Treasury note

91282CLK5 · 3.625% due August 31, 2029

Original term
5-Year
Maturity
Aug 31, 2029
Coupon
3.625%
Pays
Semi-Annual
Dated
Aug 31, 2024
First coupon
Feb 28, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$75.54bn
Held stripped
$243.2m
Share stripped
0.32%

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
4.620%
Modified duration
2.611 yr
DV01
0.0256
Convexity
0.0831
Dirty price
98.117

Where its rate sensitivity sits

<.01
0.01
0.03
0.56
2.07
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 2.673 years against a modified duration of 2.611.

Against the fitted curve

Priced 1.0 bp rich to the curve on that day, 2.56 cents per 100 of face.

That is -0.42 standard deviations from its own typical residual.

Yield to maturity, 546 observations

3.0%3.5%4.0%4.5%5.0%5.5%Sep 3, 2024Nov 9, 2026Sep 3, 2024Yield to maturity3.653%Sep 6, 2024Yield to maturity3.501%Sep 11, 2024Yield to maturity3.445%Sep 16, 2024Yield to maturity3.410%Sep 19, 2024Yield to maturity3.493%Sep 24, 2024Yield to maturity3.472%Sep 27, 2024Yield to maturity3.492%Oct 2, 2024Yield to maturity3.541%Oct 7, 2024Yield to maturity3.858%Oct 10, 2024Yield to maturity3.908%Oct 16, 2024Yield to maturity3.837%Oct 21, 2024Yield to maturity3.967%Oct 24, 2024Yield to maturity4.025%Oct 29, 2024Yield to maturity4.099%Nov 1, 2024Yield to maturity4.210%Nov 6, 2024Yield to maturity4.269%Nov 12, 2024Yield to maturity4.316%Nov 15, 2024Yield to maturity4.295%Nov 20, 2024Yield to maturity4.274%Nov 25, 2024Yield to maturity4.179%Nov 29, 2024Yield to maturity4.070%Dec 4, 2024Yield to maturity4.078%Dec 9, 2024Yield to maturity4.079%Dec 12, 2024Yield to maturity4.184%Dec 17, 2024Yield to maturity4.261%Dec 20, 2024Yield to maturity4.376%Dec 26, 2024Yield to maturity4.424%Dec 31, 2024Yield to maturity4.388%Jan 6, 2025Yield to maturity4.421%Jan 9, 2025Yield to maturity4.453%Jan 14, 2025Yield to maturity4.587%Jan 17, 2025Yield to maturity4.412%Jan 23, 2025Yield to maturity4.444%Jan 28, 2025Yield to maturity4.330%Jan 31, 2025Yield to maturity4.363%Feb 5, 2025Yield to maturity4.241%Feb 10, 2025Yield to maturity4.343%Feb 13, 2025Yield to maturity4.392%Feb 19, 2025Yield to maturity4.363%Feb 24, 2025Yield to maturity4.224%Feb 27, 2025Yield to maturity4.093%Mar 4, 2025Yield to maturity4.001%Mar 7, 2025Yield to maturity4.080%Mar 12, 2025Yield to maturity4.073%Mar 17, 2025Yield to maturity4.097%Mar 20, 2025Yield to maturity3.996%Mar 25, 2025Yield to maturity4.052%Mar 28, 2025Yield to maturity3.967%Apr 2, 2025Yield to maturity3.936%Apr 7, 2025Yield to maturity3.796%Apr 10, 2025Yield to maturity4.008%Apr 15, 2025Yield to maturity3.954%Apr 21, 2025Yield to maturity3.915%Apr 24, 2025Yield to maturity3.892%Apr 29, 2025Yield to maturity3.734%May 2, 2025Yield to maturity3.894%May 7, 2025Yield to maturity3.838%May 12, 2025Yield to maturity4.072%May 15, 2025Yield to maturity4.048%May 20, 2025Yield to maturity4.041%May 23, 2025Yield to maturity4.059%May 29, 2025Yield to maturity3.978%Jun 3, 2025Yield to maturity4.004%Jun 6, 2025Yield to maturity4.104%Jun 11, 2025Yield to maturity3.989%Jun 16, 2025Yield to maturity4.007%Jun 20, 2025Yield to maturity3.934%Jun 25, 2025Yield to maturity3.803%Jun 30, 2025Yield to maturity3.755%Jul 3, 2025Yield to maturity3.912%Jul 9, 2025Yield to maturity3.880%Jul 14, 2025Yield to maturity3.939%Jul 17, 2025Yield to maturity3.964%Jul 22, 2025Yield to maturity3.840%Jul 25, 2025Yield to maturity3.908%Jul 30, 2025Yield to maturity3.925%Aug 4, 2025Yield to maturity3.700%Aug 7, 2025Yield to maturity3.750%Aug 12, 2025Yield to maturity3.776%Aug 15, 2025Yield to