Inflation-linked (TIPS)

912810FH6 · 3.875% due April 15, 2029

Original term
30-Year
Maturity
Apr 15, 2029
Coupon
3.875%
Pays
Semi-Annual
Dated
Apr 15, 1999
First coupon
Oct 15, 1999
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$39.15bn
Held stripped
$12.2m
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. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, September 9, 2026

An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.

Real yield
2.169%
Index ratio
2.0314
Real duration
2.434 yr
DV01
0.0258
Convexity
7.355
Real clean price
104.281
Accrued (real)
1.567
Real dirty price
105.848
Indexed principal
203.136
Money clean price
211.833

The index ratio is a multiplier, not a percentage: 2.0314 means the principal is worth that many times its original face today. So the real clean price of 104.281 is not what a buyer pays , multiply by the ratio to get 211.833 per 100 of original face.

Against the fitted real curve

Priced 8.9 bp cheap to the real curve on that day, 22.92 cents per 100 of face.

Not scored against its own history. A linker needs twenty observations before a score means anything.

Real yield, 4,508 observations

-2%-1%0%1%2%3%4%Sep 2, 2008Sep 9, 2026Sep 2, 2008Real yield2.178%Sep 29, 2008Real yield2.418%Oct 27, 2008Real yield3.235%Nov 24, 2008Real yield3.460%Dec 22, 2008Real yield2.257%Jan 21, 2009Real yield2.735%Feb 18, 2009Real yield2.356%Mar 17, 2009Real yield2.627%Apr 14, 2009Real yield2.335%May 11, 2009Real yield2.500%Jun 8, 2009Real yield2.577%Jul 6, 2009Real yield2.352%Jul 31, 2009Real yield2.306%Aug 27, 2009Real yield2.213%Sep 24, 2009Real yield2.166%Oct 22, 2009Real yield2.109%Nov 19, 2009Real yield1.876%Dec 17, 2009Real yield1.965%Jan 15, 2010Real yield2.024%Feb 12, 2010Real yield2.135%Mar 12, 2010Real yield2.118%Apr 8, 2010Real yield2.103%May 5, 2010Real yield1.816%Jun 1, 2010Real yield1.817%Jun 28, 2010Real yield1.737%Jul 26, 2010Real yield1.892%Aug 20, 2010Real yield1.651%Sep 17, 2010Real yield1.614%Oct 15, 2010Real yield1.247%Nov 12, 2010Real yield1.388%Dec 10, 2010Real yield1.802%Jan 7, 2011Real yield1.730%Feb 4, 2011Real yield2.010%Mar 4, 2011Real yield1.728%Mar 31, 2011Real yield1.701%Apr 28, 2011Real yield1.529%May 25, 2011Real yield1.542%Jun 22, 2011Real yield1.564%Jul 20, 2011Real yield1.312%Aug 16, 2011Real yield0.712%Sep 13, 2011Real yield0.723%Oct 11, 2011Real yield0.784%Nov 7, 2011Real yield0.421%Dec 6, 2011Real yield0.550%Jan 4, 2012Real yield0.514%Feb 1, 2012Real yield0.319%Feb 29, 2012Real yield0.350%Mar 27, 2012Real yield0.509%Apr 23, 2012Real yield0.310%May 18, 2012Real yield0.135%Jun 15, 2012Real yield0.046%Jul 