Treasury bond

912810SQ2 · 1.125% due August 15, 2040

Original term
20-Year
Maturity
Aug 15, 2040
Coupon
1.125%
Pays
Semi-Annual
Dated
Aug 15, 2020
First coupon
Feb 15, 2021
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$75.49bn
Held stripped
$120.6m
Share stripped
0.16%

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
5.119%
Modified duration
12.221 yr
DV01
0.0741
Convexity
166.281
Dirty price
60.642

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 9 of twelve buckets, summing to 12.506 years against a modified duration of 12.221.

Against the fitted curve

Priced 1.9 bp rich to the curve on that day, 14.18 cents per 100 of face.

That is -1.76 standard deviations from its own typical residual.

Yield to maturity, 1,508 observations

1%2%3%4%5%6%Aug 31, 2020Sep 9, 2026Aug 31, 2020Yield to maturity1.258%Sep 10, 2020Yield to maturity1.215%Sep 21, 2020Yield to maturity1.212%Sep 30, 2020Yield to maturity1.230%Oct 9, 2020Yield to maturity1.337%Oct 21, 2020Yield to maturity1.385%Oct 30, 2020Yield to maturity1.423%Nov 10, 2020Yield to maturity1.524%Nov 20, 2020Yield to maturity1.318%Dec 2, 2020Yield to maturity1.490%Dec 11, 2020Yield to maturity1.413%Dec 22, 2020Yield to maturity1.440%Jan 4, 2021Yield to maturity1.448%Jan 13, 2021Yield to maturity1.620%Jan 25, 2021Yield to maturity1.603%Feb 3, 2021Yield to maturity1.723%Feb 12, 2021Yield to maturity1.825%Feb 24, 2021Yield to maturity2.075%Mar 5, 2021Yield to maturity2.196%Mar 16, 2021Yield to maturity2.304%Mar 25, 2021Yield to maturity2.256%Apr 5, 2021Yield to maturity2.294%Apr 14, 2021Yield to maturity2.234%Apr 23, 2021Yield to maturity2.148%May 4, 2021Yield to maturity2.166%May 13, 2021Yield to maturity2.292%May 24, 2021Yield to maturity2.227%Jun 3, 2021Yield to maturity2.230%Jun 14, 2021Yield to maturity2.128%Jun 23, 2021Yield to maturity2.053%Jul 2, 2021Yield to maturity1.987%Jul 14, 2021Yield to maturity1.914%Jul 23, 2021Yield to maturity1.848%Aug 3, 2021Yield to maturity1.755%Aug 12, 2021Yield to maturity1.917%Aug 23, 2021Yield to maturity1.769%Sep 1, 2021Yield to maturity1.824%Sep 13, 2021Yield to maturity1.817%Sep 22, 2021Yield to maturity1.767%Oct 1, 2021Yield to maturity1.987%Oct 13, 2021Yield to maturity2.001%Oct 22, 2021Yield to maturity2.070%Nov 2, 2021Yield to maturity1.983%Nov 12, 2021Yield to maturity1.985%Nov 23, 2021Yield to maturity2.089%Dec 3, 2021Yield to maturity1.780%Dec 14, 2021Yield to maturity1.872%Dec 23, 2021Yield to maturity1.944%Jan 4, 2022Yield to maturity2.105%Jan 13, 2022Yield to maturity2.111%Jan 25, 2022Yield to maturity2.185%Feb 3, 2022Yield to maturity2.204%Feb 14, 2022Yield to maturity2.361%Feb 24, 2022Yield to maturity2.388%Mar 7, 2022Yield to maturity2.292%Mar 16, 2022Yield to maturity2.575%Mar 25, 2022Yield to maturity2.759%Apr 