Treasury note

91282CHW4 · 4.125% due August 31, 2030

Original term
7-Year
Maturity
Aug 31, 2030
Coupon
4.125%
Pays
Semi-Annual
Dated
Aug 31, 2023
First coupon
Feb 29, 2024
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$39.74bn
Held stripped
$0.0m
Share stripped
0.00%

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
4.658%
Modified duration
3.449 yr
DV01
0.0341
Convexity
0.142
Dirty price
98.965

Where its rate sensitivity sits

<.01
0.01
0.03
0.08
2.07
1.34
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 3.530 years against a modified duration of 3.449.

Against the fitted curve

Priced 0.3 bp rich to the curve on that day, 0.93 cents per 100 of face.

That is -0.80 standard deviations from its own typical residual.

Yield to maturity, 797 observations

3.0%3.5%4.0%4.5%5.0%5.5%Aug 31, 2023Nov 9, 2026Aug 31, 2023Yield to maturity4.187%Sep 7, 2023Yield to maturity4.350%Sep 13, 2023Yield to maturity4.340%Sep 19, 2023Yield to maturity4.468%Sep 25, 2023Yield to maturity4.609%Sep 29, 2023Yield to maturity4.637%Oct 5, 2023Yield to maturity4.736%Oct 12, 2023Yield to maturity4.737%Oct 18, 2023Yield to maturity4.954%Oct 24, 2023Yield to maturity4.872%Oct 30, 2023Yield to maturity4.896%Nov 3, 2023Yield to maturity4.566%Nov 9, 2023Yield to maturity4.693%Nov 15, 2023Yield to maturity4.573%Nov 21, 2023Yield to maturity4.453%Nov 28, 2023Yield to maturity4.372%Dec 4, 2023Yield to maturity4.307%Dec 8, 2023Yield to maturity4.286%Dec 14, 2023Yield to maturity3.942%Dec 20, 2023Yield to maturity3.889%Dec 27, 2023Yield to maturity3.819%Jan 3, 2024Yield to maturity3.930%Jan 9, 2024Yield to maturity4.016%Jan 16, 2024Yield to maturity4.027%Jan 22, 2024Yield to maturity4.081%Jan 26, 2024Yield to maturity4.135%Feb 1, 2024Yield to maturity3.848%Feb 7, 2024Yield to maturity4.103%Feb 13, 2024Yield to maturity4.346%Feb 20, 2024Yield to maturity4.291%Feb 26, 2024Yield to maturity4.331%Mar 1, 2024Yield to maturity4.208%Mar 7, 2024Yield to maturity4.108%Mar 13, 2024Yield to maturity4.214%Mar 19, 2024Yield to maturity4.326%Mar 25, 2024Yield to maturity4.265%Apr 1, 2024Yield to maturity4.356%Apr 5, 2024Yield to maturity4.407%Apr 11, 2024Yield to maturity4.615%Apr 17, 2024Yield to maturity4.622%Apr 23, 2024Yield to maturity4.635%Apr 29, 2024Yield to maturity4.659%May 3, 2024Yield to maturity4.503%May 9, 2024Yield to maturity4.474%May 15, 2024Yield to maturity4.365%May 21, 2024Yield to maturity4.435%May 28, 2024Yield to maturity4.582%Jun 3, 2024Yield to maturity4.431%Jun 7, 2024Yield to maturity4.455%Jun 13, 2024Yield to maturity4.245%Jun 20, 2024Yield to maturity4.269%Jun 26, 2024Yield to maturity4.345%Jul 2, 2024Yield to maturity4.411%Jul 9, 2024Yield to maturity4.264%Jul 15, 2024Yield to maturity4.165%Jul 19, 2024Yield to maturity4.189%Jul 25, 2024Yield to maturity4.189%Jul 31, 2024Yield to maturity3.996%Aug 6, 2024Yield to maturity3.776%Aug 12, 2024Yield to maturity3.792%Aug 16, 2024Yield to maturity3.803%Aug 22, 2024Yield to maturity3.768%Aug 28, 2024Yield to maturity3.727%Sep 4, 2024Yield to maturity3.633%Sep 10, 2024Yield to maturity3.505%Sep 16, 2024Yield to maturity3.480%Sep 20, 2024Yield to maturity3.560%Sep 26, 2024Yield to maturity3.628%Oct 2, 2024Yield to maturity3.615%Oct 8, 2024Yield to maturity3.921%Oct 15, 2024Yield to maturity3.908%Oct 21, 2024Yield to maturity4.040%Oct 25, 2024Yield to maturity4.124%Oct 31, 2024Yield to maturity4.197%Nov 6, 2024Yield to maturity4.333%Nov 13, 2024Yield to maturity4.352%Nov 19, 2024Yield to maturity4.297%Nov 25, 2024Yield to maturity4.204%Dec 2, 2024Yield to maturity4.124%Dec 6, 2024Yield to maturity4.075%Dec 12, 2024Yield to maturity4.223%Dec 18, 2024Yield to maturity4.425%Dec 24, 2024Yield to maturity4.496%Dec 31, 2024Yield to maturity4.433%Jan 7, 2025Yield to maturity4.511%Jan 13, 2025Yield to maturity4.660%Jan 17, 2025Yield to maturity4.468%Jan 24, 2025Yield to maturity4.482%Jan 