Treasury note

91282CKZ3 · 4.375% due July 15, 2027

Original term
3-Year
Maturity
Jul 15, 2027
Coupon
4.375%
Pays
Semi-Annual
Dated
Jul 15, 2024
First coupon
Jan 15, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$60.78bn
Held stripped
$43.8m
Share stripped
0.07%

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
4.320%
Modified duration
0.655 yr
DV01
0.0066
Convexity
0.00754
Dirty price
101.434

Where its rate sensitivity sits

<.01
0.43
0.23
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 3 of twelve buckets, summing to 0.666 years against a modified duration of 0.655.

Against the fitted curve

Priced 1.8 bp rich to the curve on that day, 1.21 cents per 100 of face.

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

Yield to maturity, 581 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%Jul 15, 2024Nov 9, 2026Jul 15, 2024Yield to maturity4.229%Jul 18, 2024Yield to maturity4.240%Jul 23, 2024Yield to maturity4.262%Jul 26, 2024Yield to maturity4.204%Jul 31, 2024Yield to maturity4.102%Aug 5, 2024Yield to maturity3.718%Aug 8, 2024Yield to maturity3.896%Aug 13, 2024Yield to maturity3.769%Aug 16, 2024Yield to maturity3.880%Aug 21, 2024Yield to maturity3.742%Aug 26, 2024Yield to maturity3.751%Aug 29, 2024Yield to maturity3.772%Sep 4, 2024Yield to maturity3.642%Sep 9, 2024Yield to maturity3.547%Sep 12, 2024Yield to maturity3.510%Sep 17, 2024Yield to maturity3.483%Sep 20, 2024Yield to maturity3.479%Sep 25, 2024Yield to maturity3.511%Sep 30, 2024Yield to maturity3.589%Oct 3, 2024Yield to maturity3.646%Oct 8, 2024Yield to maturity3.904%Oct 11, 2024Yield to maturity3.877%Oct 17, 2024Yield to maturity3.900%Oct 22, 2024Yield to maturity3.995%Oct 25, 2024Yield to maturity4.066%Oct 30, 2024Yield to maturity4.139%Nov 4, 2024Yield to maturity4.150%Nov 7, 2024Yield to maturity4.174%Nov 13, 2024Yield to maturity4.260%Nov 18, 2024Yield to maturity4.260%Nov 21, 2024Yield to maturity4.310%Nov 26, 2024Yield to maturity4.234%Dec 2, 2024Yield to maturity4.144%Dec 5, 2024Yield to maturity4.118%Dec 10, 2024Yield to maturity4.117%Dec 13, 2024Yield to maturity4.232%Dec 18, 2024Yield to maturity4.361%Dec 23, 2024Yield to maturity4.361%Dec 27, 2024Yield to maturity4.361%Jan 2, 2025Yield to maturity4.269%Jan 7, 2025Yield to maturity4.322%Jan 10, 2025Yield to maturity4.441%Jan 15, 2025Yield to maturity4.308%Jan 21, 2025Yield to maturity4.308%Jan 24, 2025Yield to maturity4.307%Jan 29, 2025Yield to maturity4.253%Feb 3, 2025Yield to maturity4.279%Feb 6, 2025Yield to maturity4.224%Feb 11, 2025Yield to maturity4.305%Feb 14, 2025Yield to maturity4.277%Feb 20, 2025Yield to maturity4.276%Feb 25, 2025Yield to maturity4.095%Feb 28, 2025Yield to maturity3.996%Mar 5, 2025Yield to maturity4.009%Mar 10, 2025Yield to maturity3.909%Mar 13, 2025Yield to maturity3.935%Mar 18, 2025Yield to maturity4.032%Mar 21, 2025Yield to maturity3.930%Mar 26, 2025Yield to maturity4.014%Mar 31, 2025Yield to maturity3.898%Apr 3, 2025Yield to maturity3.710%Apr 8, 2025Yield to maturity3.720%Apr 11, 2025Yield to maturity3.977%Apr 16, 2025Yield to maturity3.787%Apr 22, 2025Yield to maturity3.812%Apr 25, 2025Yield to maturity3.779%Apr 30, 2025Yield to maturity3.600%May 5, 2025Yield to maturity3.848%May 8, 2025Yield to maturity3.891%May 13, 2025Yield to maturity4.024%May 16, 2025Yield to maturity3.976%May 21, 2025Yield to maturity4.005%May 27, 2025Yield to maturity3.972%May 30, 2025Yield to maturity3.908%Jun 4, 2025Yield to maturity3.875%Jun 9, 2025Yield to maturity4.012%Jun 12, 2025Yield to maturity3.902%Jun 17, 2025Yield to maturity3.946%Jun 23, 2025Yield to maturity3.848%Jun 26, 2025Yield to maturity3.735%Jul 1, 2025Yield to maturity3.795%Jul 7, 2025Yield to maturity3.920%Jul 10, 2025Yield to maturity3.886%Jul 15, 2025Yield to maturity3.964%Jul 18, 2025Yield to maturity3.879%Jul 23, 