Treasury bond

912810SY5 · 2.25% due May 15, 2041

Original term
20-Year
Maturity
May 15, 2041
Coupon
2.250%
Pays
Semi-Annual
Dated
May 15, 2021
First coupon
Nov 15, 2021
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$75.46bn
Held stripped
$406.4m
Share stripped
0.54%

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
5.147%
Modified duration
11.650 yr
DV01
0.0829
Convexity
161.330
Dirty price
71.128

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 11.896 years against a modified duration of 11.650.

Against the fitted curve

Priced 0.6 bp rich to the curve on that day, 4.80 cents per 100 of face.

That is -2.11 standard deviations from its own typical residual.

Yield to maturity, 1,321 observations

1%2%3%4%5%6%Jun 1, 2021Sep 9, 2026Jun 1, 2021Yield to maturity2.221%Jun 9, 2021Yield to maturity2.098%Jun 17, 2021Yield to maturity2.054%Jun 25, 2021Yield to maturity2.092%Jul 6, 2021Yield to maturity1.919%Jul 14, 2021Yield to maturity1.908%Jul 22, 2021Yield to maturity1.816%Jul 30, 2021Yield to maturity1.805%Aug 9, 2021Yield to maturity1.867%Aug 17, 2021Yield to maturity1.815%Aug 25, 2021Yield to maturity1.860%Sep 2, 2021Yield to maturity1.807%Sep 13, 2021Yield to maturity1.812%Sep 21, 2021Yield to maturity1.777%Sep 29, 2021Yield to maturity2.019%Oct 7, 2021Yield to maturity2.065%Oct 18, 2021Yield to maturity1.981%Oct 26, 2021Yield to maturity2.021%Nov 3, 2021Yield to maturity2.003%Nov 12, 2021Yield to maturity1.973%Nov 22, 2021Yield to maturity2.024%Dec 1, 2021Yield to maturity1.847%Dec 9, 2021Yield to maturity1.917%Dec 17, 2021Yield to maturity1.872%Dec 28, 2021Yield to maturity1.943%Jan 5, 2022Yield to maturity2.119%Jan 13, 2022Yield to maturity2.108%Jan 24, 2022Yield to maturity2.158%Feb 1, 2022Yield to maturity2.192%Feb 9, 2022Yield to maturity2.315%Feb 17, 2022Yield to maturity2.378%Feb 28, 2022Yield to maturity2.268%Mar 8, 2022Yield to maturity2.352%Mar 16, 2022Yield to maturity2.580%Mar 24, 2022Yield to maturity2.649%Apr 1, 2022Yield to maturity2.613%Apr 11, 2022Yield to maturity3.044%Apr 20, 2022Yield to maturity3.104%Apr 28, 2022Yield to maturity3.133%May 6, 2022Yield to maturity3.472%May 16, 2022Yield to maturity3.331%May 24, 2022Yield to maturity3.203%Jun 2, 2022Yield to maturity3.343%Jun 10, 2022Yield to maturity3.500%Jun 21, 2022Yield to maturity3.685%Jun 29, 2022Yield to maturity3.510%Jul 8, 2022Yield to maturity3.568%Jul 18, 2022Yield to maturity3.429%Jul 26, 2022Yield to maturity3.315%Aug 3, 2022Yield to maturity3.225%Aug 11, 2022Yield to maturity3.429%Aug 19, 2022Yield to maturity3.507%Aug 29, 2022Yield to maturity3.575%Sep 7, 2022Yield to maturity3.743%Sep 15, 2022Yield to maturity3.841%Sep 23, 2022Yield to maturity3.981%Oct 3, 2022Yield to maturity4.081%Oct 12, 2022Yield to maturity4.265%Oct 20, 2022Yield to maturity4.531%Oct 