Treasury bond

912810SC3 · 3.125% due May 15, 2048

Original term
30-Year
Maturity
May 15, 2048
Coupon
3.125%
Pays
Semi-Annual
Dated
May 15, 2018
First coupon
Nov 15, 2018
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$46.15bn
Held stripped
$7.12bn
Share stripped
15.43%

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
5.352%
Modified duration
14.092 yr
DV01
0.1023
Convexity
264.011
Dirty price
72.627

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 14.273 years against a modified duration of 14.092.

Against the fitted curve

Priced 0.2 bp cheap to the curve on that day, 1.57 cents per 100 of face.

That is -0.50 standard deviations from its own typical residual.

Yield to maturity, 2,082 observations

1%2%3%4%5%6%May 15, 2018Sep 9, 2026May 15, 2018Yield to maturity3.203%May 29, 2018Yield to maturity2.959%Jun 11, 2018Yield to maturity3.098%Jun 22, 2018Yield to maturity3.043%Jul 6, 2018Yield to maturity2.935%Jul 19, 2018Yield to maturity2.963%Aug 1, 2018Yield to maturity3.126%Aug 14, 2018Yield to maturity3.059%Aug 27, 2018Yield to maturity2.994%Sep 10, 2018Yield to maturity3.086%Sep 21, 2018Yield to maturity3.202%Oct 4, 2018Yield to maturity3.349%Oct 18, 2018Yield to maturity3.359%Oct 31, 2018Yield to maturity3.394%Nov 14, 2018Yield to maturity3.360%Nov 28, 2018Yield to maturity3.346%Dec 12, 2018Yield to maturity3.158%Dec 26, 2018Yield to maturity3.067%Jan 9, 2019Yield to maturity3.038%Jan 23, 2019Yield to maturity3.074%Feb 5, 2019Yield to maturity3.039%Feb 19, 2019Yield to maturity2.994%Mar 4, 2019Yield to maturity3.095%Mar 15, 2019Yield to maturity3.016%Mar 28, 2019Yield to maturity2.811%Apr 10, 2019Yield to maturity2.898%Apr 24, 2019Yield to maturity2.942%May 7, 2019Yield to maturity2.861%May 20, 2019Yield to maturity2.831%Jun 3, 2019Yield to maturity2.536%Jun 14, 2019Yield to maturity2.597%Jun 27, 2019Yield to maturity2.526%Jul 11, 2019Yield to maturity2.638%Jul 24, 2019Yield to maturity2.576%Aug 6, 2019Yield to maturity2.252%Aug 19, 2019Yield to maturity2.076%Aug 30, 2019Yield to maturity1.954%Sep 13, 2019Yield to maturity2.361%Sep 26, 2019Yield to maturity2.143%Oct 9, 2019Yield to maturity2.077%Oct 23, 2019Yield to maturity2.247%Nov 5, 2019Yield to maturity2.331%Nov 19, 2019Yield to maturity2.255%Dec 3, 2019Yield to maturity2.168%Dec 16, 2019Yield to maturity2.305%Dec 30, 2019Yield to maturity2.342%Jan 13, 2020Yield to maturity2.298%Jan 27, 2020Yield to maturity2.054%Feb 7, 2020Yield to maturity2.050%Feb 21, 2020Yield to maturity1.903%Mar 5, 2020Yield to maturity1.562%Mar 18, 2020Yield to maturity1.856%Mar 31, 2020Yield to maturity1.374%Apr 14, 2020Yield to maturity1.404%Apr 27, 2020Yield to maturity1.254%May 8, 2020Yield to maturity1.386%May 21, 2020Yield to maturity1.367%Jun 4, 2020Yield to maturity1.585%Jun 17, 2020Yield to maturity1.492%Jun 30, 2020Yield to maturity1.388%Jul 14, 2020Yield to maturity1.277%Jul 27, 2020Yield to maturity1.224%Aug 7, 2020Yield to maturity1.198%Aug 