maturity3.793%Aug 20, 2025Yield to maturity3.760%Aug 25, 2025Yield to maturity3.743%Aug 28, 2025Yield to maturity3.650%Sep 3, 2025Yield to maturity3.642%Sep 8, 2025Yield to maturity3.523%Sep 11, 2025Yield to maturity3.548%Sep 16, 2025Yield to maturity3.548%Sep 19, 2025Yield to maturity3.633%Sep 24, 2025Yield to maturity3.668%Sep 29, 2025Yield to maturity3.694%Oct 2, 2025Yield to maturity3.624%Oct 7, 2025Yield to maturity3.659%Oct 10, 2025Yield to maturity3.598%Oct 16, 2025Yield to maturity3.485%Oct 21, 2025Yield to maturity3.511%Oct 24, 2025Yield to maturity3.554%Oct 29, 2025Yield to maturity3.659%Nov 3, 2025Yield to maturity3.668%Nov 6, 2025Yield to maturity3.633%Nov 12, 2025Yield to maturity3.615%Nov 17, 2025Yield to maturity3.668%Nov 20, 2025Yield to maturity3.615%Nov 25, 2025Yield to maturity3.517%Dec 1, 2025Yield to maturity3.606%Dec 4, 2025Yield to maturity3.606%Dec 9, 2025Yield to maturity3.705%Dec 12, 2025Yield to maturity3.660%Dec 17, 2025Yield to maturity3.606%Dec 22, 2025Yield to maturity3.624%Dec 26, 2025Yield to maturity3.606%Dec 31, 2025Yield to maturity3.624%Jan 6, 2026Yield to maturity3.606%Jan 9, 2026Yield to maturity3.661%Jan 14, 2026Yield to maturity3.624%Jan 20, 2026Yield to maturity3.746%Jan 23, 2026Yield to maturity3.727%Jan 28, 2026Yield to maturity3.728%Feb 2, 2026Yield to maturity3.709%Feb 5, 2026Yield to maturity3.624%Feb 10, 2026Yield to maturity3.587%Feb 13, 2026Yield to maturity3.501%Feb 19, 2026Yield to maturity3.549%Feb 24, 2026Yield to maturity3.510%Feb 27, 2026Yield to maturity3.434%Mar 4, 2026Yield to maturity3.586%Mar 9, 2026Yield to maturity3.625%Mar 12, 2026Yield to maturity3.809%Mar 17, 2026Yield to maturity3.712%Mar 20, 2026Yield to maturity3.948%Mar 25, 2026Yield to maturity3.919%Mar 30, 2026Yield to maturity3.900%Apr 2, 2026Yield to maturity3.861%Apr 7, 2026Yield to maturity3.882%Apr 10, 2026Yield to maturity3.853%Apr 15, 2026Yield to maturity3.813%Apr 20, 2026Yield to maturity3.764%Apr 23, 2026Yield to maturity3.875%Apr 28, 2026Yield to maturity3.906%May 1, 2026Yield to maturity3.938%May 6, 2026Yield to maturity3.918%May 11, 2026Yield to maturity4.001%May 14, 2026Yield to maturity4.064%May 19, 2026Yield to maturity4.231%May 22, 2026Yield to maturity4.192%May 28, 2026Yield to maturity4.100%Jun 2, 2026Yield to maturity4.123%Jun 5, 2026Yield to maturity4.241%Jun 10, 2026Yield to maturity4.210%Jun 15, 2026Yield to maturity4.128%Jun 18, 2026Yield to maturity4.205%Jun 24, 2026Yield to maturity4.163%Jun 29, 2026Yield to maturity4.112%Jul 2, 2026Yield to maturity4.179%Jul 8, 2026Yield to maturity4.246%Jul 13, 2026Yield to maturity4.314%Jul 16, 2026Yield to maturity4.217%Jul 21, 2026Yield to maturity4.307%Jul 24, 2026Yield to maturity4.376%Jul 29, 2026Yield to maturity4.301%Aug 3, 2026Yield to maturity4.326%Aug 6, 2026Yield to maturity4.328%Aug 11, 2026Yield to maturity4.309%Aug 14, 2026Yield to maturity4.267%Aug 19, 2026Yield to maturity4.257%Aug 24, 2026Yield to maturity4.317%Aug 27, 2026Yield to maturity4.307%Sep 1, 2026Yield to maturity4.470%Sep 4, 2026Yield to maturity4.463%Sep 10, 2026Yield to maturity4.661%Sep 15, 2026Yield to maturity4.770%Sep 18, 2026Yield to maturity4.834%Sep 23, 2026Yield to maturity4.979%Sep 28, 2026Yield to maturity5.009%Oct 1, 2026Yield to maturity4.905%Oct 6, 2026Yield to maturity4.923%Oct 9, 2026Yield to maturity4.930%Oct 15, 2026Yield to maturity4.861%Oct 20, 2026Yield to maturity4.879%Oct 23, 2026Yield to maturity4.763%Oct 28, 2026Yield to maturity4.803%Nov 2, 2026Yield to maturity4.662%Nov 5, 2026Yield to maturity4.531%Nov 9, 2026Yield to maturity4.620%

