Treasury note

91282CMM0 · 4.625% due February 15, 2035

Original term
10-Year
Maturity
Feb 15, 2035
Coupon
4.625%
Pays
Semi-Annual
Dated
Feb 15, 2025
First coupon
Aug 15, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$138.49bn
Held stripped
$48.3m
Share stripped
0.03%

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
4.823%
Modified duration
6.714 yr
DV01
0.0670
Convexity
0.54
Dirty price
99.750

Where its rate sensitivity sits

0.01
0.01
0.04
0.08
0.20
0.36
3.72
2.45
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 8 of twelve buckets, summing to 6.874 years against a modified duration of 6.714.

Against the fitted curve

Priced 3.2 bp cheap to the curve on that day, 21.35 cents per 100 of face.

That is 1.21 standard deviations from its own typical residual.

Yield to maturity, 433 observations

3.75%4.00%4.25%4.50%4.75%5.00%5.25%5.50%Feb 18, 2025Nov 9, 2026Feb 18, 2025Yield to maturity4.554%Feb 20, 2025Yield to maturity4.503%Feb 24, 2025Yield to maturity4.398%Feb 26, 2025Yield to maturity4.245%Feb 28, 2025Yield to maturity4.233%Mar 4, 2025Yield to maturity4.218%Mar 6, 2025Yield to maturity4.286%Mar 10, 2025Yield to maturity4.217%Mar 12, 2025Yield to maturity4.316%Mar 14, 2025Yield to maturity4.312%Mar 18, 2025Yield to maturity4.281%Mar 20, 2025Yield to maturity4.231%Mar 24, 2025Yield to maturity4.331%Mar 26, 2025Yield to maturity4.342%Mar 28, 2025Yield to maturity4.261%Apr 1, 2025Yield to maturity4.161%Apr 3, 2025Yield to maturity4.051%Apr 7, 2025Yield to maturity4.134%Apr 9, 2025Yield to maturity4.341%Apr 11, 2025Yield to maturity4.474%Apr 15, 2025Yield to maturity4.337%Apr 17, 2025Yield to maturity4.329%Apr 22, 2025Yield to maturity4.395%Apr 24, 2025Yield to maturity4.309%Apr 28, 2025Yield to maturity4.216%Apr 30, 2025Yield to maturity4.150%May 2, 2025Yield to maturity4.312%May 6, 2025Yield to maturity4.304%May 8, 2025Yield to maturity4.374%May 12, 2025Yield to maturity4.449%May 14, 2025Yield to maturity4.528%May 16, 2025Yield to maturity4.429%May 20, 2025Yield to maturity4.476%May 22, 2025Yield to maturity4.536%May 27, 2025Yield to maturity4.429%May 29, 2025Yield to maturity4.421%Jun 2, 2025Yield to maturity4.448%Jun 4, 2025Yield to maturity4.353%Jun 6, 2025Yield to maturity4.504%Jun 10, 2025Yield to maturity4.460%Jun 12, 2025Yield to maturity4.349%Jun 16, 2025Yield to maturity4.444%Jun 18, 2025Yield to maturity4.368%Jun 23, 2025Yield to maturity4.321%Jun 25, 2025Yield to maturity4.269%Jun 27, 2025Yield to maturity4.273%Jul 1, 2025Yield to maturity4.238%Jul 3, 2025Yield to maturity4.332%Jul 8, 2025Yield to maturity4.399%Jul 10, 2025Yield to maturity4.335%Jul 14, 2025Yield to maturity4.411%Jul 16, 2025Yield to maturity4.439%Jul 18, 2025Yield to maturity4.411%Jul 22, 2025Yield to maturity4.323%Jul 24, 2025Yield to maturity4.398%Jul 28, 