Inflation-linked (TIPS)

912810RA8 · 0.625% due February 15, 2043

Original term
30-Year
Maturity
Feb 15, 2043
Coupon
0.625%
Pays
Semi-Annual
Dated
Feb 15, 2013
First coupon
Aug 15, 2013
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$33.34bn
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
2.879%
Index ratio
1.4525
Real duration
15.210 yr
DV01
0.1075
Convexity
248.798
Real clean price
70.656
Accrued (real)
0.044
Real dirty price
70.700
Indexed principal
145.248
Money clean price
102.627

The index ratio is a multiplier, not a percentage: 1.4525 means the principal is worth that many times its original face today. So the real clean price of 70.656 is not what a buyer pays , multiply by the ratio to get 102.627 per 100 of original face.

Against the fitted real curve

Priced 1.0 bp cheap to the real curve on that day, 10.38 cents per 100 of face.

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

Real yield, 3,384 observations

-1%0%1%2%3%Feb 28, 2013Sep 9, 2026Feb 28, 2013Real yield0.547%Mar 21, 2013Real yield0.646%Apr 12, 2013Real yield0.467%May 3, 2013Real yield0.564%May 24, 2013Real yield0.801%Jun 17, 2013Real yield1.208%Jul 9, 2013Real yield1.400%Jul 30, 2013Real yield1.386%Aug 20, 2013Real yield1.577%Sep 11, 2013Real yield1.550%Oct 2, 2013Real yield1.375%Oct 24, 2013Real yield1.326%Nov 15, 2013Real yield1.506%Dec 9, 2013Real yield1.615%Dec 31, 2013Real yield1.636%Jan 23, 2014Real yield1.379%Feb 13, 2014Real yield1.418%Mar 7, 2014Real yield1.392%Mar 28, 2014Real yield1.293%Apr 21, 2014Real yield1.226%May 12, 2014Real yield1.195%Jun 3, 2014Real yield1.162%Jun 24, 2014Real yield1.055%Jul 16, 2014Real yield1.012%Aug 6, 2014Real yield0.943%Aug 27, 2014Real yield0.854%Sep 19, 2014Real yield1.121%Oct 10, 2014Real yield0.934%Nov 3, 2014Real yield0.991%Nov 26, 2014Real yield0.954%Dec 18, 2014Real yield0.913%Jan 12, 2015Real yield0.695%Feb 3, 2015Real yield0.635%Feb 25, 2015Real yield0.695%Mar 18, 2015Real yield0.673%Apr 8, 2015Real yield0.651%Apr 29, 2015Real yield0.780%May 20, 2015Real yield1.067%Jun 11, 2015Real yield1.177%Jul 2, 2015Real yield1.162%Jul 24, 2015Real yield1.073%Aug 14, 2015Real yield1.071%Sep 4, 2015Real yield1.190%Sep 28, 2015Real yield1.292%Oct 20, 2015Real yield1.273%Nov 10, 2015Real yield1.334%Dec 3, 2015Real yield1.287%Dec 24, 2015Real yield1.283%Jan 19, 2016Real yield1.280%Feb 9, 2016Real yield1.111%Mar 2, 2016Real yield1.041%Mar 23, 2016Real yield0.947%Apr 