2025Yield to maturity3.893%Jul 28, 2025Yield to maturity3.923%Jul 31, 2025Yield to maturity3.955%Aug 5, 2025Yield to maturity3.734%Aug 8, 2025Yield to maturity3.763%Aug 13, 2025Yield to maturity3.693%Aug 18, 2025Yield to maturity3.773%Aug 21, 2025Yield to maturity3.804%Aug 26, 2025Yield to maturity3.680%Aug 29, 2025Yield to maturity3.657%Sep 4, 2025Yield to maturity3.619%Sep 9, 2025Yield to maturity3.578%Sep 12, 2025Yield to maturity3.573%Sep 17, 2025Yield to maturity3.551%Sep 22, 2025Yield to maturity3.617%Sep 25, 2025Yield to maturity3.685%Sep 30, 2025Yield to maturity3.626%Oct 3, 2025Yield to maturity3.602%Oct 8, 2025Yield to maturity3.599%Oct 14, 2025Yield to maturity3.500%Oct 17, 2025Yield to maturity3.493%Oct 22, 2025Yield to maturity3.470%Oct 27, 2025Yield to maturity3.520%Oct 30, 2025Yield to maturity3.629%Nov 4, 2025Yield to maturity3.604%Nov 7, 2025Yield to maturity3.579%Nov 13, 2025Yield to maturity3.613%Nov 18, 2025Yield to maturity3.607%Nov 21, 2025Yield to maturity3.542%Nov 26, 2025Yield to maturity3.517%Dec 2, 2025Yield to maturity3.550%Dec 5, 2025Yield to maturity3.584%Dec 10, 2025Yield to maturity3.560%Dec 15, 2025Yield to maturity3.513%Dec 18, 2025Yield to maturity3.468%Dec 23, 2025Yield to maturity3.543%Dec 29, 2025Yield to maturity3.472%Jan 2, 2026Yield to maturity3.484%Jan 7, 2026Yield to maturity3.480%Jan 12, 2026Yield to maturity3.536%Jan 15, 2026Yield to maturity3.575%Jan 21, 2026Yield to maturity3.588%Jan 26, 2026Yield to maturity3.580%Jan 29, 2026Yield to maturity3.553%Feb 3, 2026Yield to maturity3.568%Feb 6, 2026Yield to maturity3.493%Feb 11, 2026Yield to maturity3.510%Feb 17, 2026Yield to maturity3.477%Feb 20, 2026Yield to maturity3.514%Feb 25, 2026Yield to maturity3.509%Mar 2, 2026Yield to maturity3.524%Mar 5, 2026Yield to maturity3.613%Mar 10, 2026Yield to maturity3.605%Mar 13, 2026Yield to maturity3.742%Mar 18, 2026Yield to maturity3.786%Mar 23, 2026Yield to maturity3.878%Mar 26, 2026Yield to maturity3.998%Mar 31, 2026Yield to maturity3.820%Apr 3, 2026Yield to maturity3.864%Apr 8, 2026Yield to maturity3.810%Apr 13, 2026Yield to maturity3.804%Apr 16, 2026Yield to maturity3.775%Apr 21, 2026Yield to maturity3.768%Apr 24, 2026Yield to maturity3.762%Apr 29, 2026Yield to maturity3.864%May 4, 2026Yield to maturity3.885%May 7, 2026Yield to maturity3.855%May 12, 2026Yield to maturity3.903%May 15, 2026Yield to maturity3.954%May 20, 2026Yield to maturity3.923%May 26, 2026Yield to maturity3.945%May 29, 2026Yield to maturity3.911%Jun 3, 2026Yield to maturity3.966%Jun 8, 2026Yield to maturity4.049%Jun 11, 2026Yield to maturity3.958%Jun 16, 2026Yield to maturity3.954%Jun 22, 2026Yield to maturity4.160%Jun 25, 2026Yield to maturity4.067%Jun 30, 2026Yield to maturity4.125%Jul 6, 2026Yield to maturity4.090%Jul 9, 2026Yield to maturity4.088%Jul 14, 2026Yield to maturity4.117%Jul 17, 2026Yield to maturity4.113%Jul 22, 2026Yield to maturity4.209%Jul 27, 2026Yield to maturity4.206%Jul 30, 2026Yield to maturity4.137%Aug 4, 2026Yield to maturity4.100%Aug 7, 2026Yield to maturity4.095%Aug 12, 2026Yield to maturity4.058%Aug 17, 2026Yield to maturity4.053%Aug 20, 2026Yield to maturity4.049%Aug 25, 2026Yield to maturity4.080%Aug 28, 2026Yield to maturity4.186%Sep 2, 2026Yield to maturity4.184%Sep 8, 2026Yield to maturity4.180%Sep 11, 2026Yield to maturity4.330%Sep 16, 2026Yield to maturity4.446%Sep 21, 2026Yield to maturity4.447%Sep 24, 2026Yield to maturity4.528%Sep 29, 2026Yield to maturity4.530%Oct 2, 2026Yield to maturity4.450%Oct 7, 2026Yield to maturity4.409%Oct 13, 2026Yield to maturity4.452%Oct 16, 2026Yield to maturity4.454%Oct 21, 2026Yield to maturity4.454%Oct 26, 2026Yield to maturity4.411%Oct 29, 2026Yield to maturity4.367%Nov 3, 2026Yield to maturity4.367%Nov 6, 2026Yield to maturity4.320%Nov 9, 2026Yield to maturity4.320%

