Treasury bond

912810TL2 · 4% due November 15, 2052

Original term
30-Year
Maturity
Nov 15, 2052
Coupon
4.000%
Pays
Semi-Annual
Dated
Nov 15, 2022
First coupon
May 15, 2023
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$64.34bn
Held stripped
$13.58bn
Share stripped
21.11%

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
5.335%
Modified duration
14.682 yr
DV01
0.1212
Convexity
309.206
Dirty price
82.564

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 12 of twelve buckets, summing to 14.803 years against a modified duration of 14.682.

Against the fitted curve

Priced 0.0 bp cheap to the curve on that day, 0.09 cents per 100 of face.

That is 1.13 standard deviations from its own typical residual.

Yield to maturity, 956 observations

3.00%3.50%4.00%4.50%5.00%5.50%Nov 15, 2022Sep 9, 2026Nov 15, 2022Yield to maturity3.977%Nov 21, 2022Yield to maturity3.913%Nov 28, 2022Yield to maturity3.742%Dec 2, 2022Yield to maturity3.568%Dec 8, 2022Yield to maturity3.450%Dec 14, 2022Yield to maturity3.531%Dec 20, 2022Yield to maturity3.742%Dec 27, 2022Yield to maturity3.934%Jan 3, 2023Yield to maturity3.884%Jan 9, 2023Yield to maturity3.664%Jan 13, 2023Yield to maturity3.616%Jan 20, 2023Yield to maturity3.659%Jan 26, 2023Yield to maturity3.622%Feb 1, 2023Yield to maturity3.549%Feb 7, 2023Yield to maturity3.719%Feb 13, 2023Yield to maturity3.775%Feb 17, 2023Yield to maturity3.877%Feb 24, 2023Yield to maturity3.930%Mar 2, 2023Yield to maturity4.025%Mar 8, 2023Yield to maturity3.880%Mar 14, 2023Yield to maturity3.763%Mar 20, 2023Yield to maturity3.643%Mar 24, 2023Yield to maturity3.635%Mar 30, 2023Yield to maturity3.735%Apr 5, 2023Yield to maturity3.549%Apr 11, 2023Yield to maturity3.609%Apr 17, 2023Yield to maturity3.797%Apr 21, 2023Yield to maturity3.762%Apr 27, 2023Yield to maturity3.743%May 3, 2023Yield to maturity3.689%May 9, 2023Yield to maturity3.838%May 15, 2023Yield to maturity3.831%May 19, 2023Yield to maturity3.944%May 25, 2023Yield to maturity4.004%Jun 1, 2023Yield to maturity3.833%Jun 7, 2023Yield to maturity3.944%Jun 13, 2023Yield to maturity3.940%Jun 20, 2023Yield to maturity3.822%Jun 26, 2023Yield to maturity3.824%Jun 30, 2023Yield to maturity3.843%Jul 7, 2023Yield to maturity4.045%Jul 13, 2023Yield to maturity3.892%Jul 19, 2023Yield to maturity3.832%Jul 25, 2023Yield to maturity3.942%Jul 31, 2023Yield to maturity4.018%Aug 4, 2023Yield to maturity4.201%Aug 10, 2023Yield to maturity4.249%Aug 16, 2023Yield to maturity4.383%Aug 22, 2023Yield to maturity4.423%Aug 28, 2023Yield to maturity4.290%Sep 1, 2023Yield to maturity4.298%Sep 8, 2023Yield to maturity4.338%Sep 14, 2023Yield to maturity4.403%Sep 20, 2023Yield to maturity4.406%Sep 26, 2023Yield to maturity4.716%Oct 2, 2023Yield to maturity4.819%Oct 6, 2023Yield to maturity4.959%Oct 13, 2023Yield to maturity4.791%Oct 19, 2023Yield to maturity5.117%Oct 25, 2023Yield to maturity5.104%Oct 31, 2023Yield to maturity5.048%Nov 6, 2023Yield to maturity4.847%Nov 10, 2023Yield to maturity4.757%Nov 16, 2023Yield to maturity4.662%Nov 22, 