Treasury note

91282CRQ6 · 4.875% due October 15, 2029

Original term
3-Year
Maturity
Oct 15, 2029
Coupon
4.875%
Pays
Semi-Annual
Dated
Oct 15, 2026
First coupon
Apr 15, 2027
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$59.38bn
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
4.609%
Modified duration
2.694 yr
DV01
0.0272
Convexity
0.0885
Dirty price
101.067

Where its rate sensitivity sits

<.01
0.01
0.04
0.27
2.43
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 5 of twelve buckets, summing to 2.756 years against a modified duration of 2.694.

Against the fitted curve

Priced 2.3 bp rich to the curve on that day, 6.31 cents per 100 of face.

Not scored against its own history. The z-score is written by a separate pass, and a security needs twenty observations before one is meaningful, so a new issue carries none for roughly its first month. An absent score is not evidence that a security is fairly priced.

Yield to maturity, 18 observations

4.5%4.6%4.7%4.8%4.9%Oct 15, 2026Nov 9, 2026Oct 15, 2026Yield to maturity4.852%Oct 16, 2026Yield to maturity4.818%Oct 19, 2026Yield to maturity4.852%Oct 20, 2026Yield to maturity4.863%Oct 21, 2026Yield to maturity4.886%Oct 22, 2026Yield to maturity4.715%Oct 23, 2026Yield to maturity4.749%Oct 26, 2026Yield to maturity4.783%Oct 27, 2026Yield to maturity4.794%Oct 28, 2026Yield to maturity4.794%Oct 29, 2026Yield to maturity4.725%Oct 30, 2026Yield to maturity4.645%Nov 2, 2026Yield to maturity4.645%Nov 3, 2026Yield to maturity4.679%Nov 4, 2026Yield to maturity4.633%Nov 5, 2026Yield to maturity4.530%Nov 6, 2026Yield to maturity4.586%Nov 9, 2026Yield to maturity4.609%

Price history

18 trading days to Nov 9, 2026

99.8100.0100.2100.4100.6100.8101.0Oct 15, 2026Nov 9, 2026Oct 15, 2026Close100.063Oct 16, 2026Close100.156Oct 19, 2026Close100.063Oct 20, 2026Close100.031Oct 21, 2026Close99.969Oct 22, 2026Close100.438Oct 23, 2026Close100.344Oct 26, 2026Close100.250Oct 27, 2026Close100.219Oct 28, 2026Close100.219Oct 29, 2026Close100.406Oct 30, 2026Close100.625Nov 2, 2026Close100.625Nov 3, 2026Close100.531Nov 4, 2026Close100.656Nov 5, 2026Close100.938Nov 6, 2026Close100.781Nov 9, 2026Close100.719
The most recent 18 trading days of prices for 91282CRQ6.
DateBidOfferClose
Nov 9, 2026100.688100.703100.719
Nov 6, 2026100.781100.781100.781
Nov 5, 2026100.813100.813100.938
Nov 4, 2026100.594100.594100.656
Nov 3, 2026100.563100.563100.531
Nov 2, 2026100.656100.656100.625
Oct 30, 2026100.531100.531100.625
Oct 29, 2026100.438100.438100.406
Oct 28, 2026100.094100.109100.219
Oct 27, 2026100.250100.250100.219
Oct 26, 2026100.281100.281100.250
Oct 23, 2026100.313100.313100.344
Oct 22, 2026100.281100.281100.438
Oct 21, 2026100.031100.03199.969
Oct 20, 2026100.063100.063100.031
Oct 19, 2026100.063100.063100.063
Oct 16, 2026100.156100.172100.156
Oct 15, 2026100.063100.063100.063

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 91282CRQ6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 6, 2026Oct 15, 2026New issue$58.0bn$59.4bn2.62x4.932%

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.