Treasury note

91282CLC3 · 4% due July 31, 2029

Original term
5-Year
Maturity
Jul 31, 2029
Coupon
4.000%
Pays
Semi-Annual
Dated
Jul 31, 2024
First coupon
Jan 31, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$73.59bn
Held stripped
$212.6m
Share stripped
0.29%

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
4.603%
Modified duration
2.520 yr
DV01
0.0251
Convexity
0.0782
Dirty price
99.577

Where its rate sensitivity sits

<.01
0.01
0.03
0.75
1.78
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 2.576 years against a modified duration of 2.520.

Against the fitted curve

Priced 1.7 bp rich to the curve on that day, 4.19 cents per 100 of face.

That is -0.88 standard deviations from its own typical residual.

Yield to maturity, 569 observations

3.0%3.5%4.0%4.5%5.0%5.5%Jul 31, 2024Nov 9, 2026Jul 31, 2024Yield to maturity3.965%Aug 5, 2024Yield to maturity3.620%Aug 8, 2024Yield to maturity3.833%Aug 13, 2024Yield to maturity3.680%Aug 16, 2024Yield to maturity3.769%Aug 21, 2024Yield to maturity3.644%Aug 26, 2024Yield to maturity3.664%Aug 29, 2024Yield to maturity3.691%Sep 4, 2024Yield to maturity3.579%Sep 9, 2024Yield to maturity3.502%Sep 12, 2024Yield to maturity3.480%Sep 17, 2024Yield to maturity3.451%Sep 20, 2024Yield to maturity3.491%Sep 25, 2024Yield to maturity3.532%Sep 30, 2024Yield to maturity3.587%Oct 3, 2024Yield to maturity3.629%Oct 8, 2024Yield to maturity3.870%Oct 11, 2024Yield to maturity3.884%Oct 17, 2024Yield to maturity3.905%Oct 22, 2024Yield to maturity4.006%Oct 25, 2024Yield to maturity4.072%Oct 30, 2024Yield to maturity4.145%Nov 4, 2024Yield to maturity4.175%Nov 7, 2024Yield to maturity4.183%Nov 13, 2024Yield to maturity4.310%Nov 18, 2024Yield to maturity4.288%Nov 21, 2024Yield to maturity4.311%Nov 26, 2024Yield to maturity4.199%Dec 2, 2024Yield to maturity4.103%Dec 5, 2024Yield to maturity4.088%Dec 10, 2024Yield to maturity4.104%Dec 13, 2024Yield to maturity4.262%Dec 18, 2024Yield to maturity4.407%Dec 23, 2024Yield to maturity4.446%Dec 27, 2024Yield to maturity4.456%Jan 2, 2025Yield to maturity4.372%Jan 7, 2025Yield to maturity4.450%Jan 10, 2025Yield to maturity4.584%Jan 15, 2025Yield to maturity4.445%Jan 21, 2025Yield to maturity4.392%Jan 24, 2025Yield to maturity4.424%Jan 29, 2025Yield to maturity4.347%Feb 3, 2025Yield to maturity4.348%Feb 6, 2025Yield to maturity4.271%Feb 11, 2025Yield to maturity4.365%Feb 14, 2025Yield to maturity4.327%Feb 20, 2025Yield to maturity4.335%Feb 25, 2025Yield to maturity4.124%Feb 28, 2025Yield to maturity4.030%Mar 5, 2025Yield to maturity4.070%Mar 10, 2025Yield to maturity3.968%Mar 13, 2025Yield to maturity4.015%Mar 18, 2025Yield to maturity4.070%Mar 21, 2025Yield to maturity3.991%Mar 26, 2025Yield to maturity4.070%Mar 31, 2025Yield to maturity3.936%Apr 3, 2025Yield to maturity3.731%Apr 8, 2025Yield to maturity3.848%Apr 11, 2025Yield to maturity4.127%Apr 16, 2025Yield to maturity3.871%Apr 22, 2025Yield to maturity3.935%Apr 25, 2025Yield to maturity3.846%Apr 30, 2025Yield to maturity3.679%May 5, 2025Yield to maturity3.902%May 8, 2025Yield to maturity3.966%May 13, 2025Yield to maturity4.096%May 16, 2025Yield to maturity4.031%May 21, 2025Yield to maturity4.105%May 27, 2025Yield to maturity3.999%May 30, 2025Yield to maturity3.941%Jun 4, 2025Yield to maturity3.900%Jun 9, 2025Yield to maturity4.057%Jun 12, 2025Yield to maturity3.933%Jun 17, 2025Yield to maturity3.958%Jun 23, 2025Yield to maturity3.858%Jun 26, 2025Yield to maturity3.750%Jul 1, 2025Yield to maturity3.799%Jul 7, 2025Yield to maturity3.915%Jul 10, 2025Yield to maturity3.890%Jul 15, 2025Yield to maturity4.000%Jul 18, 2025Yield to maturity3.907%Jul 23, 2025Yield to maturity3.890%Jul 28, 2025Yield to maturity3.923%Jul 31, 2025Yield to