Price history

546 trading days to Nov 9, 2026

9596979899100101Sep 3, 2024Nov 9, 2026Sep 3, 2024Close99.875Sep 6, 2024Close100.563Sep 11, 2024Close100.813Sep 16, 2024Close100.969Sep 19, 2024Close100.594Sep 24, 2024Close100.688Sep 27, 2024Close100.594Oct 2, 2024Close100.375Oct 7, 2024Close98.969Oct 10, 2024Close98.750Oct 16, 2024Close99.063Oct 21, 2024Close98.500Oct 24, 2024Close98.250Oct 29, 2024Close97.938Nov 1, 2024Close97.469Nov 6, 2024Close97.219Nov 12, 2024Close97.031Nov 15, 2024Close97.125Nov 20, 2024Close97.219Nov 25, 2024Close97.625Nov 29, 2024Close98.094Dec 4, 2024Close98.063Dec 9, 2024Close98.063Dec 12, 2024Close97.625Dec 17, 2024Close97.313Dec 20, 2024Close96.844Dec 26, 2024Close96.656Dec 31, 2024Close96.813Jan 6, 2025Close96.688Jan 9, 2025Close96.563Jan 14, 2025Close96.031Jan 17, 2025Close96.750Jan 23, 2025Close96.625Jan 28, 2025Close97.094Jan 31, 2025Close96.969Feb 5, 2025Close97.469Feb 10, 2025Close97.063Feb 13, 2025Close96.875Feb 19, 2025Close97.000Feb 24, 2025Close97.563Feb 27, 2025Close98.094Mar 4, 2025Close98.469Mar 7, 2025Close98.156Mar 12, 2025Close98.188Mar 17, 2025Close98.094Mar 20, 2025Close98.500Mar 25, 2025Close98.281Mar 28, 2025Close98.625Apr 2, 2025Close98.750Apr 7, 2025Close99.313Apr 10, 2025Close98.469Apr 15, 2025Close98.688Apr 21, 2025Close98.844Apr 24, 2025Close98.938Apr 29, 2025Close99.563May 2, 2025Close98.938May 7, 2025Close99.156May 12, 2025Close98.250May 15, 2025Close98.344May 20, 2025Close98.375May 23, 2025Close98.313May 29, 2025Close98.625Jun 3, 2025Close98.531Jun 6, 2025Close98.156Jun 11, 2025Close98.594Jun 16, 2025Close98.531Jun 20, 2025Close98.813Jun 25, 2025Close99.313Jun 30, 2025Close99.500Jul 3, 2025Close98.906Jul 9, 2025Close99.031Jul 14, 2025Close98.813Jul 17, 2025Close98.719Jul 22, 2025Close99.188Jul 25, 2025Close98.938Jul 30, 2025Close98.875Aug 4, 2025Close99.719Aug 7, 2025Close99.531Aug 12, 2025Close99.438Aug 15, 2025Close99.375Aug 20, 2025Close99.500Aug 25, 2025Close99.563Aug 28, 2025Close99.906Sep 3, 2025Close99.938Sep 8, 2025Close100.375Sep 11, 2025Close100.281Sep 16, 2025Close100.281Sep 19, 2025Close99.969Sep 24, 2025Close99.844Sep 29, 2025Close99.750Oct 2, 2025Close100.000Oct 7, 2025Close99.875Oct 10, 2025Close100.094Oct 16, 2025Close100.500Oct 21, 2025Close100.406Oct 24, 2025Close100.250Oct 29, 2025Close99.875Nov 3, 2025Close99.844Nov 6, 2025Close99.969Nov 12, 2025Close100.031Nov 17, 2025Close99.844Nov 20, 2025Close100.031Nov 25, 2025Close100.375Dec 1, 2025Close100.063Dec 4, 2025Close100.063Dec 9, 2025Close99.719Dec 12, 2025Close99.875Dec 17, 2025Close100.063Dec 22, 2025Close100.000Dec 26, 