2025Yield to maturity4.398%Jul 30, 2025Yield to maturity4.354%Aug 1, 2025Yield to maturity4.199%Aug 5, 2025Yield to maturity4.188%Aug 7, 2025Yield to maturity4.215%Aug 11, 2025Yield to maturity4.242%Aug 13, 2025Yield to maturity4.207%Aug 15, 2025Yield to maturity4.293%Aug 19, 2025Yield to maturity4.269%Aug 21, 2025Yield to maturity4.297%Aug 25, 2025Yield to maturity4.245%Aug 27, 2025Yield to maturity4.201%Aug 29, 2025Yield to maturity4.181%Sep 3, 2025Yield to maturity4.177%Sep 5, 2025Yield to maturity4.050%Sep 9, 2025Yield to maturity4.034%Sep 11, 2025Yield to maturity3.971%Sep 15, 2025Yield to maturity3.998%Sep 17, 2025Yield to maturity4.013%Sep 19, 2025Yield to maturity4.091%Sep 23, 2025Yield to maturity4.071%Sep 25, 2025Yield to maturity4.130%Sep 29, 2025Yield to maturity4.106%Oct 1, 2025Yield to maturity4.074%Oct 3, 2025Yield to maturity4.086%Oct 7, 2025Yield to maturity4.093%Oct 9, 2025Yield to maturity4.109%Oct 14, 2025Yield to maturity3.986%Oct 16, 2025Yield to maturity3.934%Oct 20, 2025Yield to maturity3.949%Oct 22, 2025Yield to maturity3.918%Oct 24, 2025Yield to maturity3.964%Oct 28, 2025Yield to maturity3.944%Oct 30, 2025Yield to maturity4.062%Nov 3, 2025Yield to maturity4.078%Nov 5, 2025Yield to maturity4.121%Nov 7, 2025Yield to maturity4.053%Nov 12, 2025Yield to maturity4.033%Nov 14, 2025Yield to maturity4.100%Nov 18, 2025Yield to maturity4.068%Nov 20, 2025Yield to maturity4.048%Nov 24, 2025Yield to maturity3.983%Nov 26, 2025Yield to maturity3.939%Dec 1, 2025Yield to maturity4.034%Dec 3, 2025Yield to maturity3.998%Dec 5, 2025Yield to maturity4.077%Dec 9, 2025Yield to maturity4.125%Dec 11, 2025Yield to maturity4.085%Dec 15, 2025Yield to maturity4.117%Dec 17, 2025Yield to maturity4.092%Dec 19, 2025Yield to maturity4.088%Dec 23, 2025Yield to maturity4.108%Dec 26, 2025Yield to maturity4.075%Dec 30, 2025Yield to maturity4.070%Jan 2, 2026Yield to maturity4.126%Jan 6, 2026Yield to maturity4.114%Jan 8, 2026Yield to maturity4.122%Jan 12, 2026Yield to maturity4.126%Jan 14, 2026Yield to maturity4.081%Jan 16, 2026Yield to maturity4.174%Jan 21, 2026Yield to maturity4.198%Jan 23, 2026Yield to maturity4.177%Jan 27, 2026Yield to maturity4.177%Jan 29, 2026Yield to maturity4.173%Feb 2, 2026Yield to maturity4.218%Feb 4, 2026Yield to maturity4.222%Feb 6, 2026Yield to maturity4.147%Feb 10, 2026Yield to maturity4.086%Feb 12, 2026Yield to maturity4.037%Feb 17, 2026Yield to maturity3.987%Feb 19, 2026Yield to maturity4.007%Feb 23, 2026Yield to maturity3.962%Feb 25, 2026Yield to maturity3.982%Feb 27, 2026Yield to maturity3.896%Mar 3, 2026Yield to maturity3.989%Mar 5, 2026Yield to maturity4.066%Mar 9, 2026Yield to maturity4.049%Mar 11, 2026Yield to maturity4.143%Mar 13, 2026Yield to maturity4.218%Mar 17, 2026Yield to maturity4.134%Mar 19, 2026Yield to maturity4.192%Mar 