Treasury bond

912810TH1 · 3.25% due May 15, 2042

Original term
20-Year
Maturity
May 15, 2042
Coupon
3.250%
Pays
Semi-Annual
Dated
May 15, 2022
First coupon
Nov 15, 2022
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$41.11bn
Held stripped
$99.2m
Share stripped
0.24%

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
5.195%
Modified duration
11.469 yr
DV01
0.0922
Convexity
164.076
Dirty price
80.355

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 10 of twelve buckets, summing to 11.692 years against a modified duration of 11.469.

Against the fitted curve

Priced 1.5 bp cheap to the curve on that day, 13.98 cents per 100 of face.

That is -0.99 standard deviations from its own typical residual.

Yield to maturity, 1,071 observations

3.00%3.50%4.00%4.50%5.00%5.50%May 31, 2022Sep 9, 2026May 31, 2022Yield to maturity3.276%Jun 7, 2022Yield to maturity3.351%Jun 14, 2022Yield to maturity3.724%Jun 22, 2022Yield to maturity3.493%Jun 29, 2022Yield to maturity3.469%Jul 7, 2022Yield to maturity3.458%Jul 14, 2022Yield to maturity3.365%Jul 21, 2022Yield to maturity3.339%Jul 28, 2022Yield to maturity3.228%Aug 4, 2022Yield to maturity3.154%Aug 11, 2022Yield to maturity3.383%Aug 18, 2022Yield to maturity3.365%Aug 25, 2022Yield to maturity3.483%Sep 1, 2022Yield to maturity3.655%Sep 9, 2022Yield to maturity3.730%Sep 16, 2022Yield to maturity3.807%Sep 23, 2022Yield to maturity3.908%Sep 30, 2022Yield to maturity4.104%Oct 7, 2022Yield to maturity4.161%Oct 17, 2022Yield to maturity4.314%Oct 24, 2022Yield to maturity4.624%Oct 31, 2022Yield to maturity4.472%Nov 7, 2022Yield to maturity4.585%Nov 15, 2022Yield to maturity4.226%Nov 22, 2022Yield to maturity4.099%Nov 30, 2022Yield to maturity4.039%Dec 7, 2022Yield to maturity3.711%Dec 14, 2022Yield to maturity3.771%Dec 21, 2022Yield to maturity3.973%Dec 29, 2022Yield to maturity4.127%Jan 6, 2023Yield to maturity3.866%Jan 13, 2023Yield to maturity3.804%Jan 23, 2023Yield to maturity3.826%Jan 30, 2023Yield to maturity3.814%Feb 6, 2023Yield to maturity3.851%Feb 13, 2023Yield to maturity3.942%Feb 21, 2023Yield to maturity4.165%Feb 28, 2023Yield to maturity4.143%Mar 7, 2023Yield to maturity4.149%Mar 14, 2023Yield to maturity3.952%Mar 21, 2023Yield to maturity3.937%Mar 28, 2023Yield to maturity3.916%Apr 4, 2023Yield to maturity3.738%Apr 11, 2023Yield to maturity3.760%Apr 18, 2023Yield to maturity3.917%Apr 25, 2023Yield to maturity3.775%May 2, 2023Yield to maturity3.820%May 9, 2023Yield to maturity3.939%May 16, 2023Yield to maturity3.964%May 23, 2023Yield to maturity4.099%May 31, 2023Yield to maturity4.028%Jun 7, 2023Yield to maturity4.137%Jun 14, 2023Yield to maturity4.104%Jun 22, 2023Yield to maturity4.084%Jun 29, 2023Yield to maturity4.138%Jul 7, 2023Yield to maturity4.294%Jul 