28, 2022Yield to maturity4.467%Nov 7, 2022Yield to maturity4.623%Nov 16, 2022Yield to maturity4.122%Nov 25, 2022Yield to maturity4.042%Dec 5, 2022Yield to maturity3.920%Dec 13, 2022Yield to maturity3.814%Dec 21, 2022Yield to maturity4.004%Dec 30, 2022Yield to maturity4.205%Jan 10, 2023Yield to maturity3.952%Jan 19, 2023Yield to maturity3.720%Jan 27, 2023Yield to maturity3.809%Feb 6, 2023Yield to maturity3.868%Feb 14, 2023Yield to maturity3.982%Feb 23, 2023Yield to maturity4.095%Mar 3, 2023Yield to maturity4.173%Mar 13, 2023Yield to maturity3.867%Mar 21, 2023Yield to maturity3.936%Mar 29, 2023Yield to maturity3.940%Apr 6, 2023Yield to maturity3.680%Apr 14, 2023Yield to maturity3.877%Apr 24, 2023Yield to maturity3.881%May 2, 2023Yield to maturity3.838%May 10, 2023Yield to maturity3.907%May 18, 2023Yield to maturity4.065%May 26, 2023Yield to maturity4.175%Jun 6, 2023Yield to maturity4.043%Jun 14, 2023Yield to maturity4.108%Jun 23, 2023Yield to maturity4.030%Jul 3, 2023Yield to maturity4.098%Jul 12, 2023Yield to maturity4.167%Jul 20, 2023Yield to maturity4.131%Jul 28, 2023Yield to maturity4.252%Aug 7, 2023Yield to maturity4.436%Aug 15, 2023Yield to maturity4.516%Aug 23, 2023Yield to maturity4.487%Aug 31, 2023Yield to maturity4.403%Sep 11, 2023Yield to maturity4.581%Sep 19, 2023Yield to maturity4.647%Sep 27, 2023Yield to maturity4.959%Oct 5, 2023Yield to maturity5.108%Oct 16, 2023Yield to maturity5.109%Oct 24, 2023Yield to maturity5.192%Nov 1, 2023Yield to maturity5.153%Nov 9, 2023Yield to maturity4.991%Nov 17, 2023Yield to maturity4.812%Nov 28, 2023Yield to maturity4.749%Dec 6, 2023Yield to maturity4.441%Dec 14, 2023Yield to maturity4.238%Dec 22, 2023Yield to maturity4.228%Jan 3, 2024Yield to maturity4.207%Jan 11, 2024Yield to maturity4.321%Jan 22, 2024Yield to maturity4.445%Jan 30, 2024Yield to maturity4.403%Feb 7, 2024Yield to maturity4.431%Feb 15, 2024Yield to maturity4.563%Feb 26, 2024Yield to maturity4.569%Mar 5, 2024Yield to maturity4.413%Mar 13, 2024Yield to maturity4.462%Mar 21, 2024Yield to maturity4.551%Mar 29, 2024Yield to maturity4.445%Apr 8, 2024Yield to maturity4.659%Apr 16, 2024Yield to maturity4.902%Apr 24, 2024Yield to maturity4.894%May 2, 2024Yield to maturity4.816%May 10, 2024Yield to maturity4.739%May 20, 2024Yield to maturity4.669%May 29, 2024Yield to maturity4.838%Jun 6, 2024Yield to maturity4.493%Jun 14, 2024Yield to maturity4.436%Jun 25, 2024Yield to maturity4.457%Jul 3, 2024Yield to maturity4.628%Jul 12, 2024Yield to maturity4.469%Jul 22, 2024Yield to maturity4.552%Jul 30, 2024Yield to maturity4.461%Aug 7, 2024Yield to maturity4.312%Aug 15, 2024Yield to maturity4.252%Aug 23, 2024Yield to maturity4.162%Sep 3, 2024Yield to maturity4.183%Sep 11, 2024Yield to maturity4.004%Sep 19, 2024Yield to maturity4.087%Sep 27, 2024Yield to maturity4.104%Oct 