Treasury bond

912810SR0 · 1.125% due May 15, 2040

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

Statement of August 31, 2026

Amount outstanding
$55.39bn
Held stripped
$324.6m
Share stripped
0.59%

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
5.097%
Modified duration
11.981 yr
DV01
0.0738
Convexity
160.341
Dirty price
61.579

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 12.258 years against a modified duration of 11.981.

Against the fitted curve

Priced 2.5 bp rich to the curve on that day, 18.80 cents per 100 of face.

That is -1.61 standard deviations from its own typical residual.

Yield to maturity, 1,572 observations

0%1%2%3%4%5%6%Jun 1, 2020Sep 9, 2026Jun 1, 2020Yield to maturity1.217%Jun 10, 2020Yield to maturity1.302%Jun 19, 2020Yield to maturity1.230%Jun 30, 2020Yield to maturity1.178%Jul 10, 2020Yield to maturity1.113%Jul 21, 2020Yield to maturity1.078%Jul 30, 2020Yield to maturity0.974%Aug 10, 2020Yield to maturity1.027%Aug 19, 2020Yield to maturity1.168%Aug 28, 2020Yield to maturity1.271%Sep 9, 2020Yield to maturity1.222%Sep 18, 2020Yield to maturity1.213%Sep 29, 2020Yield to maturity1.170%Oct 8, 2020Yield to maturity1.312%Oct 20, 2020Yield to maturity1.347%Oct 29, 2020Yield to maturity1.370%Nov 9, 2020Yield to maturity1.490%Nov 19, 2020Yield to maturity1.348%Dec 1, 2020Yield to maturity1.435%Dec 10, 2020Yield to maturity1.417%Dec 21, 2020Yield to maturity1.459%Dec 31, 2020Yield to maturity1.429%Jan 12, 2021Yield to maturity1.664%Jan 22, 2021Yield to maturity1.644%Feb 2, 2021Yield to maturity1.671%Feb 11, 2021Yield to maturity1.753%Feb 23, 2021Yield to maturity2.024%Mar 4, 2021Yield to maturity2.182%Mar 15, 2021Yield to maturity2.282%Mar 24, 2021Yield to maturity2.213%Apr 2, 2021Yield to maturity2.280%Apr 13, 2021Yield to maturity2.214%Apr 22, 2021Yield to maturity2.126%May 3, 2021Yield to maturity2.177%May 12, 2021Yield to maturity2.286%May 21, 2021Yield to maturity2.244%Jun 2, 2021Yield to maturity2.207%Jun 11, 2021Yield to maturity2.078%Jun 22, 2021Yield to maturity2.035%Jul 1, 2021Yield to maturity2.006%Jul 13, 2021Yield to maturity1.951%Jul 22, 2021Yield to maturity1.805%Aug 2, 2021Yield to maturity1.756%Aug 11, 2021Yield to maturity1.888%Aug 20, 2021Yield to maturity1.758%Aug 31, 2021Yield to maturity1.815%Sep 10, 2021Yield to maturity1.833%Sep 21, 2021Yield to maturity1.771%Sep 30, 2021Yield to maturity2.001%Oct 12, 2021Yield to maturity2.038%Oct 21, 2021Yield to maturity2.096%Nov 1, 2021Yield to maturity2.022%Nov 10, 2021Yield to maturity1.955%Nov 22, 2021Yield to maturity2.027%Dec 2, 2021Yield to maturity1.847%Dec 13, 2021Yield to maturity1.844%Dec 22, 2021Yield to maturity1.879%Jan 3, 2022Yield to maturity2.043%Jan 12, 2022Yield to maturity2.132%Jan 24, 2022Yield to maturity2.152%Feb 2, 2022Yield to maturity2.165%Feb 11, 2022Yield to maturity2.303%Feb 