14, 2023Yield to maturity4.132%Jul 21, 2023Yield to maturity4.130%Jul 28, 2023Yield to maturity4.241%Aug 4, 2023Yield to maturity4.375%Aug 11, 2023Yield to maturity4.464%Aug 18, 2023Yield to maturity4.573%Aug 25, 2023Yield to maturity4.521%Sep 1, 2023Yield to maturity4.500%Sep 11, 2023Yield to maturity4.581%Sep 18, 2023Yield to maturity4.602%Sep 25, 2023Yield to maturity4.872%Oct 2, 2023Yield to maturity5.032%Oct 10, 2023Yield to maturity5.064%Oct 17, 2023Yield to maturity5.176%Oct 24, 2023Yield to maturity5.190%Oct 31, 2023Yield to maturity5.245%Nov 7, 2023Yield to maturity4.933%Nov 14, 2023Yield to maturity4.827%Nov 21, 2023Yield to maturity4.796%Nov 29, 2023Yield to maturity4.664%Dec 6, 2023Yield to maturity4.448%Dec 13, 2023Yield to maturity4.394%Dec 20, 2023Yield to maturity4.195%Dec 28, 2023Yield to maturity4.153%Jan 5, 2024Yield to maturity4.383%Jan 12, 2024Yield to maturity4.332%Jan 22, 2024Yield to maturity4.459%Jan 29, 2024Yield to maturity4.438%Feb 5, 2024Yield to maturity4.489%Feb 12, 2024Yield to maturity4.507%Feb 20, 2024Yield to maturity4.593%Feb 27, 2024Yield to maturity4.614%Mar 5, 2024Yield to maturity4.429%Mar 12, 2024Yield to maturity4.452%Mar 19, 2024Yield to maturity4.577%Mar 26, 2024Yield to maturity4.519%Apr 2, 2024Yield to maturity4.634%Apr 9, 2024Yield to maturity4.609%Apr 16, 2024Yield to maturity4.905%Apr 23, 2024Yield to maturity4.858%Apr 30, 2024Yield to maturity4.913%May 7, 2024Yield to maturity4.706%May 14, 2024Yield to maturity4.708%May 21, 2024Yield to maturity4.662%May 29, 2024Yield to maturity4.849%Jun 5, 2024Yield to maturity4.537%Jun 12, 2024Yield to maturity4.573%Jun 20, 2024Yield to maturity4.502%Jun 27, 2024Yield to maturity4.543%Jul 5, 2024Yield to maturity4.576%Jul 12, 2024Yield to maturity4.491%Jul 19, 2024Yield to maturity4.552%Jul 26, 2024Yield to maturity4.527%Aug 2, 2024Yield to maturity4.159%Aug 9, 2024Yield to maturity4.313%Aug 16, 2024Yield to maturity4.250%Aug 23, 2024Yield to maturity4.183%Aug 30, 2024Yield to maturity4.282%Sep 9, 2024Yield to maturity4.071%Sep 16, 2024Yield to maturity3.989%Sep 23, 2024Yield to maturity4.115%Sep 30, 2024Yield to maturity4.157%Oct 7, 2024Yield to maturity4.345%Oct 15, 2024Yield to maturity4.354%Oct 22, 2024Yield to maturity4.534%Oct 29, 2024Yield to maturity4.602%Nov 5, 2024Yield to maturity4.545%Nov 13, 2024Yield to maturity4.723%Nov 20, 2024Yield to maturity4.673%Nov 27, 2024Yield to maturity4.517%Dec 5, 2024Yield to maturity4.406%Dec 12, 2024Yield to maturity4.606%Dec 19, 2024Yield to maturity4.837%Dec 27, 2024Yield to maturity4.894%Jan 6, 2025Yield to maturity4.898%Jan 13, 2025Yield to maturity5.052%Jan 21, 2025Yield to maturity4.861%Jan 28, 2025Yield to maturity4.826%Feb 4, 2025Yield to maturity4.785%Feb 11, 2025Yield