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
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$114.43bn
Held stripped
$20.9m
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, November 9, 2026

Yield to maturity
4.765%
Modified duration
5.812 yr
DV01
0.0585
Convexity
0.406
Dirty price
100.626

Where its rate sensitivity sits

0.01
0.04
0.08
0.19
0.35
5.25
0.02
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 7 of twelve buckets, summing to 5.949 years against a modified duration of 5.812.

Against the fitted curve

Priced 2.7 bp cheap to the curve on that day, 15.67 cents per 100 of face.

That is 0.73 standard deviations from its own typical residual.

Yield to maturity, 745 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%5.25%Nov 15, 2023Nov 9, 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%Apr 1, 2024Yield to maturity4.335%Apr 5, 2024Yield to maturity4.399%Apr 11, 2024Yield to maturity4.573%Apr 17, 2024Yield to maturity4.597%Apr 23, 2024Yield to maturity4.610%Apr 29, 2024Yield to maturity4.635%May 3, 2024Yield to maturity4.504%May 9, 2024Yield to maturity4.471%May 15, 2024Yield to maturity4.366%May 21, 2024Yield to maturity4.423%May 28, 2024Yield to maturity4.549%Jun 3, 2024Yield to maturity4.414%Jun 7, 2024Yield to maturity4.442%Jun 13, 2024Yield to maturity4.248%Jun 20, 2024Yield to maturity4.259%Jun 26, 2024Yield to maturity4.328%Jul 2, 2024Yield to maturity4.434%Jul 9, 2024Yield to maturity4.299%Jul 15, 2024Yield to maturity4.230%Jul 19, 2024Yield to maturity4.241%Jul 25, 2024Yield to maturity4.257%Jul 31, 2024Yield to maturity4.079%Aug 6, 2024Yield to maturity3.884%Aug 12, 2024Yield to maturity3.907%Aug 16, 2024Yield to maturity3.894%Aug 22, 2024Yield to maturity3.858%Aug 28, 2024Yield to maturity3.834%Sep 4, 2024Yield to maturity3.750%Sep 10, 2024Yield to maturity3.624%Sep 16, 2024Yield to maturity3.600%Sep 20, 2024Yield to maturity3.700%Sep 26, 2024Yield to maturity3.766%Oct 2, 2024Yield to maturity3.761%Oct 8, 2024Yield to maturity4.020%Oct 15, 2024Yield to maturity4.011%Oct 21, 2024Yield to maturity4.157%Oct 25, 2024Yield to maturity4.227%Oct 31, 2024Yield to maturity4.264%Nov 6, 2024Yield to maturity4.432%Nov 13, 2024Yield to maturity4.445%Nov 19, 2024Yield to maturity4.381%Nov 25, 2024Yield to maturity4.263%Dec 2, 2024Yield to maturity4.183%Dec 6, 2024Yield to maturity4.145%Dec 12, 2024Yield to maturity4.308%Dec 18, 2024Yield to maturity4.491%Dec 24, 2024Yield to maturity4.577%Dec 31, 2024Yield to maturity4.560%Jan 7, 2025Yield to maturity4.656%Jan 13, 2025Yield to maturity4.775%Jan 17, 2025Yield to maturity4.586%Jan 24, 2025Yield to maturity4.599%Jan 30, 2025Yield to maturity4.482%Feb 5, 2025Yield to maturity4.391%Feb 11, 2025Yield to maturity4.508%Feb 18, 2025Yield to maturity4.530%Feb 24, 2025Yield to maturity4.373%Feb 28, 2025Yield to maturity4.205%Mar 6, 2025Yield to maturity4.256%Mar 12, 2025Yield to maturity4.282%Mar 18, 2025Yield to maturity4.247%Mar 24, 2025Yield to maturity4.290%Mar 28, 2025Yield to maturity4.212%Apr 3, 2025Yield to maturity3.989%Apr 9, 2025Yield to maturity4.298%Apr 15, 2025Yield to maturity4.271%Apr 22, 2025Yield to maturity4.323%Apr 28, 2025Yield to maturity4.141%May 2, 2025Yield to maturity4.236%May 8, 2025Yield to maturity4.297%May 