Treasury bond

912810PW2 · 4.375% due February 15, 2038

Original term
30-Year
Maturity
Feb 15, 2038
Coupon
4.375%
Pays
Semi-Annual
Dated
Feb 15, 2008
First coupon
Aug 15, 2008
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$22.53bn
Held stripped
$663.1m
Share stripped
2.94%

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 9, 2026

Yield to maturity
4.820%
Modified duration
8.819 yr
DV01
0.0850
Convexity
94.473
Dirty price
96.434

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 9 of twelve buckets, summing to 8.993 years against a modified duration of 8.819.

Against the fitted curve

Priced 11.4 bp rich to the curve on that day, 97.20 cents per 100 of face.

That is -0.52 standard deviations from its own typical residual.

Yield to maturity, 4,508 observations

0%1%2%3%4%5%6%Sep 2, 2008Sep 9, 2026Sep 2, 2008Yield to maturity4.356%Sep 29, 2008Yield to maturity4.181%Oct 27, 2008Yield to maturity4.113%Nov 24, 2008Yield to maturity3.791%Dec 22, 2008Yield to maturity2.603%Jan 21, 2009Yield to maturity3.165%Feb 18, 2009Yield to maturity3.582%Mar 17, 2009Yield to maturity3.897%Apr 14, 2009Yield to maturity3.675%May 11, 2009Yield to maturity4.189%Jun 8, 2009Yield to maturity4.657%Jul 6, 2009Yield to maturity4.344%Jul 31, 2009Yield to maturity4.314%Aug 27, 2009Yield to maturity4.225%Sep 24, 2009Yield to maturity4.175%Oct 22, 2009Yield to maturity4.247%Nov 19, 2009Yield to maturity4.284%Dec 17, 2009Yield to maturity4.416%Jan 15, 2010Yield to maturity4.561%Feb 12, 2010Yield to maturity4.629%Mar 12, 2010Yield to maturity4.597%Apr 8, 2010Yield to maturity4.730%May 5, 2010Yield to maturity4.367%Jun 1, 2010Yield to maturity4.183%Jun 28, 2010Yield to maturity3.994%Jul 26, 2010Yield to maturity4.008%Aug 20, 2010Yield to maturity3.617%Sep 17, 2010Yield to maturity3.855%Oct 15, 2010Yield to maturity3.932%Nov 12, 2010Yield to maturity4.206%Dec 10, 2010Yield to maturity4.381%Jan 7, 2011Yield to maturity4.447%Feb 4, 2011Yield to maturity4.699%Mar 4, 2011Yield to maturity4.565%Mar 31, 2011Yield to maturity4.485%Apr 28, 2011Yield to maturity4.391%May 25, 2011Yield to maturity4.231%Jun 22, 2011Yield to maturity4.166%Jul 20, 2011Yield to maturity4.194%Aug 16, 2011Yield to maturity3.578%Sep 13, 2011Yield to maturity3.234%Oct 11, 2011Yield to maturity3.063%Nov 7, 2011Yield to maturity2.982%Dec 6, 2011Yield to maturity2.988%Jan 4, 2012Yield to maturity2.931%Feb 1, 2012Yield to maturity2.886%Feb 29, 2012Yield to maturity2.960%Mar 27, 2012Yield to maturity3.177%Apr 23, 2012Yield to maturity2.951%May 18, 2012Yield to maturity2.654%Jun 15, 2012Yield to maturity2.548%Jul 13, 2012Yield to maturity2.425%Aug 9, 2012Yield to maturity2.606%Sep 6, 2012Yield to maturity2.621%Oct 3, 2012Yield to maturity2.637%Nov 1, 2012Yield to maturity2.714%Nov 30, 2012Yield to maturity2.616%Dec 28, 2012Yield to maturity2.686%Jan 28, 2013Yield to maturity2.954%Feb 25, 2013Yield to maturity2.904%Mar 22, 2013Yield to maturity2.965%Apr 19, 2013Yield to maturity2.713%May 16, 2013Yield to maturity2.907%Jun 13, 2013Yield to