2023Yield to maturity4.580%Nov 29, 2023Yield to maturity4.468%Dec 5, 2023Yield to maturity4.337%Dec 11, 2023Yield to maturity4.357%Dec 15, 2023Yield to maturity4.039%Dec 21, 2023Yield to maturity4.063%Dec 28, 2023Yield to maturity4.014%Jan 4, 2024Yield to maturity4.172%Jan 10, 2024Yield to maturity4.239%Jan 17, 2024Yield to maturity4.342%Jan 23, 2024Yield to maturity4.408%Jan 29, 2024Yield to maturity4.340%Feb 2, 2024Yield to maturity4.249%Feb 8, 2024Yield to maturity4.392%Feb 14, 2024Yield to maturity4.476%Feb 21, 2024Yield to maturity4.519%Feb 27, 2024Yield to maturity4.472%Mar 4, 2024Yield to maturity4.383%Mar 8, 2024Yield to maturity4.285%Mar 14, 2024Yield to maturity4.466%Mar 20, 2024Yield to maturity4.475%Mar 26, 2024Yield to maturity4.422%Apr 1, 2024Yield to maturity4.491%Apr 5, 2024Yield to maturity4.562%Apr 11, 2024Yield to maturity4.673%Apr 17, 2024Yield to maturity4.725%Apr 23, 2024Yield to maturity4.748%Apr 29, 2024Yield to maturity4.765%May 3, 2024Yield to maturity4.678%May 9, 2024Yield to maturity4.625%May 15, 2024Yield to maturity4.536%May 21, 2024Yield to maturity4.572%May 28, 2024Yield to maturity4.675%Jun 3, 2024Yield to maturity4.568%Jun 7, 2024Yield to maturity4.566%Jun 13, 2024Yield to maturity4.419%Jun 20, 2024Yield to maturity4.411%Jun 26, 2024Yield to maturity4.471%Jul 2, 2024Yield to maturity4.624%Jul 9, 2024Yield to maturity4.512%Jul 15, 2024Yield to maturity4.481%Jul 19, 2024Yield to maturity4.477%Jul 25, 2024Yield to maturity4.527%Jul 31, 2024Yield to maturity4.379%Aug 6, 2024Yield to maturity4.207%Aug 12, 2024Yield to maturity4.224%Aug 16, 2024Yield to maturity4.188%Aug 22, 2024Yield to maturity4.166%Aug 28, 2024Yield to maturity4.168%Sep 4, 2024Yield to maturity4.097%Sep 10, 2024Yield to maturity4.003%Sep 16, 2024Yield to maturity3.979%Sep 20, 2024Yield to maturity4.107%Sep 26, 2024Yield to maturity4.159%Oct 2, 2024Yield to maturity4.173%Oct 8, 2024Yield to maturity4.355%Oct 15, 2024Yield to maturity4.345%Oct 21, 2024Yield to maturity4.515%Oct 25, 2024Yield to maturity4.545%Oct 31, 2024Yield to maturity4.497%Nov 6, 2024Yield to maturity4.650%Nov 13, 2024Yield to maturity4.683%Nov 19, 2024Yield to maturity4.625%Nov 25, 2024Yield to maturity4.500%Dec 2, 2024Yield to maturity4.409%Dec 6, 2024Yield to maturity4.386%Dec 12, 2024Yield to maturity4.602%Dec 18, 2024Yield to maturity4.701%Dec 24, 2024Yield to maturity4.819%Dec 31, 2024Yield to maturity4.840%Jan 7, 2025Yield to maturity4.964%Jan 13, 2025Yield to maturity5.016%Jan 17, 2025Yield to maturity4.888%Jan 24, 2025Yield to maturity4.896%Jan 30, 2025Yield to maturity4.807%Feb 5, 2025Yield to maturity4.686%Feb 11, 2025Yield to maturity4.801%Feb 18, 2025Yield to maturity4.828%Feb 24, 2025Yield to maturity4.708%Feb 28, 2025Yield to maturity4.570%Mar 6, 2025Yield to maturity4.643%Mar 12, 2025Yield to maturity4.689%Mar 18, 2025Yield to maturity4.633%Mar 24, 2025Yield to maturity4.716%Mar 28, 2025Yield to maturity4.692%Apr 3, 2025Yield to maturity4.541%Apr 9, 2025Yield to maturity4.774%Apr 15, 2025Yield to maturity4.836%Apr 21, 