Treasury note

91282CJW2 · 4% due January 31, 2029

Original term
5-Year
Maturity
Jan 31, 2029
Coupon
4.000%
Pays
Semi-Annual
Dated
Jan 31, 2024
First coupon
Jul 31, 2024
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$60.75bn
Held stripped
$92.8m
Share stripped
0.15%

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
4.580%
Modified duration
2.078 yr
DV01
0.0208
Convexity
0.0547
Dirty price
99.890

Where its rate sensitivity sits

<.01
0.01
0.03
1.62
0.46
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 2.127 years against a modified duration of 2.078.

Against the fitted curve

Priced 1.6 bp rich to the curve on that day, 3.29 cents per 100 of face.

That is -0.89 standard deviations from its own typical residual.

Yield to maturity, 694 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Jan 31, 2024Nov 9, 2026Jan 31, 2024Yield to maturity3.910%Feb 5, 2024Yield to maturity4.126%Feb 8, 2024Yield to maturity4.119%Feb 13, 2024Yield to maturity4.310%Feb 16, 2024Yield to maturity4.290%Feb 22, 2024Yield to maturity4.333%Feb 27, 2024Yield to maturity4.334%Mar 1, 2024Yield to maturity4.177%Mar 6, 2024Yield to maturity4.134%Mar 11, 2024Yield to maturity4.099%Mar 14, 2024Yield to maturity4.307%Mar 19, 2024Yield to maturity4.323%Mar 22, 2024Yield to maturity4.215%Mar 27, 2024Yield to maturity4.201%Apr 2, 2024Yield to maturity4.369%Apr 5, 2024Yield to maturity4.392%Apr 10, 2024Yield to maturity4.629%Apr 15, 2024Yield to maturity4.660%Apr 18, 2024Yield to maturity4.699%Apr 23, 2024Yield to maturity4.641%Apr 26, 2024Yield to maturity4.710%May 1, 2024Yield to maturity4.666%May 6, 2024Yield to maturity4.510%May 9, 2024Yield to maturity4.488%May 14, 2024Yield to maturity4.482%May 17, 2024Yield to maturity4.460%May 22, 2024Yield to maturity4.484%May 28, 2024Yield to maturity4.599%May 31, 2024Yield to maturity4.548%Jun 5, 2024Yield to maturity4.336%Jun 10, 2024Yield to maturity4.504%Jun 13, 2024Yield to maturity4.269%Jun 18, 2024Yield to maturity4.270%Jun 24, 2024Yield to maturity4.309%Jun 27, 2024Yield to maturity4.333%Jul 2, 2024Yield to maturity4.418%Jul 8, 2024Yield to maturity4.251%Jul 11, 2024Yield to maturity4.152%Jul 16, 2024Yield to maturity4.099%Jul 19, 2024Yield to maturity4.183%Jul 24, 2024Yield to maturity4.161%Jul 29, 2024Yield to maturity4.084%Aug 1, 2024Yield to maturity3.862%Aug 6, 2024Yield to maturity3.748%Aug 9, 2024Yield to maturity3.816%Aug 14, 2024Yield to maturity3.685%Aug 19, 2024Yield to maturity3.776%Aug 22, 2024Yield to maturity3.745%Aug 27, 2024Yield to maturity3.683%Aug 30, 2024Yield to maturity3.743%Sep 5, 2024Yield to maturity3.566%Sep 10, 2024Yield to maturity3.442%Sep 13, 2024Yield to maturity3.441%Sep 18, 2024Yield to maturity3.493%Sep 23, 2024Yield to maturity3.515%Sep 26, 2024Yield to maturity3.568%Oct 1, 2024Yield to maturity3.528%Oct 4, 2024Yield to maturity3.832%Oct 9, 2024Yield to maturity3.919%Oct 15, 2024Yield to maturity3.879%Oct 18, 2024Yield to maturity3.895%Oct 23, 