Treasury note

91282CJF9 · 4.875% due October 31, 2028

Original term
5-Year
Maturity
Oct 31, 2028
Coupon
4.875%
Pays
Semi-Annual
Dated
Oct 31, 2023
First coupon
Apr 30, 2024
Priced through
Sep 30, 2026
Analyzed through
Sep 30, 2026

Statement of August 31, 2026

Amount outstanding
$51.84bn
Held stripped
$67.2m
Share stripped
0.13%

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 30, 2026

Yield to maturity
4.905%
Modified duration
1.918 yr
DV01
0.0196
Convexity
0.0477
Dirty price
101.978

Where its rate sensitivity sits

<.01
0.01
0.04
1.76
0.16
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 5 of twelve buckets, summing to 1.966 years against a modified duration of 1.918.

Against the fitted curve

Priced 0.4 bp rich to the curve on that day, 0.80 cents per 100 of face.

That is -0.01 standard deviations from its own typical residual.

Yield to maturity, 731 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Oct 31, 2023Sep 30, 2026Oct 31, 2023Yield to maturity4.818%Nov 6, 2023Yield to maturity4.605%Nov 10, 2023Yield to maturity4.654%Nov 16, 2023Yield to maturity4.434%Nov 22, 2023Yield to maturity4.440%Nov 29, 2023Yield to maturity4.249%Dec 5, 2023Yield to maturity4.170%Dec 11, 2023Yield to maturity4.273%Dec 15, 2023Yield to maturity3.942%Dec 21, 2023Yield to maturity3.905%Dec 28, 2023Yield to maturity3.866%Jan 4, 2024Yield to maturity3.989%Jan 10, 2024Yield to maturity4.000%Jan 17, 2024Yield to maturity4.033%Jan 23, 2024Yield to maturity4.059%Jan 29, 2024Yield to maturity3.992%Feb 2, 2024Yield to maturity4.018%Feb 8, 2024Yield to maturity4.145%Feb 14, 2024Yield to maturity4.274%Feb 21, 2024Yield to maturity4.331%Feb 27, 2024Yield to maturity4.358%Mar 4, 2024Yield to maturity4.253%Mar 8, 2024Yield to maturity4.105%Mar 14, 2024Yield to maturity4.339%Mar 20, 2024Yield to maturity4.293%Mar 26, 2024Yield to maturity4.269%Apr 1, 2024Yield to maturity4.380%Apr 5, 2024Yield to maturity4.423%Apr 11, 2024Yield to maturity4.659%Apr 17, 2024Yield to maturity4.666%Apr 23, 2024Yield to maturity4.665%Apr 29, 2024Yield to maturity4.696%May 3, 2024Yield to maturity4.525%May 9, 2024Yield to maturity4.508%May 15, 2024Yield to maturity4.391%May 21, 2024Yield to maturity4.475%May 28, 2024Yield to maturity4.621%Jun 3, 2024Yield to maturity4.479%Jun 7, 2024Yield to maturity4.509%Jun 13, 2024Yield to maturity4.289%Jun 20, 2024Yield to maturity4.318%Jun 26, 2024Yield to maturity4.395%Jul 2, 2024Yield to maturity4.432%Jul 9, 2024Yield to maturity4.288%Jul 15, 2024Yield to maturity4.159%Jul 19, 2024Yield to maturity4.196%Jul 25, 2024Yield to maturity4.187%Jul 31, 2024Yield to maturity4.001%Aug 6, 2024Yield to maturity3.761%Aug 12, 2024Yield to maturity3.773%Aug 16, 2024Yield to maturity3.809%Aug 22, 2024Yield to maturity3.759%Aug 28, 2024Yield to maturity3.700%Sep 4, 2024Yield to maturity3.599%Sep 10, 2024Yield to maturity3.452%Sep 16, 2024Yield to maturity3.431%Sep 20, 2024Yield to maturity3.490%Sep 26, 2024Yield to maturity3.567%Oct 2, 2024Yield to maturity3.562%Oct 8, 2024Yield to maturity3.884%Oct 15, 2024Yield to maturity3.880%Oct 21, 2024Yield to maturity3.984%Oct 25, 2024Yield to maturity4.082%Oct 31, 2024Yield to maturity4.172%Nov 6, 2024Yield to maturity4.288%Nov 13, 2024Yield to maturity4.303%Nov 19, 2024Yield to maturity4.266%Nov 25, 2024Yield to maturity4.212%Dec 2, 2024Yield to maturity4.131%Dec 6, 2024Yield to maturity4.068%Dec 12, 2024Yield to maturity4.195%Dec 18, 2024Yield to maturity4.403%Dec 24, 2024Yield to maturity4.427%Dec 31, 2024Yield to maturity4.372%Jan 7, 2025Yield to maturity4.423%Jan 13, 2025Yield to maturity4.574%Jan 17, 2025Yield to maturity4.392%Jan 24, 2025Yield to maturity4.390%Jan 30, 