13, 2012Real yield-0.048%Aug 9, 2012Real yield0.027%Sep 6, 2012Real yield0.027%Oct 3, 2012Real yield-0.170%Nov 1, 2012Real yield-0.156%Nov 30, 2012Real yield-0.184%Dec 28, 2012Real yield-0.159%Jan 28, 2013Real yield-0.003%Feb 25, 2013Real yield-0.008%Mar 22, 2013Real yield0.012%Apr 19, 2013Real yield-0.118%May 16, 2013Real yield0.098%Jun 13, 2013Real yield0.699%Jul 11, 2013Real yield0.973%Aug 7, 2013Real yield0.810%Sep 4, 2013Real yield1.191%Oct 1, 2013Real yield0.895%Oct 29, 2013Real yield0.819%Nov 26, 2013Real yield1.012%Dec 24, 2013Real yield1.201%Jan 23, 2014Real yield0.980%Feb 20, 2014Real yield1.007%Mar 19, 2014Real yield0.976%Apr 15, 2014Real yield0.832%May 13, 2014Real yield0.748%Jun 10, 2014Real yield0.765%Jul 8, 2014Real yield0.641%Aug 4, 2014Real yield0.564%Aug 29, 2014Real yield0.504%Sep 29, 2014Real yield0.832%Oct 27, 2014Real yield0.664%Nov 25, 2014Real yield0.668%Dec 23, 2014Real yield0.709%Jan 22, 2015Real yield0.489%Feb 19, 2015Real yield0.625%Mar 18, 2015Real yield0.423%Apr 14, 2015Real yield0.362%May 11, 2015Real yield0.654%Jun 8, 2015Real yield0.764%Jul 6, 2015Real yield0.659%Jul 31, 2015Real yield0.663%Aug 27, 2015Real yield0.841%Sep 24, 2015Real yield0.880%Oct 22, 2015Real yield0.798%Nov 19, 2015Real yield0.874%Dec 17, 2015Real yield0.964%Jan 15, 2016Real yield0.916%Feb 12, 2016Real yield0.754%Mar 11, 2016Real yield0.753%Apr 8, 2016Real yield0.425%May 5, 2016Real yield0.413%Jun 2, 2016Real yield0.519%Jun 29, 2016Real yield0.358%Jul 27, 2016Real yield0.337%Aug 23, 2016Real yield0.310%Sep 20, 2016Real yield0.459%Oct 18, 2016Real yield0.353%Nov 15, 2016Real yield0.647%Dec 13, 2016Real yield0.768%Jan 11, 2017Real yield0.623%Feb 8, 2017Real yield0.551%Mar 8, 2017Real yield0.698%Apr 4, 2017Real yield0.554%May 2, 2017Real yield0.557%May 30, 2017Real yield0.533%Jun 26, 2017Real yield0.557%Jul 24, 2017Real yield0.653%Aug 18, 2017Real yield0.592%Sep 15, 2017Real yield0.514%Oct 13, 2017Real yield0.583%Nov 9, 2017Real yield0.598%Dec 7, 2017Real yield0.625%Jan 5, 2018Real yield0.566%Feb 2, 2018Real yield0.773%Mar 2, 2018Real yield0.788%Mar 29, 2018Real yield0.747%Apr 26, 2018Real yield0.877%May 23, 2018Real yield0.917%Jun 20, 2018Real yield0.861%Jul 18, 2018Real yield0.833%Aug 14, 2018Real yield0.879%Sep 11, 2018Real yield0.939%Oct 9, 2018Real yield1.117%Nov 5, 2018Real yield1.221%Dec 4, 2018Real yield1.056%Jan 3, 2019Real yield0.959%Jan 31, 2019Real yield0.819%Feb 28, 2019Real yield0.822%Mar 27, 2019Real yield0.591%Apr 24, 2019Real yield0.592%May 21, 2019Real yield0.627%Jun 18, 2019Real yield0.450%Jul 16, 2019Real yield0.361%Aug 12, 2019Real yield0.115%Sep 9, 