Treasury bond

912810UM8 · 4.75% due August 15, 2055

Original term
30-Year
Maturity
Aug 15, 2055
Coupon
4.750%
Pays
Semi-Annual
Dated
Aug 15, 2025
First coupon
Feb 15, 2026
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$77.83bn
Held stripped
$14.99bn
Share stripped
19.26%

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
5.295%
Modified duration
15.000 yr
DV01
0.1385
Convexity
332.134
Dirty price
92.304

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 15.116 years against a modified duration of 15.000.

Against the fitted curve

Priced 0.1 bp rich to the curve on that day, 1.62 cents per 100 of face.

That is 0.85 standard deviations from its own typical residual.

Yield to maturity, 267 observations

4.4%4.6%4.8%5.0%5.2%5.4%Aug 15, 2025Sep 9, 2026Aug 15, 2025Yield to maturity4.926%Aug 19, 2025Yield to maturity4.900%Aug 21, 2025Yield to maturity4.924%Aug 25, 2025Yield to maturity4.894%Aug 27, 2025Yield to maturity4.916%Aug 29, 2025Yield to maturity4.918%Sep 3, 2025Yield to maturity4.898%Sep 5, 2025Yield to maturity4.775%Sep 9, 2025Yield to maturity4.718%Sep 11, 2025Yield to maturity4.647%Sep 15, 2025Yield to maturity4.660%Sep 17, 2025Yield to maturity4.656%Sep 19, 2025Yield to maturity4.748%Sep 23, 2025Yield to maturity4.732%Sep 25, 2025Yield to maturity4.752%Sep 29, 2025Yield to maturity4.709%Oct 1, 2025Yield to maturity4.718%Oct 3, 2025Yield to maturity4.712%Oct 7, 2025Yield to maturity4.726%Oct 9, 2025Yield to maturity4.726%Oct 14, 2025Yield to maturity4.620%Oct 16, 2025Yield to maturity4.578%Oct 20, 2025Yield to maturity4.576%Oct 22, 2025Yield to maturity4.540%Oct 24, 2025Yield to maturity4.587%Oct 28, 2025Yield to maturity4.547%Oct 30, 2025Yield to maturity4.650%Nov 3, 2025Yield to maturity4.693%Nov 5, 2025Yield to maturity4.736%Nov 7, 2025Yield to maturity4.697%Nov 12, 2025Yield to maturity4.666%Nov 14, 2025Yield to maturity4.750%Nov 18, 2025Yield to maturity4.746%Nov 20, 2025Yield to maturity4.730%Nov 24, 2025Yield to maturity4.683%Nov 26, 2025Yield to maturity4.644%Dec 1, 2025Yield to maturity4.742%Dec 3, 2025Yield to maturity4.728%Dec 5, 2025Yield to maturity4.791%Dec 9, 2025Yield to maturity4.807%Dec 11, 2025Yield to maturity4.791%Dec 15, 2025Yield to maturity4.849%Dec 17, 2025Yield to maturity4.829%Dec 19, 2025Yield to maturity4.827%Dec 23, 2025Yield to maturity4.829%Dec 26, 2025Yield to maturity4.817%Dec 30, 2025Yield to maturity4.811%Jan 2, 2026Yield to maturity4.864%Jan 6, 2026Yield to maturity4.864%Jan 8, 2026Yield to maturity4.858%Jan 12, 2026Yield to maturity4.838%Jan 14, 2026Yield to maturity4.793%Jan 16, 2026Yield to maturity4.836%Jan 21, 2026Yield to maturity4.876%Jan 23, 2026Yield to maturity4.828%Jan 27, 2026Yield to maturity4.838%Jan 29, 2026Yield to maturity4.852%Feb 2, 2026Yield to maturity4.907%Feb 4, 2026Yield to maturity4.915%Feb 6, 2026Yield to maturity4.856%Feb 10, 2026Yield to maturity4.786%Feb 12, 2026Yield to maturity4.728%Feb 17, 2026Yield to maturity4.687%Feb 19, 2026Yield to maturity4.707%Feb 23, 2026Yield to maturity4.707%Feb 25, 2026Yield to maturity4.697%Feb 27, 2026Yield to maturity4.636%Mar 3, 