20, 2020Yield to maturity1.344%Sep 2, 2020Yield to maturity1.342%Sep 16, 2020Yield to maturity1.399%Sep 29, 2020Yield to maturity1.369%Oct 13, 2020Yield to maturity1.466%Oct 26, 2020Yield to maturity1.533%Nov 6, 2020Yield to maturity1.524%Nov 20, 2020Yield to maturity1.472%Dec 4, 2020Yield to maturity1.667%Dec 17, 2020Yield to maturity1.613%Dec 31, 2020Yield to maturity1.582%Jan 14, 2021Yield to maturity1.818%Jan 28, 2021Yield to maturity1.754%Feb 10, 2021Yield to maturity1.864%Feb 24, 2021Yield to maturity2.194%Mar 9, 2021Yield to maturity2.224%Mar 22, 2021Yield to maturity2.351%Apr 2, 2021Yield to maturity2.330%Apr 15, 2021Yield to maturity2.192%Apr 28, 2021Yield to maturity2.268%May 11, 2021Yield to maturity2.325%May 24, 2021Yield to maturity2.291%Jun 7, 2021Yield to maturity2.228%Jun 18, 2021Yield to maturity2.001%Jul 1, 2021Yield to maturity2.063%Jul 15, 2021Yield to maturity1.906%Jul 28, 2021Yield to maturity1.890%Aug 10, 2021Yield to maturity1.970%Aug 23, 2021Yield to maturity1.843%Sep 3, 2021Yield to maturity1.918%Sep 17, 2021Yield to maturity1.884%Sep 30, 2021Yield to maturity2.061%Oct 14, 2021Yield to maturity2.003%Oct 27, 2021Yield to maturity1.935%Nov 9, 2021Yield to maturity1.814%Nov 23, 2021Yield to maturity2.020%Dec 7, 2021Yield to maturity1.804%Dec 20, 2021Yield to maturity1.857%Jan 3, 2022Yield to maturity2.025%Jan 14, 2022Yield to maturity2.141%Jan 28, 2022Yield to maturity2.093%Feb 10, 2022Yield to maturity2.342%Feb 24, 2022Yield to maturity2.336%Mar 9, 2022Yield to maturity2.338%Mar 22, 2022Yield to maturity2.643%Apr 4, 2022Yield to maturity2.546%Apr 18, 2022Yield to maturity3.029%Apr 29, 2022Yield to maturity3.060%May 12, 2022Yield to maturity3.137%May 25, 2022Yield to maturity3.090%Jun 8, 2022Yield to maturity3.318%Jun 22, 2022Yield to maturity3.391%Jul 6, 2022Yield to maturity3.304%Jul 19, 2022Yield to maturity3.326%Aug 1, 2022Yield to maturity3.068%Aug 12, 2022Yield to maturity3.293%Aug 25, 2022Yield to maturity3.434%Sep 8, 2022Yield to maturity3.643%Sep 21, 2022Yield to maturity3.677%Oct 4, 2022Yield to maturity3.884%Oct 18, 2022Yield to maturity4.215%Oct 31, 2022Yield to maturity4.388%Nov 14, 2022Yield to maturity4.275%Nov 28, 2022Yield to maturity3.942%Dec 9, 2022Yield to maturity3.762%Dec 22, 2022Yield to maturity3.890%Jan 6, 2023Yield to maturity3.828%Jan 20, 2023Yield to maturity3.770%Feb 2, 2023Yield to maturity3.652%Feb 15, 2023Yield to maturity3.960%Mar 1, 2023Yield to maturity4.115%Mar 14, 2023Yield to maturity3.871%Mar 27, 2023Yield to maturity3.883%Apr 7, 2023Yield to maturity3.718%Apr 20, 2023Yield to maturity3.865%May 3, 2023Yield to maturity3.794%May 16, 2023Yield to maturity3.978%May 30, 2023Yield to maturity4.047%Jun 12, 2023Yield to maturity4.017%Jun 26, 2023Yield to maturity3.968%Jul 10, 2023Yield to maturity4.208%Jul 21, 2023Yield to maturity4.073%Aug 3, 2023Yield to maturity4.475%Aug 16, 2023Yield to maturity4.540%Aug 29, 2023Yield to maturity4.400%Sep 