Treasury note

91282CLF6 · 3.875% due August 15, 2034

Original term
10-Year
Maturity
Aug 15, 2034
Coupon
3.875%
Pays
Semi-Annual
Dated
Aug 15, 2024
First coupon
Feb 15, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$128.68bn
Held stripped
$45.6m
Share stripped
0.04%

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
4.799%
Modified duration
6.521 yr
DV01
0.0619
Convexity
0.501
Dirty price
94.979

Where its rate sensitivity sits

0.01
0.01
0.03
0.07
0.17
0.32
4.59
1.47
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 8 of twelve buckets, summing to 6.674 years against a modified duration of 6.521.

Against the fitted curve

Priced 3.0 bp cheap to the curve on that day, 18.85 cents per 100 of face.

That is 0.93 standard deviations from its own typical residual.

Yield to maturity, 558 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%5.25%Aug 15, 2024Nov 9, 2026Aug 15, 2024Yield to maturity3.917%Aug 20, 2024Yield to maturity3.818%Aug 23, 2024Yield to maturity3.807%Aug 28, 2024Yield to maturity3.841%Sep 3, 2024Yield to maturity3.840%Sep 6, 2024Yield to maturity3.719%Sep 11, 2024Yield to maturity3.652%Sep 16, 2024Yield to maturity3.625%Sep 19, 2024Yield to maturity3.726%Sep 24, 2024Yield to maturity3.734%Sep 27, 2024Yield to maturity3.749%Oct 2, 2024Yield to maturity3.783%Oct 7, 2024Yield to maturity4.022%Oct 10, 2024Yield to maturity4.088%Oct 16, 2024Yield to maturity4.018%Oct 21, 2024Yield to maturity4.180%Oct 24, 2024Yield to maturity4.208%Oct 29, 2024Yield to maturity4.276%Nov 1, 2024Yield to maturity4.369%Nov 6, 2024Yield to maturity4.435%Nov 12, 2024Yield to maturity4.444%Nov 15, 2024Yield to maturity4.432%Nov 20, 2024Yield to maturity4.416%Nov 25, 2024Yield to maturity4.271%Nov 29, 2024Yield to maturity4.179%Dec 4, 2024Yield to maturity4.191%Dec 9, 2024Yield to maturity4.199%Dec 12, 2024Yield to maturity4.325%Dec 17, 2024Yield to maturity4.395%Dec 20, 2024Yield to maturity4.520%Dec 26, 2024Yield to maturity4.574%Dec 31, 2024Yield to maturity4.571%Jan 6, 2025Yield to maturity4.618%Jan 9, 2025Yield to maturity4.687%Jan 14, 2025Yield to maturity4.786%Jan 17, 2025Yield to maturity4.608%Jan 23, 2025Yield to maturity4.638%Jan 28, 2025Yield to maturity4.538%Jan 31, 2025Yield to maturity4.573%Feb 5, 2025Yield to maturity4.414%Feb 10, 2025Yield to maturity4.494%Feb 13, 2025Yield to maturity4.524%Feb 19, 2025Yield to maturity4.529%Feb 24, 2025Yield to maturity4.396%Feb 27, 2025Yield to maturity4.280%Mar 4, 2025Yield to maturity4.214%Mar 7, 2025Yield to maturity4.310%Mar 12, 2025Yield to maturity4.310%Mar 17, 2025Yield to maturity4.302%Mar 20, 2025Yield to maturity4.224%Mar 25, 2025Yield to maturity4.299%Mar 28, 2025Yield to maturity4.249%Apr 2, 2025Yield to maturity4.183%Apr 7, 2025Yield to maturity4.122%Apr 10, 2025Yield to maturity4.388%Apr 15, 2025Yield to maturity4.326%Apr 21, 2025Yield to maturity4.394%Apr 24, 2025Yield to maturity4.298%Apr 29, 2025Yield to maturity4.152%May 2, 2025Yield to maturity4.294%May 7, 2025Yield to maturity4.244%May 12, 2025Yield to maturity4.435%May 15, 2025Yield to maturity4.422%May 20, 2025Yield to maturity4.453%May 23, 2025Yield to maturity4.488%May 29, 2025Yield to maturity4.399%Jun 3, 2025Yield to maturity4.429%Jun 6, 2025Yield to maturity4.482%Jun 11, 2025Yield to maturity4.379%Jun 16, 2025Yield to maturity4.418%Jun 20, 2025Yield to maturity4.338%Jun 25, 2025Yield to maturity4.241%Jun 30, 2025Yield to maturity4.182%Jul 3, 2025Yield to maturity4.301%Jul 9, 2025Yield to maturity4.293%Jul 14, 2025Yield to maturity4.379%Jul 17, 2025Yield to maturity4.414%Jul 22, 2025Yield to maturity4.286%Jul 25, 2025Yield to maturity4.334%Jul 30, 2025Yield to maturity4.321%Aug 4, 2025Yield to