Treasury bond

912810RQ3 · 2.5% due February 15, 2046

Original term
30-Year
Maturity
Feb 15, 2046
Coupon
2.500%
Pays
Semi-Annual
Dated
Feb 15, 2016
First coupon
Aug 15, 2016
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$37.66bn
Held stripped
$4.66bn
Share stripped
12.36%

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
5.338%
Modified duration
13.971 yr
DV01
0.0924
Convexity
244.229
Dirty price
66.114

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 14.208 years against a modified duration of 13.971.

Against the fitted curve

Priced 0.5 bp cheap to the curve on that day, 4.50 cents per 100 of face.

That is -0.70 standard deviations from its own typical residual.

Yield to maturity, 2,645 observations

1%2%3%4%5%6%Feb 16, 2016Sep 9, 2026Feb 16, 2016Yield to maturity2.644%Mar 3, 2016Yield to maturity2.653%Mar 21, 2016Yield to maturity2.724%Apr 7, 2016Yield to maturity2.519%Apr 25, 2016Yield to maturity2.723%May 11, 2016Yield to maturity2.580%May 27, 2016Yield to maturity2.656%Jun 15, 2016Yield to maturity2.432%Jul 1, 2016Yield to maturity2.243%Jul 20, 2016Yield to maturity2.307%Aug 5, 2016Yield to maturity2.321%Aug 23, 2016Yield to maturity2.237%Sep 9, 2016Yield to maturity2.397%Sep 27, 2016Yield to maturity2.286%Oct 14, 2016Yield to maturity2.556%Nov 1, 2016Yield to maturity2.578%Nov 18, 2016Yield to maturity3.041%Dec 7, 2016Yield to maturity3.045%Dec 23, 2016Yield to maturity3.143%Jan 12, 2017Yield to maturity2.976%Jan 31, 2017Yield to maturity3.076%Feb 16, 2017Yield to maturity3.074%Mar 7, 2017Yield to maturity3.137%Mar 23, 2017Yield to maturity3.046%Apr 10, 2017Yield to maturity3.010%Apr 27, 2017Yield to maturity2.982%May 15, 2017Yield to maturity3.026%Jun 1, 2017Yield to maturity2.886%Jun 19, 2017Yield to maturity2.801%Jul 6, 2017Yield to maturity2.916%Jul 24, 2017Yield to maturity2.842%Aug 9, 2017Yield to maturity2.829%Aug 25, 2017Yield to maturity2.761%Sep 13, 2017Yield to maturity2.794%Sep 29, 2017Yield to maturity2.865%Oct 18, 2017Yield to maturity2.854%Nov 3, 2017Yield to maturity2.817%Nov 21, 2017Yield to maturity2.766%Dec 8, 2017Yield to maturity2.773%Dec 27, 2017Yield to maturity2.757%Jan 16, 2018Yield to maturity2.836%Feb 1, 2018Yield to maturity3.011%Feb 20, 2018Yield to maturity3.156%Mar 8, 2018Yield to maturity3.140%Mar 26, 2018Yield to maturity3.088%Apr 12, 2018Yield to maturity3.045%Apr 30, 2018Yield to maturity3.115%May 16, 2018Yield to maturity3.217%Jun 4, 2018Yield to maturity3.083%Jun 20, 2018Yield to maturity3.064%Jul 9, 2018Yield to maturity2.970%Jul 25, 2018Yield to maturity3.069%Aug 10, 2018Yield to maturity3.034%Aug 28, 2018Yield to maturity3.034%Sep 14, 2018Yield to maturity3.135%Oct 2, 2018Yield to maturity3.207%Oct 19, 2018Yield to maturity3.386%Nov 6, 2018Yield to maturity3.441%Nov 26, 2018Yield to maturity3.328%Dec 13, 