7, 2024Yield to maturity4.341%Oct 16, 2024Yield to maturity4.331%Oct 24, 2024Yield to maturity4.509%Nov 1, 2024Yield to maturity4.643%Nov 12, 2024Yield to maturity4.676%Nov 20, 2024Yield to maturity4.658%Nov 29, 2024Yield to maturity4.433%Dec 9, 2024Yield to maturity4.449%Dec 17, 2024Yield to maturity4.667%Dec 26, 2024Yield to maturity4.836%Jan 6, 2025Yield to maturity4.888%Jan 14, 2025Yield to maturity5.055%Jan 23, 2025Yield to maturity4.908%Jan 31, 2025Yield to maturity4.842%Feb 10, 2025Yield to maturity4.716%Feb 19, 2025Yield to maturity4.773%Feb 27, 2025Yield to maturity4.548%Mar 7, 2025Yield to maturity4.617%Mar 17, 2025Yield to maturity4.584%Mar 25, 2025Yield to maturity4.616%Apr 2, 2025Yield to maturity4.510%Apr 10, 2025Yield to maturity4.870%Apr 18, 2025Yield to maturity4.798%Apr 28, 2025Yield to maturity4.661%May 6, 2025Yield to maturity4.790%May 14, 2025Yield to maturity4.974%May 22, 2025Yield to maturity5.044%Jun 2, 2025Yield to maturity4.953%Jun 10, 2025Yield to maturity4.903%Jun 18, 2025Yield to maturity4.836%Jun 27, 2025Yield to maturity4.792%Jul 8, 2025Yield to maturity4.896%Jul 16, 2025Yield to maturity4.951%Jul 24, 2025Yield to maturity4.880%Aug 1, 2025Yield to maturity4.690%Aug 11, 2025Yield to maturity4.727%Aug 19, 2025Yield to maturity4.796%Aug 27, 2025Yield to maturity4.774%Sep 5, 2025Yield to maturity4.611%Sep 15, 2025Yield to maturity4.513%Sep 23, 2025Yield to maturity4.579%Oct 1, 2025Yield to maturity4.575%Oct 9, 2025Yield to maturity4.598%Oct 20, 2025Yield to maturity4.444%Oct 28, 2025Yield to maturity4.420%Nov 5, 2025Yield to maturity4.614%Nov 14, 2025Yield to maturity4.611%Nov 24, 2025Yield to maturity4.519%Dec 3, 2025Yield to maturity4.573%Dec 11, 2025Yield to maturity4.654%Dec 19, 2025Yield to maturity4.678%Dec 30, 2025Yield to maturity4.640%Jan 8, 2026Yield to maturity4.667%Jan 16, 2026Yield to maturity4.668%Jan 27, 2026Yield to maturity4.674%Feb 4, 2026Yield to maturity4.746%Feb 12, 2026Yield to maturity4.553%Feb 23, 2026Yield to maturity4.506%Mar 3, 2026Yield to maturity4.525%Mar 11, 2026Yield to maturity4.703%Mar 19, 2026Yield to maturity4.720%Mar 27, 2026Yield to maturity4.898%Apr 6, 2026Yield to maturity4.780%Apr 14, 2026Yield to maturity4.723%Apr 22, 2026Yield to maturity4.761%Apr 30, 2026Yield to maturity4.857%May 8, 2026Yield to maturity4.815%May 18, 2026Yield to maturity5.039%May 27, 2026Yield to maturity4.893%Jun 4, 2026Yield to maturity4.864%Jun 12, 2026Yield to maturity4.867%Jun 23, 2026Yield to maturity4.849%Jul 1, 2026Yield to maturity4.856%Jul 10, 2026Yield to maturity4.966%Jul 20, 2026Yield to maturity4.995%Jul 28, 2026Yield to maturity5.002%Aug 5, 2026Yield to maturity5.057%Aug 13, 2026Yield to maturity5.075%Aug 21, 2026Yield to maturity5.121%Aug 31, 2026Yield to maturity5.109%Sep 9, 2026Yield to maturity5.147%