2024Yield to maturity4.071%Oct 28, 2024Yield to maturity4.128%Oct 31, 2024Yield to maturity4.169%Nov 5, 2024Yield to maturity4.178%Nov 8, 2024Yield to maturity4.227%Nov 14, 2024Yield to maturity4.343%Nov 19, 2024Yield to maturity4.270%Nov 22, 2024Yield to maturity4.329%Nov 27, 2024Yield to maturity4.164%Dec 3, 2024Yield to maturity4.148%Dec 6, 2024Yield to maturity4.073%Dec 11, 2024Yield to maturity4.157%Dec 16, 2024Yield to maturity4.266%Dec 19, 2024Yield to maturity4.427%Dec 24, 2024Yield to maturity4.446%Dec 30, 2024Yield to maturity4.362%Jan 3, 2025Yield to maturity4.398%Jan 8, 2025Yield to maturity4.424%Jan 13, 2025Yield to maturity4.589%Jan 16, 2025Yield to maturity4.375%Jan 22, 2025Yield to maturity4.411%Jan 27, 2025Yield to maturity4.309%Jan 30, 2025Yield to maturity4.292%Feb 4, 2025Yield to maturity4.301%Feb 7, 2025Yield to maturity4.337%Feb 12, 2025Yield to maturity4.460%Feb 18, 2025Yield to maturity4.383%Feb 21, 2025Yield to maturity4.243%Feb 26, 2025Yield to maturity4.078%Mar 3, 2025Yield to maturity3.973%Mar 6, 2025Yield to maturity4.043%Mar 11, 2025Yield to maturity4.008%Mar 14, 2025Yield to maturity4.069%Mar 19, 2025Yield to maturity4.008%Mar 24, 2025Yield to maturity4.070%Mar 27, 2025Yield to maturity4.061%Apr 1, 2025Yield to maturity3.884%Apr 4, 2025Yield to maturity3.698%Apr 9, 2025Yield to maturity4.008%Apr 14, 2025Yield to maturity3.963%Apr 17, 2025Yield to maturity3.882%Apr 23, 2025Yield to maturity3.945%Apr 28, 2025Yield to maturity3.747%May 1, 2025Yield to maturity3.755%May 6, 2025Yield to maturity3.836%May 9, 2025Yield to maturity3.935%May 14, 2025Yield to maturity4.118%May 19, 2025Yield to maturity4.008%May 22, 2025Yield to maturity4.045%May 28, 2025Yield to maturity4.008%Jun 2, 2025Yield to maturity3.962%Jun 5, 2025Yield to maturity3.943%Jun 10, 2025Yield to maturity4.027%Jun 13, 2025Yield to maturity3.962%Jun 18, 2025Yield to maturity3.924%Jun 24, 2025Yield to maturity3.793%Jun 27, 2025Yield to maturity3.764%Jul 2, 2025Yield to maturity3.811%Jul 8, 2025Yield to maturity3.923%Jul 11, 2025Yield to maturity3.914%Jul 16, 2025Yield to maturity3.904%Jul 21, 2025Yield to maturity3.837%Jul 24, 2025Yield to maturity3.904%Jul 29, 2025Yield to maturity3.846%Aug 1, 2025Yield to maturity3.701%Aug 6, 2025Yield to maturity3.691%Aug 11, 2025Yield to maturity3.757%Aug 14, 2025Yield to maturity3.737%Aug 19, 2025Yield to maturity3.746%Aug 22, 2025Yield to maturity3.677%Aug 27, 2025Yield to maturity3.627%Sep 2, 2025Yield to maturity3.655%Sep 5, 2025Yield to maturity3.507%Sep 10, 2025Yield to maturity3.525%Sep 15, 2025Yield to maturity3.533%Sep 18, 2025Yield to maturity3.581%Sep 23, 2025Yield to maturity3.599%Sep 26, 2025Yield to maturity3.688%Oct 1, 2025Yield to maturity3.587%Oct 6, 2025Yield to maturity3.645%Oct 9, 2025Yield to maturity3.645%Oct 15, 2025Yield to maturity3.532%Oct 20, 2025Yield to maturity3.490%Oct 23, 2025Yield to maturity3.519%Oct 28, 2025Yield to maturity3.517%Oct 31, 2025Yield to