2025Yield to maturity4.280%Feb 5, 2025Yield to maturity4.233%Feb 11, 2025Yield to maturity4.348%Feb 18, 2025Yield to maturity4.373%Feb 24, 2025Yield to maturity4.206%Feb 28, 2025Yield to maturity4.021%Mar 6, 2025Yield to maturity4.028%Mar 12, 2025Yield to maturity4.043%Mar 18, 2025Yield to maturity4.049%Mar 24, 2025Yield to maturity4.054%Mar 28, 2025Yield to maturity3.940%Apr 3, 2025Yield to maturity3.715%Apr 9, 2025Yield to maturity3.999%Apr 15, 2025Yield to maturity3.911%Apr 21, 2025Yield to maturity3.841%Apr 25, 2025Yield to maturity3.809%May 1, 2025Yield to maturity3.739%May 7, 2025Yield to maturity3.801%May 13, 2025Yield to maturity4.054%May 19, 2025Yield to maturity3.992%May 23, 2025Yield to maturity4.017%May 30, 2025Yield to maturity3.906%Jun 5, 2025Yield to maturity3.932%Jun 11, 2025Yield to maturity3.948%Jun 17, 2025Yield to maturity3.933%Jun 24, 2025Yield to maturity3.781%Jun 30, 2025Yield to maturity3.717%Jul 7, 2025Yield to maturity3.889%Jul 11, 2025Yield to maturity3.905%Jul 17, 2025Yield to maturity3.912%Jul 23, 2025Yield to maturity3.857%Jul 29, 2025Yield to maturity3.842%Aug 4, 2025Yield to maturity3.665%Aug 8, 2025Yield to maturity3.751%Aug 14, 2025Yield to maturity3.727%Aug 20, 2025Yield to maturity3.721%Aug 26, 2025Yield to maturity3.644%Sep 2, 2025Yield to maturity3.648%Sep 8, 2025Yield to maturity3.486%Sep 12, 2025Yield to maturity3.553%Sep 18, 2025Yield to maturity3.569%Sep 24, 2025Yield to maturity3.616%Sep 30, 2025Yield to maturity3.631%Oct 6, 2025Yield to maturity3.635%Oct 10, 2025Yield to maturity3.543%Oct 17, 2025Yield to maturity3.483%Oct 23, 2025Yield to maturity3.500%Oct 29, 2025Yield to maturity3.612%Nov 4, 2025Yield to maturity3.595%Nov 10, 2025Yield to maturity3.609%Nov 17, 2025Yield to maturity3.624%Nov 21, 2025Yield to maturity3.507%Nov 28, 2025Yield to maturity3.498%Dec 4, 2025Yield to maturity3.560%Dec 10, 2025Yield to maturity3.586%Dec 16, 2025Yield to maturity3.523%Dec 22, 2025Yield to maturity3.550%Dec 29, 2025Yield to maturity3.518%Jan 5, 2026Yield to maturity3.521%Jan 9, 2026Yield to maturity3.594%Jan 15, 2026Yield to maturity3.613%Jan 22, 2026Yield to maturity3.675%Jan 28, 2026Yield to maturity3.657%Feb 3, 2026Yield to maturity3.638%Feb 9, 2026Yield to maturity3.547%Feb 13, 2026Yield to maturity3.431%Feb 20, 2026Yield to maturity3.495%Feb 26, 2026Yield to maturity3.453%Mar 4, 2026Yield to maturity3.555%Mar 10, 2026Yield to maturity3.596%Mar 16, 2026Yield to maturity3.687%Mar 20, 2026Yield to maturity3.918%Mar 26, 2026Yield to maturity4.015%Apr 1, 2026Yield to maturity3.846%Apr 7, 2026Yield to maturity3.840%Apr 13, 2026Yield to maturity3.795%Apr 17, 2026Yield to maturity3.724%Apr 23, 2026Yield to maturity3.849%Apr 29, 2026Yield to maturity3.948%May 5, 2026Yield to maturity3.968%May 11, 2026Yield to maturity3.975%May 15, 2026Yield to maturity4.130%May 21, 2026Yield to maturity4.126%May 28, 2026Yield to maturity4.066%Jun 3, 2026Yield to maturity4.115%Jun 9, 2026Yield to maturity4.165%Jun 15, 2026Yield to maturity4.105%Jun 22, 2026Yield to maturity4.266%Jun 26, 2026Yield to maturity4.108%Jul 2, 2026Yield to maturity4.158%Jul 9, 2026Yield to maturity4.198%Jul 15, 2026Yield to maturity4.164%Jul 21, 2026Yield to maturity4.289%Jul 27, 2026Yield to maturity4.358%Jul 31, 2026Yield to maturity4.325%Aug 6, 2026Yield to maturity4.279%Aug 12, 2026Yield to maturity4.230%Aug 18, 2026Yield to maturity4.211%Aug 24, 2026Yield to maturity4.266%Aug 28, 2026Yield to maturity4.368%Sep 3, 2026Yield to maturity4.366%Sep 10, 2026Yield to maturity4.593%Sep 16, 2026Yield to maturity4.763%Sep 22, 2026Yield to maturity4.778%Sep 28, 2026Yield to maturity4.937%Sep 30, 2026Yield to maturity4.905%

