Treasury note

91282CRM5 · 5% due September 30, 2033

Original term
7-Year
Maturity
Sep 30, 2033
Coupon
5.000%
Pays
Semi-Annual
Dated
Sep 30, 2026
First coupon
Mar 31, 2027
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$50.62bn
Held stripped
$41.8m
Share stripped
0.08%

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
4.757%
Modified duration
5.751 yr
DV01
0.0586
Convexity
0.393
Dirty price
101.969

Where its rate sensitivity sits

<.01
0.01
0.04
0.09
0.21
0.66
4.87
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 5.886 years against a modified duration of 5.751.

Against the fitted curve

Priced 2.5 bp cheap to the curve on that day, 14.50 cents per 100 of face.

That is 1.50 standard deviations from its own typical residual.

Yield to maturity, 28 observations

4.6%4.7%4.8%4.9%5.0%5.1%5.2%Sep 30, 2026Nov 9, 2026Sep 30, 2026Yield to maturity5.188%Oct 1, 2026Yield to maturity5.124%Oct 2, 2026Yield to maturity5.167%Oct 5, 2026Yield to maturity5.189%Oct 6, 2026Yield to maturity5.145%Oct 7, 2026Yield to maturity5.151%Oct 8, 2026Yield to maturity5.107%Oct 9, 2026Yield to maturity5.134%Oct 13, 2026Yield to maturity5.107%Oct 14, 2026Yield to maturity5.091%Oct 15, 2026Yield to maturity4.994%Oct 16, 2026Yield to maturity4.978%Oct 19, 2026Yield to maturity5.037%Oct 20, 2026Yield to maturity5.016%Oct 21, 2026Yield to maturity5.032%Oct 22, 2026Yield to maturity4.855%Oct 23, 2026Yield to maturity4.892%Oct 26, 2026Yield to maturity4.903%Oct 27, 2026Yield to maturity4.903%Oct 28, 2026Yield to maturity4.945%Oct 29, 2026Yield to maturity4.870%Oct 30, 2026Yield to maturity4.811%Nov 2, 2026Yield to maturity4.790%Nov 3, 2026Yield to maturity4.827%Nov 4, 2026Yield to maturity4.768%Nov 5, 2026Yield to maturity4.694%Nov 6, 2026Yield to maturity4.736%Nov 9, 2026Yield to maturity4.757%

Price history

28 trading days to Nov 9, 2026

98.599.099.5100.0100.5101.0101.5102.0Sep 30, 2026Nov 9, 2026Sep 30, 2026Close98.906Oct 1, 2026Close99.281Oct 2, 2026Close99.031Oct 5, 2026Close98.906Oct 6, 2026Close99.156Oct 7, 2026Close99.125Oct 8, 2026Close99.375Oct 9, 2026Close99.219Oct 13, 2026Close99.375Oct 14, 2026Close99.469Oct 15, 2026Close100.031Oct 16, 2026Close100.125Oct 19, 2026Close99.781Oct 20, 2026Close99.906Oct 21, 2026Close99.813Oct 22, 2026Close100.844Oct 23, 2026Close100.625Oct 26, 2026Close100.563Oct 27, 2026Close100.563Oct 28, 2026Close100.313Oct 29, 2026Close100.750Oct 30, 2026Close101.094Nov 2, 2026Close101.219Nov 3, 2026Close101.000Nov 4, 2026Close101.344Nov 5, 2026Close101.781Nov 6, 2026Close101.531Nov 9, 2026Close101.406
The most recent 20 trading days of prices for 91282CRM5.
DateBidOfferClose
Nov 9, 2026101.406101.422101.406
Nov 6, 2026101.500101.516101.531
Nov 5, 2026101.625101.641101.781
Nov 4, 2026101.188101.188101.344
Nov 3, 2026101.063101.063101.000
Nov 2, 2026101.344101.344101.219
Oct 30, 2026100.969100.969101.094
Oct 29, 2026100.750100.750100.750
Oct 28, 2026100.344100.344100.313
Oct 27, 2026100.594100.594100.563
Oct 26, 2026100.594100.594100.563
Oct 23, 2026100.625100.625100.625
Oct 22, 2026100.531100.531100.844
Oct 21, 202699.93899.95399.813
Oct 20, 202699.96999.96999.906
Oct 19, 202699.87599.87599.781
Oct 16, 2026100.125100.141100.125
Oct 15, 2026100.000100.000100.031
Oct 14, 202699.09499.09499.469
Oct 13, 202699.34499.34499.375

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 91282CRM5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 24, 2026Sep 30, 2026New issue$44.0bn$50.6bn2.42x5.085%

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.