Treasury bond

912810TW8 · 4.75% due November 15, 2043

Original term
20-Year
Maturity
Nov 15, 2043
Coupon
4.750%
Pays
Semi-Annual
Dated
Nov 15, 2023
First coupon
May 15, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$42.18bn
Held stripped
$67.7m
Share stripped
0.16%

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
5.233%
Modified duration
11.283 yr
DV01
0.1084
Convexity
168.438
Dirty price
96.086

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 11.471 years against a modified duration of 11.283.

Against the fitted curve

Priced 2.4 bp cheap to the curve on that day, 26.39 cents per 100 of face.

That is -0.32 standard deviations from its own typical residual.

Yield to maturity, 695 observations

3.75%4.00%4.25%4.50%4.75%5.00%5.25%5.50%Nov 30, 2023Sep 9, 2026Nov 30, 2023Yield to maturity4.718%Dec 5, 2023Yield to maturity4.482%Dec 8, 2023Yield to maturity4.492%Dec 13, 2023Yield to maturity4.353%Dec 18, 2023Yield to maturity4.231%Dec 21, 2023Yield to maturity4.199%Dec 27, 2023Yield to maturity4.104%Jan 2, 2024Yield to maturity4.248%Jan 5, 2024Yield to maturity4.363%Jan 10, 2024Yield to maturity4.347%Jan 16, 2024Yield to maturity4.423%Jan 19, 2024Yield to maturity4.483%Jan 24, 2024Yield to maturity4.526%Jan 29, 2024Yield to maturity4.418%Feb 1, 2024Yield to maturity4.204%Feb 6, 2024Yield to maturity4.388%Feb 9, 2024Yield to maturity4.481%Feb 14, 2024Yield to maturity4.566%Feb 20, 2024Yield to maturity4.563%Feb 23, 2024Yield to maturity4.537%Feb 28, 2024Yield to maturity4.558%Mar 4, 2024Yield to maturity4.504%Mar 7, 2024Yield to maturity4.371%Mar 12, 2024Yield to maturity4.440%Mar 15, 2024Yield to maturity4.572%Mar 20, 2024Yield to maturity4.558%Mar 25, 2024Yield to maturity4.527%Mar 28, 2024Yield to maturity4.459%Apr 2, 2024Yield to maturity4.623%Apr 5, 2024Yield to maturity4.654%Apr 10, 2024Yield to maturity4.767%Apr 15, 2024Yield to maturity4.864%Apr 18, 2024Yield to maturity4.867%Apr 23, 2024Yield to maturity4.849%Apr 26, 2024Yield to maturity4.900%May 1, 2024Yield to maturity4.850%May 6, 2024Yield to maturity4.733%May 9, 2024Yield to maturity4.706%May 14, 2024Yield to maturity4.693%May 17, 2024Yield to maturity4.661%May 22, 2024Yield to maturity4.654%May 28, 2024Yield to maturity4.765%May 31, 2024Yield to maturity4.747%Jun 5, 2024Yield to maturity4.540%Jun 10, 2024Yield to maturity4.700%Jun 13, 2024Yield to maturity4.507%Jun 18, 2024Yield to maturity4.475%Jun 24, 2024Yield to maturity4.492%Jun 27, 2024Yield to maturity4.544%Jul 2, 2024Yield to maturity4.715%Jul 8, 2024Yield to maturity4.566%Jul 11, 2024Yield to maturity4.499%Jul 16, 2024Yield to maturity4.472%Jul 19, 2024Yield to maturity4.549%Jul 24, 2024Yield to maturity4.614%Jul 29, 2024Yield to maturity4.501%Aug 1, 2024Yield to maturity4.326%Aug 6, 2024Yield to maturity4.252%Aug 9, 2024Yield to maturity4.303%Aug 14, 2024Yield to maturity4.190%Aug 19, 2024Yield to maturity4.206%Aug 22, 2024Yield to maturity4.210%Aug 27, 2024Yield