Treasury note

91282CMG3 · 4.25% due January 31, 2030

Original term
5-Year
Maturity
Jan 31, 2030
Coupon
4.250%
Pays
Semi-Annual
Dated
Jan 31, 2025
First coupon
Jul 31, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$73.89bn
Held stripped
$183.2m
Share stripped
0.25%

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
4.628%
Modified duration
2.942 yr
DV01
0.0294
Convexity
0.105
Dirty price
100.053

Where its rate sensitivity sits

<.01
0.01
0.04
0.08
2.57
0.32
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 3.011 years against a modified duration of 2.942.

Against the fitted curve

Priced 1.8 bp rich to the curve on that day, 5.21 cents per 100 of face.

That is -1.17 standard deviations from its own typical residual.

Yield to maturity, 444 observations

3.0%3.5%4.0%4.5%5.0%5.5%Jan 31, 2025Nov 9, 2026Jan 31, 2025Yield to maturity4.362%Feb 4, 2025Yield to maturity4.313%Feb 6, 2025Yield to maturity4.278%Feb 10, 2025Yield to maturity4.341%Feb 12, 2025Yield to maturity4.477%Feb 14, 2025Yield to maturity4.327%Feb 19, 2025Yield to maturity4.370%Feb 21, 2025Yield to maturity4.257%Feb 25, 2025Yield to maturity4.129%Feb 27, 2025Yield to maturity4.101%Mar 3, 2025Yield to maturity3.974%Mar 5, 2025Yield to maturity4.079%Mar 7, 2025Yield to maturity4.100%Mar 11, 2025Yield to maturity4.036%Mar 13, 2025Yield to maturity4.036%Mar 17, 2025Yield to maturity4.113%Mar 19, 2025Yield to maturity4.035%Mar 21, 2025Yield to maturity4.006%Mar 25, 2025Yield to maturity4.070%Mar 27, 2025Yield to maturity4.098%Mar 31, 2025Yield to maturity3.962%Apr 2, 2025Yield to maturity3.955%Apr 4, 2025Yield to maturity3.720%Apr 8, 2025Yield to maturity3.883%Apr 10, 2025Yield to maturity4.032%Apr 14, 2025Yield to maturity4.017%Apr 16, 2025Yield to maturity3.895%Apr 21, 2025Yield to maturity3.952%Apr 23, 2025Yield to maturity4.002%Apr 25, 2025Yield to maturity3.879%Apr 29, 2025Yield to maturity3.764%May 1, 2025Yield to maturity3.806%May 5, 2025Yield to maturity3.935%May 7, 2025Yield to maturity3.855%May 9, 2025Yield to maturity3.985%May 13, 2025Yield to maturity4.124%May 15, 2025Yield to maturity4.065%May 19, 2025Yield to maturity4.057%May 21, 2025Yield to maturity4.138%May 23, 2025Yield to maturity4.079%May 28, 2025Yield to maturity4.056%May 30, 2025Yield to maturity3.967%Jun 3, 2025Yield to maturity4.026%Jun 5, 2025Yield to maturity3.996%Jun 9, 2025Yield to maturity4.092%Jun 11, 2025Yield to maturity4.010%Jun 13, 2025Yield to maturity4.010%Jun 17, 2025Yield to maturity3.980%Jun 20, 2025Yield to maturity3.950%Jun 24, 2025Yield to maturity3.845%Jun 26, 2025Yield to maturity3.778%Jun 30, 2025Yield to maturity3.770%Jul 2, 2025Yield to maturity3.851%Jul 7, 2025Yield to maturity3.947%Jul 9, 2025Yield to maturity3.902%Jul 11, 2025Yield to maturity3.969%Jul 15, 2025Yield to maturity4.037%Jul 17, 2025Yield to maturity3.984%Jul 21, 2025Yield