Treasury note

91282CMD0 · 4.375% due December 31, 2029

Original term
5-Year
Maturity
Dec 31, 2029
Coupon
4.375%
Pays
Semi-Annual
Dated
Dec 31, 2024
First coupon
Jun 30, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$70.39bn
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
4.622%
Modified duration
2.855 yr
DV01
0.0288
Convexity
0.0996
Dirty price
100.862

Where its rate sensitivity sits

<.01
0.01
0.04
0.08
2.60
0.19
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 6 of twelve buckets, summing to 2.921 years against a modified duration of 2.855.

Against the fitted curve

Priced 2.0 bp rich to the curve on that day, 5.62 cents per 100 of face.

That is -0.98 standard deviations from its own typical residual.

Yield to maturity, 465 observations

3.0%3.5%4.0%4.5%5.0%5.5%Dec 31, 2024Nov 9, 2026Dec 31, 2024Yield to maturity4.382%Jan 3, 2025Yield to maturity4.410%Jan 7, 2025Yield to maturity4.460%Jan 9, 2025Yield to maturity4.460%Jan 13, 2025Yield to maturity4.610%Jan 15, 2025Yield to maturity4.453%Jan 17, 2025Yield to maturity4.417%Jan 22, 2025Yield to maturity4.424%Jan 24, 2025Yield to maturity4.431%Jan 28, 2025Yield to maturity4.339%Jan 30, 2025Yield to maturity4.310%Feb 3, 2025Yield to maturity4.353%Feb 5, 2025Yield to maturity4.246%Feb 7, 2025Yield to maturity4.345%Feb 11, 2025Yield to maturity4.374%Feb 13, 2025Yield to maturity4.396%Feb 18, 2025Yield to maturity4.403%Feb 20, 2025Yield to maturity4.345%Feb 24, 2025Yield to maturity4.237%Feb 26, 2025Yield to maturity4.079%Feb 28, 2025Yield to maturity4.043%Mar 4, 2025Yield to maturity4.014%Mar 6, 2025Yield to maturity4.071%Mar 10, 2025Yield to maturity3.985%Mar 12, 2025Yield to maturity4.084%Mar 14, 2025Yield to maturity4.091%Mar 18, 2025Yield to maturity4.076%Mar 20, 2025Yield to maturity4.011%Mar 24, 2025Yield to maturity4.097%Mar 26, 2025Yield to maturity4.089%Mar 28, 2025Yield to maturity3.980%Apr 1, 2025Yield to maturity3.908%Apr 3, 2025Yield to maturity3.750%Apr 7, 2025Yield to maturity3.813%Apr 9, 2025Yield to maturity4.051%Apr 11, 2025Yield to maturity4.153%Apr 15, 2025Yield to maturity3.977%Apr 17, 2025Yield to maturity3.940%Apr 22, 2025Yield to maturity3.968%Apr 24, 2025Yield to maturity3.917%Apr 28, 2025Yield to maturity3.799%Apr 30, 2025Yield to maturity3.705%May 2, 2025Yield to maturity3.907%May 6, 2025Yield to maturity3.885%May 8, 2025Yield to maturity3.987%May 12, 2025Yield to maturity4.090%May 14, 2025Yield to maturity4.157%May 16, 2025Yield to maturity4.052%May 20, 2025Yield to maturity4.059%May 22, 2025Yield to maturity4.096%May 27, 2025Yield to maturity4.021%May 29, 2025Yield to maturity3.998%Jun 2, 2025Yield to maturity4.005%Jun 4, 2025Yield to maturity3.922%Jun 6, 2025Yield to maturity4.124%Jun 10, 2025Yield to maturity4.071%Jun 12, 2025Yield to maturity3.958%Jun 16, 2025Yield to maturity4.025%Jun 18, 2025Yield to maturity3.964%Jun 23, 2025Yield to maturity3.888%Jun 25, 2025Yield to maturity3.827%Jun 27, 2025Yield to maturity3.811%Jul 