to maturity4.194%Aug 30, 2024Yield to maturity4.272%Sep 5, 2024Yield to maturity4.094%Sep 10, 2024Yield to maturity4.016%Sep 13, 2024Yield to maturity4.024%Sep 18, 2024Yield to maturity4.062%Sep 23, 2024Yield to maturity4.104%Sep 26, 2024Yield to maturity4.149%Oct 1, 2024Yield to maturity4.102%Oct 4, 2024Yield to maturity4.298%Oct 9, 2024Yield to maturity4.375%Oct 15, 2024Yield to maturity4.345%Oct 18, 2024Yield to maturity4.411%Oct 23, 2024Yield to maturity4.559%Oct 28, 2024Yield to maturity4.586%Oct 31, 2024Yield to maturity4.547%Nov 5, 2024Yield to maturity4.530%Nov 8, 2024Yield to maturity4.562%Nov 14, 2024Yield to maturity4.668%Nov 19, 2024Yield to maturity4.648%Nov 22, 2024Yield to maturity4.670%Nov 27, 2024Yield to maturity4.515%Dec 3, 2024Yield to maturity4.481%Dec 6, 2024Yield to maturity4.400%Dec 11, 2024Yield to maturity4.534%Dec 16, 2024Yield to maturity4.662%Dec 19, 2024Yield to maturity4.828%Dec 24, 2024Yield to maturity4.841%Dec 30, 2024Yield to maturity4.836%Jan 3, 2025Yield to maturity4.869%Jan 8, 2025Yield to maturity4.966%Jan 13, 2025Yield to maturity5.047%Jan 16, 2025Yield to maturity4.908%Jan 22, 2025Yield to maturity4.877%Jan 27, 2025Yield to maturity4.800%Jan 30, 2025Yield to maturity4.788%Feb 4, 2025Yield to maturity4.780%Feb 7, 2025Yield to maturity4.724%Feb 12, 2025Yield to maturity4.872%Feb 18, 2025Yield to maturity4.803%Feb 21, 2025Yield to maturity4.694%Feb 26, 2025Yield to maturity4.535%Mar 3, 2025Yield to maturity4.479%Mar 6, 2025Yield to maturity4.619%Mar 11, 2025Yield to maturity4.616%Mar 14, 2025Yield to maturity4.634%Mar 19, 2025Yield to maturity4.569%Mar 24, 2025Yield to maturity4.661%Mar 27, 2025Yield to maturity4.724%Apr 1, 2025Yield to maturity4.522%Apr 4, 2025Yield to maturity4.400%Apr 9, 2025Yield to maturity4.745%Apr 14, 2025Yield to maturity4.811%Apr 17, 2025Yield to maturity4.811%Apr 22, 2025Yield to maturity4.889%Apr 25, 2025Yield to maturity4.727%Apr 30, 2025Yield to maturity4.646%May 5, 2025Yield to maturity4.814%May 8, 2025Yield to maturity4.837%May 13, 2025Yield to maturity4.947%May 16, 2025Yield to maturity4.898%May 21, 2025Yield to maturity5.086%May 27, 2025Yield to maturity4.953%May 30, 2025Yield to maturity4.926%Jun 4, 2025Yield to maturity4.884%Jun 9, 2025Yield to maturity4.969%Jun 12, 2025Yield to maturity4.832%Jun 17, 2025Yield to maturity4.874%Jun 23, 2025Yield to maturity4.843%Jun 26, 2025Yield to maturity4.786%Jul 1, 2025Yield to maturity4.757%Jul 7, 2025Yield to maturity4.908%Jul 10, 2025Yield to maturity4.840%Jul 15, 2025Yield to maturity5.004%Jul 18, 2025Yield to maturity4.969%Jul 23, 2025Yield to maturity4.911%Jul 28, 2025Yield to maturity4.924%Jul 31, 2025Yield to maturity4.856%Aug 5, 2025Yield to maturity4.726%Aug 8, 2025Yield to maturity4.799%Aug 13, 2025Yield to maturity4.765%Aug 18, 2025Yield to maturity4.885%Aug 21, 2025Yield to maturity4.869%Aug 26, 2025Yield to maturity4.830%Aug 29, 2025Yield to maturity4.825%Sep 4, 2025Yield to