maturity3.169%Jul 11, 2013Yield to maturity3.486%Aug 7, 2013Yield to maturity3.527%Sep 4, 2013Yield to maturity3.684%Oct 1, 2013Yield to maturity3.588%Oct 29, 2013Yield to maturity3.476%Nov 26, 2013Yield to maturity3.650%Dec 24, 2013Yield to maturity3.768%Jan 23, 2014Yield to maturity3.548%Feb 20, 2014Yield to maturity3.586%Mar 19, 2014Yield to maturity3.525%Apr 15, 2014Yield to maturity3.327%May 13, 2014Yield to maturity3.297%Jun 10, 2014Yield to maturity3.326%Jul 8, 2014Yield to maturity3.243%Aug 4, 2014Yield to maturity3.162%Aug 29, 2014Yield to maturity2.953%Sep 29, 2014Yield to maturity3.060%Oct 27, 2014Yield to maturity2.891%Nov 25, 2014Yield to maturity2.825%Dec 23, 2014Yield to maturity2.687%Jan 22, 2015Yield to maturity2.322%Feb 19, 2015Yield to maturity2.609%Mar 18, 2015Yield to maturity2.409%Apr 14, 2015Yield to maturity2.410%May 11, 2015Yield to maturity2.897%Jun 8, 2015Yield to maturity3.000%Jul 6, 2015Yield to maturity2.936%Jul 31, 2015Yield to maturity2.750%Aug 27, 2015Yield to maturity2.747%Sep 24, 2015Yield to maturity2.710%Oct 22, 2015Yield to maturity2.623%Nov 19, 2015Yield to maturity2.782%Dec 17, 2015Yield to maturity2.685%Jan 15, 2016Yield to maturity2.556%Feb 12, 2016Yield to maturity2.270%Mar 11, 2016Yield to maturity2.450%Apr 8, 2016Yield to maturity2.237%May 5, 2016Yield to maturity2.279%Jun 2, 2016Yield to maturity2.264%Jun 29, 2016Yield to maturity1.948%Jul 27, 2016Yield to maturity1.913%Aug 23, 2016Yield to maturity1.942%Sep 20, 2016Yield to maturity2.159%Oct 18, 2016Yield to maturity2.243%Nov 15, 2016Yield to maturity2.702%Dec 13, 2016Yield to maturity2.908%Jan 11, 2017Yield to maturity2.735%Feb 8, 2017Yield to maturity2.721%Mar 8, 2017Yield to maturity2.928%Apr 4, 2017Yield to maturity2.763%May 2, 2017Yield to maturity2.716%May 30, 2017Yield to maturity2.637%Jun 26, 2017Yield to maturity2.489%Jul 24, 2017Yield to maturity2.622%Aug 18, 2017Yield to maturity2.557%Sep 15, 2017Yield to maturity2.544%Oct 13, 2017Yield to maturity2.592%Nov 9, 2017Yield to maturity2.603%Dec 7, 2017Yield to maturity2.589%Jan 5, 2018Yield to maturity2.650%Feb 2, 2018Yield to maturity2.974%Mar 2, 2018Yield to maturity3.020%Mar 29, 2018Yield to maturity2.846%Apr 26, 2018Yield to maturity3.080%May 23, 2018Yield to maturity3.092%Jun 20, 2018Yield to maturity2.986%Jul 18, 2018Yield to maturity2.923%Aug 14, 2018Yield to maturity2.972%Sep 11, 2018Yield to maturity3.048%Oct 9, 2018Yield to maturity3.290%Nov 5, 2018Yield to maturity3.319%Dec 4, 2018Yield to maturity3.018%Jan 3, 2019Yield to maturity2.711%Jan 31, 2019Yield to maturity2.787%Feb 28, 2019Yield to maturity2.888%Mar 27, 2019Yield to maturity2.586%Apr 24, 2019Yield to maturity2.714%May 21, 2019Yield to maturity2.617%Jun 18, 2019Yield to maturity2.280%Jul 16, 2019Yield to maturity2.353%Aug 12, 2019Yield to maturity1.860%Sep 9, 2019Yield to maturity1.853%Oct 4, 2019Yield to maturity1.745%Nov 1, 2019Yield to maturity1.957%Dec 2, 2019Yield to maturity2.075%Dec 30, 2019Yield to maturity2.133%Jan 28, 2020Yield to maturity1.868%Feb 25, 2020Yield