Inflation-linked (TIPS)

912810SV1 · 0.125% due February 15, 2051

Original term
30-Year
Maturity
Feb 15, 2051
Coupon
0.125%
Pays
Semi-Annual
Dated
Feb 15, 2021
First coupon
Aug 15, 2021
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$22.49bn
Held stripped
$0.0m
Share stripped
0.00%

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. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, September 9, 2026

An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.

Real yield
3.016%
Index ratio
1.2827
Real duration
23.496 yr
DV01
0.1182
Convexity
572.926
Real clean price
50.281
Accrued (real)
0.009
Real dirty price
50.290
Indexed principal
128.266
Money clean price
64.494

The index ratio is a multiplier, not a percentage: 1.2827 means the principal is worth that many times its original face today. So the real clean price of 50.281 is not what a buyer pays , multiply by the ratio to get 64.494 per 100 of original face.

Against the fitted real curve

Priced 5.2 bp rich to the real curve on that day, 61.74 cents per 100 of face.

Not scored against its own history. A linker needs twenty observations before a score means anything.

Real yield, 1,387 observations

-1%0%1%2%3%4%Feb 26, 2021Sep 9, 2026Feb 26, 2021Real yield0.057%Mar 8, 2021Real yield0.147%Mar 16, 2021Real yield0.138%Mar 24, 2021Real yield0.026%Apr 1, 2021Real yield0.071%Apr 9, 2021Real yield0.143%Apr 19, 2021Real yield0.047%Apr 27, 2021Real yield-0.007%May 5, 2021Real yield-0.050%May 13, 2021Real yield0.029%May 21, 2021Real yield0.031%Jun 1, 2021Real yield-0.054%Jun 9, 2021Real yield-0.111%Jun 17, 2021Real yield-0.148%Jun 25, 2021Real yield-0.129%Jul 6, 2021Real yield-0.257%Jul 14, 2021Real yield-0.249%Jul 22, 2021Real yield-0.289%Jul 30, 2021Real yield-0.347%Aug 9, 2021Real yield-0.284%Aug 17, 2021Real yield-0.275%Aug 25, 2021Real yield-0.263%Sep 2, 2021Real yield-0.311%Sep 13, 2021Real yield-0.345%Sep 21, 2021Real yield-0.328%Sep 29, 2021Real yield-0.175%Oct 7, 2021Real yield-0.202%Oct 18, 2021Real yield-0.342%Oct 26, 2021Real yield-0.374%Nov 3, 2021Real yield-0.304%Nov 12, 2021Real yield-0.512%Nov 22, 2021Real yield-0.414%Dec 1, 2021Real yield-0.500%Dec 9, 2021Real yield-0.426%Dec 17, 2021Real yield-0.388%Dec 28, 2021Real yield-0.426%Jan 5, 2022Real yield-0.213%Jan 13, 2022Real yield-0.178%Jan 24, 2022Real yield-0.131%Feb 1, 2022Real yield-0.093%Feb 9, 2022Real yield0.049%Feb 17, 2022Real yield0.190%Feb 28, 2022Real yield-0.108%Mar 8, 2022Real yield-0.300%Mar 16, 2022Real yield0.006%Mar 24, 2022Real yield0.007%Apr 1, 2022Real yield0.034%Apr 11, 