Treasury bond

912810UD8 · 4.125% due August 15, 2044

Original term
20-Year
Maturity
Aug 15, 2044
Coupon
4.125%
Pays
Semi-Annual
Dated
Aug 15, 2024
First coupon
Feb 15, 2025
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$43.76bn
Held stripped
$8.6m
Share stripped
0.02%

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
5.274%
Modified duration
12.054 yr
DV01
0.1050
Convexity
188.773
Dirty price
87.073

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 12.254 years against a modified duration of 12.054.

Against the fitted curve

Priced 2.7 bp cheap to the curve on that day, 28.23 cents per 100 of face.

That is -0.20 standard deviations from its own typical residual.

Yield to maturity, 505 observations

4.00%4.25%4.50%4.75%5.00%5.25%5.50%Sep 3, 2024Sep 9, 2026Sep 3, 2024Yield to maturity4.209%Sep 6, 2024Yield to maturity4.099%Sep 11, 2024Yield to maturity4.033%Sep 16, 2024Yield to maturity4.006%Sep 19, 2024Yield to maturity4.115%Sep 24, 2024Yield to maturity4.129%Sep 27, 2024Yield to maturity4.148%Oct 2, 2024Yield to maturity4.192%Oct 7, 2024Yield to maturity4.378%Oct 10, 2024Yield to maturity4.439%Oct 16, 2024Yield to maturity4.367%Oct 21, 2024Yield to maturity4.546%Oct 24, 2024Yield to maturity4.549%Oct 29, 2024Yield to maturity4.622%Nov 1, 2024Yield to maturity4.683%Nov 6, 2024Yield to maturity4.714%Nov 12, 2024Yield to maturity4.707%Nov 15, 2024Yield to maturity4.710%Nov 20, 2024Yield to maturity4.697%Nov 25, 2024Yield to maturity4.568%Nov 29, 2024Yield to maturity4.480%Dec 4, 2024Yield to maturity4.476%Dec 9, 2024Yield to maturity4.496%Dec 12, 2024Yield to maturity4.649%Dec 17, 2024Yield to maturity4.706%Dec 20, 2024Yield to maturity4.832%Dec 26, 2024Yield to maturity4.872%Dec 31, 2024Yield to maturity4.875%Jan 6, 2025Yield to maturity4.923%Jan 9, 2025Yield to maturity5.002%Jan 14, 2025Yield to maturity5.076%Jan 17, 2025Yield to maturity4.932%Jan 23, 2025Yield to maturity4.946%Jan 28, 2025Yield to maturity4.855%Jan 31, 2025Yield to maturity4.890%Feb 5, 2025Yield to maturity4.704%Feb 10, 2025Yield to maturity4.769%Feb 13, 2025Yield to maturity4.798%Feb 19, 2025Yield to maturity4.828%Feb 24, 2025Yield to maturity4.723%Feb 27, 2025Yield to maturity4.620%Mar 4, 2025Yield to maturity4.587%Mar 7, 2025Yield to maturity4.685%Mar 12, 2025Yield to maturity4.690%Mar 17, 2025Yield to maturity4.657%Mar 20, 2025Yield to maturity4.598%Mar 25, 2025Yield to maturity4.691%Mar 28, 2025Yield to maturity4.665%Apr 2, 2025Yield to maturity4.591%Apr 7, 2025Yield to maturity4.622%Apr 10, 2025Yield to maturity4.919%Apr 15, 2025Yield to maturity4.836%Apr 18, 2025Yield to maturity4.850%Apr 23, 2025Yield to maturity4.874%Apr 28, 2025Yield to maturity4.724%May 1, 2025Yield to maturity4.763%May 6, 2025Yield to maturity4.835%May 9, 2025Yield to maturity4.878%May 14, 2025Yield to maturity5.017%May 19, 2025Yield to maturity4.965%May 22, 2025Yield to maturity5.092%May 28, 2025Yield to maturity5.021%Jun 2, 2025Yield to maturity5.021%Jun 5, 2025Yield to maturity4.923%Jun 10, 2025Yield to maturity4.978%Jun 13, 2025Yield to maturity4.943%Jun 18, 2025Yield to maturity4.908%Jun 24, 2025Yield to maturity4.844%Jun 27, 2025Yield to maturity4.857%Jul 2, 2025Yield to maturity4.844%Jul 8, 2025Yield to maturity4.956%Jul 11, 2025Yield to maturity4.973%Jul 16, 2025Yield to maturity5.022%Jul 21, 