Treasury bond

912810RS9 · 2.5% due May 15, 2046

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

Statement of August 31, 2026

Amount outstanding
$40.48bn
Held stripped
$4.23bn
Share stripped
10.45%

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
13.953 yr
DV01
0.0928
Convexity
246.537
Dirty price
66.489

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 14.180 years against a modified duration of 13.953.

Against the fitted curve

Priced 0.1 bp cheap to the curve on that day, 0.62 cents per 100 of face.

That is -0.87 standard deviations from its own typical residual.

Yield to maturity, 2,582 observations

1%2%3%4%5%6%May 16, 2016Sep 9, 2026May 16, 2016Yield to maturity2.593%Jun 1, 2016Yield to maturity2.630%Jun 16, 2016Yield to maturity2.387%Jul 1, 2016Yield to maturity2.241%Jul 19, 2016Yield to maturity2.271%Aug 3, 2016Yield to maturity2.291%Aug 18, 2016Yield to maturity2.254%Sep 2, 2016Yield to maturity2.273%Sep 20, 2016Yield to maturity2.427%Oct 5, 2016Yield to maturity2.436%Oct 21, 2016Yield to maturity2.483%Nov 7, 2016Yield to maturity2.599%Nov 23, 2016Yield to maturity3.049%Dec 9, 2016Yield to maturity3.182%Dec 27, 2016Yield to maturity3.166%Jan 12, 2017Yield to maturity2.975%Jan 30, 2017Yield to maturity3.102%Feb 14, 2017Yield to maturity3.088%Mar 2, 2017Yield to maturity3.112%Mar 17, 2017Yield to maturity3.138%Apr 3, 2017Yield to maturity3.005%Apr 19, 2017Yield to maturity2.893%May 4, 2017Yield to maturity3.018%May 19, 2017Yield to maturity2.914%Jun 6, 2017Yield to maturity2.822%Jun 21, 2017Yield to maturity2.742%Jul 7, 2017Yield to maturity2.946%Jul 24, 2017Yield to maturity2.845%Aug 8, 2017Yield to maturity2.877%Aug 23, 2017Yield to maturity2.759%Sep 8, 2017Yield to maturity2.680%Sep 25, 2017Yield to maturity2.763%Oct 11, 2017Yield to maturity2.880%Oct 26, 2017Yield to maturity2.964%Nov 10, 2017Yield to maturity2.886%Nov 28, 2017Yield to maturity2.773%Dec 13, 2017Yield to maturity2.745%Dec 29, 2017Yield to maturity2.745%Jan 17, 2018Yield to maturity2.844%Feb 1, 2018Yield to maturity3.013%Feb 16, 2018Yield to maturity3.137%Mar 6, 2018Yield to maturity3.149%Mar 21, 2018Yield to maturity3.133%Apr 6, 2018Yield to maturity3.021%Apr 23, 2018Yield to maturity3.151%May 8, 2018Yield to maturity3.129%May 23, 2018Yield to maturity3.172%Jun 8, 2018Yield to maturity3.080%Jun 25, 2018Yield to maturity3.027%Jul 11, 2018Yield to maturity2.951%Jul 26, 2018Yield to maturity3.109%Aug 10, 2018Yield to maturity3.034%Aug 27, 2018Yield to maturity2.999%Sep 12, 2018Yield to maturity3.113%Sep 27, 2018Yield to maturity3.195%Oct 15, 2018Yield to maturity3.342%Oct 30, 2018Yield to maturity3.368%Nov 15, 2018Yield to maturity3.365%Dec 3, 2018Yield to maturity3.279%Dec 19, 2018Yield to maturity3.012%Jan 7, 2019Yield to maturity3.003%Jan 23, 2019Yield to maturity3.074%Feb 7, 2019Yield to maturity2.997%Feb 25, 2019Yield to maturity3.036%Mar 12, 2019Yield to maturity2.998%Mar 27, 2019Yield to