2019Real yield0.153%Oct 4, 2019Real yield0.110%Nov 1, 2019Real yield0.214%Dec 2, 2019Real yield0.262%Dec 30, 2019Real yield0.223%Jan 28, 2020Real yield0.046%Feb 25, 2020Real yield-0.170%Mar 23, 2020Real yield0.177%Apr 20, 2020Real yield-0.126%May 15, 2020Real yield-0.305%Jun 12, 2020Real yield-0.480%Jul 10, 2020Real yield-0.778%Aug 6, 2020Real yield-1.084%Sep 2, 2020Real yield-1.106%Sep 30, 2020Real yield-1.002%Oct 28, 2020Real yield-0.982%Nov 25, 2020Real yield-0.946%Dec 23, 2020Real yield-1.126%Jan 22, 2021Real yield-1.205%Feb 19, 2021Real yield-1.094%Mar 18, 2021Real yield-0.892%Apr 14, 2021Real yield-1.020%May 11, 2021Real yield-1.247%Jun 8, 2021Real yield-1.144%Jul 6, 2021Real yield-1.196%Aug 2, 2021Real yield-1.480%Aug 27, 2021Real yield-1.351%Sep 24, 2021Real yield-1.130%Oct 22, 2021Real yield-1.238%Nov 19, 2021Real yield-1.386%Dec 17, 2021Real yield-1.158%Jan 14, 2022Real yield-0.859%Feb 11, 2022Real yield-0.690%Mar 11, 2022Real yield-1.153%Apr 7, 2022Real yield-0.214%May 5, 2022Real yield0.110%Jun 2, 2022Real yield0.247%Jun 30, 2022Real yield0.702%Jul 28, 2022Real yield0.212%Aug 24, 2022Real yield0.553%Sep 21, 2022Real yield1.294%Oct 19, 2022Real yield1.953%Nov 16, 2022Real yield1.613%Dec 14, 2022Real yield1.545%Jan 12, 2023Real yield1.451%Feb 9, 2023Real yield1.523%Mar 9, 2023Real yield1.845%Apr 5, 2023Real yield1.141%May 2, 2023Real yield1.327%May 30, 2023Real yield1.697%Jun 27, 2023Real yield1.913%Jul 25, 2023Real yield1.895%Aug 21, 2023Real yield2.229%Sep 18, 2023Real yield2.175%Oct 16, 2023Real yield2.433%Nov 10, 2023Real yield2.480%Dec 8, 2023Real yield2.223%Jan 8, 2024Real yield1.889%Feb 5, 2024Real yield1.953%Mar 4, 2024Real yield1.878%Mar 29, 2024Real yield1.914%Apr 25, 2024Real yield2.283%May 22, 2024Real yield2.158%Jun 20, 2024Real yield2.073%Jul 18, 2024Real yield1.940%Aug 14, 2024Real yield1.759%Sep 11, 2024Real yield1.559%Oct 8, 2024Real yield1.695%Nov 5, 2024Real yield1.955%Dec 4, 2024Real yield1.801%Jan 2, 2025Real yield2.065%Jan 30, 2025Real yield1.871%Feb 27, 2025Real yield1.552%Mar 26, 2025Real yield1.536%Apr 22, 2025Real yield1.526%May 19, 2025Real yield1.517%Jun 16, 2025Real yield1.618%Jul 15, 2025Real yield1.426%Aug 11, 2025Real yield1.231%Sep 8, 2025Real yield1.003%Oct 3, 2025Real yield1.187%Oct 31, 2025Real yield1.299%Dec 1, 2025Real yield1.360%Dec 29, 2025Real yield1.436%Jan 27, 2026Real yield1.255%Feb 24, 2026Real yield1.137%Mar 23, 2026Real yield1.284%Apr 17, 2026Real yield1.132%May 14, 2026Real yield1.239%Jun 11, 2026Real yield1.670%Jul 10, 2026Real yield2.092%Aug 6, 2026Real yield2.283%Sep 2, 2026Real yield2.181%Sep 9, 2026Real yield2.169%