Price history

1,321 trading days to Sep 9, 2026

60708090100110Jun 1, 2021Sep 9, 2026Jun 1, 2021Close100.469Jun 9, 2021Close102.469Jun 17, 2021Close103.188Jun 25, 2021Close102.563Jul 6, 2021Close105.438Jul 14, 2021Close105.625Jul 22, 2021Close107.188Jul 30, 2021Close107.375Aug 9, 2021Close106.313Aug 17, 2021Close107.188Aug 25, 2021Close106.406Sep 2, 2021Close107.313Sep 13, 2021Close107.219Sep 21, 2021Close107.813Sep 29, 2021Close103.719Oct 7, 2021Close102.969Oct 18, 2021Close104.344Oct 26, 2021Close103.688Nov 3, 2021Close103.969Nov 12, 2021Close104.469Nov 22, 2021Close103.625Dec 1, 2021Close106.563Dec 9, 2021Close105.375Dec 17, 2021Close106.125Dec 28, 2021Close104.938Jan 5, 2022Close102.063Jan 13, 2022Close102.250Jan 24, 2022Close101.438Feb 1, 2022Close100.906Feb 9, 2022Close99.000Feb 17, 2022Close98.031Feb 28, 2022Close99.719Mar 8, 2022Close98.438Mar 16, 2022Close95.031Mar 24, 2022Close94.031Apr 1, 2022Close94.563Apr 11, 2022Close88.563Apr 20, 2022Close87.781Apr 28, 2022Close87.406May 6, 2022Close83.094May 16, 2022Close84.875May 24, 2022Close86.531Jun 2, 2022Close84.750Jun 10, 2022Close82.813Jun 21, 2022Close80.594Jun 29, 2022Close82.719Jul 8, 2022Close82.031Jul 18, 2022Close83.750Jul 26, 2022Close85.188Aug 3, 2022Close86.344Aug 11, 2022Close83.781Aug 19, 2022Close82.844Aug 29, 2022Close82.031Sep 7, 2022Close80.063Sep 15, 2022Close78.938Sep 23, 2022Close77.375Oct 3, 2022Close76.281Oct 12, 2022Close74.313Oct 20, 2022Close71.563Oct 28, 2022Close72.250Nov 7, 2022Close70.688Nov 16, 2022Close75.938Nov 25, 2022Close76.844Dec 5, 2022Close78.219Dec 13, 2022Close79.438Dec 21, 2022Close77.313Dec 30, 2022Close75.156Jan 10, 2023Close77.938Jan 19, 2023Close80.594Jan 27, 2023Close79.594Feb 6, 2023Close78.938Feb 14, 2023Close77.688Feb 23, 2023Close76.469Mar 3, 2023Close75.656Mar 13, 2023Close79.031Mar 21, 2023Close78.281Mar 29, 2023Close78.250Apr 6, 2023Close81.219Apr 14, 2023Close79.000Apr 24, 2023Close78.969May 2, 2023Close79.469May 10, 2023Close78.719May 18, 2023Close77.000May 26, 2023Close75.844Jun 6, 2023Close77.281Jun 14, 2023Close76.594Jun 23, 2023Close77.469Jul 3, 2023Close76.750Jul 12, 2023Close76.031Jul 20, 2023Close76.438Jul 28, 2023Close75.188Aug 7, 2023Close73.313Aug 15, 2023Close72.531Aug 23, 2023Close72.844Aug 31, 2023Close73.719Sep 11, 2023Close71.969Sep 19, 2023Close71.344Sep 27, 2023Close68.406Oct 5, 2023Close67.063Oct 16, 2023Close67.094Oct 24, 2023Close66.375Nov 1, 2023Close66.750Nov 9, 2023Close68.250Nov 17, 2023Close69.938Nov 28, 2023Close70.563Dec 6, 2023Close73.594Dec 14, 2023Close75.688Dec 22, 2023Close75.813Jan 3, 2024Close76.063Jan 11, 2024Close74.906Jan 22, 2024Close73.688Jan 30, 2024Close74.125Feb 7, 2024Close73.875Feb 15, 2024Close72.594Feb 26, 2024Close72.563Mar 5, 2024Close74.125Mar 13, 2024Close73.656Mar 21, 2024Close72.813Mar 29, 2024Close73.875Apr 8, 2024Close71.813Apr 16, 2024Close69.563Apr 24, 2024Close69.656May 2, 2024Close70.406May 10, 2024Close71.156May 20, 2024Close71.844May 29, 2024Close70.281Jun 6, 2024Close73.594Jun 14, 2024Close74.188Jun 25, 2024Close74.000Jul 3, 2024Close72.375Jul 12, 2024Close73.938Jul 