5, 2022Yield to maturity2.753%Apr 14, 2022Yield to maturity3.119%Apr 26, 2022Yield to maturity3.058%May 5, 2022Yield to maturity3.383%May 16, 2022Yield to maturity3.313%May 25, 2022Yield to maturity3.171%Jun 6, 2022Yield to maturity3.444%Jun 15, 2022Yield to maturity3.670%Jun 27, 2022Yield to maturity3.588%Jul 7, 2022Yield to maturity3.457%Jul 18, 2022Yield to maturity3.394%Jul 27, 2022Yield to maturity3.286%Aug 5, 2022Yield to maturity3.332%Aug 16, 2022Yield to maturity3.357%Aug 25, 2022Yield to maturity3.534%Sep 6, 2022Yield to maturity3.803%Sep 15, 2022Yield to maturity3.847%Sep 26, 2022Yield to maturity4.145%Oct 5, 2022Yield to maturity4.155%Oct 17, 2022Yield to maturity4.381%Oct 26, 2022Yield to maturity4.461%Nov 4, 2022Yield to maturity4.564%Nov 16, 2022Yield to maturity4.110%Nov 28, 2022Yield to maturity4.034%Dec 7, 2022Yield to maturity3.716%Dec 16, 2022Yield to maturity3.776%Dec 28, 2022Yield to maturity4.183%Jan 9, 2023Yield to maturity3.840%Jan 19, 2023Yield to maturity3.701%Jan 30, 2023Yield to maturity3.807%Feb 8, 2023Yield to maturity3.886%Feb 17, 2023Yield to maturity4.042%Mar 1, 2023Yield to maturity4.214%Mar 10, 2023Yield to maturity3.883%Mar 21, 2023Yield to maturity3.896%Mar 30, 2023Yield to maturity3.877%Apr 10, 2023Yield to maturity3.743%Apr 19, 2023Yield to maturity3.920%Apr 28, 2023Yield to maturity3.788%May 9, 2023Yield to maturity3.937%May 18, 2023Yield to maturity4.042%May 30, 2023Yield to maturity4.066%Jun 8, 2023Yield to maturity4.028%Jun 20, 2023Yield to maturity3.993%Jun 29, 2023Yield to maturity4.099%Jul 11, 2023Yield to maturity4.222%Jul 20, 2023Yield to maturity4.098%Jul 31, 2023Yield to maturity4.217%Aug 9, 2023Yield to maturity4.313%Aug 18, 2023Yield to maturity4.547%Aug 29, 2023Yield to maturity4.402%Sep 8, 2023Yield to maturity4.514%Sep 19, 2023Yield to maturity4.623%Sep 28, 2023Yield to maturity4.929%Oct 10, 2023Yield to maturity5.067%Oct 19, 2023Yield to maturity5.361%Oct 30, 2023Yield to maturity5.262%Nov 8, 2023Yield to maturity4.834%Nov 17, 2023Yield to maturity4.806%Nov 29, 2023Yield to maturity4.652%Dec 8, 2023Yield to maturity4.516%Dec 19, 2023Yield to maturity4.222%Dec 29, 2023Yield to maturity4.164%Jan 10, 2024Yield to maturity4.326%Jan 22, 2024Yield to maturity4.423%Jan 31, 2024Yield to maturity4.312%Feb 9, 2024Yield to maturity4.494%Feb 21, 2024Yield to maturity4.618%Mar 1, 2024Yield to maturity4.450%Mar 12, 2024Yield to maturity4.398%Mar 21, 2024Yield to maturity4.531%Apr 1, 2024Yield to maturity4.559%Apr 10, 2024Yield to maturity4.745%Apr 19, 2024Yield to maturity4.815%Apr 30, 2024Yield to maturity4.873%May 9, 2024Yield to maturity4.667%May 20, 2024Yield to maturity4.643%May 30, 2024Yield to maturity4.746%Jun 10, 2024Yield to maturity4.636%Jun 20, 2024Yield to maturity4.430%Jul 