2025Yield to maturity4.960%Apr 25, 2025Yield to maturity4.784%May 1, 2025Yield to maturity4.784%May 7, 2025Yield to maturity4.819%May 13, 2025Yield to maturity4.992%May 19, 2025Yield to maturity4.976%May 23, 2025Yield to maturity5.092%May 30, 2025Yield to maturity4.981%Jun 5, 2025Yield to maturity4.939%Jun 11, 2025Yield to maturity4.965%Jun 17, 2025Yield to maturity4.933%Jun 24, 2025Yield to maturity4.877%Jun 30, 2025Yield to maturity4.823%Jul 7, 2025Yield to maturity4.971%Jul 11, 2025Yield to maturity5.006%Jul 17, 2025Yield to maturity5.057%Jul 23, 2025Yield to maturity4.993%Jul 29, 2025Yield to maturity4.902%Aug 4, 2025Yield to maturity4.829%Aug 8, 2025Yield to maturity4.889%Aug 14, 2025Yield to maturity4.912%Aug 20, 2025Yield to maturity4.924%Aug 26, 2025Yield to maturity4.938%Sep 2, 2025Yield to maturity5.009%Sep 8, 2025Yield to maturity4.713%Sep 12, 2025Yield to maturity4.705%Sep 18, 2025Yield to maturity4.754%Sep 24, 2025Yield to maturity4.788%Sep 30, 2025Yield to maturity4.764%Oct 6, 2025Yield to maturity4.795%Oct 10, 2025Yield to maturity4.657%Oct 17, 2025Yield to maturity4.629%Oct 23, 2025Yield to maturity4.610%Oct 29, 2025Yield to maturity4.638%Nov 4, 2025Yield to maturity4.700%Nov 10, 2025Yield to maturity4.741%Nov 17, 2025Yield to maturity4.766%Nov 21, 2025Yield to maturity4.750%Nov 28, 2025Yield to maturity4.708%Dec 4, 2025Yield to maturity4.800%Dec 10, 2025Yield to maturity4.821%Dec 16, 2025Yield to maturity4.853%Dec 22, 2025Yield to maturity4.874%Dec 29, 2025Yield to maturity4.836%Jan 5, 2026Yield to maturity4.887%Jan 9, 2026Yield to maturity4.852%Jan 15, 2026Yield to maturity4.823%Jan 22, 2026Yield to maturity4.876%Jan 28, 2026Yield to maturity4.890%Feb 3, 2026Yield to maturity4.932%Feb 9, 2026Yield to maturity4.881%Feb 13, 2026Yield to maturity4.726%Feb 20, 2026Yield to maturity4.756%Feb 26, 2026Yield to maturity4.700%Mar 4, 2026Yield to maturity4.756%Mar 10, 2026Yield to maturity4.814%Mar 16, 2026Yield to maturity4.899%Mar 20, 2026Yield to maturity5.008%Mar 26, 2026Yield to maturity4.985%Apr 1, 2026Yield to maturity4.964%Apr 7, 2026Yield to maturity4.950%Apr 13, 2026Yield to maturity4.943%Apr 17, 2026Yield to maturity4.927%Apr 23, 2026Yield to maturity4.965%Apr 29, 2026Yield to maturity5.028%May 5, 2026Yield to maturity5.033%May 11, 2026Yield to maturity5.031%May 15, 2026Yield to maturity5.180%May 21, 2026Yield to maturity5.151%May 28, 2026Yield to maturity5.039%Jun 3, 2026Yield to maturity5.049%Jun 9, 2026Yield to maturity5.066%Jun 15, 2026Yield to maturity5.023%Jun 22, 2026Yield to maturity5.004%Jun 26, 2026Yield to maturity4.921%Jul 2, 2026Yield to maturity5.043%Jul 9, 2026Yield to maturity5.112%Jul 15, 2026Yield to maturity5.134%Jul 21, 2026Yield to maturity5.192%Jul 27, 2026Yield to maturity5.187%Jul 31, 2026Yield to maturity5.332%Aug 6, 2026Yield to maturity5.278%Aug 12, 2026Yield to maturity5.307%Aug 18, 2026Yield to maturity5.351%Aug 24, 2026Yield to maturity5.282%Aug 28, 2026Yield to maturity5.270%Sep 3, 2026Yield to maturity5.301%Sep 9, 2026Yield to maturity5.335%