14, 2025Yield to maturity4.455%May 20, 2025Yield to maturity4.389%May 27, 2025Yield to maturity4.340%Jun 2, 2025Yield to maturity4.348%Jun 6, 2025Yield to maturity4.419%Jun 12, 2025Yield to maturity4.259%Jun 18, 2025Yield to maturity4.281%Jun 25, 2025Yield to maturity4.165%Jul 1, 2025Yield to maturity4.138%Jul 8, 2025Yield to maturity4.297%Jul 14, 2025Yield to maturity4.306%Jul 18, 2025Yield to maturity4.301%Jul 24, 2025Yield to maturity4.296%Jul 30, 2025Yield to maturity4.251%Aug 5, 2025Yield to maturity4.073%Aug 11, 2025Yield to maturity4.134%Aug 15, 2025Yield to maturity4.174%Aug 21, 2025Yield to maturity4.173%Aug 27, 2025Yield to maturity4.066%Sep 3, 2025Yield to maturity4.039%Sep 9, 2025Yield to maturity3.905%Sep 15, 2025Yield to maturity3.878%Sep 19, 2025Yield to maturity3.974%Sep 25, 2025Yield to maturity4.022%Oct 1, 2025Yield to maturity3.959%Oct 7, 2025Yield to maturity3.985%Oct 14, 2025Yield to maturity3.873%Oct 20, 2025Yield to maturity3.846%Oct 24, 2025Yield to maturity3.858%Oct 30, 2025Yield to maturity3.964%Nov 5, 2025Yield to maturity4.017%Nov 12, 2025Yield to maturity3.927%Nov 18, 2025Yield to maturity3.962%Nov 24, 2025Yield to maturity3.871%Dec 1, 2025Yield to maturity3.928%Dec 5, 2025Yield to maturity3.972%Dec 11, 2025Yield to maturity3.980%Dec 17, 2025Yield to maturity3.979%Dec 23, 2025Yield to maturity4.006%Dec 30, 2025Yield to maturity3.959%Jan 6, 2026Yield to maturity4.004%Jan 12, 2026Yield to maturity4.026%Jan 16, 2026Yield to maturity4.075%Jan 23, 2026Yield to maturity4.089%Jan 29, 2026Yield to maturity4.079%Feb 4, 2026Yield to maturity4.120%Feb 10, 2026Yield to maturity3.980%Feb 17, 2026Yield to maturity3.882%Feb 23, 2026Yield to maturity3.853%Feb 27, 2026Yield to maturity3.783%Mar 5, 2026Yield to maturity3.967%Mar 11, 2026Yield to maturity4.041%Mar 17, 2026Yield to maturity4.031%Mar 23, 2026Yield to maturity4.196%Mar 27, 2026Yield to maturity4.300%Apr 2, 2026Yield to maturity4.166%Apr 8, 2026Yield to maturity4.146%Apr 14, 2026Yield to maturity4.098%Apr 20, 2026Yield to maturity4.088%Apr 24, 2026Yield to maturity4.145%Apr 30, 2026Yield to maturity4.241%May 6, 2026Yield to maturity4.206%May 12, 2026Yield to maturity4.328%May 18, 2026Yield to maturity4.465%May 22, 2026Yield to maturity4.435%May 29, 2026Yield to maturity4.317%Jun 4, 2026Yield to maturity4.356%Jun 10, 2026Yield to maturity4.430%Jun 16, 2026Yield to maturity4.306%Jun 23, 2026Yield to maturity4.404%Jun 29, 2026Yield to maturity4.270%Jul 6, 2026Yield to maturity4.359%Jul 10, 2026Yield to maturity4.449%Jul 16, 2026Yield to maturity4.434%Jul 22, 2026Yield to maturity4.550%Jul 28, 2026Yield to maturity4.489%Aug 3, 2026Yield to maturity4.555%Aug 7, 2026Yield to maturity4.509%Aug 13, 2026Yield to maturity4.489%Aug 19, 2026Yield to maturity4.499%Aug 25, 2026Yield to maturity4.494%Aug 31, 2026Yield to maturity4.633%Sep 4, 2026Yield to maturity4.670%Sep 11, 2026Yield to maturity4.885%Sep 17, 2026Yield to maturity4.870%Sep 23, 2026Yield to maturity5.068%Sep 29, 2026Yield to maturity5.172%Oct 5, 2026Yield to maturity5.201%Oct 9, 2026Yield to maturity5.153%Oct 16, 2026Yield to maturity4.998%Oct 22, 2026Yield to maturity4.869%Oct 28, 2026Yield to maturity4.951%Nov 3, 2026Yield to maturity4.839%Nov 9, 2026Yield to maturity4.765%