14, 2016Real yield0.930%May 5, 2016Real yield0.859%May 26, 2016Real yield0.903%Jun 17, 2016Real yield0.883%Jul 11, 2016Real yield0.596%Aug 1, 2016Real yield0.651%Aug 22, 2016Real yield0.610%Sep 13, 2016Real yield0.756%Oct 4, 2016Real yield0.669%Oct 26, 2016Real yield0.663%Nov 17, 2016Real yield0.964%Dec 9, 2016Real yield1.049%Jan 3, 2017Real yield0.951%Jan 25, 2017Real yield0.965%Feb 15, 2017Real yield0.939%Mar 9, 2017Real yield1.084%Mar 30, 2017Real yield0.961%Apr 21, 2017Real yield0.921%May 12, 2017Real yield1.005%Jun 5, 2017Real yield0.905%Jun 26, 2017Real yield0.852%Jul 18, 2017Real yield0.962%Aug 8, 2017Real yield0.951%Aug 29, 2017Real yield0.893%Sep 20, 2017Real yield0.882%Oct 12, 2017Real yield0.886%Nov 2, 2017Real yield0.876%Nov 24, 2017Real yield0.840%Dec 15, 2017Real yield0.748%Jan 9, 2018Real yield0.815%Jan 31, 2018Real yield0.786%Feb 22, 2018Real yield1.041%Mar 15, 2018Real yield0.951%Apr 6, 2018Real yield0.906%Apr 27, 2018Real yield0.922%May 18, 2018Real yield1.038%Jun 11, 2018Real yield0.961%Jul 2, 2018Real yield0.849%Jul 24, 2018Real yield0.952%Aug 14, 2018Real yield0.943%Sep 5, 2018Real yield0.949%Sep 26, 2018Real yield1.029%Oct 18, 2018Real yield1.232%Nov 8, 2018Real yield1.327%Dec 3, 2018Real yield1.235%Dec 26, 2018Real yield1.214%Jan 17, 2019Real yield1.220%Feb 8, 2019Real yield1.098%Mar 4, 2019Real yield1.111%Mar 25, 2019Real yield0.926%Apr 15, 2019Real yield0.988%May 7, 2019Real yield0.940%May 29, 2019Real yield0.836%Jun 19, 2019Real yield0.759%Jul 11, 2019Real yield0.791%Aug 1, 2019Real yield0.690%Aug 22, 2019Real yield0.501%Sep 13, 2019Real yield0.642%Oct 4, 2019Real yield0.409%Oct 28, 2019Real yield0.592%Nov 19, 2019Real yield0.508%Dec 11, 2019Real yield0.456%Jan 3, 2020Real yield0.440%Jan 27, 2020Real yield0.324%Feb 18, 2020Real yield0.261%Mar 10, 2020Real yield0.117%Mar 31, 2020Real yield0.204%Apr 22, 2020Real yield-0.134%May 13, 2020Real yield-0.052%Jun 4, 2020Real yield0.074%Jun 25, 2020Real yield-0.155%Jul 17, 2020Real yield-0.276%Aug 7, 2020Real yield-0.422%Aug 28, 2020Real yield-0.310%Sep 21, 2020Real yield-0.331%Oct 13, 2020Real yield-0.370%Nov 3, 2020Real yield-0.292%Nov 25, 2020Real yield-0.343%Dec 17, 2020Real yield-0.393%Jan 11, 2021Real yield-0.276%Feb 2, 2021Real yield-0.375%Feb 24, 2021Real yield-0.029%Mar 17, 2021Real yield0.058%Apr 7, 2021Real yield0.054%Apr 28, 2021Real yield-0.084%May 19, 2021Real yield-0.039%Jun 10, 2021Real yield-0.225%Jul 1, 