maturity3.628%Nov 5, 2025Yield to maturity3.668%Nov 10, 2025Yield to maturity3.625%Nov 14, 2025Yield to maturity3.644%Nov 19, 2025Yield to maturity3.612%Nov 24, 2025Yield to maturity3.507%Nov 28, 2025Yield to maturity3.515%Dec 3, 2025Yield to maturity3.524%Dec 8, 2025Yield to maturity3.628%Dec 11, 2025Yield to maturity3.595%Dec 16, 2025Yield to maturity3.540%Dec 19, 2025Yield to maturity3.549%Dec 24, 2025Yield to maturity3.601%Dec 30, 2025Yield to maturity3.514%Jan 5, 2026Yield to maturity3.544%Jan 8, 2026Yield to maturity3.575%Jan 13, 2026Yield to maturity3.584%Jan 16, 2026Yield to maturity3.670%Jan 22, 2026Yield to maturity3.680%Jan 27, 2026Yield to maturity3.646%Jan 30, 2026Yield to maturity3.600%Feb 4, 2026Yield to maturity3.643%Feb 9, 2026Yield to maturity3.564%Feb 12, 2026Yield to maturity3.518%Feb 18, 2026Yield to maturity3.504%Feb 23, 2026Yield to maturity3.446%Feb 26, 2026Yield to maturity3.456%Mar 3, 2026Yield to maturity3.510%Mar 6, 2026Yield to maturity3.598%Mar 11, 2026Yield to maturity3.665%Mar 16, 2026Yield to maturity3.698%Mar 19, 2026Yield to maturity3.801%Mar 24, 2026Yield to maturity3.952%Mar 27, 2026Yield to maturity3.951%Apr 1, 2026Yield to maturity3.846%Apr 6, 2026Yield to maturity3.880%Apr 9, 2026Yield to maturity3.809%Apr 14, 2026Yield to maturity3.761%Apr 17, 2026Yield to maturity3.724%Apr 22, 2026Yield to maturity3.807%Apr 27, 2026Yield to maturity3.830%Apr 30, 2026Yield to maturity3.901%May 5, 2026Yield to maturity3.974%May 8, 2026Yield to maturity3.925%May 13, 2026Yield to maturity4.010%May 18, 2026Yield to maturity4.146%May 21, 2026Yield to maturity4.134%May 27, 2026Yield to maturity4.085%Jun 1, 2026Yield to maturity4.098%Jun 4, 2026Yield to maturity4.099%Jun 9, 2026Yield to maturity4.175%Jun 12, 2026Yield to maturity4.138%Jun 17, 2026Yield to maturity4.240%Jun 23, 2026Yield to maturity4.229%Jun 26, 2026Yield to maturity4.102%Jul 1, 2026Yield to maturity4.205%Jul 7, 2026Yield to maturity4.220%Jul 10, 2026Yield to maturity4.247%Jul 15, 2026Yield to maturity4.169%Jul 20, 2026Yield to maturity4.250%Jul 23, 2026Yield to maturity4.397%Jul 28, 2026Yield to maturity4.306%Jul 31, 2026Yield to maturity4.347%Aug 5, 2026Yield to maturity4.241%Aug 10, 2026Yield to maturity4.296%Aug 13, 2026Yield to maturity4.202%Aug 18, 2026Yield to maturity4.243%Aug 21, 2026Yield to maturity4.286%Aug 26, 2026Yield to maturity4.259%Aug 31, 2026Yield to maturity4.385%Sep 3, 2026Yield to maturity4.386%Sep 9, 2026Yield to maturity4.472%Sep 14, 2026Yield to maturity4.701%Sep 17, 2026Yield to maturity4.718%Sep 22, 2026Yield to maturity4.793%Sep 25, 2026Yield to maturity4.898%Sep 30, 2026Yield to maturity4.945%Oct 5, 2026Yield to maturity4.906%Oct 8, 2026Yield to maturity4.822%Oct 14, 2026Yield to maturity4.871%Oct 19, 2026Yield to maturity4.817%Oct 22, 2026Yield to maturity4.701%Oct 27, 2026Yield to maturity4.780%Oct 30, 2026Yield to maturity4.620%Nov 4, 2026Yield to maturity4.607%Nov 9, 2026Yield to maturity4.580%

