Treasury bond

912810RU4 · 2.875% due November 15, 2046

Original term
30-Year
Maturity
Nov 15, 2046
Coupon
2.875%
Pays
Semi-Annual
Dated
Nov 15, 2016
First coupon
May 15, 2017
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$40.06bn
Held stripped
$2.45bn
Share stripped
6.12%

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
5.339%
Modified duration
13.770 yr
DV01
0.0974
Convexity
245.425
Dirty price
70.703

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 11 of twelve buckets, summing to 13.978 years against a modified duration of 13.770.

Against the fitted curve

Priced 0.3 bp cheap to the curve on that day, 2.80 cents per 100 of face.

That is -0.48 standard deviations from its own typical residual.

Yield to maturity, 2,456 observations

1%2%3%4%5%6%Nov 15, 2016Sep 9, 2026Nov 15, 2016Yield to maturity2.965%Dec 1, 2016Yield to maturity3.100%Dec 16, 2016Yield to maturity3.189%Jan 4, 2017Yield to maturity3.049%Jan 20, 2017Yield to maturity3.053%Feb 6, 2017Yield to maturity3.051%Feb 22, 2017Yield to maturity3.045%Mar 9, 2017Yield to maturity3.187%Mar 24, 2017Yield to maturity3.009%Apr 10, 2017Yield to maturity2.997%Apr 26, 2017Yield to maturity2.980%May 11, 2017Yield to maturity3.036%May 26, 2017Yield to maturity2.924%Jun 13, 2017Yield to maturity2.872%Jun 28, 2017Yield to maturity2.781%Jul 14, 2017Yield to maturity2.918%Jul 31, 2017Yield to maturity2.899%Aug 15, 2017Yield to maturity2.842%Aug 30, 2017Yield to maturity2.748%Sep 15, 2017Yield to maturity2.770%Oct 2, 2017Yield to maturity2.872%Oct 18, 2017Yield to maturity2.850%Nov 2, 2017Yield to maturity2.829%Nov 17, 2017Yield to maturity2.782%Dec 5, 2017Yield to maturity2.735%Dec 20, 2017Yield to maturity2.883%Jan 8, 2018Yield to maturity2.818%Jan 24, 2018Yield to maturity2.930%Feb 8, 2018Yield to maturity3.138%Feb 26, 2018Yield to maturity3.161%Mar 13, 2018Yield to maturity3.103%Mar 28, 2018Yield to maturity3.014%Apr 13, 2018Yield to maturity3.029%Apr 30, 2018Yield to maturity3.112%May 15, 2018Yield to maturity3.204%May 31, 2018Yield to maturity3.000%Jun 15, 2018Yield to maturity3.048%Jul 2, 2018Yield to maturity2.993%Jul 18, 2018Yield to maturity2.993%Aug 2, 2018Yield to maturity3.124%Aug 17, 2018Yield to maturity3.029%Sep 4, 2018Yield to maturity3.068%Sep 19, 2018Yield to maturity3.230%Oct 4, 2018Yield to maturity3.351%Oct 22, 2018Yield to maturity3.385%Nov 6, 2018Yield to maturity3.433%Nov 23, 2018Yield to maturity3.309%Dec 11, 2018Yield to maturity3.135%Dec 27, 2018Yield to maturity3.054%Jan 14, 2019Yield to maturity3.063%Jan 30, 2019Yield to maturity3.056%Feb 14, 2019Yield to maturity3.000%Mar 4, 2019Yield to maturity3.087%Mar 19, 2019Yield to maturity3.015%Apr 3, 2019Yield to maturity2.920%Apr 18, 2019Yield to maturity2.951%May 6, 2019Yield to maturity2.901%May 21, 2019Yield to maturity2.836%Jun 6, 2019Yield to maturity2.614%Jun 21, 2019Yield to