Price history

956 trading days to Sep 9, 2026

80859095100105110115Nov 15, 2022Sep 9, 2026Nov 15, 2022Close100.406Nov 21, 2022Close101.531Nov 28, 2022Close104.625Dec 2, 2022Close107.906Dec 8, 2022Close110.219Dec 14, 2022Close108.625Dec 20, 2022Close104.625Dec 27, 2022Close101.156Jan 3, 2023Close102.031Jan 9, 2023Close106.063Jan 13, 2023Close106.969Jan 20, 2023Close106.156Jan 26, 2023Close106.844Feb 1, 2023Close108.250Feb 7, 2023Close105.031Feb 13, 2023Close104.000Feb 17, 2023Close102.156Feb 24, 2023Close101.219Mar 2, 2023Close99.563Mar 8, 2023Close102.094Mar 14, 2023Close104.219Mar 20, 2023Close106.438Mar 24, 2023Close106.594Mar 30, 2023Close104.719Apr 5, 2023Close108.219Apr 11, 2023Close107.063Apr 17, 2023Close103.594Apr 21, 2023Close104.219Apr 27, 2023Close104.563May 3, 2023Close105.563May 9, 2023Close102.844May 15, 2023Close102.969May 19, 2023Close100.969May 25, 2023Close99.938Jun 1, 2023Close102.938Jun 7, 2023Close100.969Jun 13, 2023Close101.031Jun 20, 2023Close103.125Jun 26, 2023Close103.094Jun 30, 2023Close102.750Jul 7, 2023Close99.219Jul 13, 2023Close101.875Jul 19, 2023Close102.938Jul 25, 2023Close101.000Jul 31, 2023Close99.688Aug 4, 2023Close96.625Aug 10, 2023Close95.844Aug 16, 2023Close93.719Aug 22, 2023Close93.094Aug 28, 2023Close95.188Sep 1, 2023Close95.063Sep 8, 2023Close94.438Sep 14, 2023Close93.406Sep 20, 2023Close93.375Sep 26, 2023Close88.719Oct 2, 2023Close87.250Oct 6, 2023Close85.313Oct 13, 2023Close87.656Oct 19, 2023Close83.188Oct 25, 2023Close83.375Oct 31, 2023Close84.125Nov 6, 2023Close86.875Nov 10, 2023Close88.156Nov 16, 2023Close89.531Nov 22, 2023Close90.750Nov 29, 2023Close92.438Dec 5, 2023Close94.469Dec 11, 2023Close94.156Dec 15, 2023Close99.344Dec 21, 2023Close98.938Dec 28, 2023Close99.750Jan 4, 2024Close97.125Jan 10, 2024Close96.031Jan 17, 2024Close94.406Jan 23, 2024Close93.375Jan 29, 2024Close94.438Feb 2, 2024Close95.875Feb 8, 2024Close93.625Feb 14, 2024Close92.344Feb 21, 2024Close91.688Feb 27, 2024Close92.406Mar 4, 2024Close93.781Mar 8, 2024Close95.313Mar 14, 2024Close92.500Mar 20, 2024Close92.375Mar 26, 2024Close93.188Apr 1, 2024Close92.125Apr 5, 2024Close91.063Apr 11, 2024Close89.438Apr 17, 2024Close88.688Apr 23, 2024Close88.375Apr 29, 2024Close88.125May 3, 2024Close89.375May 9, 2024Close90.156May 15, 2024Close91.469May 21, 2024Close90.938May 28, 2024Close89.438Jun 3, 2024Close91.000Jun 7, 2024Close91.031Jun 13, 2024Close93.250Jun 20, 2024Close93.375Jun 26, 2024Close92.469Jul 2, 2024Close90.188Jul 9, 2024Close91.844Jul 15, 2024Close92.313Jul 19, 2024Close92.375Jul 25, 2024Close91.625Jul 31, 2024Close93.875Aug 6, 2024Close96.594Aug 12, 2024Close96.313Aug 16, 2024Close96.906Aug 22, 2024Close97.250Aug 28, 2024Close97.219Sep 4, 2024Close98.375Sep 10, 2024Close99.938Sep 16, 2024Close100.344Sep 20, 2024Close98.219Sep 26, 2024Close97.375Oct 2, 2024Close97.156Oct 8, 2024Close94.281Oct 15, 2024Close94.438Oct 21, 2024Close91.844Oct 25, 2024Close91.406Oct 31, 2024Close92.125Nov 6, 2024Close89.875Nov 13, 2024Close89.406Nov 19, 2024Close90.250Nov 25, 2024Close92.094Dec 2, 2024Close93.469Dec 6, 2024Close93.813Dec 12, 2024Close90.594Dec 18, 2024Close89.156Dec 24, 2024Close87.500Dec 31, 2024Close87.219Jan 7, 2025Close85.531Jan 13, 2025Close84.844Jan 17, 2025Close86.563Jan 24, 2025Close86.469Jan 30, 2025Close87.688Feb 5, 2025Close89.406Feb 