Treasury note

91282CMB4 · 4% due December 15, 2027

Original term
3-Year
Maturity
Dec 15, 2027
Coupon
4.000%
Pays
Semi-Annual
Dated
Dec 15, 2024
First coupon
Jun 15, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$58.39bn
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
4.469%
Modified duration
1.043 yr
DV01
0.0105
Convexity
0.0162
Dirty price
101.117

Where its rate sensitivity sits

<.01
0.01
0.95
0.10
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 1.067 years against a modified duration of 1.043.

Against the fitted curve

Priced 1.8 bp cheap to the curve on that day, 1.94 cents per 100 of face.

That is 0.93 standard deviations from its own typical residual.

Yield to maturity, 475 observations

3.25%3.50%3.75%4.00%4.25%4.50%4.75%5.00%Dec 16, 2024Nov 9, 2026Dec 16, 2024Yield to maturity4.224%Dec 18, 2024Yield to maturity4.349%Dec 20, 2024Yield to maturity4.316%Dec 24, 2024Yield to maturity4.362%Dec 27, 2024Yield to maturity4.363%Dec 31, 2024Yield to maturity4.273%Jan 3, 2025Yield to maturity4.319%Jan 7, 2025Yield to maturity4.343%Jan 9, 2025Yield to maturity4.320%Jan 13, 2025Yield to maturity4.484%Jan 15, 2025Yield to maturity4.333%Jan 17, 2025Yield to maturity4.323%Jan 22, 2025Yield to maturity4.324%Jan 24, 2025Yield to maturity4.325%Jan 28, 2025Yield to maturity4.232%Jan 30, 2025Yield to maturity4.220%Feb 3, 2025Yield to maturity4.280%Feb 5, 2025Yield to maturity4.186%Feb 7, 2025Yield to maturity4.293%Feb 11, 2025Yield to maturity4.294%Feb 13, 2025Yield to maturity4.330%Feb 18, 2025Yield to maturity4.319%Feb 20, 2025Yield to maturity4.272%Feb 24, 2025Yield to maturity4.165%Feb 26, 2025Yield to maturity4.046%Feb 28, 2025Yield to maturity3.986%Mar 4, 2025Yield to maturity3.950%Mar 6, 2025Yield to maturity3.974%Mar 10, 2025Yield to maturity3.902%Mar 12, 2025Yield to maturity3.986%Mar 14, 2025Yield to maturity4.010%Mar 18, 2025Yield to maturity4.010%Mar 20, 2025Yield to maturity3.937%Mar 24, 2025Yield to maturity4.010%Mar 26, 2025Yield to maturity4.010%Mar 28, 2025Yield to maturity3.900%Apr 1, 2025Yield to maturity3.851%Apr 3, 2025Yield to maturity3.691%Apr 7, 2025Yield to maturity3.727%Apr 9, 2025Yield to maturity3.924%Apr 11, 2025Yield to maturity3.986%Apr 15, 2025Yield to maturity3.836%Apr 17, 2025Yield to maturity3.799%Apr 22, 2025Yield to maturity3.798%Apr 24, 2025Yield to maturity3.773%Apr 28, 2025Yield to maturity3.659%Apr 30, 2025Yield to maturity3.571%May 2, 2025Yield to maturity3.808%May 6, 2025Yield to maturity3.758%May 8, 2025Yield to maturity3.871%May 12, 2025Yield to maturity3.973%May 14, 2025Yield to maturity4.050%May 16, 2025Yield to maturity3.960%May 20, 2025Yield to maturity3.947%May 22, 2025Yield to maturity3.973%May 27, 2025Yield to maturity3.934%May 29, 2025Yield to maturity3.921%Jun 2, 2025Yield to maturity3.908%Jun 4, 2025Yield to maturity3.842%Jun 6, 2025Yield to maturity4.013%Jun 10, 2025Yield to maturity3.973%Jun 12, 2025Yield to maturity3.868%Jun 16, 2025Yield to maturity3.934%Jun 18, 2025Yield to maturity3.893%Jun 