2018Yield to maturity3.171%Jan 2, 2019Yield to maturity2.981%Jan 18, 2019Yield to maturity3.102%Feb 6, 2019Yield to maturity3.035%Feb 25, 2019Yield to maturity3.035%Mar 13, 2019Yield to maturity3.011%Mar 29, 2019Yield to maturity2.806%Apr 16, 2019Yield to maturity2.990%May 3, 2019Yield to maturity2.924%May 21, 2019Yield to maturity2.842%Jun 7, 2019Yield to maturity2.571%Jun 25, 2019Yield to maturity2.531%Jul 12, 2019Yield to maturity2.636%Jul 30, 2019Yield to maturity2.577%Aug 15, 2019Yield to maturity1.974%Sep 3, 2019Yield to maturity1.942%Sep 19, 2019Yield to maturity2.216%Oct 7, 2019Yield to maturity2.038%Oct 24, 2019Yield to maturity2.258%Nov 12, 2019Yield to maturity2.397%Nov 29, 2019Yield to maturity2.208%Dec 17, 2019Yield to maturity2.319%Jan 6, 2020Yield to maturity2.283%Jan 23, 2020Yield to maturity2.189%Feb 10, 2020Yield to maturity2.041%Feb 27, 2020Yield to maturity1.810%Mar 16, 2020Yield to maturity1.376%Apr 1, 2020Yield to maturity1.269%Apr 20, 2020Yield to maturity1.226%May 6, 2020Yield to maturity1.407%May 22, 2020Yield to maturity1.342%Jun 10, 2020Yield to maturity1.505%Jun 26, 2020Yield to maturity1.350%Jul 15, 2020Yield to maturity1.311%Jul 31, 2020Yield to maturity1.168%Aug 18, 2020Yield to maturity1.362%Sep 3, 2020Yield to maturity1.295%Sep 22, 2020Yield to maturity1.367%Oct 8, 2020Yield to maturity1.498%Oct 27, 2020Yield to maturity1.487%Nov 13, 2020Yield to maturity1.552%Dec 2, 2020Yield to maturity1.624%Dec 18, 2020Yield to maturity1.611%Jan 7, 2021Yield to maturity1.763%Jan 26, 2021Yield to maturity1.720%Feb 11, 2021Yield to maturity1.875%Mar 2, 2021Yield to maturity2.182%Mar 18, 2021Yield to maturity2.436%Apr 5, 2021Yield to maturity2.347%Apr 21, 2021Yield to maturity2.233%May 7, 2021Yield to maturity2.257%May 25, 2021Yield to maturity2.247%Jun 11, 2021Yield to maturity2.140%Jun 29, 2021Yield to maturity2.099%Jul 16, 2021Yield to maturity1.922%Aug 3, 2021Yield to maturity1.835%Aug 19, 2021Yield to maturity1.853%Sep 7, 2021Yield to maturity1.966%Sep 23, 2021Yield to maturity1.914%Oct 12, 2021Yield to maturity2.101%Oct 28, 2021Yield to maturity1.975%Nov 16, 2021Yield to maturity2.055%Dec 3, 2021Yield to maturity1.750%Dec 21, 2021Yield to maturity1.933%Jan 7, 2022Yield to maturity2.166%Jan 26, 2022Yield to maturity2.230%Feb 11, 2022Yield to maturity2.344%Mar 2, 2022Yield to maturity2.378%Mar 18, 2022Yield to maturity2.561%Apr 5, 2022Yield to maturity2.738%Apr 22, 2022Yield to maturity3.147%May 10, 2022Yield to maturity3.356%May 26, 2022Yield to maturity3.238%Jun 14, 2022Yield to maturity3.736%Jul 1, 2022Yield to maturity3.394%Jul 20, 2022Yield to maturity3.466%Aug 5, 2022Yield to maturity3.354%Aug 23, 2022Yield to maturity3.585%Sep 9, 2022Yield to maturity3.794%Sep 27, 2022Yield to maturity4.194%Oct 14, 2022Yield to maturity4.315%Nov 1, 2022Yield to