23, 2026Yield to maturity4.284%Mar 25, 2026Yield to maturity4.271%Mar 27, 2026Yield to maturity4.389%Mar 31, 2026Yield to maturity4.245%Apr 2, 2026Yield to maturity4.253%Apr 6, 2026Yield to maturity4.286%Apr 8, 2026Yield to maturity4.236%Apr 10, 2026Yield to maturity4.256%Apr 14, 2026Yield to maturity4.193%Apr 16, 2026Yield to maturity4.243%Apr 20, 2026Yield to maturity4.184%Apr 22, 2026Yield to maturity4.230%Apr 24, 2026Yield to maturity4.238%Apr 28, 2026Yield to maturity4.293%Apr 30, 2026Yield to maturity4.327%May 4, 2026Yield to maturity4.386%May 6, 2026Yield to maturity4.292%May 8, 2026Yield to maturity4.309%May 12, 2026Yield to maturity4.407%May 14, 2026Yield to maturity4.407%May 18, 2026Yield to maturity4.545%May 20, 2026Yield to maturity4.506%May 22, 2026Yield to maturity4.506%May 27, 2026Yield to maturity4.424%May 29, 2026Yield to maturity4.389%Jun 2, 2026Yield to maturity4.402%Jun 4, 2026Yield to maturity4.419%Jun 8, 2026Yield to maturity4.510%Jun 10, 2026Yield to maturity4.497%Jun 12, 2026Yield to maturity4.436%Jun 16, 2026Yield to maturity4.375%Jun 18, 2026Yield to maturity4.414%Jun 23, 2026Yield to maturity4.457%Jun 25, 2026Yield to maturity4.348%Jun 29, 2026Yield to maturity4.331%Jul 1, 2026Yield to maturity4.431%Jul 6, 2026Yield to maturity4.426%Jul 8, 2026Yield to maturity4.514%Jul 10, 2026Yield to maturity4.514%Jul 14, 2026Yield to maturity4.523%Jul 16, 2026Yield to maturity4.509%Jul 20, 2026Yield to maturity4.536%Jul 22, 2026Yield to maturity4.616%Jul 24, 2026Yield to maturity4.629%Jul 28, 2026Yield to maturity4.553%Jul 30, 2026Yield to maturity4.616%Aug 3, 2026Yield to maturity4.629%Aug 5, 2026Yield to maturity4.562%Aug 7, 2026Yield to maturity4.580%Aug 11, 2026Yield to maturity4.629%Aug 13, 2026Yield to maturity4.567%Aug 17, 2026Yield to maturity4.647%Aug 19, 2026Yield to maturity4.580%Aug 21, 2026Yield to maturity4.665%Aug 25, 2026Yield to maturity4.571%Aug 27, 2026Yield to maturity4.611%Aug 31, 2026Yield to maturity4.697%Sep 2, 2026Yield to maturity4.738%Sep 4, 2026Yield to maturity4.729%Sep 9, 2026Yield to maturity4.784%Sep 11, 2026Yield to maturity4.931%Sep 15, 2026Yield to maturity4.964%Sep 17, 2026Yield to maturity4.908%Sep 21, 2026Yield to maturity4.937%Sep 23, 2026Yield to maturity5.096%Sep 25, 2026Yield to maturity5.139%Sep 29, 2026Yield to maturity5.229%Oct 1, 2026Yield to maturity5.201%Oct 5, 2026Yield to maturity5.269%Oct 7, 2026Yield to maturity5.235%Oct 9, 2026Yield to maturity5.207%Oct 14, 2026Yield to maturity5.160%Oct 16, 2026Yield to maturity5.051%Oct 20, 2026Yield to maturity5.085%Oct 22, 2026Yield to maturity4.920%Oct 26, 2026Yield to maturity4.967%Oct 28, 2026Yield to maturity5.010%Oct 30, 2026Yield to maturity4.883%Nov 3, 2026Yield to maturity4.898%Nov 5, 2026Yield to maturity4.767%Nov 9, 2026Yield to maturity4.823%

