Treasury note

91282CJR3 · 3.75% due December 31, 2028

Original term
5-Year
Maturity
Dec 31, 2028
Coupon
3.750%
Pays
Semi-Annual
Dated
Dec 31, 2023
First coupon
Jun 30, 2024
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$58.00bn
Held stripped
$188.6m
Share stripped
0.33%

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
4.570%
Modified duration
2.001 yr
DV01
0.0200
Convexity
0.0511
Dirty price
99.699

Where its rate sensitivity sits

<.01
0.01
0.03
1.73
0.28
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 2.048 years against a modified duration of 2.001.

Against the fitted curve

Priced 1.9 bp rich to the curve on that day, 3.73 cents per 100 of face.

That is -1.04 standard deviations from its own typical residual.

Yield to maturity, 714 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Jan 2, 2024Nov 9, 2026Jan 2, 2024Yield to maturity3.931%Jan 5, 2024Yield to maturity4.015%Jan 10, 2024Yield to maturity3.988%Jan 16, 2024Yield to maturity3.946%Jan 19, 2024Yield to maturity4.074%Jan 24, 2024Yield to maturity4.088%Jan 29, 2024Yield to maturity3.982%Feb 1, 2024Yield to maturity3.806%Feb 6, 2024Yield to maturity4.048%Feb 9, 2024Yield to maturity4.149%Feb 14, 2024Yield to maturity4.258%Feb 20, 2024Yield to maturity4.267%Feb 23, 2024Yield to maturity4.297%Feb 28, 2024Yield to maturity4.291%Mar 4, 2024Yield to maturity4.234%Mar 7, 2024Yield to maturity4.103%Mar 12, 2024Yield to maturity4.184%Mar 15, 2024Yield to maturity4.355%Mar 20, 2024Yield to maturity4.282%Mar 25, 2024Yield to maturity4.261%Mar 28, 2024Yield to maturity4.247%Apr 3, 2024Yield to maturity4.361%Apr 8, 2024Yield to maturity4.452%Apr 11, 2024Yield to maturity4.636%Apr 16, 2024Yield to maturity4.714%Apr 19, 2024Yield to maturity4.686%Apr 24, 2024Yield to maturity4.680%Apr 29, 2024Yield to maturity4.683%May 2, 2024Yield to maturity4.600%May 7, 2024Yield to maturity4.510%May 10, 2024Yield to maturity4.550%May 15, 2024Yield to maturity4.382%May 20, 2024Yield to maturity4.492%May 23, 2024Yield to maturity4.555%May 29, 2024Yield to maturity4.667%Jun 3, 2024Yield to maturity4.459%Jun 6, 2024Yield to maturity4.329%Jun 11, 2024Yield to maturity4.447%Jun 14, 2024Yield to maturity4.278%Jun 20, 2024Yield to maturity4.302%Jun 25, 2024Yield to maturity4.304%Jun 28, 2024Yield to maturity4.376%Jul 3, 2024Yield to maturity4.362%Jul 9, 2024Yield to maturity4.277%Jul 12, 2024Yield to maturity4.129%Jul 17, 2024Yield to maturity4.098%Jul 22, 2024Yield to maturity4.201%Jul 25, 2024Yield to maturity4.178%Jul 30, 2024Yield to maturity4.061%Aug 2, 2024Yield to maturity3.633%Aug 7, 2024Yield to maturity3.812%Aug 12, 2024Yield to maturity3.773%Aug 15, 2024Yield to maturity3.820%Aug 20, 2024Yield to maturity3.733%Aug 23, 2024Yield to maturity3.678%Aug 28, 2024Yield to maturity3.686%Sep 3, 2024Yield to maturity3.686%Sep 6, 2024Yield to maturity3.520%Sep 11, 2024Yield to maturity3.465%Sep 16, 2024Yield to maturity3.425%Sep 19, 2024Yield to maturity3.511%Sep 24, 2024Yield to maturity3.479%Sep 27, 2024Yield to maturity3.510%Oct 2, 2024Yield