maturity4.147%Aug 7, 2025Yield to maturity4.181%Aug 12, 2025Yield to maturity4.224%Aug 15, 2025Yield to maturity4.255%Aug 20, 2025Yield to maturity4.212%Aug 25, 2025Yield to maturity4.204%Aug 28, 2025Yield to maturity4.131%Sep 3, 2025Yield to maturity4.132%Sep 8, 2025Yield to maturity3.971%Sep 11, 2025Yield to maturity3.929%Sep 16, 2025Yield to maturity3.950%Sep 19, 2025Yield to maturity4.052%Sep 24, 2025Yield to maturity4.073%Sep 29, 2025Yield to maturity4.073%Oct 2, 2025Yield to maturity4.018%Oct 7, 2025Yield to maturity4.061%Oct 10, 2025Yield to maturity3.984%Oct 16, 2025Yield to maturity3.900%Oct 21, 2025Yield to maturity3.887%Oct 24, 2025Yield to maturity3.929%Oct 29, 2025Yield to maturity4.002%Nov 3, 2025Yield to maturity4.045%Nov 6, 2025Yield to maturity4.024%Nov 12, 2025Yield to maturity4.002%Nov 17, 2025Yield to maturity4.046%Nov 20, 2025Yield to maturity4.016%Nov 25, 2025Yield to maturity3.913%Dec 1, 2025Yield to maturity4.003%Dec 4, 2025Yield to maturity4.012%Dec 9, 2025Yield to maturity4.094%Dec 12, 2025Yield to maturity4.099%Dec 17, 2025Yield to maturity4.056%Dec 22, 2025Yield to maturity4.069%Dec 26, 2025Yield to maturity4.043%Dec 31, 2025Yield to maturity4.078%Jan 6, 2026Yield to maturity4.079%Jan 9, 2026Yield to maturity4.083%Jan 14, 2026Yield to maturity4.048%Jan 20, 2026Yield to maturity4.203%Jan 23, 2026Yield to maturity4.150%Jan 28, 2026Yield to maturity4.168%Feb 2, 2026Yield to maturity4.187%Feb 5, 2026Yield to maturity4.107%Feb 10, 2026Yield to maturity4.050%Feb 13, 2026Yield to maturity3.945%Feb 19, 2026Yield to maturity3.976%Feb 24, 2026Yield to maturity3.936%Feb 27, 2026Yield to maturity3.857%Mar 4, 2026Yield to maturity3.989%Mar 9, 2026Yield to maturity4.016%Mar 12, 2026Yield to maturity4.176%Mar 17, 2026Yield to maturity4.096%Mar 20, 2026Yield to maturity4.308%Mar 25, 2026Yield to maturity4.241%Mar 30, 2026Yield to maturity4.259%Apr 2, 2026Yield to maturity4.223%Apr 7, 2026Yield to maturity4.237%Apr 10, 2026Yield to maturity4.224%Apr 15, 2026Yield to maturity4.188%Apr 20, 2026Yield to maturity4.152%Apr 23, 2026Yield to maturity4.239%Apr 28, 2026Yield to maturity4.262%May 1, 2026Yield to maturity4.290%May 6, 2026Yield to maturity4.258%May 11, 2026Yield to maturity4.324%May 14, 2026Yield to maturity4.375%May 19, 2026Yield to maturity4.582%May 22, 2026Yield to maturity4.484%May 28, 2026Yield to maturity4.372%Jun 2, 2026Yield to maturity4.378%Jun 5, 2026Yield to maturity4.477%Jun 10, 2026Yield to maturity4.473%Jun 15, 2026Yield to maturity4.389%Jun 18, 2026Yield to maturity4.395%Jun 24, 2026Yield to maturity4.343%Jun 29, 2026Yield to maturity4.307%Jul 2, 2026Yield to maturity4.420%Jul 8, 2026Yield to maturity4.492%Jul 13, 2026Yield to maturity4.546%Jul 16, 2026Yield to maturity4.484%Jul 21, 2026Yield to maturity4.552%Jul 24, 2026Yield to maturity4.606%Jul 29, 2026Yield to maturity4.578%Aug 3, 2026Yield to maturity4.603%Aug 6, 2026Yield to maturity4.594%Aug 11, 2026Yield to maturity4.610%Aug 14, 2026Yield to maturity4.587%Aug 19, 2026Yield to maturity4.553%Aug 24, 2026Yield to maturity4.613%Aug 27, 2026Yield to maturity4.589%Sep 1, 2026Yield to maturity4.722%Sep 4, 2026Yield to maturity4.709%Sep 10, 2026Yield to maturity4.893%Sep 15, 2026Yield to maturity4.950%Sep 18, 2026Yield to maturity4.971%Sep 23, 2026Yield to maturity5.084%Sep 28, 2026Yield to maturity5.198%Oct 1, 2026Yield to maturity5.179%Oct 6, 2026Yield to maturity5.201%Oct 9, 2026Yield to maturity5.188%Oct 15, 2026Yield to maturity5.045%Oct 20, 2026Yield to maturity5.068%Oct 23, 2026Yield to maturity4.942%Oct 28, 2026Yield to maturity4.994%Nov 2, 2026Yield to maturity4.838%Nov 5, 2026Yield to maturity4.743%Nov 9, 2026Yield to maturity4.799%

