Treasury note

91282CJJ1 · 4.5% due November 15, 2033

Original term
10-Year
Maturity
Nov 15, 2033
Coupon
4.500%
Pays
Semi-Annual
Dated
Nov 15, 2023
First coupon
May 15, 2024
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$114.43bn
Held stripped
$20.2m
Share stripped
0.02%

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, October 20, 2026

Yield to maturity
5.030%
Modified duration
5.847 yr
DV01
0.0578
Convexity
0.41
Dirty price
98.819

Where its rate sensitivity sits

<.01
0.01
0.04
0.08
0.19
0.35
5.20
0.12
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 8 of twelve buckets, summing to 5.993 years against a modified duration of 5.847.

Against the fitted curve

Priced 2.9 bp cheap to the curve on that day, 16.57 cents per 100 of face.

That is 0.89 standard deviations from its own typical residual.

Yield to maturity, 733 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%5.25%Nov 15, 2023Oct 20, 2026Nov 15, 2023Yield to maturity4.527%Nov 21, 2023Yield to maturity4.410%Nov 28, 2023Yield to maturity4.340%Dec 4, 2023Yield to maturity4.282%Dec 8, 2023Yield to maturity4.231%Dec 14, 2023Yield to maturity3.921%Dec 20, 2023Yield to maturity3.860%Dec 27, 2023Yield to maturity3.793%Jan 3, 2024Yield to maturity3.907%Jan 9, 2024Yield to maturity4.015%Jan 16, 2024Yield to maturity4.068%Jan 22, 2024Yield to maturity4.101%Jan 26, 2024Yield to maturity4.147%Feb 1, 2024Yield to maturity3.861%Feb 7, 2024Yield to maturity4.104%Feb 13, 2024Yield to maturity4.325%Feb 20, 2024Yield to maturity4.289%Feb 26, 2024Yield to maturity4.301%Mar 1, 2024Yield to maturity4.203%Mar 7, 2024Yield to maturity4.101%Mar 13, 2024Yield to maturity4.202%Mar 19, 2024Yield to maturity4.308%Mar 25, 2024Yield to maturity4.260%Mar 29, 2024Yield to maturity4.209%Apr 4, 2024Yield to maturity4.319%Apr 10, 2024Yield to maturity4.564%Apr 16, 2024Yield to maturity4.675%Apr 22, 2024Yield to maturity4.626%Apr 26, 2024Yield to maturity4.680%May 2, 2024Yield to maturity4.581%May 8, 2024Yield to maturity4.500%May 14, 2024Yield to maturity4.459%May 20, 2024Yield to maturity4.451%May 24, 2024Yield to maturity4.475%May 31, 2024Yield to maturity4.516%Jun 6, 2024Yield to maturity4.288%Jun 12, 2024Yield to maturity4.324%Jun 18, 2024Yield to maturity4.231%Jun 25, 2024Yield to maturity4.239%Jul 1, 2024Yield to maturity4.487%Jul 8, 2024Yield to maturity4.274%Jul 12, 2024Yield to maturity4.181%Jul 18, 2024Yield to maturity4.197%Jul 24, 2024Yield to maturity4.273%Jul 30, 2024Yield to maturity4.140%Aug 5, 2024Yield to maturity3.767%Aug 9, 2024Yield to maturity3.947%Aug 15, 2024Yield to maturity3.919%Aug 21, 2024Yield to maturity3.788%Aug 27, 2024Yield to maturity3.826%Sep 3, 2024Yield to maturity3.825%Sep 9, 2024Yield to maturity3.679%Sep 13, 2024Yield to maturity3.631%Sep 19, 2024Yield to maturity3.700%Sep 25, 2024Yield to maturity3.758%Oct 1, 2024Yield to maturity3.714%Oct 7, 2024Yield to maturity4.008%Oct 11, 2024Yield to maturity4.064%Oct 18, 2024Yield to maturity4.055%Oct 24, 2024Yield to maturity4.186%Oct 30, 2024Yield to maturity4.269%Nov 5, 2024Yield to maturity4.273%Nov 12, 2024Yield to maturity4.440%Nov 18, 2024Yield to maturity4.415%Nov 22, 2024Yield to maturity4.406%Nov 29, 2024Yield to maturity4.171%Dec 5, 2024Yield to maturity4.170%Dec 11, 2024Yield to maturity4.253%Dec 17, 2024Yield to maturity4.384%Dec 23, 2024Yield to maturity4.577%Dec 30, 2024Yield to maturity4.530%Jan 6, 2025Yield to maturity4.599%Jan 10, 2025Yield to maturity4.757%Jan 16, 2025Yield to maturity4.577%Jan 23, 2025Yield to maturity4.612%Jan 29, 2025Yield to maturity4.521%Feb 4, 2025Yield to maturity4.486%Feb 10, 2025Yield to maturity4.473%Feb 14, 2025Yield