maturity2.825%Apr 11, 2019Yield to maturity2.933%Apr 29, 2019Yield to maturity2.966%May 14, 2019Yield to maturity2.854%May 30, 2019Yield to maturity2.648%Jun 14, 2019Yield to maturity2.594%Jul 1, 2019Yield to maturity2.556%Jul 17, 2019Yield to maturity2.568%Aug 1, 2019Yield to maturity2.436%Aug 16, 2019Yield to maturity2.006%Sep 3, 2019Yield to maturity1.941%Sep 18, 2019Yield to maturity2.245%Oct 3, 2019Yield to maturity2.036%Oct 21, 2019Yield to maturity2.286%Nov 5, 2019Yield to maturity2.338%Nov 21, 2019Yield to maturity2.245%Dec 9, 2019Yield to maturity2.274%Dec 24, 2019Yield to maturity2.334%Jan 10, 2020Yield to maturity2.287%Jan 28, 2020Yield to maturity2.114%Feb 12, 2020Yield to maturity2.105%Feb 28, 2020Yield to maturity1.670%Mar 16, 2020Yield to maturity1.377%Mar 31, 2020Yield to maturity1.370%Apr 16, 2020Yield to maturity1.182%May 1, 2020Yield to maturity1.260%May 18, 2020Yield to maturity1.414%Jun 3, 2020Yield to maturity1.531%Jun 18, 2020Yield to maturity1.447%Jul 6, 2020Yield to maturity1.422%Jul 21, 2020Yield to maturity1.280%Aug 5, 2020Yield to maturity1.184%Aug 20, 2020Yield to maturity1.345%Sep 4, 2020Yield to maturity1.417%Sep 22, 2020Yield to maturity1.371%Oct 7, 2020Yield to maturity1.539%Oct 23, 2020Yield to maturity1.569%Nov 9, 2020Yield to maturity1.648%Nov 25, 2020Yield to maturity1.547%Dec 11, 2020Yield to maturity1.548%Dec 29, 2020Yield to maturity1.594%Jan 14, 2021Yield to maturity1.806%Feb 1, 2021Yield to maturity1.772%Feb 17, 2021Yield to maturity2.009%Mar 4, 2021Yield to maturity2.268%Mar 19, 2021Yield to maturity2.443%Apr 5, 2021Yield to maturity2.346%Apr 20, 2021Yield to maturity2.243%May 5, 2021Yield to maturity2.227%May 20, 2021Yield to maturity2.331%Jun 7, 2021Yield to maturity2.237%Jun 22, 2021Yield to maturity2.105%Jul 8, 2021Yield to maturity1.910%Jul 23, 2021Yield to maturity1.915%Aug 9, 2021Yield to maturity1.949%Aug 24, 2021Yield to maturity1.887%Sep 9, 2021Yield to maturity1.879%Sep 24, 2021Yield to maturity1.985%Oct 12, 2021Yield to maturity2.103%Oct 27, 2021Yield to maturity1.952%Nov 12, 2021Yield to maturity1.983%Nov 30, 2021Yield to maturity1.838%Dec 15, 2021Yield to maturity1.916%Dec 31, 2021Yield to maturity1.952%Jan 18, 2022Yield to maturity2.247%Feb 2, 2022Yield to maturity2.188%Feb 17, 2022Yield to maturity2.416%Mar 7, 2022Yield to maturity2.324%Mar 22, 2022Yield to maturity2.736%Apr 6, 2022Yield to maturity2.799%Apr 22, 2022Yield to maturity3.142%May 9, 2022Yield to maturity3.432%May 24, 2022Yield to maturity3.233%Jun 9, 2022Yield to maturity3.432%Jun 27, 2022Yield to maturity3.585%Jul 13, 2022Yield to maturity3.366%Jul 28, 2022Yield to maturity3.298%Aug 12, 2022Yield to maturity3.422%Aug 29, 2022Yield to maturity3.582%Sep 14, 2022Yield to maturity3.792%Sep 29, 2022Yield to maturity4.041%Oct 17, 2022Yield to maturity4.351%Nov 1, 2022Yield to maturity4.430%Nov 17, 2022Yield to maturity4.199%Dec 5, 2022Yield to maturity3.907%Dec 20, 2022Yield to maturity3.985%Jan 