2021Real yield-0.256%Jul 23, 2021Real yield-0.366%Aug 13, 2021Real yield-0.362%Sep 3, 2021Real yield-0.340%Sep 27, 2021Real yield-0.304%Oct 19, 2021Real yield-0.316%Nov 9, 2021Real yield-0.595%Dec 2, 2021Real yield-0.564%Dec 23, 2021Real yield-0.397%Jan 14, 2022Real yield-0.101%Feb 7, 2022Real yield0.045%Mar 1, 2022Real yield-0.204%Mar 22, 2022Real yield0.079%Apr 12, 2022Real yield0.385%May 4, 2022Real yield0.561%May 25, 2022Real yield0.817%Jun 16, 2022Real yield1.069%Jul 11, 2022Real yield1.237%Aug 1, 2022Real yield0.834%Aug 22, 2022Real yield1.068%Sep 13, 2022Real yield1.427%Oct 4, 2022Real yield1.883%Oct 26, 2022Real yield1.987%Nov 17, 2022Real yield1.811%Dec 9, 2022Real yield1.473%Jan 3, 2023Real yield1.721%Jan 25, 2023Real yield1.413%Feb 15, 2023Real yield1.638%Mar 9, 2023Real yield1.742%Mar 30, 2023Real yield1.575%Apr 20, 2023Real yield1.585%May 11, 2023Real yield1.594%Jun 2, 2023Real yield1.751%Jun 26, 2023Real yield1.689%Jul 18, 2023Real yield1.764%Aug 8, 2023Real yield1.962%Aug 29, 2023Real yield2.017%Sep 20, 2023Real yield2.132%Oct 12, 2023Real yield2.570%Nov 2, 2023Real yield2.449%Nov 24, 2023Real yield2.377%Dec 15, 2023Real yield1.905%Jan 9, 2024Real yield2.074%Jan 31, 2024Real yield2.019%Feb 22, 2024Real yield2.215%Mar 14, 2024Real yield2.215%Apr 4, 2024Real yield2.220%Apr 25, 2024Real yield2.460%May 16, 2024Real yield2.229%Jun 7, 2024Real yield2.253%Jul 1, 2024Real yield2.339%Jul 23, 2024Real yield2.211%Aug 13, 2024Real yield2.045%Sep 4, 2024Real yield1.977%Sep 25, 2024Real yield1.931%Oct 17, 2024Real yield2.048%Nov 7, 2024Real yield2.196%Dec 2, 2024Real yield2.146%Dec 23, 2024Real yield2.467%Jan 15, 2025Real yield2.496%Feb 6, 2025Real yield2.235%Feb 28, 2025Real yield2.141%Mar 21, 2025Real yield2.256%Apr 11, 2025Real yield2.614%May 2, 2025Real yield2.453%May 23, 2025Real yield2.624%Jun 16, 2025Real yield2.583%Jul 9, 2025Real yield2.476%Jul 30, 2025Real yield2.461%Aug 20, 2025Real yield2.509%Sep 11, 2025Real yield2.232%Oct 2, 2025Real yield2.293%Oct 24, 2025Real yield2.205%Nov 17, 2025Real yield2.343%Dec 9, 2025Real yield2.434%Dec 31, 2025Real yield2.475%Jan 23, 2026Real yield2.402%Feb 13, 2026Real yield2.276%Mar 9, 2026Real yield2.338%Mar 30, 2026Real yield2.554%Apr 20, 2026Real yield2.474%May 11, 2026Real yield2.536%Jun 2, 2026Real yield2.540%Jun 24, 2026Real yield2.599%Jul 16, 2026Real yield2.808%Aug 6, 2026Real yield2.905%Aug 27, 2026Real yield2.814%Sep 9, 2026Real yield2.879%