1, 2024Yield to maturity4.715%Jul 11, 2024Yield to maturity4.437%Jul 22, 2024Yield to maturity4.508%Jul 31, 2024Yield to maturity4.340%Aug 9, 2024Yield to maturity4.237%Aug 20, 2024Yield to maturity4.116%Aug 29, 2024Yield to maturity4.186%Sep 10, 2024Yield to maturity3.963%Sep 19, 2024Yield to maturity4.058%Sep 30, 2024Yield to maturity4.118%Oct 9, 2024Yield to maturity4.354%Oct 21, 2024Yield to maturity4.501%Oct 30, 2024Yield to maturity4.553%Nov 8, 2024Yield to maturity4.556%Nov 20, 2024Yield to maturity4.650%Dec 2, 2024Yield to maturity4.417%Dec 11, 2024Yield to maturity4.524%Dec 20, 2024Yield to maturity4.786%Jan 2, 2025Yield to maturity4.831%Jan 13, 2025Yield to maturity5.050%Jan 23, 2025Yield to maturity4.910%Feb 3, 2025Yield to maturity4.784%Feb 12, 2025Yield to maturity4.859%Feb 24, 2025Yield to maturity4.648%Mar 5, 2025Yield to maturity4.559%Mar 14, 2025Yield to maturity4.591%Mar 25, 2025Yield to maturity4.607%Apr 3, 2025Yield to maturity4.405%Apr 14, 2025Yield to maturity4.795%Apr 23, 2025Yield to maturity4.816%May 2, 2025Yield to maturity4.752%May 13, 2025Yield to maturity4.930%May 22, 2025Yield to maturity5.043%Jun 3, 2025Yield to maturity4.947%Jun 12, 2025Yield to maturity4.776%Jun 24, 2025Yield to maturity4.768%Jul 3, 2025Yield to maturity4.814%Jul 15, 2025Yield to maturity4.954%Jul 24, 2025Yield to maturity4.868%Aug 4, 2025Yield to maturity4.657%Aug 13, 2025Yield to maturity4.690%Aug 22, 2025Yield to maturity4.739%Sep 3, 2025Yield to maturity4.729%Sep 12, 2025Yield to maturity4.522%Sep 23, 2025Yield to maturity4.572%Oct 2, 2025Yield to maturity4.536%Oct 14, 2025Yield to maturity4.471%Oct 23, 2025Yield to maturity4.438%Nov 3, 2025Yield to maturity4.550%Nov 13, 2025Yield to maturity4.552%Nov 24, 2025Yield to maturity4.505%Dec 4, 2025Yield to maturity4.595%Dec 15, 2025Yield to maturity4.682%Dec 24, 2025Yield to maturity4.630%Jan 6, 2026Yield to maturity4.661%Jan 15, 2026Yield to maturity4.604%Jan 27, 2026Yield to maturity4.666%Feb 5, 2026Yield to maturity4.671%Feb 17, 2026Yield to maturity4.497%Feb 26, 2026Yield to maturity4.468%Mar 9, 2026Yield to maturity4.567%Mar 18, 2026Yield to maturity4.732%Mar 27, 2026Yield to maturity4.882%Apr 7, 2026Yield to maturity4.772%Apr 16, 2026Yield to maturity4.774%Apr 27, 2026Yield to maturity4.785%May 6, 2026Yield to maturity4.791%May 15, 2026Yield to maturity5.009%May 27, 2026Yield to maturity4.877%Jun 5, 2026Yield to maturity4.905%Jun 16, 2026Yield to maturity4.790%Jun 26, 2026Yield to maturity4.730%Jul 8, 2026Yield to maturity4.934%Jul 17, 2026Yield to maturity4.921%Jul 28, 2026Yield to maturity4.968%Aug 6, 2026Yield to maturity5.070%Aug 17, 2026Yield to maturity5.137%Aug 26, 2026Yield to maturity5.001%Sep 4, 2026Yield to maturity5.080%Sep 9, 2026Yield to maturity5.119%