23, 2025Yield to maturity3.799%Jun 25, 2025Yield to maturity3.746%Jun 27, 2025Yield to maturity3.731%Jul 1, 2025Yield to maturity3.757%Jul 3, 2025Yield to maturity3.850%Jul 8, 2025Yield to maturity3.877%Jul 10, 2025Yield to maturity3.836%Jul 14, 2025Yield to maturity3.862%Jul 16, 2025Yield to maturity3.862%Jul 18, 2025Yield to maturity3.834%Jul 22, 2025Yield to maturity3.778%Jul 24, 2025Yield to maturity3.874%Jul 28, 2025Yield to maturity3.874%Jul 30, 2025Yield to maturity3.901%Aug 1, 2025Yield to maturity3.678%Aug 5, 2025Yield to maturity3.677%Aug 7, 2025Yield to maturity3.704%Aug 11, 2025Yield to maturity3.731%Aug 13, 2025Yield to maturity3.646%Aug 15, 2025Yield to maturity3.715%Aug 19, 2025Yield to maturity3.714%Aug 21, 2025Yield to maturity3.742%Aug 25, 2025Yield to maturity3.684%Aug 27, 2025Yield to maturity3.612%Aug 29, 2025Yield to maturity3.596%Sep 3, 2025Yield to maturity3.595%Sep 5, 2025Yield to maturity3.492%Sep 9, 2025Yield to maturity3.520%Sep 11, 2025Yield to maturity3.504%Sep 15, 2025Yield to maturity3.516%Sep 17, 2025Yield to maturity3.515%Sep 19, 2025Yield to maturity3.557%Sep 23, 2025Yield to maturity3.570%Sep 25, 2025Yield to maturity3.658%Sep 29, 2025Yield to maturity3.626%Oct 1, 2025Yield to maturity3.537%Oct 3, 2025Yield to maturity3.564%Oct 7, 2025Yield to maturity3.563%Oct 9, 2025Yield to maturity3.592%Oct 14, 2025Yield to maturity3.470%Oct 16, 2025Yield to maturity3.408%Oct 20, 2025Yield to maturity3.451%Oct 22, 2025Yield to maturity3.434%Oct 24, 2025Yield to maturity3.462%Oct 28, 2025Yield to maturity3.476%Oct 30, 2025Yield to maturity3.597%Nov 3, 2025Yield to maturity3.596%Nov 5, 2025Yield to maturity3.625%Nov 7, 2025Yield to maturity3.546%Nov 12, 2025Yield to maturity3.560%Nov 14, 2025Yield to maturity3.605%Nov 18, 2025Yield to maturity3.557%Nov 20, 2025Yield to maturity3.540%Nov 24, 2025Yield to maturity3.475%Nov 26, 2025Yield to maturity3.473%Dec 1, 2025Yield to maturity3.534%Dec 3, 2025Yield to maturity3.485%Dec 5, 2025Yield to maturity3.563%Dec 9, 2025Yield to maturity3.610%Dec 11, 2025Yield to maturity3.528%Dec 15, 2025Yield to maturity3.510%Dec 17, 2025Yield to maturity3.492%Dec 19, 2025Yield to maturity3.473%Dec 23, 2025Yield to maturity3.537%Dec 26, 2025Yield to maturity3.484%Dec 30, 2025Yield to maturity3.450%Jan 2, 2026Yield to maturity3.479%Jan 6, 2026Yield to maturity3.477%Jan 8, 2026Yield to maturity3.493%Jan 12, 2026Yield to maturity3.540%Jan 14, 2026Yield to maturity3.522%Jan 16, 2026Yield to maturity3.604%Jan 21, 2026Yield to maturity3.586%Jan 23, 2026Yield to maturity3.600%Jan 27, 2026Yield to maturity3.565%Jan 29, 2026Yield to maturity3.546%Feb 2, 2026Yield to maturity3.561%Feb 4, 2026Yield to maturity3.560%Feb 6, 2026Yield to maturity3.504%Feb 10, 2026Yield to maturity3.450%Feb 12, 2026Yield to maturity3.466%Feb 17, 2026Yield to maturity3.444%Feb 19, 2026Yield to maturity3.478%Feb 23, 2026Yield to maturity3.457%Feb 25, 2026Yield to maturity3.492%Feb 27, 2026Yield to maturity3.398%Mar 3, 2026Yield to maturity3.523%Mar 