Treasury bond

912810SD1 · 3% due August 15, 2048

Original term
30-Year
Maturity
Aug 15, 2048
Coupon
3.000%
Pays
Semi-Annual
Dated
Aug 15, 2018
First coupon
Feb 15, 2019
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$49.98bn
Held stripped
$14.65bn
Share stripped
29.32%

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
5.356%
Modified duration
14.459 yr
DV01
0.1012
Convexity
274.489
Dirty price
70.024

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 14.645 years against a modified duration of 14.459.

Against the fitted curve

Priced 0.2 bp rich to the curve on that day, 1.63 cents per 100 of face.

That is -0.60 standard deviations from its own typical residual.

Yield to maturity, 2,018 observations

1%2%3%4%5%6%Aug 15, 2018Sep 9, 2026Aug 15, 2018Yield to maturity3.030%Aug 28, 2018Yield to maturity3.032%Sep 11, 2018Yield to maturity3.126%Sep 24, 2018Yield to maturity3.212%Oct 5, 2018Yield to maturity3.404%Oct 19, 2018Yield to maturity3.383%Nov 1, 2018Yield to maturity3.383%Nov 15, 2018Yield to maturity3.361%Nov 29, 2018Yield to maturity3.331%Dec 13, 2018Yield to maturity3.166%Dec 27, 2018Yield to maturity3.056%Jan 10, 2019Yield to maturity3.060%Jan 24, 2019Yield to maturity3.042%Feb 6, 2019Yield to maturity3.039%Feb 20, 2019Yield to maturity2.997%Mar 5, 2019Yield to maturity3.091%Mar 18, 2019Yield to maturity3.016%Mar 29, 2019Yield to maturity2.813%Apr 11, 2019Yield to maturity2.938%Apr 25, 2019Yield to maturity2.947%May 8, 2019Yield to maturity2.896%May 21, 2019Yield to maturity2.846%Jun 4, 2019Yield to maturity2.610%Jun 17, 2019Yield to maturity2.585%Jun 28, 2019Yield to maturity2.528%Jul 12, 2019Yield to maturity2.640%Jul 25, 2019Yield to maturity2.604%Aug 7, 2019Yield to maturity2.225%Aug 20, 2019Yield to maturity2.032%Sep 3, 2019Yield to maturity1.944%Sep 16, 2019Yield to maturity2.299%Sep 27, 2019Yield to maturity2.130%Oct 10, 2019Yield to maturity2.153%Oct 24, 2019Yield to maturity2.258%Nov 6, 2019Yield to maturity2.295%Nov 20, 2019Yield to maturity2.200%Dec 4, 2019Yield to maturity2.223%Dec 17, 2019Yield to maturity2.313%Dec 31, 2019Yield to maturity2.388%Jan 14, 2020Yield to maturity2.270%Jan 28, 2020Yield to maturity2.099%Feb 10, 2020Yield to maturity2.030%Feb 24, 2020Yield to maturity1.841%Mar 6, 2020Yield to maturity1.265%Mar 19, 2020Yield to maturity1.866%Apr 1, 2020Yield to maturity1.292%Apr 15, 2020Yield to maturity1.260%Apr 28, 2020Yield to maturity1.205%May 11, 2020Yield to maturity1.430%May 22, 2020Yield to maturity1.346%Jun 5, 2020Yield to maturity1.653%Jun 18, 2020Yield to maturity1.440%Jul 1, 2020Yield to maturity1.406%Jul 15, 2020Yield to maturity1.306%Jul 28, 2020Yield to maturity1.194%Aug 10, 2020Yield to maturity1.222%Aug 21, 2020Yield to maturity1.319%Sep 3, 2020Yield to maturity1.308%Sep 17, 2020Yield to maturity1.388%Sep 30, 2020Yield to maturity1.418%Oct 14, 2020Yield to