Treasury note

91282CLZ2 · 4.125% due November 30, 2031

Original term
7-Year
Maturity
Nov 30, 2031
Coupon
4.125%
Pays
Semi-Annual
Dated
Nov 30, 2024
First coupon
May 31, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$46.91bn
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, November 9, 2026

Yield to maturity
4.693%
Modified duration
4.419 yr
DV01
0.0439
Convexity
0.232
Dirty price
99.306

Where its rate sensitivity sits

<.01
0.01
0.03
0.08
0.18
4.11
0.11
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 7 of twelve buckets, summing to 4.522 years against a modified duration of 4.419.

Against the fitted curve

Priced 0.9 bp cheap to the curve on that day, 3.92 cents per 100 of face.

That is 0.19 standard deviations from its own typical residual.

Yield to maturity, 485 observations

3.50%3.75%4.00%4.25%4.50%4.75%5.00%5.25%Dec 2, 2024Nov 9, 2026Dec 2, 2024Yield to maturity4.130%Dec 5, 2024Yield to maturity4.120%Dec 10, 2024Yield to maturity4.151%Dec 13, 2024Yield to maturity4.329%Dec 18, 2024Yield to maturity4.452%Dec 23, 2024Yield to maturity4.522%Dec 27, 2024Yield to maturity4.539%Jan 2, 2025Yield to maturity4.469%Jan 7, 2025Yield to maturity4.573%Jan 10, 2025Yield to maturity4.699%Jan 15, 2025Yield to maturity4.557%Jan 21, 2025Yield to maturity4.482%Jan 24, 2025Yield to maturity4.532%Jan 29, 2025Yield to maturity4.451%Feb 3, 2025Yield to maturity4.446%Feb 6, 2025Yield to maturity4.360%Feb 11, 2025Yield to maturity4.452%Feb 14, 2025Yield to maturity4.404%Feb 20, 2025Yield to maturity4.426%Feb 25, 2025Yield to maturity4.210%Feb 28, 2025Yield to maturity4.129%Mar 5, 2025Yield to maturity4.178%Mar 10, 2025Yield to maturity4.097%Mar 13, 2025Yield to maturity4.146%Mar 18, 2025Yield to maturity4.173%Mar 21, 2025Yield to maturity4.113%Mar 26, 2025Yield to maturity4.205%Mar 31, 2025Yield to maturity4.076%Apr 3, 2025Yield to maturity3.877%Apr 8, 2025Yield to maturity4.043%Apr 11, 2025Yield to maturity4.316%Apr 16, 2025Yield to maturity4.059%Apr 22, 2025Yield to maturity4.168%Apr 25, 2025Yield to maturity4.054%Apr 30, 2025Yield to maturity3.907%May 5, 2025Yield to maturity4.114%May 8, 2025Yield to maturity4.163%May 13, 2025Yield to maturity4.285%May 16, 2025Yield to maturity4.219%May 21, 2025Yield to maturity4.330%May 27, 2025Yield to maturity4.191%May 30, 2025Yield to maturity4.147%Jun 4, 2025Yield to maturity4.103%Jun 9, 2025Yield to maturity4.253%Jun 12, 2025Yield to maturity4.114%Jun 17, 2025Yield to maturity4.136%Jun 23, 2025Yield to maturity4.058%Jun 26, 2025Yield to maturity3.958%Jul 1, 2025Yield to maturity3.985%Jul 7, 2025Yield to maturity4.113%Jul 10, 2025Yield to maturity4.079%Jul 15, 2025Yield to maturity4.209%Jul 18, 2025Yield to maturity4.124%Jul 23, 2025Yield to maturity4.096%Jul 28, 2025Yield to maturity4.130%Jul 31, 2025Yield to maturity4.096%Aug 5, 2025Yield to maturity3.910%Aug 8, 2025Yield to maturity3.977%Aug 13, 2025Yield to maturity3.915%Aug 18, 2025Yield to maturity4.011%Aug 21, 2025Yield to maturity4.005%Aug 26, 2025Yield to maturity3.903%Aug 29, 2025Yield to maturity3.852%Sep 4, 2025Yield to maturity3.795%Sep 9, 2025Yield to maturity3.738%Sep 12, 2025Yield to maturity3.749%Sep 17, 2025Yield to maturity3.748%Sep 22, 2025Yield to maturity3.832%Sep 25, 2025Yield to maturity3.883%Sep 