Treasury bond

912810TX6 · 4.25% due February 15, 2054

Original term
30-Year
Maturity
Feb 15, 2054
Coupon
4.250%
Pays
Semi-Annual
Dated
Feb 15, 2024
First coupon
Aug 15, 2024
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$71.20bn
Held stripped
$18.65bn
Share stripped
26.20%

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
5.317%
Modified duration
14.992 yr
DV01
0.1274
Convexity
324.226
Dirty price
84.988

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 15.108 years against a modified duration of 14.992.

Against the fitted curve

Priced 0.3 bp rich to the curve on that day, 4.38 cents per 100 of face.

That is 0.75 standard deviations from its own typical residual.

Yield to maturity, 643 observations

3.75%4.00%4.25%4.50%4.75%5.00%5.25%5.50%Feb 15, 2024Sep 9, 2026Feb 15, 2024Yield to maturity4.420%Feb 21, 2024Yield to maturity4.490%Feb 26, 2024Yield to maturity4.403%Feb 29, 2024Yield to maturity4.376%Mar 5, 2024Yield to maturity4.270%Mar 8, 2024Yield to maturity4.259%Mar 13, 2024Yield to maturity4.347%Mar 18, 2024Yield to maturity4.463%Mar 21, 2024Yield to maturity4.443%Mar 26, 2024Yield to maturity4.401%Mar 29, 2024Yield to maturity4.344%Apr 3, 2024Yield to maturity4.510%Apr 8, 2024Yield to maturity4.550%Apr 11, 2024Yield to maturity4.651%Apr 16, 2024Yield to maturity4.769%Apr 19, 2024Yield to maturity4.713%Apr 24, 2024Yield to maturity4.777%Apr 29, 2024Yield to maturity4.750%May 2, 2024Yield to maturity4.721%May 7, 2024Yield to maturity4.606%May 10, 2024Yield to maturity4.651%May 15, 2024Yield to maturity4.520%May 20, 2024Yield to maturity4.582%May 23, 2024Yield to maturity4.582%May 29, 2024Yield to maturity4.738%Jun 3, 2024Yield to maturity4.555%Jun 6, 2024Yield to maturity4.432%Jun 11, 2024Yield to maturity4.535%Jun 14, 2024Yield to maturity4.348%Jun 20, 2024Yield to maturity4.394%Jun 25, 2024Yield to maturity4.367%Jun 28, 2024Yield to maturity4.517%Jul 3, 2024Yield to maturity4.533%Jul 9, 2024Yield to maturity4.494%Jul 12, 2024Yield to maturity4.398%Jul 17, 2024Yield to maturity4.371%Jul 22, 2024Yield to maturity4.480%Jul 25, 2024Yield to maturity4.508%Jul 30, 2024Yield to maturity4.406%Aug 2, 2024Yield to maturity4.114%Aug 7, 2024Yield to maturity4.267%Aug 12, 2024Yield to maturity4.209%Aug 15, 2024Yield to maturity4.189%Aug 20, 2024Yield to maturity4.087%Aug 23, 2024Yield to maturity4.114%Aug 28, 2024Yield to maturity4.146%Sep 3, 2024Yield to maturity4.141%Sep 6, 2024Yield to maturity4.040%Sep 11, 2024Yield to maturity3.975%Sep 16, 2024Yield to maturity3.950%Sep 19, 2024Yield to maturity4.074%Sep 24, 2024Yield to maturity4.101%Sep 27, 2024Yield to maturity4.110%Oct 2, 2024Yield to maturity4.144%Oct 7, 2024Yield to maturity4.316%Oct 10, 2024Yield to maturity4.391%Oct 16, 2024Yield