to maturity3.565%Oct 7, 2024Yield to maturity3.894%Oct 10, 2024Yield to maturity3.927%Oct 16, 2024Yield to maturity3.863%Oct 21, 2024Yield to maturity3.994%Oct 24, 2024Yield to maturity4.052%Oct 29, 2024Yield to maturity4.119%Nov 1, 2024Yield to maturity4.229%Nov 6, 2024Yield to maturity4.289%Nov 12, 2024Yield to maturity4.350%Nov 15, 2024Yield to maturity4.318%Nov 20, 2024Yield to maturity4.294%Nov 25, 2024Yield to maturity4.211%Nov 29, 2024Yield to maturity4.111%Dec 4, 2024Yield to maturity4.103%Dec 9, 2024Yield to maturity4.104%Dec 12, 2024Yield to maturity4.199%Dec 17, 2024Yield to maturity4.278%Dec 20, 2024Yield to maturity4.375%Dec 26, 2024Yield to maturity4.428%Dec 31, 2024Yield to maturity4.370%Jan 6, 2025Yield to maturity4.407%Jan 9, 2025Yield to maturity4.434%Jan 14, 2025Yield to maturity4.569%Jan 17, 2025Yield to maturity4.404%Jan 23, 2025Yield to maturity4.423%Jan 28, 2025Yield to maturity4.318%Jan 31, 2025Yield to maturity4.347%Feb 5, 2025Yield to maturity4.241%Feb 10, 2025Yield to maturity4.341%Feb 13, 2025Yield to maturity4.378%Feb 19, 2025Yield to maturity4.344%Feb 24, 2025Yield to maturity4.211%Feb 27, 2025Yield to maturity4.095%Mar 4, 2025Yield to maturity3.998%Mar 7, 2025Yield to maturity4.071%Mar 12, 2025Yield to maturity4.053%Mar 17, 2025Yield to maturity4.090%Mar 20, 2025Yield to maturity3.982%Mar 25, 2025Yield to maturity4.038%Mar 28, 2025Yield to maturity3.948%Apr 2, 2025Yield to maturity3.921%Apr 7, 2025Yield to maturity3.767%Apr 10, 2025Yield to maturity3.967%Apr 15, 2025Yield to maturity3.922%Apr 21, 2025Yield to maturity3.859%Apr 24, 2025Yield to maturity3.859%Apr 29, 2025Yield to maturity3.703%May 2, 2025Yield to maturity3.860%May 7, 2025Yield to maturity3.804%May 12, 2025Yield to maturity4.038%May 15, 2025Yield to maturity4.011%May 20, 2025Yield to maturity4.002%May 23, 2025Yield to maturity4.022%May 29, 2025Yield to maturity3.947%Jun 3, 2025Yield to maturity3.967%Jun 6, 2025Yield to maturity4.073%Jun 11, 2025Yield to maturity3.949%Jun 16, 2025Yield to maturity3.970%Jun 20, 2025Yield to maturity3.894%Jun 25, 2025Yield to maturity3.779%Jun 30, 2025Yield to maturity3.721%Jul 3, 2025Yield to maturity3.876%Jul 9, 2025Yield to maturity3.847%Jul 14, 2025Yield to maturity3.906%Jul 17, 2025Yield to maturity3.916%Jul 22, 2025Yield to maturity3.798%Jul 25, 2025Yield to maturity3.887%Jul 30, 2025Yield to maturity3.907%Aug 4, 2025Yield to maturity3.680%Aug 7, 2025Yield to maturity3.719%Aug 12, 2025Yield to maturity3.739%Aug 15, 2025Yield to maturity3.759%Aug 20, 2025Yield to maturity3.719%Aug 25, 2025Yield to maturity3.709%Aug 28, 2025Yield to maturity3.618%Sep 3, 2025Yield to maturity3.608%Sep 8, 2025Yield to maturity3.487%Sep 11, 2025Yield to maturity3.516%Sep 16, 2025Yield to maturity3.505%Sep 19, 2025Yield to maturity3.585%Sep 24, 2025Yield to maturity3.626%Sep 29, 2025Yield to maturity3.656%Oct 2, 2025Yield to maturity3.574%Oct 7, 2025Yield to maturity3.604%Oct 10, 2025Yield to maturity3.551%Oct 16, 2025Yield to maturity3.437%Oct 21, 2025Yield to maturity3.467%Oct 24, 