23, 2022Yield to maturity2.373%Mar 4, 2022Yield to maturity2.224%Mar 15, 2022Yield to maturity2.558%Mar 24, 2022Yield to maturity2.632%Apr 4, 2022Yield to maturity2.647%Apr 13, 2022Yield to maturity2.987%Apr 25, 2022Yield to maturity3.076%May 4, 2022Yield to maturity3.224%May 13, 2022Yield to maturity3.326%May 24, 2022Yield to maturity3.169%Jun 3, 2022Yield to maturity3.338%Jun 14, 2022Yield to maturity3.742%Jun 24, 2022Yield to maturity3.515%Jul 6, 2022Yield to maturity3.390%Jul 15, 2022Yield to maturity3.319%Jul 26, 2022Yield to maturity3.276%Aug 4, 2022Yield to maturity3.183%Aug 15, 2022Yield to maturity3.331%Aug 24, 2022Yield to maturity3.594%Sep 2, 2022Yield to maturity3.640%Sep 14, 2022Yield to maturity3.775%Sep 23, 2022Yield to maturity3.977%Oct 4, 2022Yield to maturity4.032%Oct 14, 2022Yield to maturity4.333%Oct 25, 2022Yield to maturity4.521%Nov 3, 2022Yield to maturity4.486%Nov 15, 2022Yield to maturity4.231%Nov 25, 2022Yield to maturity4.022%Dec 6, 2022Yield to maturity3.809%Dec 15, 2022Yield to maturity3.713%Dec 27, 2022Yield to maturity4.139%Jan 6, 2023Yield to maturity3.853%Jan 18, 2023Yield to maturity3.663%Jan 27, 2023Yield to maturity3.792%Feb 7, 2023Yield to maturity3.883%Feb 16, 2023Yield to maturity4.078%Feb 28, 2023Yield to maturity4.136%Mar 9, 2023Yield to maturity4.100%Mar 20, 2023Yield to maturity3.817%Mar 29, 2023Yield to maturity3.910%Apr 7, 2023Yield to maturity3.718%Apr 18, 2023Yield to maturity3.889%Apr 27, 2023Yield to maturity3.861%May 8, 2023Yield to maturity3.907%May 17, 2023Yield to maturity3.956%May 26, 2023Yield to maturity4.142%Jun 7, 2023Yield to maturity4.079%Jun 16, 2023Yield to maturity4.022%Jun 28, 2023Yield to maturity3.957%Jul 10, 2023Yield to maturity4.232%Jul 19, 2023Yield to maturity3.995%Jul 28, 2023Yield to maturity4.203%Aug 8, 2023Yield to maturity4.317%Aug 17, 2023Yield to maturity4.558%Aug 28, 2023Yield to maturity4.457%Sep 7, 2023Yield to maturity4.526%Sep 18, 2023Yield to maturity4.560%Sep 27, 2023Yield to maturity4.926%Oct 6, 2023Yield to maturity5.160%Oct 18, 2023Yield to maturity5.241%Oct 27, 2023Yield to maturity5.232%Nov 7, 2023Yield to maturity4.918%Nov 16, 2023Yield to maturity4.820%Nov 28, 2023Yield to maturity4.729%Dec 7, 2023Yield to maturity4.435%Dec 18, 2023Yield to maturity4.213%Dec 28, 2023Yield to maturity4.078%Jan 9, 2024Yield to maturity4.272%Jan 19, 2024Yield to maturity4.443%Jan 30, 2024Yield to maturity4.355%Feb 8, 2024Yield to maturity4.460%Feb 20, 2024Yield to maturity4.553%Feb 29, 2024Yield to maturity4.485%Mar 11, 2024Yield to maturity4.309%Mar 20, 2024Yield to maturity4.513%Mar 29, 2024Yield to maturity4.404%Apr 9, 2024Yield to maturity4.553%Apr 18, 2024Yield to maturity4.823%Apr 29, 2024Yield to maturity4.807%May 8, 2024Yield to maturity4.672%May 17, 2024Yield to maturity4.600%May 29, 2024Yield to maturity4.789%Jun 