Inflation-linked (TIPS)

912810QF8 · 2.125% due February 15, 2040

Original term
30-Year
Maturity
Feb 15, 2040
Coupon
2.125%
Pays
Semi-Annual
Dated
Feb 15, 2010
First coupon
Aug 15, 2010
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$23.17bn
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. 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
2.685%
Index ratio
1.5450
Real duration
11.512 yr
DV01
0.1081
Convexity
150.767
Real clean price
93.719
Accrued (real)
0.150
Real dirty price
93.869
Indexed principal
154.503
Money clean price
144.798

The index ratio is a multiplier, not a percentage: 1.5450 means the principal is worth that many times its original face today. So the real clean price of 93.719 is not what a buyer pays , multiply by the ratio to get 144.798 per 100 of original face.

Against the fitted real curve

Priced 1.2 bp rich to the real curve on that day, 13.24 cents per 100 of face.

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

Real yield, 4,138 observations

-1%0%1%2%3%Feb 26, 2010Sep 9, 2026Feb 26, 2010Real yield2.128%Mar 24, 2010Real yield2.205%Apr 19, 2010Real yield2.052%May 13, 2010Real yield1.844%Jun 8, 2010Real yield1.772%Jul 2, 2010Real yield1.812%Jul 29, 2010Real yield1.919%Aug 24, 2010Real yield1.679%Sep 20, 2010Real yield1.739%Oct 15, 2010Real yield1.423%Nov 10, 2010Real yield1.580%Dec 8, 2010Real yield1.908%Jan 4, 2011Real yield1.907%Jan 31, 2011Real yield2.073%Feb 25, 2011Real yield1.948%Mar 23, 2011Real yield1.875%Apr 18, 2011Real yield1.705%May 13, 2011Real yield1.774%Jun 9, 2011Real yield1.776%Jul 6, 2011Real yield1.721%Aug 1, 2011Real yield1.332%Aug 25, 2011Real yield1.127%Sep 21, 2011Real yield0.977%Oct 18, 2011Real yield1.040%Nov 14, 2011Real yield0.782%Dec 9, 2011Real yield0.909%Jan 6, 2012Real yield0.725%Feb 2, 2012Real yield0.618%Feb 29, 2012Real yield0.647%Mar 26, 2012Real yield0.846%Apr 19, 2012Real yield0.702%May 15, 2012Real yield0.600%Jun 11, 2012Real yield0.447%Jul 6, 2012Real yield0.406%Aug 1, 2012Real yield0.265%Aug 27, 2012Real yield0.363%Sep 21, 2012Real yield0.380%Oct 18, 2012Real yield0.404%Nov 15, 2012Real yield0.224%Dec 12, 2012Real yield0.235%Jan 9, 2013Real yield0.366%Feb 5, 2013Real yield0.482%Mar 4, 2013Real yield0.430%Mar 28, 2013Real yield0.491%Apr 24, 2013Real yield0.343%May 20, 2013Real yield0.652%Jun 14, 2013Real yield1.055%Jul 11, 2013Real yield1.313%Aug 6, 2013Real yield1.227%Aug 30, 2013Real yield1.387%Sep 26, 2013Real yield1.300%Oct 23, 2013Real yield1.259%Nov 19, 