturity4.611%Nov 9, 2026Yield to maturity4.632%

Price history

882 trading days to Nov 9, 2026

9092949698100102May 1, 2023Nov 9, 2026May 1, 2023Close99.281May 5, 2023Close100.531May 11, 2023Close100.813May 17, 2023Close99.531May 23, 2023Close98.625May 30, 2023Close98.406Jun 5, 2023Close98.344Jun 9, 2023Close97.906Jun 15, 2023Close98.063Jun 22, 2023Close97.438Jun 28, 2023Close97.906Jul 5, 2023Close96.344Jul 11, 2023Close96.250Jul 17, 2023Close97.469Jul 21, 2023Close97.125Jul 27, 2023Close96.125Aug 2, 2023Close95.969Aug 8, 2023Close96.594Aug 14, 2023Close95.313Aug 18, 2023Close95.063Aug 24, 2023Close95.063Aug 30, 2023Close95.688Sep 6, 2023Close94.813Sep 12, 2023Close95.000Sep 18, 2023Close94.719Sep 22, 2023Close94.063Sep 28, 2023Close93.500Oct 4, 2023Close92.906Oct 11, 2023Close93.656Oct 17, 2023Close92.250Oct 23, 2023Close92.344Oct 27, 2023Close92.500Nov 2, 2023Close93.313Nov 8, 2023Close94.125Nov 14, 2023Close94.594Nov 20, 2023Close94.563Nov 27, 2023Close94.750Dec 1, 2023Close95.969Dec 7, 2023Close96.250Dec 13, 2023Close96.906Dec 19, 2023Close97.344Dec 26, 2023Close97.594Jan 2, 2024Close97.375Jan 8, 2024Close97.156Jan 12, 2024Close97.719Jan 19, 2024Close96.563Jan 25, 2024Close96.750Jan 31, 2024Close97.500Feb 6, 2024Close96.813Feb 12, 2024Close96.344Feb 16, 2024Close95.563Feb 23, 2024Close95.688Feb 29, 2024Close95.781Mar 6, 2024Close96.563Mar 12, 2024Close96.344Mar 18, 2024Close95.344Mar 22, 2024Close96.094Mar 28, 2024Close96.094Apr 4, 2024Close95.656Apr 10, 2024Close94.188Apr 16, 2024Close93.750Apr 22, 2024Close93.969Apr 26, 2024Close93.781May 2, 2024Close94.375May 8, 2024Close94.750May 14, 2024Close94.969May 20, 2024Close95.000May 24, 2024Close94.750May 31, 2024Close94.688Jun 6, 2024Close95.875Jun 12, 2024Close95.750Jun 18, 2024Close96.188Jun 25, 2024Close96.094Jul 1, 2024Close95.125Jul 8, 2024Close96.219Jul 12, 2024Close96.813Jul 18, 2024Close96.750Jul 24, 2024Close96.531Jul 30, 2024Close97.125Aug 5, 2024Close99.188Aug 9, 2024Close98.281Aug 15, 2024Close98.375Aug 21, 2024Close99.063Aug 27, 2024Close98.938Sep 3, 2024Close98.938Sep 9, 2024Close99.750Sep 13, 2024Close100.063Sep 19, 2024Close99.750Sep 25, 2024Close99.594Oct 1, 2024Close99.719Oct 7, 2024Close98.031Oct 11, 2024Close97.906Oct 18, 2024Close97.938Oct 24, 2024Close97.250Oct 30, 2024Close96.719Nov 5, 2024Close96.625Nov 12, 2024Close95.906Nov 18, 2024Close96.094Nov 22, 2024Close96.063Nov 29, 2024Close97.188Dec 5, 2024Close97.125Dec 11, 2024Close96.844Dec 17, 2024Close96.281Dec 23, 2024Close95.438Dec 30, 2024Close95.781Jan 6, 2025Close95.563Jan 10, 2025Close94.781Jan 16, 2025Close95.688Jan 23, 2025Close95.438Jan 29, 2025Close95.906Feb 4, 2025Close96.063Feb 10, 2025Close95.969Feb 14, 2025Close96.031Feb 21, 2025Close96.375Feb 27, 2025Close97.094Mar 5, 2025Close97.188Mar 11, 2025Close97.406Mar 17, 2025Close97.094Mar 21, 2025Close97.563Mar 27, 2025Close97.156Apr 2, 2025Close97.844Apr 8, 2025Close98.156Apr 14, 2025Close97.531Apr 21, 2025Close97.781Apr 25, 2025Close98.156May 1, 2025Close98.500May 7, 2025Close98.281May 13, 2025Close97.156May 