maturity1.456%Oct 27, 2020Yield to maturity1.514%Nov 9, 2020Yield to maturity1.667%Nov 23, 2020Yield to maturity1.504%Dec 7, 2020Yield to maturity1.632%Dec 18, 2020Yield to maturity1.636%Jan 4, 2021Yield to maturity1.597%Jan 15, 2021Yield to maturity1.793%Jan 29, 2021Yield to maturity1.811%Feb 11, 2021Yield to maturity1.893%Feb 25, 2021Yield to maturity2.296%Mar 10, 2021Yield to maturity2.214%Mar 23, 2021Yield to maturity2.316%Apr 5, 2021Yield to maturity2.337%Apr 16, 2021Yield to maturity2.232%Apr 29, 2021Yield to maturity2.287%May 12, 2021Yield to maturity2.385%May 25, 2021Yield to maturity2.245%Jun 8, 2021Yield to maturity2.197%Jun 21, 2021Yield to maturity2.108%Jul 2, 2021Yield to maturity2.038%Jul 16, 2021Yield to maturity1.921%Jul 29, 2021Yield to maturity1.904%Aug 11, 2021Yield to maturity1.986%Aug 24, 2021Yield to maturity1.887%Sep 7, 2021Yield to maturity1.968%Sep 20, 2021Yield to maturity1.828%Oct 1, 2021Yield to maturity2.033%Oct 15, 2021Yield to maturity2.042%Oct 28, 2021Yield to maturity1.956%Nov 10, 2021Yield to maturity1.914%Nov 24, 2021Yield to maturity1.974%Dec 8, 2021Yield to maturity1.888%Dec 21, 2021Yield to maturity1.898%Jan 4, 2022Yield to maturity2.093%Jan 18, 2022Yield to maturity2.204%Jan 31, 2022Yield to maturity2.134%Feb 11, 2022Yield to maturity2.294%Feb 25, 2022Yield to maturity2.353%Mar 10, 2022Yield to maturity2.430%Mar 23, 2022Yield to maturity2.579%Apr 5, 2022Yield to maturity2.649%Apr 19, 2022Yield to maturity3.096%May 2, 2022Yield to maturity3.185%May 13, 2022Yield to maturity3.254%May 26, 2022Yield to maturity3.121%Jun 9, 2022Yield to maturity3.314%Jun 23, 2022Yield to maturity3.353%Jul 7, 2022Yield to maturity3.363%Jul 20, 2022Yield to maturity3.334%Aug 2, 2022Yield to maturity3.154%Aug 15, 2022Yield to maturity3.273%Aug 26, 2022Yield to maturity3.389%Sep 9, 2022Yield to maturity3.648%Sep 22, 2022Yield to maturity3.813%Oct 5, 2022Yield to maturity3.948%Oct 19, 2022Yield to maturity4.307%Nov 1, 2022Yield to maturity4.282%Nov 15, 2022Yield to maturity4.168%Nov 29, 2022Yield to maturity3.998%Dec 12, 2022Yield to maturity3.753%Dec 23, 2022Yield to maturity3.973%Jan 9, 2023Yield to maturity3.807%Jan 23, 2023Yield to maturity3.791%Feb 3, 2023Yield to maturity3.725%Feb 16, 2023Yield to maturity4.039%Mar 2, 2023Yield to maturity4.166%Mar 15, 2023Yield to maturity3.768%Mar 28, 2023Yield to maturity3.875%Apr 10, 2023Yield to maturity3.732%Apr 21, 2023Yield to maturity3.883%May 4, 2023Yield to maturity3.809%May 17, 2023Yield to maturity3.981%May 31, 2023Yield to maturity3.982%Jun 13, 2023Yield to maturity4.074%Jun 27, 2023Yield to maturity3.977%Jul 11, 2023Yield to maturity4.174%Jul 24, 2023Yield to maturity4.073%Aug 4, 2023Yield to maturity4.355%Aug 17, 2023Yield to maturity4.565%Aug 30, 2023Yield to maturity4.396%Sep 13, 2023Yield to maturity4.498%Sep 26, 2023Yield to maturity4.873%Oct 10, 