Inflation-linked (TIPS)

912810QV3 · 0.75% due February 15, 2042

Original term
30-Year
Maturity
Feb 15, 2042
Coupon
0.750%
Pays
Semi-Annual
Dated
Feb 15, 2012
First coupon
Aug 15, 2012
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$33.52bn
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
2.837%
Index ratio
1.4779
Real duration
14.208 yr
DV01
0.1053
Convexity
218.298
Real clean price
74.063
Accrued (real)
0.053
Real dirty price
74.115
Indexed principal
147.788
Money clean price
109.455

The index ratio is a multiplier, not a percentage: 1.4779 means the principal is worth that many times its original face today. So the real clean price of 74.063 is not what a buyer pays , multiply by the ratio to get 109.455 per 100 of original face.

Against the fitted real curve

Priced 1.3 bp cheap to the real curve on that day, 14.04 cents per 100 of face.

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

Real yield, 3,634 observations

-1%0%1%2%3%Feb 29, 2012Sep 9, 2026Feb 29, 2012Real yield0.731%Mar 22, 2012Real yield0.910%Apr 13, 2012Real yield0.770%May 7, 2012Real yield0.746%May 30, 2012Real yield0.570%Jun 21, 2012Real yield0.516%Jul 16, 2012Real yield0.365%Aug 7, 2012Real yield0.377%Aug 29, 2012Real yield0.437%Sep 21, 2012Real yield0.458%Oct 16, 2012Real yield0.457%Nov 8, 2012Real yield0.262%Dec 4, 2012Real yield0.278%Dec 27, 2012Real yield0.336%Jan 22, 2013Real yield0.439%Feb 13, 2013Real yield0.593%Mar 8, 2013Real yield0.646%Apr 2, 2013Real yield0.570%Apr 24, 2013Real yield0.429%May 16, 2013Real yield0.678%Jun 10, 2013Real yield1.137%Jul 2, 2013Real yield1.207%Jul 25, 2013Real yield1.369%Aug 16, 2013Real yield1.567%Sep 10, 2013Real yield1.592%Oct 2, 2013Real yield1.366%Oct 25, 2013Real yield1.293%Nov 19, 2013Real yield1.508%Dec 12, 2013Real yield1.630%Jan 7, 2014Real yield1.517%Jan 30, 2014Real yield1.362%Feb 24, 2014Real yield1.454%Mar 18, 2014Real yield1.329%Apr 9, 2014Real yield1.306%May 2, 2014Real yield1.068%May 27, 2014Real yield1.067%Jun 18, 2014Real yield1.120%Jul 11, 2014Real yield0.978%Aug 4, 2014Real yield0.958%Aug 26, 2014Real yield0.891%Sep 19, 2014Real yield1.122%Oct 14, 2014Real yield0.887%Nov 5, 2014Real yield0.967%Dec 2, 2014Real yield1.008%Dec 24, 2014Real yield0.915%Jan 20, 2015Real yield0.644%Feb 11, 2015Real yield0.769%Mar 6, 2015Real yield0.859%Mar 30, 2015Real yield0.703%Apr 21, 2015Real yield0.647%May 13, 2015Real yield1.059%Jun 5, 2015Real yield1.151%Jun 29, 2015Real yield1.099%Jul 