Treasury bond

912810RN0 · 2.875% due August 15, 2045

Original term
30-Year
Maturity
Aug 15, 2045
Coupon
2.875%
Pays
Semi-Annual
Dated
Aug 15, 2015
First coupon
Feb 15, 2016
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$40.30bn
Held stripped
$2.66bn
Share stripped
6.59%

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
5.322%
Modified duration
13.381 yr
DV01
0.0953
Convexity
226.272
Dirty price
71.234

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 10 of twelve buckets, summing to 13.607 years against a modified duration of 13.381.

Against the fitted curve

Priced 1.4 bp cheap to the curve on that day, 13.64 cents per 100 of face.

That is -0.62 standard deviations from its own typical residual.

Yield to maturity, 2,768 observations

1%2%3%4%5%6%Aug 17, 2015Sep 9, 2026Aug 17, 2015Yield to maturity2.815%Sep 2, 2015Yield to maturity2.965%Sep 21, 2015Yield to maturity3.017%Oct 7, 2015Yield to maturity2.891%Oct 26, 2015Yield to maturity2.865%Nov 12, 2015Yield to maturity3.098%Dec 1, 2015Yield to maturity2.919%Dec 17, 2015Yield to maturity2.943%Jan 6, 2016Yield to maturity2.946%Jan 25, 2016Yield to maturity2.803%Feb 10, 2016Yield to maturity2.537%Feb 29, 2016Yield to maturity2.614%Mar 16, 2016Yield to maturity2.724%Apr 4, 2016Yield to maturity2.600%Apr 20, 2016Yield to maturity2.655%May 6, 2016Yield to maturity2.616%May 24, 2016Yield to maturity2.644%Jun 10, 2016Yield to maturity2.442%Jun 28, 2016Yield to maturity2.263%Jul 15, 2016Yield to maturity2.295%Aug 2, 2016Yield to maturity2.293%Aug 18, 2016Yield to maturity2.250%Sep 6, 2016Yield to maturity2.237%Sep 22, 2016Yield to maturity2.341%Oct 11, 2016Yield to maturity2.491%Oct 27, 2016Yield to maturity2.590%Nov 15, 2016Yield to maturity2.977%Dec 2, 2016Yield to maturity3.093%Dec 20, 2016Yield to maturity3.174%Jan 9, 2017Yield to maturity2.984%Jan 26, 2017Yield to maturity3.099%Feb 13, 2017Yield to maturity3.046%Mar 2, 2017Yield to maturity3.104%Mar 20, 2017Yield to maturity3.101%Apr 5, 2017Yield to maturity2.998%Apr 24, 2017Yield to maturity2.944%May 10, 2017Yield to maturity3.047%May 26, 2017Yield to maturity2.922%Jun 14, 2017Yield to maturity2.791%Jun 30, 2017Yield to maturity2.847%Jul 19, 2017Yield to maturity2.851%Aug 4, 2017Yield to maturity2.841%Aug 22, 2017Yield to maturity2.785%Sep 8, 2017Yield to maturity2.665%Sep 26, 2017Yield to maturity2.771%Oct 13, 2017Yield to maturity2.805%Oct 31, 2017Yield to maturity2.867%Nov 16, 2017Yield to maturity2.810%Dec 5, 2017Yield to maturity2.728%Dec 21, 2017Yield to maturity2.840%Jan 10, 2018Yield to maturity2.882%Jan 29, 2018Yield to maturity2.936%Feb 14, 2018Yield to maturity3.178%Mar 5, 2018Yield to maturity3.159%Mar 21, 2018Yield to maturity3.127%Apr 9, 2018Yield to maturity3.011%Apr 25, 2018Yield to maturity3.210%May 11, 2018Yield to maturity3.102%May 30, 2018Yield to maturity3.008%Jun 15, 2018Yield to maturity3.047%Jul 3, 2018Yield to maturity2.961%Jul 20, 2018Yield to maturity3.033%Aug 