Treasury note

91282CLN9 · 3.5% due September 30, 2029

Original term
5-Year
Maturity
Sep 30, 2029
Coupon
3.500%
Pays
Semi-Annual
Dated
Sep 30, 2024
First coupon
Mar 31, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$71.32bn
Held stripped
$196.0m
Share stripped
0.27%

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
4.609%
Modified duration
2.697 yr
DV01
0.0263
Convexity
0.088
Dirty price
97.425

Where its rate sensitivity sits

<.01
0.01
0.03
0.36
2.36
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 2.759 years against a modified duration of 2.697.

Against the fitted curve

Priced 2.3 bp rich to the curve on that day, 6.09 cents per 100 of face.

That is -1.33 standard deviations from its own typical residual.

Yield to maturity, 527 observations

3.0%3.5%4.0%4.5%5.0%5.5%Sep 30, 2024Nov 9, 2026Sep 30, 2024Yield to maturity3.583%Oct 3, 2024Yield to maturity3.624%Oct 8, 2024Yield to maturity3.862%Oct 11, 2024Yield to maturity3.884%Oct 17, 2024Yield to maturity3.899%Oct 22, 2024Yield to maturity3.999%Oct 25, 2024Yield to maturity4.065%Oct 30, 2024Yield to maturity4.145%Nov 4, 2024Yield to maturity4.168%Nov 7, 2024Yield to maturity4.176%Nov 13, 2024Yield to maturity4.303%Nov 18, 2024Yield to maturity4.290%Nov 21, 2024Yield to maturity4.306%Nov 26, 2024Yield to maturity4.198%Dec 2, 2024Yield to maturity4.097%Dec 5, 2024Yield to maturity4.091%Dec 10, 2024Yield to maturity4.107%Dec 13, 2024Yield to maturity4.264%Dec 18, 2024Yield to maturity4.407%Dec 23, 2024Yield to maturity4.447%Dec 27, 2024Yield to maturity4.457%Jan 2, 2025Yield to maturity4.376%Jan 7, 2025Yield to maturity4.462%Jan 10, 2025Yield to maturity4.594%Jan 15, 2025Yield to maturity4.458%Jan 21, 2025Yield to maturity4.401%Jan 24, 2025Yield to maturity4.434%Jan 29, 2025Yield to maturity4.359%Feb 3, 2025Yield to maturity4.353%Feb 6, 2025Yield to maturity4.278%Feb 11, 2025Yield to maturity4.373%Feb 14, 2025Yield to maturity4.337%Feb 20, 2025Yield to maturity4.346%Feb 25, 2025Yield to maturity4.133%Feb 28, 2025Yield to maturity4.035%Mar 5, 2025Yield to maturity4.074%Mar 10, 2025Yield to maturity3.976%Mar 13, 2025Yield to maturity4.023%Mar 18, 2025Yield to maturity4.071%Mar 21, 2025Yield to maturity3.996%Mar 26, 2025Yield to maturity4.082%Mar 31, 2025Yield to maturity3.951%Apr 3, 2025Yield to maturity3.736%Apr 8, 2025Yield to maturity3.860%Apr 11, 2025Yield to maturity4.135%Apr 16, 2025Yield to maturity3.877%Apr 22, 2025Yield to maturity3.949%Apr 25, 2025Yield to maturity3.856%Apr 30, 2025Yield to maturity3.693%May 5, 2025Yield to maturity3.913%May 8, 2025Yield to maturity3.976%May 13, 2025Yield to maturity4.105%May 16, 2025Yield to maturity4.043%May 21, 2025Yield to maturity4.116%May 27, 2025Yield to maturity4.006%May 30, 2025Yield to maturity3.951%Jun 4, 2025Yield to maturity3.912%Jun 9, 2025Yield to maturity4.074%Jun 12, 2025Yield to maturity3.946%Jun 17, 2025Yield to maturity3.963%Jun 23, 2025Yield to maturity3.868%Jun 26, 2025Yield to maturity3.763%Jul 1, 2025Yield to maturity3.813%Jul 7, 2025Yield to maturity3.928%Jul 10, 2025Yield to maturity3.896%Jul 15, 2025Yield to maturity4.012%Jul 18, 2025Yield to maturity3.923%Jul 23, 2025Yield to maturity3.899%Jul 28, 2025Yield to maturity3.933%Jul 31, 2025Yield to maturity3.934%Aug 5, 2025Yield to maturity3.729%Aug 8, 2025Yield to maturity3.796%Aug 13, 2025Yield to maturity3.730%Aug 18, 2025Yield to maturity3.805%Aug 21, 2025Yield to maturity3.814%Aug 26, 2025Yield to maturity3.690%Aug 29, 2025Yield to