1, 2025Yield to maturity3.825%Jul 3, 2025Yield to maturity3.922%Jul 8, 2025Yield to maturity3.967%Jul 10, 2025Yield to maturity3.913%Jul 14, 2025Yield to maturity3.958%Jul 16, 2025Yield to maturity3.965%Jul 18, 2025Yield to maturity3.934%Jul 22, 2025Yield to maturity3.857%Jul 24, 2025Yield to maturity3.956%Jul 28, 2025Yield to maturity3.947%Jul 30, 2025Yield to maturity3.946%Aug 1, 2025Yield to maturity3.746%Aug 5, 2025Yield to maturity3.745%Aug 7, 2025Yield to maturity3.767%Aug 11, 2025Yield to maturity3.804%Aug 13, 2025Yield to maturity3.742%Aug 15, 2025Yield to maturity3.818%Aug 19, 2025Yield to maturity3.794%Aug 21, 2025Yield to maturity3.832%Aug 25, 2025Yield to maturity3.761%Aug 27, 2025Yield to maturity3.675%Aug 29, 2025Yield to maturity3.657%Sep 3, 2025Yield to maturity3.656%Sep 5, 2025Yield to maturity3.554%Sep 9, 2025Yield to maturity3.576%Sep 11, 2025Yield to maturity3.560%Sep 15, 2025Yield to maturity3.581%Sep 17, 2025Yield to maturity3.588%Sep 19, 2025Yield to maturity3.649%Sep 23, 2025Yield to maturity3.640%Sep 25, 2025Yield to maturity3.734%Sep 29, 2025Yield to maturity3.708%Oct 1, 2025Yield to maturity3.645%Oct 3, 2025Yield to maturity3.682%Oct 7, 2025Yield to maturity3.674%Oct 9, 2025Yield to maturity3.697%Oct 14, 2025Yield to maturity3.560%Oct 16, 2025Yield to maturity3.503%Oct 20, 2025Yield to maturity3.541%Oct 22, 2025Yield to maturity3.524%Oct 24, 2025Yield to maturity3.570%Oct 28, 2025Yield to maturity3.569%Oct 30, 2025Yield to maturity3.688%Nov 3, 2025Yield to maturity3.679%Nov 5, 2025Yield to maturity3.726%Nov 7, 2025Yield to maturity3.636%Nov 12, 2025Yield to maturity3.635%Nov 14, 2025Yield to maturity3.698%Nov 18, 2025Yield to maturity3.656%Nov 20, 2025Yield to maturity3.631%Nov 24, 2025Yield to maturity3.564%Nov 26, 2025Yield to maturity3.539%Dec 1, 2025Yield to maturity3.626%Dec 3, 2025Yield to maturity3.576%Dec 5, 2025Yield to maturity3.665%Dec 9, 2025Yield to maturity3.722%Dec 11, 2025Yield to maturity3.655%Dec 15, 2025Yield to maturity3.661%Dec 17, 2025Yield to maturity3.628%Dec 19, 2025Yield to maturity3.626%Dec 23, 2025Yield to maturity3.675%Dec 26, 2025Yield to maturity3.631%Dec 30, 2025Yield to maturity3.597%Jan 2, 2026Yield to maturity3.653%Jan 6, 2026Yield to maturity3.635%Jan 8, 2026Yield to maturity3.659%Jan 12, 2026Yield to maturity3.691%Jan 14, 2026Yield to maturity3.648%Jan 16, 2026Yield to maturity3.755%Jan 21, 2026Yield to maturity3.755%Jan 23, 2026Yield to maturity3.761%Jan 27, 2026Yield to maturity3.744%Jan 29, 2026Yield to maturity3.717%Feb 2, 2026Yield to maturity3.741%Feb 4, 2026Yield to maturity3.749%Feb 6, 2026Yield to maturity3.670%Feb 10, 2026Yield to maturity3.609%Feb 12, 2026Yield to maturity3.591%Feb 17, 2026Yield to maturity3.545%Feb 19, 2026Yield to maturity3.570%Feb 23, 2026Yield to maturity3.507%Feb 25, 2026Yield to maturity3.549%Feb 27, 2026Yield to maturity3.452%Mar 3, 2026Yield to maturity3.572%Mar 5, 2026Yield to maturity3.649%Mar 9, 2026Yield