2025Yield to maturity4.940%Jul 24, 2025Yield to maturity4.963%Jul 29, 2025Yield to maturity4.868%Aug 1, 2025Yield to maturity4.790%Aug 6, 2025Yield to maturity4.799%Aug 11, 2025Yield to maturity4.829%Aug 14, 2025Yield to maturity4.861%Aug 19, 2025Yield to maturity4.888%Aug 22, 2025Yield to maturity4.859%Aug 27, 2025Yield to maturity4.881%Sep 2, 2025Yield to maturity4.927%Sep 5, 2025Yield to maturity4.721%Sep 10, 2025Yield to maturity4.639%Sep 15, 2025Yield to maturity4.621%Sep 18, 2025Yield to maturity4.692%Sep 23, 2025Yield to maturity4.698%Sep 26, 2025Yield to maturity4.746%Oct 1, 2025Yield to maturity4.685%Oct 6, 2025Yield to maturity4.730%Oct 9, 2025Yield to maturity4.696%Oct 15, 2025Yield to maturity4.607%Oct 20, 2025Yield to maturity4.548%Oct 23, 2025Yield to maturity4.550%Oct 28, 2025Yield to maturity4.522%Oct 31, 2025Yield to maturity4.642%Nov 5, 2025Yield to maturity4.713%Nov 10, 2025Yield to maturity4.682%Nov 14, 2025Yield to maturity4.719%Nov 19, 2025Yield to maturity4.714%Nov 24, 2025Yield to maturity4.635%Nov 28, 2025Yield to maturity4.625%Dec 3, 2025Yield to maturity4.683%Dec 8, 2025Yield to maturity4.785%Dec 11, 2025Yield to maturity4.755%Dec 16, 2025Yield to maturity4.772%Dec 19, 2025Yield to maturity4.780%Dec 24, 2025Yield to maturity4.754%Dec 30, 2025Yield to maturity4.751%Jan 5, 2026Yield to maturity4.781%Jan 8, 2026Yield to maturity4.784%Jan 13, 2026Yield to maturity4.757%Jan 16, 2026Yield to maturity4.774%Jan 22, 2026Yield to maturity4.793%Jan 27, 2026Yield to maturity4.780%Jan 30, 2026Yield to maturity4.810%Feb 4, 2026Yield to maturity4.851%Feb 9, 2026Yield to maturity4.776%Feb 12, 2026Yield to maturity4.655%Feb 18, 2026Yield to maturity4.640%Feb 23, 2026Yield to maturity4.616%Feb 26, 2026Yield to maturity4.587%Mar 3, 2026Yield to maturity4.632%Mar 6, 2026Yield to maturity4.723%Mar 11, 2026Yield to maturity4.815%Mar 16, 2026Yield to maturity4.824%Mar 19, 2026Yield to maturity4.819%Mar 24, 2026Yield to maturity4.960%Mar 27, 2026Yield to maturity4.997%Apr 1, 2026Yield to maturity4.905%Apr 6, 2026Yield to maturity4.880%Apr 9, 2026Yield to maturity4.869%Apr 14, 2026Yield to maturity4.828%Apr 17, 2026Yield to maturity4.837%Apr 22, 2026Yield to maturity4.867%Apr 27, 2026Yield to maturity4.907%Apr 30, 2026Yield to maturity4.963%May 5, 2026Yield to maturity4.971%May 8, 2026Yield to maturity4.916%May 13, 2026Yield to maturity5.017%May 18, 2026Yield to maturity5.138%May 21, 2026Yield to maturity5.095%May 27, 2026Yield to maturity5.004%Jun 1, 2026Yield to maturity4.979%Jun 4, 2026Yield to maturity4.971%Jun 9, 2026Yield to maturity5.014%Jun 12, 2026Yield to maturity4.972%Jun 17, 2026Yield to maturity4.941%Jun 23, 2026Yield to maturity4.948%Jun 26, 2026Yield to maturity4.850%Jul 1, 2026Yield to maturity4.960%Jul 7, 2026Yield to maturity5.042%Jul 10, 2026Yield to maturity5.069%Jul 15, 2026Yield to maturity5.063%Jul 20, 2026Yield to maturity5.104%Jul 23, 2026Yield to maturity5.200%Jul 28, 2026Yield to maturity5.102%Jul 31, 2026Yield to maturity5.287%Aug 5, 2026Yield to maturity5.170%Aug 10, 2026Yield to maturity5.253%Aug 13, 2026Yield to maturity5.194%Aug 18, 2026Yield to maturity5.271%Aug 21, 2026Yield to maturity5.251%Aug 26, 2026Yield to maturity5.163%Aug 31, 2026Yield to maturity5.237%Sep 3, 2026Yield to maturity5.237%Sep 9, 2026Yield to maturity5.274%