6, 2023Yield to maturity3.891%Jan 24, 2023Yield to maturity3.780%Feb 8, 2023Yield to maturity3.883%Feb 24, 2023Yield to maturity4.142%Mar 13, 2023Yield to maturity3.868%Mar 28, 2023Yield to maturity3.951%Apr 12, 2023Yield to maturity3.810%Apr 27, 2023Yield to maturity3.933%May 12, 2023Yield to maturity3.931%May 30, 2023Yield to maturity4.100%Jun 14, 2023Yield to maturity4.097%Jun 30, 2023Yield to maturity4.065%Jul 18, 2023Yield to maturity4.114%Aug 2, 2023Yield to maturity4.378%Aug 17, 2023Yield to maturity4.618%Sep 1, 2023Yield to maturity4.513%Sep 19, 2023Yield to maturity4.652%Oct 4, 2023Yield to maturity5.106%Oct 20, 2023Yield to maturity5.341%Nov 6, 2023Yield to maturity5.064%Nov 21, 2023Yield to maturity4.825%Dec 7, 2023Yield to maturity4.480%Dec 22, 2023Yield to maturity4.274%Jan 10, 2024Yield to maturity4.410%Jan 26, 2024Yield to maturity4.555%Feb 12, 2024Yield to maturity4.536%Feb 28, 2024Yield to maturity4.586%Mar 14, 2024Yield to maturity4.600%Mar 29, 2024Yield to maturity4.503%Apr 15, 2024Yield to maturity4.885%Apr 30, 2024Yield to maturity4.933%May 15, 2024Yield to maturity4.652%May 31, 2024Yield to maturity4.777%Jun 17, 2024Yield to maturity4.568%Jul 3, 2024Yield to maturity4.681%Jul 19, 2024Yield to maturity4.605%Aug 5, 2024Yield to maturity4.223%Aug 20, 2024Yield to maturity4.249%Sep 5, 2024Yield to maturity4.170%Sep 20, 2024Yield to maturity4.180%Oct 7, 2024Yield to maturity4.452%Oct 23, 2024Yield to maturity4.657%Nov 7, 2024Yield to maturity4.686%Nov 25, 2024Yield to maturity4.627%Dec 11, 2024Yield to maturity4.633%Dec 27, 2024Yield to maturity4.968%Jan 14, 2025Yield to maturity5.118%Jan 30, 2025Yield to maturity4.875%Feb 14, 2025Yield to maturity4.813%Mar 4, 2025Yield to maturity4.652%Mar 19, 2025Yield to maturity4.679%Apr 3, 2025Yield to maturity4.601%Apr 18, 2025Yield to maturity4.933%May 5, 2025Yield to maturity4.940%May 20, 2025Yield to maturity5.080%Jun 5, 2025Yield to maturity5.002%Jun 23, 2025Yield to maturity4.969%Jul 9, 2025Yield to maturity4.955%Jul 24, 2025Yield to maturity5.036%Aug 8, 2025Yield to maturity4.922%Aug 25, 2025Yield to maturity4.953%Sep 10, 2025Yield to maturity4.733%Sep 25, 2025Yield to maturity4.811%Oct 10, 2025Yield to maturity4.675%Oct 28, 2025Yield to maturity4.594%Nov 13, 2025Yield to maturity4.753%Dec 1, 2025Yield to maturity4.793%Dec 16, 2025Yield to maturity4.860%Jan 2, 2026Yield to maturity4.902%Jan 20, 2026Yield to maturity4.955%Feb 4, 2026Yield to maturity4.943%Feb 20, 2026Yield to maturity4.746%Mar 9, 2026Yield to maturity4.780%Mar 24, 2026Yield to maturity5.043%Apr 8, 2026Yield to maturity4.946%Apr 23, 2026Yield to maturity4.985%May 8, 2026Yield to maturity5.008%May 26, 2026Yield to maturity5.101%Jun 10, 2026Yield to maturity5.112%Jun 26, 2026Yield to maturity4.932%Jul 14, 2026Yield to maturity5.159%Jul 29, 2026Yield to maturity5.282%Aug 13, 2026Yield to maturity5.276%Aug 28, 2026Yield to maturity5.274%Sep 9, 2026Yield to maturity5.338%