maturity4.434%Nov 18, 2022Yield to maturity4.240%Dec 7, 2022Yield to maturity3.701%Dec 23, 2022Yield to maturity4.056%Jan 12, 2023Yield to maturity3.770%Jan 31, 2023Yield to maturity3.819%Feb 16, 2023Yield to maturity4.106%Mar 7, 2023Yield to maturity4.121%Mar 23, 2023Yield to maturity3.844%Apr 10, 2023Yield to maturity3.806%Apr 26, 2023Yield to maturity3.865%May 12, 2023Yield to maturity3.934%May 31, 2023Yield to maturity4.047%Jun 16, 2023Yield to maturity4.068%Jul 6, 2023Yield to maturity4.243%Jul 24, 2023Yield to maturity4.148%Aug 9, 2023Yield to maturity4.378%Aug 25, 2023Yield to maturity4.542%Sep 13, 2023Yield to maturity4.561%Sep 29, 2023Yield to maturity4.976%Oct 18, 2023Yield to maturity5.256%Nov 3, 2023Yield to maturity4.986%Nov 21, 2023Yield to maturity4.823%Dec 8, 2023Yield to maturity4.549%Dec 27, 2023Yield to maturity4.163%Jan 16, 2024Yield to maturity4.498%Feb 1, 2024Yield to maturity4.271%Feb 20, 2024Yield to maturity4.616%Mar 7, 2024Yield to maturity4.411%Mar 25, 2024Yield to maturity4.574%Apr 10, 2024Yield to maturity4.787%Apr 26, 2024Yield to maturity4.934%May 14, 2024Yield to maturity4.733%May 31, 2024Yield to maturity4.777%Jun 18, 2024Yield to maturity4.520%Jul 8, 2024Yield to maturity4.617%Jul 24, 2024Yield to maturity4.675%Aug 9, 2024Yield to maturity4.384%Aug 27, 2024Yield to maturity4.276%Sep 13, 2024Yield to maturity4.113%Oct 1, 2024Yield to maturity4.207%Oct 18, 2024Yield to maturity4.512%Nov 5, 2024Yield to maturity4.606%Nov 22, 2024Yield to maturity4.761%Dec 11, 2024Yield to maturity4.631%Dec 30, 2024Yield to maturity4.913%Jan 16, 2025Yield to maturity4.969%Feb 4, 2025Yield to maturity4.858%Feb 21, 2025Yield to maturity4.775%Mar 11, 2025Yield to maturity4.722%Mar 27, 2025Yield to maturity4.830%Apr 14, 2025Yield to maturity4.934%Apr 30, 2025Yield to maturity4.774%May 16, 2025Yield to maturity5.010%Jun 4, 2025Yield to maturity4.999%Jun 23, 2025Yield to maturity4.966%Jul 10, 2025Yield to maturity4.946%Jul 28, 2025Yield to maturity5.041%Aug 13, 2025Yield to maturity4.889%Aug 29, 2025Yield to maturity4.965%Sep 17, 2025Yield to maturity4.710%Oct 3, 2025Yield to maturity4.759%Oct 22, 2025Yield to maturity4.585%Nov 7, 2025Yield to maturity4.740%Nov 26, 2025Yield to maturity4.684%Dec 15, 2025Yield to maturity4.891%Jan 2, 2026Yield to maturity4.899%Jan 21, 2026Yield to maturity4.909%Feb 6, 2026Yield to maturity4.870%Feb 25, 2026Yield to maturity4.713%Mar 13, 2026Yield to maturity4.972%Mar 31, 2026Yield to maturity4.948%Apr 16, 2026Yield to maturity4.977%May 4, 2026Yield to maturity5.087%May 20, 2026Yield to maturity5.182%Jun 8, 2026Yield to maturity5.113%Jun 25, 2026Yield to maturity4.929%Jul 14, 2026Yield to maturity5.155%Jul 30, 2026Yield to maturity5.285%Aug 17, 2026Yield to maturity5.375%Sep 2, 2026Yield to maturity5.332%Sep 9, 2026Yield to maturity5.338%

