Treasury note

91282CLX7 · 4.125% due November 15, 2027

Original term
3-Year
Maturity
Nov 15, 2027
Coupon
4.125%
Pays
Semi-Annual
Dated
Nov 15, 2024
First coupon
May 15, 2025
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$70.88bn
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, October 20, 2026

Yield to maturity
4.607%
Modified duration
1.014 yr
DV01
0.0103
Convexity
0.0155
Dirty price
101.282

Where its rate sensitivity sits

<.01
0.01
0.96
0.07
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 4 of twelve buckets, summing to 1.038 years against a modified duration of 1.014.

Against the fitted curve

Priced 0.1 bp cheap to the curve on that day, 0.11 cents per 100 of face.

That is -0.05 standard deviations from its own typical residual.

Yield to maturity, 482 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Nov 15, 2024Oct 20, 2026Nov 15, 2024Yield to maturity4.271%Nov 20, 2024Yield to maturity4.260%Nov 25, 2024Yield to maturity4.215%Nov 29, 2024Yield to maturity4.102%Dec 4, 2024Yield to maturity4.090%Dec 9, 2024Yield to maturity4.090%Dec 12, 2024Yield to maturity4.170%Dec 17, 2024Yield to maturity4.228%Dec 20, 2024Yield to maturity4.321%Dec 26, 2024Yield to maturity4.356%Dec 31, 2024Yield to maturity4.287%Jan 6, 2025Yield to maturity4.323%Jan 9, 2025Yield to maturity4.335%Jan 14, 2025Yield to maturity4.455%Jan 17, 2025Yield to maturity4.326%Jan 23, 2025Yield to maturity4.338%Jan 28, 2025Yield to maturity4.243%Jan 31, 2025Yield to maturity4.267%Feb 5, 2025Yield to maturity4.195%Feb 10, 2025Yield to maturity4.293%Feb 13, 2025Yield to maturity4.330%Feb 19, 2025Yield to maturity4.294%Feb 24, 2025Yield to maturity4.172%Feb 27, 2025Yield to maturity4.062%Mar 4, 2025Yield to maturity3.963%Mar 7, 2025Yield to maturity4.011%Mar 12, 2025Yield to maturity3.999%Mar 17, 2025Yield to maturity4.048%Mar 20, 2025Yield to maturity3.948%Mar 25, 2025Yield to maturity3.997%Mar 28, 2025Yield to maturity3.921%Apr 2, 2025Yield to maturity3.908%Apr 7, 2025Yield to maturity3.742%Apr 10, 2025Yield to maturity3.881%Apr 15, 2025Yield to maturity3.867%Apr 18, 2025Yield to maturity3.815%Apr 23, 2025Yield to maturity3.878%Apr 28, 2025Yield to maturity3.683%May 1, 2025Yield to maturity3.695%May 6, 2025Yield to maturity3.784%May 9, 2025Yield to maturity3.887%May 14, 2025Yield to maturity4.059%May 19, 2025Yield to maturity3.965%May 22, 2025Yield to maturity3.991%May 28, 2025Yield to maturity3.976%Jun 2, 2025Yield to maturity3.935%Jun 5, 2025Yield to maturity3.921%Jun 10, 2025Yield to maturity4.001%Jun 13, 2025Yield to maturity3.932%Jun 18, 2025Yield to maturity3.917%Jun 24, 2025Yield to maturity3.778%Jun 27, 2025Yield to maturity3.749%Jul 2, 2025Yield to maturity3.789%Jul 8, 2025Yield to maturity3.898%Jul 11, 2025Yield to maturity3.883%Jul 16, 2025Yield to maturity3.868%Jul 21, 2025Yield to maturity3.824%Jul 24, 2025Yield to maturity3.894%Jul 29, 2025Yield to maturity3.850%Aug 1, 2025Yield to maturity3.690%Aug 6, 2025Yield to maturity3.674%Aug 11, 2025Yield to maturity3.744%Aug 14, 2025Yield to maturity3.714%Aug 19, 2025Yield to maturity3.726%Aug 22, 2025Yield to maturity3.665%Aug 27, 2025Yield to maturity3.619%Sep 2, 2025Yield to maturity3.660%Sep 5, 2025Yield to maturity3.509%Sep 10, 2025Yield