Price history

1,508 trading days to Sep 9, 2026

5060708090100Aug 31, 2020Sep 9, 2026Aug 31, 2020Close97.656Sep 10, 2020Close98.406Sep 21, 2020Close98.469Sep 30, 2020Close98.156Oct 9, 2020Close96.313Oct 21, 2020Close95.500Oct 30, 2020Close94.875Nov 10, 2020Close93.219Nov 20, 2020Close96.656Dec 2, 2020Close93.781Dec 11, 2020Close95.063Dec 22, 2020Close94.625Jan 4, 2021Close94.500Jan 13, 2021Close91.719Jan 25, 2021Close92.000Feb 3, 2021Close90.125Feb 12, 2021Close88.563Feb 24, 2021Close84.844Mar 5, 2021Close83.125Mar 16, 2021Close81.625Mar 25, 2021Close82.313Apr 5, 2021Close81.813Apr 14, 2021Close82.656Apr 23, 2021Close83.906May 4, 2021Close83.656May 13, 2021Close81.906May 24, 2021Close82.844Jun 3, 2021Close82.813Jun 14, 2021Close84.281Jun 23, 2021Close85.375Jul 2, 2021Close86.344Jul 14, 2021Close87.438Jul 23, 2021Close88.438Aug 3, 2021Close89.844Aug 12, 2021Close87.438Aug 23, 2021Close89.656Sep 1, 2021Close88.844Sep 13, 2021Close88.969Sep 22, 2021Close89.719Oct 1, 2021Close86.500Oct 13, 2021Close86.313Oct 22, 2021Close85.344Nov 2, 2021Close86.594Nov 12, 2021Close86.594Nov 23, 2021Close85.125Dec 3, 2021Close89.625Dec 14, 2021Close88.281Dec 23, 2021Close87.250Jan 4, 2022Close84.969Jan 13, 2022Close84.906Jan 25, 2022Close83.906Feb 3, 2022Close83.656Feb 14, 2022Close81.563Feb 24, 2022Close81.219Mar 7, 2022Close82.531Mar 16, 2022Close78.844Mar 25, 2022Close76.563Apr 5, 2022Close76.656Apr 14, 2022Close72.313Apr 26, 2022Close73.063May 5, 2022Close69.406May 16, 2022Close70.219May 25, 2022Close71.844Jun 6, 2022Close68.844Jun 15, 2022Close66.469Jun 27, 2022Close67.375Jul 7, 2022Close68.813Jul 18, 2022Close69.531Jul 27, 2022Close70.750Aug 5, 2022Close70.281Aug 16, 2022Close70.031Aug 25, 2022Close68.156Sep 6, 2022Close65.406Sep 15, 2022Close65.000Sep 26, 2022Close62.125Oct 5, 2022Close62.063Oct 17, 2022Close60.000Oct 26, 2022Close59.313Nov 4, 2022Close58.438Nov 16, 2022Close62.656Nov 28, 2022Close63.438Dec 7, 2022Close66.625Dec 16, 2022Close66.063Dec 28, 2022Close62.125Jan 9, 2023Close65.500Jan 19, 2023Close66.938Jan 30, 2023Close65.906Feb 8, 2023Close65.156Feb 17, 2023Close63.688Mar 1, 2023Close62.094Mar 10, 2023Close65.313Mar 21, 2023Close65.219Mar 30, 2023Close65.438Apr 10, 2023Close66.813Apr 19, 2023Close65.094Apr 28, 2023Close66.438May 9, 2023Close65.000May 18, 2023Close64.031May 30, 2023Close63.844Jun 8, 2023Close64.250Jun 20, 2023Close64.625Jun 29, 2023Close63.656Jul 11, 2023Close62.563Jul 20, 2023Close63.750Jul 31, 2023Close62.688Aug 9, 2023Close61.844Aug 18, 2023Close59.813Aug 29, 2023Close61.125Sep 8, 2023Close60.188Sep 19, 2023Close59.281Sep 28, 2023Close56.750Oct 10, 2023Close55.688Oct 19, 2023Close53.438Oct 30, 2023Close54.250Nov 8, 2023Close57.719Nov 17, 2023Close58.000Nov 29, 2023Close59.344Dec 8, 2023Close60.563Dec 19, 2023Close63.219Dec 29, 2023Close63.813Jan 10, 2024Close62.375Jan 22, 2024Close61.563Jan 31, 2024Close62.594Feb 9, 2024Close61.031Feb 21, 2024Close60.000Mar 1, 2024Close61.500Mar 12, 2024Close62.000Mar 21, 2024Close60.875Apr 1, 2024Close60.688Apr 10, 