30, 2025Yield to maturity4.360%Feb 5, 2025Yield to maturity4.290%Feb 11, 2025Yield to maturity4.413%Feb 18, 2025Yield to maturity4.447%Feb 24, 2025Yield to maturity4.279%Feb 28, 2025Yield to maturity4.086%Mar 6, 2025Yield to maturity4.125%Mar 12, 2025Yield to maturity4.138%Mar 18, 2025Yield to maturity4.125%Mar 24, 2025Yield to maturity4.144%Mar 28, 2025Yield to maturity4.034%Apr 3, 2025Yield to maturity3.795%Apr 9, 2025Yield to maturity4.105%Apr 15, 2025Yield to maturity4.039%Apr 22, 2025Yield to maturity4.039%Apr 28, 2025Yield to maturity3.869%May 2, 2025Yield to maturity3.973%May 8, 2025Yield to maturity4.045%May 14, 2025Yield to maturity4.210%May 20, 2025Yield to maturity4.111%May 27, 2025Yield to maturity4.071%Jun 2, 2025Yield to maturity4.057%Jun 6, 2025Yield to maturity4.157%Jun 12, 2025Yield to maturity3.997%Jun 18, 2025Yield to maturity4.010%Jun 25, 2025Yield to maturity3.869%Jul 1, 2025Yield to maturity3.861%Jul 8, 2025Yield to maturity4.009%Jul 14, 2025Yield to maturity4.002%Jul 18, 2025Yield to maturity3.981%Jul 24, 2025Yield to maturity3.994%Jul 30, 2025Yield to maturity3.981%Aug 5, 2025Yield to maturity3.783%Aug 11, 2025Yield to maturity3.843%Aug 15, 2025Yield to maturity3.863%Aug 21, 2025Yield to maturity3.876%Aug 27, 2025Yield to maturity3.732%Sep 3, 2025Yield to maturity3.710%Sep 9, 2025Yield to maturity3.619%Sep 15, 2025Yield to maturity3.618%Sep 19, 2025Yield to maturity3.699%Sep 25, 2025Yield to maturity3.774%Oct 1, 2025Yield to maturity3.689%Oct 7, 2025Yield to maturity3.716%Oct 14, 2025Yield to maturity3.603%Oct 20, 2025Yield to maturity3.587%Oct 24, 2025Yield to maturity3.613%Oct 30, 2025Yield to maturity3.725%Nov 5, 2025Yield to maturity3.766%Nov 12, 2025Yield to maturity3.672%Nov 18, 2025Yield to maturity3.692%Nov 24, 2025Yield to maturity3.606%Dec 1, 2025Yield to maturity3.668%Dec 5, 2025Yield to maturity3.710%Dec 11, 2025Yield to maturity3.709%Dec 17, 2025Yield to maturity3.686%Dec 23, 2025Yield to maturity3.728%Dec 30, 2025Yield to maturity3.661%Jan 6, 2026Yield to maturity3.696%Jan 12, 2026Yield to maturity3.746%Jan 16, 2026Yield to maturity3.811%Jan 23, 2026Yield to maturity3.817%Jan 29, 2026Yield to maturity3.787%Feb 4, 2026Yield to maturity3.816%Feb 10, 2026Yield to maturity3.681%Feb 17, 2026Yield to maturity3.604%Feb 23, 2026Yield to maturity3.565%Feb 27, 2026Yield to maturity3.504%Mar 5, 2026Yield to maturity3.705%Mar 11, 2026Yield to maturity3.772%Mar 17, 2026Yield to maturity3.778%Mar 23, 2026Yield to maturity3.954%Mar 27, 2026Yield to maturity4.054%Apr 2, 2026Yield to maturity3.929%Apr 8, 2026Yield to maturity3.913%Apr 14, 2026Yield to maturity3.858%Apr 20, 2026Yield to maturity3.833%Apr 24, 2026Yield to maturity3.895%Apr 30, 2026Yield to maturity3.997%May 6, 2026Yield to maturity3.981%May 12, 2026Yield to maturity4.116%May 18, 2026Yield to maturity4.244%May 22, 2026Yield to maturity4.253%May 29, 2026Yield to maturity4.132%Jun 4, 2026Yield to maturity4.172%Jun 10, 2026Yield to maturity4.254%Jun 16, 2026Yield to maturity4.140%Jun 23, 2026Yield to maturity4.264%Jun 29, 2026Yield to maturity4.140%Jul 6, 2026Yield to maturity4.190%Jul 10, 2026Yield to maturity4.290%Jul 16, 2026Yield to maturity4.257%Jul 22, 2026Yield to maturity4.401%Jul 28, 2026Yield to maturity4.352%Aug 3, 2026Yield to maturity4.378%Aug 7, 2026Yield to maturity4.328%Aug 13, 2026Yield to maturity4.286%Aug 19, 2026Yield to maturity4.321%Aug 25, 2026Yield to maturity4.322%Aug 31, 2026Yield to maturity4.470%Sep 4, 2026Yield to maturity4.515%Sep 11, 2026Yield to maturity4.763%Sep 17, 2026Yield to maturity4.783%Sep 23, 2026Yield to maturity5.009%Sep 29, 2026Yield to maturity5.049%Oct 5, 2026Yield to maturity5.034%Oct 9, 2026Yield to maturity5.002%Oct 16, 2026Yield to maturity4.877%Oct 22, 2026Yield to maturity4.770%Oct 28, 2026Yield to maturity4.845%Nov 3, 2026Yield to maturity4.729%Nov 9, 2026Yield to maturity4.658%