7, 2024Yield to maturity4.571%Jun 18, 2024Yield to maturity4.365%Jun 28, 2024Yield to maturity4.537%Jul 10, 2024Yield to maturity4.499%Jul 19, 2024Yield to maturity4.472%Jul 30, 2024Yield to maturity4.389%Aug 8, 2024Yield to maturity4.276%Aug 19, 2024Yield to maturity4.134%Aug 28, 2024Yield to maturity4.139%Sep 9, 2024Yield to maturity3.986%Sep 18, 2024Yield to maturity4.004%Sep 27, 2024Yield to maturity4.057%Oct 8, 2024Yield to maturity4.317%Oct 18, 2024Yield to maturity4.374%Oct 29, 2024Yield to maturity4.551%Nov 7, 2024Yield to maturity4.582%Nov 19, 2024Yield to maturity4.611%Nov 29, 2024Yield to maturity4.414%Dec 10, 2024Yield to maturity4.444%Dec 19, 2024Yield to maturity4.823%Dec 31, 2024Yield to maturity4.823%Jan 10, 2025Yield to maturity5.019%Jan 22, 2025Yield to maturity4.851%Jan 31, 2025Yield to maturity4.834%Feb 11, 2025Yield to maturity4.739%Feb 21, 2025Yield to maturity4.643%Mar 4, 2025Yield to maturity4.483%Mar 13, 2025Yield to maturity4.548%Mar 24, 2025Yield to maturity4.607%Apr 2, 2025Yield to maturity4.477%Apr 11, 2025Yield to maturity4.858%Apr 22, 2025Yield to maturity4.856%May 1, 2025Yield to maturity4.671%May 12, 2025Yield to maturity4.853%May 21, 2025Yield to maturity5.050%Jun 2, 2025Yield to maturity4.933%Jun 11, 2025Yield to maturity4.832%Jun 23, 2025Yield to maturity4.780%Jul 2, 2025Yield to maturity4.750%Jul 14, 2025Yield to maturity4.884%Jul 23, 2025Yield to maturity4.834%Aug 1, 2025Yield to maturity4.649%Aug 12, 2025Yield to maturity4.724%Aug 21, 2025Yield to maturity4.773%Sep 2, 2025Yield to maturity4.772%Sep 11, 2025Yield to maturity4.451%Sep 22, 2025Yield to maturity4.583%Oct 1, 2025Yield to maturity4.538%Oct 10, 2025Yield to maturity4.473%Oct 22, 2025Yield to maturity4.373%Oct 31, 2025Yield to maturity4.500%Nov 12, 2025Yield to maturity4.491%Nov 21, 2025Yield to maturity4.512%Dec 3, 2025Yield to maturity4.522%Dec 12, 2025Yield to maturity4.679%Dec 23, 2025Yield to maturity4.634%Jan 5, 2026Yield to maturity4.623%Jan 14, 2026Yield to maturity4.566%Jan 26, 2026Yield to maturity4.612%Feb 4, 2026Yield to maturity4.716%Feb 13, 2026Yield to maturity4.479%Feb 25, 2026Yield to maturity4.476%Mar 6, 2026Yield to maturity4.579%Mar 17, 2026Yield to maturity4.659%Mar 26, 2026Yield to maturity4.824%Apr 6, 2026Yield to maturity4.747%Apr 15, 2026Yield to maturity4.710%Apr 24, 2026Yield to maturity4.733%May 5, 2026Yield to maturity4.835%May 14, 2026Yield to maturity4.857%May 26, 2026Yield to maturity4.877%Jun 4, 2026Yield to maturity4.826%Jun 15, 2026Yield to maturity4.818%Jun 25, 2026Yield to maturity4.711%Jul 7, 2026Yield to maturity4.889%Jul 16, 2026Yield to maturity4.924%Jul 27, 2026Yield to maturity4.990%Aug 5, 2026Yield to maturity5.000%Aug 14, 2026Yield to maturity5.071%Aug 25, 2026Yield to maturity4.960%Sep 3, 2026Yield to maturity5.058%Sep 9, 2026Yield to maturity5.097%