2013Real yield1.438%Dec 16, 2013Real yield1.509%Jan 13, 2014Real yield1.335%Feb 7, 2014Real yield1.327%Mar 6, 2014Real yield1.297%Apr 1, 2014Real yield1.264%Apr 28, 2014Real yield1.110%May 22, 2014Real yield1.047%Jun 18, 2014Real yield1.054%Jul 15, 2014Real yield0.948%Aug 8, 2014Real yield0.853%Sep 4, 2014Real yield0.892%Oct 1, 2014Real yield0.964%Oct 28, 2014Real yield0.935%Nov 25, 2014Real yield0.910%Dec 22, 2014Real yield0.779%Jan 20, 2015Real yield0.598%Feb 13, 2015Real yield0.775%Mar 12, 2015Real yield0.808%Apr 7, 2015Real yield0.579%May 1, 2015Real yield0.743%May 28, 2015Real yield0.936%Jun 23, 2015Real yield1.129%Jul 20, 2015Real yield1.103%Aug 13, 2015Real yield1.044%Sep 9, 2015Real yield1.188%Oct 5, 2015Real yield1.201%Oct 30, 2015Real yield1.167%Nov 27, 2015Real yield1.172%Dec 23, 2015Real yield1.280%Jan 21, 2016Real yield1.283%Feb 17, 2016Real yield1.152%Mar 14, 2016Real yield1.094%Apr 8, 2016Real yield0.810%May 4, 2016Real yield0.856%May 31, 2016Real yield0.910%Jun 24, 2016Real yield0.809%Jul 21, 2016Real yield0.678%Aug 16, 2016Real yield0.652%Sep 12, 2016Real yield0.675%Oct 6, 2016Real yield0.684%Nov 2, 2016Real yield0.691%Nov 30, 2016Real yield0.906%Dec 27, 2016Real yield1.032%Jan 24, 2017Real yield0.905%Feb 17, 2017Real yield0.884%Mar 16, 2017Real yield0.962%Apr 11, 2017Real yield0.843%May 8, 2017Real yield0.975%Jun 2, 2017Real yield0.803%Jun 28, 2017Real yield0.861%Jul 25, 2017Real yield0.963%Aug 18, 2017Real yield0.860%Sep 14, 2017Real yield0.774%Oct 11, 2017Real yield0.848%Nov 6, 2017Real yield0.796%Dec 1, 2017Real yield0.749%Dec 28, 2017Real yield0.690%Jan 25, 2018Real yield0.731%Feb 21, 2018Real yield0.990%Mar 19, 2018Real yield0.917%Apr 13, 2018Real yield0.796%May 9, 2018Real yield0.900%Jun 5, 2018Real yield0.889%Jun 29, 2018Real yield0.821%Jul 26, 2018Real yield0.936%Aug 21, 2018Real yield0.887%Sep 17, 2018Real yield0.992%Oct 12, 2018Real yield1.169%Nov 7, 2018Real yield1.305%Dec 6, 2018Real yield1.128%Jan 3, 2019Real yield1.123%Jan 30, 2019Real yield1.122%Feb 26, 2019Real yield0.993%Mar 22, 2019Real yield0.838%Apr 17, 2019Real yield0.941%May 14, 2019Real yield0.848%Jun 10, 2019Real yield0.729%Jul 5, 2019Real yield0.672%Jul 31, 2019Real yield0.609%Aug 26, 2019Real yield0.329%Sep 20, 2019Real yield0.408%Oct 17, 2019Real yield0.505%Nov 13, 2019Real yield0.535%Dec 10, 2019Real yield0.439%Jan 7, 2020Real yield0.446%Feb 3, 2020Real yield0.213%Feb 28, 2020Real yield0.028%Mar 25, 2020Real yield-0.074%Apr 21, 2020Real yield-0.139%May 