Price history

745 trading days to Nov 9, 2026

949698100102104106108Nov 15, 2023Nov 9, 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, 2024Close101.875Apr 1, 2024Close101.281Apr 5, 2024Close100.781Apr 11, 2024Close99.438Apr 17, 2024Close99.250Apr 23, 2024Close99.156Apr 29, 2024Close98.969May 3, 2024Close99.969May 9, 2024Close100.219May 15, 2024Close101.031May 21, 2024Close100.594May 28, 2024Close99.625Jun 3, 2024Close100.656Jun 7, 2024Close100.438Jun 13, 2024Close101.938Jun 20, 2024Close101.844Jun 26, 2024Close101.313Jul 2, 2024Close100.500Jul 9, 2024Close101.531Jul 15, 2024Close102.063Jul 19, 2024Close101.969Jul 25, 2024Close101.844Jul 31, 2024Close103.219Aug 6, 2024Close104.750Aug 12, 2024Close104.563Aug 16, 2024Close104.656Aug 22, 2024Close104.938Aug 28, 2024Close105.125Sep 4, 2024Close105.781Sep 10, 2024Close106.781Sep 16, 2024Close106.969Sep 20, 2024Close106.156Sep 26, 2024Close105.625Oct 2, 2024Close105.656Oct 8, 2024Close103.625Oct 15, 2024Close103.688Oct 21, 2024Close102.563Oct 25, 2024Close102.031Oct 31, 2024Close101.750Nov 6, 2024Close100.500Nov 13, 2024Close100.406Nov 19, 2024Close100.875Nov 25, 2024Close101.750Dec 2, 2024Close102.344Dec 6, 2024Close102.625Dec 12, 2024Close101.406Dec 18, 2024Close100.063Dec 24, 2024Close99.438Dec 31, 2024Close99.563Jan 7, 2025Close98.875Jan 13, 2025Close98.031Jan 17, 2025Close99.375Jan 24, 2025Close99.281Jan 30, 2025Close100.125Feb 5, 2025Close100.781Feb 11, 2025Close99.938Feb 18, 2025Close99.781Feb 24, 2025Close100.906Feb 28, 2025Close102.125Mar 6, 2025Close101.750Mar 12, 2025Close101.563Mar 18, 2025Close101.813Mar 24, 2025Close101.500Mar 28, 2025Close102.063Apr 3, 2025Close103.688Apr 9, 2025Close101.438Apr 15, 2025Close101.625Apr 22, 2025Close101.250Apr 28, 2025Close102.563May 2, 2025Close101.875May 8, 2025Close101.438May 14, 2025Close100.313May 20, 2025Close100.781May 27, 2025Close101.125Jun 2, 2025Close101.063Jun 6, 2025Close100.563Jun 12, 2025Close101.688Jun 18, 2025Close101.531Jun 25, 2025Close102.344Jul 1, 2025Close102.531Jul 8, 2025Close101.406Jul 14, 2025Close101.344Jul 18, 2025Close101.375Jul 24, 2025Close101.406Jul 30, 2025Close101.719Aug 5, 2025Close102.969Aug 11, 2025Close102.531Aug 15, 2025Close102.250Aug 21, 2025Close102.250Aug 27, 2025Close103.000Sep 3, 2025Close103.188Sep 9, 2025Close104.125Sep 15, 2025Close104.313Sep 19, 2025Close103.625Sep 25, 2025Close103.281Oct 1, 2025Close103.719Oct 7, 