30, 2025Yield to maturity3.860%Oct 3, 2025Yield to maturity3.831%Oct 8, 2025Yield to maturity3.842%Oct 14, 2025Yield to maturity3.722%Oct 17, 2025Yield to maturity3.710%Oct 22, 2025Yield to maturity3.669%Oct 27, 2025Yield to maturity3.725%Oct 30, 2025Yield to maturity3.828%Nov 4, 2025Yield to maturity3.805%Nov 7, 2025Yield to maturity3.787%Nov 13, 2025Yield to maturity3.809%Nov 18, 2025Yield to maturity3.803%Nov 21, 2025Yield to maturity3.727%Nov 26, 2025Yield to maturity3.675%Dec 2, 2025Yield to maturity3.761%Dec 5, 2025Yield to maturity3.818%Dec 10, 2025Yield to maturity3.830%Dec 15, 2025Yield to maturity3.841%Dec 18, 2025Yield to maturity3.776%Dec 23, 2025Yield to maturity3.845%Dec 29, 2025Yield to maturity3.774%Jan 2, 2026Yield to maturity3.844%Jan 7, 2026Yield to maturity3.796%Jan 12, 2026Yield to maturity3.861%Jan 15, 2026Yield to maturity3.860%Jan 21, 2026Yield to maturity3.937%Jan 26, 2026Yield to maturity3.913%Jan 29, 2026Yield to maturity3.907%Feb 3, 2026Yield to maturity3.930%Feb 6, 2026Yield to maturity3.857%Feb 11, 2026Yield to maturity3.839%Feb 17, 2026Yield to maturity3.712%Feb 20, 2026Yield to maturity3.741%Feb 25, 2026Yield to maturity3.705%Mar 2, 2026Yield to maturity3.704%Mar 5, 2026Yield to maturity3.806%Mar 10, 2026Yield to maturity3.811%Mar 13, 2026Yield to maturity3.957%Mar 18, 2026Yield to maturity3.945%Mar 23, 2026Yield to maturity4.043%Mar 26, 2026Yield to maturity4.168%Mar 31, 2026Yield to maturity4.006%Apr 3, 2026Yield to maturity4.068%Apr 8, 2026Yield to maturity3.993%Apr 13, 2026Yield to maturity3.993%Apr 16, 2026Yield to maturity3.987%Apr 21, 2026Yield to maturity3.980%Apr 24, 2026Yield to maturity3.986%Apr 29, 2026Yield to maturity4.124%May 4, 2026Yield to maturity4.150%May 7, 2026Yield to maturity4.106%May 12, 2026Yield to maturity4.182%May 15, 2026Yield to maturity4.310%May 20, 2026Yield to maturity4.279%May 26, 2026Yield to maturity4.234%May 29, 2026Yield to maturity4.183%Jun 3, 2026Yield to maturity4.254%Jun 8, 2026Yield to maturity4.325%Jun 11, 2026Yield to maturity4.215%Jun 16, 2026Yield to maturity4.183%Jun 22, 2026Yield to maturity4.320%Jun 25, 2026Yield to maturity4.189%Jun 30, 2026Yield to maturity4.222%Jul 6, 2026Yield to maturity4.242%Jul 9, 2026Yield to maturity4.301%Jul 14, 2026Yield to maturity4.341%Jul 17, 2026Yield to maturity4.309%Jul 22, 2026Yield to maturity4.442%Jul 27, 2026Yield to maturity4.436%Jul 30, 2026Yield to maturity4.416%Aug 4, 2026Yield to maturity4.363%Aug 7, 2026Yield to maturity4.377%Aug 12, 2026Yield to maturity4.404%Aug 17, 2026Yield to maturity4.412%Aug 20, 2026Yield to maturity4.412%Aug 25, 2026Yield to maturity4.379%Aug 28, 2026Yield to maturity4.515%Sep 2, 2026Yield to maturity4.578%Sep 8, 2026Yield to maturity4.593%Sep 11, 2026Yield to maturity4.802%Sep 16, 2026Yield to maturity4.887%Sep 21, 2026Yield to maturity4.854%Sep 24, 2026Yield to maturity5.060%Sep 29, 2026Yield to maturity5.083%Oct 2, 2026Yield to maturity5.086%Oct 7, 2026Yield to maturity5.051%Oct 13, 2026Yield to maturity5.033%Oct 16, 2026Yield to maturity4.913%Oct 21, 2026Yield to maturity4.979%Oct 26, 2026Yield to maturity4.859%Oct 29, 2026Yield to maturity4.810%Nov 3, 2026Yield to maturity4.762%Nov 6, 2026Yield to maturity4.664%Nov 9, 2026Yield to maturity4.693%