Price history

2,582 trading days to Sep 9, 2026

6080100120140May 16, 2016Sep 9, 2026May 16, 2016Close98.063Jun 1, 2016Close97.313Jun 16, 2016Close102.406Jul 1, 2016Close105.625Jul 19, 2016Close104.938Aug 3, 2016Close104.500Aug 18, 2016Close105.313Sep 2, 2016Close104.875Sep 20, 2016Close101.531Oct 5, 2016Close101.344Oct 21, 2016Close100.344Nov 7, 2016Close97.969Nov 23, 2016Close89.375Dec 9, 2016Close87.031Dec 27, 2016Close87.313Jan 12, 2017Close90.750Jan 30, 2017Close88.469Feb 14, 2017Close88.719Mar 2, 2017Close88.313Mar 17, 2017Close87.875Apr 3, 2017Close90.250Apr 19, 2017Close92.313May 4, 2017Close90.031May 19, 2017Close91.938Jun 6, 2017Close93.656Jun 21, 2017Close95.188Jul 7, 2017Close91.375Jul 24, 2017Close93.250Aug 8, 2017Close92.656Aug 23, 2017Close94.875Sep 8, 2017Close96.406Sep 25, 2017Close94.813Oct 11, 2017Close92.625Oct 26, 2017Close91.094Nov 10, 2017Close92.531Nov 28, 2017Close94.656Dec 13, 2017Close95.188Dec 29, 2017Close95.188Jan 17, 2018Close93.344Feb 1, 2018Close90.281Feb 16, 2018Close88.125Mar 6, 2018Close87.938Mar 21, 2018Close88.219Apr 6, 2018Close90.188Apr 23, 2018Close87.938May 8, 2018Close88.313May 23, 2018Close87.594Jun 8, 2018Close89.188Jun 25, 2018Close90.125Jul 11, 2018Close91.469Jul 26, 2018Close88.719Aug 10, 2018Close90.031Aug 27, 2018Close90.656Sep 12, 2018Close88.688Sep 27, 2018Close87.313Oct 15, 2018Close84.906Oct 30, 2018Close84.500Nov 15, 2018Close84.563Dec 3, 2018Close85.969Dec 19, 2018Close90.500Jan 7, 2019Close90.656Jan 23, 2019Close89.438Feb 7, 2019Close90.781Feb 25, 2019Close90.125Mar 12, 2019Close90.781Mar 27, 2019Close93.875Apr 11, 2019Close91.938Apr 29, 2019Close91.375May 14, 2019Close93.375May 30, 2019Close97.156Jun 14, 2019Close98.188Jul 1, 2019Close98.906Jul 17, 2019Close98.688Aug 1, 2019Close101.250Aug 16, 2019Close110.188Sep 3, 2019Close111.594Sep 18, 2019Close105.094Oct 3, 2019Close109.500Oct 21, 2019Close104.250Nov 5, 2019Close103.188Nov 21, 2019Close105.063Dec 9, 2019Close104.469Dec 24, 2019Close103.250Jan 10, 2020Close104.188Jan 28, 2020Close107.750Feb 12, 2020Close107.938Feb 28, 2020Close117.563Mar 16, 2020Close124.594Mar 31, 2020Close124.750Apr 16, 2020Close129.500May 1, 2020Close127.438May 18, 2020Close123.563Jun 3, 2020Close120.688Jun 18, 2020Close122.688Jul 6, 2020Close123.250Jul 21, 2020Close126.750Aug 5, 2020Close129.156Aug 20, 2020Close125.063Sep 4, 2020Close123.250Sep 22, 2020Close124.344Oct 7, 2020Close120.281Oct 23, 2020Close119.531Nov 9, 2020Close117.688Nov 25, 2020Close120.000Dec 11, 2020Close119.938Dec 29, 2020Close118.844Jan 14, 2021Close114.063Feb 1, 2021Close114.781Feb 17, 2021Close109.688Mar 4, 2021Close104.438Mar 19, 2021Close101.063Apr 5, 2021Close102.906Apr 20, 2021Close104.906May 5, 2021Close105.219May 20, 2021Close103.188Jun 7, 2021Close105.000Jun 22, 2021Close107.625Jul 8, 2021Close111.625Jul 23, 2021Close111.500Aug 9, 2021Close110.781Aug 24, 2021Close112.063Sep 9, 2021Close112.219Sep 24, 2021Close110.000Oct 12, 2021Close107.594Oct 27, 2021Close110.656Nov 12, 2021Close110.000Nov 30, 2021Close113.000Dec 15, 2021Close111.344Dec 31, 2021Close110.594Jan 18, 2022Close104.719Feb 2, 2022Close105.844Feb 17, 2022Close101.531Mar 7, 2022Close103.250Mar 22, 2022Close95.844Apr 6, 2022Close94.781Apr 22, 2022Close89.219May 9, 2022Close84.844May 24, 