Price history

3,384 trading days to Sep 9, 2026

60708090100110120130Feb 28, 2013Sep 9, 2026Feb 28, 2013Close102.156Mar 21, 2013Close99.438Apr 12, 2013Close104.406May 3, 2013Close101.656May 24, 2013Close95.344Jun 17, 2013Close85.500Jul 9, 2013Close81.281Jul 30, 2013Close81.594Aug 20, 2013Close77.625Sep 11, 2013Close78.219Oct 2, 2013Close81.938Oct 24, 2013Close83.031Nov 15, 2013Close79.219Dec 9, 2013Close77.031Dec 31, 2013Close76.656Jan 23, 2014Close82.000Feb 13, 2014Close81.188Mar 7, 2014Close81.781Mar 28, 2014Close83.938Apr 21, 2014Close85.438May 12, 2014Close86.156Jun 3, 2014Close86.938Jun 24, 2014Close89.406Jul 16, 2014Close90.406Aug 6, 2014Close92.063Aug 27, 2014Close94.219Sep 19, 2014Close87.969Oct 10, 2014Close92.313Nov 3, 2014Close91.000Nov 26, 2014Close91.875Dec 18, 2014Close92.875Jan 12, 2015Close98.219Feb 3, 2015Close99.750Feb 25, 2015Close98.219Mar 18, 2015Close98.781Apr 8, 2015Close99.344Apr 29, 2015Close96.125May 20, 2015Close89.406Jun 11, 2015Close87.000Jul 2, 2015Close87.344Jul 24, 2015Close89.344Aug 14, 2015Close89.406Sep 4, 2015Close86.813Sep 28, 2015Close84.656Oct 20, 2015Close85.094Nov 10, 2015Close83.844Dec 3, 2015Close84.844Dec 24, 2015Close84.969Jan 19, 2016Close85.063Feb 9, 2016Close88.688Mar 2, 2016Close90.250Mar 23, 2016Close92.375Apr 14, 2016Close92.781May 5, 2016Close94.406May 26, 2016Close93.406Jun 17, 2016Close93.875Jul 11, 2016Close100.719Aug 1, 2016Close99.375Aug 22, 2016Close100.375Sep 13, 2016Close96.875Oct 4, 2016Close98.938Oct 26, 2016Close99.094Nov 17, 2016Close92.156Dec 9, 2016Close90.313Jan 3, 2017Close92.469Jan 25, 2017Close92.188Feb 15, 2017Close92.781Mar 9, 2017Close89.656Mar 30, 2017Close92.313Apr 21, 2017Close93.219May 12, 2017Close91.406Jun 5, 2017Close93.594Jun 26, 2017Close94.781Jul 18, 2017Close92.375Aug 8, 2017Close92.625Aug 29, 2017Close93.906Sep 20, 2017Close94.156Oct 12, 2017Close94.094Nov 2, 2017Close94.313Nov 24, 2017Close95.125Dec 15, 2017Close97.188Jan 9, 2018Close95.688Jan 31, 2018Close96.344Feb 22, 2018Close90.875Mar 15, 2018Close92.781Apr 6, 2018Close93.750Apr 27, 2018Close93.438May 18, 2018Close91.000Jun 11, 2018Close92.625Jul 2, 2018Close95.031Jul 24, 2018Close92.844Aug 14, 2018Close93.063Sep 5, 2018Close92.938Sep 26, 2018Close91.313Oct 18, 2018Close87.281Nov 8, 2018Close85.469Dec 3, 2018Close87.281Dec 26, 2018Close87.719Jan 17, 2019Close87.625Feb 8, 2019Close90.031Mar 4, 2019Close89.813Mar 25, 2019Close93.563Apr 15, 2019Close92.313May 7, 2019Close93.313May 29, 2019Close95.469Jun 19, 2019Close97.094Jul 11, 2019Close96.438Aug 1, 2019Close98.594Aug 22, 2019Close102.750Sep 13, 2019Close99.625Oct 4, 2019Close104.813Oct 28, 2019Close100.719Nov 19, 2019Close102.563Dec 11, 2019Close103.719Jan 3, 2020Close104.063Jan 27, 2020Close106.688Feb 18, 2020Close108.125Mar 10, 2020Close111.500Mar 31, 2020Close109.406Apr 22, 2020Close117.594May 13, 2020Close115.500Jun 4, 2020Close112.406Jun 25, 2020Close117.969Jul 17, 2020Close121.000Aug 7, 2020Close124.750Aug 28, 2020Close121.750Sep 21, 2020Close122.250Oct 13, 2020Close123.188Nov 3, 2020Close121.125Nov 25, 2020Close122.375Dec 17, 2020Close123.594Jan 11, 2021Close120.531Feb 2, 2021Close123.000Feb 24, 2021Close114.406Mar 