to maturity4.456%Feb 21, 2025Yield to maturity4.395%Feb 27, 2025Yield to maturity4.257%Mar 5, 2025Yield to maturity4.248%Mar 11, 2025Yield to maturity4.239%Mar 17, 2025Yield to maturity4.277%Mar 21, 2025Yield to maturity4.204%Mar 27, 2025Yield to maturity4.324%Apr 2, 2025Yield to maturity4.147%Apr 8, 2025Yield to maturity4.185%Apr 14, 2025Yield to maturity4.315%Apr 18, 2025Yield to maturity4.262%Apr 24, 2025Yield to maturity4.240%Apr 30, 2025Yield to maturity4.067%May 6, 2025Yield to maturity4.222%May 12, 2025Yield to maturity4.376%May 16, 2025Yield to maturity4.353%May 22, 2025Yield to maturity4.446%May 29, 2025Yield to maturity4.326%Jun 4, 2025Yield to maturity4.255%Jun 10, 2025Yield to maturity4.370%Jun 16, 2025Yield to maturity4.352%Jun 23, 2025Yield to maturity4.223%Jun 27, 2025Yield to maturity4.165%Jul 3, 2025Yield to maturity4.239%Jul 10, 2025Yield to maturity4.235%Jul 16, 2025Yield to maturity4.328%Jul 22, 2025Yield to maturity4.212%Jul 28, 2025Yield to maturity4.296%Aug 1, 2025Yield to maturity4.086%Aug 7, 2025Yield to maturity4.104%Aug 13, 2025Yield to maturity4.085%Aug 19, 2025Yield to maturity4.147%Aug 25, 2025Yield to maturity4.119%Aug 29, 2025Yield to maturity4.048%Sep 5, 2025Yield to maturity3.914%Sep 11, 2025Yield to maturity3.852%Sep 17, 2025Yield to maturity3.895%Sep 23, 2025Yield to maturity3.956%Sep 29, 2025Yield to maturity4.000%Oct 3, 2025Yield to maturity3.977%Oct 9, 2025Yield to maturity4.003%Oct 16, 2025Yield to maturity3.824%Oct 22, 2025Yield to maturity3.810%Oct 28, 2025Yield to maturity3.849%Nov 3, 2025Yield to maturity3.973%Nov 7, 2025Yield to maturity3.945%Nov 14, 2025Yield to maturity3.993%Nov 20, 2025Yield to maturity3.939%Nov 26, 2025Yield to maturity3.830%Dec 3, 2025Yield to maturity3.887%Dec 9, 2025Yield to maturity4.022%Dec 15, 2025Yield to maturity4.012%Dec 19, 2025Yield to maturity3.979%Dec 26, 2025Yield to maturity3.968%Jan 2, 2026Yield to maturity4.018%Jan 8, 2026Yield to maturity4.012%Jan 14, 2026Yield to maturity3.979%Jan 21, 2026Yield to maturity4.098%Jan 27, 2026Yield to maturity4.084%Feb 2, 2026Yield to maturity4.116%Feb 6, 2026Yield to maturity4.040%Feb 12, 2026Yield to maturity3.933%Feb 19, 2026Yield to maturity3.904%Feb 25, 2026Yield to maturity3.876%Mar 3, 2026Yield to maturity3.884%Mar 9, 2026Yield to maturity3.952%Mar 13, 2026Yield to maturity4.120%Mar 19, 2026Yield to maturity4.106%Mar 25, 2026Yield to maturity4.191%Mar 31, 2026Yield to maturity4.157%Apr 6, 2026Yield to maturity4.204%Apr 10, 2026Yield to maturity4.165%Apr 16, 2026Yield to maturity4.146%Apr 22, 2026Yield to maturity4.140%Apr 28, 2026Yield to maturity4.202%May 4, 2026Yield to maturity4.299%May 8, 2026Yield to maturity4.221%May 14, 2026Yield to maturity4.328%May 20, 2026Yield to maturity4.426%May 27, 2026Yield to maturity4.351%Jun 2, 2026Yield to maturity4.336%Jun 8, 2026Yield to maturity4.445%Jun 12, 2026Yield to maturity4.370%Jun 18, 2026Yield to maturity4.360%Jun 25, 2026Yield to maturity4.290%Jul 1, 2026Yield to maturity4.374%Jul 8, 2026Yield to maturity4.454%Jul 14, 2026Yield to maturity4.459%Jul 20, 2026Yield to maturity4.469%Jul 24, 2026Yield to maturity4.565%Jul 30, 2026Yield to maturity4.540%Aug 5, 2026Yield to maturity4.489%Aug 11, 2026Yield to maturity4.560%Aug 17, 2026Yield to maturity4.560%Aug 21, 2026Yield to maturity4.586%Aug 27, 2026Yield to maturity4.540%Sep 2, 2026Yield to maturity4.680%Sep 9, 2026Yield to maturity4.732%Sep 15, 2026Yield to maturity4.928%Sep 21, 2026Yield to maturity4.902%Sep 25, 2026Yield to maturity5.091%Oct 1, 2026Yield to maturity5.140%Oct 7, 2026Yield to maturity5.169%Oct 14, 2026Yield to maturity5.110%Oct 20, 2026Yield to maturity5.030%