to maturity3.893%Jul 23, 2025Yield to maturity3.922%Jul 25, 2025Yield to maturity3.929%Jul 29, 2025Yield to maturity3.884%Jul 31, 2025Yield to maturity3.952%Aug 4, 2025Yield to maturity3.724%Aug 6, 2025Yield to maturity3.746%Aug 8, 2025Yield to maturity3.813%Aug 12, 2025Yield to maturity3.804%Aug 14, 2025Yield to maturity3.796%Aug 18, 2025Yield to maturity3.833%Aug 20, 2025Yield to maturity3.787%Aug 22, 2025Yield to maturity3.732%Aug 26, 2025Yield to maturity3.717%Aug 28, 2025Yield to maturity3.678%Sep 2, 2025Yield to maturity3.714%Sep 4, 2025Yield to maturity3.622%Sep 8, 2025Yield to maturity3.544%Sep 10, 2025Yield to maturity3.566%Sep 12, 2025Yield to maturity3.611%Sep 16, 2025Yield to maturity3.572%Sep 18, 2025Yield to maturity3.640%Sep 22, 2025Yield to maturity3.677%Sep 24, 2025Yield to maturity3.692%Sep 26, 2025Yield to maturity3.745%Sep 30, 2025Yield to maturity3.713%Oct 2, 2025Yield to maturity3.650%Oct 6, 2025Yield to maturity3.719%Oct 8, 2025Yield to maturity3.695%Oct 10, 2025Yield to maturity3.615%Oct 15, 2025Yield to maturity3.599%Oct 17, 2025Yield to maturity3.558%Oct 21, 2025Yield to maturity3.526%Oct 23, 2025Yield to maturity3.572%Oct 27, 2025Yield to maturity3.587%Oct 29, 2025Yield to maturity3.680%Oct 31, 2025Yield to maturity3.679%Nov 4, 2025Yield to maturity3.663%Nov 6, 2025Yield to maturity3.654%Nov 10, 2025Yield to maturity3.676%Nov 13, 2025Yield to maturity3.675%Nov 17, 2025Yield to maturity3.690%Nov 19, 2025Yield to maturity3.673%Nov 21, 2025Yield to maturity3.584%Nov 25, 2025Yield to maturity3.535%Nov 28, 2025Yield to maturity3.565%Dec 2, 2025Yield to maturity3.613%Dec 4, 2025Yield to maturity3.636%Dec 8, 2025Yield to maturity3.707%Dec 10, 2025Yield to maturity3.674%Dec 12, 2025Yield to maturity3.689%Dec 16, 2025Yield to maturity3.632%Dec 18, 2025Yield to maturity3.607%Dec 22, 2025Yield to maturity3.654%Dec 24, 2025Yield to maturity3.669%Dec 29, 2025Yield to maturity3.611%Dec 31, 2025Yield to maturity3.659%Jan 5, 2026Yield to maturity3.633%Jan 7, 2026Yield to maturity3.624%Jan 9, 2026Yield to maturity3.688%Jan 13, 2026Yield to maturity3.680%Jan 15, 2026Yield to maturity3.704%Jan 20, 2026Yield to maturity3.786%Jan 22, 2026Yield to maturity3.777%Jan 26, 2026Yield to maturity3.750%Jan 28, 2026Yield to maturity3.758%Jan 30, 2026Yield to maturity3.715%Feb 3, 2026Yield to maturity3.748%Feb 5, 2026Yield to maturity3.663%Feb 9, 2026Yield to maturity3.662%Feb 11, 2026Yield to maturity3.669%Feb 13, 2026Yield to maturity3.532%Feb 18, 2026Yield to maturity3.582%Feb 20, 2026Yield to maturity3.580%Feb 24, 2026Yield to maturity3.537%Feb 26, 2026Yield to maturity3.519%Mar 2, 2026Yield to maturity3.559%Mar 4, 2026Yield to maturity3.618%Mar 6, 2026Yield to maturity3.659%Mar 10, 2026Yield to maturity3.667%Mar 12, 2026Yield to maturity3.839%Mar 16, 2026Yield to maturity3.760%Mar 18, 2026Yield to