to maturity3.638%Mar 11, 2026Yield to maturity3.716%Mar 13, 2026Yield to maturity3.811%Mar 17, 2026Yield to maturity3.731%Mar 19, 2026Yield to maturity3.845%Mar 23, 2026Yield to maturity3.906%Mar 25, 2026Yield to maturity3.932%Mar 27, 2026Yield to maturity4.002%Mar 31, 2026Yield to maturity3.867%Apr 2, 2026Yield to maturity3.885%Apr 6, 2026Yield to maturity3.928%Apr 8, 2026Yield to maturity3.865%Apr 10, 2026Yield to maturity3.872%Apr 14, 2026Yield to maturity3.809%Apr 16, 2026Yield to maturity3.844%Apr 20, 2026Yield to maturity3.788%Apr 22, 2026Yield to maturity3.851%Apr 24, 2026Yield to maturity3.849%Apr 28, 2026Yield to maturity3.913%Apr 30, 2026Yield to maturity3.949%May 4, 2026Yield to maturity4.030%May 6, 2026Yield to maturity3.938%May 8, 2026Yield to maturity3.964%May 12, 2026Yield to maturity4.065%May 14, 2026Yield to maturity4.074%May 18, 2026Yield to maturity4.195%May 20, 2026Yield to maturity4.157%May 22, 2026Yield to maturity4.213%May 27, 2026Yield to maturity4.128%May 29, 2026Yield to maturity4.090%Jun 2, 2026Yield to maturity4.127%Jun 4, 2026Yield to maturity4.136%Jun 8, 2026Yield to maturity4.250%Jun 10, 2026Yield to maturity4.221%Jun 12, 2026Yield to maturity4.164%Jun 16, 2026Yield to maturity4.116%Jun 18, 2026Yield to maturity4.211%Jun 23, 2026Yield to maturity4.240%Jun 25, 2026Yield to maturity4.143%Jun 29, 2026Yield to maturity4.123%Jul 1, 2026Yield to maturity4.210%Jul 6, 2026Yield to maturity4.161%Jul 8, 2026Yield to maturity4.257%Jul 10, 2026Yield to maturity4.257%Jul 14, 2026Yield to maturity4.257%Jul 16, 2026Yield to maturity4.227%Jul 20, 2026Yield to maturity4.276%Jul 22, 2026Yield to maturity4.374%Jul 24, 2026Yield to maturity4.394%Jul 28, 2026Yield to maturity4.324%Jul 30, 2026Yield to maturity4.324%Aug 3, 2026Yield to maturity4.344%Aug 5, 2026Yield to maturity4.274%Aug 7, 2026Yield to maturity4.284%Aug 11, 2026Yield to maturity4.324%Aug 13, 2026Yield to maturity4.243%Aug 17, 2026Yield to maturity4.293%Aug 19, 2026Yield to maturity4.273%Aug 21, 2026Yield to maturity4.343%Aug 25, 2026Yield to maturity4.282%Aug 27, 2026Yield to maturity4.323%Aug 31, 2026Yield to maturity4.434%Sep 2, 2026Yield to maturity4.475%Sep 4, 2026Yield to maturity4.476%Sep 9, 2026Yield to maturity4.538%Sep 11, 2026Yield to maturity4.725%Sep 15, 2026Yield to maturity4.778%Sep 17, 2026Yield to maturity4.758%Sep 21, 2026Yield to maturity4.822%Sep 23, 2026Yield to maturity4.991%Sep 25, 2026Yield to maturity4.951%Sep 29, 2026Yield to maturity5.005%Oct 1, 2026Yield to maturity4.931%Oct 5, 2026Yield to maturity4.987%Oct 7, 2026Yield to maturity4.934%Oct 9, 2026Yield to maturity4.947%Oct 14, 2026Yield to maturity4.937%Oct 16, 2026Yield to maturity4.842%Oct 20, 2026Yield to maturity4.886%Oct 22, 2026Yield to maturity4.736%Oct 26, 2026Yield to maturity4.802%Oct 28, 2026Yield to maturity4.813%Oct 30, 2026Yield to maturity4.663%Nov 3, 2026Yield to maturity4.696%Nov 5, 2026Yield to maturity4.545%Nov 9, 2026Yield to maturity4.622%