22, 2024Close73.156Jul 30, 2024Close74.063Aug 7, 2024Close75.563Aug 15, 2024Close76.188Aug 23, 2024Close77.125Sep 3, 2024Close76.938Sep 11, 2024Close78.813Sep 19, 2024Close77.969Sep 27, 2024Close77.813Oct 7, 2024Close75.438Oct 16, 2024Close75.563Oct 24, 2024Close73.844Nov 1, 2024Close72.594Nov 12, 2024Close72.313Nov 20, 2024Close72.500Nov 29, 2024Close74.688Dec 9, 2024Close74.563Dec 17, 2024Close72.500Dec 26, 2024Close70.969Jan 6, 2025Close70.531Jan 14, 2025Close69.063Jan 23, 2025Close70.406Jan 31, 2025Close71.031Feb 10, 2025Close72.219Feb 19, 2025Close71.719Feb 27, 2025Close73.844Mar 7, 2025Close73.219Mar 17, 2025Close73.563Mar 25, 2025Close73.281Apr 2, 2025Close74.313Apr 10, 2025Close71.000Apr 18, 2025Close71.688Apr 28, 2025Close72.969May 6, 2025Close71.813May 14, 2025Close70.188May 22, 2025Close69.594Jun 2, 2025Close70.438Jun 10, 2025Close70.906Jun 18, 2025Close71.531Jun 27, 2025Close71.969Jul 8, 2025Close71.063Jul 16, 2025Close70.594Jul 24, 2025Close71.250Aug 1, 2025Close73.000Aug 11, 2025Close72.688Aug 19, 2025Close72.094Aug 27, 2025Close72.313Sep 5, 2025Close73.844Sep 15, 2025Close74.781Sep 23, 2025Close74.188Oct 1, 2025Close74.250Oct 9, 2025Close74.063Oct 20, 2025Close75.531Oct 28, 2025Close75.781Nov 5, 2025Close74.000Nov 14, 2025Close74.063Nov 24, 2025Close74.938Dec 3, 2025Close74.469Dec 11, 2025Close73.750Dec 19, 2025Close73.563Dec 30, 2025Close73.938Jan 8, 2026Close73.719Jan 16, 2026Close73.750Jan 27, 2026Close73.719Feb 4, 2026Close73.094Feb 12, 2026Close74.875Feb 23, 2026Close75.344Mar 3, 2026Close75.188Mar 11, 2026Close73.594Mar 19, 2026Close73.469Mar 27, 2026Close71.938Apr 6, 2026Close73.000Apr 14, 2026Close73.531Apr 22, 2026Close73.219Apr 30, 2026Close72.406May 8, 2026Close72.813May 18, 2026Close70.906May 27, 2026Close72.188Jun 4, 2026Close72.469Jun 12, 2026Close72.469Jun 23, 2026Close72.656Jul 1, 2026Close72.625Jul 10, 2026Close71.719Jul 20, 2026Close71.500Jul 28, 2026Close71.469Aug 5, 2026Close71.031Aug 13, 2026Close70.906Aug 21, 2026Close70.563Aug 31, 2026Close70.688Sep 9, 2026Close70.406
The most recent 20 trading days of prices for 912810SY5.
DateBidOfferClose
Sep 9, 202670.25070.18870.406
Sep 8, 202670.73470.68870.563
Sep 4, 202670.76670.71970.688
Sep 3, 202670.85970.81370.656
Sep 2, 202670.48470.43870.469
Sep 1, 202670.68870.62570.406
Aug 31, 202670.62570.56370.688
Aug 28, 202671.25071.18870.938
Aug 27, 202671.39171.34471.219
Aug 26, 202671.35971.31371.313
Aug 25, 202671.43871.37571.438
Aug 24, 202671.06371.00070.906
Aug 21, 202670.67270.62570.563
Aug 20, 202670.82870.78170.938
Aug 19, 202671.10971.06371.188
Aug 18, 202670.26670.21970.344
Aug 17, 202670.39170.34470.125
Aug 14, 202670.53170.46970.500
Aug 13, 202670.92270.87570.906
Aug 12, 202670.68870.62570.531

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 912810SY5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 19, 2021Jun 1, 2021New issue$27.0bn$32.2bn2.24x2.286%
Jun 15, 2021Jun 30, 2021Reopening$24.0bn$27.6bn2.40x2.120%
Jul 21, 2021Aug 2, 2021Reopening$24.0bn$26.3bn2.33x1.890%

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.