Price history

2,645 trading days to Sep 9, 2026

6080100120140Feb 16, 2016Sep 9, 2026Feb 16, 2016Close97.031Mar 3, 2016Close96.844Mar 21, 2016Close95.438Apr 7, 2016Close99.594Apr 25, 2016Close95.469May 11, 2016Close98.344May 27, 2016Close96.813Jun 15, 2016Close101.438Jul 1, 2016Close105.531Jul 20, 2016Close104.125Aug 5, 2016Close103.813Aug 23, 2016Close105.656Sep 9, 2016Close102.156Sep 27, 2016Close104.563Oct 14, 2016Close98.844Nov 1, 2016Close98.406Nov 18, 2016Close89.563Dec 7, 2016Close89.500Dec 23, 2016Close87.781Jan 12, 2017Close90.781Jan 31, 2017Close89.000Feb 16, 2017Close89.031Mar 7, 2017Close87.938Mar 23, 2017Close89.563Apr 10, 2017Close90.219Apr 27, 2017Close90.719May 15, 2017Close89.938Jun 1, 2017Close92.500Jun 19, 2017Close94.094Jul 6, 2017Close91.969Jul 24, 2017Close93.344Aug 9, 2017Close93.594Aug 25, 2017Close94.875Sep 13, 2017Close94.250Sep 29, 2017Close92.938Oct 18, 2017Close93.156Nov 3, 2017Close93.844Nov 21, 2017Close94.813Dec 8, 2017Close94.688Dec 27, 2017Close95.000Jan 16, 2018Close93.531Feb 1, 2018Close90.375Feb 20, 2018Close87.875Mar 8, 2018Close88.156Mar 26, 2018Close89.063Apr 12, 2018Close89.813Apr 30, 2018Close88.625May 16, 2018Close86.906Jun 4, 2018Close89.188Jun 20, 2018Close89.531Jul 9, 2018Close91.188Jul 25, 2018Close89.469Aug 10, 2018Close90.094Aug 28, 2018Close90.094Sep 14, 2018Close88.375Oct 2, 2018Close87.188Oct 19, 2018Close84.281Nov 6, 2018Close83.438Nov 26, 2018Close85.250Dec 13, 2018Close87.844Jan 2, 2019Close91.094Jan 18, 2019Close89.031Feb 6, 2019Close90.188Feb 25, 2019Close90.188Mar 13, 2019Close90.625Mar 29, 2019Close94.250Apr 16, 2019Close91.000May 3, 2019Close92.156May 21, 2019Close93.625Jun 7, 2019Close98.625Jun 25, 2019Close99.406Jul 12, 2019Close97.406Jul 30, 2019Close98.531Aug 15, 2019Close110.813Sep 3, 2019Close111.500Sep 19, 2019Close105.656Oct 7, 2019Close109.375Oct 24, 2019Close104.781Nov 12, 2019Close102.000Nov 29, 2019Close105.781Dec 17, 2019Close103.531Jan 6, 2020Close104.250Jan 23, 2020Close106.156Feb 10, 2020Close109.219Feb 27, 2020Close114.250Mar 16, 2020Close124.438Apr 1, 2020Close127.063Apr 20, 2020Close128.125May 6, 2020Close123.563May 22, 2020Close125.125Jun 10, 2020Close121.125Jun 26, 2020Close124.844Jul 15, 2020Close125.781Jul 31, 2020Close129.344Aug 18, 2020Close124.438Sep 3, 2020Close126.063Sep 22, 2020Close124.250Oct 8, 2020Close121.063Oct 27, 2020Close121.281Nov 13, 2020Close119.750Dec 2, 2020Close118.063Dec 18, 2020Close118.313Jan 7, 2021Close114.906Jan 26, 2021Close115.813Feb 11, 2021Close112.438Mar 2, 2021Close106.094Mar 18, 2021Close101.188Apr 5, 2021Close102.875Apr 21, 2021Close105.063May 7, 2021Close104.594May 25, 2021Close104.781Jun 11, 2021Close106.875Jun 29, 2021Close107.688Jul 16, 2021Close111.281Aug 3, 2021Close113.094Aug 19, 2021Close112.688Sep 7, 2021Close110.313Sep 23, 2021Close111.375Oct 12, 2021Close107.563Oct 28, 2021Close110.094Nov 16, 2021Close108.469Dec 3, 2021Close114.750Dec 21, 2021Close110.906Jan 7, 2022Close106.250Jan 26, 2022Close105.000Feb 11, 2022Close102.844Mar 2, 2022Close102.219Mar 18, 2022Close98.906Apr 5, 2022Close95.844Apr 22, 2022Close89.219May 10, 