22, 2015Real yield1.107%Aug 13, 2015Real yield1.085%Sep 4, 2015Real yield1.188%Sep 29, 2015Real yield1.288%Oct 22, 2015Real yield1.215%Nov 16, 2015Real yield1.339%Dec 9, 2015Real yield1.242%Jan 4, 2016Real yield1.273%Jan 27, 2016Real yield1.241%Feb 19, 2016Real yield1.155%Mar 14, 2016Real yield1.131%Apr 6, 2016Real yield0.869%Apr 28, 2016Real yield0.891%May 20, 2016Real yield0.925%Jun 14, 2016Real yield0.881%Jul 7, 2016Real yield0.595%Jul 29, 2016Real yield0.594%Aug 22, 2016Real yield0.616%Sep 14, 2016Real yield0.741%Oct 6, 2016Real yield0.696%Oct 31, 2016Real yield0.715%Nov 23, 2016Real yield0.947%Dec 16, 2016Real yield1.206%Jan 11, 2017Real yield0.885%Feb 3, 2017Real yield1.021%Feb 28, 2017Real yield0.871%Mar 22, 2017Real yield0.958%Apr 13, 2017Real yield0.846%May 8, 2017Real yield1.034%May 31, 2017Real yield0.900%Jun 22, 2017Real yield0.861%Jul 17, 2017Real yield0.985%Aug 8, 2017Real yield0.943%Aug 30, 2017Real yield0.887%Sep 22, 2017Real yield0.855%Oct 17, 2017Real yield0.870%Nov 8, 2017Real yield0.818%Dec 1, 2017Real yield0.797%Dec 26, 2017Real yield0.810%Jan 19, 2018Real yield0.794%Feb 12, 2018Real yield0.983%Mar 7, 2018Real yield1.002%Mar 29, 2018Real yield0.876%Apr 23, 2018Real yield0.938%May 15, 2018Real yield0.994%Jun 7, 2018Real yield0.927%Jun 29, 2018Real yield0.854%Jul 24, 2018Real yield0.950%Aug 15, 2018Real yield0.923%Sep 7, 2018Real yield0.971%Oct 1, 2018Real yield1.089%Oct 24, 2018Real yield1.234%Nov 16, 2018Real yield1.255%Dec 12, 2018Real yield1.242%Jan 7, 2019Real yield1.182%Jan 30, 2019Real yield1.154%Feb 22, 2019Real yield1.049%Mar 18, 2019Real yield0.996%Apr 9, 2019Real yield0.948%May 2, 2019Real yield0.972%May 24, 2019Real yield0.858%Jun 18, 2019Real yield0.779%Jul 11, 2019Real yield0.758%Aug 2, 2019Real yield0.638%Aug 26, 2019Real yield0.389%Sep 18, 2019Real yield0.547%Oct 10, 2019Real yield0.520%Nov 4, 2019Real yield0.521%Nov 27, 2019Real yield0.437%Dec 20, 2019Real yield0.498%Jan 15, 2020Real yield0.416%Feb 7, 2020Real yield0.291%Mar 3, 2020Real yield0.023%Mar 25, 2020Real yield0.072%Apr 17, 2020Real yield-0.012%May 11, 2020Real yield-0.026%Jun 3, 2020Real yield0.028%Jun 25, 2020Real yield-0.156%Jul 20, 2020Real yield-0.302%Aug 11, 2020Real yield-0.413%Sep 2, 2020Real yield-0.469%Sep 25, 2020Real yield-0.406%Oct 20, 2020Real yield-0.340%Nov 12, 2020Real yield-0.328%Dec 7, 2020Real yield-0.396%Dec 30, 2020Real yield-0.451%Jan 25, 2021Real yield-0.457%Feb 17, 2021Real yield-0.271%Mar 