2022Real yield0.316%Apr 20, 2022Real yield0.323%Apr 28, 2022Real yield0.336%May 6, 2022Real yield0.681%May 16, 2022Real yield0.642%May 24, 2022Real yield0.682%Jun 2, 2022Real yield0.677%Jun 10, 2022Real yield0.730%Jun 21, 2022Real yield0.967%Jun 29, 2022Real yield1.044%Jul 8, 2022Real yield1.096%Jul 18, 2022Real yield0.967%Jul 26, 2022Real yield0.914%Aug 3, 2022Real yield0.784%Aug 11, 2022Real yield0.986%Aug 19, 2022Real yield0.949%Aug 29, 2022Real yield0.971%Sep 7, 2022Real yield1.137%Sep 15, 2022Real yield1.252%Sep 23, 2022Real yield1.446%Oct 3, 2022Real yield1.683%Oct 12, 2022Real yield1.795%Oct 20, 2022Real yield1.840%Oct 28, 2022Real yield1.726%Nov 7, 2022Real yield1.850%Nov 16, 2022Real yield1.591%Nov 25, 2022Real yield1.500%Dec 5, 2022Real yield1.301%Dec 13, 2022Real yield1.366%Dec 21, 2022Real yield1.548%Dec 30, 2022Real yield1.741%Jan 10, 2023Real yield1.526%Jan 19, 2023Real yield1.396%Jan 27, 2023Real yield1.371%Feb 6, 2023Real yield1.519%Feb 14, 2023Real yield1.580%Feb 23, 2023Real yield1.595%Mar 3, 2023Real yield1.528%Mar 13, 2023Real yield1.490%Mar 21, 2023Real yield1.552%Mar 29, 2023Real yield1.538%Apr 6, 2023Real yield1.378%Apr 14, 2023Real yield1.490%Apr 24, 2023Real yield1.506%May 2, 2023Real yield1.558%May 10, 2023Real yield1.609%May 18, 2023Real yield1.656%May 26, 2023Real yield1.670%Jun 6, 2023Real yield1.655%Jun 14, 2023Real yield1.683%Jun 23, 2023Real yield1.604%Jul 3, 2023Real yield1.629%Jul 12, 2023Real yield1.696%Jul 20, 2023Real yield1.642%Jul 28, 2023Real yield1.745%Aug 7, 2023Real yield1.919%Aug 15, 2023Real yield2.042%Aug 23, 2023Real yield1.943%Aug 31, 2023Real yield1.969%Sep 11, 2023Real yield2.045%Sep 19, 2023Real yield2.093%Sep 27, 2023Real yield2.366%Oct 5, 2023Real yield2.499%Oct 16, 2023Real yield2.450%Oct 24, 2023Real yield2.483%Nov 1, 2023Real yield2.454%Nov 9, 2023Real yield2.318%Nov 17, 2023Real yield2.250%Nov 28, 2023Real yield2.225%Dec 6, 2023Real yield2.034%Dec 14, 2023Real yield1.832%Dec 22, 2023Real yield1.909%Jan 3, 2024Real yield1.909%Jan 11, 2024Real yield1.997%Jan 22, 2024Real yield2.043%Jan 30, 2024Real yield2.052%Feb 7, 2024Real yield2.094%Feb 15, 2024Real yield2.171%Feb 26, 2024Real yield2.140%Mar 5, 2024Real yield1.980%Mar 13, 2024Real yield2.091%Mar 21, 2024Real yield2.153%Mar 29, 2024Real yield2.084%Apr 8, 2024Real yield2.233%Apr 16, 2024Real yield2.415%Apr 24, 2024Real yield2.415%May 2, 2024Real yield2.367%May 10, 2024Real yield2.281%May 20, 2024Real yield2.226%May 29, 2024Real yield2.355%Jun 6, 2024Real yield2.120%Jun 14, 2024Real yield2.104%Jun 25, 2024Real