Price history

694 trading days to Nov 9, 2026

96979899100101102103Jan 31, 2024Nov 9, 2026Jan 31, 2024Close100.406Feb 5, 2024Close99.438Feb 8, 2024Close99.469Feb 13, 2024Close98.625Feb 16, 2024Close98.719Feb 22, 2024Close98.531Feb 27, 2024Close98.531Mar 1, 2024Close99.219Mar 6, 2024Close99.406Mar 11, 2024Close99.563Mar 14, 2024Close98.656Mar 19, 2024Close98.594Mar 22, 2024Close99.063Mar 27, 2024Close99.125Apr 2, 2024Close98.406Apr 5, 2024Close98.313Apr 10, 2024Close97.313Apr 15, 2024Close97.188Apr 18, 2024Close97.031Apr 23, 2024Close97.281Apr 26, 2024Close97.000May 1, 2024Close97.188May 6, 2024Close97.844May 9, 2024Close97.938May 14, 2024Close97.969May 17, 2024Close98.063May 22, 2024Close97.969May 28, 2024Close97.500May 31, 2024Close97.719Jun 5, 2024Close98.594Jun 10, 2024Close97.906Jun 13, 2024Close98.875Jun 18, 2024Close98.875Jun 24, 2024Close98.719Jun 27, 2024Close98.625Jul 2, 2024Close98.281Jul 8, 2024Close98.969Jul 11, 2024Close99.375Jul 16, 2024Close99.594Jul 19, 2024Close99.250Jul 24, 2024Close99.344Jul 29, 2024Close99.656Aug 1, 2024Close100.563Aug 6, 2024Close101.031Aug 9, 2024Close100.750Aug 14, 2024Close101.281Aug 19, 2024Close100.906Aug 22, 2024Close101.031Aug 27, 2024Close101.281Aug 30, 2024Close101.031Sep 5, 2024Close101.750Sep 10, 2024Close102.250Sep 13, 2024Close102.250Sep 18, 2024Close102.031Sep 23, 2024Close101.938Sep 26, 2024Close101.719Oct 1, 2024Close101.875Oct 4, 2024Close100.656Oct 9, 2024Close100.313Oct 15, 2024Close100.469Oct 18, 2024Close100.406Oct 23, 2024Close99.719Oct 28, 2024Close99.500Oct 31, 2024Close99.344Nov 5, 2024Close99.313Nov 8, 2024Close99.125Nov 14, 2024Close98.688Nov 19, 2024Close98.969Nov 22, 2024Close98.750Nov 27, 2024Close99.375Dec 3, 2024Close99.438Dec 6, 2024Close99.719Dec 11, 2024Close99.406Dec 16, 2024Close99.000Dec 19, 2024Close98.406Dec 24, 2024Close98.344Dec 30, 2024Close98.656Jan 3, 2025Close98.531Jan 8, 2025Close98.438Jan 13, 2025Close97.844Jan 16, 2025Close98.625Jan 22, 2025Close98.500Jan 27, 2025Close98.875Jan 30, 2025Close98.938Feb 4, 2025Close98.906Feb 7, 2025Close98.781Feb 12, 2025Close98.344Feb 18, 2025Close98.625Feb 21, 2025Close99.125Feb 26, 2025Close99.719Mar 3, 2025Close100.094Mar 6, 2025Close99.844Mar 11, 2025Close99.969Mar 14, 2025Close99.750Mar 19, 2025Close99.969Mar 24, 2025Close99.750Mar 27, 2025Close99.781Apr 1, 2025Close100.406Apr 4, 2025Close101.063Apr 9, 2025Close99.969Apr 14, 2025Close100.125Apr 17, 2025Close100.406Apr 23, 2025Close100.188Apr 28, 2025Close100.875May 1, 2025Close100.844May 6, 2025Close100.563May 9, 2025Close100.219May 14, 2025Close99.594May 19, 2025Close99.969May 22, 2025Close99.844May 28, 2025Close99.969Jun 2, 2025Close100.125Jun 5, 2025Close100.188Jun 10, 2025Close99.906Jun 13, 2025Close100.125Jun 18, 2025Close100.250Jun 24, 2025Close100.688Jun 27, 2025Close100.781Jul 2, 2025Close100.625Jul 8, 2025Close100.250Jul 11, 2025Close100.281Jul 16, 2025Close100.313Jul 21, 2025Close100.531Jul 24, 2025Close100.313Jul 29, 2025Close100.500Aug 1, 2025Close100.969Aug 6, 2025Close101.000Aug 11, 2025Close100.781Aug 14, 2025Close100.844Aug 19, 2025Close100.813Aug 22, 2025Close101.031Aug 27, 2025Close101.188Sep 2, 2025Close101.094Sep 5, 2025Close101.563Sep 10, 