2025Close103.531Oct 14, 2025Close104.313Oct 20, 2025Close104.500Oct 24, 2025Close104.406Oct 30, 2025Close103.656Nov 5, 2025Close103.281Nov 12, 2025Close103.906Nov 18, 2025Close103.656Nov 24, 2025Close104.281Dec 1, 2025Close103.875Dec 5, 2025Close103.563Dec 11, 2025Close103.500Dec 17, 2025Close103.500Dec 23, 2025Close103.313Dec 30, 2025Close103.625Jan 6, 2026Close103.313Jan 12, 2026Close103.156Jan 16, 2026Close102.813Jan 23, 2026Close102.719Jan 29, 2026Close102.781Feb 4, 2026Close102.500Feb 10, 2026Close103.438Feb 17, 2026Close104.094Feb 23, 2026Close104.281Feb 27, 2026Close104.750Mar 5, 2026Close103.500Mar 11, 2026Close103.000Mar 17, 2026Close103.063Mar 23, 2026Close101.969Mar 27, 2026Close101.281Apr 2, 2026Close102.156Apr 8, 2026Close102.281Apr 14, 2026Close102.594Apr 20, 2026Close102.656Apr 24, 2026Close102.281Apr 30, 2026Close101.656May 6, 2026Close101.875May 12, 2026Close101.094May 18, 2026Close100.219May 22, 2026Close100.406May 29, 2026Close101.156Jun 4, 2026Close100.906Jun 10, 2026Close100.438Jun 16, 2026Close101.219Jun 23, 2026Close100.594Jun 29, 2026Close101.438Jul 6, 2026Close100.875Jul 10, 2026Close100.313Jul 16, 2026Close100.406Jul 22, 2026Close99.688Jul 28, 2026Close100.063Aug 3, 2026Close99.656Aug 7, 2026Close99.938Aug 13, 2026Close100.063Aug 19, 2026Close100.000Aug 25, 2026Close100.031Aug 31, 2026Close99.188Sep 4, 2026Close98.969Sep 11, 2026Close97.688Sep 17, 2026Close97.781Sep 23, 2026Close96.625Sep 29, 2026Close96.031Oct 5, 2026Close95.875Oct 9, 2026Close96.156Oct 16, 2026Close97.063Oct 22, 2026Close97.813Oct 28, 2026Close97.344Nov 3, 2026Close98.000Nov 9, 2026Close98.438
The most recent 20 trading days of prices for 91282CJJ1.
DateBidOfferClose
Nov 9, 202698.40698.43898.438
Nov 6, 202698.53198.54798.531
Nov 5, 202698.65698.67298.781
Nov 4, 202698.18898.20398.344
Nov 3, 202698.06398.07898.000
Nov 2, 202698.34498.35998.250
Oct 30, 202697.96997.98498.094
Oct 29, 202697.75097.76697.750
Oct 28, 202697.34497.35997.344
Oct 27, 202697.59497.60997.563
Oct 26, 202697.59497.60997.563
Oct 23, 202697.59497.60997.625
Oct 22, 202697.50097.51697.813
Oct 21, 202696.90696.92296.781
Oct 20, 202696.93896.95396.875
Oct 19, 202696.84496.85996.719
Oct 16, 202697.09497.10997.063
Oct 15, 202696.96996.98497.000
Oct 14, 202696.06396.07896.406
Oct 13, 202696.28196.31396.344

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.

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.