Price history

505 trading days to Sep 9, 2026

85.087.590.092.595.097.5100.0102.5Sep 3, 2024Sep 9, 2026Sep 3, 2024Close98.875Sep 6, 2024Close100.344Sep 11, 2024Close101.250Sep 16, 2024Close101.625Sep 19, 2024Close100.125Sep 24, 2024Close99.938Sep 27, 2024Close99.688Oct 2, 2024Close99.094Oct 7, 2024Close96.656Oct 10, 2024Close95.875Oct 16, 2024Close96.813Oct 21, 2024Close94.531Oct 24, 2024Close94.500Oct 29, 2024Close93.594Nov 1, 2024Close92.844Nov 6, 2024Close92.469Nov 12, 2024Close92.563Nov 15, 2024Close92.531Nov 20, 2024Close92.688Nov 25, 2024Close94.281Nov 29, 2024Close95.375Dec 4, 2024Close95.438Dec 9, 2024Close95.188Dec 12, 2024Close93.281Dec 17, 2024Close92.594Dec 20, 2024Close91.094Dec 26, 2024Close90.625Dec 31, 2024Close90.594Jan 6, 2025Close90.031Jan 9, 2025Close89.125Jan 14, 2025Close88.281Jan 17, 2025Close89.938Jan 23, 2025Close89.781Jan 28, 2025Close90.844Jan 31, 2025Close90.438Feb 5, 2025Close92.656Feb 10, 2025Close91.875Feb 13, 2025Close91.531Feb 19, 2025Close91.188Feb 24, 2025Close92.438Feb 27, 2025Close93.688Mar 4, 2025Close94.094Mar 7, 2025Close92.906Mar 12, 2025Close92.844Mar 17, 2025Close93.250Mar 20, 2025Close93.969Mar 25, 2025Close92.844Mar 28, 2025Close93.156Apr 2, 2025Close94.063Apr 7, 2025Close93.688Apr 10, 2025Close90.156Apr 15, 2025Close91.125Apr 18, 2025Close90.969Apr 23, 2025Close90.688Apr 28, 2025Close92.469May 1, 2025Close92.000May 6, 2025Close91.156May 9, 2025Close90.656May 14, 2025Close89.063May 19, 2025Close89.656May 22, 2025Close88.219May 28, 2025Close89.031Jun 2, 2025Close89.031Jun 5, 2025Close90.156Jun 10, 2025Close89.531Jun 13, 2025Close89.938Jun 18, 2025Close90.344Jun 24, 2025Close91.094Jun 27, 2025Close90.938Jul 2, 2025Close91.094Jul 8, 2025Close89.813Jul 11, 2025Close89.625Jul 16, 2025Close89.063Jul 21, 2025Close90.000Jul 24, 2025Close89.750Jul 29, 2025Close90.844Aug 1, 2025Close91.750Aug 6, 2025Close91.656Aug 11, 2025Close91.313Aug 14, 2025Close90.938Aug 19, 2025Close90.625Aug 22, 2025Close90.969Aug 27, 2025Close90.719Sep 2, 2025Close90.188Sep 5, 2025Close92.594Sep 10, 2025Close93.563Sep 15, 2025Close93.781Sep 18, 2025Close92.938Sep 23, 2025Close92.875Sep 26, 2025Close92.313Oct 1, 2025Close93.031Oct 6, 2025Close92.500Oct 9, 2025Close92.906Oct 15, 2025Close93.969Oct 20, 2025Close94.688Oct 23, 2025Close94.656Oct 28, 2025Close95.000Oct 31, 2025Close93.563Nov 5, 2025Close92.719Nov 10, 2025Close93.094Nov 14, 2025Close92.656Nov 19, 2025Close92.719Nov 24, 2025Close93.656Nov 28, 2025Close93.781Dec 3, 2025Close93.094Dec 