Treasury note

91282CJQ5 · 3.75% due December 31, 2030

Original term
7-Year
Maturity
Dec 31, 2030
Coupon
3.750%
Pays
Semi-Annual
Dated
Dec 31, 2023
First coupon
Jun 30, 2024
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$39.44bn
Held stripped
$5.6m
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
4.730%
Modified duration
3.884 yr
DV01
0.0377
Convexity
17.779
Dirty price
96.963

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 3.978 years against a modified duration of 3.884.

Against the fitted curve

Priced 0.5 bp rich to the curve on that day, 2.05 cents per 100 of face.

That is -0.97 standard deviations from its own typical residual.

Yield to maturity, 675 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Jan 2, 2024Sep 10, 2026Jan 2, 2024Yield to maturity3.951%Jan 25, 2024Yield to maturity4.089%Feb 16, 2024Yield to maturity4.318%Mar 12, 2024Yield to maturity4.170%Apr 3, 2024Yield to maturity4.360%Apr 25, 2024Yield to maturity4.725%May 17, 2024Yield to maturity4.437%Jun 11, 2024Yield to maturity4.404%Jul 5, 2024Yield to maturity4.234%Jul 29, 2024Yield to maturity4.090%Aug 20, 2024Yield to maturity3.744%Sep 12, 2024Yield to maturity3.548%Oct 4, 2024Yield to maturity3.869%Oct 29, 2024Yield to maturity4.172%Nov 21, 2024Yield to maturity4.349%Dec 16, 2024Yield to maturity4.301%Jan 9, 2025Yield to maturity4.534%Feb 3, 2025Yield to maturity4.417%Feb 26, 2025Yield to maturity4.126%Mar 20, 2025Yield to maturity4.074%Apr 11, 2025Yield to maturity4.246%May 5, 2025Yield to maturity4.024%May 28, 2025Yield to maturity4.141%Jun 20, 2025Yield to maturity4.030%Jul 15, 2025Yield to maturity4.104%Aug 6, 2025Yield to maturity3.814%Aug 28, 2025Yield to maturity3.749%Sep 22, 2025Yield to maturity3.742%Oct 15, 2025Yield to maturity3.656%Nov 6, 2025Yield to maturity3.709%Dec 2, 2025Yield to maturity3.681%Dec 24, 2025Yield to maturity3.736%Jan 20, 2026Yield to maturity3.869%Feb 11, 2026Yield to maturity3.749%Mar 6, 2026Yield to maturity3.735%Mar 30, 2026Yield to maturity3.982%Apr 21, 2026Yield to maturity3.911%May 13, 2026Yield to maturity4.116%Jun 5, 2026Yield to maturity4.290%Jun 30, 2026Yield to maturity4.196%Jul 23, 2026Yield to maturity4.455%Aug 14, 2026Yield to maturity4.344%Sep 8, 2026Yield to maturity4.556%Sep 10, 2026Yield to maturity4.730%

Price history

675 trading days to Sep 10, 2026

949698100102Jan 2, 2024Sep 10, 2026Jan 2, 2024Close98.781Jan 25, 2024Close97.969Feb 16, 2024Close96.656Mar 12, 2024Close97.531Apr 3, 2024Close96.469Apr 25, 2024Close94.469May 17, 2024Close96.094Jun 11, 2024Close96.313Jul 5, 2024Close97.281Jul 29, 2024Close98.094Aug 20, 2024Close100.031Sep 12, 2024Close101.125Oct 4, 2024Close99.344Oct 29, 2024Close97.719Nov 21, 2024Close96.813Dec 16, 2024Close97.094Jan 9, 2025Close95.938Feb 3, 2025Close96.563Feb 26, 2025Close98.063Mar 20, 2025Close98.344Apr 11, 2025Close97.500May 5, 2025Close98.625May 28, 2025Close98.063Jun 20, 2025Close98.625Jul 15, 2025Close98.281Aug 6, 2025Close99.688Aug 28, 2025Close100.000Sep 22, 2025Close100.031Oct 15, 2025Close100.438Nov 6, 2025Close100.188Dec 2, 2025Close100.313Dec 24, 2025Close100.063Jan 20, 2026Close99.469Feb 11, 2026Close100.000Mar 6, 2026Close100.063Mar 30, 2026Close99.000Apr 21, 2026Close99.313May 13, 2026Close98.469Jun 5, 2026Close97.781Jun 30, 2026Close98.188Jul 23, 2026Close97.188Aug 14, 2026Close97.656Sep 8, 2026Close96.875Sep 10, 2026Close96.219
The most recent 20 trading days of prices for 91282CJQ5.
DateBidOfferClose
Sep 10, 202696.35996.34496.219
Sep 9, 202696.75096.71996.719
Sep 8, 202696.92296.90696.875
Sep 4, 202697.01697.00096.969
Sep 3, 202697.17297.15697.094
Sep 2, 202696.95396.93896.938
Sep 1, 202697.04797.03196.906
Aug 31, 202697.14197.12597.125
Aug 28, 202697.28197.25097.156
Aug 27, 202697.62597.59497.531
Aug 26, 202697.60997.59497.594
Aug 25, 202697.67297.65697.688
Aug 24, 202697.54797.53197.469
Aug 21, 202697.40697.37597.406
Aug 20, 202697.57897.56397.594
Aug 19, 202697.67297.65697.688
Aug 18, 202697.64197.62597.625
Aug 17, 202697.67297.65697.625
Aug 14, 202697.73497.71997.656
Aug 13, 202697.82897.81397.813

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 91282CJQ5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 28, 2023Jan 2, 2024New issue$40.0bn$40.0bn2.50x3.859%

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.