12, 2023Yield to maturity4.518%Sep 25, 2023Yield to maturity4.845%Oct 6, 2023Yield to maturity5.133%Oct 20, 2023Yield to maturity5.300%Nov 2, 2023Yield to maturity5.012%Nov 15, 2023Yield to maturity4.889%Nov 29, 2023Yield to maturity4.636%Dec 12, 2023Yield to maturity4.497%Dec 26, 2023Yield to maturity4.233%Jan 9, 2024Yield to maturity4.359%Jan 23, 2024Yield to maturity4.551%Feb 5, 2024Yield to maturity4.513%Feb 16, 2024Yield to maturity4.607%Mar 1, 2024Yield to maturity4.496%Mar 14, 2024Yield to maturity4.592%Mar 27, 2024Yield to maturity4.500%Apr 9, 2024Yield to maturity4.630%Apr 22, 2024Yield to maturity4.858%May 3, 2024Yield to maturity4.791%May 16, 2024Yield to maturity4.652%May 30, 2024Yield to maturity4.810%Jun 12, 2024Yield to maturity4.604%Jun 26, 2024Yield to maturity4.593%Jul 10, 2024Yield to maturity4.620%Jul 23, 2024Yield to maturity4.618%Aug 5, 2024Yield to maturity4.225%Aug 16, 2024Yield to maturity4.329%Aug 29, 2024Yield to maturity4.322%Sep 12, 2024Yield to maturity4.144%Sep 25, 2024Yield to maturity4.277%Oct 8, 2024Yield to maturity4.471%Oct 22, 2024Yield to maturity4.634%Nov 4, 2024Yield to maturity4.656%Nov 18, 2024Yield to maturity4.789%Dec 2, 2024Yield to maturity4.542%Dec 13, 2024Yield to maturity4.779%Dec 27, 2024Yield to maturity4.976%Jan 10, 2025Yield to maturity5.104%Jan 24, 2025Yield to maturity4.985%Feb 6, 2025Yield to maturity4.775%Feb 20, 2025Yield to maturity4.876%Mar 5, 2025Yield to maturity4.723%Mar 18, 2025Yield to maturity4.714%Mar 31, 2025Yield to maturity4.718%Apr 11, 2025Yield to maturity5.007%Apr 24, 2025Yield to maturity4.899%May 7, 2025Yield to maturity4.889%May 20, 2025Yield to maturity5.089%Jun 3, 2025Yield to maturity5.108%Jun 16, 2025Yield to maturity5.082%Jun 30, 2025Yield to maturity4.883%Jul 14, 2025Yield to maturity5.066%Jul 25, 2025Yield to maturity5.017%Aug 7, 2025Yield to maturity4.899%Aug 20, 2025Yield to maturity4.970%Sep 3, 2025Yield to maturity4.961%Sep 16, 2025Yield to maturity4.710%Sep 29, 2025Yield to maturity4.779%Oct 10, 2025Yield to maturity4.690%Oct 24, 2025Yield to maturity4.647%Nov 6, 2025Yield to maturity4.751%Nov 20, 2025Yield to maturity4.788%Dec 4, 2025Yield to maturity4.823%Dec 17, 2025Yield to maturity4.890%Dec 31, 2025Yield to maturity4.898%Jan 14, 2026Yield to maturity4.836%Jan 28, 2026Yield to maturity4.910%Feb 10, 2026Yield to maturity4.824%Feb 24, 2026Yield to maturity4.739%Mar 9, 2026Yield to maturity4.789%Mar 20, 2026Yield to maturity5.065%Apr 2, 2026Yield to maturity4.959%Apr 15, 2026Yield to maturity4.955%Apr 28, 2026Yield to maturity5.006%May 11, 2026Yield to maturity5.053%May 22, 2026Yield to maturity5.145%Jun 5, 2026Yield to maturity5.095%Jun 18, 2026Yield to maturity4.988%Jul 2, 2026Yield to maturity5.059%Jul 16, 2026Yield to maturity5.168%Jul 29, 2026Yield to maturity5.290%Aug 11, 2026Yield to maturity5.325%Aug 24, 2026Yield to maturity5.288%Sep 4, 2026Yield to maturity5.315%Sep 9, 2026Yield to maturity5.352%