maturity3.923%Aug 5, 2025Yield to maturity3.727%Aug 8, 2025Yield to maturity3.786%Aug 13, 2025Yield to maturity3.717%Aug 18, 2025Yield to maturity3.802%Aug 21, 2025Yield to maturity3.801%Aug 26, 2025Yield to maturity3.680%Aug 29, 2025Yield to maturity3.636%Sep 4, 2025Yield to maturity3.592%Sep 9, 2025Yield to maturity3.557%Sep 12, 2025Yield to maturity3.590%Sep 17, 2025Yield to maturity3.572%Sep 22, 2025Yield to maturity3.648%Sep 25, 2025Yield to maturity3.717%Sep 30, 2025Yield to maturity3.681%Oct 3, 2025Yield to maturity3.654%Oct 8, 2025Yield to maturity3.662%Oct 14, 2025Yield to maturity3.537%Oct 17, 2025Yield to maturity3.527%Oct 22, 2025Yield to maturity3.499%Oct 27, 2025Yield to maturity3.560%Oct 30, 2025Yield to maturity3.666%Nov 4, 2025Yield to maturity3.638%Nov 7, 2025Yield to maturity3.619%Nov 13, 2025Yield to maturity3.645%Nov 18, 2025Yield to maturity3.634%Nov 21, 2025Yield to maturity3.552%Nov 26, 2025Yield to maturity3.514%Dec 2, 2025Yield to maturity3.576%Dec 5, 2025Yield to maturity3.639%Dec 10, 2025Yield to maturity3.638%Dec 15, 2025Yield to maturity3.628%Dec 18, 2025Yield to maturity3.563%Dec 23, 2025Yield to maturity3.635%Dec 29, 2025Yield to maturity3.569%Jan 2, 2026Yield to maturity3.614%Jan 7, 2026Yield to maturity3.585%Jan 12, 2026Yield to maturity3.649%Jan 15, 2026Yield to maturity3.667%Jan 21, 2026Yield to maturity3.713%Jan 26, 2026Yield to maturity3.703%Jan 29, 2026Yield to maturity3.674%Feb 3, 2026Yield to maturity3.701%Feb 6, 2026Yield to maturity3.623%Feb 11, 2026Yield to maturity3.622%Feb 17, 2026Yield to maturity3.515%Feb 20, 2026Yield to maturity3.542%Feb 25, 2026Yield to maturity3.521%Mar 2, 2026Yield to maturity3.519%Mar 5, 2026Yield to maturity3.625%Mar 10, 2026Yield to maturity3.634%Mar 13, 2026Yield to maturity3.780%Mar 18, 2026Yield to maturity3.790%Mar 23, 2026Yield to maturity3.879%Mar 26, 2026Yield to maturity4.029%Mar 31, 2026Yield to maturity3.837%Apr 3, 2026Yield to maturity3.907%Apr 8, 2026Yield to maturity3.836%Apr 13, 2026Yield to maturity3.826%Apr 16, 2026Yield to maturity3.815%Apr 21, 2026Yield to maturity3.814%Apr 24, 2026Yield to maturity3.824%Apr 29, 2026Yield to maturity3.967%May 4, 2026Yield to maturity3.998%May 7, 2026Yield to maturity3.957%May 12, 2026Yield to maturity4.040%May 15, 2026Yield to maturity4.167%May 20, 2026Yield to maturity4.135%May 26, 2026Yield to maturity4.115%May 29, 2026Yield to maturity4.073%Jun 3, 2026Yield to maturity4.158%Jun 8, 2026Yield to maturity4.224%Jun 11, 2026Yield to maturity4.117%Jun 16, 2026Yield to maturity4.096%Jun 22, 2026Yield to maturity4.259%Jun 25, 2026Yield to maturity4.129%Jun 30, 2026Yield to maturity4.152%Jul 6, 2026Yield to maturity4.153%Jul 9, 2026Yield to maturity4.208%Jul 14, 2026Yield to maturity4.243%Jul 17, 2026Yield to maturity4.221%Jul 22, 2026Yield to maturity4.356%Jul 27, 2026Yield to maturity4.369%Jul 30, 2026Yield to maturity4.303%Aug 4, 2026Yield to maturity4.259%Aug 7, 2026Yield to maturity4.260%Aug 12, 2026Yield to maturity4.272%Aug 17, 2026Yield to maturity4.261%Aug 20, 2026Yield to maturity4.273%Aug 25, 2026Yield to maturity4.263%Aug 28, 2026Yield to maturity4.414%Sep 2, 2026Yield to maturity4.462%Sep 8, 2026Yield to maturity4.476%Sep 11, 2026Yield to maturity4.715%Sep 16, 2026Yield to maturity4.812%Sep 21, 2026Yield to maturity4.815%Sep 24, 2026Yield to maturity4.998%Sep 29, 2026Yield to maturity4.991%Oct 2, 2026Yield to maturity4.959%Oct 7, 2026Yield to maturity4.900%Oct 13, 2026Yield to maturity4.905%Oct 16, 2026Yield to maturity4.811%Oct 21, 2026Yield to maturity4.887%Oct 26, 2026Yield to maturity4.780%Oct 29, 2026Yield to maturity4.720%Nov 3, 2026Yield to maturity4.674%Nov 6, 2026Yield to maturity4.577%Nov 9, 2026Yield to maturity4.603%

