Treasury note

91282CKW0 · 4.25% due June 30, 2031

Original term
7-Year
Maturity
Jun 30, 2031
Coupon
4.250%
Pays
Semi-Annual
Dated
Jun 30, 2024
First coupon
Dec 31, 2024
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$45.53bn
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
4.749%
Modified duration
4.252 yr
DV01
0.0420
Convexity
21.341
Dirty price
98.718

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 4.350 years against a modified duration of 4.252.

Against the fitted curve

Priced 0.4 bp cheap to the curve on that day, 1.83 cents per 100 of face.

That is 0.18 standard deviations from its own typical residual.

Yield to maturity, 550 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Jul 1, 2024Sep 10, 2026Jul 1, 2024Yield to maturity4.449%Jul 19, 2024Yield to maturity4.182%Aug 7, 2024Yield to maturity3.849%Aug 26, 2024Yield to maturity3.717%Sep 13, 2024Yield to maturity3.519%Oct 2, 2024Yield to maturity3.643%Oct 22, 2024Yield to maturity4.093%Nov 8, 2024Yield to maturity4.255%Nov 29, 2024Yield to maturity4.113%Dec 18, 2024Yield to maturity4.444%Jan 8, 2025Yield to maturity4.548%Jan 28, 2025Yield to maturity4.419%Feb 14, 2025Yield to maturity4.397%Mar 6, 2025Yield to maturity4.158%Mar 25, 2025Yield to maturity4.158%Apr 11, 2025Yield to maturity4.289%Apr 30, 2025Yield to maturity3.870%May 19, 2025Yield to maturity4.191%Jun 6, 2025Yield to maturity4.250%Jun 26, 2025Yield to maturity3.914%Jul 16, 2025Yield to maturity4.106%Aug 4, 2025Yield to maturity3.849%Aug 21, 2025Yield to maturity3.960%Sep 10, 2025Yield to maturity3.676%Sep 29, 2025Yield to maturity3.822%Oct 17, 2025Yield to maturity3.667%Nov 5, 2025Yield to maturity3.827%Nov 25, 2025Yield to maturity3.633%Dec 15, 2025Yield to maturity3.796%Jan 5, 2026Yield to maturity3.760%Jan 23, 2026Yield to maturity3.882%Feb 11, 2026Yield to maturity3.796%Mar 3, 2026Yield to maturity3.676%Mar 20, 2026Yield to maturity4.056%Apr 8, 2026Yield to maturity3.955%Apr 27, 2026Yield to maturity3.979%May 14, 2026Yield to maturity4.153%Jun 3, 2026Yield to maturity4.229%Jun 23, 2026Yield to maturity4.278%Jul 13, 2026Yield to maturity4.377%Jul 30, 2026Yield to maturity4.392%Aug 18, 2026Yield to maturity4.379%Sep 4, 2026Yield to maturity4.548%Sep 10, 2026Yield to maturity4.749%

Price history

550 trading days to Sep 10, 2026

9698100102104106Jul 1, 2024Sep 10, 2026Jul 1, 2024Close98.813Jul 19, 2024Close100.406Aug 7, 2024Close102.406Aug 26, 2024Close103.188Sep 13, 2024Close104.375Oct 2, 2024Close103.594Oct 22, 2024Close100.906Nov 8, 2024Close99.969Nov 29, 2024Close100.781Dec 18, 2024Close98.906Jan 8, 2025Close98.344Jan 28, 2025Close99.063Feb 14, 2025Close99.188Mar 6, 2025Close100.500Mar 25, 2025Close100.500Apr 11, 2025Close99.781Apr 30, 2025Close102.063May 19, 2025Close100.313Jun 6, 2025Close100.000Jun 26, 2025Close101.781Jul 16, 2025Close100.750Aug 4, 2025Close102.094Aug 21, 2025Close101.500Sep 10, 2025Close102.969Sep 29, 2025Close102.188Oct 17, 2025Close102.969Nov 5, 2025Close102.125Nov 25, 2025Close103.094Dec 15, 2025Close102.250Jan 5, 2026Close102.406Jan 23, 2026Close101.781Feb 11, 2026Close102.188Mar 3, 2026Close102.750Mar 20, 2026Close100.906Apr 8, 2026Close101.375Apr 27, 2026Close101.250May 14, 2026Close100.438Jun 3, 2026Close100.094Jun 23, 2026Close99.875Jul 13, 2026Close99.438Jul 30, 2026Close99.375Aug 18, 2026Close99.438Sep 4, 2026Close98.719Sep 10, 2026Close97.875
The most recent 20 trading days of prices for 91282CKW0.
DateBidOfferClose
Sep 10, 202698.01698.00097.875
Sep 9, 202698.45398.43898.438
Sep 8, 202698.67298.65698.625
Sep 4, 202698.76698.75098.719
Sep 3, 202698.95398.93898.844
Sep 2, 202698.70398.68898.688
Sep 1, 202698.81398.78198.688
Aug 31, 202698.92298.90698.906
Aug 28, 202699.09499.06398.938
Aug 27, 202699.45399.43899.344
Aug 26, 202699.45399.43899.406
Aug 25, 202699.51699.50099.531
Aug 24, 202699.35999.34499.281
Aug 21, 202699.20399.18899.219
Aug 20, 202699.39199.37599.406
Aug 19, 202699.51699.50099.563
Aug 18, 202699.45399.43899.438
Aug 17, 202699.48499.46999.438
Aug 14, 202699.57899.56399.500
Aug 13, 202699.67299.65699.688

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 91282CKW0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 27, 2024Jul 1, 2024New issue$44.0bn$45.5bn2.58x4.276%

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.