2025Close100.063Dec 31, 2025Close100.000Jan 6, 2026Close100.063Jan 9, 2026Close99.875Jan 14, 2026Close100.000Jan 20, 2026Close99.594Jan 23, 2026Close99.656Jan 28, 2026Close99.656Feb 2, 2026Close99.719Feb 5, 2026Close100.000Feb 10, 2026Close100.125Feb 13, 2026Close100.406Feb 19, 2026Close100.250Feb 24, 2026Close100.375Feb 27, 2026Close100.625Mar 4, 2026Close100.125Mar 9, 2026Close100.000Mar 12, 2026Close99.406Mar 17, 2026Close99.719Mar 20, 2026Close98.969Mar 25, 2026Close99.063Mar 30, 2026Close99.125Apr 2, 2026Close99.250Apr 7, 2026Close99.188Apr 10, 2026Close99.281Apr 15, 2026Close99.406Apr 20, 2026Close99.563Apr 23, 2026Close99.219Apr 28, 2026Close99.125May 1, 2026Close99.031May 6, 2026Close99.094May 11, 2026Close98.844May 14, 2026Close98.656May 19, 2026Close98.156May 22, 2026Close98.281May 28, 2026Close98.563Jun 2, 2026Close98.500Jun 5, 2026Close98.156Jun 10, 2026Close98.250Jun 15, 2026Close98.500Jun 18, 2026Close98.281Jun 24, 2026Close98.406Jun 29, 2026Close98.563Jul 2, 2026Close98.375Jul 8, 2026Close98.188Jul 13, 2026Close98.000Jul 16, 2026Close98.281Jul 21, 2026Close98.031Jul 24, 2026Close97.844Jul 29, 2026Close98.063Aug 3, 2026Close98.000Aug 6, 2026Close98.000Aug 11, 2026Close98.063Aug 14, 2026Close98.188Aug 19, 2026Close98.219Aug 24, 2026Close98.063Aug 27, 2026Close98.094Sep 1, 2026Close97.656Sep 4, 2026Close97.688Sep 10, 2026Close97.156Sep 15, 2026Close96.875Sep 18, 2026Close96.719Sep 23, 2026Close96.344Sep 28, 2026Close96.281Oct 1, 2026Close96.563Oct 6, 2026Close96.531Oct 9, 2026Close96.531Oct 15, 2026Close96.719Oct 20, 2026Close96.688Oct 23, 2026Close97.000Oct 28, 2026Close96.906Nov 2, 2026Close97.281Nov 5, 2026Close97.625Nov 9, 2026Close97.406
The most recent 20 trading days of prices for 91282CLK5.
DateBidOfferClose
Nov 9, 202697.40697.42297.406
Nov 6, 202697.46997.48497.500
Nov 5, 202697.46997.48497.625
Nov 4, 202697.28197.29797.344
Nov 3, 202697.25097.26697.219
Nov 2, 202697.31397.32897.281
Oct 30, 202697.18897.21997.281
Oct 29, 202697.09497.12597.094
Oct 28, 202696.81396.82896.906
Oct 27, 202696.90696.93896.906
Oct 26, 202696.93896.95396.938
Oct 23, 202697.00097.01697.000
Oct 22, 202696.93896.95397.063
Oct 21, 202696.71996.73496.656
Oct 20, 202696.75096.76696.688
Oct 19, 202696.71996.73496.719
Oct 16, 202696.84496.85996.844
Oct 15, 202696.71996.73496.719
Oct 14, 202696.40696.42296.563
Oct 13, 202696.53196.54796.563

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 91282CLK5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 28, 2024Sep 3, 2024New issue$70.0bn$75.6bn2.41x3.645%

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.