maturity3.820%Mar 20, 2026Yield to maturity3.976%Mar 24, 2026Yield to maturity3.993%Mar 26, 2026Yield to maturity4.063%Mar 30, 2026Yield to maturity3.921%Apr 1, 2026Yield to maturity3.912%Apr 3, 2026Yield to maturity3.937%Apr 7, 2026Yield to maturity3.902%Apr 9, 2026Yield to maturity3.857%Apr 13, 2026Yield to maturity3.856%Apr 15, 2026Yield to maturity3.838%Apr 17, 2026Yield to maturity3.783%Apr 21, 2026Yield to maturity3.845%Apr 23, 2026Yield to maturity3.907%Apr 27, 2026Yield to maturity3.888%Apr 29, 2026Yield to maturity4.004%May 1, 2026Yield to maturity3.967%May 5, 2026Yield to maturity4.021%May 7, 2026Yield to maturity3.994%May 11, 2026Yield to maturity4.020%May 13, 2026Yield to maturity4.066%May 15, 2026Yield to maturity4.202%May 19, 2026Yield to maturity4.267%May 21, 2026Yield to maturity4.193%May 26, 2026Yield to maturity4.147%May 28, 2026Yield to maturity4.119%Jun 1, 2026Yield to maturity4.137%Jun 3, 2026Yield to maturity4.174%Jun 5, 2026Yield to maturity4.258%Jun 9, 2026Yield to maturity4.221%Jun 11, 2026Yield to maturity4.146%Jun 15, 2026Yield to maturity4.146%Jun 17, 2026Yield to maturity4.258%Jun 22, 2026Yield to maturity4.277%Jun 24, 2026Yield to maturity4.173%Jun 26, 2026Yield to maturity4.117%Jun 30, 2026Yield to maturity4.173%Jul 2, 2026Yield to maturity4.202%Jul 7, 2026Yield to maturity4.240%Jul 9, 2026Yield to maturity4.230%Jul 13, 2026Yield to maturity4.326%Jul 15, 2026Yield to maturity4.211%Jul 17, 2026Yield to maturity4.240%Jul 21, 2026Yield to maturity4.337%Jul 23, 2026Yield to maturity4.424%Jul 27, 2026Yield to maturity4.376%Jul 29, 2026Yield to maturity4.328%Jul 31, 2026Yield to maturity4.396%Aug 4, 2026Yield to maturity4.289%Aug 6, 2026Yield to maturity4.347%Aug 10, 2026Yield to maturity4.348%Aug 12, 2026Yield to maturity4.308%Aug 14, 2026Yield to maturity4.289%Aug 18, 2026Yield to maturity4.299%Aug 20, 2026Yield to maturity4.308%Aug 24, 2026Yield to maturity4.348%Aug 26, 2026Yield to maturity4.318%Aug 28, 2026Yield to maturity4.438%Sep 1, 2026Yield to maturity4.499%Sep 3, 2026Yield to maturity4.449%Sep 8, 2026Yield to maturity4.510%Sep 10, 2026Yield to maturity4.682%Sep 14, 2026Yield to maturity4.755%Sep 16, 2026Yield to maturity4.838%Sep 18, 2026Yield to maturity4.850%Sep 22, 2026Yield to maturity4.830%Sep 24, 2026Yield to maturity5.017%Sep 28, 2026Yield to maturity5.041%Sep 30, 2026Yield to maturity5.031%Oct 2, 2026Yield to maturity5.002%Oct 6, 2026Yield to maturity4.951%Oct 8, 2026Yield to maturity4.921%Oct 13, 2026Yield to maturity4.944%Oct 15, 2026Yield to maturity4.882%Oct 19, 2026Yield to maturity4.884%Oct 21, 2026Yield to maturity4.917%Oct 23, 2026Yield to maturity4.771%Oct 27, 2026Yield to maturity4.814%Oct 29, 2026Yield to maturity4.751%Nov 2, 2026Yield to maturity4.668%Nov 4, 2026Yield to maturity4.647%Nov 6, 2026Yield to maturity4.596%Nov 9, 2026Yield to maturity4.628%