11, 2021Real yield-0.064%Apr 2, 2021Real yield-0.025%Apr 26, 2021Real yield-0.120%May 18, 2021Real yield-0.130%Jun 10, 2021Real yield-0.256%Jul 2, 2021Real yield-0.301%Jul 27, 2021Real yield-0.448%Aug 18, 2021Real yield-0.386%Sep 10, 2021Real yield-0.441%Oct 4, 2021Real yield-0.329%Oct 27, 2021Real yield-0.558%Nov 19, 2021Real yield-0.589%Dec 14, 2021Real yield-0.407%Jan 6, 2022Real yield-0.178%Jan 31, 2022Real yield-0.156%Feb 23, 2022Real yield0.063%Mar 17, 2022Real yield-0.101%Apr 8, 2022Real yield0.311%May 3, 2022Real yield0.568%May 25, 2022Real yield0.783%Jun 17, 2022Real yield1.034%Jul 13, 2022Real yield1.119%Aug 4, 2022Real yield0.876%Aug 26, 2022Real yield1.005%Sep 20, 2022Real yield1.477%Oct 13, 2022Real yield1.961%Nov 4, 2022Real yield1.991%Nov 30, 2022Real yield1.660%Dec 22, 2022Real yield1.654%Jan 18, 2023Real yield1.486%Feb 9, 2023Real yield1.543%Mar 6, 2023Real yield1.621%Mar 28, 2023Real yield1.586%Apr 19, 2023Real yield1.599%May 11, 2023Real yield1.587%Jun 5, 2023Real yield1.736%Jun 28, 2023Real yield1.677%Jul 21, 2023Real yield1.706%Aug 14, 2023Real yield2.039%Sep 6, 2023Real yield2.131%Sep 28, 2023Real yield2.361%Oct 23, 2023Real yield2.656%Nov 14, 2023Real yield2.349%Dec 7, 2023Real yield2.123%Jan 2, 2024Real yield1.997%Jan 25, 2024Real yield2.139%Feb 16, 2024Real yield2.178%Mar 12, 2024Real yield2.073%Apr 3, 2024Real yield2.243%Apr 25, 2024Real yield2.452%May 17, 2024Real yield2.248%Jun 11, 2024Real yield2.240%Jul 5, 2024Real yield2.177%Jul 29, 2024Real yield2.158%Aug 20, 2024Real yield1.970%Sep 12, 2024Real yield1.894%Oct 4, 2024Real yield1.973%Oct 29, 2024Real yield2.164%Nov 21, 2024Real yield2.264%Dec 16, 2024Real yield2.274%Jan 9, 2025Real yield2.523%Feb 3, 2025Real yield2.275%Feb 26, 2025Real yield2.115%Mar 20, 2025Real yield2.187%Apr 11, 2025Real yield2.567%May 5, 2025Real yield2.440%May 28, 2025Real yield2.550%Jun 20, 2025Real yield2.461%Jul 15, 2025Real yield2.531%Aug 6, 2025Real yield2.380%Aug 28, 2025Real yield2.367%Sep 22, 2025Real yield2.292%Oct 15, 2025Real yield2.214%Nov 6, 2025Real yield2.271%Dec 2, 2025Real yield2.333%Dec 24, 2025Real yield2.386%Jan 20, 2026Real yield2.445%Feb 11, 2026Real yield2.326%Mar 6, 2026Real yield2.317%Mar 30, 2026Real yield2.516%Apr 21, 2026Real yield2.431%May 13, 2026Real yield2.520%Jun 5, 2026Real yield2.576%Jun 30, 2026Real yield2.582%Jul 23, 2026Real yield2.847%Aug 14, 2026Real yield2.856%Sep 8, 2026Real yield2.816%Sep 9, 2026Real yield2.837%