19, 2025Close97.438May 23, 2025Close97.313May 30, 2025Close97.813Jun 5, 2025Close97.750Jun 11, 2025Close97.688Jun 17, 2025Close97.813Jun 24, 2025Close98.375Jun 30, 2025Close98.719Jul 7, 2025Close97.969Jul 11, 2025Close97.875Jul 17, 2025Close97.813Jul 23, 2025Close98.094Jul 29, 2025Close98.250Aug 4, 2025Close98.969Aug 8, 2025Close98.594Aug 14, 2025Close98.656Aug 20, 2025Close98.719Aug 26, 2025Close99.000Sep 2, 2025Close99.000Sep 8, 2025Close99.750Sep 12, 2025Close99.500Sep 18, 2025Close99.344Sep 24, 2025Close99.125Sep 30, 2025Close99.063Oct 6, 2025Close99.000Oct 10, 2025Close99.438Oct 17, 2025Close99.688Oct 23, 2025Close99.625Oct 29, 2025Close99.219Nov 4, 2025Close99.281Nov 10, 2025Close99.219Nov 17, 2025Close99.188Nov 21, 2025Close99.625Nov 28, 2025Close99.656Dec 4, 2025Close99.375Dec 10, 2025Close99.219Dec 16, 2025Close99.406Dec 22, 2025Close99.313Dec 29, 2025Close99.500Jan 5, 2026Close99.375Jan 9, 2026Close99.188Jan 15, 2026Close99.125Jan 22, 2026Close98.844Jan 28, 2026Close98.875Feb 3, 2026Close98.906Feb 9, 2026Close99.281Feb 13, 2026Close99.781Feb 20, 2026Close99.594Feb 26, 2026Close99.844Mar 4, 2026Close99.469Mar 10, 2026Close99.281Mar 16, 2026Close98.969Mar 20, 2026Close98.156Mar 26, 2026Close97.844Apr 1, 2026Close98.406Apr 7, 2026Close98.438Apr 13, 2026Close98.594Apr 17, 2026Close98.875Apr 23, 2026Close98.438Apr 29, 2026Close98.094May 5, 2026Close98.031May 11, 2026Close98.063May 15, 2026Close97.406May 21, 2026Close97.469May 28, 2026Close97.750Jun 3, 2026Close97.531Jun 9, 2026Close97.406Jun 15, 2026Close97.688Jun 22, 2026Close97.250Jun 26, 2026Close97.844Jul 2, 2026Close97.531Jul 9, 2026Close97.438Jul 15, 2026Close97.500Jul 21, 2026Close97.094Jul 27, 2026Close96.969Jul 31, 2026Close96.906Aug 6, 2026Close97.063Aug 12, 2026Close97.188Aug 18, 2026Close97.250Aug 24, 2026Close97.094Aug 28, 2026Close96.813Sep 3, 2026Close96.781Sep 10, 2026Close96.031Sep 16, 2026Close95.594Sep 22, 2026Close95.656Sep 28, 2026Close94.969Oct 2, 2026Close95.094Oct 8, 2026Close95.344Oct 15, 2026Close95.531Oct 21, 2026Close95.438Oct 27, 2026Close95.781Nov 2, 2026Close96.250Nov 6, 2026Close96.469Nov 9, 2026Close96.406
The most recent 20 trading days of prices for 91282CGZ8.
DateBidOfferClose
Nov 9, 202696.37596.39196.406
Nov 6, 202696.43896.46996.469
Nov 5, 202696.46996.50096.625
Nov 4, 202696.21996.25096.313
Nov 3, 202696.18896.20396.156
Nov 2, 202696.28196.29796.250
Oct 30, 202696.12596.14196.219
Oct 29, 202696.00096.01695.969
Oct 28, 202695.65695.67295.750
Oct 27, 202695.81395.82895.781
Oct 26, 202695.81395.84495.813
Oct 23, 202695.84495.87595.875
Oct 22, 202695.81395.82895.969
Oct 21, 202695.50095.53195.438
Oct 20, 202695.53195.56395.500
Oct 19, 202695.50095.53195.500
Oct 16, 202695.65695.67295.656
Oct 15, 202695.53195.56395.531
Oct 14, 202695.12595.14195.313
Oct 13, 202695.25095.28195.313

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 91282CGZ8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Apr 27, 2023May 1, 2023New issue$35.0bn$38.4bn2.41x3.563%

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.