5, 2026Yield to maturity3.595%Mar 9, 2026Yield to maturity3.574%Mar 11, 2026Yield to maturity3.665%Mar 13, 2026Yield to maturity3.755%Mar 17, 2026Yield to maturity3.699%Mar 19, 2026Yield to maturity3.828%Mar 23, 2026Yield to maturity3.865%Mar 25, 2026Yield to maturity3.921%Mar 27, 2026Yield to maturity3.940%Mar 31, 2026Yield to maturity3.825%Apr 2, 2026Yield to maturity3.825%Apr 6, 2026Yield to maturity3.881%Apr 8, 2026Yield to maturity3.823%Apr 10, 2026Yield to maturity3.822%Apr 14, 2026Yield to maturity3.783%Apr 16, 2026Yield to maturity3.802%Apr 20, 2026Yield to maturity3.742%Apr 22, 2026Yield to maturity3.800%Apr 24, 2026Yield to maturity3.779%Apr 28, 2026Yield to maturity3.838%Apr 30, 2026Yield to maturity3.877%May 4, 2026Yield to maturity3.937%May 6, 2026Yield to maturity3.856%May 8, 2026Yield to maturity3.896%May 12, 2026Yield to maturity3.978%May 14, 2026Yield to maturity3.978%May 18, 2026Yield to maturity4.040%May 20, 2026Yield to maturity3.998%May 22, 2026Yield to maturity4.103%May 27, 2026Yield to maturity3.999%May 29, 2026Yield to maturity3.978%Jun 2, 2026Yield to maturity4.020%Jun 4, 2026Yield to maturity4.021%Jun 8, 2026Yield to maturity4.128%Jun 10, 2026Yield to maturity4.107%Jun 12, 2026Yield to maturity4.065%Jun 16, 2026Yield to maturity4.022%Jun 18, 2026Yield to maturity4.175%Jun 23, 2026Yield to maturity4.198%Jun 25, 2026Yield to maturity4.132%Jun 29, 2026Yield to maturity4.110%Jul 1, 2026Yield to maturity4.178%Jul 6, 2026Yield to maturity4.134%Jul 8, 2026Yield to maturity4.202%Jul 10, 2026Yield to maturity4.181%Jul 14, 2026Yield to maturity4.158%Jul 16, 2026Yield to maturity4.136%Jul 20, 2026Yield to maturity4.183%Jul 22, 2026Yield to maturity4.277%Jul 24, 2026Yield to maturity4.302%Jul 28, 2026Yield to maturity4.256%Jul 30, 2026Yield to maturity4.210%Aug 3, 2026Yield to maturity4.211%Aug 5, 2026Yield to maturity4.164%Aug 7, 2026Yield to maturity4.141%Aug 11, 2026Yield to maturity4.166%Aug 13, 2026Yield to maturity4.094%Aug 17, 2026Yield to maturity4.119%Aug 19, 2026Yield to maturity4.119%Aug 21, 2026Yield to maturity4.170%Aug 25, 2026Yield to maturity4.145%Aug 27, 2026Yield to maturity4.171%Aug 31, 2026Yield to maturity4.273%Sep 2, 2026Yield to maturity4.300%Sep 4, 2026Yield to maturity4.303%Sep 9, 2026Yield to maturity4.330%Sep 11, 2026Yield to maturity4.515%Sep 15, 2026Yield to maturity4.543%Sep 17, 2026Yield to maturity4.572%Sep 21, 2026Yield to maturity4.630%Sep 23, 2026Yield to maturity4.713%Sep 25, 2026Yield to maturity4.719%Sep 29, 2026Yield to maturity4.722%Oct 1, 2026Yield to maturity4.617%Oct 5, 2026Yield to maturity4.650%Oct 7, 2026Yield to maturity4.598%Oct 9, 2026Yield to maturity4.632%Oct 14, 2026Yield to maturity4.663%Oct 16, 2026Yield to maturity4.585%Oct 20, 2026Yield to maturity4.645%Oct 22, 2026Yield to maturity4.505%Oct 26, 2026Yield to maturity4.597%Oct 28, 2026Yield to maturity4.571%Oct 30, 2026Yield to maturity4.489%Nov 3, 2026Yield to maturity4.492%Nov 5, 2026Yield to maturity4.377%Nov 9, 2026Yield to maturity4.469%