Price history

465 trading days to Nov 9, 2026

9899100101102103104Dec 31, 2024Nov 9, 2026Dec 31, 2024Close99.969Jan 3, 2025Close99.844Jan 7, 2025Close99.625Jan 9, 2025Close99.625Jan 13, 2025Close98.969Jan 15, 2025Close99.656Jan 17, 2025Close99.813Jan 22, 2025Close99.781Jan 24, 2025Close99.750Jan 28, 2025Close100.156Jan 30, 2025Close100.281Feb 3, 2025Close100.094Feb 5, 2025Close100.563Feb 7, 2025Close100.125Feb 11, 2025Close100.000Feb 13, 2025Close99.906Feb 18, 2025Close99.875Feb 20, 2025Close100.125Feb 24, 2025Close100.594Feb 26, 2025Close101.281Feb 28, 2025Close101.438Mar 4, 2025Close101.563Mar 6, 2025Close101.313Mar 10, 2025Close101.688Mar 12, 2025Close101.250Mar 14, 2025Close101.219Mar 18, 2025Close101.281Mar 20, 2025Close101.563Mar 24, 2025Close101.188Mar 26, 2025Close101.219Mar 28, 2025Close101.688Apr 1, 2025Close102.000Apr 3, 2025Close102.688Apr 7, 2025Close102.406Apr 9, 2025Close101.375Apr 11, 2025Close100.938Apr 15, 2025Close101.688Apr 17, 2025Close101.844Apr 22, 2025Close101.719Apr 24, 2025Close101.938Apr 28, 2025Close102.438Apr 30, 2025Close102.844May 2, 2025Close101.969May 6, 2025Close102.063May 8, 2025Close101.625May 12, 2025Close101.188May 14, 2025Close100.906May 16, 2025Close101.344May 20, 2025Close101.313May 22, 2025Close101.156May 27, 2025Close101.469May 29, 2025Close101.563Jun 2, 2025Close101.531Jun 4, 2025Close101.875Jun 6, 2025Close101.031Jun 10, 2025Close101.250Jun 12, 2025Close101.719Jun 16, 2025Close101.438Jun 18, 2025Close101.688Jun 23, 2025Close102.000Jun 25, 2025Close102.250Jun 27, 2025Close102.313Jul 1, 2025Close102.250Jul 3, 2025Close101.844Jul 8, 2025Close101.656Jul 10, 2025Close101.875Jul 14, 2025Close101.688Jul 16, 2025Close101.656Jul 18, 2025Close101.781Jul 22, 2025Close102.094Jul 24, 2025Close101.688Jul 28, 2025Close101.719Jul 30, 2025Close101.719Aug 1, 2025Close102.531Aug 5, 2025Close102.531Aug 7, 2025Close102.438Aug 11, 2025Close102.281Aug 13, 2025Close102.531Aug 15, 2025Close102.219Aug 19, 2025Close102.313Aug 21, 2025Close102.156Aug 25, 2025Close102.438Aug 27, 2025Close102.781Aug 29, 2025Close102.844Sep 3, 2025Close102.844Sep 5, 2025Close103.250Sep 9, 2025Close103.156Sep 11, 2025Close103.219Sep 15, 2025Close103.125Sep 17, 2025Close103.094Sep 19, 2025Close102.844Sep 23, 2025Close102.875Sep 25, 2025Close102.500Sep 29, 2025Close102.594Oct 1, 2025Close102.844Oct 3, 2025Close102.688Oct 7, 2025Close102.719Oct 9, 2025Close102.625Oct 14, 2025Close103.156Oct 16, 2025Close103.375Oct 20, 2025Close103.219Oct 22, 2025Close103.281Oct 24, 2025Close103.094Oct 28, 2025Close103.094Oct 30, 2025Close102.625Nov 3, 2025Close102.656Nov 5, 2025Close102.469Nov 7, 2025Close102.813Nov 12, 2025Close102.813Nov 14, 2025Close102.563Nov 18, 2025Close102.719Nov 20, 2025Close102.813Nov 24, 2025Close103.063Nov 26, 2025Close103.156Dec 1, 2025Close102.813Dec 3, 2025Close103.000Dec 5, 2025Close102.656Dec 9, 2025Close102.438Dec 11, 2025Close102.688Dec 15, 2025Close102.656Dec 17, 2025Close102.781Dec 19, 2025Close102.781Dec 23, 2025Close102.594Dec 26, 2025Close102.750Dec 30, 2025Close102.875Jan 2, 2026Close102.656Jan 6, 2026Close102.719Jan 8, 2026Close102.625Jan 12, 2026Close102.500Jan 14, 2026Close102.656Jan 16, 2026Close102.250Jan 21, 2026Close102.250Jan 23, 2026Close102.219Jan 27, 