Treasury note

91282CPY1 · 4% due January 31, 2033

Original term
7-Year
Maturity
Jan 31, 2033
Coupon
4.000%
Pays
Semi-Annual
Dated
Jan 31, 2026
First coupon
Jul 31, 2026
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$47.10bn
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, September 10, 2026

Yield to maturity
4.826%
Modified duration
5.520 yr
DV01
0.0530
Convexity
35.631
Dirty price
95.957

Where its rate sensitivity sits

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 5.654 years against a modified duration of 5.520.

Against the fitted curve

Priced 2.9 bp cheap to the curve on that day, 15.54 cents per 100 of face.

That is 0.81 standard deviations from its own typical residual.

Yield to maturity, 154 observations

3.6%3.8%4.0%4.2%4.4%4.6%4.8%5.0%Feb 2, 2026Sep 10, 2026Feb 2, 2026Yield to maturity4.052%Feb 6, 2026Yield to maturity3.974%Feb 12, 2026Yield to maturity3.871%Feb 19, 2026Yield to maturity3.839%Feb 25, 2026Yield to maturity3.813%Mar 3, 2026Yield to maturity3.823%Mar 9, 2026Yield to maturity3.895%Mar 13, 2026Yield to maturity4.062%Mar 19, 2026Yield to maturity4.052%Mar 25, 2026Yield to maturity4.142%Mar 31, 2026Yield to maturity4.105%Apr 6, 2026Yield to maturity4.153%Apr 10, 2026Yield to maturity4.111%Apr 16, 2026Yield to maturity4.090%Apr 22, 2026Yield to maturity4.084%Apr 28, 2026Yield to maturity4.149%May 4, 2026Yield to maturity4.247%May 8, 2026Yield to maturity4.171%May 14, 2026Yield to maturity4.275%May 20, 2026Yield to maturity4.374%May 27, 2026Yield to maturity4.304%Jun 2, 2026Yield to maturity4.293%Jun 8, 2026Yield to maturity4.399%Jun 12, 2026Yield to maturity4.322%Jun 18, 2026Yield to maturity4.323%Jun 25, 2026Yield to maturity4.246%Jul 1, 2026Yield to maturity4.336%Jul 8, 2026Yield to maturity4.409%Jul 14, 2026Yield to maturity4.416%Jul 20, 2026Yield to maturity4.428%Jul 24, 2026Yield to maturity4.526%Jul 30, 2026Yield to maturity4.498%Aug 5, 2026Yield to maturity4.442%Aug 11, 2026Yield to maturity4.512%Aug 17, 2026Yield to maturity4.501%Aug 21, 2026Yield to maturity4.537%Aug 27, 2026Yield to maturity4.491%Sep 2, 2026Yield to maturity4.637%Sep 9, 2026Yield to maturity4.691%Sep 10, 2026Yield to maturity4.826%

Price history

154 trading days to Sep 10, 2026

9596979899100101102Feb 2, 2026Sep 10, 2026Feb 2, 2026Close99.688Feb 6, 2026Close100.156Feb 12, 2026Close100.781Feb 19, 2026Close100.969Feb 25, 2026Close101.125Mar 3, 2026Close101.063Mar 9, 2026Close100.625Mar 13, 2026Close99.625Mar 19, 2026Close99.688Mar 25, 2026Close99.156Mar 31, 2026Close99.375Apr 6, 2026Close99.094Apr 10, 2026Close99.344Apr 16, 2026Close99.469Apr 22, 2026Close99.500Apr 28, 2026Close99.125May 4, 2026Close98.563May 8, 2026Close99.000May 14, 2026Close98.406May 20, 2026Close97.844May 27, 2026Close98.250Jun 2, 2026Close98.313Jun 8, 2026Close97.719Jun 12, 2026Close98.156Jun 18, 2026Close98.156Jun 25, 2026Close98.594Jul 1, 2026Close98.094Jul 8, 2026Close97.688Jul 14, 2026Close97.656Jul 20, 2026Close97.594Jul 24, 2026Close97.063Jul 30, 2026Close97.219Aug 5, 2026Close97.531Aug 11, 2026Close97.156Aug 17, 2026Close97.219Aug 21, 2026Close97.031Aug 27, 2026Close97.281Sep 2, 2026Close96.500Sep 9, 2026Close96.219Sep 10, 2026Close95.500
The most recent 20 trading days of prices for 91282CPY1.
DateBidOfferClose
Sep 10, 202695.70395.68895.500
Sep 9, 202696.17296.15696.219
Sep 8, 202696.48496.46996.406
Sep 4, 202696.59496.59496.531
Sep 3, 202696.76696.75096.656
Sep 2, 202696.48496.46996.500
Sep 1, 202696.64196.62596.469
Aug 31, 202696.73496.71996.750
Aug 28, 202697.01697.00096.844
Aug 27, 202697.39197.37597.281
Aug 26, 202697.39197.37597.344
Aug 25, 202697.48497.46997.531
Aug 24, 202697.26697.25097.156
Aug 21, 202697.04797.03197.031
Aug 20, 202697.23497.21997.250
Aug 19, 202697.42297.40697.500
Aug 18, 202697.25097.25097.250
Aug 17, 202697.29797.28197.219
Aug 14, 202697.39197.37597.313
Aug 13, 202697.57897.56397.563

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

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 91282CPY1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 29, 2026Feb 2, 2026New issue$44.0bn$47.1bn2.45x4.018%

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.