maturity4.773%Sep 9, 2025Yield to maturity4.624%Sep 12, 2025Yield to maturity4.601%Sep 17, 2025Yield to maturity4.581%Sep 22, 2025Yield to maturity4.688%Sep 25, 2025Yield to maturity4.688%Sep 30, 2025Yield to maturity4.665%Oct 3, 2025Yield to maturity4.639%Oct 8, 2025Yield to maturity4.647%Oct 14, 2025Yield to maturity4.540%Oct 17, 2025Yield to maturity4.525%Oct 22, 2025Yield to maturity4.470%Oct 27, 2025Yield to maturity4.500%Oct 30, 2025Yield to maturity4.588%Nov 4, 2025Yield to maturity4.596%Nov 7, 2025Yield to maturity4.624%Nov 13, 2025Yield to maturity4.629%Nov 18, 2025Yield to maturity4.662%Nov 21, 2025Yield to maturity4.626%Nov 26, 2025Yield to maturity4.552%Dec 2, 2025Yield to maturity4.659%Dec 5, 2025Yield to maturity4.708%Dec 10, 2025Yield to maturity4.706%Dec 15, 2025Yield to maturity4.760%Dec 18, 2025Yield to maturity4.705%Dec 23, 2025Yield to maturity4.737%Dec 29, 2025Yield to maturity4.695%Jan 2, 2026Yield to maturity4.757%Jan 7, 2026Yield to maturity4.697%Jan 12, 2026Yield to maturity4.716%Jan 15, 2026Yield to maturity4.679%Jan 21, 2026Yield to maturity4.778%Jan 26, 2026Yield to maturity4.705%Jan 29, 2026Yield to maturity4.755%Feb 3, 2026Yield to maturity4.794%Feb 6, 2026Yield to maturity4.736%Feb 11, 2026Yield to maturity4.700%Feb 17, 2026Yield to maturity4.563%Feb 20, 2026Yield to maturity4.604%Feb 25, 2026Yield to maturity4.573%Mar 2, 2026Yield to maturity4.578%Mar 5, 2026Yield to maturity4.650%Mar 10, 2026Yield to maturity4.681%Mar 13, 2026Yield to maturity4.845%Mar 18, 2026Yield to maturity4.805%Mar 23, 2026Yield to maturity4.891%Mar 26, 2026Yield to maturity4.918%Mar 31, 2026Yield to maturity4.821%Apr 3, 2026Yield to maturity4.861%Apr 8, 2026Yield to maturity4.816%Apr 13, 2026Yield to maturity4.824%Apr 16, 2026Yield to maturity4.851%Apr 21, 2026Yield to maturity4.816%Apr 24, 2026Yield to maturity4.827%Apr 29, 2026Yield to maturity4.924%May 4, 2026Yield to maturity4.968%May 7, 2026Yield to maturity4.905%May 12, 2026Yield to maturity4.968%May 15, 2026Yield to maturity5.093%May 20, 2026Yield to maturity5.073%May 26, 2026Yield to maturity4.982%May 29, 2026Yield to maturity4.930%Jun 3, 2026Yield to maturity4.949%Jun 8, 2026Yield to maturity5.004%Jun 11, 2026Yield to maturity4.903%Jun 16, 2026Yield to maturity4.870%Jun 22, 2026Yield to maturity4.917%Jun 25, 2026Yield to maturity4.816%Jun 30, 2026Yield to maturity4.873%Jul 6, 2026Yield to maturity4.939%Jul 9, 2026Yield to maturity5.013%Jul 14, 2026Yield to maturity5.044%Jul 17, 2026Yield to maturity5.019%Jul 22, 2026Yield to maturity5.131%Jul 27, 2026Yield to maturity5.106%Jul 30, 2026Yield to maturity5.177%Aug 4, 2026Yield to maturity5.134%Aug 7, 2026Yield to maturity5.157%Aug 12, 2026Yield to maturity5.200%Aug 17, 2026Yield to maturity5.255%Aug 20, 2026Yield to maturity5.163%Aug 25, 2026Yield to maturity5.104%Aug 28, 2026Yield to maturity5.167%Sep 2, 2026Yield to maturity5.224%Sep 8, 2026Yield to maturity5.213%Sep 9, 2026Yield to maturity5.233%

