Treasury note

91282CKG5 · 4.125% due March 31, 2029

Original term
5-Year
Maturity
Mar 31, 2029
Coupon
4.125%
Pays
Semi-Annual
Dated
Mar 31, 2024
First coupon
Sep 30, 2024
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$67.00bn
Held stripped
$0.0m
Share stripped
0.00%

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
4.623%
Modified duration
2.349 yr
DV01
0.0236
Convexity
6.907
Dirty price
100.661

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 5 of twelve buckets, summing to 2.402 years against a modified duration of 2.349.

Against the fitted curve

Priced 1.9 bp rich to the curve on that day, 4.57 cents per 100 of face.

That is -1.14 standard deviations from its own typical residual.

Yield to maturity, 613 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Apr 1, 2024Sep 10, 2026Apr 1, 2024Yield to maturity4.336%Apr 19, 2024Yield to maturity4.661%May 9, 2024Yield to maturity4.483%May 30, 2024Yield to maturity4.590%Jun 20, 2024Yield to maturity4.284%Jul 11, 2024Yield to maturity4.138%Jul 31, 2024Yield to maturity3.976%Aug 20, 2024Yield to maturity3.715%Sep 10, 2024Yield to maturity3.444%Sep 30, 2024Yield to maturity3.594%Oct 21, 2024Yield to maturity3.993%Nov 8, 2024Yield to maturity4.219%Dec 2, 2024Yield to maturity4.116%Dec 20, 2024Yield to maturity4.375%Jan 13, 2025Yield to maturity4.602%Feb 3, 2025Yield to maturity4.348%Feb 24, 2025Yield to maturity4.225%Mar 14, 2025Yield to maturity4.074%Apr 3, 2025Yield to maturity3.725%Apr 23, 2025Yield to maturity3.951%May 13, 2025Yield to maturity4.080%Jun 3, 2025Yield to maturity3.981%Jun 24, 2025Yield to maturity3.800%Jul 15, 2025Yield to maturity3.977%Aug 4, 2025Yield to maturity3.681%Aug 22, 2025Yield to maturity3.685%Sep 12, 2025Yield to maturity3.566%Oct 2, 2025Yield to maturity3.597%Oct 23, 2025Yield to maturity3.520%Nov 13, 2025Yield to maturity3.628%Dec 4, 2025Yield to maturity3.580%Dec 24, 2025Yield to maturity3.601%Jan 15, 2026Yield to maturity3.634%Feb 5, 2026Yield to maturity3.562%Feb 26, 2026Yield to maturity3.468%Mar 18, 2026Yield to maturity3.773%Apr 7, 2026Yield to maturity3.856%Apr 27, 2026Yield to maturity3.828%May 15, 2026Yield to maturity4.147%Jun 5, 2026Yield to maturity4.218%Jun 26, 2026Yield to maturity4.099%Jul 17, 2026Yield to maturity4.210%Aug 6, 2026Yield to maturity4.300%Aug 26, 2026Yield to maturity4.265%Sep 10, 2026Yield to maturity4.623%

Price history

613 trading days to Sep 10, 2026

979899100101102103Apr 1, 2024Sep 10, 2026Apr 1, 2024Close99.063Apr 19, 2024Close97.656May 9, 2024Close98.438May 30, 2024Close98.000Jun 20, 2024Close99.313Jul 11, 2024Close99.938Jul 31, 2024Close100.625Aug 20, 2024Close101.719Sep 10, 2024Close102.844Sep 30, 2024Close102.188Oct 21, 2024Close100.531Nov 8, 2024Close99.625Dec 2, 2024Close100.031Dec 20, 2024Close99.031Jan 13, 2025Close98.188Feb 3, 2025Close99.156Feb 24, 2025Close99.625Mar 14, 2025Close100.188Apr 3, 2025Close101.469Apr 23, 2025Close100.625May 13, 2025Close100.156Jun 3, 2025Close100.500Jun 24, 2025Close101.125Jul 15, 2025Close100.500Aug 4, 2025Close101.500Aug 22, 2025Close101.469Sep 12, 2025Close101.844Oct 2, 2025Close101.719Oct 23, 2025Close101.938Nov 13, 2025Close101.563Dec 4, 2025Close101.688Dec 24, 2025Close101.594Jan 15, 2026Close101.469Feb 5, 2026Close101.656Feb 26, 2026Close101.906Mar 18, 2026Close101.000Apr 7, 2026Close100.750Apr 27, 2026Close100.813May 15, 2026Close99.938Jun 5, 2026Close99.750Jun 26, 2026Close100.063Jul 17, 2026Close99.781Aug 6, 2026Close99.563Aug 26, 2026Close99.656Sep 10, 2026Close98.813
The most recent 20 trading days of prices for 91282CKG5.
DateBidOfferClose
Sep 10, 202698.89198.87598.813
Sep 9, 202699.14199.12599.125
Sep 8, 202699.26699.25099.219
Sep 4, 202699.29799.28199.281
Sep 3, 202699.40699.40699.344
Sep 2, 202699.26699.25099.250
Sep 1, 202699.32899.31399.250
Aug 31, 202699.39199.37599.375
Aug 28, 202699.42299.40699.344
Aug 27, 202699.67299.65699.625
Aug 26, 202699.67299.65699.656
Aug 25, 202699.73499.71999.719
Aug 24, 202699.64199.62599.594
Aug 21, 202699.60999.59499.594
Aug 20, 202699.70399.68899.719
Aug 19, 202699.70399.68899.750
Aug 18, 202699.73499.71999.719
Aug 17, 202699.76699.75099.719
Aug 14, 202699.79799.78199.750
Aug 13, 202699.82899.81399.813

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 91282CKG5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 26, 2024Apr 1, 2024New issue$67.0bn$67.0bn2.41x4.235%

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.