Price history

797 trading days to Nov 9, 2026

949698100102104Aug 31, 2023Nov 9, 2026Aug 31, 2023Close99.625Sep 7, 2023Close98.656Sep 13, 2023Close98.719Sep 19, 2023Close97.969Sep 25, 2023Close97.156Sep 29, 2023Close97.000Oct 5, 2023Close96.438Oct 12, 2023Close96.438Oct 18, 2023Close95.219Oct 24, 2023Close95.688Oct 30, 2023Close95.563Nov 3, 2023Close97.438Nov 9, 2023Close96.719Nov 15, 2023Close97.406Nov 21, 2023Close98.094Nov 28, 2023Close98.563Dec 4, 2023Close98.938Dec 8, 2023Close99.063Dec 14, 2023Close101.063Dec 20, 2023Close101.375Dec 27, 2023Close101.781Jan 3, 2024Close101.125Jan 9, 2024Close100.625Jan 16, 2024Close100.563Jan 22, 2024Close100.250Jan 26, 2024Close99.938Feb 1, 2024Close101.594Feb 7, 2024Close100.125Feb 13, 2024Close98.750Feb 20, 2024Close99.063Feb 26, 2024Close98.844Mar 1, 2024Close99.531Mar 7, 2024Close100.094Mar 13, 2024Close99.500Mar 19, 2024Close98.875Mar 25, 2024Close99.219Apr 1, 2024Close98.719Apr 5, 2024Close98.438Apr 11, 2024Close97.313Apr 17, 2024Close97.281Apr 23, 2024Close97.219Apr 29, 2024Close97.094May 3, 2024Close97.938May 9, 2024Close98.094May 15, 2024Close98.688May 21, 2024Close98.313May 28, 2024Close97.531Jun 3, 2024Close98.344Jun 7, 2024Close98.219Jun 13, 2024Close99.344Jun 20, 2024Close99.219Jun 26, 2024Close98.813Jul 2, 2024Close98.469Jul 9, 2024Close99.250Jul 15, 2024Close99.781Jul 19, 2024Close99.656Jul 25, 2024Close99.656Jul 31, 2024Close100.688Aug 6, 2024Close101.875Aug 12, 2024Close101.781Aug 16, 2024Close101.719Aug 22, 2024Close101.906Aug 28, 2024Close102.125Sep 4, 2024Close102.625Sep 10, 2024Close103.313Sep 16, 2024Close103.438Sep 20, 2024Close103.000Sep 26, 2024Close102.625Oct 2, 2024Close102.688Oct 8, 2024Close101.063Oct 15, 2024Close101.125Oct 21, 2024Close100.438Oct 25, 2024Close100.000Oct 31, 2024Close99.625Nov 6, 2024Close98.938Nov 13, 2024Close98.844Nov 19, 2024Close99.125Nov 25, 2024Close99.594Dec 2, 2024Close100.000Dec 6, 2024Close100.250Dec 12, 2024Close99.500Dec 18, 2024Close98.500Dec 24, 2024Close98.156Dec 31, 2024Close98.469Jan 7, 2025Close98.094Jan 13, 2025Close97.375Jan 17, 2025Close98.313Jan 24, 2025Close98.250Jan 30, 2025Close98.844Feb 5, 2025Close99.188Feb 11, 2025Close98.594Feb 18, 2025Close98.438Feb 24, 2025Close99.250Feb 28, 2025Close100.188Mar 6, 2025Close100.000Mar 12, 2025Close99.938Mar 18, 2025Close100.000Mar 24, 2025Close99.906Mar 28, 2025Close100.438Apr 3, 2025Close101.594Apr 9, 2025Close100.094Apr 15, 2025Close100.406Apr 22, 2025Close100.406Apr 28, 2025Close101.219May 2, 2025Close100.719May 8, 2025Close100.375May 14, 2025Close99.594May 20, 2025Close100.063May 27, 2025Close100.250Jun 2, 2025Close100.313Jun 6, 2025Close99.844Jun 12, 2025Close100.594Jun 18, 2025Close100.531Jun 25, 2025Close101.188Jul 1, 2025Close101.219Jul 8, 2025Close100.531Jul 14, 2025Close100.563Jul 18, 2025Close100.656Jul 24, 