2026Close102.281Jan 29, 2026Close102.375Feb 2, 2026Close102.281Feb 4, 2026Close102.250Feb 6, 2026Close102.531Feb 10, 2026Close102.750Feb 12, 2026Close102.813Feb 17, 2026Close102.969Feb 19, 2026Close102.875Feb 23, 2026Close103.094Feb 25, 2026Close102.938Feb 27, 2026Close103.281Mar 3, 2026Close102.844Mar 5, 2026Close102.563Mar 9, 2026Close102.594Mar 11, 2026Close102.313Mar 13, 2026Close101.969Mar 17, 2026Close102.250Mar 19, 2026Close101.844Mar 23, 2026Close101.625Mar 25, 2026Close101.531Mar 27, 2026Close101.281Mar 31, 2026Close101.750Apr 2, 2026Close101.688Apr 6, 2026Close101.531Apr 8, 2026Close101.750Apr 10, 2026Close101.719Apr 14, 2026Close101.938Apr 16, 2026Close101.813Apr 20, 2026Close102.000Apr 22, 2026Close101.781Apr 24, 2026Close101.781Apr 28, 2026Close101.563Apr 30, 2026Close101.438May 4, 2026Close101.156May 6, 2026Close101.469May 8, 2026Close101.375May 12, 2026Close101.031May 14, 2026Close101.000May 18, 2026Close100.594May 20, 2026Close100.719May 22, 2026Close100.531May 27, 2026Close100.813May 29, 2026Close100.938Jun 2, 2026Close100.813Jun 4, 2026Close100.781Jun 8, 2026Close100.406Jun 10, 2026Close100.500Jun 12, 2026Close100.688Jun 16, 2026Close100.844Jun 18, 2026Close100.531Jun 23, 2026Close100.438Jun 25, 2026Close100.750Jun 29, 2026Close100.813Jul 1, 2026Close100.531Jul 6, 2026Close100.688Jul 8, 2026Close100.375Jul 10, 2026Close100.375Jul 14, 2026Close100.375Jul 16, 2026Close100.469Jul 20, 2026Close100.313Jul 22, 2026Close100.000Jul 24, 2026Close99.938Jul 28, 2026Close100.156Jul 30, 2026Close100.156Aug 3, 2026Close100.094Aug 5, 2026Close100.313Aug 7, 2026Close100.281Aug 11, 2026Close100.156Aug 13, 2026Close100.406Aug 17, 2026Close100.250Aug 19, 2026Close100.313Aug 21, 2026Close100.094Aug 25, 2026Close100.281Aug 27, 2026Close100.156Aug 31, 2026Close99.813Sep 2, 2026Close99.688Sep 4, 2026Close99.688Sep 9, 2026Close99.500Sep 11, 2026Close98.938Sep 15, 2026Close98.781Sep 17, 2026Close98.844Sep 21, 2026Close98.656Sep 23, 2026Close98.156Sep 25, 2026Close98.281Sep 29, 2026Close98.125Oct 1, 2026Close98.344Oct 5, 2026Close98.188Oct 7, 2026Close98.344Oct 9, 2026Close98.313Oct 14, 2026Close98.344Oct 16, 2026Close98.625Oct 20, 2026Close98.500Oct 22, 2026Close98.938Oct 26, 2026Close98.750Oct 28, 2026Close98.719Oct 30, 2026Close99.156Nov 3, 2026Close99.063Nov 5, 2026Close99.500Nov 9, 2026Close99.281
The most recent 20 trading days of prices for 91282CMD0.
DateBidOfferClose
Nov 9, 202699.28199.29799.281
Nov 6, 202699.34499.35999.344
Nov 5, 202699.34499.37599.500
Nov 4, 202699.15699.17299.219
Nov 3, 202699.09499.10999.063
Nov 2, 202699.18899.20399.156
Oct 30, 202699.03199.06399.156
Oct 29, 202698.93898.95398.938
Oct 28, 202698.62598.64198.719
Oct 27, 202698.75098.76698.719
Oct 26, 202698.78198.79798.750
Oct 23, 202698.81398.82898.844
Oct 22, 202698.78198.79798.938
Oct 21, 202698.50098.51698.438
Oct 20, 202698.56398.57898.500
Oct 19, 202698.53198.54798.531
Oct 16, 202698.65698.67298.625
Oct 15, 202698.53198.54798.531
Oct 14, 202698.15698.17298.344
Oct 13, 202698.31398.32898.344

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 91282CMD0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 24, 2024Dec 31, 2024New issue$70.0bn$70.7bn2.40x4.478%

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.