Price history

569 trading days to Nov 9, 2026

979899100101102103Jul 31, 2024Nov 9, 2026Jul 31, 2024Close100.156Aug 5, 2024Close101.719Aug 8, 2024Close100.750Aug 13, 2024Close101.438Aug 16, 2024Close101.031Aug 21, 2024Close101.594Aug 26, 2024Close101.500Aug 29, 2024Close101.375Sep 4, 2024Close101.875Sep 9, 2024Close102.219Sep 12, 2024Close102.313Sep 17, 2024Close102.438Sep 20, 2024Close102.250Sep 25, 2024Close102.063Sep 30, 2024Close101.813Oct 3, 2024Close101.625Oct 8, 2024Close100.563Oct 11, 2024Close100.500Oct 17, 2024Close100.406Oct 22, 2024Close99.969Oct 25, 2024Close99.688Oct 30, 2024Close99.375Nov 4, 2024Close99.250Nov 7, 2024Close99.219Nov 13, 2024Close98.688Nov 18, 2024Close98.781Nov 21, 2024Close98.688Nov 26, 2024Close99.156Dec 2, 2024Close99.563Dec 5, 2024Close99.625Dec 10, 2024Close99.563Dec 13, 2024Close98.906Dec 18, 2024Close98.313Dec 23, 2024Close98.156Dec 27, 2024Close98.125Jan 2, 2025Close98.469Jan 7, 2025Close98.156Jan 10, 2025Close97.625Jan 15, 2025Close98.188Jan 21, 2025Close98.406Jan 24, 2025Close98.281Jan 29, 2025Close98.594Feb 3, 2025Close98.594Feb 6, 2025Close98.906Feb 11, 2025Close98.531Feb 14, 2025Close98.688Feb 20, 2025Close98.656Feb 25, 2025Close99.500Feb 28, 2025Close99.875Mar 5, 2025Close99.719Mar 10, 2025Close100.125Mar 13, 2025Close99.938Mar 18, 2025Close99.719Mar 21, 2025Close100.031Mar 26, 2025Close99.719Mar 31, 2025Close100.250Apr 3, 2025Close101.063Apr 8, 2025Close100.594Apr 11, 2025Close99.500Apr 16, 2025Close100.500Apr 22, 2025Close100.250Apr 25, 2025Close100.594Apr 30, 2025Close101.250May 5, 2025Close100.375May 8, 2025Close100.125May 13, 2025Close99.625May 16, 2025Close99.875May 21, 2025Close99.594May 27, 2025Close100.000May 30, 2025Close100.219Jun 4, 2025Close100.375Jun 9, 2025Close99.781Jun 12, 2025Close100.250Jun 17, 2025Close100.156Jun 23, 2025Close100.531Jun 26, 2025Close100.938Jul 1, 2025Close100.750Jul 7, 2025Close100.313Jul 10, 2025Close100.406Jul 15, 2025Close100.000Jul 18, 2025Close100.344Jul 23, 2025Close100.406Jul 28, 2025Close100.281Jul 31, 2025Close100.281Aug 5, 2025Close101.000Aug 8, 2025Close100.781Aug 13, 2025Close101.031Aug 18, 2025Close100.719Aug 21, 2025Close100.719Aug 26, 2025Close101.156Aug 29, 2025Close101.313Sep 4, 2025Close101.469Sep 9, 2025Close101.594Sep 12, 2025Close101.469Sep 17, 2025Close101.531Sep 22, 2025Close101.250Sep 25, 2025Close101.000Sep 30, 2025Close101.125Oct 3, 2025Close101.219Oct 8, 2025Close101.188Oct 14, 2025Close101.625Oct 17, 2025Close101.656Oct 22, 2025Close101.750Oct 27, 2025Close101.531Oct 30, 2025Close101.156Nov 4, 2025Close101.250Nov 7, 2025Close101.313Nov 13, 2025Close101.219Nov 18, 2025Close101.250Nov 21, 2025Close101.531Nov 26, 2025Close101.656Dec 2, 2025Close101.438Dec 5, 2025Close101.219Dec 