to maturity4.310%Oct 21, 2024Yield to maturity4.493%Oct 24, 2024Yield to maturity4.477%Oct 29, 2024Yield to maturity4.529%Nov 1, 2024Yield to maturity4.573%Nov 6, 2024Yield to maturity4.620%Nov 12, 2024Yield to maturity4.601%Nov 15, 2024Yield to maturity4.622%Nov 20, 2024Yield to maturity4.614%Nov 25, 2024Yield to maturity4.469%Nov 29, 2024Yield to maturity4.381%Dec 4, 2024Yield to maturity4.370%Dec 9, 2024Yield to maturity4.405%Dec 12, 2024Yield to maturity4.567%Dec 17, 2024Yield to maturity4.606%Dec 20, 2024Yield to maturity4.735%Dec 26, 2024Yield to maturity4.779%Dec 31, 2024Yield to maturity4.803%Jan 6, 2025Yield to maturity4.863%Jan 9, 2025Yield to maturity4.949%Jan 14, 2025Yield to maturity5.000%Jan 17, 2025Yield to maturity4.862%Jan 23, 2025Yield to maturity4.888%Jan 28, 2025Yield to maturity4.806%Jan 31, 2025Yield to maturity4.851%Feb 5, 2025Yield to maturity4.659%Feb 10, 2025Yield to maturity4.734%Feb 13, 2025Yield to maturity4.753%Feb 19, 2025Yield to maturity4.792%Feb 24, 2025Yield to maturity4.686%Feb 27, 2025Yield to maturity4.585%Mar 4, 2025Yield to maturity4.557%Mar 7, 2025Yield to maturity4.647%Mar 12, 2025Yield to maturity4.665%Mar 17, 2025Yield to maturity4.632%Mar 20, 2025Yield to maturity4.583%Mar 25, 2025Yield to maturity4.684%Mar 28, 2025Yield to maturity4.670%Apr 2, 2025Yield to maturity4.573%Apr 7, 2025Yield to maturity4.608%Apr 10, 2025Yield to maturity4.901%Apr 15, 2025Yield to maturity4.821%Apr 18, 2025Yield to maturity4.834%Apr 23, 2025Yield to maturity4.866%Apr 28, 2025Yield to maturity4.723%May 1, 2025Yield to maturity4.769%May 6, 2025Yield to maturity4.845%May 9, 2025Yield to maturity4.880%May 14, 2025Yield to maturity5.011%May 19, 2025Yield to maturity4.957%May 22, 2025Yield to maturity5.088%May 28, 2025Yield to maturity5.007%Jun 2, 2025Yield to maturity5.030%Jun 5, 2025Yield to maturity4.920%Jun 10, 2025Yield to maturity4.971%Jun 13, 2025Yield to maturity4.947%Jun 18, 2025Yield to maturity4.918%Jun 24, 2025Yield to maturity4.868%Jun 27, 2025Yield to maturity4.879%Jul 2, 2025Yield to maturity4.855%Jul 8, 2025Yield to maturity4.975%Jul 11, 2025Yield to maturity4.993%Jul 16, 2025Yield to maturity5.043%Jul 21, 2025Yield to maturity4.969%Jul 24, 2025Yield to maturity4.984%Jul 29, 2025Yield to maturity4.891%Aug 1, 2025Yield to maturity4.826%Aug 6, 2025Yield to maturity4.828%Aug 11, 2025Yield to maturity4.868%Aug 14, 2025Yield to maturity4.903%Aug 19, 2025Yield to maturity4.925%Aug 22, 2025Yield to maturity4.901%Aug 27, 2025Yield to maturity4.939%Sep 2, 2025Yield to maturity4.997%Sep 5, 2025Yield to maturity4.788%Sep 10, 2025Yield to maturity4.701%Sep 15, 2025Yield to maturity4.673%Sep 18, 2025Yield to maturity4.739%Sep 23, 2025Yield to maturity4.748%Sep 26, 2025Yield to