maturity2.582%Jul 9, 2019Yield to maturity2.531%Jul 24, 2019Yield to maturity2.566%Aug 8, 2019Yield to maturity2.224%Aug 23, 2019Yield to maturity2.009%Sep 10, 2019Yield to maturity2.177%Sep 25, 2019Yield to maturity2.168%Oct 10, 2019Yield to maturity2.140%Oct 28, 2019Yield to maturity2.332%Nov 13, 2019Yield to maturity2.354%Nov 29, 2019Yield to maturity2.199%Dec 16, 2019Yield to maturity2.301%Jan 2, 2020Yield to maturity2.327%Jan 17, 2020Yield to maturity2.297%Feb 4, 2020Yield to maturity2.087%Feb 20, 2020Yield to maturity1.972%Mar 6, 2020Yield to maturity1.276%Mar 23, 2020Yield to maturity1.352%Apr 7, 2020Yield to maturity1.297%Apr 23, 2020Yield to maturity1.175%May 8, 2020Yield to maturity1.379%May 26, 2020Yield to maturity1.395%Jun 10, 2020Yield to maturity1.493%Jun 25, 2020Yield to maturity1.390%Jul 13, 2020Yield to maturity1.299%Jul 28, 2020Yield to maturity1.188%Aug 12, 2020Yield to maturity1.330%Aug 27, 2020Yield to maturity1.462%Sep 14, 2020Yield to maturity1.362%Sep 29, 2020Yield to maturity1.356%Oct 15, 2020Yield to maturity1.445%Oct 30, 2020Yield to maturity1.570%Nov 17, 2020Yield to maturity1.528%Dec 3, 2020Yield to maturity1.593%Dec 18, 2020Yield to maturity1.616%Jan 6, 2021Yield to maturity1.725%Jan 22, 2021Yield to maturity1.775%Feb 8, 2021Yield to maturity1.889%Feb 24, 2021Yield to maturity2.187%Mar 11, 2021Yield to maturity2.249%Mar 26, 2021Yield to maturity2.345%Apr 12, 2021Yield to maturity2.311%Apr 27, 2021Yield to maturity2.264%May 12, 2021Yield to maturity2.384%May 27, 2021Yield to maturity2.274%Jun 14, 2021Yield to maturity2.173%Jun 29, 2021Yield to maturity2.090%Jul 15, 2021Yield to maturity1.907%Jul 30, 2021Yield to maturity1.872%Aug 16, 2021Yield to maturity1.888%Aug 31, 2021Yield to maturity1.894%Sep 16, 2021Yield to maturity1.859%Oct 1, 2021Yield to maturity2.031%Oct 19, 2021Yield to maturity2.087%Nov 3, 2021Yield to maturity2.010%Nov 19, 2021Yield to maturity1.936%Dec 7, 2021Yield to maturity1.843%Dec 22, 2021Yield to maturity1.889%Jan 7, 2022Yield to maturity2.156%Jan 25, 2022Yield to maturity2.174%Feb 9, 2022Yield to maturity2.325%Feb 25, 2022Yield to maturity2.413%Mar 14, 2022Yield to maturity2.587%Mar 29, 2022Yield to maturity2.658%Apr 13, 2022Yield to maturity2.961%Apr 29, 2022Yield to maturity3.139%May 16, 2022Yield to maturity3.319%Jun 1, 2022Yield to maturity3.326%Jun 16, 2022Yield to maturity3.596%Jul 5, 2022Yield to maturity3.307%Jul 20, 2022Yield to maturity3.439%Aug 4, 2022Yield to maturity3.224%Aug 19, 2022Yield to maturity3.523%Sep 6, 2022Yield to maturity3.783%Sep 21, 2022Yield to maturity3.776%Oct 6, 2022Yield to maturity4.091%Oct 24, 2022Yield to maturity4.652%Nov 8, 2022Yield to maturity4.524%Nov 25, 2022Yield to maturity4.035%Dec 12, 2022Yield to maturity3.834%Dec 28, 2022Yield to maturity4.182%Jan 13, 2023Yield to maturity3.799%Jan 31, 2023Yield to maturity3.802%Feb 15, 