Price history

475 trading days to Nov 9, 2026

98.599.099.5100.0100.5101.0101.5Dec 16, 2024Nov 9, 2026Dec 16, 2024Close99.375Dec 18, 2024Close99.031Dec 20, 2024Close99.125Dec 24, 2024Close99.000Dec 27, 2024Close99.000Dec 31, 2024Close99.250Jan 3, 2025Close99.125Jan 7, 2025Close99.063Jan 9, 2025Close99.125Jan 13, 2025Close98.688Jan 15, 2025Close99.094Jan 17, 2025Close99.125Jan 22, 2025Close99.125Jan 24, 2025Close99.125Jan 28, 2025Close99.375Jan 30, 2025Close99.406Feb 3, 2025Close99.250Feb 5, 2025Close99.500Feb 7, 2025Close99.219Feb 11, 2025Close99.219Feb 13, 2025Close99.125Feb 18, 2025Close99.156Feb 20, 2025Close99.281Feb 24, 2025Close99.563Feb 26, 2025Close99.875Feb 28, 2025Close100.031Mar 4, 2025Close100.125Mar 6, 2025Close100.063Mar 10, 2025Close100.250Mar 12, 2025Close100.031Mar 14, 2025Close99.969Mar 18, 2025Close99.969Mar 20, 2025Close100.156Mar 24, 2025Close99.969Mar 26, 2025Close99.969Mar 28, 2025Close100.250Apr 1, 2025Close100.375Apr 3, 2025Close100.781Apr 7, 2025Close100.688Apr 9, 2025Close100.188Apr 11, 2025Close100.031Apr 15, 2025Close100.406Apr 17, 2025Close100.500Apr 22, 2025Close100.500Apr 24, 2025Close100.563Apr 28, 2025Close100.844Apr 30, 2025Close101.063May 2, 2025Close100.469May 6, 2025Close100.594May 8, 2025Close100.313May 12, 2025Close100.063May 14, 2025Close99.875May 16, 2025Close100.094May 20, 2025Close100.125May 22, 2025Close100.063May 27, 2025Close100.156May 29, 2025Close100.188Jun 2, 2025Close100.219Jun 4, 2025Close100.375Jun 6, 2025Close99.969Jun 10, 2025Close100.063Jun 12, 2025Close100.313Jun 16, 2025Close100.156Jun 18, 2025Close100.250Jun 23, 2025Close100.469Jun 25, 2025Close100.594Jun 27, 2025Close100.625Jul 1, 2025Close100.563Jul 3, 2025Close100.344Jul 8, 2025Close100.281Jul 10, 2025Close100.375Jul 14, 2025Close100.313Jul 16, 2025Close100.313Jul 18, 2025Close100.375Jul 22, 2025Close100.500Jul 24, 2025Close100.281Jul 28, 2025Close100.281Jul 30, 2025Close100.219Aug 1, 2025Close100.719Aug 5, 2025Close100.719Aug 7, 2025Close100.656Aug 11, 2025Close100.594Aug 13, 2025Close100.781Aug 15, 2025Close100.625Aug 19, 2025Close100.625Aug 21, 2025Close100.563Aug 25, 2025Close100.688Aug 27, 2025Close100.844Aug 29, 2025Close100.875Sep 3, 2025Close100.875Sep 5, 2025Close101.094Sep 9, 2025Close101.031Sep 11, 2025Close101.063Sep 15, 2025Close101.031Sep 17, 2025Close101.031Sep 19, 2025Close100.938Sep 23, 2025Close100.906Sep 25, 2025Close100.719Sep 29, 2025Close100.781Oct 1, 2025Close100.969Oct 3, 2025Close100.906Oct 7, 2025Close100.906Oct 9, 2025Close100.844Oct 14, 2025Close101.094Oct 16, 2025Close101.219Oct 20, 2025Close101.125Oct 22, 2025Close101.156Oct 24, 2025Close101.094Oct 28, 2025Close101.063Oct 30, 2025Close100.813Nov 3, 2025Close100.813Nov 5, 2025Close100.750Nov 7, 2025Close100.906Nov 12, 2025Close100.875Nov 14, 2025Close100.781Nov 18, 2025Close100.875Nov 20, 2025Close100.906Nov 24, 2025Close101.031Nov 26, 2025Close101.031Dec 1, 2025Close100.906Dec 3, 2025Close101.000Dec 5, 2025Close100.844Dec 9, 2025Close100.750Dec 11, 2025Close100.906Dec 15, 2025Close100.938Dec 17, 2025Close100.969Dec 19, 2025Close101.000Dec 23, 2025Close100.875Dec 26, 2025Close100.969Dec 30, 2025Close101.031Jan 2, 2026Close100.969Jan 6, 2026Close100.969Jan 8, 2026Close100.938Jan 12, 2026Close100.844Jan 14, 2026Close100.875Jan 16, 