10, 2025Close101.219Dec 15, 2025Close101.250Dec 18, 2025Close101.469Dec 23, 2025Close101.219Dec 29, 2025Close101.438Jan 2, 2026Close101.281Jan 7, 2026Close101.375Jan 12, 2026Close101.156Jan 15, 2026Close101.094Jan 21, 2026Close100.938Jan 26, 2026Close100.969Jan 29, 2026Close101.063Feb 3, 2026Close100.969Feb 6, 2026Close101.219Feb 11, 2026Close101.219Feb 17, 2026Close101.563Feb 20, 2026Close101.469Feb 25, 2026Close101.531Mar 2, 2026Close101.531Mar 5, 2026Close101.188Mar 10, 2026Close101.156Mar 13, 2026Close100.688Mar 18, 2026Close100.656Mar 23, 2026Close100.375Mar 26, 2026Close99.906Mar 31, 2026Close100.500Apr 3, 2026Close100.281Apr 8, 2026Close100.500Apr 13, 2026Close100.531Apr 16, 2026Close100.563Apr 21, 2026Close100.563Apr 24, 2026Close100.531Apr 29, 2026Close100.094May 4, 2026Close100.000May 7, 2026Close100.125May 12, 2026Close99.875May 15, 2026Close99.500May 20, 2026Close99.594May 26, 2026Close99.656May 29, 2026Close99.781Jun 3, 2026Close99.531Jun 8, 2026Close99.344Jun 11, 2026Close99.656Jun 16, 2026Close99.719Jun 22, 2026Close99.250Jun 25, 2026Close99.625Jun 30, 2026Close99.563Jul 6, 2026Close99.563Jul 9, 2026Close99.406Jul 14, 2026Close99.313Jul 17, 2026Close99.375Jul 22, 2026Close99.000Jul 27, 2026Close98.969Jul 30, 2026Close99.156Aug 4, 2026Close99.281Aug 7, 2026Close99.281Aug 12, 2026Close99.250Aug 17, 2026Close99.281Aug 20, 2026Close99.250Aug 25, 2026Close99.281Aug 28, 2026Close98.875Sep 2, 2026Close98.750Sep 8, 2026Close98.719Sep 11, 2026Close98.094Sep 16, 2026Close97.844Sep 21, 2026Close97.844Sep 24, 2026Close97.375Sep 29, 2026Close97.406Oct 2, 2026Close97.500Oct 7, 2026Close97.656Oct 13, 2026Close97.656Oct 16, 2026Close97.906Oct 21, 2026Close97.719Oct 26, 2026Close98.000Oct 29, 2026Close98.156Nov 3, 2026Close98.281Nov 6, 2026Close98.531Nov 9, 2026Close98.469
The most recent 20 trading days of prices for 91282CLC3.
DateBidOfferClose
Nov 9, 202698.43898.45398.469
Nov 6, 202698.50098.53198.531
Nov 5, 202698.53198.54798.656
Nov 4, 202698.34498.35998.375
Nov 3, 202698.28198.31398.281
Nov 2, 202698.37598.39198.344
Oct 30, 202698.25098.26698.344
Oct 29, 202698.15698.17298.156
Oct 28, 202697.84497.87597.969
Oct 27, 202697.96997.98497.938
Oct 26, 202698.00098.01698.000
Oct 23, 202698.06398.07898.063
Oct 22, 202698.00098.01698.125
Oct 21, 202697.78197.79797.719
Oct 20, 202697.81397.82897.781
Oct 19, 202697.81397.82897.813
Oct 16, 202697.90697.92297.906
Oct 15, 202697.78197.81397.813
Oct 14, 202697.50097.51697.625
Oct 13, 202697.62597.64197.656

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 91282CLC3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 24, 2024Jul 31, 2024New issue$70.0bn$73.9bn2.40x4.121%

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.