to maturity4.777%Feb 19, 2025Yield to maturity4.790%Feb 26, 2025Yield to maturity4.527%Mar 5, 2025Yield to maturity4.592%Mar 12, 2025Yield to maturity4.647%Mar 19, 2025Yield to maturity4.565%Mar 26, 2025Yield to maturity4.682%Apr 2, 2025Yield to maturity4.538%Apr 9, 2025Yield to maturity4.754%Apr 16, 2025Yield to maturity4.749%Apr 23, 2025Yield to maturity4.839%Apr 30, 2025Yield to maturity4.646%May 7, 2025Yield to maturity4.762%May 14, 2025Yield to maturity4.990%May 21, 2025Yield to maturity5.093%May 29, 2025Yield to maturity4.927%Jun 5, 2025Yield to maturity4.881%Jun 12, 2025Yield to maturity4.821%Jun 20, 2025Yield to maturity4.872%Jun 27, 2025Yield to maturity4.814%Jul 7, 2025Yield to maturity4.903%Jul 14, 2025Yield to maturity4.939%Jul 21, 2025Yield to maturity4.899%Jul 28, 2025Yield to maturity4.916%Aug 4, 2025Yield to maturity4.720%Aug 11, 2025Yield to maturity4.776%Aug 18, 2025Yield to maturity4.870%Aug 25, 2025Yield to maturity4.816%Sep 2, 2025Yield to maturity4.867%Sep 9, 2025Yield to maturity4.611%Sep 16, 2025Yield to maturity4.552%Sep 23, 2025Yield to maturity4.631%Sep 30, 2025Yield to maturity4.644%Oct 7, 2025Yield to maturity4.634%Oct 15, 2025Yield to maturity4.545%Oct 22, 2025Yield to maturity4.448%Oct 29, 2025Yield to maturity4.523%Nov 5, 2025Yield to maturity4.651%Nov 13, 2025Yield to maturity4.610%Nov 20, 2025Yield to maturity4.617%Nov 28, 2025Yield to maturity4.555%Dec 5, 2025Yield to maturity4.693%Dec 12, 2025Yield to maturity4.759%Dec 19, 2025Yield to maturity4.714%Dec 29, 2025Yield to maturity4.669%Jan 6, 2026Yield to maturity4.714%Jan 13, 2026Yield to maturity4.678%Jan 21, 2026Yield to maturity4.748%Jan 28, 2026Yield to maturity4.736%Feb 4, 2026Yield to maturity4.781%Feb 11, 2026Yield to maturity4.674%Feb 19, 2026Yield to maturity4.562%Feb 26, 2026Yield to maturity4.512%Mar 5, 2026Yield to maturity4.620%Mar 12, 2026Yield to maturity4.782%Mar 19, 2026Yield to maturity4.755%Mar 26, 2026Yield to maturity4.902%Apr 2, 2026Yield to maturity4.799%Apr 9, 2026Yield to maturity4.794%Apr 16, 2026Yield to maturity4.821%Apr 23, 2026Yield to maturity4.822%Apr 30, 2026Yield to maturity4.888%May 7, 2026Yield to maturity4.873%May 14, 2026Yield to maturity4.929%May 21, 2026Yield to maturity5.028%May 29, 2026Yield to maturity4.897%Jun 5, 2026Yield to maturity4.957%Jun 12, 2026Yield to maturity4.903%Jun 22, 2026Yield to maturity4.892%Jun 29, 2026Yield to maturity4.775%Jul 7, 2026Yield to maturity4.973%Jul 14, 2026Yield to maturity5.014%Jul 21, 2026Yield to maturity5.065%Jul 28, 2026Yield to maturity5.037%Aug 4, 2026Yield to maturity5.102%Aug 11, 2026Yield to maturity5.167%Aug 18, 2026Yield to maturity5.189%Aug 25, 2026Yield to maturity5.067%Sep 1, 2026Yield to maturity5.186%Sep 9, 2026Yield to maturity5.195%