Price history

558 trading days to Nov 9, 2026

9092949698100102104Aug 15, 2024Nov 9, 2026Aug 15, 2024Close99.656Aug 20, 2024Close100.469Aug 23, 2024Close100.563Aug 28, 2024Close100.281Sep 3, 2024Close100.281Sep 6, 2024Close101.281Sep 11, 2024Close101.844Sep 16, 2024Close102.063Sep 19, 2024Close101.219Sep 24, 2024Close101.156Sep 27, 2024Close101.031Oct 2, 2024Close100.750Oct 7, 2024Close98.813Oct 10, 2024Close98.281Oct 16, 2024Close98.844Oct 21, 2024Close97.563Oct 24, 2024Close97.344Oct 29, 2024Close96.813Nov 1, 2024Close96.094Nov 6, 2024Close95.594Nov 12, 2024Close95.531Nov 15, 2024Close95.625Nov 20, 2024Close95.750Nov 25, 2024Close96.875Nov 29, 2024Close97.594Dec 4, 2024Close97.500Dec 9, 2024Close97.438Dec 12, 2024Close96.469Dec 17, 2024Close95.938Dec 20, 2024Close95.000Dec 26, 2024Close94.594Dec 31, 2024Close94.625Jan 6, 2025Close94.281Jan 9, 2025Close93.781Jan 14, 2025Close93.063Jan 17, 2025Close94.375Jan 23, 2025Close94.156Jan 28, 2025Close94.906Jan 31, 2025Close94.656Feb 5, 2025Close95.844Feb 10, 2025Close95.250Feb 13, 2025Close95.031Feb 19, 2025Close95.000Feb 24, 2025Close96.000Feb 27, 2025Close96.875Mar 4, 2025Close97.375Mar 7, 2025Close96.656Mar 12, 2025Close96.656Mar 17, 2025Close96.719Mar 20, 2025Close97.313Mar 25, 2025Close96.750Mar 28, 2025Close97.125Apr 2, 2025Close97.625Apr 7, 2025Close98.094Apr 10, 2025Close96.094Apr 15, 2025Close96.563Apr 21, 2025Close96.063Apr 24, 2025Close96.781Apr 29, 2025Close97.875May 2, 2025Close96.813May 7, 2025Close97.188May 12, 2025Close95.781May 15, 2025Close95.875May 20, 2025Close95.656May 23, 2025Close95.406May 29, 2025Close96.063Jun 3, 2025Close95.844Jun 6, 2025Close95.469Jun 11, 2025Close96.219Jun 16, 2025Close95.938Jun 20, 2025Close96.531Jun 25, 2025Close97.250Jun 30, 2025Close97.688Jul 3, 2025Close96.813Jul 9, 2025Close96.875Jul 14, 2025Close96.250Jul 17, 2025Close96.000Jul 22, 2025Close96.938Jul 25, 2025Close96.594Jul 30, 2025Close96.688Aug 4, 2025Close97.969Aug 7, 2025Close97.719Aug 12, 2025Close97.406Aug 15, 2025Close97.188Aug 20, 2025Close97.500Aug 25, 2025Close97.563Aug 28, 2025Close98.094Sep 3, 2025Close98.094Sep 8, 2025Close99.281Sep 11, 2025Close99.594Sep 16, 2025Close99.438Sep 19, 2025Close98.688Sep 24, 2025Close98.531Sep 29, 2025Close98.531Oct 2, 2025Close98.938Oct 7, 2025Close98.625Oct 10, 2025Close99.188Oct 16, 2025Close99.813Oct 21, 2025Close99.906Oct 24, 2025Close99.594Oct 29, 2025Close99.063Nov 3, 2025Close98.750Nov 6, 2025Close98.906Nov 12, 2025Close99.063Nov 17, 2025Close98.750Nov 20, 2025Close98.969Nov 25, 2025Close99.719Dec 1, 2025Close99.063Dec 4, 2025Close99.000Dec 9, 2025Close98.406Dec 12, 2025Close98.375Dec 17, 2025Close98.688Dec 22, 2025Close98.594Dec 26, 2025Close98.781Dec 31, 2025Close98.531Jan 6, 