to maturity1.544%Mar 23, 2020Yield to maturity0.992%Apr 20, 2020Yield to maturity0.928%May 15, 2020Yield to maturity0.913%Jun 12, 2020Yield to maturity1.013%Jul 10, 2020Yield to maturity0.899%Aug 6, 2020Yield to maturity0.772%Sep 2, 2020Yield to maturity0.951%Sep 30, 2020Yield to maturity0.993%Oct 28, 2020Yield to maturity1.093%Nov 25, 2020Yield to maturity1.180%Dec 23, 2020Yield to maturity1.267%Jan 22, 2021Yield to maturity1.428%Feb 19, 2021Yield to maturity1.728%Mar 18, 2021Yield to maturity2.124%Apr 14, 2021Yield to maturity1.998%May 11, 2021Yield to maturity2.009%Jun 8, 2021Yield to maturity1.887%Jul 6, 2021Yield to maturity1.675%Aug 2, 2021Yield to maturity1.499%Aug 27, 2021Yield to maturity1.573%Sep 24, 2021Yield to maturity1.695%Oct 22, 2021Yield to maturity1.842%Nov 19, 2021Yield to maturity1.679%Dec 17, 2021Yield to maturity1.571%Jan 14, 2022Yield to maturity1.968%Feb 11, 2022Yield to maturity2.102%Mar 11, 2022Yield to maturity2.084%Apr 7, 2022Yield to maturity2.706%May 5, 2022Yield to maturity3.121%Jun 2, 2022Yield to maturity3.004%Jun 30, 2022Yield to maturity3.020%Jul 28, 2022Yield to maturity2.744%Aug 24, 2022Yield to maturity3.181%Sep 21, 2022Yield to maturity3.522%Oct 19, 2022Yield to maturity4.158%Nov 16, 2022Yield to maturity3.816%Dec 14, 2022Yield to maturity3.496%Jan 12, 2023Yield to maturity3.518%Feb 9, 2023Yield to maturity3.708%Mar 9, 2023Yield to maturity3.929%Apr 5, 2023Yield to maturity3.381%May 2, 2023Yield to maturity3.510%May 30, 2023Yield to maturity3.789%Jun 27, 2023Yield to maturity3.770%Jul 25, 2023Yield to maturity3.891%Aug 21, 2023Yield to maturity4.413%Sep 18, 2023Yield to maturity4.339%Oct 16, 2023Yield to maturity4.854%Nov 10, 2023Yield to maturity4.721%Dec 8, 2023Yield to maturity4.286%Jan 8, 2024Yield to maturity4.052%Feb 5, 2024Yield to maturity4.211%Mar 4, 2024Yield to maturity4.249%Mar 29, 2024Yield to maturity4.192%Apr 25, 2024Yield to maturity4.719%May 22, 2024Yield to maturity4.417%Jun 20, 2024Yield to maturity4.262%Jul 18, 2024Yield to maturity4.250%Aug 14, 2024Yield to maturity3.881%Sep 11, 2024Yield to maturity3.708%Oct 8, 2024Yield to maturity4.102%Nov 5, 2024Yield to maturity4.325%Dec 4, 2024Yield to maturity4.237%Jan 2, 2025Yield to maturity4.654%Jan 30, 2025Yield to maturity4.593%Feb 27, 2025Yield to maturity4.353%Mar 26, 2025Yield to maturity4.442%Apr 22, 2025Yield to maturity4.579%May 19, 2025Yield to maturity4.620%Jun 16, 2025Yield to maturity4.608%Jul 15, 2025Yield to maturity4.653%Aug 11, 2025Yield to maturity4.418%Sep 8, 2025Yield to maturity4.212%Oct 3, 2025Yield to maturity4.260%Oct 31, 2025Yield to maturity4.226%Dec 1, 2025Yield to maturity4.216%Dec 29, 2025Yield to maturity4.228%Jan 27, 2026Yield to maturity4.318%Feb 24, 2026Yield to maturity4.125%Mar 23, 2026Yield to maturity4.433%Apr 17, 2026Yield to maturity4.327%May 14, 2026Yield to maturity4.523%Jun 11, 2026Yield to maturity4.492%Jul 10, 2026Yield to maturity4.603%Aug 6, 2026Yield to maturity4.708%Sep 2, 2026Yield to maturity4.790%Sep 9, 2026Yield to maturity4.820%