2023Yield to maturity5.020%Oct 23, 2023Yield to maturity5.205%Nov 3, 2023Yield to maturity4.949%Nov 16, 2023Yield to maturity4.832%Nov 30, 2023Yield to maturity4.725%Dec 13, 2023Yield to maturity4.377%Dec 27, 2023Yield to maturity4.130%Jan 10, 2024Yield to maturity4.383%Jan 24, 2024Yield to maturity4.578%Feb 6, 2024Yield to maturity4.449%Feb 20, 2024Yield to maturity4.604%Mar 4, 2024Yield to maturity4.517%Mar 15, 2024Yield to maturity4.584%Mar 28, 2024Yield to maturity4.492%Apr 10, 2024Yield to maturity4.771%Apr 23, 2024Yield to maturity4.858%May 6, 2024Yield to maturity4.766%May 17, 2024Yield to maturity4.692%May 31, 2024Yield to maturity4.770%Jun 13, 2024Yield to maturity4.533%Jun 27, 2024Yield to maturity4.570%Jul 11, 2024Yield to maturity4.551%Jul 24, 2024Yield to maturity4.684%Aug 6, 2024Yield to maturity4.338%Aug 19, 2024Yield to maturity4.293%Aug 30, 2024Yield to maturity4.360%Sep 13, 2024Yield to maturity4.130%Sep 26, 2024Yield to maturity4.273%Oct 9, 2024Yield to maturity4.491%Oct 23, 2024Yield to maturity4.656%Nov 5, 2024Yield to maturity4.606%Nov 19, 2024Yield to maturity4.749%Dec 3, 2024Yield to maturity4.576%Dec 16, 2024Yield to maturity4.764%Dec 30, 2024Yield to maturity4.929%Jan 13, 2025Yield to maturity5.111%Jan 27, 2025Yield to maturity4.897%Feb 7, 2025Yield to maturity4.825%Feb 21, 2025Yield to maturity4.800%Mar 6, 2025Yield to maturity4.743%Mar 19, 2025Yield to maturity4.694%Apr 1, 2025Yield to maturity4.656%Apr 14, 2025Yield to maturity4.947%Apr 25, 2025Yield to maturity4.869%May 8, 2025Yield to maturity4.970%May 21, 2025Yield to maturity5.205%Jun 4, 2025Yield to maturity5.014%Jun 17, 2025Yield to maturity5.010%Jul 1, 2025Yield to maturity4.887%Jul 15, 2025Yield to maturity5.118%Jul 28, 2025Yield to maturity5.057%Aug 8, 2025Yield to maturity4.940%Aug 21, 2025Yield to maturity5.010%Sep 4, 2025Yield to maturity4.927%Sep 17, 2025Yield to maturity4.729%Sep 30, 2025Yield to maturity4.804%Oct 14, 2025Yield to maturity4.682%Oct 27, 2025Yield to maturity4.638%Nov 7, 2025Yield to maturity4.766%Nov 21, 2025Yield to maturity4.781%Dec 5, 2025Yield to maturity4.863%Dec 18, 2025Yield to maturity4.865%Jan 2, 2026Yield to maturity4.923%Jan 15, 2026Yield to maturity4.850%Jan 29, 2026Yield to maturity4.905%Feb 11, 2026Yield to maturity4.865%Feb 25, 2026Yield to maturity4.741%Mar 10, 2026Yield to maturity4.841%Mar 23, 2026Yield to maturity5.021%Apr 3, 2026Yield to maturity5.000%Apr 16, 2026Yield to maturity4.996%Apr 29, 2026Yield to maturity5.059%May 12, 2026Yield to maturity5.105%May 26, 2026Yield to maturity5.107%Jun 8, 2026Yield to maturity5.121%Jun 22, 2026Yield to maturity5.036%Jul 6, 2026Yield to maturity5.065%Jul 17, 2026Yield to maturity5.147%Jul 30, 2026Yield to maturity5.299%Aug 12, 2026Yield to maturity5.332%Aug 25, 2026Yield to maturity5.237%Sep 8, 2026Yield to maturity5.331%Sep 9, 2026Yield to maturity5.356%