maturity4.784%Oct 1, 2025Yield to maturity4.737%Oct 6, 2025Yield to maturity4.782%Oct 9, 2025Yield to maturity4.744%Oct 15, 2025Yield to maturity4.649%Oct 20, 2025Yield to maturity4.593%Oct 23, 2025Yield to maturity4.597%Oct 28, 2025Yield to maturity4.566%Oct 31, 2025Yield to maturity4.687%Nov 5, 2025Yield to maturity4.757%Nov 10, 2025Yield to maturity4.727%Nov 14, 2025Yield to maturity4.770%Nov 19, 2025Yield to maturity4.772%Nov 24, 2025Yield to maturity4.702%Nov 28, 2025Yield to maturity4.685%Dec 3, 2025Yield to maturity4.749%Dec 8, 2025Yield to maturity4.836%Dec 11, 2025Yield to maturity4.814%Dec 16, 2025Yield to maturity4.843%Dec 19, 2025Yield to maturity4.852%Dec 24, 2025Yield to maturity4.821%Dec 30, 2025Yield to maturity4.834%Jan 5, 2026Yield to maturity4.874%Jan 8, 2026Yield to maturity4.881%Jan 13, 2026Yield to maturity4.852%Jan 16, 2026Yield to maturity4.855%Jan 22, 2026Yield to maturity4.866%Jan 27, 2026Yield to maturity4.857%Jan 30, 2026Yield to maturity4.895%Feb 4, 2026Yield to maturity4.940%Feb 9, 2026Yield to maturity4.871%Feb 12, 2026Yield to maturity4.749%Feb 18, 2026Yield to maturity4.736%Feb 23, 2026Yield to maturity4.726%Feb 26, 2026Yield to maturity4.688%Mar 3, 2026Yield to maturity4.726%Mar 6, 2026Yield to maturity4.795%Mar 11, 2026Yield to maturity4.889%Mar 16, 2026Yield to maturity4.890%Mar 19, 2026Yield to maturity4.867%Mar 24, 2026Yield to maturity4.975%Mar 27, 2026Yield to maturity5.018%Apr 1, 2026Yield to maturity4.948%Apr 6, 2026Yield to maturity4.921%Apr 9, 2026Yield to maturity4.930%Apr 14, 2026Yield to maturity4.899%Apr 17, 2026Yield to maturity4.915%Apr 22, 2026Yield to maturity4.928%Apr 27, 2026Yield to maturity4.974%Apr 30, 2026Yield to maturity5.015%May 5, 2026Yield to maturity5.017%May 8, 2026Yield to maturity4.979%May 13, 2026Yield to maturity5.073%May 18, 2026Yield to maturity5.174%May 21, 2026Yield to maturity5.134%May 27, 2026Yield to maturity5.053%Jun 1, 2026Yield to maturity5.025%Jun 4, 2026Yield to maturity5.012%Jun 9, 2026Yield to maturity5.046%Jun 12, 2026Yield to maturity5.010%Jun 17, 2026Yield to maturity4.969%Jun 23, 2026Yield to maturity4.980%Jun 26, 2026Yield to maturity4.904%Jul 1, 2026Yield to maturity5.006%Jul 7, 2026Yield to maturity5.087%Jul 10, 2026Yield to maturity5.106%Jul 15, 2026Yield to maturity5.115%Jul 20, 2026Yield to maturity5.148%Jul 23, 2026Yield to maturity5.210%Jul 28, 2026Yield to maturity5.132%Jul 31, 2026Yield to maturity5.313%Aug 5, 2026Yield to maturity5.218%Aug 10, 2026Yield to maturity5.291%Aug 13, 2026Yield to maturity5.252%Aug 18, 2026Yield to maturity5.331%Aug 21, 2026Yield to maturity5.314%Aug 26, 2026Yield to maturity5.219%Aug 31, 2026Yield to maturity5.285%Sep 3, 2026Yield to maturity5.285%Sep 9, 2026Yield to maturity5.317%