8, 2025Close91.906Dec 11, 2025Close92.250Dec 16, 2025Close92.063Dec 19, 2025Close91.969Dec 24, 2025Close92.281Dec 30, 2025Close92.313Jan 5, 2026Close91.969Jan 8, 2026Close91.938Jan 13, 2026Close92.250Jan 16, 2026Close92.063Jan 22, 2026Close91.844Jan 27, 2026Close92.000Jan 30, 2026Close91.656Feb 4, 2026Close91.188Feb 9, 2026Close92.063Feb 12, 2026Close93.469Feb 18, 2026Close93.656Feb 23, 2026Close93.938Feb 26, 2026Close94.281Mar 3, 2026Close93.750Mar 6, 2026Close92.688Mar 11, 2026Close91.625Mar 16, 2026Close91.531Mar 19, 2026Close91.594Mar 24, 2026Close90.000Mar 27, 2026Close89.594Apr 1, 2026Close90.625Apr 6, 2026Close90.906Apr 9, 2026Close91.031Apr 14, 2026Close91.500Apr 17, 2026Close91.406Apr 22, 2026Close91.063Apr 27, 2026Close90.625Apr 30, 2026Close90.000May 5, 2026Close89.906May 8, 2026Close90.531May 13, 2026Close89.406May 18, 2026Close88.094May 21, 2026Close88.563May 27, 2026Close89.563Jun 1, 2026Close89.844Jun 4, 2026Close89.938Jun 9, 2026Close89.469Jun 12, 2026Close89.938Jun 17, 2026Close90.281Jun 23, 2026Close90.219Jun 26, 2026Close91.313Jul 1, 2026Close90.094Jul 7, 2026Close89.188Jul 10, 2026Close88.906Jul 15, 2026Close88.969Jul 20, 2026Close88.531Jul 23, 2026Close87.500Jul 28, 2026Close88.563Jul 31, 2026Close86.594Aug 5, 2026Close87.844Aug 10, 2026Close86.969Aug 13, 2026Close87.594Aug 18, 2026Close86.781Aug 21, 2026Close87.000Aug 26, 2026Close87.938Aug 31, 2026Close87.156Sep 3, 2026Close87.156Sep 9, 2026Close86.781
The most recent 20 trading days of prices for 912810UD8.
DateBidOfferClose
Sep 9, 202686.56386.53186.781
Sep 8, 202687.18887.15687.000
Sep 4, 202687.23487.21987.156
Sep 3, 202687.35987.34487.156
Sep 2, 202686.89186.87586.906
Sep 1, 202687.20387.18886.875
Aug 31, 202687.07887.06387.156
Aug 28, 202687.84487.81387.500
Aug 27, 202687.98487.96987.813
Aug 26, 202687.95387.93887.938
Aug 25, 202688.04788.03188.094
Aug 24, 202687.62587.59487.469
Aug 21, 202687.09487.06387.000
Aug 20, 202687.29787.28187.469
Aug 19, 202687.73487.71987.875
Aug 18, 202686.67286.65686.781
Aug 17, 202686.81386.78186.531
Aug 14, 202687.03187.00087.063
Aug 13, 202687.57887.56387.594
Aug 12, 202687.31387.28187.125

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 912810UD8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 21, 2024Sep 3, 2024New issue$16.0bn$17.3bn2.54x4.160%
Sep 17, 2024Sep 30, 2024Reopening$13.0bn$13.3bn2.51x4.039%
Oct 23, 2024Oct 31, 2024Reopening$13.0bn$13.2bn2.59x4.590%

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.