maturity3.641%Sep 4, 2025Yield to maturity3.599%Sep 9, 2025Yield to maturity3.558%Sep 12, 2025Yield to maturity3.592%Sep 17, 2025Yield to maturity3.575%Sep 22, 2025Yield to maturity3.652%Sep 25, 2025Yield to maturity3.720%Sep 30, 2025Yield to maturity3.687%Oct 3, 2025Yield to maturity3.661%Oct 8, 2025Yield to maturity3.670%Oct 14, 2025Yield to maturity3.551%Oct 17, 2025Yield to maturity3.534%Oct 22, 2025Yield to maturity3.508%Oct 27, 2025Yield to maturity3.568%Oct 30, 2025Yield to maturity3.672%Nov 4, 2025Yield to maturity3.647%Nov 7, 2025Yield to maturity3.621%Nov 13, 2025Yield to maturity3.656%Nov 18, 2025Yield to maturity3.639%Nov 21, 2025Yield to maturity3.560%Nov 26, 2025Yield to maturity3.525%Dec 2, 2025Yield to maturity3.587%Dec 5, 2025Yield to maturity3.650%Dec 10, 2025Yield to maturity3.650%Dec 15, 2025Yield to maturity3.641%Dec 18, 2025Yield to maturity3.579%Dec 23, 2025Yield to maturity3.651%Dec 29, 2025Yield to maturity3.589%Jan 2, 2026Yield to maturity3.634%Jan 7, 2026Yield to maturity3.598%Jan 12, 2026Yield to maturity3.671%Jan 15, 2026Yield to maturity3.681%Jan 21, 2026Yield to maturity3.737%Jan 26, 2026Yield to maturity3.728%Jan 29, 2026Yield to maturity3.701%Feb 3, 2026Yield to maturity3.721%Feb 6, 2026Yield to maturity3.647%Feb 11, 2026Yield to maturity3.638%Feb 17, 2026Yield to maturity3.527%Feb 20, 2026Yield to maturity3.555%Feb 25, 2026Yield to maturity3.537%Mar 2, 2026Yield to maturity3.537%Mar 5, 2026Yield to maturity3.641%Mar 10, 2026Yield to maturity3.651%Mar 13, 2026Yield to maturity3.804%Mar 18, 2026Yield to maturity3.805%Mar 23, 2026Yield to maturity3.903%Mar 26, 2026Yield to maturity4.040%Mar 31, 2026Yield to maturity3.857%Apr 3, 2026Yield to maturity3.916%Apr 8, 2026Yield to maturity3.849%Apr 13, 2026Yield to maturity3.840%Apr 16, 2026Yield to maturity3.831%Apr 21, 2026Yield to maturity3.822%Apr 24, 2026Yield to maturity3.833%Apr 29, 2026Yield to maturity3.983%May 4, 2026Yield to maturity4.015%May 7, 2026Yield to maturity3.976%May 12, 2026Yield to maturity4.058%May 15, 2026Yield to maturity4.182%May 20, 2026Yield to maturity4.142%May 26, 2026Yield to maturity4.135%May 29, 2026Yield to maturity4.086%Jun 3, 2026Yield to maturity4.160%Jun 8, 2026Yield to maturity4.235%Jun 11, 2026Yield to maturity4.133%Jun 16, 2026Yield to maturity4.104%Jun 22, 2026Yield to maturity4.264%Jun 25, 2026Yield to maturity4.140%Jun 30, 2026Yield to maturity4.163%Jul 6, 2026Yield to maturity4.156%Jul 9, 2026Yield to maturity4.210%Jul 14, 2026Yield to maturity4.245%Jul 17, 2026Yield to maturity4.227%Jul 22, 2026Yield to maturity4.357%Jul 27, 2026Yield to maturity4.372%Jul 30, 2026Yield to maturity4.309%Aug 4, 2026Yield to maturity4.269%Aug 7, 2026Yield to maturity4.272%Aug 12, 2026Yield to maturity4.285%Aug 17, 2026Yield to maturity4.277%Aug 20, 2026Yield to maturity4.279%Aug 25, 2026Yield to maturity4.272%Aug 28, 2026Yield to maturity4.419%Sep 2, 2026Yield to maturity4.467%Sep 8, 2026Yield to maturity4.483%Sep 11, 2026Yield to maturity4.725%Sep 16, 2026Yield to maturity4.820%Sep 21, 2026Yield to maturity4.826%Sep 24, 2026Yield to maturity5.003%Sep 29, 2026Yield to maturity4.998%Oct 2, 2026Yield to maturity4.969%Oct 7, 2026Yield to maturity4.914%Oct 13, 2026Yield to maturity4.922%Oct 16, 2026Yield to maturity4.822%Oct 21, 2026Yield to maturity4.896%Oct 26, 2026Yield to maturity4.795%Oct 29, 2026Yield to maturity4.728%Nov 3, 2026Yield to maturity4.686%Nov 6, 2026Yield to maturity4.584%Nov 9, 2026Yield to maturity4.609%