Price history

444 trading days to Nov 9, 2026

979899100101102103Jan 31, 2025Nov 9, 2026Jan 31, 2025Close99.500Feb 4, 2025Close99.719Feb 6, 2025Close99.875Feb 10, 2025Close99.594Feb 12, 2025Close99.000Feb 14, 2025Close99.656Feb 19, 2025Close99.469Feb 21, 2025Close99.969Feb 25, 2025Close100.531Feb 27, 2025Close100.656Mar 3, 2025Close101.219Mar 5, 2025Close100.750Mar 7, 2025Close100.656Mar 11, 2025Close100.938Mar 13, 2025Close100.938Mar 17, 2025Close100.594Mar 19, 2025Close100.938Mar 21, 2025Close101.063Mar 25, 2025Close100.781Mar 27, 2025Close100.656Mar 31, 2025Close101.250Apr 2, 2025Close101.281Apr 4, 2025Close102.313Apr 8, 2025Close101.594Apr 10, 2025Close100.938Apr 14, 2025Close101.000Apr 16, 2025Close101.531Apr 21, 2025Close101.281Apr 23, 2025Close101.063Apr 25, 2025Close101.594Apr 29, 2025Close102.094May 1, 2025Close101.906May 5, 2025Close101.344May 7, 2025Close101.688May 9, 2025Close101.125May 13, 2025Close100.531May 15, 2025Close100.781May 19, 2025Close100.813May 21, 2025Close100.469May 23, 2025Close100.719May 28, 2025Close100.813May 30, 2025Close101.188Jun 3, 2025Close100.938Jun 5, 2025Close101.063Jun 9, 2025Close100.656Jun 11, 2025Close101.000Jun 13, 2025Close101.000Jun 17, 2025Close101.125Jun 20, 2025Close101.250Jun 24, 2025Close101.688Jun 26, 2025Close101.969Jun 30, 2025Close102.000Jul 2, 2025Close101.656Jul 7, 2025Close101.250Jul 9, 2025Close101.438Jul 11, 2025Close101.156Jul 15, 2025Close100.875Jul 17, 2025Close101.094Jul 21, 2025Close101.469Jul 23, 2025Close101.344Jul 25, 2025Close101.313Jul 29, 2025Close101.500Jul 31, 2025Close101.219Aug 4, 2025Close102.156Aug 6, 2025Close102.063Aug 8, 2025Close101.781Aug 12, 2025Close101.813Aug 14, 2025Close101.844Aug 18, 2025Close101.688Aug 20, 2025Close101.875Aug 22, 2025Close102.094Aug 26, 2025Close102.156Aug 28, 2025Close102.313Sep 2, 2025Close102.156Sep 4, 2025Close102.531Sep 8, 2025Close102.844Sep 10, 2025Close102.750Sep 12, 2025Close102.563Sep 16, 2025Close102.719Sep 18, 2025Close102.438Sep 22, 2025Close102.281Sep 24, 2025Close102.219Sep 26, 2025Close102.000Sep 30, 2025Close102.125Oct 2, 2025Close102.375Oct 6, 2025Close102.094Oct 8, 2025Close102.188Oct 10, 2025Close102.500Oct 15, 2025Close102.563Oct 17, 2025Close102.719Oct 21, 2025Close102.844Oct 23, 2025Close102.656Oct 27, 2025Close102.594Oct 29, 2025Close102.219Oct 31, 2025Close102.219Nov 4, 2025Close102.281Nov 6, 2025Close102.313Nov 10, 2025Close102.219Nov 13, 2025Close102.219Nov 17, 2025Close102.156Nov 19, 2025Close102.219Nov 21, 2025Close102.563Nov 25, 2025Close102.750Nov 28, 2025Close102.625Dec 2, 2025Close102.438Dec 4, 2025Close102.344Dec 8, 2025Close102.063Dec 10, 2025Close102.188Dec 12, 2025Close102.125Dec 16, 2025Close102.344Dec 18, 2025Close102.438Dec 22, 2025Close102.250Dec 24, 2025Close102.188Dec 29, 2025Close102.406Dec 31, 2025Close102.219Jan 5, 2026Close102.313Jan 7, 2026Close102.344Jan 9, 2026Close102.094Jan 13, 2026Close102.125Jan 15, 2026Close102.031Jan 20, 2026Close101.719Jan 22, 2026Close101.750Jan 26, 2026Close101.844Jan 28, 2026Close101.813Jan 30, 2026Close101.969Feb 3, 2026Close101.844Feb 5, 2026Close102.156Feb 9, 2026Close102.156Feb 