Price history

4,508 trading days to Sep 9, 2026

80100120140160180Sep 2, 2008Sep 9, 2026Sep 2, 2008Close100.313Sep 29, 2008Close103.266Oct 27, 2008Close104.438Nov 24, 2008Close110.250Dec 22, 2008Close136.031Jan 21, 2009Close122.875Feb 18, 2009Close114.219Mar 17, 2009Close108.250Apr 14, 2009Close112.375May 11, 2009Close103.094Jun 8, 2009Close95.563Jul 6, 2009Close100.500Jul 31, 2009Close101.000Aug 27, 2009Close102.469Sep 24, 2009Close103.313Oct 22, 2009Close102.094Nov 19, 2009Close101.469Dec 17, 2009Close99.344Jan 15, 2010Close97.063Feb 12, 2010Close96.031Mar 12, 2010Close96.531Apr 8, 2010Close94.531May 5, 2010Close100.125Jun 1, 2010Close103.125Jun 28, 2010Close106.344Jul 26, 2010Close106.094Aug 20, 2010Close113.125Sep 17, 2010Close108.750Oct 15, 2010Close107.375Nov 12, 2010Close102.719Dec 10, 2010Close99.906Jan 7, 2011Close98.875Feb 4, 2011Close95.063Mar 4, 2011Close97.063Mar 31, 2011Close98.281Apr 28, 2011Close99.750May 25, 2011Close102.281Jun 22, 2011Close103.344Jul 20, 2011Close102.875Aug 16, 2011Close113.563Sep 13, 2011Close120.156Oct 11, 2011Close123.594Nov 7, 2011Close125.250Dec 6, 2011Close125.063Jan 4, 2012Close126.219Feb 1, 2012Close127.125Feb 29, 2012Close125.500Mar 27, 2012Close121.031Apr 23, 2012Close125.594May 18, 2012Close131.938Jun 15, 2012Close134.250Jul 13, 2012Close137.000Aug 9, 2012Close132.813Sep 6, 2012Close132.406Oct 3, 2012Close132.000Nov 1, 2012Close130.250Nov 30, 2012Close132.313Dec 28, 2012Close130.719Jan 28, 2013Close125.031Feb 25, 2013Close126.000Mar 22, 2013Close124.688Apr 19, 2013Close129.875May 16, 2013Close125.781Jun 13, 2013Close120.531Jul 11, 2013Close114.594Aug 7, 2013Close113.844Sep 4, 2013Close111.063Oct 1, 2013Close112.719Oct 29, 2013Close114.656Nov 26, 2013Close111.594Dec 24, 2013Close109.563Jan 23, 2014Close113.313Feb 20, 2014Close112.625Mar 19, 2014Close113.656Apr 15, 2014Close117.156May 13, 2014Close117.656Jun 10, 2014Close117.094Jul 8, 2014Close118.563Aug 4, 2014Close120.031Aug 29, 2014Close123.938Sep 29, 2014Close121.844Oct 27, 2014Close125.031Nov 25, 2014Close126.250Dec 23, 2014Close128.938Jan 22, 2015Close136.500Feb 19, 2015Close130.375Mar 18, 2015Close134.469Apr 14, 2015Close134.344May 11, 2015Close124.500Jun 8, 2015Close122.500Jul 6, 2015Close123.656Jul 31, 2015Close127.156Aug 27, 2015Close127.156Sep 24, 2015Close127.813Oct 22, 2015Close129.438Nov 19, 2015Close126.281Dec 17, 2015Close128.094Jan 15, 2016Close130.531Feb 12, 2016Close136.281Mar 11, 2016Close132.500Apr 8, 2016Close136.781May 5, 2016Close135.813Jun 2, 2016Close136.031Jun 29, 2016Close142.656Jul 27, 2016Close143.313Aug 23, 2016Close142.563Sep 20, 2016Close137.813Oct 18, 2016Close135.969Nov 15, 2016Close126.906Dec 13, 2016Close123.063Jan 11, 2017Close126.156Feb 8, 2017Close126.344Mar 8, 2017Close122.531Apr 4, 2017Close125.438May 2, 2017Close126.219May 30, 2017Close127.594Jun 26, 2017Close130.281Jul 24, 2017Close127.719Aug 18, 2017Close128.844Sep 15, 2017Close129.000Oct 13, 2017Close128.031Nov 9, 2017Close127.750Dec 7, 2017Close127.938Jan 5, 2018Close126.750Feb 2, 2018Close121.031Mar 2, 2018Close120.188Mar 29, 2018Close123.094Apr 26, 2018Close119.094May 23, 2018Close118.844Jun 20, 2018Close120.531Jul 18, 2018Close121.531Aug 14, 2018Close120.656Sep 11, 2018Close119.344Oct 9, 2018Close115.438Nov 5, 2018Close114.938Dec 4, 2018Close119.656Jan 3, 2019Close124.688Jan 31, 2019Close123.344Feb 28, 2019Close121.594Mar 