Price history

2,082 trading days to Sep 9, 2026

6080100120140160May 15, 2018Sep 9, 2026May 15, 2018Close98.500May 29, 2018Close103.281Jun 11, 2018Close100.531Jun 22, 2018Close101.594Jul 6, 2018Close103.750Jul 19, 2018Close103.188Aug 1, 2018Close99.969Aug 14, 2018Close101.281Aug 27, 2018Close102.563Sep 10, 2018Close100.750Sep 21, 2018Close98.531Oct 4, 2018Close95.813Oct 18, 2018Close95.625Oct 31, 2018Close95.000Nov 14, 2018Close95.625Nov 28, 2018Close95.875Dec 12, 2018Close99.375Dec 26, 2018Close101.125Jan 9, 2019Close101.688Jan 23, 2019Close100.969Feb 5, 2019Close101.656Feb 19, 2019Close102.531Mar 4, 2019Close100.563Mar 15, 2019Close102.094Mar 28, 2019Close106.219Apr 10, 2019Close104.438Apr 24, 2019Close103.563May 7, 2019Close105.188May 20, 2019Close105.781Jun 3, 2019Close112.031Jun 14, 2019Close110.688Jun 27, 2019Close112.219Jul 11, 2019Close109.781Jul 24, 2019Close111.125Aug 6, 2019Close118.406Aug 19, 2019Close122.625Aug 30, 2019Close125.625Sep 13, 2019Close115.844Sep 26, 2019Close120.938Oct 9, 2019Close122.500Oct 23, 2019Close118.438Nov 5, 2019Close116.469Nov 19, 2019Close118.219Dec 3, 2019Close120.250Dec 16, 2019Close117.031Dec 30, 2019Close116.156Jan 13, 2020Close117.156Jan 27, 2020Close122.906Feb 7, 2020Close122.969Feb 21, 2020Close126.594Mar 5, 2020Close135.531Mar 18, 2020Close127.719Mar 31, 2020Close140.719Apr 14, 2020Close139.813Apr 27, 2020Close144.125May 8, 2020Close140.250May 21, 2020Close140.750Jun 4, 2020Close134.656Jun 17, 2020Close137.156Jun 30, 2020Close140.031Jul 14, 2020Close143.188Jul 27, 2020Close144.688Aug 7, 2020Close145.406Aug 20, 2020Close141.125Sep 2, 2020Close141.125Sep 16, 2020Close139.469Sep 29, 2020Close140.281Oct 13, 2020Close137.531Oct 26, 2020Close135.656Nov 6, 2020Close135.875Nov 20, 2020Close137.250Dec 4, 2020Close132.000Dec 17, 2020Close133.375Dec 31, 2020Close134.156Jan 14, 2021Close128.063Jan 28, 2021Close129.625Feb 10, 2021Close126.844Feb 24, 2021Close119.000Mar 9, 2021Close118.313Mar 22, 2021Close115.469Apr 2, 2021Close115.906Apr 15, 2021Close118.969Apr 28, 2021Close117.250May 11, 2021Close115.969May 24, 2021Close116.719Jun 7, 2021Close118.094Jun 18, 2021Close123.281Jul 1, 2021Close121.813Jul 15, 2021Close125.500Jul 28, 2021Close125.875Aug 10, 2021Close123.938Aug 23, 2021Close126.969Sep 3, 2021Close125.125Sep 17, 2021Close125.906Sep 30, 2021Close121.719Oct 14, 2021Close123.031Oct 27, 2021Close124.625Nov 9, 2021Close127.500Nov 23, 2021Close122.563Dec 7, 2021Close127.688Dec 20, 2021Close126.375Jan 3, 2022Close122.375Jan 14, 2022Close119.719Jan 28, 2022Close120.781Feb 10, 2022Close115.281Feb 24, 2022Close115.406Mar 9, 2022Close115.344Mar 22, 2022Close109.063Apr 4, 2022Close111.000Apr 18, 2022Close101.719Apr 29, 2022Close101.156May 12, 2022Close99.781May 25, 2022Close100.625Jun 8, 2022Close96.656Jun 22, 2022Close95.438Jul 6, 2022Close96.906Jul 19, 2022Close96.531Aug 1, 2022Close101.000Aug 12, 2022Close97.094Aug 25, 2022Close94.750Sep 8, 2022Close91.406Sep 21, 2022Close90.875Oct 4, 2022Close87.750Oct 18, 2022Close83.031Oct 31, 2022Close80.719Nov 14, 2022Close82.250Nov 28, 2022Close86.938Dec 9, 2022Close89.625Dec 22, 2022Close87.719Jan 6, 2023Close88.656Jan 20, 2023Close89.531Feb 2, 2023Close91.344Feb 15, 2023Close86.750Mar 1, 2023Close84.563Mar 14, 2023Close88.063Mar 