11, 2026Close102.125Feb 13, 2026Close102.625Feb 18, 2026Close102.438Feb 20, 2026Close102.438Feb 24, 2026Close102.594Feb 26, 2026Close102.656Mar 2, 2026Close102.500Mar 4, 2026Close102.281Mar 6, 2026Close102.125Mar 10, 2026Close102.094Mar 12, 2026Close101.469Mar 16, 2026Close101.750Mar 18, 2026Close101.531Mar 20, 2026Close100.969Mar 24, 2026Close100.906Mar 26, 2026Close100.656Mar 30, 2026Close101.156Apr 1, 2026Close101.188Apr 3, 2026Close101.094Apr 7, 2026Close101.219Apr 9, 2026Close101.375Apr 13, 2026Close101.375Apr 15, 2026Close101.438Apr 17, 2026Close101.625Apr 21, 2026Close101.406Apr 23, 2026Close101.188Apr 27, 2026Close101.250Apr 29, 2026Close100.844May 1, 2026Close100.969May 5, 2026Close100.781May 7, 2026Close100.875May 11, 2026Close100.781May 13, 2026Close100.625May 15, 2026Close100.156May 19, 2026Close99.938May 21, 2026Close100.188May 26, 2026Close100.344May 28, 2026Close100.438Jun 1, 2026Close100.375Jun 3, 2026Close100.250Jun 5, 2026Close99.969Jun 9, 2026Close100.094Jun 11, 2026Close100.344Jun 15, 2026Close100.344Jun 17, 2026Close99.969Jun 22, 2026Close99.906Jun 24, 2026Close100.250Jun 26, 2026Close100.438Jun 30, 2026Close100.250Jul 2, 2026Close100.156Jul 7, 2026Close100.031Jul 9, 2026Close100.063Jul 13, 2026Close99.750Jul 15, 2026Close100.125Jul 17, 2026Close100.031Jul 21, 2026Close99.719Jul 23, 2026Close99.438Jul 27, 2026Close99.594Jul 29, 2026Close99.750Jul 31, 2026Close99.531Aug 4, 2026Close99.875Aug 6, 2026Close99.688Aug 10, 2026Close99.688Aug 12, 2026Close99.813Aug 14, 2026Close99.875Aug 18, 2026Close99.844Aug 20, 2026Close99.813Aug 24, 2026Close99.688Aug 26, 2026Close99.781Aug 28, 2026Close99.406Sep 1, 2026Close99.219Sep 3, 2026Close99.375Sep 8, 2026Close99.188Sep 10, 2026Close98.656Sep 14, 2026Close98.438Sep 16, 2026Close98.188Sep 18, 2026Close98.156Sep 22, 2026Close98.219Sep 24, 2026Close97.656Sep 28, 2026Close97.594Sep 30, 2026Close97.625Oct 2, 2026Close97.719Oct 6, 2026Close97.875Oct 8, 2026Close97.969Oct 13, 2026Close97.906Oct 15, 2026Close98.094Oct 19, 2026Close98.094Oct 21, 2026Close98.000Oct 23, 2026Close98.438Oct 27, 2026Close98.313Oct 29, 2026Close98.500Nov 2, 2026Close98.750Nov 4, 2026Close98.813Nov 6, 2026Close98.969Nov 9, 2026Close98.875
The most recent 20 trading days of prices for 91282CMG3.
DateBidOfferClose
Nov 9, 202698.87598.87598.875
Nov 6, 202698.93898.95398.969
Nov 5, 202698.96998.98499.094
Nov 4, 202698.75098.75098.813
Nov 3, 202698.68898.70398.656
Nov 2, 202698.78198.79798.750
Oct 30, 202698.62598.64198.750
Oct 29, 202698.50098.51698.500
Oct 28, 202698.18898.20398.281
Oct 27, 202698.34498.35998.313
Oct 26, 202698.37598.37598.344
Oct 23, 202698.40698.42298.438
Oct 22, 202698.34498.35998.500
Oct 21, 202698.06398.07898.000
Oct 20, 202698.12598.14198.063
Oct 19, 202698.09498.10998.094
Oct 16, 202698.21998.23498.219
Oct 15, 202698.09498.10998.094
Oct 14, 202697.71997.73497.875
Oct 13, 202697.84497.85997.906

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 91282CMG3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 27, 2025Jan 31, 2025New issue$70.0bn$73.9bn2.40x4.330%

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.