2022Close86.063May 26, 2022Close87.844Jun 14, 2022Close80.688Jul 1, 2022Close85.563Jul 20, 2022Close84.531Aug 5, 2022Close86.188Aug 23, 2022Close82.875Sep 9, 2022Close80.031Sep 27, 2022Close74.906Oct 14, 2022Close73.469Nov 1, 2022Close72.094Nov 18, 2022Close74.438Dec 7, 2022Close81.406Dec 23, 2022Close76.781Jan 12, 2023Close80.531Jan 31, 2023Close79.906Feb 16, 2023Close76.250Mar 7, 2023Close76.094Mar 23, 2023Close79.656Apr 10, 2023Close80.188Apr 26, 2023Close79.438May 12, 2023Close78.563May 31, 2023Close77.156Jun 16, 2023Close76.938Jul 6, 2023Close74.813Jul 24, 2023Close76.000Aug 9, 2023Close73.281Aug 25, 2023Close71.438Sep 13, 2023Close71.250Sep 29, 2023Close66.813Oct 18, 2023Close64.031Nov 3, 2023Close66.781Nov 21, 2023Close68.531Dec 8, 2023Close71.563Dec 27, 2023Close76.094Jan 16, 2024Close72.219Feb 1, 2024Close74.875Feb 20, 2024Close70.969Mar 7, 2024Close73.313Mar 25, 2024Close71.500Apr 10, 2024Close69.219Apr 26, 2024Close67.719May 14, 2024Close69.875May 31, 2024Close69.438Jun 18, 2024Close72.281Jul 8, 2024Close71.250Jul 24, 2024Close70.656Aug 9, 2024Close73.938Aug 27, 2024Close75.219Sep 13, 2024Close77.188Oct 1, 2024Close76.094Oct 18, 2024Close72.625Nov 5, 2024Close71.625Nov 22, 2024Close70.000Dec 11, 2024Close71.438Dec 30, 2024Close68.500Jan 16, 2025Close67.969Feb 4, 2025Close69.156Feb 21, 2025Close70.063Mar 11, 2025Close70.656Mar 27, 2025Close69.563Apr 14, 2025Close68.531Apr 30, 2025Close70.219May 16, 2025Close67.844Jun 4, 2025Close68.000Jun 23, 2025Close68.375Jul 10, 2025Close68.625Jul 28, 2025Close67.719Aug 13, 2025Close69.281Aug 29, 2025Close68.563Sep 17, 2025Close71.219Oct 3, 2025Close70.750Oct 22, 2025Close72.625Nov 7, 2025Close71.031Nov 26, 2025Close71.656Dec 15, 2025Close69.563Jan 2, 2026Close69.531Jan 21, 2026Close69.469Feb 6, 2026Close69.906Feb 25, 2026Close71.563Mar 13, 2026Close68.969Mar 31, 2026Close69.250Apr 16, 2026Close69.000May 4, 2026Close67.969May 20, 2026Close67.094Jun 8, 2026Close67.813Jun 25, 2026Close69.656Jul 14, 2026Close67.500Jul 30, 2026Close66.313Aug 17, 2026Close65.531Sep 2, 2026Close65.969Sep 9, 2026Close65.938
The most recent 20 trading days of prices for 912810RQ3.
DateBidOfferClose
Sep 9, 202665.76665.71965.938
Sep 8, 202666.29766.25066.125
Sep 4, 202666.31366.28166.250
Sep 3, 202666.40666.37566.219
Sep 2, 202665.98465.93865.969
Sep 1, 202666.25066.21965.969
Aug 31, 202666.12566.09466.219
Aug 28, 202666.82866.78166.500
Aug 27, 202666.89166.84466.719
Aug 26, 202666.87566.84466.813
Aug 25, 202666.96966.93866.969
Aug 24, 202666.59466.56366.438
Aug 21, 202666.14166.09466.031
Aug 20, 202666.28166.25066.406
Aug 19, 202666.62566.59466.750
Aug 18, 202665.68865.65665.781
Aug 17, 202665.78165.75065.531
Aug 14, 202665.95365.90666.000
Aug 13, 202666.43866.37566.438
Aug 12, 202666.21966.18866.063

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 912810RQ3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 11, 2016Feb 16, 2016New issue$15.0bn$16.2bn2.09x2.500%
Mar 10, 2016Mar 15, 2016Reopening$12.0bn$12.0bn2.33x2.720%
Apr 14, 2016Apr 15, 2016Reopening$12.0bn$12.1bn2.40x2.596%

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.