2025Yield to maturity3.508%Oct 29, 2025Yield to maturity3.612%Nov 3, 2025Yield to maturity3.622%Nov 6, 2025Yield to maturity3.590%Nov 12, 2025Yield to maturity3.579%Nov 17, 2025Yield to maturity3.621%Nov 20, 2025Yield to maturity3.567%Nov 25, 2025Yield to maturity3.470%Dec 1, 2025Yield to maturity3.555%Dec 4, 2025Yield to maturity3.554%Dec 9, 2025Yield to maturity3.651%Dec 12, 2025Yield to maturity3.596%Dec 17, 2025Yield to maturity3.542%Dec 22, 2025Yield to maturity3.563%Dec 26, 2025Yield to maturity3.540%Dec 31, 2025Yield to maturity3.550%Jan 6, 2026Yield to maturity3.538%Jan 9, 2026Yield to maturity3.593%Jan 14, 2026Yield to maturity3.559%Jan 20, 2026Yield to maturity3.670%Jan 23, 2026Yield to maturity3.670%Jan 28, 2026Yield to maturity3.658%Feb 2, 2026Yield to maturity3.635%Feb 5, 2026Yield to maturity3.543%Feb 10, 2026Yield to maturity3.508%Feb 13, 2026Yield to maturity3.437%Feb 19, 2026Yield to maturity3.494%Feb 24, 2026Yield to maturity3.458%Feb 27, 2026Yield to maturity3.387%Mar 4, 2026Yield to maturity3.549%Mar 9, 2026Yield to maturity3.583%Mar 12, 2026Yield to maturity3.772%Mar 17, 2026Yield to maturity3.677%Mar 20, 2026Yield to maturity3.916%Mar 25, 2026Yield to maturity3.881%Mar 30, 2026Yield to maturity3.857%Apr 2, 2026Yield to maturity3.821%Apr 7, 2026Yield to maturity3.846%Apr 10, 2026Yield to maturity3.822%Apr 15, 2026Yield to maturity3.785%Apr 20, 2026Yield to maturity3.736%Apr 23, 2026Yield to maturity3.847%Apr 28, 2026Yield to maturity3.873%May 1, 2026Yield to maturity3.911%May 6, 2026Yield to maturity3.886%May 11, 2026Yield to maturity3.975%May 14, 2026Yield to maturity4.040%May 19, 2026Yield to maturity4.195%May 22, 2026Yield to maturity4.172%May 28, 2026Yield to maturity4.070%Jun 2, 2026Yield to maturity4.085%Jun 5, 2026Yield to maturity4.217%Jun 10, 2026Yield to maturity4.179%Jun 15, 2026Yield to maturity4.103%Jun 18, 2026Yield to maturity4.211%Jun 24, 2026Yield to maturity4.173%Jun 29, 2026Yield to maturity4.122%Jul 2, 2026Yield to maturity4.164%Jul 8, 2026Yield to maturity4.233%Jul 13, 2026Yield to maturity4.303%Jul 16, 2026Yield to maturity4.196%Jul 21, 2026Yield to maturity4.294%Jul 24, 2026Yield to maturity4.366%Jul 29, 2026Yield to maturity4.285%Aug 3, 2026Yield to maturity4.301%Aug 6, 2026Yield to maturity4.303%Aug 11, 2026Yield to maturity4.278%Aug 14, 2026Yield to maturity4.210%Aug 19, 2026Yield to maturity4.212%Aug 24, 2026Yield to maturity4.285%Aug 27, 2026Yield to maturity4.273%Sep 1, 2026Yield to maturity4.434%Sep 4, 2026Yield to maturity4.424%Sep 10, 2026Yield to maturity4.616%Sep 15, 2026Yield to maturity4.724%Sep 18, 2026Yield to maturity4.804%Sep 23, 2026Yield to maturity4.927%Sep 28, 2026Yield to maturity4.964%Oct 1, 2026Yield to maturity4.832%Oct 6, 2026Yield to maturity4.838%Oct 9, 2026Yield to maturity4.846%Oct 15, 2026Yield to maturity4.804%Oct 20, 2026Yield to maturity4.826%Oct 23, 2026Yield to maturity4.709%Oct 28, 2026Yield to maturity4.743%Nov 2, 2026Yield to maturity4.609%Nov 5, 2026Yield to maturity4.488%Nov 9, 2026Yield to maturity4.570%