Price history

4,508 trading days to Sep 9, 2026

100110120130140150160170Sep 2, 2008Sep 9, 2026Sep 2, 2008Close128.063Sep 29, 2008Close123.469Oct 27, 2008Close109.531Nov 24, 2008Close106.031Dec 22, 2008Close126.250Jan 21, 2009Close117.625Feb 18, 2009Close124.250Mar 17, 2009Close119.375Apr 14, 2009Close124.500May 11, 2009Close121.469Jun 8, 2009Close120.063Jul 6, 2009Close123.969Jul 31, 2009Close124.719Aug 27, 2009Close126.344Sep 24, 2009Close127.125Oct 22, 2009Close128.094Nov 19, 2009Close132.375Dec 17, 2009Close130.594Jan 15, 2010Close129.375Feb 12, 2010Close127.250Mar 12, 2010Close127.469Apr 8, 2010Close127.656May 5, 2010Close132.875Jun 1, 2010Close132.750Jun 28, 2010Close134.156Jul 26, 2010Close131.125Aug 20, 2010Close135.563Sep 17, 2010Close136.156Oct 15, 2010Close143.281Nov 12, 2010Close140.281Dec 10, 2010Close132.250Jan 7, 2011Close133.469Feb 4, 2011Close128.281Mar 4, 2011Close133.250Mar 31, 2011Close133.656Apr 28, 2011Close136.719May 25, 2011Close136.344Jun 22, 2011Close135.813Jul 20, 2011Close140.438Aug 16, 2011Close152.406Sep 13, 2011Close151.969Oct 11, 2011Close150.469Nov 7, 2011Close158.000Dec 6, 2011Close154.969Jan 4, 2012Close155.500Feb 1, 2012Close159.469Feb 29, 2012Close158.531Mar 27, 2012Close154.906Apr 23, 2012Close158.906May 18, 2012Close162.469Jun 15, 2012Close164.156Jul 13, 2012Close165.969Aug 9, 2012Close164.031Sep 6, 2012Close163.750Oct 3, 2012Close167.844Nov 1, 2012Close167.188Nov 30, 2012Close167.469Dec 28, 2012Close166.594Jan 28, 2013Close162.875Feb 25, 2013Close162.688Mar 22, 2013Close161.969Apr 19, 2013Close164.438May 16, 2013Close159.625Jun 13, 2013Close147.531Jul 11, 2013Close142.313Aug 7, 2013Close145.063Sep 4, 2013Close138.125Oct 1, 2013Close143.125Oct 29, 2013Close144.281Nov 26, 2013Close140.688Dec 24, 2013Close137.281Jan 23, 2014Close140.844Feb 20, 2014Close140.188Mar 19, 2014Close140.531Apr 15, 2014Close142.813May 13, 2014Close144.063Jun 10, 2014Close143.563Jul 8, 2014Close145.500Aug 4, 2014Close146.625Aug 29, 2014Close147.438Sep 29, 2014Close141.594Oct 27, 2014Close144.219Nov 25, 2014Close143.906Dec 23, 2014Close143.000Jan 22, 2015Close146.469Feb 19, 2015Close143.938Mar 18, 2015Close147.125Apr 14, 2015Close147.906May 11, 2015Close142.813Jun 8, 2015Close140.813Jul 6, 2015Close142.281Jul 31, 2015Close142.000Aug 27, 2015Close139.000Sep 24, 2015Close138.188Oct 22, 2015Close139.250Nov 19, 2015Close137.875Dec 17, 2015Close136.313Jan 15, 2016Close136.813Feb 12, 2016Close139.031Mar 11, 2016Close138.844Apr 8, 2016Close143.625May 5, 2016Close143.594Jun 2, 2016Close141.719Jun 29, 2016Close143.938Jul 27, 2016Close144.000Aug 23, 2016Close144.156Sep 20, 2016Close141.656Oct 18, 2016Close143.000Nov 15, 2016Close138.438Dec 13, 2016Close136.500Jan 11, 2017Close138.313Feb 8, 2017Close139.094Mar 8, 2017Close136.813Apr 4, 2017Close138.594May 2, 2017Close138.313May 30, 2017Close138.406Jun 26, 2017Close137.844Jul 24, 2017Close136.313Aug 18, 2017Close136.906Sep 15, 2017Close137.719Oct 13, 2017Close136.563Nov 9, 2017Close136.125Dec 7, 2017Close135.563Jan 5, 2018Close136.063Feb 2, 2018Close133.188Mar 2, 2018Close132.781Mar 29, 2018Close133.094Apr 26, 2018Close131.281May 23, 2018Close130.594Jun 20, 2018Close131.063Jul 18, 2018Close131.188Aug 14, 2018Close130.438Sep 11, 2018Close129.531Oct 9, 2018Close127.281Nov 5, 2018Close125.938Dec 4, 2018Close127.594Jan 3, 2019Close128.469Jan 31, 2019Close129.844Feb 28, 2019Close129.594Mar 27, 2019Close132.000Apr 24, 2019Close131.750May 21, 