Price history

1,572 trading days to Sep 9, 2026

5060708090100110Jun 1, 2020Sep 9, 2026Jun 1, 2020Close98.375Jun 10, 2020Close96.906Jun 19, 2020Close98.156Jun 30, 2020Close99.063Jul 10, 2020Close100.219Jul 21, 2020Close100.844Jul 30, 2020Close102.719Aug 10, 2020Close101.750Aug 19, 2020Close99.250Aug 28, 2020Close97.469Sep 9, 2020Close98.313Sep 18, 2020Close98.469Sep 29, 2020Close99.219Oct 8, 2020Close96.781Oct 20, 2020Close96.188Oct 29, 2020Close95.813Nov 9, 2020Close93.844Nov 19, 2020Close96.188Dec 1, 2020Close94.750Dec 10, 2020Close95.063Dec 21, 2020Close94.375Dec 31, 2020Close94.875Jan 12, 2021Close91.125Jan 22, 2021Close91.438Feb 2, 2021Close91.031Feb 11, 2021Close89.781Feb 23, 2021Close85.750Mar 4, 2021Close83.500Mar 15, 2021Close82.125Mar 24, 2021Close83.094Apr 2, 2021Close82.188Apr 13, 2021Close83.125Apr 22, 2021Close84.375May 3, 2021Close83.688May 12, 2021Close82.188May 21, 2021Close82.781Jun 2, 2021Close83.313Jun 11, 2021Close85.156Jun 22, 2021Close85.781Jul 1, 2021Close86.219Jul 13, 2021Close87.031Jul 22, 2021Close89.188Aug 2, 2021Close89.938Aug 11, 2021Close88.000Aug 20, 2021Close89.938Aug 31, 2021Close89.094Sep 10, 2021Close88.844Sep 21, 2021Close89.781Sep 30, 2021Close86.438Oct 12, 2021Close85.938Oct 21, 2021Close85.125Nov 1, 2021Close86.188Nov 10, 2021Close87.156Nov 22, 2021Close86.156Dec 2, 2021Close88.750Dec 13, 2021Close88.813Dec 22, 2021Close88.313Jan 3, 2022Close86.000Jan 12, 2022Close84.781Jan 24, 2022Close84.531Feb 2, 2022Close84.375Feb 11, 2022Close82.531Feb 23, 2022Close81.625Mar 4, 2022Close83.625Mar 15, 2022Close79.281Mar 24, 2022Close78.375Apr 4, 2022Close78.219Apr 13, 2022Close74.125Apr 25, 2022Close73.125May 4, 2022Close71.469May 13, 2022Close70.375May 24, 2022Close72.156Jun 3, 2022Close70.313Jun 14, 2022Close66.063Jun 24, 2022Close68.469Jul 6, 2022Close69.844Jul 15, 2022Close70.656Jul 26, 2022Close71.156Aug 4, 2022Close72.219Aug 15, 2022Close70.625Aug 24, 2022Close67.844Sep 2, 2022Close67.406Sep 14, 2022Close66.063Sep 23, 2022Close64.094Oct 4, 2022Close63.594Oct 14, 2022Close60.813Oct 25, 2022Close59.156Nov 3, 2022Close59.500Nov 15, 2022Close61.875Nov 25, 2022Close63.906Dec 6, 2022Close66.031Dec 15, 2022Close67.031Dec 27, 2022Close62.906Jan 6, 2023Close65.719Jan 18, 2023Close67.656Jan 27, 2023Close66.406Feb 7, 2023Close65.531Feb 16, 2023Close63.688Feb 28, 2023Close63.188Mar 9, 2023Close63.563Mar 20, 2023Close66.344Mar 29, 2023Close65.469Apr 7, 2023Close67.406Apr 18, 2023Close65.750Apr 27, 2023Close66.063May 8, 2023Close65.656May 17, 2023Close65.219May 26, 2023Close63.500Jun 7, 2023Close64.125Jun 16, 2023Close64.719Jun 28, 2023Close65.375Jul 10, 2023Close62.844Jul 19, 2023Close65.094Jul 28, 2023Close63.188Aug 8, 2023Close62.188Aug 17, 2023Close60.094Aug 28, 2023Close61.031Sep 7, 2023Close60.469Sep 18, 2023Close60.219Sep 27, 2023Close57.188Oct 6, 2023Close55.375Oct 18, 2023Close54.781Oct 27, 2023Close54.906Nov 7, 2023Close57.438Nov 16, 2023Close58.281Nov 28, 2023Close59.094Dec 7, 2023Close61.656Dec 18, 2023Close63.688Dec 28, 2023Close64.969Jan 9, 2024Close63.250Jan 19, 2024Close61.781Jan 30, 2024Close62.594Feb 8, 2024Close61.719Feb 20, 2024Close60.969Feb 