yield2.101%Jul 3, 2024Real yield2.218%Jul 12, 2024Real yield2.105%Jul 22, 2024Real yield2.162%Jul 30, 2024Real yield2.135%Aug 7, 2024Real yield2.098%Aug 15, 2024Real yield2.031%Aug 23, 2024Real yield1.946%Sep 3, 2024Real yield1.975%Sep 11, 2024Real yield1.872%Sep 19, 2024Real yield1.866%Sep 27, 2024Real yield1.910%Oct 7, 2024Real yield2.041%Oct 16, 2024Real yield2.035%Oct 24, 2024Real yield2.165%Nov 1, 2024Real yield2.247%Nov 12, 2024Real yield2.268%Nov 20, 2024Real yield2.276%Nov 29, 2024Real yield2.142%Dec 9, 2024Real yield2.162%Dec 17, 2024Real yield2.314%Dec 26, 2024Real yield2.428%Jan 6, 2025Real yield2.530%Jan 14, 2025Real yield2.602%Jan 23, 2025Real yield2.482%Jan 31, 2025Real yield2.439%Feb 10, 2025Real yield2.337%Feb 19, 2025Real yield2.388%Feb 27, 2025Real yield2.285%Mar 7, 2025Real yield2.350%Mar 17, 2025Real yield2.365%Mar 25, 2025Real yield2.387%Apr 2, 2025Real yield2.317%Apr 10, 2025Real yield2.712%Apr 18, 2025Real yield2.617%Apr 28, 2025Real yield2.515%May 6, 2025Real yield2.584%May 14, 2025Real yield2.668%May 22, 2025Real yield2.748%Jun 2, 2025Real yield2.700%Jun 10, 2025Real yield2.683%Jun 18, 2025Real yield2.626%Jun 27, 2025Real yield2.598%Jul 8, 2025Real yield2.669%Jul 16, 2025Real yield2.690%Jul 24, 2025Real yield2.642%Aug 1, 2025Real yield2.600%Aug 11, 2025Real yield2.590%Aug 19, 2025Real yield2.676%Aug 27, 2025Real yield2.647%Sep 5, 2025Real yield2.553%Sep 15, 2025Real yield2.440%Sep 23, 2025Real yield2.504%Oct 1, 2025Real yield2.506%Oct 9, 2025Real yield2.496%Oct 20, 2025Real yield2.411%Oct 28, 2025Real yield2.346%Nov 5, 2025Real yield2.529%Nov 14, 2025Real yield2.531%Nov 24, 2025Real yield2.520%Dec 3, 2025Real yield2.543%Dec 11, 2025Real yield2.592%Dec 19, 2025Real yield2.632%Dec 30, 2025Real yield2.618%Jan 8, 2026Real yield2.644%Jan 16, 2026Real yield2.597%Jan 27, 2026Real yield2.576%Feb 4, 2026Real yield2.659%Feb 12, 2026Real yield2.496%Feb 23, 2026Real yield2.506%Mar 3, 2026Real yield2.506%Mar 11, 2026Real yield2.637%Mar 19, 2026Real yield2.623%Mar 27, 2026Real yield2.804%Apr 6, 2026Real yield2.678%Apr 14, 2026Real yield2.644%Apr 22, 2026Real yield2.675%Apr 30, 2026Real yield2.739%May 8, 2026Real yield2.697%May 18, 2026Real yield2.854%May 27, 2026Real yield2.754%Jun 4, 2026Real yield2.736%Jun 12, 2026Real yield2.756%Jun 23, 2026Real yield2.786%Jul 1, 2026Real yield2.806%Jul 10, 2026Real yield2.893%Jul 20, 2026Real yield2.947%Jul 28, 2026Real yield2.973%Aug 5, 2026Real yield3.013%Aug 13, 2026Real yield3.020%Aug 21, 2026Real yield3.045%Aug 31, 2026Real yield3.029%Sep 9, 2026Real yield3.016%