7, 2018Yield to maturity3.125%Aug 23, 2018Yield to maturity2.971%Sep 11, 2018Yield to maturity3.129%Sep 27, 2018Yield to maturity3.193%Oct 16, 2018Yield to maturity3.324%Nov 1, 2018Yield to maturity3.389%Nov 20, 2018Yield to maturity3.318%Dec 10, 2018Yield to maturity3.132%Dec 27, 2018Yield to maturity3.051%Jan 15, 2019Yield to maturity3.077%Feb 1, 2019Yield to maturity3.026%Feb 20, 2019Yield to maturity2.985%Mar 8, 2019Yield to maturity2.997%Mar 26, 2019Yield to maturity2.846%Apr 11, 2019Yield to maturity2.918%Apr 30, 2019Yield to maturity2.918%May 16, 2019Yield to maturity2.822%Jun 4, 2019Yield to maturity2.593%Jun 20, 2019Yield to maturity2.516%Jul 9, 2019Yield to maturity2.525%Jul 25, 2019Yield to maturity2.588%Aug 12, 2019Yield to maturity2.107%Aug 28, 2019Yield to maturity1.929%Sep 16, 2019Yield to maturity2.283%Oct 2, 2019Yield to maturity2.073%Oct 21, 2019Yield to maturity2.274%Nov 6, 2019Yield to maturity2.288%Nov 25, 2019Yield to maturity2.208%Dec 12, 2019Yield to maturity2.314%Dec 31, 2019Yield to maturity2.385%Jan 17, 2020Yield to maturity2.309%Feb 5, 2020Yield to maturity2.147%Feb 24, 2020Yield to maturity1.847%Mar 11, 2020Yield to maturity1.424%Mar 27, 2020Yield to maturity1.288%Apr 15, 2020Yield to maturity1.228%May 1, 2020Yield to maturity1.247%May 19, 2020Yield to maturity1.387%Jun 5, 2020Yield to maturity1.644%Jun 23, 2020Yield to maturity1.450%Jul 10, 2020Yield to maturity1.300%Jul 28, 2020Yield to maturity1.178%Aug 13, 2020Yield to maturity1.368%Aug 31, 2020Yield to maturity1.427%Sep 17, 2020Yield to maturity1.353%Oct 5, 2020Yield to maturity1.490%Oct 22, 2020Yield to maturity1.568%Nov 9, 2020Yield to maturity1.625%Nov 27, 2020Yield to maturity1.477%Dec 15, 2020Yield to maturity1.552%Jan 4, 2021Yield to maturity1.554%Jan 21, 2021Yield to maturity1.771%Feb 8, 2021Yield to maturity1.867%Feb 25, 2021Yield to maturity2.279%Mar 15, 2021Yield to maturity2.327%Mar 31, 2021Yield to maturity2.376%Apr 16, 2021Yield to maturity2.214%May 4, 2021Yield to maturity2.227%May 20, 2021Yield to maturity2.310%Jun 8, 2021Yield to maturity2.182%Jun 24, 2021Yield to maturity2.080%Jul 13, 2021Yield to maturity2.014%Jul 29, 2021Yield to maturity1.890%Aug 16, 2021Yield to maturity1.884%Sep 1, 2021Yield to maturity1.883%Sep 20, 2021Yield to maturity1.818%Oct 6, 2021Yield to maturity2.059%Oct 25, 2021Yield to maturity2.081%Nov 10, 2021Yield to maturity1.945%Nov 30, 2021Yield to maturity1.838%Dec 16, 2021Yield to maturity1.915%Jan 4, 2022Yield to maturity2.118%Jan 21, 2022Yield to maturity2.131%Feb 8, 2022Yield to maturity2.334%Feb 25, 2022Yield to maturity2.426%Mar 15, 2022Yield to maturity2.622%Mar 31, 2022Yield to maturity2.613%Apr 19, 2022Yield to maturity3.212%May 5, 2022Yield to maturity3.402%May 23, 2022Yield to maturity3.344%Jun 9, 2022Yield to maturity3.446%Jun 28, 2022Yield to maturity3.589%Jul 15, 2022Yield to maturity3.391%Aug 2, 2022Yield to maturity3.295%Aug 18, 2022Yield to maturity3.458%Sep 