2023Yield to maturity4.001%Mar 3, 2023Yield to maturity4.098%Mar 20, 2023Yield to maturity3.833%Apr 4, 2023Yield to maturity3.752%Apr 19, 2023Yield to maturity3.944%May 4, 2023Yield to maturity3.854%May 19, 2023Yield to maturity4.113%Jun 6, 2023Yield to maturity4.044%Jun 22, 2023Yield to maturity4.062%Jul 10, 2023Yield to maturity4.251%Jul 25, 2023Yield to maturity4.155%Aug 9, 2023Yield to maturity4.359%Aug 24, 2023Yield to maturity4.519%Sep 11, 2023Yield to maturity4.579%Sep 26, 2023Yield to maturity4.917%Oct 12, 2023Yield to maturity5.095%Oct 27, 2023Yield to maturity5.250%Nov 13, 2023Yield to maturity4.991%Nov 29, 2023Yield to maturity4.665%Dec 14, 2023Yield to maturity4.259%Jan 2, 2024Yield to maturity4.288%Jan 18, 2024Yield to maturity4.557%Feb 2, 2024Yield to maturity4.388%Feb 20, 2024Yield to maturity4.612%Mar 6, 2024Yield to maturity4.413%Mar 21, 2024Yield to maturity4.601%Apr 5, 2024Yield to maturity4.684%Apr 22, 2024Yield to maturity4.869%May 7, 2024Yield to maturity4.741%May 22, 2024Yield to maturity4.688%Jun 7, 2024Yield to maturity4.683%Jun 25, 2024Yield to maturity4.516%Jul 11, 2024Yield to maturity4.558%Jul 26, 2024Yield to maturity4.590%Aug 12, 2024Yield to maturity4.358%Aug 27, 2024Yield to maturity4.281%Sep 12, 2024Yield to maturity4.128%Sep 27, 2024Yield to maturity4.220%Oct 15, 2024Yield to maturity4.450%Oct 30, 2024Yield to maturity4.658%Nov 15, 2024Yield to maturity4.772%Dec 3, 2024Yield to maturity4.579%Dec 18, 2024Yield to maturity4.821%Jan 6, 2025Yield to maturity4.977%Jan 22, 2025Yield to maturity4.945%Feb 6, 2025Yield to maturity4.762%Feb 24, 2025Yield to maturity4.776%Mar 11, 2025Yield to maturity4.726%Mar 26, 2025Yield to maturity4.798%Apr 10, 2025Yield to maturity5.003%Apr 25, 2025Yield to maturity4.850%May 12, 2025Yield to maturity5.007%May 28, 2025Yield to maturity5.090%Jun 12, 2025Yield to maturity4.942%Jun 30, 2025Yield to maturity4.869%Jul 16, 2025Yield to maturity5.093%Jul 31, 2025Yield to maturity4.965%Aug 15, 2025Yield to maturity4.989%Sep 2, 2025Yield to maturity5.022%Sep 17, 2025Yield to maturity4.709%Oct 2, 2025Yield to maturity4.734%Oct 20, 2025Yield to maturity4.617%Nov 4, 2025Yield to maturity4.709%Nov 20, 2025Yield to maturity4.769%Dec 8, 2025Yield to maturity4.861%Dec 23, 2025Yield to maturity4.869%Jan 9, 2026Yield to maturity4.847%Jan 27, 2026Yield to maturity4.867%Feb 11, 2026Yield to maturity4.835%Feb 27, 2026Yield to maturity4.650%Mar 16, 2026Yield to maturity4.908%Mar 31, 2026Yield to maturity4.950%Apr 15, 2026Yield to maturity4.941%Apr 30, 2026Yield to maturity5.043%May 15, 2026Yield to maturity5.203%Jun 2, 2026Yield to maturity5.031%Jun 17, 2026Yield to maturity5.016%Jul 6, 2026Yield to maturity5.047%Jul 21, 2026Yield to maturity5.204%Aug 5, 2026Yield to maturity5.242%Aug 20, 2026Yield to maturity5.280%Sep 4, 2026Yield to maturity5.307%Sep 9, 2026Yield to maturity5.339%