27, 2023Close87.906Apr 7, 2023Close90.375Apr 20, 2023Close88.188May 3, 2023Close89.250May 16, 2023Close86.563May 30, 2023Close85.594Jun 12, 2023Close86.031Jun 26, 2023Close86.750Jul 10, 2023Close83.406Jul 21, 2023Close85.281Aug 3, 2023Close79.906Aug 16, 2023Close79.094Aug 29, 2023Close80.906Sep 12, 2023Close79.406Sep 25, 2023Close75.406Oct 6, 2023Close72.125Oct 20, 2023Close70.313Nov 2, 2023Close73.531Nov 15, 2023Close74.969Nov 29, 2023Close78.031Dec 12, 2023Close79.781Dec 26, 2023Close83.250Jan 9, 2024Close81.594Jan 23, 2024Close79.156Feb 5, 2024Close79.656Feb 16, 2024Close78.500Mar 1, 2024Close79.906Mar 14, 2024Close78.719Mar 27, 2024Close79.875Apr 9, 2024Close78.281Apr 22, 2024Close75.563May 3, 2024Close76.375May 16, 2024Close78.063May 30, 2024Close76.188Jun 12, 2024Close78.688Jun 26, 2024Close78.844Jul 10, 2024Close78.531Jul 23, 2024Close78.563Aug 5, 2024Close83.594Aug 16, 2024Close82.250Aug 29, 2024Close82.344Sep 12, 2024Close84.719Sep 25, 2024Close82.969Oct 8, 2024Close80.500Oct 22, 2024Close78.500Nov 4, 2024Close78.250Nov 18, 2024Close76.688Dec 2, 2024Close79.688Dec 13, 2024Close76.844Dec 27, 2024Close74.594Jan 10, 2025Close73.188Jan 24, 2025Close74.531Feb 6, 2025Close76.969Feb 20, 2025Close75.813Mar 5, 2025Close77.625Mar 18, 2025Close77.750Mar 31, 2025Close77.719Apr 11, 2025Close74.406Apr 24, 2025Close75.656May 7, 2025Close75.781May 20, 2025Close73.563Jun 3, 2025Close73.375Jun 16, 2025Close73.688Jun 30, 2025Close75.938Jul 14, 2025Close73.906Jul 25, 2025Close74.469Aug 7, 2025Close75.813Aug 20, 2025Close75.031Sep 3, 2025Close75.156Sep 16, 2025Close78.063Sep 29, 2025Close77.281Oct 10, 2025Close78.344Oct 24, 2025Close78.875Nov 6, 2025Close77.656Nov 20, 2025Close77.250Dec 4, 2025Close76.875Dec 17, 2025Close76.125Dec 31, 2025Close76.063Jan 14, 2026Close76.781Jan 28, 2026Close75.969Feb 10, 2026Close76.969Feb 24, 2026Close77.969Mar 9, 2026Close77.406Mar 20, 2026Close74.344Apr 2, 2026Close75.531Apr 15, 2026Close75.594Apr 28, 2026Close75.063May 11, 2026Close74.563May 22, 2026Close73.594Jun 5, 2026Close74.156Jun 18, 2026Close75.344Jul 2, 2026Close74.594Jul 16, 2026Close73.438Jul 29, 2026Close72.188Aug 11, 2026Close71.844Aug 24, 2026Close72.250Sep 4, 2026Close72.000Sep 9, 2026Close71.625
The most recent 20 trading days of prices for 912810SC3.
DateBidOfferClose
Sep 9, 202671.45371.40671.625
Sep 8, 202672.03172.00071.875
Sep 4, 202672.03172.00072.000
Sep 3, 202672.15672.12571.969
Sep 2, 202671.75071.71971.719
Sep 1, 202672.03172.00071.719
Aug 31, 202671.90671.87572.000
Aug 28, 202672.65672.62572.313
Aug 27, 202672.75072.71972.594
Aug 26, 202672.73472.71972.688
Aug 25, 202672.81372.78172.844
Aug 24, 202672.40672.37572.250
Aug 21, 202671.85971.81371.750
Aug 20, 202672.03172.00072.188
Aug 19, 202672.40672.37572.531
Aug 18, 202671.34471.31371.500
Aug 17, 202671.50071.46971.219
Aug 14, 202671.71971.68871.750
Aug 13, 202672.25072.21972.250
Aug 12, 202672.01672.00071.844

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 912810SC3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 10, 2018May 15, 2018New issue$17.0bn$21.1bn2.38x3.130%
Jun 12, 2018Jun 15, 2018Reopening$14.0bn$14.0bn2.38x3.100%
Jul 12, 2018Jul 16, 2018Reopening$14.0bn$14.1bn2.34x2.958%

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.