Price history

581 trading days to Nov 9, 2026

99.5100.0100.5101.0101.5102.0102.5Jul 15, 2024Nov 9, 2026Jul 15, 2024Close100.406Jul 18, 2024Close100.375Jul 23, 2024Close100.313Jul 26, 2024Close100.469Jul 31, 2024Close100.750Aug 5, 2024Close101.813Aug 8, 2024Close101.313Aug 13, 2024Close101.656Aug 16, 2024Close101.344Aug 21, 2024Close101.719Aug 26, 2024Close101.688Aug 29, 2024Close101.625Sep 4, 2024Close101.969Sep 9, 2024Close102.219Sep 12, 2024Close102.313Sep 17, 2024Close102.375Sep 20, 2024Close102.375Sep 25, 2024Close102.281Sep 30, 2024Close102.063Oct 3, 2024Close101.906Oct 8, 2024Close101.219Oct 11, 2024Close101.281Oct 17, 2024Close101.219Oct 22, 2024Close100.969Oct 25, 2024Close100.781Oct 30, 2024Close100.594Nov 4, 2024Close100.563Nov 7, 2024Close100.500Nov 13, 2024Close100.281Nov 18, 2024Close100.281Nov 21, 2024Close100.156Nov 26, 2024Close100.344Dec 2, 2024Close100.563Dec 5, 2024Close100.625Dec 10, 2024Close100.625Dec 13, 2024Close100.344Dec 18, 2024Close100.031Dec 23, 2024Close100.031Dec 27, 2024Close100.031Jan 2, 2025Close100.250Jan 7, 2025Close100.125Jan 10, 2025Close99.844Jan 15, 2025Close100.156Jan 21, 2025Close100.156Jan 24, 2025Close100.156Jan 29, 2025Close100.281Feb 3, 2025Close100.219Feb 6, 2025Close100.344Feb 11, 2025Close100.156Feb 14, 2025Close100.219Feb 20, 2025Close100.219Feb 25, 2025Close100.625Feb 28, 2025Close100.844Mar 5, 2025Close100.813Mar 10, 2025Close101.031Mar 13, 2025Close100.969Mar 18, 2025Close100.750Mar 21, 2025Close100.969Mar 26, 2025Close100.781Mar 31, 2025Close101.031Apr 3, 2025Close101.438Apr 8, 2025Close101.406Apr 11, 2025Close100.844Apr 16, 2025Close101.250Apr 22, 2025Close101.188Apr 25, 2025Close101.250Apr 30, 2025Close101.625May 5, 2025Close101.094May 8, 2025Close101.000May 13, 2025Close100.719May 16, 2025Close100.813May 21, 2025Close100.750May 27, 2025Close100.813May 30, 2025Close100.938Jun 4, 2025Close101.000Jun 9, 2025Close100.719Jun 12, 2025Close100.938Jun 17, 2025Close100.844Jun 23, 2025Close101.031Jun 26, 2025Close101.250Jul 1, 2025Close101.125Jul 7, 2025Close100.875Jul 10, 2025Close100.938Jul 15, 2025Close100.781Jul 18, 2025Close100.938Jul 23, 2025Close100.906Jul 28, 2025Close100.844Jul 31, 2025Close100.781Aug 5, 2025Close101.188Aug 8, 2025Close101.125Aug 13, 2025Close101.250Aug 18, 2025Close101.094Aug 21, 2025Close101.031Aug 26, 2025Close101.250Aug 29, 2025Close101.281Sep 4, 2025Close101.344Sep 9, 2025Close101.406Sep 12, 2025Close101.406Sep 17, 2025Close101.438Sep 22, 2025Close101.313Sep 25, 2025Close101.188Sep 30, 2025Close101.281Oct 3, 2025Close101.313Oct 8, 2025Close101.313Oct 14, 2025Close101.469Oct 17, 2025Close101.469Oct 22, 2025Close101.500Oct 27, 2025Close101.406Oct 30, 2025Close101.219Nov 4, 2025Close101.250Nov 7, 2025Close101.281Nov 13, 2025Close101.219Nov 18, 2025Close101.219Nov 21, 2025Close101.313Nov 26, 2025Close101.344Dec 