Treasury note

91282CLJ8 · 3.75% due August 31, 2031

Original term
7-Year
Maturity
Aug 31, 2031
Coupon
3.750%
Pays
Semi-Annual
Dated
Aug 31, 2024
First coupon
Feb 28, 2025
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$47.42bn
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
4.756%
Modified duration
4.458 yr
DV01
0.0427
Convexity
23.142
Dirty price
95.708

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 4.563 years against a modified duration of 4.458.

Against the fitted curve

Priced 0.4 bp cheap to the curve on that day, 1.79 cents per 100 of face.

That is -0.04 standard deviations from its own typical residual.

Yield to maturity, 506 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%Sep 3, 2024Sep 10, 2026Sep 3, 2024Yield to maturity3.735%Sep 19, 2024Yield to maturity3.601%Oct 7, 2024Yield to maturity3.932%Oct 24, 2024Yield to maturity4.119%Nov 12, 2024Yield to maturity4.393%Nov 29, 2024Yield to maturity4.119%Dec 17, 2024Yield to maturity4.324%Jan 6, 2025Yield to maturity4.519%Jan 23, 2025Yield to maturity4.547%Feb 10, 2025Yield to maturity4.416%Feb 27, 2025Yield to maturity4.188%Mar 17, 2025Yield to maturity4.202%Apr 2, 2025Yield to maturity4.051%Apr 18, 2025Yield to maturity4.104%May 6, 2025Yield to maturity4.055%May 22, 2025Yield to maturity4.265%Jun 10, 2025Yield to maturity4.216%Jun 27, 2025Yield to maturity3.968%Jul 16, 2025Yield to maturity4.122%Aug 1, 2025Yield to maturity3.889%Aug 19, 2025Yield to maturity3.944%Sep 5, 2025Yield to maturity3.703%Sep 23, 2025Yield to maturity3.779%Oct 9, 2025Yield to maturity3.833%Oct 28, 2025Yield to maturity3.695%Nov 14, 2025Yield to maturity3.822%Dec 3, 2025Yield to maturity3.706%Dec 19, 2025Yield to maturity3.786%Jan 8, 2026Yield to maturity3.811%Jan 27, 2026Yield to maturity3.894%Feb 12, 2026Yield to maturity3.743%Mar 3, 2026Yield to maturity3.693%Mar 19, 2026Yield to maturity3.943%Apr 6, 2026Yield to maturity4.035%Apr 22, 2026Yield to maturity3.965%May 8, 2026Yield to maturity4.060%May 27, 2026Yield to maturity4.210%Jun 12, 2026Yield to maturity4.242%Jul 1, 2026Yield to maturity4.260%Jul 20, 2026Yield to maturity4.341%Aug 5, 2026Yield to maturity4.353%Aug 21, 2026Yield to maturity4.444%Sep 9, 2026Yield to maturity4.624%Sep 10, 2026Yield to maturity4.756%

Price history

506 trading days to Sep 10, 2026

949698100102Sep 3, 2024Sep 10, 2026Sep 3, 2024Close100.094Sep 19, 2024Close100.906Oct 7, 2024Close98.906Oct 24, 2024Close97.813Nov 12, 2024Close96.250Nov 29, 2024Close97.844Dec 17, 2024Close96.688Jan 6, 2025Close95.625Jan 23, 2025Close95.500Feb 10, 2025Close96.250Feb 27, 2025Close97.531Mar 17, 2025Close97.469Apr 2, 2025Close98.313Apr 18, 2025Close98.031May 6, 2025Close98.313May 22, 2025Close97.188Jun 10, 2025Close97.469Jun 27, 2025Close98.813Jul 16, 2025Close98.000Aug 1, 2025Close99.250Aug 19, 2025Close98.969Sep 5, 2025Close100.250Sep 23, 2025Close99.844Oct 9, 2025Close99.563Oct 28, 2025Close100.281Nov 14, 2025Close99.625Dec 3, 2025Close100.219Dec 19, 2025Close99.813Jan 8, 2026Close99.688Jan 27, 2026Close99.281Feb 12, 2026Close100.031Mar 3, 2026Close100.281Mar 19, 2026Close99.063Apr 6, 2026Close98.625Apr 22, 2026Close98.969May 8, 2026Close98.531May 27, 2026Close97.844Jun 12, 2026Close97.719Jul 1, 2026Close97.656Jul 20, 2026Close97.313Aug 5, 2026Close97.281Aug 21, 2026Close96.906Sep 9, 2026Close96.156Sep 10, 2026Close95.594
The most recent 20 trading days of prices for 91282CLJ8.
DateBidOfferClose
Sep 10, 202695.73495.71995.594
Sep 9, 202696.17296.15696.156
Sep 8, 202696.39196.37596.344
Sep 4, 202696.48496.46996.438
Sep 3, 202696.64196.62596.563
Sep 2, 202696.39196.37596.406
Sep 1, 202696.51696.50096.375
Aug 31, 202696.64196.62596.625
Aug 28, 202696.79796.78196.656
Aug 27, 202697.17297.15697.063
Aug 26, 202697.14197.12597.125
Aug 25, 202697.23497.21997.250
Aug 24, 202697.04797.03196.969
Aug 21, 202696.89196.87596.906
Aug 20, 202697.07897.06397.094
Aug 19, 202697.20397.18897.250
Aug 18, 202697.14197.12597.125
Aug 17, 202697.17297.15697.094
Aug 14, 202697.26697.25097.188
Aug 13, 202697.35997.34497.375

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 91282CLJ8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 29, 2024Sep 3, 2024New issue$44.0bn$47.5bn2.50x3.770%

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.