Price history

695 trading days to Sep 9, 2026

9095100105110115Nov 30, 2023Sep 9, 2026Nov 30, 2023Close100.406Dec 5, 2023Close103.500Dec 8, 2023Close103.375Dec 13, 2023Close105.250Dec 18, 2023Close106.938Dec 21, 2023Close107.375Dec 27, 2023Close108.719Jan 2, 2024Close106.688Jan 5, 2024Close105.094Jan 10, 2024Close105.313Jan 16, 2024Close104.281Jan 19, 2024Close103.469Jan 24, 2024Close102.906Jan 29, 2024Close104.344Feb 1, 2024Close107.281Feb 6, 2024Close104.750Feb 9, 2024Close103.500Feb 14, 2024Close102.375Feb 20, 2024Close102.406Feb 23, 2024Close102.750Feb 28, 2024Close102.469Mar 4, 2024Close103.188Mar 7, 2024Close104.969Mar 12, 2024Close104.031Mar 15, 2024Close102.281Mar 20, 2024Close102.469Mar 25, 2024Close102.875Mar 28, 2024Close103.781Apr 2, 2024Close101.625Apr 5, 2024Close101.219Apr 10, 2024Close99.781Apr 15, 2024Close98.563Apr 18, 2024Close98.531Apr 23, 2024Close98.750Apr 26, 2024Close98.125May 1, 2024Close98.750May 6, 2024Close100.219May 9, 2024Close100.563May 14, 2024Close100.719May 17, 2024Close101.125May 22, 2024Close101.219May 28, 2024Close99.813May 31, 2024Close100.031Jun 5, 2024Close102.688Jun 10, 2024Close100.625Jun 13, 2024Close103.125Jun 18, 2024Close103.531Jun 24, 2024Close103.313Jun 27, 2024Close102.625Jul 2, 2024Close100.438Jul 8, 2024Close102.344Jul 11, 2024Close103.219Jul 16, 2024Close103.563Jul 19, 2024Close102.563Jul 24, 2024Close101.719Jul 29, 2024Close103.188Aug 1, 2024Close105.500Aug 6, 2024Close106.500Aug 9, 2024Close105.813Aug 14, 2024Close107.344Aug 19, 2024Close107.125Aug 22, 2024Close107.063Aug 27, 2024Close107.281Aug 30, 2024Close106.219Sep 5, 2024Close108.656Sep 10, 2024Close109.750Sep 13, 2024Close109.625Sep 18, 2024Close109.094Sep 23, 2024Close108.500Sep 26, 2024Close107.875Oct 1, 2024Close108.531Oct 4, 2024Close105.844Oct 9, 2024Close104.813Oct 15, 2024Close105.219Oct 18, 2024Close104.344Oct 23, 2024Close102.406Oct 28, 2024Close102.063Oct 31, 2024Close102.563Nov 5, 2024Close102.781Nov 8, 2024Close102.375Nov 14, 2024Close101.031Nov 19, 2024Close101.281Nov 22, 2024Close101.000Nov 27, 2024Close102.969Dec 3, 2024Close103.406Dec 6, 2024Close104.469Dec 11, 2024Close102.719Dec 16, 2024Close101.094Dec 19, 2024Close99.031Dec 24, 2024Close98.875Dec 30, 2024Close98.938Jan 3, 2025Close98.531Jan 8, 2025Close97.375Jan 13, 2025Close96.406Jan 16, 2025Close98.063Jan 22, 2025Close98.438Jan 27, 2025Close99.375Jan 30, 2025Close99.531Feb 4, 2025Close99.625Feb 7, 2025Close100.313Feb 12, 2025Close98.500Feb 18, 2025Close99.344Feb 21, 2025Close100.688Feb 26, 2025Close102.688Mar 3, 2025Close103.406Mar 6, 2025Close101.625Mar 11, 2025Close101.656Mar 14, 2025Close101.438Mar 19, 2025Close102.250Mar 24, 2025Close101.094Mar 27, 2025Close100.313Apr 1, 2025Close102.844Apr 4, 2025Close104.406Apr 9, 2025Close100.063Apr 14, 2025Close99.250Apr 17, 2025Close99.250Apr 22, 2025Close98.313Apr 25, 2025Close100.281Apr 30, 2025Close101.281May 5, 2025Close99.219May 8, 2025Close98.938May 13, 2025Close97.625May 16, 2025Close98.219May 21, 2025Close96.000May 27, 2025Close97.563May 30, 2025Close97.875Jun 4, 2025Close98.375Jun 9, 2025Close97.375Jun 12, 2025Close99.000Jun 17, 2025Close98.500Jun 23, 2025Close98.875Jun 26, 2025Close99.563Jul 1, 2025Close99.906Jul 7, 2025Close98.094Jul 10, 2025Close98.906Jul 15, 2025Close96.969Jul 