Price history

2,456 trading days to Sep 9, 2026

6080100120140160Nov 15, 2016Sep 9, 2026Nov 15, 2016Close98.219Dec 1, 2016Close95.625Dec 16, 2016Close93.969Jan 4, 2017Close96.594Jan 20, 2017Close96.531Feb 6, 2017Close96.563Feb 22, 2017Close96.688Mar 9, 2017Close94.031Mar 24, 2017Close97.375Apr 10, 2017Close97.625Apr 26, 2017Close97.938May 11, 2017Close96.875May 26, 2017Close99.031Jun 13, 2017Close100.063Jun 28, 2017Close101.875Jul 14, 2017Close99.156Jul 31, 2017Close99.531Aug 15, 2017Close100.656Aug 30, 2017Close102.531Sep 15, 2017Close102.094Oct 2, 2017Close100.063Oct 18, 2017Close100.500Nov 2, 2017Close100.906Nov 17, 2017Close101.844Dec 5, 2017Close102.781Dec 20, 2017Close99.844Jan 8, 2018Close101.125Jan 24, 2018Close98.938Feb 8, 2018Close95.031Feb 26, 2018Close94.625Mar 13, 2018Close95.688Mar 28, 2018Close97.344Apr 13, 2018Close97.063Apr 30, 2018Close95.531May 15, 2018Close93.875May 31, 2018Close97.625Jun 15, 2018Close96.719Jul 2, 2018Close97.750Jul 18, 2018Close97.750Aug 2, 2018Close95.344Aug 17, 2018Close97.094Sep 4, 2018Close96.375Sep 19, 2018Close93.469Oct 4, 2018Close91.375Oct 22, 2018Close90.813Nov 6, 2018Close90.000Nov 23, 2018Close92.125Dec 11, 2018Close95.188Dec 27, 2018Close96.656Jan 14, 2019Close96.500Jan 30, 2019Close96.625Feb 14, 2019Close97.656Mar 4, 2019Close96.063Mar 19, 2019Close97.375Apr 3, 2019Close99.156Apr 18, 2019Close98.563May 6, 2019Close99.500May 21, 2019Close100.750Jun 6, 2019Close105.094Jun 21, 2019Close105.719Jul 9, 2019Close106.750Jul 24, 2019Close106.031Aug 8, 2019Close113.250Aug 23, 2019Close118.094Sep 10, 2019Close114.250Sep 25, 2019Close114.438Oct 10, 2019Close115.063Oct 28, 2019Close110.844Nov 13, 2019Close110.375Nov 29, 2019Close113.688Dec 16, 2019Close111.469Jan 2, 2020Close110.906Jan 17, 2020Close111.531Feb 4, 2020Close116.094Feb 20, 2020Close118.688Mar 6, 2020Close136.063Mar 23, 2020Close133.969Apr 7, 2020Close135.406Apr 23, 2020Close138.688May 8, 2020Close133.125May 26, 2020Close132.656Jun 10, 2020Close130.094Jun 25, 2020Close132.719Jul 13, 2020Close135.063Jul 28, 2020Close138.000Aug 12, 2020Close134.156Aug 27, 2020Close130.688Sep 14, 2020Close133.219Sep 29, 2020Close133.313Oct 15, 2020Close130.969Oct 30, 2020Close127.813Nov 17, 2020Close128.813Dec 3, 2020Close127.156Dec 18, 2020Close126.563Jan 6, 2021Close123.906Jan 22, 2021Close122.688Feb 8, 2021Close120.031Feb 24, 2021Close113.469Mar 11, 2021Close112.156Mar 26, 2021Close110.156Apr 12, 2021Close110.844Apr 27, 2021Close111.813May 12, 2021Close109.344May 27, 2021Close111.563Jun 14, 2021Close113.656Jun 29, 2021Close115.406Jul 15, 2021Close119.375Jul 30, 2021Close120.125Aug 16, 2021Close119.750Aug 31, 2021Close119.594Sep 16, 2021Close120.344Oct 1, 2021Close116.531Oct 19, 2021Close115.313Nov 3, 2021Close116.938Nov 19, 2021Close118.531Dec 7, 2021Close120.563Dec 22, 2021Close119.500Jan 7, 2022Close113.781Jan 25, 2022Close113.375Feb 9, 2022Close110.313Feb 25, 2022Close108.563Mar 14, 2022Close105.219Mar 29, 2022Close103.906Apr 13, 2022Close98.500Apr 29, 2022Close95.500May 16, 2022Close92.594Jun 1, 2022Close92.500Jun 16, 2022Close88.344Jul 5, 2022Close92.813Jul 20, 2022Close90.750Aug 4, 2022Close94.156Aug 19, 