11, 2025Close87.781Feb 18, 2025Close87.406Feb 24, 2025Close89.094Feb 28, 2025Close91.094Mar 6, 2025Close90.031Mar 12, 2025Close89.375Mar 18, 2025Close90.188Mar 24, 2025Close89.000Mar 28, 2025Close89.344Apr 3, 2025Close91.531Apr 9, 2025Close88.188Apr 15, 2025Close87.344Apr 21, 2025Close85.656Apr 25, 2025Close88.063May 1, 2025Close88.063May 7, 2025Close87.594May 13, 2025Close85.250May 19, 2025Close85.469May 23, 2025Close83.938May 30, 2025Close85.406Jun 5, 2025Close85.969Jun 11, 2025Close85.625Jun 17, 2025Close86.063Jun 24, 2025Close86.813Jun 30, 2025Close87.563Jul 7, 2025Close85.563Jul 11, 2025Close85.094Jul 17, 2025Close84.438Jul 23, 2025Close85.281Jul 29, 2025Close86.500Aug 4, 2025Close87.500Aug 8, 2025Close86.688Aug 14, 2025Close86.375Aug 20, 2025Close86.219Aug 26, 2025Close86.031Sep 2, 2025Close85.094Sep 8, 2025Close89.125Sep 12, 2025Close89.250Sep 18, 2025Close88.563Sep 24, 2025Close88.094Sep 30, 2025Close88.438Oct 6, 2025Close88.000Oct 10, 2025Close89.938Oct 17, 2025Close90.344Oct 23, 2025Close90.625Oct 29, 2025Close90.219Nov 4, 2025Close89.344Nov 10, 2025Close88.781Nov 17, 2025Close88.438Nov 21, 2025Close88.656Nov 28, 2025Close89.250Dec 4, 2025Close87.969Dec 10, 2025Close87.688Dec 16, 2025Close87.250Dec 22, 2025Close86.969Dec 29, 2025Close87.500Jan 5, 2026Close86.813Jan 9, 2026Close87.281Jan 15, 2026Close87.688Jan 22, 2026Close86.969Jan 28, 2026Close86.781Feb 3, 2026Close86.219Feb 9, 2026Close86.906Feb 13, 2026Close89.031Feb 20, 2026Close88.625Feb 26, 2026Close89.406Mar 4, 2026Close88.625Mar 10, 2026Close87.844Mar 16, 2026Close86.688Mar 20, 2026Close85.250Mar 26, 2026Close85.563Apr 1, 2026Close85.844Apr 7, 2026Close86.031Apr 13, 2026Close86.125Apr 17, 2026Close86.344Apr 23, 2026Close85.844Apr 29, 2026Close85.031May 5, 2026Close84.969May 11, 2026Close85.000May 15, 2026Close83.094May 21, 2026Close83.469May 28, 2026Close84.906Jun 3, 2026Close84.781Jun 9, 2026Close84.563Jun 15, 2026Close85.125Jun 22, 2026Close85.375Jun 26, 2026Close86.469Jul 2, 2026Close84.875Jul 9, 2026Close84.000Jul 15, 2026Close83.719Jul 21, 2026Close83.000Jul 27, 2026Close83.063Jul 31, 2026Close81.281Aug 6, 2026Close81.938Aug 12, 2026Close81.594Aug 18, 2026Close81.063Aug 24, 2026Close81.906Aug 28, 2026Close82.063Sep 3, 2026Close81.688Sep 9, 2026Close81.281
The most recent 20 trading days of prices for 912810TL2.
DateBidOfferClose
Sep 9, 202681.09481.06381.281
Sep 8, 202681.76681.75081.594
Sep 4, 202681.78181.75081.750
Sep 3, 202681.89181.87581.688
Sep 2, 202681.39181.37581.406
Sep 1, 202681.70381.68881.406
Aug 31, 202681.51681.50081.656
Aug 28, 202682.51682.50082.063
Aug 27, 202682.57882.56382.406
Aug 26, 202682.54782.53182.531
Aug 25, 202682.56382.53182.656
Aug 24, 202682.10982.09481.906
Aug 21, 202681.45381.43881.344
Aug 20, 202681.65681.62581.875
Aug 19, 202682.15682.12582.281
Aug 18, 202680.92280.90681.063
Aug 17, 202681.10981.09480.813
Aug 14, 202681.35981.34481.469
Aug 13, 202681.98481.96982.031
Aug 12, 202681.79781.78181.594

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 912810TL2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 10, 2022Nov 15, 2022New issue$21.0bn$28.4bn2.42x4.080%
Dec 13, 2022Dec 15, 2022Reopening$18.0bn$18.0bn2.25x3.513%
Jan 12, 2023Jan 17, 2023Reopening$18.0bn$18.0bn2.45x3.585%

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.