18, 2025Close97.375Jul 23, 2025Close98.063Jul 28, 2025Close97.906Jul 31, 2025Close98.719Aug 5, 2025Close100.281Aug 8, 2025Close99.406Aug 13, 2025Close99.813Aug 18, 2025Close98.375Aug 21, 2025Close98.563Aug 26, 2025Close99.031Aug 29, 2025Close99.094Sep 4, 2025Close99.719Sep 9, 2025Close101.531Sep 12, 2025Close101.813Sep 17, 2025Close102.063Sep 22, 2025Close100.750Sep 25, 2025Close100.750Sep 30, 2025Close101.031Oct 3, 2025Close101.344Oct 8, 2025Close101.250Oct 14, 2025Close102.563Oct 17, 2025Close102.750Oct 22, 2025Close103.438Oct 27, 2025Close103.063Oct 30, 2025Close101.969Nov 4, 2025Close101.875Nov 7, 2025Close101.531Nov 13, 2025Close101.469Nov 18, 2025Close101.063Nov 21, 2025Close101.500Nov 26, 2025Close102.406Dec 2, 2025Close101.094Dec 5, 2025Close100.500Dec 10, 2025Close100.531Dec 15, 2025Close99.875Dec 18, 2025Close100.531Dec 23, 2025Close100.156Dec 29, 2025Close100.656Jan 2, 2026Close99.906Jan 7, 2026Close100.625Jan 12, 2026Close100.406Jan 15, 2026Close100.844Jan 21, 2026Close99.656Jan 26, 2026Close100.531Jan 29, 2026Close99.938Feb 3, 2026Close99.469Feb 6, 2026Close100.156Feb 11, 2026Close100.594Feb 17, 2026Close102.250Feb 20, 2026Close101.750Feb 25, 2026Close102.125Mar 2, 2026Close102.063Mar 5, 2026Close101.188Mar 10, 2026Close100.813Mar 13, 2026Close98.875Mar 18, 2026Close99.344Mar 23, 2026Close98.344Mar 26, 2026Close98.031Mar 31, 2026Close99.156Apr 3, 2026Close98.688Apr 8, 2026Close99.219Apr 13, 2026Close99.125Apr 16, 2026Close98.813Apr 21, 2026Close99.219Apr 24, 2026Close99.094Apr 29, 2026Close97.969May 4, 2026Close97.469May 7, 2026Close98.188May 12, 2026Close97.469May 15, 2026Close96.063May 20, 2026Close96.281May 26, 2026Close97.313May 29, 2026Close97.906Jun 3, 2026Close97.688Jun 8, 2026Close97.063Jun 11, 2026Close98.219Jun 16, 2026Close98.594Jun 22, 2026Close98.063Jun 25, 2026Close99.219Jun 30, 2026Close98.563Jul 6, 2026Close97.813Jul 9, 2026Close96.969Jul 14, 2026Close96.625Jul 17, 2026Close96.906Jul 22, 2026Close95.656Jul 27, 2026Close95.938Jul 30, 2026Close95.156Aug 4, 2026Close95.625Aug 7, 2026Close95.375Aug 12, 2026Close94.906Aug 17, 2026Close94.313Aug 20, 2026Close95.313Aug 25, 2026Close95.969Aug 28, 2026Close95.281Sep 2, 2026Close94.656Sep 8, 2026Close94.781Sep 9, 2026Close94.563
The most recent 20 trading days of prices for 912810TW8.
DateBidOfferClose
Sep 9, 202694.28194.25094.563
Sep 8, 202694.96994.93894.781
Sep 4, 202695.00094.96994.938
Sep 3, 202695.14195.12594.938
Sep 2, 202694.64194.62594.656
Sep 1, 202694.96994.93894.656
Aug 31, 202694.85994.81394.969
Aug 28, 202695.64195.62595.281
Aug 27, 202695.84495.81395.625
Aug 26, 202695.82895.81395.781
Aug 25, 202695.90695.87595.969
Aug 24, 202695.46995.43895.281
Aug 21, 202694.90694.87594.781
Aug 20, 202695.12595.09495.313
Aug 19, 202695.57895.56395.719
Aug 18, 202694.48494.46994.625
Aug 17, 202694.62594.59494.313
Aug 14, 202694.84494.81394.844
Aug 13, 202695.37595.34495.406
Aug 12, 202695.09495.06394.906

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 912810TW8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 20, 2023Nov 30, 2023New issue$16.0bn$16.2bn2.58x4.780%
Dec 20, 2023Jan 2, 2024Reopening$13.0bn$13.0bn2.55x4.213%
Jan 17, 2024Jan 31, 2024Reopening$13.0bn$13.0bn2.53x4.423%

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.