Price history

1,071 trading days to Sep 9, 2026

7580859095100105May 31, 2022Sep 9, 2026May 31, 2022Close99.625Jun 7, 2022Close98.531Jun 14, 2022Close93.375Jun 22, 2022Close96.531Jun 29, 2022Close96.875Jul 7, 2022Close97.031Jul 14, 2022Close98.344Jul 21, 2022Close98.719Jul 28, 2022Close100.313Aug 4, 2022Close101.406Aug 11, 2022Close98.094Aug 18, 2022Close98.344Aug 25, 2022Close96.688Sep 1, 2022Close94.344Sep 9, 2022Close93.344Sep 16, 2022Close92.344Sep 23, 2022Close91.031Sep 30, 2022Close88.563Oct 7, 2022Close87.875Oct 17, 2022Close86.031Oct 24, 2022Close82.438Oct 31, 2022Close84.188Nov 7, 2022Close82.906Nov 15, 2022Close87.125Nov 22, 2022Close88.688Nov 30, 2022Close89.438Dec 7, 2022Close93.656Dec 14, 2022Close92.875Dec 21, 2022Close90.281Dec 29, 2022Close88.375Jan 6, 2023Close91.656Jan 13, 2023Close92.469Jan 23, 2023Close92.188Jan 30, 2023Close92.344Feb 6, 2023Close91.875Feb 13, 2023Close90.719Feb 21, 2023Close87.969Feb 28, 2023Close88.250Mar 7, 2023Close88.188Mar 14, 2023Close90.625Mar 21, 2023Close90.813Mar 28, 2023Close91.094Apr 4, 2023Close93.375Apr 11, 2023Close93.094Apr 18, 2023Close91.094Apr 25, 2023Close92.906May 2, 2023Close92.344May 9, 2023Close90.844May 16, 2023Close90.531May 23, 2023Close88.875May 31, 2023Close89.750Jun 7, 2023Close88.438Jun 14, 2023Close88.844Jun 22, 2023Close89.094Jun 29, 2023Close88.438Jul 7, 2023Close86.594Jul 14, 2023Close88.531Jul 21, 2023Close88.563Jul 28, 2023Close87.250Aug 4, 2023Close85.688Aug 11, 2023Close84.688Aug 18, 2023Close83.469Aug 25, 2023Close84.063Sep 1, 2023Close84.313Sep 11, 2023Close83.406Sep 18, 2023Close83.188Sep 25, 2023Close80.281Oct 2, 2023Close78.625Oct 10, 2023Close78.313Oct 17, 2023Close77.188Oct 24, 2023Close77.063Oct 31, 2023Close76.531Nov 7, 2023Close79.719Nov 14, 2023Close80.844Nov 21, 2023Close81.188Nov 29, 2023Close82.625Dec 6, 2023Close85.031Dec 13, 2023Close85.656Dec 20, 2023Close87.969Dec 28, 2023Close88.469Jan 5, 2024Close85.813Jan 12, 2024Close86.406Jan 22, 2024Close84.969Jan 29, 2024Close85.219Feb 5, 2024Close84.656Feb 12, 2024Close84.469Feb 20, 2024Close83.531Feb 27, 2024Close83.313Mar 5, 2024Close85.375Mar 12, 2024Close85.125Mar 19, 2024Close83.750Mar 26, 2024Close84.406Apr 2, 2024Close83.156Apr 9, 2024Close83.438Apr 16, 2024Close80.313Apr 23, 2024Close80.813Apr 30, 2024Close80.250May 7, 2024Close82.438May 14, 2024Close82.438May 21, 2024Close82.938May 29, 2024Close80.969Jun 5, 2024Close84.313Jun 12, 2024Close83.938Jun 20, 2024Close84.719Jun 27, 2024Close84.281Jul 5, 2024Close83.938Jul 12, 2024Close84.875Jul 19, 2024Close84.219Jul 26, 2024Close84.500Aug 2, 2024Close88.656Aug 9, 2024Close86.906Aug 16, 2024Close87.625Aug 23, 2024Close88.406Aug 30, 2024Close87.281Sep 9, 2024Close89.719Sep 16, 2024Close90.688Sep 23, 2024Close89.219Sep 30, 2024Close88.750Oct 7, 2024Close86.625Oct 15, 2024Close86.531Oct 22, 2024Close84.563Oct 29, 2024Close83.844Nov 5, 2024Close84.469Nov 13, 2024Close82.594Nov 20, 2024Close83.125Nov 27, 2024Close84.813Dec 5, 2024Close86.031Dec 12, 2024Close83.875Dec 