Price history

3,634 trading days to Sep 9, 2026

708090100110120130140Feb 29, 2012Sep 9, 2026Feb 29, 2012Close100.500Mar 22, 2012Close95.813Apr 13, 2012Close99.469May 7, 2012Close100.094May 30, 2012Close104.906Jun 21, 2012Close106.438Jul 16, 2012Close110.781Aug 7, 2012Close110.406Aug 29, 2012Close108.656Sep 21, 2012Close108.031Oct 16, 2012Close108.031Nov 8, 2012Close113.750Dec 4, 2012Close113.219Dec 27, 2012Close111.469Jan 22, 2013Close108.469Feb 13, 2013Close104.188Mar 8, 2013Close102.750Apr 2, 2013Close104.781Apr 24, 2013Close108.688May 16, 2013Close101.875Jun 10, 2013Close90.563Jul 2, 2013Close88.969Jul 25, 2013Close85.406Aug 16, 2013Close81.281Sep 10, 2013Close80.813Oct 2, 2013Close85.563Oct 25, 2013Close87.156Nov 19, 2013Close82.625Dec 12, 2013Close80.188Jan 7, 2014Close82.500Jan 30, 2014Close85.781Feb 24, 2014Close83.875Mar 18, 2014Close86.531Apr 9, 2014Close87.063May 2, 2014Close92.375May 27, 2014Close92.406Jun 18, 2014Close91.219Jul 11, 2014Close94.500Aug 4, 2014Close94.969Aug 26, 2014Close96.563Sep 19, 2014Close91.250Oct 14, 2014Close96.688Nov 5, 2014Close94.813Dec 2, 2014Close93.875Dec 24, 2014Close96.031Jan 20, 2015Close102.625Feb 11, 2015Close99.531Mar 6, 2015Close97.375Mar 30, 2015Close101.156Apr 21, 2015Close102.531May 13, 2015Close92.813Jun 5, 2015Close90.813Jun 29, 2015Close91.969Jul 22, 2015Close91.813Aug 13, 2015Close92.313Sep 4, 2015Close90.094Sep 29, 2015Close88.000Oct 22, 2015Close89.563Nov 16, 2015Close87.000Dec 9, 2015Close89.031Jan 4, 2016Close88.406Jan 27, 2016Close89.094Feb 19, 2016Close90.938Mar 14, 2016Close91.469Apr 6, 2016Close97.250Apr 28, 2016Close96.750May 20, 2016Close96.000Jun 14, 2016Close97.000Jul 7, 2016Close103.688Jul 29, 2016Close103.688Aug 22, 2016Close103.156Sep 14, 2016Close100.219Oct 6, 2016Close101.250Oct 31, 2016Close100.813Nov 23, 2016Close95.594Dec 16, 2016Close90.125Jan 11, 2017Close96.969Feb 3, 2017Close94.031Feb 28, 2017Close97.281Mar 22, 2017Close95.406Apr 13, 2017Close97.844May 8, 2017Close93.813May 31, 2017Close96.688Jun 22, 2017Close97.531Jul 17, 2017Close94.875Aug 8, 2017Close95.781Aug 30, 2017Close97.000Sep 22, 2017Close97.688Oct 17, 2017Close97.375Nov 8, 2017Close98.500Dec 1, 2017Close98.969Dec 26, 2017Close98.688Jan 19, 2018Close99.031Feb 12, 2018Close95.031Mar 7, 2018Close94.656Mar 29, 2018Close97.281Apr 23, 2018Close96.000May 15, 2018Close94.844Jun 7, 2018Close96.250Jun 29, 2018Close97.781Jul 24, 2018Close95.781Aug 15, 2018Close96.344Sep 7, 2018Close95.375Oct 1, 2018Close93.031Oct 24, 2018Close90.219Nov 16, 2018Close89.844Dec 12, 2018Close90.125Jan 7, 2019Close91.281Jan 30, 2019Close91.844Feb 22, 2019Close93.906Mar 18, 2019Close94.969Apr 9, 2019Close95.938May 2, 2019Close95.469May 24, 2019Close97.781Jun 18, 2019Close99.406Jul 11, 2019Close99.844Aug 2, 2019Close102.344Aug 26, 2019Close107.750Sep 18, 2019Close104.281Oct 10, 2019Close104.844Nov 4, 2019Close104.813Nov 27, 2019Close106.625Dec 20, 2019Close105.281Jan 15, 2020Close107.031Feb 7, 2020Close109.781Mar 3, 2020Close115.906Mar 25, 2020Close114.719Apr 17, 2020Close116.656May 11, 2020Close116.938Jun 3, 2020Close115.625Jun 25, 2020Close119.938Jul 20, 2020Close123.469Aug 11, 2020Close126.188Sep 2, 2020Close127.531Sep 25, 2020Close125.844Oct 20, 2020Close124.125Nov 12, 2020Close123.750Dec 