Treasury note

91282CKT7 · 4.5% due May 31, 2029

Original term
5-Year
Maturity
May 31, 2029
Coupon
4.500%
Pays
Semi-Annual
Dated
May 31, 2024
First coupon
Nov 30, 2024
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$72.97bn
Held stripped
$120.0m
Share stripped
0.16%

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
4.646%
Modified duration
2.500 yr
DV01
0.0252
Convexity
7.730
Dirty price
100.891

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 2.557 years against a modified duration of 2.500.

Against the fitted curve

Priced 1.1 bp rich to the curve on that day, 2.68 cents per 100 of face.

That is -0.68 standard deviations from its own typical residual.

Yield to maturity, 570 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%May 31, 2024Sep 10, 2026May 31, 2024Yield to maturity4.521%Jun 20, 2024Yield to maturity4.266%Jul 10, 2024Yield to maturity4.235%Jul 29, 2024Yield to maturity4.061%Aug 15, 2024Yield to maturity3.786%Sep 4, 2024Yield to maturity3.573%Sep 23, 2024Yield to maturity3.507%Oct 10, 2024Yield to maturity3.912%Oct 30, 2024Yield to maturity4.136%Nov 19, 2024Yield to maturity4.255%Dec 9, 2024Yield to maturity4.083%Dec 27, 2024Yield to maturity4.452%Jan 16, 2025Yield to maturity4.380%Feb 5, 2025Yield to maturity4.242%Feb 25, 2025Yield to maturity4.119%Mar 14, 2025Yield to maturity4.074%Apr 2, 2025Yield to maturity3.932%Apr 21, 2025Yield to maturity3.901%May 8, 2025Yield to maturity3.961%May 28, 2025Yield to maturity4.031%Jun 16, 2025Yield to maturity3.999%Jul 7, 2025Yield to maturity3.914%Jul 24, 2025Yield to maturity3.925%Aug 12, 2025Yield to maturity3.768%Aug 29, 2025Yield to maturity3.625%Sep 18, 2025Yield to maturity3.606%Oct 7, 2025Yield to maturity3.640%Oct 27, 2025Yield to maturity3.546%Nov 14, 2025Yield to maturity3.663%Dec 4, 2025Yield to maturity3.586%Dec 23, 2025Yield to maturity3.621%Jan 13, 2026Yield to maturity3.616%Feb 2, 2026Yield to maturity3.682%Feb 20, 2026Yield to maturity3.528%Mar 11, 2026Yield to maturity3.678%Mar 30, 2026Yield to maturity3.874%Apr 16, 2026Yield to maturity3.813%May 5, 2026Yield to maturity3.975%May 22, 2026Yield to maturity4.199%Jun 11, 2026Yield to maturity4.115%Jul 1, 2026Yield to maturity4.199%Jul 21, 2026Yield to maturity4.299%Aug 7, 2026Yield to maturity4.259%Aug 26, 2026Yield to maturity4.279%Sep 10, 2026Yield to maturity4.646%

Price history

570 trading days to Sep 10, 2026

99100101102103104105May 31, 2024Sep 10, 2026May 31, 2024Close99.906Jun 20, 2024Close101.031Jul 10, 2024Close101.156Jul 29, 2024Close101.906Aug 15, 2024Close103.094Sep 4, 2024Close104.000Sep 23, 2024Close104.250Oct 10, 2024Close102.469Oct 30, 2024Close101.500Nov 19, 2024Close101.000Dec 9, 2024Close101.688Dec 27, 2024Close100.188Jan 16, 2025Close100.469Feb 5, 2025Close101.000Feb 25, 2025Close101.469Mar 14, 2025Close101.625Apr 2, 2025Close102.156Apr 21, 2025Close102.250May 8, 2025Close102.000May 28, 2025Close101.719Jun 16, 2025Close101.813Jul 7, 2025Close102.094Jul 24, 2025Close102.031Aug 12, 2025Close102.563Aug 29, 2025Close103.031Sep 18, 2025Close103.063Oct 7, 2025Close102.906Oct 27, 2025Close103.188Nov 14, 2025Close102.750Dec 4, 2025Close102.969Dec 23, 2025Close102.813Jan 13, 2026Close102.781Feb 2, 2026Close102.531Feb 20, 2026Close102.969Mar 11, 2026Close102.469Mar 30, 2026Close101.844Apr 16, 2026Close102.000May 5, 2026Close101.500May 22, 2026Close100.844Jun 11, 2026Close101.063Jul 1, 2026Close100.813Jul 21, 2026Close100.531Aug 7, 2026Close100.625Aug 26, 2026Close100.563Sep 10, 2026Close99.625
The most recent 20 trading days of prices for 91282CKT7.
DateBidOfferClose
Sep 10, 202699.73499.71999.625
Sep 9, 2026100.016100.000100.000
Sep 8, 2026100.109100.094100.094
Sep 4, 2026100.172100.156100.125
Sep 3, 2026100.297100.281100.219
Sep 2, 2026100.141100.125100.125
Sep 1, 2026100.203100.188100.125
Aug 31, 2026100.266100.250100.250
Aug 28, 2026100.328100.313100.250
Aug 27, 2026100.578100.563100.531
Aug 26, 2026100.578100.563100.563
Aug 25, 2026100.641100.625100.625
Aug 24, 2026100.547100.531100.500
Aug 21, 2026100.484100.469100.500
Aug 20, 2026100.609100.594100.625
Aug 19, 2026100.641100.625100.656
Aug 18, 2026100.672100.656100.625
Aug 17, 2026100.672100.656100.625
Aug 14, 2026100.734100.719100.656
Aug 13, 2026100.766100.750100.750

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 91282CKT7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 28, 2024May 31, 2024New issue$70.0bn$74.2bn2.30x4.553%

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.