2022Close89.500Sep 6, 2022Close85.688Sep 21, 2022Close85.813Oct 6, 2022Close81.469Oct 24, 2022Close74.438Nov 8, 2022Close76.000Nov 25, 2022Close82.281Dec 12, 2022Close85.063Dec 28, 2022Close80.375Jan 13, 2023Close85.594Jan 31, 2023Close85.563Feb 15, 2023Close82.844Mar 3, 2023Close81.563Mar 20, 2023Close85.188Apr 4, 2023Close86.344Apr 19, 2023Close83.688May 4, 2023Close84.938May 19, 2023Close81.469Jun 6, 2023Close82.406Jun 22, 2023Close82.188Jul 10, 2023Close79.750Jul 25, 2023Close81.000Aug 9, 2023Close78.438Aug 24, 2023Close76.500Sep 11, 2023Close75.813Sep 26, 2023Close71.969Oct 12, 2023Close70.063Oct 27, 2023Close68.469Nov 13, 2023Close71.250Nov 29, 2023Close74.938Dec 14, 2023Close79.875Jan 2, 2024Close79.531Jan 18, 2024Close76.281Feb 2, 2024Close78.344Feb 20, 2024Close75.688Mar 6, 2024Close78.094Mar 21, 2024Close75.875Apr 5, 2024Close74.938Apr 22, 2024Close72.875May 7, 2024Close74.344May 22, 2024Close74.969Jun 7, 2024Close75.063Jun 25, 2024Close77.031Jul 11, 2024Close76.563Jul 26, 2024Close76.219Aug 12, 2024Close79.000Aug 27, 2024Close79.969Sep 12, 2024Close81.906Sep 27, 2024Close80.781Oct 15, 2024Close78.000Oct 30, 2024Close75.594Nov 15, 2024Close74.344Dec 3, 2024Close76.563Dec 18, 2024Close73.844Jan 6, 2025Close72.188Jan 22, 2025Close72.563Feb 6, 2025Close74.594Feb 24, 2025Close74.469Mar 11, 2025Close75.063Mar 26, 2025Close74.281Apr 10, 2025Close72.094Apr 25, 2025Close73.781May 12, 2025Close72.125May 28, 2025Close71.281Jun 12, 2025Close72.875Jun 30, 2025Close73.688Jul 16, 2025Close71.344Jul 31, 2025Close72.719Aug 15, 2025Close72.500Sep 2, 2025Close72.188Sep 17, 2025Close75.594Oct 2, 2025Close75.344Oct 20, 2025Close76.688Nov 4, 2025Close75.688Nov 20, 2025Close75.063Dec 8, 2025Close74.094Dec 23, 2025Close74.031Jan 9, 2026Close74.313Jan 27, 2026Close74.125Feb 11, 2026Close74.500Feb 27, 2026Close76.563Mar 16, 2026Close73.781Mar 31, 2026Close73.375Apr 15, 2026Close73.500Apr 30, 2026Close72.469May 15, 2026Close70.875Jun 2, 2026Close72.656Jun 17, 2026Close72.844Jul 6, 2026Close72.563Jul 21, 2026Close71.000Aug 5, 2026Close70.656Aug 20, 2026Close70.313Sep 4, 2026Close70.094Sep 9, 2026Close69.781
The most recent 20 trading days of prices for 912810RU4.
DateBidOfferClose
Sep 9, 202669.60969.56369.781
Sep 8, 202670.15670.12570.000
Sep 4, 202670.15670.12570.094
Sep 3, 202670.26670.25070.094
Sep 2, 202669.84469.81369.844
Sep 1, 202670.12570.09469.844
Aug 31, 202670.00069.96970.094
Aug 28, 202670.68870.65670.375
Aug 27, 202670.78170.75070.625
Aug 26, 202670.78170.75070.750
Aug 25, 202670.87570.84470.906
Aug 24, 202670.46970.43870.344
Aug 21, 202670.00069.96969.875
Aug 20, 202670.15670.12570.313
Aug 19, 202670.51670.46970.625
Aug 18, 202669.53169.50069.656
Aug 17, 202669.67269.65669.406
Aug 14, 202669.87569.84469.906
Aug 13, 202670.37570.34470.375
Aug 12, 202670.15670.12570.000

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 912810RU4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 10, 2016Nov 15, 2016New issue$15.0bn$18.3bn2.11x2.902%
Dec 13, 2016Dec 15, 2016Reopening$12.0bn$12.0bn2.39x3.152%
Jan 12, 2017Jan 17, 2017Reopening$12.0bn$12.7bn2.32x2.914%

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.