15, 2020Real yield-0.139%Jun 11, 2020Real yield-0.156%Jul 8, 2020Real yield-0.279%Aug 3, 2020Real yield-0.542%Aug 27, 2020Real yield-0.441%Sep 23, 2020Real yield-0.464%Oct 20, 2020Real yield-0.438%Nov 16, 2020Real yield-0.409%Dec 11, 2020Real yield-0.553%Jan 8, 2021Real yield-0.429%Feb 4, 2021Real yield-0.509%Mar 3, 2021Real yield-0.164%Mar 29, 2021Real yield-0.150%Apr 22, 2021Real yield-0.247%May 18, 2021Real yield-0.289%Jun 14, 2021Real yield-0.380%Jul 9, 2021Real yield-0.441%Aug 4, 2021Real yield-0.613%Aug 30, 2021Real yield-0.588%Sep 24, 2021Real yield-0.469%Oct 21, 2021Real yield-0.532%Nov 17, 2021Real yield-0.629%Dec 14, 2021Real yield-0.537%Jan 10, 2022Real yield-0.320%Feb 4, 2022Real yield-0.108%Mar 3, 2022Real yield-0.332%Mar 29, 2022Real yield-0.103%Apr 25, 2022Real yield0.229%May 19, 2022Real yield0.602%Jun 15, 2022Real yield0.864%Jul 13, 2022Real yield0.949%Aug 8, 2022Real yield0.706%Sep 1, 2022Real yield1.081%Sep 28, 2022Real yield1.608%Oct 25, 2022Real yield1.881%Nov 21, 2022Real yield1.721%Dec 16, 2022Real yield1.521%Jan 13, 2023Real yield1.495%Feb 9, 2023Real yield1.487%Mar 8, 2023Real yield1.674%Apr 3, 2023Real yield1.432%Apr 27, 2023Real yield1.450%May 23, 2023Real yield1.616%Jun 20, 2023Real yield1.577%Jul 17, 2023Real yield1.666%Aug 10, 2023Real yield1.960%Sep 6, 2023Real yield2.091%Oct 2, 2023Real yield2.463%Oct 27, 2023Real yield2.583%Nov 22, 2023Real yield2.254%Dec 19, 2023Real yield1.879%Jan 17, 2024Real yield2.018%Feb 12, 2024Real yield2.083%Mar 8, 2024Real yield1.942%Apr 3, 2024Real yield2.162%Apr 29, 2024Real yield2.320%May 23, 2024Real yield2.241%Jun 20, 2024Real yield2.087%Jul 17, 2024Real yield2.008%Aug 12, 2024Real yield1.956%Sep 6, 2024Real yield1.865%Oct 2, 2024Real yield1.777%Oct 29, 2024Real yield2.118%Nov 25, 2024Real yield2.103%Dec 20, 2024Real yield2.367%Jan 17, 2025Real yield2.391%Feb 13, 2025Real yield2.216%Mar 12, 2025Real yield2.154%Apr 7, 2025Real yield2.127%May 1, 2025Real yield2.220%May 28, 2025Real yield2.398%Jun 24, 2025Real yield2.269%Jul 21, 2025Real yield2.254%Aug 14, 2025Real yield2.226%Sep 10, 2025Real yield2.010%Oct 6, 2025Real yield2.107%Oct 31, 2025Real yield2.051%Nov 28, 2025Real yield2.071%Dec 24, 2025Real yield2.182%Jan 22, 2026Real yield2.190%Feb 18, 2026Real yield2.045%Mar 16, 2026Real yield2.172%Apr 9, 2026Real yield2.241%May 5, 2026Real yield2.257%Jun 1, 2026Real yield2.299%Jun 26, 2026Real yield2.362%Jul 23, 2026Real yield2.660%Aug 18, 2026Real yield2.677%Sep 9, 2026Real yield2.685%