Price history

485 trading days to Nov 9, 2026

949698100102104Dec 2, 2024Nov 9, 2026Dec 2, 2024Close99.969Dec 5, 2024Close100.031Dec 10, 2024Close99.844Dec 13, 2024Close98.781Dec 18, 2024Close98.063Dec 23, 2024Close97.656Dec 27, 2024Close97.563Jan 2, 2025Close97.969Jan 7, 2025Close97.375Jan 10, 2025Close96.656Jan 15, 2025Close97.469Jan 21, 2025Close97.906Jan 24, 2025Close97.625Jan 29, 2025Close98.094Feb 3, 2025Close98.125Feb 6, 2025Close98.625Feb 11, 2025Close98.094Feb 14, 2025Close98.375Feb 20, 2025Close98.250Feb 25, 2025Close99.500Feb 28, 2025Close99.969Mar 5, 2025Close99.688Mar 10, 2025Close100.156Mar 13, 2025Close99.875Mar 18, 2025Close99.719Mar 21, 2025Close100.063Mar 26, 2025Close99.531Mar 31, 2025Close100.281Apr 3, 2025Close101.438Apr 8, 2025Close100.469Apr 11, 2025Close98.906Apr 16, 2025Close100.375Apr 22, 2025Close99.750Apr 25, 2025Close100.406Apr 30, 2025Close101.250May 5, 2025Close100.063May 8, 2025Close99.781May 13, 2025Close99.094May 16, 2025Close99.469May 21, 2025Close98.844May 27, 2025Close99.625May 30, 2025Close99.875Jun 4, 2025Close100.125Jun 9, 2025Close99.281Jun 12, 2025Close100.063Jun 17, 2025Close99.938Jun 23, 2025Close100.375Jun 26, 2025Close100.938Jul 1, 2025Close100.781Jul 7, 2025Close100.063Jul 10, 2025Close100.250Jul 15, 2025Close99.531Jul 18, 2025Close100.000Jul 23, 2025Close100.156Jul 28, 2025Close99.969Jul 31, 2025Close100.156Aug 5, 2025Close101.188Aug 8, 2025Close100.813Aug 13, 2025Close101.156Aug 18, 2025Close100.625Aug 21, 2025Close100.656Aug 26, 2025Close101.219Aug 29, 2025Close101.500Sep 4, 2025Close101.813Sep 9, 2025Close102.125Sep 12, 2025Close102.063Sep 17, 2025Close102.063Sep 22, 2025Close101.594Sep 25, 2025Close101.313Sep 30, 2025Close101.438Oct 3, 2025Close101.594Oct 8, 2025Close101.531Oct 14, 2025Close102.188Oct 17, 2025Close102.250Oct 22, 2025Close102.469Oct 27, 2025Close102.156Oct 30, 2025Close101.594Nov 4, 2025Close101.719Nov 7, 2025Close101.813Nov 13, 2025Close101.688Nov 18, 2025Close101.719Nov 21, 2025Close102.125Nov 26, 2025Close102.406Dec 2, 2025Close101.938Dec 5, 2025Close101.625Dec 10, 2025Close101.563Dec 15, 2025Close101.500Dec 18, 2025Close101.844Dec 23, 2025Close101.469Dec 29, 2025Close101.844Jan 2, 2026Close101.469Jan 7, 2026Close101.719Jan 12, 2026Close101.375Jan 15, 2026Close101.375Jan 21, 2026Close100.969Jan 26, 2026Close101.094Jan 29, 2026Close101.125Feb 3, 2026Close101.000Feb 6, 2026Close101.375Feb 