to maturity3.536%Sep 15, 2025Yield to maturity3.533%Sep 18, 2025Yield to maturity3.561%Sep 23, 2025Yield to maturity3.573%Sep 26, 2025Yield to maturity3.661%Oct 1, 2025Yield to maturity3.552%Oct 6, 2025Yield to maturity3.611%Oct 9, 2025Yield to maturity3.593%Oct 15, 2025Yield to maturity3.511%Oct 20, 2025Yield to maturity3.461%Oct 23, 2025Yield to maturity3.490%Oct 28, 2025Yield to maturity3.502%Oct 31, 2025Yield to maturity3.594%Nov 5, 2025Yield to maturity3.624%Nov 10, 2025Yield to maturity3.588%Nov 14, 2025Yield to maturity3.617%Nov 19, 2025Yield to maturity3.582%Nov 24, 2025Yield to maturity3.496%Nov 28, 2025Yield to maturity3.507%Dec 3, 2025Yield to maturity3.505%Dec 8, 2025Yield to maturity3.601%Dec 11, 2025Yield to maturity3.531%Dec 16, 2025Yield to maturity3.493%Dec 19, 2025Yield to maturity3.488%Dec 24, 2025Yield to maturity3.536%Dec 30, 2025Yield to maturity3.463%Jan 5, 2026Yield to maturity3.457%Jan 8, 2026Yield to maturity3.506%Jan 13, 2026Yield to maturity3.537%Jan 16, 2026Yield to maturity3.603%Jan 22, 2026Yield to maturity3.619%Jan 27, 2026Yield to maturity3.579%Jan 30, 2026Yield to maturity3.538%Feb 4, 2026Yield to maturity3.572%Feb 9, 2026Yield to maturity3.495%Feb 12, 2026Yield to maturity3.473%Feb 18, 2026Yield to maturity3.486%Feb 23, 2026Yield to maturity3.462%Feb 26, 2026Yield to maturity3.478%Mar 3, 2026Yield to maturity3.530%Mar 6, 2026Yield to maturity3.583%Mar 11, 2026Yield to maturity3.657%Mar 16, 2026Yield to maturity3.712%Mar 19, 2026Yield to maturity3.827%Mar 24, 2026Yield to maturity3.964%Mar 27, 2026Yield to maturity3.962%Apr 1, 2026Yield to maturity3.841%Apr 6, 2026Yield to maturity3.880%Apr 9, 2026Yield to maturity3.818%Apr 14, 2026Yield to maturity3.795%Apr 17, 2026Yield to maturity3.730%Apr 22, 2026Yield to maturity3.811%Apr 27, 2026Yield to maturity3.809%Apr 30, 2026Yield to maturity3.871%May 5, 2026Yield to maturity3.933%May 8, 2026Yield to maturity3.888%May 13, 2026Yield to maturity3.952%May 18, 2026Yield to maturity4.037%May 21, 2026Yield to maturity4.037%May 27, 2026Yield to maturity3.991%Jun 1, 2026Yield to maturity4.012%Jun 4, 2026Yield to maturity4.011%Jun 9, 2026Yield to maturity4.100%Jun 12, 2026Yield to maturity4.054%Jun 17, 2026Yield to maturity4.192%Jun 23, 2026Yield to maturity4.192%Jun 26, 2026Yield to maturity4.099%Jul 1, 2026Yield to maturity4.193%Jul 7, 2026Yield to maturity4.194%Jul 10, 2026Yield to maturity4.194%Jul 15, 2026Yield to maturity4.121%Jul 20, 2026Yield to maturity4.170%Jul 23, 2026Yield to maturity4.319%Jul 28, 2026Yield to maturity4.246%Jul 31, 2026Yield to maturity4.247%Aug 5, 2026Yield to maturity4.146%Aug 10, 2026Yield to maturity4.198%Aug 13, 2026Yield to maturity4.095%Aug 18, 2026Yield to maturity4.121%Aug 21, 2026Yield to maturity4.147%Aug 26, 2026Yield to maturity4.147%Aug 31, 2026Yield to maturity4.282%Sep 3, 2026Yield to maturity4.256%Sep 9, 2026Yield to maturity4.313%Sep 14, 2026Yield to maturity4.510%Sep 17, 2026Yield to maturity4.541%Sep 22, 2026Yield to maturity4.574%Sep 25, 2026Yield to maturity4.695%Sep 30, 2026Yield to maturity4.670%Oct 5, 2026Yield to maturity4.618%Oct 8, 2026Yield to maturity4.563%Oct 14, 2026Yield to maturity4.660%Oct 19, 2026Yield to maturity4.606%Oct 20, 2026Yield to maturity4.607%