6, 2022Yield to maturity3.822%Sep 22, 2022Yield to maturity3.973%Oct 11, 2022Yield to maturity4.259%Oct 27, 2022Yield to maturity4.410%Nov 15, 2022Yield to maturity4.298%Dec 2, 2022Yield to maturity3.872%Dec 20, 2022Yield to maturity3.997%Jan 9, 2023Yield to maturity3.887%Jan 26, 2023Yield to maturity3.801%Feb 13, 2023Yield to maturity3.965%Mar 2, 2023Yield to maturity4.276%Mar 20, 2023Yield to maturity3.881%Apr 5, 2023Yield to maturity3.738%Apr 21, 2023Yield to maturity3.964%May 9, 2023Yield to maturity4.008%May 25, 2023Yield to maturity4.218%Jun 13, 2023Yield to maturity4.158%Jun 30, 2023Yield to maturity4.086%Jul 19, 2023Yield to maturity4.071%Aug 4, 2023Yield to maturity4.414%Aug 22, 2023Yield to maturity4.653%Sep 8, 2023Yield to maturity4.567%Sep 26, 2023Yield to maturity4.931%Oct 13, 2023Yield to maturity5.025%Oct 31, 2023Yield to maturity5.263%Nov 16, 2023Yield to maturity4.874%Dec 5, 2023Yield to maturity4.541%Dec 21, 2023Yield to maturity4.258%Jan 10, 2024Yield to maturity4.400%Jan 29, 2024Yield to maturity4.469%Feb 14, 2024Yield to maturity4.620%Mar 4, 2024Yield to maturity4.533%Mar 20, 2024Yield to maturity4.598%Apr 5, 2024Yield to maturity4.678%Apr 23, 2024Yield to maturity4.879%May 9, 2024Yield to maturity4.739%May 28, 2024Yield to maturity4.793%Jun 13, 2024Yield to maturity4.545%Jul 2, 2024Yield to maturity4.754%Jul 19, 2024Yield to maturity4.601%Aug 6, 2024Yield to maturity4.324%Aug 22, 2024Yield to maturity4.276%Sep 10, 2024Yield to maturity4.084%Sep 26, 2024Yield to maturity4.231%Oct 15, 2024Yield to maturity4.429%Oct 31, 2024Yield to maturity4.622%Nov 19, 2024Yield to maturity4.721%Dec 6, 2024Yield to maturity4.491%Dec 24, 2024Yield to maturity4.904%Jan 13, 2025Yield to maturity5.094%Jan 30, 2025Yield to maturity4.852%Feb 18, 2025Yield to maturity4.871%Mar 6, 2025Yield to maturity4.703%Mar 24, 2025Yield to maturity4.752%Apr 9, 2025Yield to maturity4.848%Apr 25, 2025Yield to maturity4.828%May 13, 2025Yield to maturity5.039%May 30, 2025Yield to maturity5.019%Jun 17, 2025Yield to maturity4.971%Jul 7, 2025Yield to maturity4.990%Jul 23, 2025Yield to maturity5.000%Aug 8, 2025Yield to maturity4.901%Aug 26, 2025Yield to maturity4.937%Sep 12, 2025Yield to maturity4.711%Sep 30, 2025Yield to maturity4.764%Oct 17, 2025Yield to maturity4.626%Nov 4, 2025Yield to maturity4.692%Nov 21, 2025Yield to maturity4.730%Dec 10, 2025Yield to maturity4.815%Dec 29, 2025Yield to maturity4.816%Jan 15, 2026Yield to maturity4.787%Feb 3, 2026Yield to maturity4.904%Feb 20, 2026Yield to maturity4.724%Mar 10, 2026Yield to maturity4.791%Mar 26, 2026Yield to maturity5.021%Apr 13, 2026Yield to maturity4.930%Apr 29, 2026Yield to maturity5.029%May 15, 2026Yield to maturity5.190%Jun 3, 2026Yield to maturity5.040%Jun 22, 2026Yield to maturity5.007%Jul 9, 2026Yield to maturity5.108%Jul 27, 2026Yield to maturity5.198%Aug 12, 2026Yield to maturity5.299%Aug 28, 2026Yield to maturity5.258%Sep 9, 2026Yield to maturity5.322%