Price history

527 trading days to Nov 9, 2026

9596979899100101Sep 30, 2024Nov 9, 2026Sep 30, 2024Close99.625Oct 3, 2024Close99.438Oct 8, 2024Close98.375Oct 11, 2024Close98.281Oct 17, 2024Close98.219Oct 22, 2024Close97.781Oct 25, 2024Close97.500Oct 30, 2024Close97.156Nov 4, 2024Close97.063Nov 7, 2024Close97.031Nov 13, 2024Close96.500Nov 18, 2024Close96.563Nov 21, 2024Close96.500Nov 26, 2024Close96.969Dec 2, 2024Close97.406Dec 5, 2024Close97.438Dec 10, 2024Close97.375Dec 13, 2024Close96.719Dec 18, 2024Close96.125Dec 23, 2024Close95.969Dec 27, 2024Close95.938Jan 2, 2025Close96.281Jan 7, 2025Close95.938Jan 10, 2025Close95.406Jan 15, 2025Close95.969Jan 21, 2025Close96.219Jan 24, 2025Close96.094Jan 29, 2025Close96.406Feb 3, 2025Close96.438Feb 6, 2025Close96.750Feb 11, 2025Close96.375Feb 14, 2025Close96.531Feb 20, 2025Close96.500Feb 25, 2025Close97.375Feb 28, 2025Close97.781Mar 5, 2025Close97.625Mar 10, 2025Close98.031Mar 13, 2025Close97.844Mar 18, 2025Close97.656Mar 21, 2025Close97.969Mar 26, 2025Close97.625Mar 31, 2025Close98.156Apr 3, 2025Close99.031Apr 8, 2025Close98.531Apr 11, 2025Close97.438Apr 16, 2025Close98.469Apr 22, 2025Close98.188Apr 25, 2025Close98.563Apr 30, 2025Close99.219May 5, 2025Close98.344May 8, 2025Close98.094May 13, 2025Close97.594May 16, 2025Close97.844May 21, 2025Close97.563May 27, 2025Close98.000May 30, 2025Close98.219Jun 4, 2025Close98.375Jun 9, 2025Close97.750Jun 12, 2025Close98.250Jun 17, 2025Close98.188Jun 23, 2025Close98.563Jun 26, 2025Close98.969Jul 1, 2025Close98.781Jul 7, 2025Close98.344Jul 10, 2025Close98.469Jul 15, 2025Close98.031Jul 18, 2025Close98.375Jul 23, 2025Close98.469Jul 28, 2025Close98.344Jul 31, 2025Close98.344Aug 5, 2025Close99.125Aug 8, 2025Close98.875Aug 13, 2025Close99.125Aug 18, 2025Close98.844Aug 21, 2025Close98.813Aug 26, 2025Close99.281Aug 29, 2025Close99.469Sep 4, 2025Close99.625Sep 9, 2025Close99.781Sep 12, 2025Close99.656Sep 17, 2025Close99.719Sep 22, 2025Close99.438Sep 25, 2025Close99.188Sep 30, 2025Close99.313Oct 3, 2025Close99.406Oct 8, 2025Close99.375Oct 14, 2025Close99.813Oct 17, 2025Close99.875Oct 22, 2025Close99.969Oct 27, 2025Close99.750Oct 30, 2025Close99.375Nov 4, 2025Close99.469Nov 7, 2025Close99.563Nov 13, 2025Close99.438Nov 18, 2025Close99.500Nov 21, 2025Close99.781Nov 26, 2025Close99.906Dec 2, 2025Close99.688Dec 5, 2025Close99.469Dec 10, 2025Close99.469Dec 15, 2025Close99.500Dec 18, 2025Close99.719Dec 23, 2025Close99.469Dec 29, 2025Close99.688Jan 2, 2026Close99.531Jan 7, 2026Close99.656Jan 12, 