Price history

433 trading days to Nov 9, 2026

949698100102104106Feb 18, 2025Nov 9, 2026Feb 18, 2025Close100.563Feb 20, 2025Close100.969Feb 24, 2025Close101.813Feb 26, 2025Close103.063Feb 28, 2025Close103.156Mar 4, 2025Close103.281Mar 6, 2025Close102.719Mar 10, 2025Close103.281Mar 12, 2025Close102.469Mar 14, 2025Close102.500Mar 18, 2025Close102.750Mar 20, 2025Close103.156Mar 24, 2025Close102.344Mar 26, 2025Close102.250Mar 28, 2025Close102.906Apr 1, 2025Close103.719Apr 3, 2025Close104.625Apr 7, 2025Close103.938Apr 9, 2025Close102.250Apr 11, 2025Close101.188Apr 15, 2025Close102.281Apr 17, 2025Close102.344Apr 22, 2025Close101.813Apr 24, 2025Close102.500Apr 28, 2025Close103.250Apr 30, 2025Close103.781May 2, 2025Close102.469May 6, 2025Close102.531May 8, 2025Close101.969May 12, 2025Close101.375May 14, 2025Close100.750May 16, 2025Close101.531May 20, 2025Close101.156May 22, 2025Close100.688May 27, 2025Close101.531May 29, 2025Close101.594Jun 2, 2025Close101.375Jun 4, 2025Close102.125Jun 6, 2025Close100.938Jun 10, 2025Close101.281Jun 12, 2025Close102.156Jun 16, 2025Close101.406Jun 18, 2025Close102.000Jun 23, 2025Close102.375Jun 25, 2025Close102.781Jun 27, 2025Close102.750Jul 1, 2025Close103.031Jul 3, 2025Close102.281Jul 8, 2025Close101.750Jul 10, 2025Close102.250Jul 14, 2025Close101.656Jul 16, 2025Close101.438Jul 18, 2025Close101.656Jul 22, 2025Close102.344Jul 24, 2025Close101.750Jul 28, 2025Close101.750Jul 30, 2025Close102.094Aug 1, 2025Close103.313Aug 5, 2025Close103.406Aug 7, 2025Close103.188Aug 11, 2025Close102.969Aug 13, 2025Close103.250Aug 15, 2025Close102.563Aug 19, 2025Close102.750Aug 21, 2025Close102.531Aug 25, 2025Close102.938Aug 27, 2025Close103.281Aug 29, 2025Close103.438Sep 3, 2025Close103.469Sep 5, 2025Close104.469Sep 9, 2025Close104.594Sep 11, 2025Close105.094Sep 15, 2025Close104.875Sep 17, 2025Close104.750Sep 19, 2025Close104.125Sep 23, 2025Close104.281Sep 25, 2025Close103.813Sep 29, 2025Close104.000Oct 1, 2025Close104.250Oct 3, 2025Close104.156Oct 7, 2025Close104.094Oct 9, 2025Close103.969Oct 14, 2025Close104.938Oct 16, 2025Close105.344Oct 20, 2025Close105.219Oct 22, 2025Close105.469Oct 24, 2025Close105.094Oct 28, 2025Close105.250Oct 30, 2025Close104.313Nov 3, 2025Close104.188Nov 5, 2025Close103.844Nov 7, 2025Close104.375Nov 12, 2025Close104.531Nov 14, 2025Close104.000Nov 18, 2025Close104.250Nov 20, 2025Close104.406Nov 24, 2025Close104.906Nov 26, 2025Close105.250Dec 1, 2025Close104.500Dec 3, 2025Close104.781Dec 5, 2025Close104.156Dec 9, 2025Close103.781Dec 11, 2025Close104.094Dec 15, 2025Close103.844Dec 17, 2025Close104.031Dec 19, 2025Close104.063Dec 23, 2025Close103.906Dec 26, 2025Close104.156Dec 30, 2025Close104.188Jan 2, 2026Close103.750Jan 6, 2026Close103.844Jan 8, 2026Close103.781Jan 12, 2026Close103.750Jan 14, 2026Close104.094Jan 16, 2026Close103.375Jan 21, 2026Close103.188Jan 23, 2026Close103.344Jan 27, 2026Close103.344Jan 29, 2026Close103.375Feb 2, 2026Close103.031Feb 4, 2026Close103.000Feb 6, 2026Close103.563Feb 10, 2026Close104.031Feb 12, 2026Close104.406Feb 17, 2026Close104.781Feb 19, 2026Close104.625Feb 23, 2026Close104.969Feb 25, 2026Close104.813Feb 27, 2026Close105.469Mar 