2, 2025Close101.281Dec 5, 2025Close101.219Dec 10, 2025Close101.250Dec 15, 2025Close101.313Dec 18, 2025Close101.375Dec 23, 2025Close101.250Dec 29, 2025Close101.344Jan 2, 2026Close101.313Jan 7, 2026Close101.313Jan 12, 2026Close101.219Jan 15, 2026Close101.156Jan 21, 2026Close101.125Jan 26, 2026Close101.125Jan 29, 2026Close101.156Feb 3, 2026Close101.125Feb 6, 2026Close101.219Feb 11, 2026Close101.188Feb 17, 2026Close101.219Feb 20, 2026Close101.156Feb 25, 2026Close101.156Mar 2, 2026Close101.125Mar 5, 2026Close101.000Mar 10, 2026Close101.000Mar 13, 2026Close100.813Mar 18, 2026Close100.750Mar 23, 2026Close100.625Mar 26, 2026Close100.469Mar 31, 2026Close100.688Apr 3, 2026Close100.625Apr 8, 2026Close100.688Apr 13, 2026Close100.688Apr 16, 2026Close100.719Apr 21, 2026Close100.719Apr 24, 2026Close100.719Apr 29, 2026Close100.594May 4, 2026Close100.563May 7, 2026Close100.594May 12, 2026Close100.531May 15, 2026Close100.469May 20, 2026Close100.500May 26, 2026Close100.469May 29, 2026Close100.500Jun 3, 2026Close100.438Jun 8, 2026Close100.344Jun 11, 2026Close100.438Jun 16, 2026Close100.438Jun 22, 2026Close100.219Jun 25, 2026Close100.313Jun 30, 2026Close100.250Jul 6, 2026Close100.281Jul 9, 2026Close100.281Jul 14, 2026Close100.250Jul 17, 2026Close100.250Jul 22, 2026Close100.156Jul 27, 2026Close100.156Jul 30, 2026Close100.219Aug 4, 2026Close100.250Aug 7, 2026Close100.250Aug 12, 2026Close100.281Aug 17, 2026Close100.281Aug 20, 2026Close100.281Aug 25, 2026Close100.250Aug 28, 2026Close100.156Sep 2, 2026Close100.156Sep 8, 2026Close100.156Sep 11, 2026Close100.031Sep 16, 2026Close99.938Sep 21, 2026Close99.938Sep 24, 2026Close99.875Sep 29, 2026Close99.875Oct 2, 2026Close99.938Oct 7, 2026Close99.969Oct 13, 2026Close99.938Oct 16, 2026Close99.938Oct 21, 2026Close99.938Oct 26, 2026Close99.969Oct 29, 2026Close100.000Nov 3, 2026Close100.000Nov 6, 2026Close100.031Nov 9, 2026Close100.031
The most recent 20 trading days of prices for 91282CKZ3.
DateBidOfferClose
Nov 9, 2026100.000100.031100.031
Nov 6, 2026100.031100.047100.031
Nov 5, 2026100.031100.047100.063
Nov 4, 2026100.000100.016100.000
Nov 3, 2026100.000100.016100.000
Nov 2, 2026100.000100.016100.000
Oct 30, 2026100.000100.016100.031
Oct 29, 2026100.000100.016100.000
Oct 28, 202699.96999.98499.969
Oct 27, 202699.96999.98499.969
Oct 26, 202699.96999.98499.969
Oct 23, 202699.96999.98499.969
Oct 22, 202699.96999.98499.969
Oct 21, 202699.93899.95399.938
Oct 20, 202699.93899.95399.938
Oct 19, 202699.93899.95399.938
Oct 16, 202699.93899.96999.938
Oct 15, 202699.93899.95399.938
Oct 14, 202699.87599.89199.906
Oct 13, 202699.93899.95399.938

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 91282CKZ3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 9, 2024Jul 15, 2024New issue$58.0bn$67.4bn2.67x4.399%

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.