19, 2024Close81.469Dec 27, 2024Close80.906Jan 6, 2025Close80.875Jan 13, 2025Close79.344Jan 21, 2025Close81.281Jan 28, 2025Close81.656Feb 4, 2025Close82.094Feb 11, 2025Close82.188Feb 19, 2025Close82.063Feb 26, 2025Close84.844Mar 5, 2025Close84.156Mar 12, 2025Close83.594Mar 19, 2025Close84.469Mar 26, 2025Close83.250Apr 2, 2025Close84.781Apr 9, 2025Close82.531Apr 16, 2025Close82.594Apr 23, 2025Close81.688Apr 30, 2025Close83.688May 7, 2025Close82.500May 14, 2025Close80.219May 21, 2025Close79.219May 29, 2025Close80.875Jun 5, 2025Close81.344Jun 12, 2025Close81.969Jun 20, 2025Close81.469Jun 27, 2025Close82.063Jul 7, 2025Close81.188Jul 14, 2025Close80.844Jul 21, 2025Close81.250Jul 28, 2025Close81.094Aug 4, 2025Close83.094Aug 11, 2025Close82.531Aug 18, 2025Close81.594Aug 25, 2025Close82.156Sep 2, 2025Close81.656Sep 9, 2025Close84.281Sep 16, 2025Close84.906Sep 23, 2025Close84.094Sep 30, 2025Close83.969Oct 7, 2025Close84.094Oct 15, 2025Close85.031Oct 22, 2025Close86.063Oct 29, 2025Close85.281Nov 5, 2025Close83.969Nov 13, 2025Close84.406Nov 20, 2025Close84.344Nov 28, 2025Close85.000Dec 5, 2025Close83.594Dec 12, 2025Close82.938Dec 19, 2025Close83.406Dec 29, 2025Close83.875Jan 6, 2026Close83.438Jan 13, 2026Close83.813Jan 21, 2026Close83.125Jan 28, 2026Close83.250Feb 4, 2026Close82.813Feb 11, 2026Close83.906Feb 19, 2026Close85.063Feb 26, 2026Close85.594Mar 5, 2026Close84.500Mar 12, 2026Close82.875Mar 19, 2026Close83.156Mar 26, 2026Close81.719Apr 2, 2026Close82.750Apr 9, 2026Close82.813Apr 16, 2026Close82.563Apr 23, 2026Close82.563Apr 30, 2026Close81.938May 7, 2026Close82.094May 14, 2026Close81.563May 21, 2026Close80.625May 29, 2026Close81.906Jun 5, 2026Close81.344Jun 12, 2026Close81.875Jun 22, 2026Close82.000Jun 29, 2026Close83.156Jul 7, 2026Close81.250Jul 14, 2026Close80.875Jul 21, 2026Close80.406Jul 28, 2026Close80.688Aug 4, 2026Close80.094Aug 11, 2026Close79.500Aug 18, 2026Close79.313Aug 25, 2026Close80.469Sep 1, 2026Close79.375Sep 9, 2026Close79.313
The most recent 20 trading days of prices for 912810TH1.
DateBidOfferClose
Sep 9, 202679.14179.09479.313
Sep 8, 202679.68879.65679.531
Sep 4, 202679.73479.68879.656
Sep 3, 202679.82879.78179.625
Sep 2, 202679.39179.34479.375
Sep 1, 202679.67279.62579.375
Aug 31, 202679.57879.53179.656
Aug 28, 202680.23480.18879.906
Aug 27, 202680.40680.37580.219
Aug 26, 202680.39180.34480.313
Aug 25, 202680.45380.40680.469
Aug 24, 202680.07880.03179.906
Aug 21, 202679.60979.56379.500
Aug 20, 202679.81379.78179.938
Aug 19, 202680.12580.06380.219
Aug 18, 202679.21979.18879.313
Aug 17, 202679.32879.28179.063
Aug 14, 202679.51679.46979.500
Aug 13, 202679.98479.93879.969
Aug 12, 202679.71979.68879.531

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 912810TH1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 18, 2022May 31, 2022New issue$17.0bn$19.6bn2.50x3.290%
Jun 22, 2022Jun 30, 2022Reopening$14.0bn$15.1bn2.60x3.488%
Jul 20, 2022Aug 1, 2022Reopening$14.0bn$15.2bn2.65x3.420%

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.