2022Close87.844Jun 9, 2022Close84.875Jun 27, 2022Close82.688Jul 13, 2022Close85.875Jul 28, 2022Close86.906Aug 12, 2022Close85.094Aug 29, 2022Close82.813Sep 14, 2022Close79.938Sep 29, 2022Close76.688Oct 17, 2022Close72.875Nov 1, 2022Close71.969Nov 17, 2022Close74.781Dec 5, 2022Close78.531Dec 20, 2022Close77.531Jan 6, 2023Close78.781Jan 24, 2023Close80.281Feb 8, 2023Close78.938Feb 24, 2023Close75.656Mar 13, 2023Close79.188Mar 28, 2023Close78.125Apr 12, 2023Close80.000Apr 27, 2023Close78.406May 12, 2023Close78.469May 30, 2023Close76.344Jun 14, 2023Close76.406Jun 30, 2023Close76.844Jul 18, 2023Close76.250Aug 2, 2023Close73.094Aug 17, 2023Close70.375Sep 1, 2023Close71.594Sep 19, 2023Close70.063Oct 4, 2023Close65.281Oct 20, 2023Close63.000Nov 6, 2023Close65.781Nov 21, 2023Close68.313Dec 7, 2023Close72.156Dec 22, 2023Close74.594Jan 10, 2024Close73.031Jan 26, 2024Close71.406Feb 12, 2024Close71.656Feb 28, 2024Close71.125Mar 14, 2024Close71.000Mar 29, 2024Close72.125Apr 15, 2024Close68.000Apr 30, 2024Close67.531May 15, 2024Close70.563May 31, 2024Close69.250Jun 17, 2024Close71.563Jul 3, 2024Close70.344Jul 19, 2024Close71.219Aug 5, 2024Close75.625Aug 20, 2024Close75.344Sep 5, 2024Close76.313Sep 20, 2024Close76.219Oct 7, 2024Close73.094Oct 23, 2024Close70.844Nov 7, 2024Close70.563Nov 25, 2024Close71.250Dec 11, 2024Close71.219Dec 27, 2024Close67.719Jan 14, 2025Close66.250Jan 30, 2025Close68.750Feb 14, 2025Close69.438Mar 4, 2025Close71.188Mar 19, 2025Close70.938Apr 3, 2025Close71.813Apr 18, 2025Close68.344May 5, 2025Close68.313May 20, 2025Close66.938Jun 5, 2025Close67.750Jun 23, 2025Close68.125Jul 9, 2025Close68.313Jul 24, 2025Close67.531Aug 8, 2025Close68.719Aug 25, 2025Close68.438Sep 10, 2025Close70.750Sep 25, 2025Close69.969Oct 10, 2025Close71.438Oct 28, 2025Close72.344Nov 13, 2025Close70.688Dec 1, 2025Close70.313Dec 16, 2025Close69.656Jan 2, 2026Close69.281Jan 20, 2026Close68.781Feb 4, 2026Close68.938Feb 20, 2026Close71.000Mar 9, 2026Close70.688Mar 24, 2026Close68.063Apr 8, 2026Close69.063Apr 23, 2026Close68.719May 8, 2026Close68.531May 26, 2026Close67.656Jun 10, 2026Close67.594Jun 26, 2026Close69.406Jul 14, 2026Close67.219Jul 29, 2026Close66.094Aug 13, 2026Close66.188Aug 28, 2026Close66.250Sep 9, 2026Close65.688
The most recent 20 trading days of prices for 912810RS9.
DateBidOfferClose
Sep 9, 202665.50065.43865.688
Sep 8, 202666.03166.00065.875
Sep 4, 202666.04766.00065.969
Sep 3, 202666.14166.09465.938
Sep 2, 202665.71965.68865.719
Sep 1, 202666.00065.96965.719
Aug 31, 202665.87565.84465.969
Aug 28, 202666.56366.53166.250
Aug 27, 202666.62566.59466.469
Aug 26, 202666.60966.59466.563
Aug 25, 202666.70366.65666.719
Aug 24, 202666.32866.28166.156
Aug 21, 202665.84465.81365.750
Aug 20, 202666.00065.96966.156
Aug 19, 202666.32866.28166.469
Aug 18, 202665.37565.34465.500
Aug 17, 202665.48465.43865.250
Aug 14, 202665.68865.65665.688
Aug 13, 202666.18866.12566.188
Aug 12, 202665.95365.90665.781

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 912810RS9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 12, 2016May 16, 2016New issue$15.0bn$18.4bn2.19x2.615%
Jun 9, 2016Jun 15, 2016Reopening$12.0bn$12.0bn2.42x2.475%
Jul 13, 2016Jul 15, 2016Reopening$12.0bn$12.8bn2.48x2.172%

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.