Price history

714 trading days to Nov 9, 2026

9596979899100101102Jan 2, 2024Nov 9, 2026Jan 2, 2024Close99.188Jan 5, 2024Close98.813Jan 10, 2024Close98.938Jan 16, 2024Close99.125Jan 19, 2024Close98.563Jan 24, 2024Close98.500Jan 29, 2024Close98.969Feb 1, 2024Close99.750Feb 6, 2024Close98.688Feb 9, 2024Close98.250Feb 14, 2024Close97.781Feb 20, 2024Close97.750Feb 23, 2024Close97.625Feb 28, 2024Close97.656Mar 4, 2024Close97.906Mar 7, 2024Close98.469Mar 12, 2024Close98.125Mar 15, 2024Close97.406Mar 20, 2024Close97.719Mar 25, 2024Close97.813Mar 28, 2024Close97.875Apr 3, 2024Close97.406Apr 8, 2024Close97.031Apr 11, 2024Close96.281Apr 16, 2024Close95.969Apr 19, 2024Close96.094Apr 24, 2024Close96.125Apr 29, 2024Close96.125May 2, 2024Close96.469May 7, 2024Close96.844May 10, 2024Close96.688May 15, 2024Close97.375May 20, 2024Close96.938May 23, 2024Close96.688May 29, 2024Close96.250Jun 3, 2024Close97.094Jun 6, 2024Close97.625Jun 11, 2024Close97.156Jun 14, 2024Close97.844Jun 20, 2024Close97.750Jun 25, 2024Close97.750Jun 28, 2024Close97.469Jul 3, 2024Close97.531Jul 9, 2024Close97.875Jul 12, 2024Close98.469Jul 17, 2024Close98.594Jul 22, 2024Close98.188Jul 25, 2024Close98.281Jul 30, 2024Close98.750Aug 2, 2024Close100.469Aug 7, 2024Close99.750Aug 12, 2024Close99.906Aug 15, 2024Close99.719Aug 20, 2024Close100.063Aug 23, 2024Close100.281Aug 28, 2024Close100.250Sep 3, 2024Close100.250Sep 6, 2024Close100.906Sep 11, 2024Close101.125Sep 16, 2024Close101.281Sep 19, 2024Close100.938Sep 24, 2024Close101.063Sep 27, 2024Close100.938Oct 2, 2024Close100.719Oct 7, 2024Close99.438Oct 10, 2024Close99.313Oct 16, 2024Close99.563Oct 21, 2024Close99.063Oct 24, 2024Close98.844Oct 29, 2024Close98.594Nov 1, 2024Close98.188Nov 6, 2024Close97.969Nov 12, 2024Close97.750Nov 15, 2024Close97.875Nov 20, 2024Close97.969Nov 25, 2024Close98.281Nov 29, 2024Close98.656Dec 4, 2024Close98.688Dec 9, 2024Close98.688Dec 12, 2024Close98.344Dec 17, 2024Close98.063Dec 20, 2024Close97.719Dec 26, 2024Close97.531Dec 31, 2024Close97.750Jan 6, 2025Close97.625Jan 9, 2025Close97.531Jan 14, 2025Close97.063Jan 17, 2025Close97.656Jan 23, 2025Close97.594Jan 28, 2025Close97.969Jan 31, 2025Close97.875Feb 5, 2025Close98.250Feb 10, 2025Close97.906Feb 13, 2025Close97.781Feb 19, 2025Close97.906Feb 24, 2025Close98.375Feb 27, 2025Close98.781Mar 4, 2025Close99.125Mar 7, 2025Close98.875Mar 12, 2025Close98.938Mar 17, 2025Close98.813Mar 20, 2025Close99.188Mar 25, 2025Close99.000Mar 28, 2025Close99.313Apr 2, 2025Close99.406Apr 7, 2025Close99.938Apr 10, 2025Close99.250Apr 15, 2025Close99.406Apr 21, 2025Close99.625Apr 24, 2025Close99.625Apr 29, 2025Close100.156May 2, 2025Close99.625May 7, 2025Close99.813May 12, 2025Close99.031May 15, 2025Close99.125May 20, 2025Close99.156May 23, 2025Close99.094May 29, 2025Close99.344Jun 3, 2025Close99.281Jun 6, 2025Close98.938Jun 11, 2025Close99.344Jun 16, 2025Close99.281Jun 20, 2025Close99.531Jun 25, 2025Close99.906Jun 30, 2025Close100.094Jul 3, 2025Close99.594Jul 9, 2025Close99.688Jul 14, 2025Close99.500Jul 17, 2025Close99.469Jul 22, 2025Close99.844Jul 25, 2025Close99.563Jul 30, 2025Close99.500Aug 4, 2025Close100.219Aug 7, 2025Close100.094Aug 12, 2025Close100.031Aug 15, 2025Close99.969Aug 20, 2025Close100.094Aug 25, 2025Close100.125Aug 