2025Close101.500Sep 15, 2025Close101.469Sep 18, 2025Close101.313Sep 23, 2025Close101.250Sep 26, 2025Close100.969Oct 1, 2025Close101.281Oct 6, 2025Close101.094Oct 9, 2025Close101.094Oct 15, 2025Close101.438Oct 20, 2025Close101.563Oct 23, 2025Close101.469Oct 28, 2025Close101.469Oct 31, 2025Close101.125Nov 5, 2025Close101.000Nov 10, 2025Close101.125Nov 14, 2025Close101.063Nov 19, 2025Close101.156Nov 24, 2025Close101.469Nov 28, 2025Close101.438Dec 3, 2025Close101.406Dec 8, 2025Close101.094Dec 11, 2025Close101.188Dec 16, 2025Close101.344Dec 19, 2025Close101.313Dec 24, 2025Close101.156Dec 30, 2025Close101.406Jan 5, 2026Close101.313Jan 8, 2026Close101.219Jan 13, 2026Close101.188Jan 16, 2026Close100.938Jan 22, 2026Close100.906Jan 27, 2026Close101.000Jan 30, 2026Close101.125Feb 4, 2026Close101.000Feb 9, 2026Close101.219Feb 12, 2026Close101.344Feb 18, 2026Close101.375Feb 23, 2026Close101.531Feb 26, 2026Close101.500Mar 3, 2026Close101.344Mar 6, 2026Close101.094Mar 11, 2026Close100.906Mar 16, 2026Close100.813Mar 19, 2026Close100.531Mar 24, 2026Close100.125Mar 27, 2026Close100.125Apr 1, 2026Close100.406Apr 6, 2026Close100.313Apr 9, 2026Close100.500Apr 14, 2026Close100.625Apr 17, 2026Close100.719Apr 22, 2026Close100.500Apr 27, 2026Close100.438Apr 30, 2026Close100.250May 5, 2026Close100.063May 8, 2026Close100.188May 13, 2026Close99.969May 18, 2026Close99.625May 21, 2026Close99.656May 27, 2026Close99.781Jun 1, 2026Close99.750Jun 4, 2026Close99.750Jun 9, 2026Close99.563Jun 12, 2026Close99.656Jun 17, 2026Close99.406Jun 23, 2026Close99.438Jun 26, 2026Close99.750Jul 1, 2026Close99.500Jul 7, 2026Close99.469Jul 10, 2026Close99.406Jul 15, 2026Close99.594Jul 20, 2026Close99.406Jul 23, 2026Close99.063Jul 28, 2026Close99.281Jul 31, 2026Close99.188Aug 5, 2026Close99.438Aug 10, 2026Close99.313Aug 13, 2026Close99.531Aug 18, 2026Close99.438Aug 21, 2026Close99.344Aug 26, 2026Close99.406Aug 31, 2026Close99.125Sep 3, 2026Close99.125Sep 9, 2026Close98.938Sep 14, 2026Close98.438Sep 17, 2026Close98.406Sep 22, 2026Close98.250Sep 25, 2026Close98.031Sep 30, 2026Close97.938Oct 5, 2026Close98.031Oct 8, 2026Close98.219Oct 14, 2026Close98.125Oct 19, 2026Close98.250Oct 22, 2026Close98.500Oct 27, 2026Close98.344Oct 30, 2026Close98.688Nov 4, 2026Close98.719Nov 9, 2026Close98.781
The most recent 20 trading days of prices for 91282CJW2.
DateBidOfferClose
Nov 9, 202698.75098.76698.781
Nov 6, 202698.81398.84498.844
Nov 5, 202698.81398.82898.938
Nov 4, 202698.65698.68898.719
Nov 3, 202698.62598.65698.625
Nov 2, 202698.68898.70398.656
Oct 30, 202698.59498.62598.688
Oct 29, 202698.53198.56398.531
Oct 28, 202698.28198.29798.375
Oct 27, 202698.37598.39198.344
Oct 26, 202698.40698.42298.375
Oct 23, 202698.43898.45398.438
Oct 22, 202698.40698.42298.500
Oct 21, 202698.21998.23498.188
Oct 20, 202698.25098.26698.219
Oct 19, 202698.25098.26698.250
Oct 16, 202698.34498.35998.313
Oct 15, 202698.21998.25098.250
Oct 14, 202698.00098.03198.125
Oct 13, 202698.12598.14198.156

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 91282CJW2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 24, 2024Jan 31, 2024New issue$61.0bn$61.0bn2.31x4.055%

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.