3, 2026Close104.750Mar 5, 2026Close104.156Mar 9, 2026Close104.281Mar 11, 2026Close103.563Mar 13, 2026Close103.000Mar 17, 2026Close103.625Mar 19, 2026Close103.188Mar 23, 2026Close102.500Mar 25, 2026Close102.594Mar 27, 2026Close101.719Mar 31, 2026Close102.781Apr 2, 2026Close102.719Apr 6, 2026Close102.469Apr 8, 2026Close102.844Apr 10, 2026Close102.688Apr 14, 2026Close103.156Apr 16, 2026Close102.781Apr 20, 2026Close103.219Apr 22, 2026Close102.875Apr 24, 2026Close102.813Apr 28, 2026Close102.406Apr 30, 2026Close102.156May 4, 2026Close101.719May 6, 2026Close102.406May 8, 2026Close102.281May 12, 2026Close101.563May 14, 2026Close101.563May 18, 2026Close100.563May 20, 2026Close100.844May 22, 2026Close100.844May 27, 2026Close101.438May 29, 2026Close101.688Jun 2, 2026Close101.594Jun 4, 2026Close101.469Jun 8, 2026Close100.813Jun 10, 2026Close100.906Jun 12, 2026Close101.344Jun 16, 2026Close101.781Jun 18, 2026Close101.500Jun 23, 2026Close101.188Jun 25, 2026Close101.969Jun 29, 2026Close102.094Jul 1, 2026Close101.375Jul 6, 2026Close101.406Jul 8, 2026Close100.781Jul 10, 2026Close100.781Jul 14, 2026Close100.719Jul 16, 2026Close100.813Jul 20, 2026Close100.625Jul 22, 2026Close100.063Jul 24, 2026Close99.969Jul 28, 2026Close100.500Jul 30, 2026Close100.063Aug 3, 2026Close99.969Aug 5, 2026Close100.438Aug 7, 2026Close100.313Aug 11, 2026Close99.969Aug 13, 2026Close100.406Aug 17, 2026Close99.844Aug 19, 2026Close100.313Aug 21, 2026Close99.719Aug 25, 2026Close100.375Aug 27, 2026Close100.094Aug 31, 2026Close99.500Sep 2, 2026Close99.219Sep 4, 2026Close99.281Sep 9, 2026Close98.906Sep 11, 2026Close97.906Sep 15, 2026Close97.688Sep 17, 2026Close98.063Sep 21, 2026Close97.875Sep 23, 2026Close96.813Sep 25, 2026Close96.531Sep 29, 2026Close95.938Oct 1, 2026Close96.125Oct 5, 2026Close95.688Oct 7, 2026Close95.906Oct 9, 2026Close96.094Oct 14, 2026Close96.406Oct 16, 2026Close97.125Oct 20, 2026Close96.906Oct 22, 2026Close98.000Oct 26, 2026Close97.688Oct 28, 2026Close97.406Oct 30, 2026Close98.250Nov 3, 2026Close98.156Nov 5, 2026Close99.031Nov 9, 2026Close98.656
The most recent 20 trading days of prices for 91282CMM0.
DateBidOfferClose
Nov 9, 202698.65698.67298.656
Nov 6, 202698.78198.79798.781
Nov 5, 202698.90698.92299.031
Nov 4, 202698.37598.39198.563
Nov 3, 202698.21998.23498.156
Nov 2, 202698.56398.57898.406
Oct 30, 202698.12598.14198.250
Oct 29, 202697.87597.90697.875
Oct 28, 202697.50097.51697.406
Oct 27, 202697.75097.76697.750
Oct 26, 202697.71997.75097.688
Oct 23, 202697.71997.75097.719
Oct 22, 202697.62597.64198.000
Oct 21, 202696.96996.98496.844
Oct 20, 202697.00097.00096.906
Oct 19, 202696.84496.85996.719
Oct 16, 202697.15697.17297.125
Oct 15, 202697.00097.03197.031
Oct 14, 202696.00096.01696.406
Oct 13, 202696.25096.26696.281

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.

3 auctions

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 91282CMM0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 12, 2025Feb 18, 2025New issue$42.0bn$53.5bn2.48x4.632%
Mar 12, 2025Mar 17, 2025Reopening$39.0bn$39.7bn2.59x4.310%
Apr 9, 2025Apr 15, 2025Reopening$39.0bn$45.5bn2.67x4.435%

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.