2019Close131.125Jun 18, 2019Close132.875Jul 16, 2019Close133.625Aug 12, 2019Close136.156Sep 9, 2019Close135.438Oct 4, 2019Close135.656Nov 1, 2019Close134.219Dec 2, 2019Close133.406Dec 30, 2019Close133.563Jan 28, 2020Close135.188Feb 25, 2020Close137.250Mar 23, 2020Close133.219Apr 20, 2020Close136.156May 15, 2020Close137.781Jun 12, 2020Close139.344Jul 10, 2020Close142.250Aug 6, 2020Close145.313Sep 2, 2020Close145.156Sep 30, 2020Close143.594Oct 28, 2020Close142.969Nov 25, 2020Close142.156Dec 23, 2020Close143.688Jan 22, 2021Close144.031Feb 19, 2021Close142.438Mar 18, 2021Close140.000Apr 14, 2021Close140.906May 11, 2021Close142.813Jun 8, 2021Close141.344Jul 6, 2021Close141.438Aug 2, 2021Close143.844Aug 27, 2021Close142.125Sep 24, 2021Close139.563Oct 22, 2021Close140.156Nov 19, 2021Close141.125Dec 17, 2021Close138.563Jan 14, 2022Close135.438Feb 11, 2022Close133.594Mar 11, 2022Close137.250Apr 7, 2022Close128.938May 5, 2022Close126.031Jun 2, 2022Close124.688Jun 30, 2022Close121.000Jul 28, 2022Close124.406Aug 24, 2022Close121.625Sep 21, 2022Close116.188Oct 19, 2022Close111.656Nov 16, 2022Close113.719Dec 14, 2022Close114.000Jan 12, 2023Close114.438Feb 9, 2023Close113.813Mar 9, 2023Close111.656Apr 5, 2023Close115.875May 2, 2023Close114.531May 30, 2023Close112.125Jun 27, 2023Close110.719Jul 25, 2023Close110.688Aug 21, 2023Close108.688Sep 18, 2023Close108.875Oct 16, 2023Close107.375Nov 10, 2023Close107.031Dec 8, 2023Close108.281Jan 8, 2024Close109.906Feb 5, 2024Close109.438Mar 4, 2024Close109.688Mar 29, 2024Close109.375Apr 25, 2024Close107.438May 22, 2024Close107.938Jun 20, 2024Close108.219Jul 18, 2024Close108.719Aug 14, 2024Close109.438Sep 11, 2024Close110.219Oct 8, 2024Close109.438Nov 5, 2024Close108.125Dec 4, 2024Close108.656Jan 2, 2025Close107.375Jan 30, 2025Close108.063Feb 27, 2025Close109.250Mar 26, 2025Close109.156Apr 22, 2025Close109.031May 19, 2025Close108.906Jun 16, 2025Close108.344Jul 15, 2025Close108.906Aug 11, 2025Close109.469Sep 8, 2025Close110.125Oct 3, 2025Close109.250Oct 31, 2025Close108.656Dec 1, 2025Close108.250Dec 29, 2025Close107.813Jan 27, 2026Close108.219Feb 24, 2026Close108.406Mar 23, 2026Close107.750Apr 17, 2026Close108.031May 14, 2026Close107.531Jun 11, 2026Close106.094Jul 10, 2026Close104.750Aug 6, 2026Close104.125Sep 2, 2026Close104.281Sep 9, 2026Close104.281
The most recent 20 trading days of prices for 912810FH6.
DateBidOfferClose
Sep 9, 2026104.328104.281104.281
Sep 8, 2026104.391104.344104.375
Sep 4, 2026104.344104.313104.313
Sep 3, 2026104.484104.438104.406
Sep 2, 2026104.328104.281104.281
Sep 1, 2026104.297104.250104.281
Aug 31, 2026104.313104.281104.250
Aug 28, 2026104.344104.281104.188
Aug 27, 2026104.609104.563104.531
Aug 26, 2026104.578104.531104.563
Aug 25, 2026104.672104.625104.625
Aug 24, 2026104.594104.563104.531
Aug 21, 2026104.578104.531104.563
Aug 20, 2026104.594104.563104.594
Aug 19, 2026104.531104.500104.500
Aug 18, 2026104.484104.438104.438
Aug 17, 2026104.422104.375104.375
Aug 14, 2026104.422104.375104.375
Aug 13, 2026104.422104.375104.344
Aug 12, 2026104.359104.313104.281

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.

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 912810FH6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Apr 7, 1999Apr 15, 1999New issue$7.0bn$7.4bn–3.899%
Oct 6, 1999Oct 15, 1999Reopening$7.0bn$7.4bn–4.138%
Oct 11, 2000Oct 16, 2000Reopening$5.0bn$5.0bn1.98x3.953%

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.