Price history

2,768 trading days to Sep 9, 2026

6080100120140Aug 17, 2015Sep 9, 2026Aug 17, 2015Close101.219Sep 2, 2015Close98.219Sep 21, 2015Close97.219Oct 7, 2015Close99.688Oct 26, 2015Close100.188Nov 12, 2015Close95.688Dec 1, 2015Close99.125Dec 17, 2015Close98.656Jan 6, 2016Close98.594Jan 25, 2016Close101.438Feb 10, 2016Close107.000Feb 29, 2016Close105.344Mar 16, 2016Close103.031Apr 4, 2016Close105.625Apr 20, 2016Close104.469May 6, 2016Close105.281May 24, 2016Close104.688Jun 10, 2016Close109.000Jun 28, 2016Close113.000Jul 15, 2016Close112.250Aug 2, 2016Close112.281Aug 18, 2016Close113.250Sep 6, 2016Close113.531Sep 22, 2016Close111.156Oct 11, 2016Close107.875Oct 27, 2016Close105.750Nov 15, 2016Close98.031Dec 2, 2016Close95.875Dec 20, 2016Close94.406Jan 9, 2017Close97.906Jan 26, 2017Close95.781Feb 13, 2017Close96.750Mar 2, 2017Close95.688Mar 20, 2017Close95.750Apr 5, 2017Close97.656Apr 24, 2017Close98.688May 10, 2017Close96.750May 26, 2017Close99.094Jun 14, 2017Close101.625Jun 30, 2017Close100.531Jul 19, 2017Close100.469Aug 4, 2017Close100.656Aug 22, 2017Close101.750Sep 8, 2017Close104.125Sep 26, 2017Close102.000Oct 13, 2017Close101.344Oct 31, 2017Close100.156Nov 16, 2017Close101.250Dec 5, 2017Close102.844Dec 21, 2017Close100.656Jan 10, 2018Close99.875Jan 29, 2018Close98.844Feb 14, 2018Close94.469Mar 5, 2018Close94.813Mar 21, 2018Close95.375Apr 9, 2018Close97.469Apr 25, 2018Close93.938May 11, 2018Close95.844May 30, 2018Close97.531Jun 15, 2018Close96.844Jul 3, 2018Close98.406Jul 20, 2018Close97.094Aug 7, 2018Close95.469Aug 23, 2018Close98.219Sep 11, 2018Close95.406Sep 27, 2018Close94.281Oct 16, 2018Close92.063Nov 1, 2018Close91.000Nov 20, 2018Close92.188Dec 10, 2018Close95.375Dec 27, 2018Close96.813Jan 15, 2019Close96.344Feb 1, 2019Close97.250Feb 20, 2019Close98.000Mar 8, 2019Close97.781Mar 26, 2019Close100.531Apr 11, 2019Close99.219Apr 30, 2019Close99.219May 16, 2019Close100.969Jun 4, 2019Close105.344Jun 20, 2019Close106.844Jul 9, 2019Close106.656Jul 25, 2019Close105.406Aug 12, 2019Close115.313Aug 28, 2019Close119.250Sep 16, 2019Close111.531Oct 2, 2019Close116.000Oct 21, 2019Close111.688Nov 6, 2019Close111.375Nov 25, 2019Close113.031Dec 12, 2019Close110.813Dec 31, 2019Close109.344Jan 17, 2020Close110.875Feb 5, 2020Close114.250Feb 24, 2020Close120.813Mar 11, 2020Close130.875Mar 27, 2020Close134.250Apr 15, 2020Close135.750May 1, 2020Close135.219May 19, 2020Close131.594Jun 5, 2020Close125.313Jun 23, 2020Close129.938Jul 10, 2020Close133.625Jul 28, 2020Close136.719Aug 13, 2020Close131.813Aug 31, 2020Close130.313Sep 17, 2020Close132.094Oct 5, 2020Close128.688Oct 22, 2020Close126.781Nov 9, 2020Close125.406Nov 27, 2020Close128.844Dec 15, 2020Close127.031Jan 4, 2021Close126.938Jan 21, 2021Close121.906Feb 8, 2021Close119.750Feb 25, 2021Close111.125Mar 15, 2021Close110.156Mar 31, 2021Close109.188Apr 16, 2021Close112.375May 4, 2021Close112.094May 20, 2021Close110.438Jun 8, 2021Close112.969Jun 24, 2021Close115.031Jul 13, 2021Close116.375Jul 29, 2021Close118.969Aug 16, 2021Close119.063Sep 1, 2021Close119.063Sep 20, 2021Close120.406Oct 6, 2021Close115.313Oct 25, 2021Close114.844Nov 10, 2021Close117.625Nov 30, 2021Close119.844Dec 16, 2021Close118.188Jan 4, 2022Close114.000Jan 21, 2022Close113.719Feb 