Price history

733 trading days to Oct 20, 2026

949698100102104106108Nov 15, 2023Oct 20, 2026Nov 15, 2023Close99.781Nov 21, 2023Close100.719Nov 28, 2023Close101.281Dec 4, 2023Close101.750Dec 8, 2023Close102.156Dec 14, 2023Close104.719Dec 20, 2023Close105.219Dec 27, 2023Close105.781Jan 3, 2024Close104.813Jan 9, 2024Close103.906Jan 16, 2024Close103.469Jan 22, 2024Close103.188Jan 26, 2024Close102.813Feb 1, 2024Close105.156Feb 7, 2024Close103.156Feb 13, 2024Close101.375Feb 20, 2024Close101.656Feb 26, 2024Close101.563Mar 1, 2024Close102.344Mar 7, 2024Close103.156Mar 13, 2024Close102.344Mar 19, 2024Close101.500Mar 25, 2024Close101.875Mar 29, 2024Close102.281Apr 4, 2024Close101.406Apr 10, 2024Close99.500Apr 16, 2024Close98.656Apr 22, 2024Close99.031Apr 26, 2024Close98.625May 2, 2024Close99.375May 8, 2024Close100.000May 14, 2024Close100.313May 20, 2024Close100.375May 24, 2024Close100.188May 31, 2024Close99.875Jun 6, 2024Close101.625Jun 12, 2024Close101.344Jun 18, 2024Close102.063Jun 25, 2024Close102.000Jul 1, 2024Close100.094Jul 8, 2024Close101.719Jul 12, 2024Close102.438Jul 18, 2024Close102.313Jul 24, 2024Close101.719Jul 30, 2024Close102.750Aug 5, 2024Close105.688Aug 9, 2024Close104.250Aug 15, 2024Close104.469Aug 21, 2024Close105.500Aug 27, 2024Close105.188Sep 3, 2024Close105.188Sep 9, 2024Close106.344Sep 13, 2024Close106.719Sep 19, 2024Close106.156Sep 25, 2024Close105.688Oct 1, 2024Close106.031Oct 7, 2024Close103.719Oct 11, 2024Close103.281Oct 18, 2024Close103.344Oct 24, 2024Close102.344Oct 30, 2024Close101.719Nov 5, 2024Close101.688Nov 12, 2024Close100.438Nov 18, 2024Close100.625Nov 22, 2024Close100.688Nov 29, 2024Close102.438Dec 5, 2024Close102.438Dec 11, 2024Close101.813Dec 17, 2024Close100.844Dec 23, 2024Close99.438Dec 30, 2024Close99.781Jan 6, 2025Close99.281Jan 10, 2025Close98.156Jan 16, 2025Close99.438Jan 23, 2025Close99.188Jan 29, 2025Close99.844Feb 4, 2025Close100.094Feb 10, 2025Close100.188Feb 14, 2025Close100.313Feb 21, 2025Close100.750Feb 27, 2025Close101.750Mar 5, 2025Close101.813Mar 11, 2025Close101.875Mar 17, 2025Close101.594Mar 21, 2025Close102.125Mar 27, 2025Close101.250Apr 2, 2025Close102.531Apr 8, 2025Close102.250Apr 14, 2025Close101.313Apr 18, 2025Close101.688Apr 24, 2025Close101.844Apr 30, 2025Close103.094May 6, 2025Close101.969May 12, 2025Close100.875May 16, 2025Close101.031May 22, 2025Close100.375May 29, 2025Close101.219Jun 4, 2025Close101.719Jun 10, 2025Close100.906Jun 16, 2025Close101.031Jun 23, 2025Close101.938Jun 27, 2025Close102.344Jul 3, 2025Close101.813Jul 10, 2025Close101.844Jul 16, 2025Close101.188Jul 22, 2025Close102.000Jul 28, 2025Close101.406Aug 1, 2025Close102.875Aug 7, 2025Close102.750Aug 13, 2025Close102.875Aug 19, 2025Close102.438Aug 25, 2025Close102.625Aug 29, 2025Close103.125Sep 