17, 2021Close112.344Apr 7, 2021Close112.406Apr 28, 2021Close115.594May 19, 2021Close114.500Jun 10, 2021Close118.906Jul 1, 2021Close119.594Jul 23, 2021Close122.250Aug 13, 2021Close122.094Sep 3, 2021Close121.469Sep 27, 2021Close120.531Oct 19, 2021Close120.781Nov 9, 2021Close127.688Dec 2, 2021Close126.813Dec 23, 2021Close122.563Jan 14, 2022Close115.469Feb 7, 2022Close112.125Mar 1, 2022Close117.750Mar 22, 2022Close111.313Apr 12, 2022Close104.813May 4, 2022Close101.250May 25, 2022Close96.344Jun 16, 2022Close91.781Jul 11, 2022Close88.906Aug 1, 2022Close96.063Aug 22, 2022Close91.875Sep 13, 2022Close85.844Oct 4, 2022Close78.813Oct 26, 2022Close77.344Nov 17, 2022Close79.969Dec 9, 2022Close85.250Jan 3, 2023Close81.438Jan 25, 2023Close86.281Feb 15, 2023Close82.781Mar 9, 2023Close81.250Mar 30, 2023Close83.844Apr 20, 2023Close83.719May 11, 2023Close83.625Jun 2, 2023Close81.313Jun 26, 2023Close82.281Jul 18, 2023Close81.219Aug 8, 2023Close78.406Aug 29, 2023Close77.688Sep 20, 2023Close76.156Oct 12, 2023Close70.500Nov 2, 2023Close72.094Nov 24, 2023Close73.094Dec 15, 2023Close79.531Jan 9, 2024Close77.250Jan 31, 2024Close78.063Feb 22, 2024Close75.469Mar 14, 2024Close75.531Apr 4, 2024Close75.531Apr 25, 2024Close72.500May 16, 2024Close75.531Jun 7, 2024Close75.281Jul 1, 2024Close74.250Jul 23, 2024Close75.969Aug 13, 2024Close78.219Sep 4, 2024Close79.188Sep 25, 2024Close79.875Oct 17, 2024Close78.344Nov 7, 2024Close76.469Dec 2, 2024Close77.188Dec 23, 2024Close73.188Jan 15, 2025Close72.906Feb 6, 2025Close76.219Feb 28, 2025Close77.500Mar 21, 2025Close76.094Apr 11, 2025Close71.781May 2, 2025Close73.781May 23, 2025Close71.813Jun 16, 2025Close72.375Jul 9, 2025Close73.719Jul 30, 2025Close73.969Aug 20, 2025Close73.469Sep 11, 2025Close76.906Oct 2, 2025Close76.219Oct 24, 2025Close77.375Nov 17, 2025Close75.750Dec 9, 2025Close74.719Dec 31, 2025Close74.313Jan 23, 2026Close75.250Feb 13, 2026Close76.844Mar 9, 2026Close76.156Mar 30, 2026Close73.688Apr 20, 2026Close74.688May 11, 2026Close74.031Jun 2, 2026Close74.063Jun 24, 2026Close73.469Jul 16, 2026Close71.219Aug 6, 2026Close70.250Aug 27, 2026Close71.313Sep 9, 2026Close70.656
The most recent 20 trading days of prices for 912810RA8.
DateBidOfferClose
Sep 9, 202670.53170.43870.656
Sep 8, 202670.98470.90670.875
Sep 4, 202670.84470.78170.813
Sep 3, 202671.12571.06370.844
Sep 2, 202670.67270.59470.594
Sep 1, 202670.67270.59470.531
Aug 31, 202670.46970.40670.531
Aug 28, 202671.31371.25070.844
Aug 27, 202671.42271.37571.313
Aug 26, 202671.34471.28171.344
Aug 25, 202671.37571.31371.375
Aug 24, 202671.03170.96970.781
Aug 21, 202670.71970.65670.438
Aug 20, 202670.67270.62570.969
Aug 19, 202671.06371.00071.000
Aug 18, 202669.95369.87570.063
Aug 17, 202670.00069.93869.688
Aug 14, 202670.17270.09470.250
Aug 13, 202670.67270.59470.531
Aug 12, 202670.40670.34470.219

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 912810RA8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 21, 2013Feb 28, 2013New issue$9.0bn$9.0bn2.47x0.639%
Jun 20, 2013Jun 28, 2013Reopening$7.0bn$7.0bn2.48x1.420%
Oct 24, 2013Oct 31, 2013Reopening$7.0bn$7.0bn2.76x1.330%

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.