8, 2022Close109.750Feb 25, 2022Close108.000Mar 15, 2022Close104.406Mar 31, 2022Close104.563Apr 19, 2022Close94.500May 5, 2022Close91.563May 23, 2022Close92.469Jun 9, 2022Close90.938Jun 28, 2022Close88.844Jul 15, 2022Close91.781Aug 2, 2022Close93.250Aug 18, 2022Close90.813Sep 6, 2022Close85.625Sep 22, 2022Close83.594Oct 11, 2022Close79.906Oct 27, 2022Close78.063Nov 15, 2022Close79.469Dec 2, 2022Close85.031Dec 20, 2022Close83.375Jan 9, 2023Close84.875Jan 26, 2023Close86.063Feb 13, 2023Close83.875Mar 2, 2023Close79.906Mar 20, 2023Close85.031Apr 5, 2023Close87.000Apr 21, 2023Close83.969May 9, 2023Close83.406May 25, 2023Close80.750Jun 13, 2023Close81.531Jun 30, 2023Close82.469Jul 19, 2023Close82.688Aug 4, 2023Close78.469Aug 22, 2023Close75.688Sep 8, 2023Close76.719Sep 26, 2023Close72.656Oct 13, 2023Close71.688Oct 31, 2023Close69.250Nov 16, 2023Close73.375Dec 5, 2023Close77.156Dec 21, 2023Close80.563Jan 10, 2024Close78.875Jan 29, 2024Close78.094Feb 14, 2024Close76.375Mar 4, 2024Close77.406Mar 20, 2024Close76.688Apr 5, 2024Close75.813Apr 23, 2024Close73.625May 9, 2024Close75.188May 28, 2024Close74.625Jun 13, 2024Close77.438Jul 2, 2024Close75.125Jul 19, 2024Close76.875Aug 6, 2024Close80.125Aug 22, 2024Close80.719Sep 10, 2024Close83.094Sep 26, 2024Close81.313Oct 15, 2024Close79.000Oct 31, 2024Close76.813Nov 19, 2024Close75.750Dec 6, 2024Close78.375Dec 24, 2024Close73.844Jan 13, 2025Close71.906Jan 30, 2025Close74.469Feb 18, 2025Close74.313Mar 6, 2025Close76.156Mar 24, 2025Close75.656Apr 9, 2025Close74.656Apr 25, 2025Close74.906May 13, 2025Close72.719May 30, 2025Close72.969Jun 17, 2025Close73.500Jul 7, 2025Close73.344Jul 23, 2025Close73.281Aug 8, 2025Close74.344Aug 26, 2025Close74.000Sep 12, 2025Close76.438Sep 30, 2025Close75.906Oct 17, 2025Close77.438Nov 4, 2025Close76.750Nov 21, 2025Close76.375Dec 10, 2025Close75.500Dec 29, 2025Close75.531Jan 15, 2026Close75.875Feb 3, 2026Close74.688Feb 20, 2026Close76.625Mar 10, 2026Close75.938Mar 26, 2026Close73.594Apr 13, 2026Close74.563Apr 29, 2026Close73.594May 15, 2026Close72.031Jun 3, 2026Close73.563Jun 22, 2026Close73.938Jul 9, 2026Close72.969Jul 27, 2026Close72.125Aug 12, 2026Close71.188Aug 28, 2026Close71.625Sep 9, 2026Close71.031
The most recent 20 trading days of prices for 912810RN0.
DateBidOfferClose
Sep 9, 202670.82870.78171.031
Sep 8, 202671.40671.37571.219
Sep 4, 202671.42271.37571.344
Sep 3, 202671.51671.46971.313
Sep 2, 202671.07871.03171.063
Sep 1, 202671.35971.31371.063
Aug 31, 202671.21971.18871.313
Aug 28, 202671.93871.90671.625
Aug 27, 202672.03172.00071.844
Aug 26, 202672.00071.96971.938
Aug 25, 202672.09472.06372.125
Aug 24, 202671.73471.68871.563
Aug 21, 202671.25071.21971.125
Aug 20, 202671.40671.37571.563
Aug 19, 202671.79771.75071.906
Aug 18, 202670.78170.75070.906
Aug 17, 202670.90670.87570.625
Aug 14, 202671.09471.06371.125
Aug 13, 202671.60971.56371.594
Aug 12, 202671.37571.34471.188

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 912810RN0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 13, 2015Aug 17, 2015New issue$16.0bn$16.3bn2.26x2.880%
Sep 10, 2015Sep 15, 2015Reopening$13.0bn$13.0bn2.54x2.980%
Oct 8, 2015Oct 15, 2015Reopening$13.0bn$13.0bn2.46x2.914%

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.