Price history

1,387 trading days to Sep 9, 2026

406080100120140Feb 26, 2021Sep 9, 2026Feb 26, 2021Close102.031Mar 8, 2021Close99.344Mar 16, 2021Close99.625Mar 24, 2021Close102.938Apr 1, 2021Close101.594Apr 9, 2021Close99.469Apr 19, 2021Close102.313Apr 27, 2021Close103.938May 5, 2021Close105.250May 13, 2021Close102.844May 21, 2021Close102.781Jun 1, 2021Close105.375Jun 9, 2021Close107.125Jun 17, 2021Close108.281Jun 25, 2021Close107.688Jul 6, 2021Close111.750Jul 14, 2021Close111.500Jul 22, 2021Close112.781Jul 30, 2021Close114.688Aug 9, 2021Close112.594Aug 17, 2021Close112.281Aug 25, 2021Close111.906Sep 2, 2021Close113.469Sep 13, 2021Close114.563Sep 21, 2021Close114.000Sep 29, 2021Close109.063Oct 7, 2021Close109.906Oct 18, 2021Close114.406Oct 26, 2021Close115.469Nov 3, 2021Close113.156Nov 12, 2021Close120.125Nov 22, 2021Close116.750Dec 1, 2021Close119.688Dec 9, 2021Close117.156Dec 17, 2021Close115.844Dec 28, 2021Close117.094Jan 5, 2022Close110.156Jan 13, 2022Close109.063Jan 24, 2022Close107.594Feb 1, 2022Close106.406Feb 9, 2022Close102.188Feb 17, 2022Close98.156Feb 28, 2022Close106.844Mar 8, 2022Close112.844Mar 16, 2022Close103.438Mar 24, 2022Close103.406Apr 1, 2022Close102.625Apr 11, 2022Close94.750Apr 20, 2022Close94.563Apr 28, 2022Close94.219May 6, 2022Close85.500May 16, 2022Close86.438May 24, 2022Close85.500Jun 2, 2022Close85.625Jun 10, 2022Close84.375Jun 21, 2022Close78.969Jun 29, 2022Close77.313Jul 8, 2022Close76.219Jul 18, 2022Close79.031Jul 26, 2022Close80.219Aug 3, 2022Close83.188Aug 11, 2022Close78.656Aug 19, 2022Close79.469Aug 29, 2022Close79.000Sep 7, 2022Close75.469Sep 15, 2022Close73.125Sep 23, 2022Close69.344Oct 3, 2022Close64.969Oct 12, 2022Close63.031Oct 20, 2022Close62.281Oct 28, 2022Close64.281Nov 7, 2022Close62.156Nov 16, 2022Close66.750Nov 25, 2022Close68.469Dec 5, 2022Close72.313Dec 13, 2022Close71.063Dec 21, 2022Close67.625Dec 30, 2022Close64.188Jan 10, 2023Close68.094Jan 19, 2023Close70.563Jan 27, 2023Close71.063Feb 6, 2023Close68.281Feb 14, 2023Close67.188Feb 23, 2023Close66.938Mar 3, 2023Close68.188Mar 13, 2023Close68.906Mar 21, 2023Close67.781Mar 29, 2023Close68.063Apr 6, 2023Close71.094Apr 14, 2023Close69.000Apr 24, 2023Close68.719May 2, 2023Close67.781May 10, 2023Close66.875May 18, 2023Close66.063May 26, 2023Close65.844Jun 6, 2023Close66.125Jun 14, 2023Close65.656Jun 23, 2023Close67.094Jul 3, 2023Close66.656Jul 12, 2023Close65.500Jul 20, 2023Close66.469Jul 28, 2023Close64.688Aug 7, 2023Close61.781Aug 15, 2023Close59.813Aug 23, 2023Close61.438Aug 31, 2023Close61.031Sep 11, 2023Close59.844Sep 19, 2023Close59.125Sep 27, 2023Close55.031Oct 5, 2023Close53.156Oct 16, 2023Close53.875Oct 24, 2023Close53.438Nov 1, 2023Close53.875Nov 9, 2023Close55.875Nov 17, 2023Close56.906Nov 28, 2023Close57.313Dec 6, 2023Close60.281Dec 14, 2023Close63.594Dec 22, 2023Close62.344Jan 3, 2024Close62.375Jan 11, 2024Close60.969Jan 22, 2024Close60.281Jan 30, 2024Close60.156Feb 7, 2024Close59.531Feb 15, 2024Close58.375Feb 26, 2024Close58.875Mar 5, 2024Close61.406Mar 13, 2024Close59.688Mar 21, 2024Close58.750Mar 29, 2024Close59.844Apr 8, 2024Close57.594Apr 16, 2024Close54.969Apr 24, 2024Close55.000May 2, 2024Close55.719May 10, 2024Close57.000May 20, 2024Close57.844May 