Price history

731 trading days to Sep 30, 2026

99100101102103104105106Oct 31, 2023Sep 30, 2026Oct 31, 2023Close100.250Nov 6, 2023Close101.188Nov 10, 2023Close100.969Nov 16, 2023Close101.938Nov 22, 2023Close101.906Nov 29, 2023Close102.750Dec 5, 2023Close103.094Dec 11, 2023Close102.625Dec 15, 2023Close104.094Dec 21, 2023Close104.250Dec 28, 2023Close104.406Jan 4, 2024Close103.844Jan 10, 2024Close103.781Jan 17, 2024Close103.625Jan 23, 2024Close103.500Jan 29, 2024Close103.781Feb 2, 2024Close103.656Feb 8, 2024Close103.094Feb 14, 2024Close102.531Feb 21, 2024Close102.281Feb 27, 2024Close102.156Mar 4, 2024Close102.594Mar 8, 2024Close103.219Mar 14, 2024Close102.219Mar 20, 2024Close102.406Mar 26, 2024Close102.500Apr 1, 2024Close102.031Apr 5, 2024Close101.844Apr 11, 2024Close100.875Apr 17, 2024Close100.844Apr 23, 2024Close100.844Apr 29, 2024Close100.719May 3, 2024Close101.406May 9, 2024Close101.469May 15, 2024Close101.938May 21, 2024Close101.594May 28, 2024Close101.000Jun 3, 2024Close101.563Jun 7, 2024Close101.438Jun 13, 2024Close102.313Jun 20, 2024Close102.188Jun 26, 2024Close101.875Jul 2, 2024Close101.719Jul 9, 2024Close102.281Jul 15, 2024Close102.781Jul 19, 2024Close102.625Jul 25, 2024Close102.656Jul 31, 2024Close103.375Aug 6, 2024Close104.313Aug 12, 2024Close104.250Aug 16, 2024Close104.094Aug 22, 2024Close104.281Aug 28, 2024Close104.500Sep 4, 2024Close104.875Sep 10, 2024Close105.438Sep 16, 2024Close105.500Sep 20, 2024Close105.250Sep 26, 2024Close104.938Oct 2, 2024Close104.938Oct 8, 2024Close103.688Oct 15, 2024Close103.688Oct 21, 2024Close103.281Oct 25, 2024Close102.906Oct 31, 2024Close102.563Nov 6, 2024Close102.125Nov 13, 2024Close102.063Nov 19, 2024Close102.188Nov 25, 2024Close102.375Dec 2, 2024Close102.656Dec 6, 2024Close102.875Dec 12, 2024Close102.406Dec 18, 2024Close101.656Dec 24, 2024Close101.563Dec 31, 2024Close101.750Jan 7, 2025Close101.563Jan 13, 2025Close101.031Jan 17, 2025Close101.656Jan 24, 2025Close101.656Jan 30, 2025Close102.031Feb 5, 2025Close102.188Feb 11, 2025Close101.781Feb 18, 2025Close101.688Feb 24, 2025Close102.250Feb 28, 2025Close102.875Mar 6, 2025Close102.844Mar 12, 2025Close102.781Mar 18, 2025Close102.750Mar 24, 2025Close102.719Mar 28, 2025Close103.094Apr 3, 2025Close103.844Apr 9, 2025Close102.875Apr 15, 2025Close103.156Apr 21, 2025Close103.375Apr 25, 2025Close103.469May 1, 2025Close103.688May 7, 2025Close103.469May 13, 2025Close102.625May 19, 2025Close102.813May 23, 2025Close102.719May 30, 2025Close103.063Jun 5, 2025Close102.969Jun 11, 2025Close102.906Jun 17, 2025Close102.938Jun 24, 2025Close103.406Jun 30, 2025Close103.594Jul 7, 2025Close103.031Jul 11, 2025Close102.969Jul 17, 2025Close102.938Jul 23, 2025Close103.094Jul 29, 2025Close103.125Aug 4, 