7, 2020Close125.344Dec 30, 2020Close126.656Jan 25, 2021Close126.719Feb 17, 2021Close122.063Mar 11, 2021Close117.156Apr 2, 2021Close116.219Apr 26, 2021Close118.344May 18, 2021Close118.500Jun 10, 2021Close121.375Jul 2, 2021Close122.375Jul 27, 2021Close125.813Aug 18, 2021Close124.250Sep 10, 2021Close125.469Oct 4, 2021Close122.750Oct 27, 2021Close128.156Nov 19, 2021Close128.813Dec 14, 2021Close124.344Jan 6, 2022Close119.000Jan 31, 2022Close118.438Feb 23, 2022Close113.625Mar 17, 2022Close117.125Apr 8, 2022Close108.438May 3, 2022Close103.406May 25, 2022Close99.406Jun 17, 2022Close94.969Jul 13, 2022Close93.531Aug 4, 2022Close97.750Aug 26, 2022Close95.500Sep 20, 2022Close87.781Oct 13, 2022Close80.594Nov 4, 2022Close80.219Nov 30, 2022Close85.094Dec 22, 2022Close85.219Jan 18, 2023Close87.813Feb 9, 2023Close86.969Mar 6, 2023Close85.844Mar 28, 2023Close86.406Apr 19, 2023Close86.250May 11, 2023Close86.469Jun 5, 2023Close84.313Jun 28, 2023Close85.219Jul 21, 2023Close84.844Aug 14, 2023Close80.219Sep 6, 2023Close79.031Sep 28, 2023Close76.094Oct 23, 2023Close72.500Nov 14, 2023Close76.375Dec 7, 2023Close79.375Jan 2, 2024Close81.125Jan 25, 2024Close79.281Feb 16, 2024Close78.844Mar 12, 2024Close80.281Apr 3, 2024Close78.125Apr 25, 2024Close75.563May 17, 2024Close78.188Jun 11, 2024Close78.344Jul 5, 2024Close79.219Jul 29, 2024Close79.531Aug 20, 2024Close82.031Sep 12, 2024Close83.094Oct 4, 2024Close82.094Oct 29, 2024Close79.688Nov 21, 2024Close78.500Dec 16, 2024Close78.438Jan 9, 2025Close75.500Feb 3, 2025Close78.563Feb 26, 2025Close80.625Mar 20, 2025Close79.781Apr 11, 2025Close75.281May 5, 2025Close76.844May 28, 2025Close75.625Jun 20, 2025Close76.750Jul 15, 2025Close76.000Aug 6, 2025Close77.844Aug 28, 2025Close78.063Sep 22, 2025Close79.031Oct 15, 2025Close80.031Nov 6, 2025Close79.406Dec 2, 2025Close78.750Dec 24, 2025Close78.188Jan 20, 2026Close77.594Feb 11, 2026Close79.031Mar 6, 2026Close79.219Mar 30, 2026Close77.000Apr 21, 2026Close78.031May 13, 2026Close77.094Jun 5, 2026Close76.563Jun 30, 2026Close76.563Jul 23, 2026Close73.781Aug 14, 2026Close73.781Sep 8, 2026Close74.281Sep 9, 2026Close74.063
The most recent 20 trading days of prices for 912810QV3.
DateBidOfferClose
Sep 9, 202673.93873.84474.063
Sep 8, 202674.40674.34474.281
Sep 4, 202674.28174.21974.250
Sep 3, 202674.57874.50074.281
Sep 2, 202674.12574.06374.063
Sep 1, 202674.15674.09474.031
Aug 31, 202673.96973.90674.031
Aug 28, 202674.76674.68874.313
Aug 27, 202674.92274.87574.813
Aug 26, 202674.87574.81374.875
Aug 25, 202674.89174.81374.906
Aug 24, 202674.53174.46974.313
Aug 21, 202674.28174.21974.000
Aug 20, 202674.23474.18874.531
Aug 19, 202674.59474.53174.563
Aug 18, 202673.53173.46973.625
Aug 17, 202673.57873.50073.281
Aug 14, 202673.73473.65673.781
Aug 13, 202674.18874.12574.063
Aug 12, 202673.95373.87573.750

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 912810QV3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 16, 2012Feb 29, 2012New issue$9.0bn$9.1bn2.46x0.770%
Jun 21, 2012Jun 29, 2012Reopening$7.0bn$7.0bn2.64x0.520%
Oct 18, 2012Oct 31, 2012Reopening$7.0bn$7.0bn2.82x0.479%

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.

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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.