Price history

482 trading days to Oct 20, 2026

99.099.5100.0100.5101.0101.5Nov 15, 2024Oct 20, 2026Nov 15, 2024Close99.594Nov 20, 2024Close99.625Nov 25, 2024Close99.750Nov 29, 2024Close100.063Dec 4, 2024Close100.094Dec 9, 2024Close100.094Dec 12, 2024Close99.875Dec 17, 2024Close99.719Dec 20, 2024Close99.469Dec 26, 2024Close99.375Dec 31, 2024Close99.563Jan 6, 2025Close99.469Jan 9, 2025Close99.438Jan 14, 2025Close99.125Jan 17, 2025Close99.469Jan 23, 2025Close99.438Jan 28, 2025Close99.688Jan 31, 2025Close99.625Feb 5, 2025Close99.813Feb 10, 2025Close99.563Feb 13, 2025Close99.469Feb 19, 2025Close99.563Feb 24, 2025Close99.875Feb 27, 2025Close100.156Mar 4, 2025Close100.406Mar 7, 2025Close100.281Mar 12, 2025Close100.313Mar 17, 2025Close100.188Mar 20, 2025Close100.438Mar 25, 2025Close100.313Mar 28, 2025Close100.500Apr 2, 2025Close100.531Apr 7, 2025Close100.938Apr 10, 2025Close100.594Apr 15, 2025Close100.625Apr 18, 2025Close100.750Apr 23, 2025Close100.594Apr 28, 2025Close101.063May 1, 2025Close101.031May 6, 2025Close100.813May 9, 2025Close100.563May 14, 2025Close100.156May 19, 2025Close100.375May 22, 2025Close100.313May 28, 2025Close100.344Jun 2, 2025Close100.438Jun 5, 2025Close100.469Jun 10, 2025Close100.281Jun 13, 2025Close100.438Jun 18, 2025Close100.469Jun 24, 2025Close100.781Jun 27, 2025Close100.844Jul 2, 2025Close100.750Jul 8, 2025Close100.500Jul 11, 2025Close100.531Jul 16, 2025Close100.563Jul 21, 2025Close100.656Jul 24, 2025Close100.500Jul 29, 2025Close100.594Aug 1, 2025Close100.938Aug 6, 2025Close100.969Aug 11, 2025Close100.813Aug 14, 2025Close100.875Aug 19, 2025Close100.844Aug 22, 2025Close100.969Aug 27, 2025Close101.063Sep 2, 2025Close100.969Sep 5, 2025Close101.281Sep 10, 2025Close101.219Sep 15, 2025Close101.219Sep 18, 2025Close101.156Sep 23, 2025Close101.125Sep 26, 2025Close100.938Oct 1, 2025Close101.156Oct 6, 2025Close101.031Oct 9, 2025Close101.063Oct 15, 2025Close101.219Oct 20, 2025Close101.313Oct 23, 2025Close101.250Oct 28, 2025Close101.219Oct 31, 2025Close101.031Nov 5, 2025Close100.969Nov 10, 2025Close101.031Nov 14, 2025Close100.969Nov 19, 2025Close101.031Nov 24, 2025Close101.188Nov 28, 2025Close101.156Dec 3, 2025Close101.156Dec 8, 2025Close100.969Dec 11, 2025Close101.094Dec 16, 2025Close101.156Dec 19, 2025Close101.156Dec 24, 2025Close101.063Dec 30, 2025Close101.188Jan 5, 2026Close101.188Jan 8, 2026Close101.094Jan 13, 2026Close101.031Jan 16, 2026Close100.906Jan 