11, 2026Close101.469Feb 17, 2026Close102.125Feb 20, 2026Close101.969Feb 25, 2026Close102.156Mar 2, 2026Close102.156Mar 5, 2026Close101.625Mar 10, 2026Close101.594Mar 13, 2026Close100.844Mar 18, 2026Close100.906Mar 23, 2026Close100.406Mar 26, 2026Close99.781Mar 31, 2026Close100.594Apr 3, 2026Close100.281Apr 8, 2026Close100.656Apr 13, 2026Close100.656Apr 16, 2026Close100.688Apr 21, 2026Close100.719Apr 24, 2026Close100.688Apr 29, 2026Close100.000May 4, 2026Close99.875May 7, 2026Close100.094May 12, 2026Close99.719May 15, 2026Close99.094May 20, 2026Close99.250May 26, 2026Close99.469May 29, 2026Close99.719Jun 3, 2026Close99.375Jun 8, 2026Close99.031Jun 11, 2026Close99.563Jun 16, 2026Close99.719Jun 22, 2026Close99.063Jun 25, 2026Close99.688Jun 30, 2026Close99.531Jul 6, 2026Close99.438Jul 9, 2026Close99.156Jul 14, 2026Close98.969Jul 17, 2026Close99.125Jul 22, 2026Close98.500Jul 27, 2026Close98.531Jul 30, 2026Close98.625Aug 4, 2026Close98.875Aug 7, 2026Close98.813Aug 12, 2026Close98.688Aug 17, 2026Close98.656Aug 20, 2026Close98.656Aug 25, 2026Close98.813Aug 28, 2026Close98.188Sep 2, 2026Close97.906Sep 8, 2026Close97.844Sep 11, 2026Close96.906Sep 16, 2026Close96.531Sep 21, 2026Close96.688Sep 24, 2026Close95.781Sep 29, 2026Close95.688Oct 2, 2026Close95.688Oct 7, 2026Close95.844Oct 13, 2026Close95.938Oct 16, 2026Close96.469Oct 21, 2026Close96.188Oct 26, 2026Close96.719Oct 29, 2026Close96.938Nov 3, 2026Close97.156Nov 6, 2026Close97.594Nov 9, 2026Close97.469
The most recent 20 trading days of prices for 91282CLZ2.
DateBidOfferClose
Nov 9, 202697.46997.48497.469
Nov 6, 202697.56397.57897.594
Nov 5, 202697.65697.67297.781
Nov 4, 202697.31397.32897.406
Nov 3, 202697.21997.23497.156
Nov 2, 202697.37597.40697.313
Oct 30, 202697.12597.14197.250
Oct 29, 202696.93896.95396.938
Oct 28, 202696.56396.57896.594
Oct 27, 202696.75096.76696.719
Oct 26, 202696.75096.78196.719
Oct 23, 202696.78196.79796.813
Oct 22, 202696.71996.73496.938
Oct 21, 202696.28196.31396.188
Oct 20, 202696.34496.35996.250
Oct 19, 202696.28196.29796.219
Oct 16, 202696.46996.48496.469
Oct 15, 202696.34496.35996.344
Oct 14, 202695.68895.70395.969
Oct 13, 202695.90695.92295.938

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 91282CLZ2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 27, 2024Dec 2, 2024New issue$44.0bn$47.0bn2.71x4.183%

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.