Price history

4,138 trading days to Sep 9, 2026

90100110120130140150160Feb 26, 2010Sep 9, 2026Feb 26, 2010Close99.938Mar 24, 2010Close98.250Apr 19, 2010Close101.625May 13, 2010Close106.406Jun 8, 2010Close108.125Jul 2, 2010Close107.156Jul 29, 2010Close104.625Aug 24, 2010Close110.344Sep 20, 2010Close108.844Oct 15, 2010Close116.781Nov 10, 2010Close112.719Dec 8, 2010Close104.844Jan 4, 2011Close104.844Jan 31, 2011Close101.125Feb 25, 2011Close103.906Mar 23, 2011Close105.563Apr 18, 2011Close109.531May 13, 2011Close107.875Jun 9, 2011Close107.813Jul 6, 2011Close109.094Aug 1, 2011Close118.781Aug 25, 2011Close124.250Sep 21, 2011Close128.406Oct 18, 2011Close126.563Nov 14, 2011Close133.969Dec 9, 2011Close130.156Jan 6, 2012Close135.531Feb 2, 2012Close138.719Feb 29, 2012Close137.750Mar 26, 2012Close131.719Apr 19, 2012Close135.906May 15, 2012Close138.938Jun 11, 2012Close143.625Jul 6, 2012Close144.844Aug 1, 2012Close149.375Aug 27, 2012Close146.031Sep 21, 2012Close145.344Oct 18, 2012Close144.469Nov 15, 2012Close150.219Dec 12, 2012Close149.719Jan 9, 2013Close145.344Feb 5, 2013Close141.594Mar 4, 2013Close143.094Mar 28, 2013Close141.094Apr 24, 2013Close145.594May 20, 2013Close136.094Jun 14, 2013Close124.813Jul 11, 2013Close118.188Aug 6, 2013Close120.281Aug 30, 2013Close116.281Sep 26, 2013Close118.375Oct 23, 2013Close119.344Nov 19, 2013Close114.969Dec 16, 2013Close113.281Jan 13, 2014Close117.344Feb 7, 2014Close117.500Mar 6, 2014Close118.188Apr 1, 2014Close118.938Apr 28, 2014Close122.719May 22, 2014Close124.250Jun 18, 2014Close124.031Jul 15, 2014Close126.688Aug 8, 2014Close129.094Sep 4, 2014Close128.000Oct 1, 2014Close126.063Oct 28, 2014Close126.750Nov 25, 2014Close127.313Dec 22, 2014Close130.688Jan 20, 2015Close135.500Feb 13, 2015Close130.625Mar 12, 2015Close129.688Apr 7, 2015Close135.750May 1, 2015Close131.219May 28, 2015Close126.188Jun 23, 2015Close121.375Jul 20, 2015Close121.938Aug 13, 2015Close123.313Sep 9, 2015Close119.813Oct 5, 2015Close119.469Oct 30, 2015Close120.219Nov 27, 2015Close120.031Dec 23, 2015Close117.500Jan 21, 2016Close117.375Feb 17, 2016Close120.344Mar 14, 2016Close121.656Apr 8, 2016Close128.469May 4, 2016Close127.250May 31, 2016Close125.844Jun 24, 2016Close128.250Jul 21, 2016Close131.469Aug 16, 2016Close132.031Sep 12, 2016Close131.375Oct 6, 2016Close131.063Nov 2, 2016Close130.781Nov 30, 2016Close125.469Dec 27, 2016Close122.438Jan 24, 2017Close125.344Feb 17, 2017Close125.750Mar 16, 2017Close123.875Apr 11, 2017Close126.594May 8, 2017Close123.438Jun 2, 2017Close127.375Jun 28, 2017Close125.938Jul 25, 2017Close123.500Aug 18, 2017Close125.813Sep 14, 2017Close127.750Oct 11, 2017Close125.938Nov 6, 2017Close127.063Dec 1, 2017Close128.094Dec 28, 2017Close129.406Jan 25, 2018Close128.344Feb 21, 2018Close122.375Mar 19, 2018Close123.938Apr 13, 2018Close126.594May 9, 2018Close124.156Jun 5, 2018Close124.344Jun 29, 2018Close125.781Jul 26, 2018Close123.156Aug 21, 2018Close124.156Sep 17, 2018Close121.813Oct 12, 2018Close118.000Nov 7, 2018Close115.188Dec 6, 2018Close118.750Jan 3, 2019Close118.781Jan 30, 2019Close118.750Feb 26, 2019Close121.375Mar 22, 2019Close124.625Apr 17, 2019Close122.344May 14, 2019Close124.250Jun 10, 2019Close126.750Jul 5, 2019Close127.906Jul 31, 2019Close129.219Aug 26, 2019Close135.531Sep 20, 