2024Close59.156Apr 19, 2024Close58.625Apr 30, 2024Close58.188May 9, 2024Close59.938May 20, 2024Close60.188May 30, 2024Close59.375Jun 10, 2024Close60.344Jun 20, 2024Close62.156Jul 1, 2024Close59.781Jul 11, 2024Close62.188Jul 22, 2024Close61.625Jul 31, 2024Close63.125Aug 9, 2024Close64.094Aug 20, 2024Close65.219Aug 29, 2024Close64.625Sep 10, 2024Close66.719Sep 19, 2024Close65.875Sep 30, 2024Close65.375Oct 9, 2024Close63.313Oct 21, 2024Close62.094Oct 30, 2024Close61.688Nov 8, 2024Close61.719Nov 20, 2024Close60.969Dec 2, 2024Close63.000Dec 11, 2024Close62.125Dec 20, 2024Close60.000Jan 2, 2025Close59.688Jan 13, 2025Close58.000Jan 23, 2025Close59.156Feb 3, 2025Close60.219Feb 12, 2025Close59.656Feb 24, 2025Close61.438Mar 5, 2025Close62.219Mar 14, 2025Close62.000Mar 25, 2025Close61.906Apr 3, 2025Close63.656Apr 14, 2025Close60.469Apr 23, 2025Close60.344May 2, 2025Close60.906May 13, 2025Close59.531May 22, 2025Close58.688Jun 3, 2025Close59.500Jun 12, 2025Close60.906Jun 24, 2025Close61.031Jul 3, 2025Close60.719Jul 15, 2025Close59.656Jul 24, 2025Close60.375Aug 4, 2025Close62.125Aug 13, 2025Close61.906Aug 22, 2025Close61.563Sep 3, 2025Close61.688Sep 12, 2025Close63.438Sep 23, 2025Close63.063Oct 2, 2025Close63.406Oct 14, 2025Close64.000Oct 23, 2025Close64.313Nov 3, 2025Close63.438Nov 13, 2025Close63.469Nov 24, 2025Close63.906Dec 4, 2025Close63.219Dec 15, 2025Close62.563Dec 24, 2025Close63.031Jan 6, 2026Close62.844Jan 15, 2026Close63.344Jan 27, 2026Close62.906Feb 5, 2026Close62.906Feb 17, 2026Close64.375Feb 26, 2026Close64.656Mar 9, 2026Close63.906Mar 18, 2026Close62.625Mar 27, 2026Close61.500Apr 7, 2026Close62.406Apr 16, 2026Close62.438Apr 27, 2026Close62.406May 6, 2026Close62.406May 15, 2026Close60.781May 27, 2026Close61.844Jun 5, 2026Close61.688Jun 16, 2026Close62.625Jun 26, 2026Close63.156Jul 8, 2026Close61.625Jul 17, 2026Close61.781Jul 28, 2026Close61.469Aug 6, 2026Close60.750Aug 17, 2026Close60.313Aug 26, 2026Close61.375Sep 4, 2026Close60.844Sep 9, 2026Close60.563
The most recent 20 trading days of prices for 912810SQ2.
DateBidOfferClose
Sep 9, 202660.45360.37560.563
Sep 8, 202660.87560.81360.750
Sep 4, 202660.93860.87560.844
Sep 3, 202661.01660.96960.844
Sep 2, 202660.64160.59460.625
Sep 1, 202660.84460.78160.594
Aug 31, 202660.79760.71960.813
Aug 28, 202661.31361.25061.031
Aug 27, 202661.46961.40661.281
Aug 26, 202661.43861.37561.375
Aug 25, 202661.50061.43861.500
Aug 24, 202661.15661.09461.000
Aug 21, 202660.79760.75060.688
Aug 20, 202660.95360.90661.000
Aug 19, 202661.18861.12561.250
Aug 18, 202660.45360.40660.469
Aug 17, 202660.54760.50060.313
Aug 14, 202660.67260.62560.625
Aug 13, 202661.01660.96961.000
Aug 12, 202660.79760.75060.625

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 912810SQ2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 19, 2020Aug 31, 2020New issue$25.0bn$27.2bn2.26x1.185%
Sep 15, 2020Sep 30, 2020Reopening$22.0bn$25.0bn2.39x1.213%
Oct 21, 2020Nov 2, 2020Reopening$22.0bn$24.3bn2.43x1.370%

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.