2025Close103.656Aug 8, 2025Close103.375Aug 14, 2025Close103.438Aug 20, 2025Close103.438Aug 26, 2025Close103.656Sep 2, 2025Close103.625Sep 8, 2025Close104.094Sep 12, 2025Close103.875Sep 18, 2025Close103.813Sep 24, 2025Close103.656Sep 30, 2025Close103.594Oct 6, 2025Close103.563Oct 10, 2025Close103.813Oct 17, 2025Close103.969Oct 23, 2025Close103.906Oct 29, 2025Close103.563Nov 4, 2025Close103.594Nov 10, 2025Close103.531Nov 17, 2025Close103.469Nov 21, 2025Close103.781Nov 28, 2025Close103.781Dec 4, 2025Close103.594Dec 10, 2025Close103.500Dec 16, 2025Close103.656Dec 22, 2025Close103.563Dec 29, 2025Close103.625Jan 5, 2026Close103.594Jan 9, 2026Close103.375Jan 15, 2026Close103.313Jan 22, 2026Close103.125Jan 28, 2026Close103.156Feb 3, 2026Close103.188Feb 9, 2026Close103.406Feb 13, 2026Close103.688Feb 20, 2026Close103.500Feb 26, 2026Close103.594Mar 4, 2026Close103.313Mar 10, 2026Close103.188Mar 16, 2026Close102.938Mar 20, 2026Close102.344Mar 26, 2026Close102.094Apr 1, 2026Close102.500Apr 7, 2026Close102.500Apr 13, 2026Close102.594Apr 17, 2026Close102.750Apr 23, 2026Close102.438Apr 29, 2026Close102.188May 5, 2026Close102.125May 11, 2026Close102.094May 15, 2026Close101.719May 21, 2026Close101.719May 28, 2026Close101.844Jun 3, 2026Close101.719Jun 9, 2026Close101.594Jun 15, 2026Close101.719Jun 22, 2026Close101.344Jun 26, 2026Close101.688Jul 2, 2026Close101.563Jul 9, 2026Close101.469Jul 15, 2026Close101.531Jul 21, 2026Close101.250Jul 27, 2026Close101.094Jul 31, 2026Close101.156Aug 6, 2026Close101.250Aug 12, 2026Close101.344Aug 18, 2026Close101.375Aug 24, 2026Close101.250Aug 28, 2026Close101.031Sep 3, 2026Close101.031Sep 10, 2026Close100.563Sep 16, 2026Close100.219Sep 22, 2026Close100.188Sep 28, 2026Close99.875Sep 30, 2026Close99.938
The most recent 20 trading days of prices for 91282CJF9.
DateBidOfferClose
Sep 30, 202699.98499.96999.938
Sep 29, 202699.85999.84499.938
Sep 28, 202699.85999.84499.875
Sep 25, 202699.95399.938100.000
Sep 24, 202699.92299.90699.875
Sep 23, 2026100.016100.00099.938
Sep 22, 2026100.203100.188100.188
Sep 21, 2026100.234100.219100.188
Sep 18, 2026100.203100.188100.188
Sep 17, 2026100.328100.313100.344
Sep 16, 2026100.453100.438100.219
Sep 15, 2026100.391100.375100.344
Sep 14, 2026100.422100.406100.406
Sep 11, 2026100.484100.469100.438
Sep 10, 2026100.641100.625100.563
Sep 9, 2026100.859100.844100.844
Sep 8, 2026100.953100.938100.906
Sep 4, 2026100.984100.969100.969
Sep 3, 2026101.078101.063101.031
Sep 2, 2026100.953100.938100.938

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 91282CJF9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 25, 2023Oct 31, 2023New issue$52.0bn$52.0bn2.36x4.899%

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.