29, 2024Close61.594Mar 11, 2024Close63.188Mar 20, 2024Close61.438Mar 29, 2024Close62.438Apr 9, 2024Close61.188Apr 18, 2024Close58.969Apr 29, 2024Close59.156May 8, 2024Close60.313May 17, 2024Close60.969May 29, 2024Close59.438Jun 7, 2024Close61.313Jun 18, 2024Close63.125Jun 28, 2024Close61.688Jul 10, 2024Close62.063Jul 19, 2024Close62.344Jul 30, 2024Close63.094Aug 8, 2024Close64.125Aug 19, 2024Close65.438Aug 28, 2024Close65.438Sep 9, 2024Close66.875Sep 18, 2024Close66.750Sep 27, 2024Close66.313Oct 8, 2024Close64.031Oct 18, 2024Close63.594Oct 29, 2024Close62.125Nov 7, 2024Close61.906Nov 19, 2024Close61.719Nov 29, 2024Close63.438Dec 10, 2024Close63.219Dec 19, 2024Close60.125Dec 31, 2024Close60.188Jan 10, 2025Close58.688Jan 22, 2025Close60.063Jan 31, 2025Close60.250Feb 11, 2025Close61.063Feb 21, 2025Close61.906Mar 4, 2025Close63.281Mar 13, 2025Close62.781Mar 24, 2025Close62.344Apr 2, 2025Close63.469Apr 11, 2025Close60.406Apr 22, 2025Close60.469May 1, 2025Close62.000May 12, 2025Close60.594May 21, 2025Close59.094Jun 2, 2025Close60.063Jun 11, 2025Close60.906Jun 23, 2025Close61.375Jul 2, 2025Close61.656Jul 14, 2025Close60.656Jul 23, 2025Close61.094Aug 1, 2025Close62.625Aug 12, 2025Close62.063Aug 21, 2025Close61.719Sep 2, 2025Close61.781Sep 11, 2025Close64.438Sep 22, 2025Close63.406Oct 1, 2025Close63.813Oct 10, 2025Close64.406Oct 22, 2025Close65.281Oct 31, 2025Close64.281Nov 12, 2025Close64.406Nov 21, 2025Close64.281Dec 3, 2025Close64.250Dec 12, 2025Close63.031Dec 23, 2025Close63.438Jan 5, 2026Close63.594Jan 14, 2026Close64.094Jan 26, 2026Close63.781Feb 4, 2026Close63.000Feb 13, 2026Close64.969Feb 25, 2026Close65.031Mar 6, 2026Close64.250Mar 17, 2026Close63.656Mar 26, 2026Close62.406Apr 6, 2026Close63.063Apr 15, 2026Close63.406Apr 24, 2026Close63.281May 5, 2026Close62.531May 14, 2026Close62.406May 26, 2026Close62.313Jun 4, 2026Close62.750Jun 15, 2026Close62.875Jun 25, 2026Close63.750Jul 7, 2026Close62.438Jul 16, 2026Close62.219Jul 27, 2026Close61.781Aug 5, 2026Close61.750Aug 14, 2026Close61.281Aug 25, 2026Close62.156Sep 3, 2026Close61.469Sep 9, 2026Close61.219
The most recent 20 trading days of prices for 912810SR0.
DateBidOfferClose
Sep 9, 202661.10961.03161.219
Sep 8, 202661.53161.46961.375
Sep 4, 202661.57861.50061.469
Sep 3, 202661.65661.59461.469
Sep 2, 202661.31361.25061.281
Sep 1, 202661.53161.46961.250
Aug 31, 202661.46961.40661.500
Aug 28, 202661.98461.90661.688
Aug 27, 202662.14162.06361.969
Aug 26, 202662.12562.06362.031
Aug 25, 202662.18862.12562.156
Aug 24, 202661.85961.78161.688
Aug 21, 202661.46961.40661.375
Aug 20, 202661.59461.53161.656
Aug 19, 202661.84461.78161.906
Aug 18, 202661.12561.06361.125
Aug 17, 202661.21961.15661.000
Aug 14, 202661.34461.28161.281
Aug 13, 202661.68861.62561.625
Aug 12, 202661.45361.37561.281

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 912810SR0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 20, 2020Jun 1, 2020New issue$20.0bn$22.1bn2.53x1.220%
Jun 17, 2020Jun 30, 2020Reopening$17.0bn$19.3bn2.63x1.314%
Jul 22, 2020Jul 31, 2020Reopening$17.0bn$18.9bn2.43x1.059%

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.