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
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$38.04bn
Held stripped
$41.2m
Share stripped
0.11%

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, September 10, 2026

Yield to maturity
4.699%
Modified duration
3.319 yr
DV01
0.0323
Convexity
13.160
Dirty price
97.306

Where its rate sensitivity sits

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 3.394 years against a modified duration of 3.319.

Against the fitted curve

Priced 0.9 bp rich to the curve on that day, 2.86 cents per 100 of face.

That is -1.45 standard deviations from its own typical residual.

Yield to maturity, 843 observations

3.00%3.50%4.00%4.50%5.00%5.50%May 1, 2023Sep 10, 2026May 1, 2023Yield to maturity3.617%May 30, 2023Yield to maturity3.764%Jun 28, 2023Yield to maturity3.851%Jul 27, 2023Yield to maturity4.163%Aug 24, 2023Yield to maturity4.359%Sep 22, 2023Yield to maturity4.551%Oct 23, 2023Yield to maturity4.885%Nov 20, 2023Yield to maturity4.481%Dec 19, 2023Yield to maturity3.976%Jan 19, 2024Yield to maturity4.127%Feb 16, 2024Yield to maturity4.324%Mar 18, 2024Yield to maturity4.375%Apr 15, 2024Yield to maturity4.657%May 13, 2024Yield to maturity4.508%Jun 11, 2024Yield to maturity4.413%Jul 11, 2024Yield to maturity4.147%Aug 8, 2024Yield to maturity3.874%Sep 6, 2024Yield to maturity3.561%Oct 4, 2024Yield to maturity3.846%Nov 4, 2024Yield to maturity4.202%Dec 4, 2024Yield to maturity4.098%Jan 3, 2025Yield to maturity4.439%Feb 3, 2025Yield to maturity4.383%Mar 4, 2025Yield to maturity4.041%Apr 1, 2025Yield to maturity3.931%Apr 29, 2025Yield to maturity3.791%May 28, 2025Yield to maturity4.079%Jun 26, 2025Yield to maturity3.806%Jul 25, 2025Yield to maturity3.950%Aug 22, 2025Yield to maturity3.749%Sep 22, 2025Yield to maturity3.685%Oct 21, 2025Yield to maturity3.545%Nov 19, 2025Yield to maturity3.684%Dec 18, 2025Yield to maturity3.624%Jan 20, 2026Yield to maturity3.803%Feb 18, 2026Yield to maturity3.604%Mar 18, 2026Yield to maturity3.839%Apr 15, 2026Yield to maturity3.854%May 13, 2026Yield to maturity4.086%Jun 11, 2026Yield to maturity4.150%Jul 13, 2026Yield to maturity4.337%Aug 10, 2026Yield to maturity4.363%Sep 8, 2026Yield to maturity4.514%Sep 10, 2026Yield to maturity4.699%

Price history

843 trading days to Sep 10, 2026

9092949698100102May 1, 2023Sep 10, 2026May 1, 2023Close99.281May 30, 2023Close98.406Jun 28, 2023Close97.906Jul 27, 2023Close96.125Aug 24, 2023Close95.063Sep 22, 2023Close94.063Oct 23, 2023Close92.344Nov 20, 2023Close94.563Dec 19, 2023Close97.344Jan 19, 2024Close96.563Feb 16, 2024Close95.563Mar 18, 2024Close95.344Apr 15, 2024Close93.969May 13, 2024Close94.781Jun 11, 2024Close95.313Jul 11, 2024Close96.688Aug 8, 2024Close98.094Sep 6, 2024Close99.688Oct 4, 2024Close98.281Nov 4, 2024Close96.594Dec 4, 2024Close97.125Jan 3, 2025Close95.594Feb 3, 2025Close95.906Mar 4, 2025Close97.500Apr 1, 2025Close98.031Apr 29, 2025Close98.688May 28, 2025Close97.438Jun 26, 2025Close98.656Jul 25, 2025Close98.063Aug 22, 2025Close98.938Sep 22, 2025Close99.219Oct 21, 2025Close99.813Nov 19, 2025Close99.250Dec 18, 2025Close99.500Jan 20, 2026Close98.813Feb 18, 2026Close99.594Mar 18, 2026Close98.719Apr 15, 2026Close98.688May 13, 2026Close97.875Jun 11, 2026Close97.688Jul 13, 2026Close97.094Aug 10, 2026Close97.063Sep 8, 2026Close96.625Sep 10, 2026Close96.031
The most recent 20 trading days of prices for 91282CGZ8.
DateBidOfferClose
Sep 10, 202696.15696.12596.031
Sep 9, 202696.50096.46996.500
Sep 8, 202696.67296.65696.625
Sep 4, 202696.71996.68896.688
Sep 3, 202696.85996.84496.781
Sep 2, 202696.67296.65696.656
Sep 1, 202696.73496.71996.625
Aug 31, 202696.82896.81396.813
Aug 28, 202696.92296.90696.813
Aug 27, 202697.23497.21997.156
Aug 26, 202697.23497.21997.188
Aug 25, 202697.29797.28197.281
Aug 24, 202697.17297.15697.094
Aug 21, 202697.07897.06397.063
Aug 20, 202697.21997.18897.219
Aug 19, 202697.26697.25097.281
Aug 18, 202697.26697.25097.250
Aug 17, 202697.29797.28197.219
Aug 14, 202697.35997.34497.281
Aug 13, 202697.39197.37597.375

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

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.

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.