Price history

643 trading days to Sep 9, 2026

80859095100105110Feb 15, 2024Sep 9, 2026Feb 15, 2024Close97.188Feb 21, 2024Close96.063Feb 26, 2024Close97.469Feb 29, 2024Close97.906Mar 5, 2024Close99.656Mar 8, 2024Close99.844Mar 13, 2024Close98.375Mar 18, 2024Close96.500Mar 21, 2024Close96.813Mar 26, 2024Close97.500Mar 29, 2024Close98.438Apr 3, 2024Close95.750Apr 8, 2024Close95.125Apr 11, 2024Close93.563Apr 16, 2024Close91.781Apr 19, 2024Close92.625Apr 24, 2024Close91.656Apr 29, 2024Close92.063May 2, 2024Close92.500May 7, 2024Close94.250May 10, 2024Close93.563May 15, 2024Close95.594May 20, 2024Close94.625May 23, 2024Close94.625May 29, 2024Close92.250Jun 3, 2024Close95.063Jun 6, 2024Close97.000Jun 11, 2024Close95.375Jun 14, 2024Close98.375Jun 20, 2024Close97.625Jun 25, 2024Close98.063Jun 28, 2024Close95.656Jul 3, 2024Close95.406Jul 9, 2024Close96.031Jul 12, 2024Close97.563Jul 17, 2024Close98.000Jul 22, 2024Close96.250Jul 25, 2024Close95.813Jul 30, 2024Close97.438Aug 2, 2024Close102.313Aug 7, 2024Close99.719Aug 12, 2024Close100.688Aug 15, 2024Close101.031Aug 20, 2024Close102.781Aug 23, 2024Close102.313Aug 28, 2024Close101.750Sep 3, 2024Close101.844Sep 6, 2024Close103.594Sep 11, 2024Close104.750Sep 16, 2024Close105.188Sep 19, 2024Close103.000Sep 24, 2024Close102.531Sep 27, 2024Close102.375Oct 2, 2024Close101.781Oct 7, 2024Close98.906Oct 10, 2024Close97.688Oct 16, 2024Close99.000Oct 21, 2024Close96.063Oct 24, 2024Close96.313Oct 29, 2024Close95.500Nov 1, 2024Close94.813Nov 6, 2024Close94.094Nov 12, 2024Close94.375Nov 15, 2024Close94.063Nov 20, 2024Close94.188Nov 25, 2024Close96.438Nov 29, 2024Close97.844Dec 4, 2024Close98.031Dec 9, 2024Close97.469Dec 12, 2024Close94.906Dec 17, 2024Close94.313Dec 20, 2024Close92.375Dec 26, 2024Close91.719Dec 31, 2024Close91.375Jan 6, 2025Close90.500Jan 9, 2025Close89.281Jan 14, 2025Close88.563Jan 17, 2025Close90.531Jan 23, 2025Close90.156Jan 28, 2025Close91.344Jan 31, 2025Close90.688Feb 5, 2025Close93.531Feb 10, 2025Close92.406Feb 13, 2025Close92.125Feb 19, 2025Close91.563Feb 24, 2025Close93.125Feb 27, 2025Close94.656Mar 4, 2025Close95.094Mar 7, 2025Close93.719Mar 12, 2025Close93.438Mar 17, 2025Close93.938Mar 20, 2025Close94.688Mar 25, 2025Close93.156Mar 28, 2025Close93.375Apr 2, 2025Close94.844Apr 7, 2025Close94.313Apr 10, 2025Close90.000Apr 15, 2025Close91.156Apr 18, 2025Close90.969Apr 23, 2025Close90.500Apr 28, 2025Close92.594May 1, 2025Close91.906May 6, 2025Close90.813May 9, 2025Close90.313May 14, 2025Close88.469May 19, 2025Close89.219May 22, 2025Close87.406May 28, 2025Close88.531Jun 2, 2025Close88.219Jun 5, 2025Close89.750Jun 10, 2025Close89.031Jun 13, 2025Close89.375Jun 18, 2025Close89.781Jun 24, 2025Close90.500Jun 27, 2025Close90.344Jul 2, 2025Close90.688Jul 8, 2025Close89.000Jul 11, 2025Close88.750Jul 16, 2025Close88.063Jul 21, 2025Close89.094Jul 24, 2025Close88.875Jul 29, 2025Close90.188Aug 1, 2025Close91.125Aug 6, 2025Close91.094Aug 11, 2025Close90.531Aug 14, 2025Close90.031Aug 19, 2025Close89.719Aug 22, 2025Close90.063Aug 