2019Close133.563Oct 17, 2019Close131.250Nov 13, 2019Close130.469Dec 10, 2019Close132.531Jan 7, 2020Close132.250Feb 3, 2020Close137.469Feb 28, 2020Close141.719Mar 25, 2020Close144.063Apr 21, 2020Close145.500May 15, 2020Close145.344Jun 11, 2020Close145.594Jul 8, 2020Close148.469Aug 3, 2020Close155.031Aug 27, 2020Close152.219Sep 23, 2020Close152.594Oct 20, 2020Close151.719Nov 16, 2020Close150.781Dec 11, 2020Close154.250Jan 8, 2021Close150.875Feb 4, 2021Close152.688Mar 3, 2021Close144.094Mar 29, 2021Close143.594Apr 22, 2021Close145.719May 18, 2021Close146.531Jun 14, 2021Close148.500Jul 9, 2021Close149.781Aug 4, 2021Close153.813Aug 30, 2021Close152.969Sep 24, 2021Close149.875Oct 21, 2021Close151.188Nov 17, 2021Close153.313Dec 14, 2021Close150.875Jan 10, 2022Close145.594Feb 4, 2022Close140.656Mar 3, 2022Close145.500Mar 29, 2022Close140.219Apr 25, 2022Close133.063May 19, 2022Close125.594Jun 15, 2022Close120.625Jul 13, 2022Close119.000Aug 8, 2022Close123.344Sep 1, 2022Close116.563Sep 28, 2022Close107.813Oct 25, 2022Close103.594Nov 21, 2022Close106.000Dec 16, 2022Close109.094Jan 13, 2023Close109.469Feb 9, 2023Close109.563Mar 8, 2023Close106.625Apr 3, 2023Close110.344Apr 27, 2023Close110.031May 23, 2023Close107.438Jun 20, 2023Close108.000Jul 17, 2023Close106.625Aug 10, 2023Close102.313Sep 6, 2023Close100.469Oct 2, 2023Close95.469Oct 27, 2023Close93.938Nov 22, 2023Close98.250Dec 19, 2023Close103.406Jan 17, 2024Close101.469Feb 12, 2024Close100.563Mar 8, 2024Close102.500Apr 3, 2024Close99.500Apr 29, 2024Close97.438May 23, 2024Close98.469Jun 20, 2024Close100.500Jul 17, 2024Close101.563Aug 12, 2024Close102.250Sep 6, 2024Close103.469Oct 2, 2024Close104.656Oct 29, 2024Close100.094Nov 25, 2024Close100.281Dec 20, 2024Close96.938Jan 17, 2025Close96.656Feb 13, 2025Close98.844Mar 12, 2025Close99.625Apr 7, 2025Close99.969May 1, 2025Close98.813May 28, 2025Close96.625Jun 24, 2025Close98.219Jul 21, 2025Close98.406Aug 14, 2025Close98.750Sep 10, 2025Close101.438Oct 6, 2025Close100.219Oct 31, 2025Close100.906Nov 28, 2025Close100.656Dec 24, 2025Close99.313Jan 22, 2026Close99.219Feb 18, 2026Close100.969Mar 16, 2026Close99.438Apr 9, 2026Close98.625May 5, 2026Close98.438Jun 1, 2026Close97.969Jun 26, 2026Close97.250Jul 23, 2026Close93.938Aug 18, 2026Close93.781Sep 9, 2026Close93.719
The most recent 20 trading days of prices for 912810QF8.
DateBidOfferClose
Sep 9, 202693.65693.56393.719
Sep 8, 202694.17294.09494.031
Sep 4, 202694.07894.00094.063
Sep 3, 202694.43894.37594.094
Sep 2, 202693.96993.90693.906
Sep 1, 202694.03193.96993.906
Aug 31, 202693.93893.87593.969
Aug 28, 202694.70394.62594.219
Aug 27, 202695.00094.93894.875
Aug 26, 202694.93894.87594.906
Aug 25, 202694.98494.90694.969
Aug 24, 202694.62594.56394.375
Aug 21, 202694.34494.28194.063
Aug 20, 202694.34494.28194.594
Aug 19, 202694.71994.65694.656
Aug 18, 202693.70393.62593.781
Aug 17, 202693.73493.65693.438
Aug 14, 202693.89193.81393.906
Aug 13, 202694.35994.28194.219
Aug 12, 202694.09494.03193.906

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 912810QF8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 22, 2010Feb 26, 2010New issue$8.0bn$8.0bn2.45x2.229%
Aug 23, 2010Aug 31, 2010Reopening$7.0bn$7.2bn2.78x1.768%

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.