5, 2025Close104.063Sep 11, 2025Close104.500Sep 17, 2025Close104.188Sep 23, 2025Close103.750Sep 29, 2025Close103.438Oct 3, 2025Close103.594Oct 9, 2025Close103.406Oct 16, 2025Close104.656Oct 22, 2025Close104.750Oct 28, 2025Close104.469Nov 3, 2025Close103.594Nov 7, 2025Close103.781Nov 14, 2025Close103.438Nov 20, 2025Close103.813Nov 26, 2025Close104.563Dec 3, 2025Close104.156Dec 9, 2025Close103.219Dec 15, 2025Close103.281Dec 19, 2025Close103.500Dec 26, 2025Close103.563Jan 2, 2026Close103.219Jan 8, 2026Close103.250Jan 14, 2026Close103.469Jan 21, 2026Close102.656Jan 27, 2026Close102.750Feb 2, 2026Close102.531Feb 6, 2026Close103.031Feb 12, 2026Close103.750Feb 19, 2026Close103.938Feb 25, 2026Close104.125Mar 3, 2026Close104.063Mar 9, 2026Close103.594Mar 13, 2026Close102.469Mar 19, 2026Close102.563Mar 25, 2026Close102.000Mar 31, 2026Close102.219Apr 6, 2026Close101.906Apr 10, 2026Close102.156Apr 16, 2026Close102.281Apr 22, 2026Close102.313Apr 28, 2026Close101.906May 4, 2026Close101.281May 8, 2026Close101.781May 14, 2026Close101.094May 20, 2026Close100.469May 27, 2026Close100.938Jun 2, 2026Close101.031Jun 8, 2026Close100.344Jun 12, 2026Close100.813Jun 18, 2026Close100.875Jun 25, 2026Close101.313Jul 1, 2026Close100.781Jul 8, 2026Close100.281Jul 14, 2026Close100.250Jul 20, 2026Close100.188Jul 24, 2026Close99.594Jul 30, 2026Close99.750Aug 5, 2026Close100.063Aug 11, 2026Close99.625Aug 17, 2026Close99.625Aug 21, 2026Close99.469Aug 27, 2026Close99.750Sep 2, 2026Close98.906Sep 9, 2026Close98.594Sep 15, 2026Close97.438Sep 21, 2026Close97.594Sep 25, 2026Close96.500Oct 1, 2026Close96.219Oct 7, 2026Close96.063Oct 14, 2026Close96.406Oct 20, 2026Close96.875
The most recent 20 trading days of prices for 91282CJJ1.
DateBidOfferClose
Oct 20, 202696.95396.93896.875
Oct 19, 202696.85996.84496.719
Oct 16, 202697.10997.09497.063
Oct 15, 202696.98496.96997.000
Oct 14, 202696.07896.06396.406
Oct 13, 202696.31396.28196.344
Oct 9, 202696.10996.09496.156
Oct 8, 202695.89195.87596.313
Oct 7, 202695.92295.90696.063
Oct 6, 202696.17296.15696.094
Oct 5, 202695.78195.75095.875
Oct 2, 202696.14196.12595.969
Oct 1, 202696.07896.06396.219
Sep 30, 202695.98495.96995.875
Sep 29, 202695.85995.84496.031
Sep 28, 202695.98495.96996.094
Sep 25, 202696.26696.25096.500
Sep 24, 202696.42296.40696.281
Sep 23, 202696.85996.84496.625
Sep 22, 202697.57897.56397.594

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.

3 auctions

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 91282CJJ1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 8, 2023Nov 15, 2023New issue$40.0bn$40.8bn2.45x4.519%
Dec 11, 2023Dec 15, 2023Reopening$37.0bn$37.0bn2.53x4.296%
Jan 10, 2024Jan 16, 2024Reopening$37.0bn$37.0bn2.56x4.024%

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.