2025Close100.594Jul 30, 2025Close100.656Aug 5, 2025Close101.563Aug 11, 2025Close101.281Aug 15, 2025Close101.188Aug 21, 2025Close101.125Aug 27, 2025Close101.781Sep 3, 2025Close101.875Sep 9, 2025Close102.281Sep 15, 2025Close102.281Sep 19, 2025Close101.906Sep 25, 2025Close101.563Oct 1, 2025Close101.938Oct 7, 2025Close101.813Oct 14, 2025Close102.313Oct 20, 2025Close102.375Oct 24, 2025Close102.250Oct 30, 2025Close101.750Nov 5, 2025Close101.563Nov 12, 2025Close101.969Nov 18, 2025Close101.875Nov 24, 2025Close102.250Dec 1, 2025Close101.969Dec 5, 2025Close101.781Dec 11, 2025Close101.781Dec 17, 2025Close101.875Dec 23, 2025Close101.688Dec 30, 2025Close101.969Jan 6, 2026Close101.813Jan 12, 2026Close101.594Jan 16, 2026Close101.313Jan 23, 2026Close101.281Jan 29, 2026Close101.406Feb 4, 2026Close101.281Feb 10, 2026Close101.844Feb 17, 2026Close102.156Feb 23, 2026Close102.313Feb 27, 2026Close102.563Mar 5, 2026Close101.719Mar 11, 2026Close101.438Mar 17, 2026Close101.406Mar 23, 2026Close100.688Mar 27, 2026Close100.281Apr 2, 2026Close100.781Apr 8, 2026Close100.844Apr 14, 2026Close101.063Apr 20, 2026Close101.156Apr 24, 2026Close100.906Apr 30, 2026Close100.500May 6, 2026Close100.563May 12, 2026Close100.031May 18, 2026Close99.531May 22, 2026Close99.500May 29, 2026Close99.969Jun 4, 2026Close99.813Jun 10, 2026Close99.500Jun 16, 2026Close99.938Jun 23, 2026Close99.469Jun 29, 2026Close99.938Jul 6, 2026Close99.750Jul 10, 2026Close99.375Jul 16, 2026Close99.500Jul 22, 2026Close98.969Jul 28, 2026Close99.156Aug 3, 2026Close99.063Aug 7, 2026Close99.250Aug 13, 2026Close99.406Aug 19, 2026Close99.281Aug 25, 2026Close99.281Aug 31, 2026Close98.750Sep 4, 2026Close98.594Sep 11, 2026Close97.719Sep 17, 2026Close97.656Sep 23, 2026Close96.875Sep 29, 2026Close96.750Oct 5, 2026Close96.813Oct 9, 2026Close96.938Oct 16, 2026Close97.375Oct 22, 2026Close97.750Oct 28, 2026Close97.500Nov 3, 2026Close97.906Nov 9, 2026Close98.156
The most recent 20 trading days of prices for 91282CHW4.
DateBidOfferClose
Nov 9, 202698.15698.17298.156
Nov 6, 202698.25098.26698.250
Nov 5, 202698.28198.29798.438
Nov 4, 202698.03198.04798.094
Nov 3, 202697.93897.96997.906
Nov 2, 202698.06398.09498.031
Oct 30, 202697.90697.92298.000
Oct 29, 202697.75097.78197.750
Oct 28, 202697.40697.42297.500
Oct 27, 202697.56397.57897.531
Oct 26, 202697.56397.59497.563
Oct 23, 202697.62597.64197.625
Oct 22, 202697.56397.57897.750
Oct 21, 202697.25097.26697.156
Oct 20, 202697.28197.29797.219
Oct 19, 202697.25097.26697.219
Oct 16, 202697.37597.40697.375
Oct 15, 202697.25097.28197.281
Oct 14, 202696.81396.82897.000
Oct 13, 202696.96996.98497.000

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 91282CHW4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 29, 2023Aug 31, 2023New issue$36.0bn$39.7bn2.66x4.212%

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.