Price history

2,018 trading days to Sep 9, 2026

6080100120140160Aug 15, 2018Sep 9, 2026Aug 15, 2018Close99.406Aug 28, 2018Close99.375Sep 11, 2018Close97.563Sep 24, 2018Close95.938Oct 5, 2018Close92.469Oct 19, 2018Close92.844Nov 1, 2018Close92.844Nov 15, 2018Close93.250Nov 29, 2018Close93.781Dec 13, 2018Close96.813Dec 27, 2018Close98.906Jan 10, 2019Close98.844Jan 24, 2019Close99.188Feb 6, 2019Close99.250Feb 20, 2019Close100.063Mar 5, 2019Close98.250Mar 18, 2019Close99.688Mar 29, 2019Close103.719Apr 11, 2019Close101.219Apr 25, 2019Close101.031May 8, 2019Close102.031May 21, 2019Close103.031Jun 4, 2019Close107.938Jun 17, 2019Close108.469Jun 28, 2019Close109.688Jul 12, 2019Close107.281Jul 25, 2019Close108.031Aug 7, 2019Close116.500Aug 20, 2019Close121.125Sep 3, 2019Close123.281Sep 16, 2019Close114.750Sep 27, 2019Close118.688Oct 10, 2019Close118.125Oct 24, 2019Close115.656Nov 6, 2019Close114.781Nov 20, 2019Close116.969Dec 4, 2019Close116.406Dec 17, 2019Close114.344Dec 31, 2019Close112.625Jan 14, 2020Close115.281Jan 28, 2020Close119.281Feb 10, 2020Close120.906Feb 24, 2020Close125.594Mar 6, 2020Close141.344Mar 19, 2020Close124.906Apr 1, 2020Close140.469Apr 15, 2020Close141.344Apr 28, 2020Close142.938May 11, 2020Close136.406May 22, 2020Close138.719Jun 5, 2020Close130.250Jun 18, 2020Close136.000Jul 1, 2020Close136.906Jul 15, 2020Close139.719Jul 28, 2020Close142.938Aug 10, 2020Close142.063Aug 21, 2020Close139.219Sep 3, 2020Close139.500Sep 17, 2020Close137.188Sep 30, 2020Close136.313Oct 14, 2020Close135.219Oct 27, 2020Close133.625Nov 9, 2020Close129.531Nov 23, 2020Close133.813Dec 7, 2020Close130.375Dec 18, 2020Close130.250Jan 4, 2021Close131.219Jan 15, 2021Close126.156Jan 29, 2021Close125.688Feb 11, 2021Close123.656Feb 25, 2021Close114.281Mar 10, 2021Close116.094Mar 23, 2021Close113.813Apr 5, 2021Close113.344Apr 16, 2021Close115.656Apr 29, 2021Close114.406May 12, 2021Close112.281May 25, 2021Close115.313Jun 8, 2021Close116.375Jun 21, 2021Close118.375Jul 2, 2021Close119.969Jul 16, 2021Close122.688Jul 29, 2021Close123.094Aug 11, 2021Close121.125Aug 24, 2021Close123.438Sep 7, 2021Close121.500Sep 20, 2021Close124.813Oct 1, 2021Close119.938Oct 15, 2021Close119.719Oct 28, 2021Close121.688Nov 10, 2021Close122.656Nov 24, 2021Close121.219Dec 8, 2021Close123.219Dec 21, 2021Close122.969Jan 4, 2022Close118.438Jan 18, 2022Close115.938Jan 31, 2022Close117.469Feb 11, 2022Close113.969Feb 25, 2022Close112.688Mar 10, 2022Close111.063Mar 23, 2022Close108.031Apr 5, 2022Close106.625Apr 19, 2022Close98.281May 2, 2022Close96.719May 13, 2022Close95.531May 26, 2022Close97.844Jun 9, 2022Close94.531Jun 23, 2022Close93.875Jul 7, 2022Close93.719Jul 20, 2022Close94.219Aug 2, 2022Close97.281Aug 15, 2022Close95.250Aug 26, 2022Close93.313Sep 9, 2022Close89.188Sep 22, 2022Close86.688Oct 5, 2022Close84.719Oct 19, 2022Close79.750Nov 1, 2022Close80.094Nov 15, 2022Close81.656Nov 29, 2022Close84.063Dec 12, 2022Close87.656Dec 23, 2022Close84.438Jan 9, 2023Close86.875Jan 23, 2023Close87.125Feb 3, 2023Close88.125Feb 16, 2023Close83.563Mar 2, 2023Close81.813Mar 15, 2023Close87.500Mar 28, 2023Close85.938Apr 10, 2023Close88.063Apr 21, 2023Close85.844May 4, 2023Close86.938May 