27, 2025Close89.531Sep 2, 2025Close88.719Sep 5, 2025Close91.688Sep 10, 2025Close92.969Sep 15, 2025Close93.375Sep 18, 2025Close92.406Sep 23, 2025Close92.281Sep 26, 2025Close91.750Oct 1, 2025Close92.438Oct 6, 2025Close91.781Oct 9, 2025Close92.344Oct 15, 2025Close93.750Oct 20, 2025Close94.594Oct 23, 2025Close94.531Oct 28, 2025Close95.000Oct 31, 2025Close93.188Nov 5, 2025Close92.156Nov 10, 2025Close92.594Nov 14, 2025Close91.969Nov 19, 2025Close91.938Nov 24, 2025Close92.969Nov 28, 2025Close93.219Dec 3, 2025Close92.281Dec 8, 2025Close91.031Dec 11, 2025Close91.344Dec 16, 2025Close90.938Dec 19, 2025Close90.813Dec 24, 2025Close91.250Dec 30, 2025Close91.063Jan 5, 2026Close90.500Jan 8, 2026Close90.406Jan 13, 2026Close90.813Jan 16, 2026Close90.781Jan 22, 2026Close90.625Jan 27, 2026Close90.750Jan 30, 2026Close90.219Feb 4, 2026Close89.594Feb 9, 2026Close90.563Feb 12, 2026Close92.313Feb 18, 2026Close92.500Feb 23, 2026Close92.656Feb 26, 2026Close93.219Mar 3, 2026Close92.656Mar 6, 2026Close91.656Mar 11, 2026Close90.313Mar 16, 2026Close90.313Mar 19, 2026Close90.625Mar 24, 2026Close89.125Mar 27, 2026Close88.531Apr 1, 2026Close89.500Apr 6, 2026Close89.875Apr 9, 2026Close89.750Apr 14, 2026Close90.188Apr 17, 2026Close89.969Apr 22, 2026Close89.781Apr 27, 2026Close89.156Apr 30, 2026Close88.594May 5, 2026Close88.563May 8, 2026Close89.094May 13, 2026Close87.813May 18, 2026Close86.469May 21, 2026Close87.000May 27, 2026Close88.094Jun 1, 2026Close88.469Jun 4, 2026Close88.656Jun 9, 2026Close88.188Jun 12, 2026Close88.688Jun 17, 2026Close89.250Jun 23, 2026Close89.094Jun 26, 2026Close90.156Jul 1, 2026Close88.750Jul 7, 2026Close87.656Jul 10, 2026Close87.406Jul 15, 2026Close87.281Jul 20, 2026Close86.844Jul 23, 2026Close86.031Jul 28, 2026Close87.063Jul 31, 2026Close84.719Aug 5, 2026Close85.938Aug 10, 2026Close85.000Aug 13, 2026Close85.500Aug 18, 2026Close84.500Aug 21, 2026Close84.719Aug 26, 2026Close85.938Aug 31, 2026Close85.094Sep 3, 2026Close85.094Sep 9, 2026Close84.688
The most recent 20 trading days of prices for 912810TX6.
DateBidOfferClose
Sep 9, 202684.46984.43884.688
Sep 8, 202685.15685.12585.000
Sep 4, 202685.18885.15685.125
Sep 3, 202685.31385.28185.094
Sep 2, 202684.81384.78184.813
Sep 1, 202685.14185.12584.813
Aug 31, 202684.92284.90685.094
Aug 28, 202685.93885.90685.500
Aug 27, 202686.01686.00085.844
Aug 26, 202685.98485.96985.938
Aug 25, 202686.00085.96986.094
Aug 24, 202685.51685.50085.313
Aug 21, 202684.85984.84484.719
Aug 20, 202685.07885.06385.281
Aug 19, 202685.59485.56385.719
Aug 18, 202684.35984.34484.500
Aug 17, 202684.54784.53184.219
Aug 14, 202684.81384.78184.906
Aug 13, 202685.48485.46985.500
Aug 12, 202685.25085.21985.031

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 912810TX6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 8, 2024Feb 15, 2024New issue$25.0bn$26.8bn2.40x4.360%
Mar 13, 2024Mar 15, 2024Reopening$22.0bn$22.0bn2.47x4.331%
Apr 11, 2024Apr 15, 2024Reopening$22.0bn$22.4bn2.37x4.671%

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.