2026Close98.531Jan 9, 2026Close98.500Jan 14, 2026Close98.750Jan 20, 2026Close97.656Jan 23, 2026Close98.031Jan 28, 2026Close97.906Feb 2, 2026Close97.781Feb 5, 2026Close98.344Feb 10, 2026Close98.750Feb 13, 2026Close99.500Feb 19, 2026Close99.281Feb 24, 2026Close99.563Feb 27, 2026Close100.125Mar 4, 2026Close99.188Mar 9, 2026Close99.000Mar 12, 2026Close97.875Mar 17, 2026Close98.438Mar 20, 2026Close96.969Mar 25, 2026Close97.438Mar 30, 2026Close97.313Apr 2, 2026Close97.563Apr 7, 2026Close97.469Apr 10, 2026Close97.563Apr 15, 2026Close97.813Apr 20, 2026Close98.063Apr 23, 2026Close97.469Apr 28, 2026Close97.313May 1, 2026Close97.125May 6, 2026Close97.344May 11, 2026Close96.906May 14, 2026Close96.563May 19, 2026Close95.188May 22, 2026Close95.844May 28, 2026Close96.594Jun 2, 2026Close96.563Jun 5, 2026Close95.906Jun 10, 2026Close95.938Jun 15, 2026Close96.500Jun 18, 2026Close96.469Jun 24, 2026Close96.813Jun 29, 2026Close97.063Jul 2, 2026Close96.313Jul 8, 2026Close95.844Jul 13, 2026Close95.500Jul 16, 2026Close95.906Jul 21, 2026Close95.469Jul 24, 2026Close95.125Jul 29, 2026Close95.313Aug 3, 2026Close95.156Aug 6, 2026Close95.219Aug 11, 2026Close95.125Aug 14, 2026Close95.281Aug 19, 2026Close95.500Aug 24, 2026Close95.125Aug 27, 2026Close95.281Sep 1, 2026Close94.438Sep 4, 2026Close94.531Sep 10, 2026Close93.375Sep 15, 2026Close93.031Sep 18, 2026Close92.906Sep 23, 2026Close92.219Sep 28, 2026Close91.531Oct 1, 2026Close91.656Oct 6, 2026Close91.531Oct 9, 2026Close91.625Oct 15, 2026Close92.500Oct 20, 2026Close92.375Oct 23, 2026Close93.156Oct 28, 2026Close92.844Nov 2, 2026Close93.813Nov 5, 2026Close94.406Nov 9, 2026Close94.063
The most recent 20 trading days of prices for 91282CLF6.
DateBidOfferClose
Nov 9, 202694.06394.09494.063
Nov 6, 202694.15694.18894.188
Nov 5, 202694.28194.29794.406
Nov 4, 202693.78193.81393.969
Nov 3, 202693.62593.65693.563
Nov 2, 202693.93893.95393.813
Oct 30, 202693.53193.54793.656
Oct 29, 202693.28193.31393.313
Oct 28, 202692.90692.92292.844
Oct 27, 202693.15693.17293.156
Oct 26, 202693.12593.15693.094
Oct 23, 202693.12593.15693.156
Oct 22, 202693.03193.04793.375
Oct 21, 202692.43892.45392.281
Oct 20, 202692.43892.45392.375
Oct 19, 202692.31392.34492.219
Oct 16, 202692.59492.62592.563
Oct 15, 202692.46992.48492.500
Oct 14, 202691.53191.54791.906
Oct 13, 202691.78191.79791.813

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.

3 auctions

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 91282CLF6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 7, 2024Aug 15, 2024New issue$42.0bn$50.0bn2.32x3.960%
Sep 11, 2024Sep 16, 2024Reopening$39.0bn$39.4bn2.64x3.648%
Oct 9, 2024Oct 15, 2024Reopening$39.0bn$39.5bn2.48x4.066%

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.