2026Close100.719Jan 21, 2026Close100.750Jan 23, 2026Close100.719Jan 27, 2026Close100.781Jan 29, 2026Close100.813Feb 2, 2026Close100.781Feb 4, 2026Close100.781Feb 6, 2026Close100.875Feb 10, 2026Close100.969Feb 12, 2026Close100.938Feb 17, 2026Close100.969Feb 19, 2026Close100.906Feb 23, 2026Close100.938Feb 25, 2026Close100.875Feb 27, 2026Close101.031Mar 3, 2026Close100.813Mar 5, 2026Close100.688Mar 9, 2026Close100.719Mar 11, 2026Close100.563Mar 13, 2026Close100.406Mar 17, 2026Close100.500Mar 19, 2026Close100.281Mar 23, 2026Close100.219Mar 25, 2026Close100.125Mar 27, 2026Close100.094Mar 31, 2026Close100.281Apr 2, 2026Close100.281Apr 6, 2026Close100.188Apr 8, 2026Close100.281Apr 10, 2026Close100.281Apr 14, 2026Close100.344Apr 16, 2026Close100.313Apr 20, 2026Close100.406Apr 22, 2026Close100.313Apr 24, 2026Close100.344Apr 28, 2026Close100.250Apr 30, 2026Close100.188May 4, 2026Close100.094May 6, 2026Close100.219May 8, 2026Close100.156May 12, 2026Close100.031May 14, 2026Close100.031May 18, 2026Close99.938May 20, 2026Close100.000May 22, 2026Close99.844May 27, 2026Close100.000May 29, 2026Close100.031Jun 2, 2026Close99.969Jun 4, 2026Close99.969Jun 8, 2026Close99.813Jun 10, 2026Close99.844Jun 12, 2026Close99.906Jun 16, 2026Close99.969Jun 18, 2026Close99.750Jun 23, 2026Close99.719Jun 25, 2026Close99.813Jun 29, 2026Close99.844Jul 1, 2026Close99.750Jul 6, 2026Close99.813Jul 8, 2026Close99.719Jul 10, 2026Close99.750Jul 14, 2026Close99.781Jul 16, 2026Close99.813Jul 20, 2026Close99.750Jul 22, 2026Close99.625Jul 24, 2026Close99.594Jul 28, 2026Close99.656Jul 30, 2026Close99.719Aug 3, 2026Close99.719Aug 5, 2026Close99.781Aug 7, 2026Close99.813Aug 11, 2026Close99.781Aug 13, 2026Close99.875Aug 17, 2026Close99.844Aug 19, 2026Close99.844Aug 21, 2026Close99.781Aug 25, 2026Close99.813Aug 27, 2026Close99.781Aug 31, 2026Close99.656Sep 2, 2026Close99.625Sep 4, 2026Close99.625Sep 9, 2026Close99.594Sep 11, 2026Close99.375Sep 15, 2026Close99.344Sep 17, 2026Close99.313Sep 21, 2026Close99.250Sep 23, 2026Close99.156Sep 25, 2026Close99.156Sep 29, 2026Close99.156Oct 1, 2026Close99.281Oct 5, 2026Close99.250Oct 7, 2026Close99.313Oct 9, 2026Close99.281Oct 14, 2026Close99.250Oct 16, 2026Close99.344Oct 20, 2026Close99.281Oct 22, 2026Close99.438Oct 26, 2026Close99.344Oct 28, 2026Close99.375Oct 30, 2026Close99.469Nov 3, 2026Close99.469Nov 5, 2026Close99.594Nov 9, 2026Close99.500
The most recent 20 trading days of prices for 91282CMB4.
DateBidOfferClose
Nov 9, 202699.50099.53199.500
Nov 6, 202699.53199.54799.563
Nov 5, 202699.50099.53199.594
Nov 4, 202699.46999.48499.469
Nov 3, 202699.46999.48499.469
Nov 2, 202699.46999.48499.469
Oct 30, 202699.43899.45399.469
Oct 29, 202699.40699.42299.406
Oct 28, 202699.31399.32899.375
Oct 27, 202699.34499.35999.344
Oct 26, 202699.37599.37599.344
Oct 23, 202699.37599.39199.375
Oct 22, 202699.37599.39199.438
Oct 21, 202699.28199.29799.281
Oct 20, 202699.31399.32899.281
Oct 19, 202699.31399.32899.313
Oct 16, 202699.34499.35999.344
Oct 15, 202699.28199.29799.281
Oct 14, 202699.21999.23499.250
Oct 13, 202699.28199.28199.281

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 91282CMB4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 10, 2024Dec 16, 2024New issue$58.0bn$58.4bn2.58x4.117%

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.