28, 2025Close100.406Sep 3, 2025Close100.438Sep 8, 2025Close100.813Sep 11, 2025Close100.719Sep 16, 2025Close100.750Sep 19, 2025Close100.500Sep 24, 2025Close100.375Sep 29, 2025Close100.281Oct 2, 2025Close100.531Oct 7, 2025Close100.438Oct 10, 2025Close100.594Oct 16, 2025Close100.938Oct 21, 2025Close100.844Oct 24, 2025Close100.719Oct 29, 2025Close100.406Nov 3, 2025Close100.375Nov 6, 2025Close100.469Nov 12, 2025Close100.500Nov 17, 2025Close100.375Nov 20, 2025Close100.531Nov 25, 2025Close100.813Dec 1, 2025Close100.563Dec 4, 2025Close100.563Dec 9, 2025Close100.281Dec 12, 2025Close100.438Dec 17, 2025Close100.594Dec 22, 2025Close100.531Dec 26, 2025Close100.594Dec 31, 2025Close100.563Jan 6, 2026Close100.594Jan 9, 2026Close100.438Jan 14, 2026Close100.531Jan 20, 2026Close100.219Jan 23, 2026Close100.219Jan 28, 2026Close100.250Feb 2, 2026Close100.313Feb 5, 2026Close100.563Feb 10, 2026Close100.656Feb 13, 2026Close100.844Feb 19, 2026Close100.688Feb 24, 2026Close100.781Feb 27, 2026Close100.969Mar 4, 2026Close100.531Mar 9, 2026Close100.438Mar 12, 2026Close99.938Mar 17, 2026Close100.188Mar 20, 2026Close99.563Mar 25, 2026Close99.656Mar 30, 2026Close99.719Apr 2, 2026Close99.813Apr 7, 2026Close99.750Apr 10, 2026Close99.813Apr 15, 2026Close99.906Apr 20, 2026Close100.031Apr 23, 2026Close99.750Apr 28, 2026Close99.688May 1, 2026Close99.594May 6, 2026Close99.656May 11, 2026Close99.438May 14, 2026Close99.281May 19, 2026Close98.906May 22, 2026Close98.969May 28, 2026Close99.219Jun 2, 2026Close99.188Jun 5, 2026Close98.875Jun 10, 2026Close98.969Jun 15, 2026Close99.156Jun 18, 2026Close98.906Jun 24, 2026Close99.000Jun 29, 2026Close99.125Jul 2, 2026Close99.031Jul 8, 2026Close98.875Jul 13, 2026Close98.719Jul 16, 2026Close98.969Jul 21, 2026Close98.750Jul 24, 2026Close98.594Jul 29, 2026Close98.781Aug 3, 2026Close98.750Aug 6, 2026Close98.750Aug 11, 2026Close98.813Aug 14, 2026Close98.969Aug 19, 2026Close98.969Aug 24, 2026Close98.813Aug 27, 2026Close98.844Sep 1, 2026Close98.500Sep 4, 2026Close98.531Sep 10, 2026Close98.125Sep 15, 2026Close97.906Sep 18, 2026Close97.750Sep 23, 2026Close97.500Sep 28, 2026Close97.438Oct 1, 2026Close97.719Oct 6, 2026Close97.719Oct 9, 2026Close97.719Oct 15, 2026Close97.813Oct 20, 2026Close97.781Oct 23, 2026Close98.031Oct 28, 2026Close97.969Nov 2, 2026Close98.250Nov 5, 2026Close98.500Nov 9, 2026Close98.344
The most recent 20 trading days of prices for 91282CJR3.
DateBidOfferClose
Nov 9, 202698.31398.32898.344
Nov 6, 202698.40698.42298.406
Nov 5, 202698.37598.39198.500
Nov 4, 202698.25098.26698.281
Nov 3, 202698.21998.23498.188
Nov 2, 202698.25098.26698.250
Oct 30, 202698.18898.20398.250
Oct 29, 202698.12598.14198.125
Oct 28, 202697.84497.85997.969
Oct 27, 202697.93897.95397.906
Oct 26, 202697.96997.98497.938
Oct 23, 202698.00098.01698.031
Oct 22, 202697.96997.98498.063
Oct 21, 202697.78197.79797.750
Oct 20, 202697.81397.82897.781
Oct 19, 202697.81397.82897.813
Oct 16, 202697.90697.92297.906
Oct 15, 202697.81397.82897.813
Oct 14, 202697.56397.59497.688
Oct 13, 202697.68897.70397.719

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 91282CJR3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 27, 2023Jan 2, 2024New issue$58.0bn$58.0bn2.50x3.801%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.