22, 2026Close100.875Jan 27, 2026Close100.938Jan 30, 2026Close101.000Feb 4, 2026Close100.938Feb 9, 2026Close101.063Feb 12, 2026Close101.094Feb 18, 2026Close101.063Feb 23, 2026Close101.094Feb 26, 2026Close101.063Mar 3, 2026Close100.969Mar 6, 2026Close100.875Mar 11, 2026Close100.750Mar 16, 2026Close100.656Mar 19, 2026Close100.469Mar 24, 2026Close100.250Mar 27, 2026Close100.250Apr 1, 2026Close100.438Apr 6, 2026Close100.375Apr 9, 2026Close100.469Apr 14, 2026Close100.500Apr 17, 2026Close100.594Apr 22, 2026Close100.469Apr 27, 2026Close100.469Apr 30, 2026Close100.375May 5, 2026Close100.281May 8, 2026Close100.344May 13, 2026Close100.250May 18, 2026Close100.125May 21, 2026Close100.125May 27, 2026Close100.188Jun 1, 2026Close100.156Jun 4, 2026Close100.156Jun 9, 2026Close100.031Jun 12, 2026Close100.094Jun 17, 2026Close99.906Jun 23, 2026Close99.906Jun 26, 2026Close100.031Jul 1, 2026Close99.906Jul 7, 2026Close99.906Jul 10, 2026Close99.906Jul 15, 2026Close100.000Jul 20, 2026Close99.938Jul 23, 2026Close99.750Jul 28, 2026Close99.844Jul 31, 2026Close99.844Aug 5, 2026Close99.969Aug 10, 2026Close99.906Aug 13, 2026Close100.031Aug 18, 2026Close100.000Aug 21, 2026Close99.969Aug 26, 2026Close99.969Aug 31, 2026Close99.813Sep 3, 2026Close99.844Sep 9, 2026Close99.781Sep 14, 2026Close99.563Sep 17, 2026Close99.531Sep 22, 2026Close99.500Sep 25, 2026Close99.375Sep 30, 2026Close99.406Oct 5, 2026Close99.469Oct 8, 2026Close99.531Oct 14, 2026Close99.438Oct 19, 2026Close99.500Oct 20, 2026Close99.500
The most recent 20 trading days of prices for 91282CLX7.
DateBidOfferClose
Oct 20, 202699.51699.50099.500
Oct 19, 202699.51699.50099.500
Oct 16, 202699.54799.53199.500
Oct 15, 202699.50099.46999.500
Oct 14, 202699.42299.40699.438
Oct 13, 202699.48499.46999.469
Oct 9, 202699.48499.46999.500
Oct 8, 202699.50099.50099.531
Oct 7, 202699.51699.50099.531
Oct 6, 202699.51699.50099.500
Oct 5, 202699.46999.43899.469
Oct 2, 202699.50099.46999.438
Oct 1, 202699.48499.46999.500
Sep 30, 202699.42299.40699.406
Sep 29, 202699.32899.31399.375
Sep 28, 202699.34499.31399.313
Sep 25, 202699.39199.37599.375
Sep 24, 202699.39199.37599.375
Sep 23, 202699.42299.40699.375
Sep 22, 202699.50099.46999.500

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 91282CLX7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 4, 2024Nov 15, 2024New issue$58.0bn$72.1bn2.60x4.152%

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.