17, 2023Close84.469May 31, 2023Close84.469Jun 13, 2023Close83.188Jun 27, 2023Close84.563Jul 11, 2023Close81.844Jul 24, 2023Close83.250Aug 4, 2023Close79.469Aug 17, 2023Close76.813Aug 30, 2023Close78.969Sep 13, 2023Close77.688Sep 26, 2023Close73.156Oct 10, 2023Close71.500Oct 23, 2023Close69.469Nov 3, 2023Close72.344Nov 16, 2023Close73.719Nov 30, 2023Close75.000Dec 13, 2023Close79.344Dec 27, 2023Close82.625Jan 10, 2024Close79.313Jan 24, 2024Close76.875Feb 6, 2024Close78.500Feb 20, 2024Close76.594Mar 4, 2024Close77.688Mar 15, 2024Close76.875Mar 28, 2024Close78.031Apr 10, 2024Close74.656Apr 23, 2024Close73.656May 6, 2024Close74.750May 17, 2024Close75.656May 31, 2024Close74.750Jun 13, 2024Close77.625Jun 27, 2024Close77.188Jul 11, 2024Close77.438Jul 24, 2024Close75.844Aug 6, 2024Close80.156Aug 19, 2024Close80.750Aug 30, 2024Close79.906Sep 13, 2024Close82.938Sep 26, 2024Close81.063Oct 9, 2024Close78.313Oct 23, 2024Close76.313Nov 5, 2024Close76.938Nov 19, 2024Close75.250Dec 3, 2024Close77.344Dec 16, 2024Close75.125Dec 30, 2024Close73.250Jan 13, 2025Close71.250Jan 27, 2025Close73.656Feb 7, 2025Close74.500Feb 21, 2025Close74.813Mar 6, 2025Close75.500Mar 19, 2025Close76.094Apr 1, 2025Close76.563Apr 14, 2025Close73.219Apr 25, 2025Close74.125May 8, 2025Close73.000May 21, 2025Close70.469Jun 4, 2025Close72.563Jun 17, 2025Close72.625Jul 1, 2025Close74.031Jul 15, 2025Close71.500Jul 28, 2025Close72.188Aug 8, 2025Close73.500Aug 21, 2025Close72.750Sep 4, 2025Close73.688Sep 17, 2025Close75.969Sep 30, 2025Close75.125Oct 14, 2025Close76.563Oct 27, 2025Close77.094Nov 7, 2025Close75.625Nov 21, 2025Close75.469Dec 5, 2025Close74.563Dec 18, 2025Close74.563Jan 2, 2026Close73.938Jan 15, 2026Close74.781Jan 29, 2026Close74.188Feb 11, 2026Close74.656Feb 25, 2026Close76.094Mar 10, 2026Close74.969Mar 23, 2026Close73.000Apr 3, 2026Close73.250Apr 16, 2026Close73.313Apr 29, 2026Close72.656May 12, 2026Close72.188May 26, 2026Close72.188Jun 8, 2026Close72.063Jun 22, 2026Close73.000Jul 6, 2026Close72.719Jul 17, 2026Close71.875Jul 30, 2026Close70.313Aug 12, 2026Close70.000Aug 25, 2026Close71.000Sep 8, 2026Close70.063Sep 9, 2026Close69.813
The most recent 20 trading days of prices for 912810SD1.
DateBidOfferClose
Sep 9, 202669.64169.59469.813
Sep 8, 202670.20370.18870.063
Sep 4, 202670.21970.18870.156
Sep 3, 202670.34470.31370.125
Sep 2, 202669.93869.90669.906
Sep 1, 202670.18870.15669.906
Aug 31, 202670.06370.03170.156
Aug 28, 202670.82870.78170.469
Aug 27, 202670.90670.87570.750
Aug 26, 202670.89170.87570.844
Aug 25, 202670.93870.90671.000
Aug 24, 202670.53170.50070.375
Aug 21, 202670.00069.96969.906
Aug 20, 202670.17270.15670.344
Aug 19, 202670.56370.53170.688
Aug 18, 202669.53169.50069.656
Aug 17, 202669.67269.65669.406
Aug 14, 202669.87569.84469.938
Aug 13, 202670.40670.37570.406
Aug 12, 202670.18870.15670.000

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 912810SD1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 9, 2018Aug 15, 2018New issue$18.0bn$20.4bn2.27x3.090%
Sep 13, 2018Sep 17, 2018Reopening$15.0bn$15.0bn2.34x3.088%
Oct 11, 2018Oct 15, 2018Reopening$15.0bn$15.0bn2.42x3.344%

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.