29, 2024Close55.969Jun 6, 2024Close59.500Jun 14, 2024Close59.781Jun 25, 2024Close59.844Jul 3, 2024Close58.094Jul 12, 2024Close59.844Jul 22, 2024Close59.000Jul 30, 2024Close59.438Aug 7, 2024Close60.031Aug 15, 2024Close61.094Aug 23, 2024Close62.469Sep 3, 2024Close62.031Sep 11, 2024Close63.719Sep 19, 2024Close63.844Sep 27, 2024Close63.156Oct 7, 2024Close61.094Oct 16, 2024Close61.219Oct 24, 2024Close59.250Nov 1, 2024Close58.063Nov 12, 2024Close57.781Nov 20, 2024Close57.688Nov 29, 2024Close59.719Dec 9, 2024Close59.438Dec 17, 2024Close57.219Dec 26, 2024Close55.625Jan 6, 2025Close54.250Jan 14, 2025Close53.313Jan 23, 2025Close54.969Jan 31, 2025Close55.594Feb 10, 2025Close57.063Feb 19, 2025Close56.375Feb 27, 2025Close57.875Mar 7, 2025Close56.969Mar 17, 2025Close56.781Mar 25, 2025Close56.500Apr 2, 2025Close57.531Apr 10, 2025Close52.156Apr 18, 2025Close53.438Apr 28, 2025Close54.844May 6, 2025Close53.938May 14, 2025Close52.844May 22, 2025Close51.844Jun 2, 2025Close52.500Jun 10, 2025Close52.750Jun 18, 2025Close53.531Jun 27, 2025Close53.938Jul 8, 2025Close53.031Jul 16, 2025Close52.781Jul 24, 2025Close53.438Aug 1, 2025Close54.031Aug 11, 2025Close54.188Aug 19, 2025Close53.094Aug 27, 2025Close53.500Sep 5, 2025Close54.781Sep 15, 2025Close56.344Sep 23, 2025Close55.500Oct 1, 2025Close55.500Oct 9, 2025Close55.656Oct 20, 2025Close56.875Oct 28, 2025Close57.813Nov 5, 2025Close55.313Nov 14, 2025Close55.313Nov 24, 2025Close55.500Dec 3, 2025Close55.219Dec 11, 2025Close54.594Dec 19, 2025Close54.094Dec 30, 2025Close54.313Jan 8, 2026Close54.000Jan 16, 2026Close54.656Jan 27, 2026Close54.969Feb 4, 2026Close53.906Feb 12, 2026Close56.094Feb 23, 2026Close56.000Mar 3, 2026Close56.031Mar 11, 2026Close54.313Mar 19, 2026Close54.531Mar 27, 2026Close52.250Apr 6, 2026Close53.875Apr 14, 2026Close54.344Apr 22, 2026Close53.969Apr 30, 2026Close53.188May 8, 2026Close53.750May 18, 2026Close51.813May 27, 2026Close53.094Jun 4, 2026Close53.344Jun 12, 2026Close53.125Jun 23, 2026Close52.781Jul 1, 2026Close52.563Jul 10, 2026Close51.531Jul 20, 2026Close50.906Jul 28, 2026Close50.625Aug 5, 2026Close50.188Aug 13, 2026Close50.125Aug 21, 2026Close49.875Aug 31, 2026Close50.094Sep 9, 2026Close50.281
The most recent 20 trading days of prices for 912810SV1.
DateBidOfferClose
Sep 9, 202650.17250.09450.281
Sep 8, 202650.67250.59450.531
Sep 4, 202650.50050.43850.500
Sep 3, 202650.75050.68850.469
Sep 2, 202650.28150.21950.250
Sep 1, 202650.29750.21950.156
Aug 31, 202650.03149.96950.094
Aug 28, 202651.00050.93850.500
Aug 27, 202651.03150.96950.938
Aug 26, 202650.95350.90650.938
Aug 25, 202650.92250.84450.938
Aug 24, 202650.54750.50050.313
Aug 21, 202650.21950.15649.875
Aug 20, 202650.09450.03150.500
Aug 19, 202650.60950.56350.531
Aug 18, 202649.28149.21949.438
Aug 17, 202649.43849.37549.031
Aug 14, 202649.70349.62549.813
Aug 13, 202650.28150.21950.125
Aug 12, 202650.04749.96949.844

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.

2 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 912810SV1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 18, 2021Feb 26, 2021New issue$9.0bn$9.0bn2.31x-0.040%
Aug 19, 2021Aug 31, 2021Reopening$8.0bn$9.0bn2.34x-0.292%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.