2026Close99.406Jan 15, 2026Close99.375Jan 21, 2026Close99.188Jan 26, 2026Close99.219Jan 29, 2026Close99.313Feb 3, 2026Close99.250Feb 6, 2026Close99.500Feb 11, 2026Close99.531Feb 17, 2026Close99.906Feb 20, 2026Close99.813Feb 25, 2026Close99.875Mar 2, 2026Close99.875Mar 5, 2026Close99.531Mar 10, 2026Close99.500Mar 13, 2026Close99.000Mar 18, 2026Close99.000Mar 23, 2026Close98.688Mar 26, 2026Close98.250Mar 31, 2026Close98.844Apr 3, 2026Close98.656Apr 8, 2026Close98.875Apr 13, 2026Close98.906Apr 16, 2026Close98.938Apr 21, 2026Close98.969Apr 24, 2026Close98.938Apr 29, 2026Close98.469May 4, 2026Close98.375May 7, 2026Close98.500May 12, 2026Close98.250May 15, 2026Close97.875May 20, 2026Close98.000May 26, 2026Close98.031May 29, 2026Close98.188Jun 3, 2026Close97.969Jun 8, 2026Close97.750Jun 11, 2026Close98.063Jun 16, 2026Close98.156Jun 22, 2026Close97.688Jun 25, 2026Close98.063Jun 30, 2026Close98.000Jul 6, 2026Close98.031Jul 9, 2026Close97.875Jul 14, 2026Close97.781Jul 17, 2026Close97.844Jul 22, 2026Close97.469Jul 27, 2026Close97.438Jul 30, 2026Close97.625Aug 4, 2026Close97.750Aug 7, 2026Close97.750Aug 12, 2026Close97.719Aug 17, 2026Close97.750Aug 20, 2026Close97.750Aug 25, 2026Close97.781Aug 28, 2026Close97.375Sep 2, 2026Close97.250Sep 8, 2026Close97.219Sep 11, 2026Close96.563Sep 16, 2026Close96.313Sep 21, 2026Close96.313Sep 24, 2026Close95.844Sep 29, 2026Close95.875Oct 2, 2026Close95.969Oct 7, 2026Close96.125Oct 13, 2026Close96.125Oct 16, 2026Close96.406Oct 21, 2026Close96.219Oct 26, 2026Close96.500Oct 29, 2026Close96.688Nov 3, 2026Close96.813Nov 6, 2026Close97.094Nov 9, 2026Close97.031
The most recent 20 trading days of prices for 91282CLN9.
DateBidOfferClose
Nov 9, 202697.00097.01697.031
Nov 6, 202697.06397.07897.094
Nov 5, 202697.09497.10997.219
Nov 4, 202696.87596.89196.938
Nov 3, 202696.84496.85996.813
Nov 2, 202696.90696.92296.875
Oct 30, 202696.78196.81396.875
Oct 29, 202696.68896.70396.688
Oct 28, 202696.37596.39196.469
Oct 27, 202696.50096.51696.469
Oct 26, 202696.53196.54796.500
Oct 23, 202696.56396.57896.594
Oct 22, 202696.53196.54796.656
Oct 21, 202696.28196.29796.219
Oct 20, 202696.31396.32896.281
Oct 19, 202696.31396.32896.313
Oct 16, 202696.40696.42296.406
Oct 15, 202696.28196.31396.313
Oct 14, 202695.96995.98496.125
Oct 13, 202696.09496.10996.125

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 91282CLN9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 25, 2024Sep 30, 2024New issue$70.0bn$71.4bn2.38x3.519%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.