Treasury note

91282CHF1 · 3.75% due May 31, 2030

Original term
7-Year
Maturity
May 31, 2030
Coupon
3.750%
Pays
Semi-Annual
Dated
May 31, 2023
First coupon
Nov 30, 2023
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$40.69bn
Held stripped
$1.4m
Share stripped
<0.01%

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
4.702%
Modified duration
3.385 yr
DV01
0.0331
Convexity
13.666
Dirty price
97.837

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 3.464 years against a modified duration of 3.385.

Against the fitted curve

Priced 1.1 bp rich to the curve on that day, 3.78 cents per 100 of face.

That is -1.52 standard deviations from its own typical residual.

Yield to maturity, 822 observations

3.00%3.50%4.00%4.50%5.00%5.50%May 31, 2023Sep 10, 2026May 31, 2023Yield to maturity3.694%Jun 28, 2023Yield to maturity3.848%Jul 26, 2023Yield to maturity4.007%Aug 22, 2023Yield to maturity4.451%Sep 19, 2023Yield to maturity4.486%Oct 17, 2023Yield to maturity4.900%Nov 13, 2023Yield to maturity4.714%Dec 11, 2023Yield to maturity4.292%Jan 9, 2024Yield to maturity4.018%Feb 6, 2024Yield to maturity4.084%Mar 5, 2024Yield to maturity4.163%Apr 1, 2024Yield to maturity4.356%Apr 26, 2024Yield to maturity4.710%May 23, 2024Yield to maturity4.516%Jun 21, 2024Yield to maturity4.273%Jul 19, 2024Yield to maturity4.186%Aug 15, 2024Yield to maturity3.822%Sep 12, 2024Yield to maturity3.530%Oct 9, 2024Yield to maturity3.943%Nov 6, 2024Yield to maturity4.317%Dec 5, 2024Yield to maturity4.097%Jan 3, 2025Yield to maturity4.446%Jan 31, 2025Yield to maturity4.401%Feb 28, 2025Yield to maturity4.070%Mar 27, 2025Yield to maturity4.128%Apr 23, 2025Yield to maturity4.043%May 20, 2025Yield to maturity4.090%Jun 17, 2025Yield to maturity4.002%Jul 16, 2025Yield to maturity3.991%Aug 12, 2025Yield to maturity3.821%Sep 9, 2025Yield to maturity3.597%Oct 6, 2025Yield to maturity3.742%Nov 3, 2025Yield to maturity3.705%Dec 2, 2025Yield to maturity3.636%Dec 30, 2025Yield to maturity3.641%Jan 28, 2026Yield to maturity3.788%Feb 25, 2026Yield to maturity3.581%Mar 24, 2026Yield to maturity4.011%Apr 20, 2026Yield to maturity3.815%May 15, 2026Yield to maturity4.226%Jun 12, 2026Yield to maturity4.182%Jul 13, 2026Yield to maturity4.341%Aug 7, 2026Yield to maturity4.306%Sep 3, 2026Yield to maturity4.473%Sep 10, 2026Yield to maturity4.702%

Price history

822 trading days to Sep 10, 2026

92949698100102May 31, 2023Sep 10, 2026May 31, 2023Close100.344Jun 28, 2023Close99.406Jul 26, 2023Close98.469Aug 22, 2023Close95.938Sep 19, 2023Close95.781Oct 17, 2023Close93.563Nov 13, 2023Close94.625Dec 11, 2023Close96.969Jan 9, 2024Close98.500Feb 6, 2024Close98.156Mar 5, 2024Close97.750Apr 1, 2024Close96.750Apr 26, 2024Close94.969May 23, 2024Close96.000Jun 21, 2024Close97.281Jul 19, 2024Close97.750Aug 15, 2024Close99.625Sep 12, 2024Close101.125Oct 9, 2024Close99.031Nov 6, 2024Close97.219Dec 5, 2024Close98.313Jan 3, 2025Close96.688Jan 31, 2025Close96.938Feb 28, 2025Close98.500Mar 27, 2025Close98.250Apr 23, 2025Close98.656May 20, 2025Close98.469Jun 17, 2025Close98.875Jul 16, 2025Close98.938Aug 12, 2025Close99.688Sep 9, 2025Close100.656Oct 6, 2025Close100.031Nov 3, 2025Close100.188Dec 2, 2025Close100.469Dec 30, 2025Close100.438Jan 28, 2026Close99.844Feb 25, 2026Close100.656Mar 24, 2026Close99.000Apr 20, 2026Close99.750May 15, 2026Close98.250Jun 12, 2026Close98.438Jul 13, 2026Close97.906Aug 7, 2026Close98.063Sep 3, 2026Close97.531Sep 10, 2026Close96.781
The most recent 20 trading days of prices for 91282CHF1.
DateBidOfferClose
Sep 10, 202696.89196.87596.781
Sep 9, 202697.25097.21997.250
Sep 8, 202697.42297.40697.375
Sep 4, 202697.48497.46997.438
Sep 3, 202697.60997.59497.531
Sep 2, 202697.42297.40697.406
Sep 1, 202697.51697.50097.406
Aug 31, 202697.60997.59497.594
Aug 28, 202697.70397.68897.594
Aug 27, 202698.01698.00097.938
Aug 26, 202698.01698.00098.000
Aug 25, 202698.07898.06398.094
Aug 24, 202697.95397.93897.875
Aug 21, 202697.85997.84497.844
Aug 20, 202698.00097.96998.000
Aug 19, 202698.06398.03198.094
Aug 18, 202698.04798.03198.031
Aug 17, 202698.07898.06398.031
Aug 14, 202698.14198.12598.063
Aug 13, 202698.20398.18898.188

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 91282CHF1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 25, 2023May 31, 2023New issue$35.0bn$41.6bn2.61x3.827%

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.