27, 2019Close126.594Apr 24, 2019Close124.344May 21, 2019Close125.906Jun 18, 2019Close131.688Jul 16, 2019Close130.281Aug 12, 2019Close139.219Sep 9, 2019Close139.219Oct 4, 2019Close141.156Nov 1, 2019Close137.000Dec 2, 2019Close134.719Dec 30, 2019Close133.563Jan 28, 2020Close138.250Feb 25, 2020Close144.281Mar 23, 2020Close155.344Apr 20, 2020Close156.500May 15, 2020Close156.594Jun 12, 2020Close154.250Jul 10, 2020Close156.438Aug 6, 2020Close158.938Sep 2, 2020Close154.938Sep 30, 2020Close153.844Oct 28, 2020Close151.594Nov 25, 2020Close149.656Dec 23, 2020Close147.750Jan 22, 2021Close144.469Feb 19, 2021Close138.813Mar 18, 2021Close131.844Apr 14, 2021Close133.844May 11, 2021Close133.531Jun 8, 2021Close135.469Jul 6, 2021Close139.000Aug 2, 2021Close141.969Aug 27, 2021Close140.500Sep 24, 2021Close138.188Oct 22, 2021Close135.531Nov 19, 2021Close138.156Dec 17, 2021Close139.875Jan 14, 2022Close133.031Feb 11, 2022Close130.750Mar 11, 2022Close130.906Apr 7, 2022Close121.406May 5, 2022Close115.531Jun 2, 2022Close117.063Jun 30, 2022Close116.781Jul 28, 2022Close120.531Aug 24, 2022Close114.500Sep 21, 2022Close110.063Oct 19, 2022Close102.438Nov 16, 2022Close106.406Dec 14, 2022Close110.281Jan 12, 2023Close109.969Feb 9, 2023Close107.625Mar 9, 2023Close105.000Apr 5, 2023Close111.531May 2, 2023Close109.906May 30, 2023Close106.563Jun 27, 2023Close106.750Jul 25, 2023Close105.344Aug 21, 2023Close99.594Sep 18, 2023Close100.375Oct 16, 2023Close95.094Nov 10, 2023Close96.438Dec 8, 2023Close100.938Jan 8, 2024Close103.438Feb 5, 2024Close101.719Mar 4, 2024Close101.313Mar 29, 2024Close101.906Apr 25, 2024Close96.531May 22, 2024Close99.563Jun 20, 2024Close101.156Jul 18, 2024Close101.281Aug 14, 2024Close105.156Sep 11, 2024Close107.000Oct 8, 2024Close102.781Nov 5, 2024Close100.500Dec 4, 2024Close101.375Jan 2, 2025Close97.281Jan 30, 2025Close97.875Feb 27, 2025Close100.219Mar 26, 2025Close99.344Apr 22, 2025Close98.031May 19, 2025Close97.656Jun 16, 2025Close97.781Jul 15, 2025Close97.375Aug 11, 2025Close99.594Sep 8, 2025Close101.563Oct 3, 2025Close101.094Oct 31, 2025Close101.406Dec 1, 2025Close101.500Dec 29, 2025Close101.375Jan 27, 2026Close100.531Feb 24, 2026Close102.344Mar 23, 2026Close99.469Apr 17, 2026Close100.438May 14, 2026Close98.656Jun 11, 2026Close98.938Jul 10, 2026Close97.969Aug 6, 2026Close97.063Sep 2, 2026Close96.375Sep 9, 2026Close96.125
The most recent 20 trading days of prices for 912810PW2.
DateBidOfferClose
Sep 9, 202696.10996.00096.125
Sep 8, 202696.56396.46996.406
Sep 4, 202696.65696.56396.531
Sep 3, 202696.85996.78196.594
Sep 2, 202696.42296.34496.375
Sep 1, 202696.68896.59496.375
Aug 31, 202696.70396.62596.719
Aug 28, 202697.23497.12596.906
Aug 27, 202697.56397.46997.344
Aug 26, 202697.56397.46997.406
Aug 25, 202697.62597.53197.625
Aug 24, 202697.28197.18897.031
Aug 21, 202696.85996.78196.750
Aug 20, 202697.12597.03197.125
Aug 19, 202697.46997.37597.500
Aug 18, 202696.87596.78196.875
Aug 17, 202696.98496.90696.719
Aug 14, 202697.17297.09497.063
Aug 13, 202697.53197.43897.469
Aug 12, 202697.20397.12597.000

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.

2 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 912810PW2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 7, 2008Feb 15, 2008New issue$9.0bn$13.3bn1.82x4.449%
May 8, 2008May 15, 2008Reopening$6.0bn$9.2bn2.69x4.599%

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.