2026Yield to maturity4.705%Mar 5, 2026Yield to maturity4.746%Mar 9, 2026Yield to maturity4.728%Mar 11, 2026Yield to maturity4.864%Mar 13, 2026Yield to maturity4.911%Mar 17, 2026Yield to maturity4.852%Mar 19, 2026Yield to maturity4.840%Mar 23, 2026Yield to maturity4.922%Mar 25, 2026Yield to maturity4.901%Mar 27, 2026Yield to maturity4.988%Mar 31, 2026Yield to maturity4.889%Apr 2, 2026Yield to maturity4.891%Apr 6, 2026Yield to maturity4.895%Apr 8, 2026Yield to maturity4.893%Apr 10, 2026Yield to maturity4.918%Apr 14, 2026Yield to maturity4.874%Apr 16, 2026Yield to maturity4.936%Apr 20, 2026Yield to maturity4.887%Apr 22, 2026Yield to maturity4.905%Apr 24, 2026Yield to maturity4.913%Apr 28, 2026Yield to maturity4.947%Apr 30, 2026Yield to maturity4.990%May 4, 2026Yield to maturity5.028%May 6, 2026Yield to maturity4.947%May 8, 2026Yield to maturity4.955%May 12, 2026Yield to maturity5.037%May 14, 2026Yield to maturity5.031%May 18, 2026Yield to maturity5.149%May 20, 2026Yield to maturity5.125%May 22, 2026Yield to maturity5.078%May 27, 2026Yield to maturity5.024%May 29, 2026Yield to maturity4.999%Jun 2, 2026Yield to maturity4.976%Jun 4, 2026Yield to maturity4.984%Jun 8, 2026Yield to maturity5.042%Jun 10, 2026Yield to maturity5.042%Jun 12, 2026Yield to maturity4.985%Jun 16, 2026Yield to maturity4.935%Jun 18, 2026Yield to maturity4.914%Jun 23, 2026Yield to maturity4.953%Jun 25, 2026Yield to maturity4.871%Jun 29, 2026Yield to maturity4.869%Jul 1, 2026Yield to maturity4.979%Jul 6, 2026Yield to maturity5.002%Jul 8, 2026Yield to maturity5.074%Jul 10, 2026Yield to maturity5.078%Jul 14, 2026Yield to maturity5.096%Jul 16, 2026Yield to maturity5.104%Jul 20, 2026Yield to maturity5.122%Jul 22, 2026Yield to maturity5.165%Jul 24, 2026Yield to maturity5.172%Jul 28, 2026Yield to maturity5.107%Jul 30, 2026Yield to maturity5.223%Aug 3, 2026Yield to maturity5.243%Aug 5, 2026Yield to maturity5.190%Aug 7, 2026Yield to maturity5.208%Aug 11, 2026Yield to maturity5.257%Aug 13, 2026Yield to maturity5.228%Aug 17, 2026Yield to maturity5.327%Aug 19, 2026Yield to maturity5.210%Aug 21, 2026Yield to maturity5.293%Aug 25, 2026Yield to maturity5.186%Aug 27, 2026Yield to maturity5.208%Aug 31, 2026Yield to maturity5.264%Sep 2, 2026Yield to maturity5.284%Sep 4, 2026Yield to maturity5.259%Sep 9, 2026Yield to maturity5.295%

Price history

267 trading days to Sep 9, 2026

90.092.595.097.5100.0102.5105.0Aug 15, 2025Sep 9, 2026Aug 15, 2025Close97.250Aug 19, 2025Close97.656Aug 21, 2025Close97.281Aug 25, 2025Close97.750Aug 27, 2025Close97.406Aug 29, 2025Close97.375Sep 3, 2025Close97.688Sep 5, 2025Close99.594Sep 9, 2025Close100.500Sep 11, 2025Close101.656Sep 15, 2025Close101.438Sep 17, 2025Close101.500Sep 19, 2025Close100.031Sep 23, 2025Close100.281Sep 25, 2025Close99.969Sep 29, 2025Close100.656Oct 1, 2025Close100.500Oct 3, 2025Close100.594Oct 7, 2025Close100.375Oct 9, 2025Close100.375Oct 14, 2025Close102.094Oct 16, 2025Close102.781Oct 20, 2025Close102.813Oct 22, 2025Close103.406Oct 24, 2025Close102.625Oct 28, 2025Close103.281Oct 30, 2025Close101.594Nov 3, 2025Close100.906Nov 5, 2025Close100.219Nov 7, 2025Close100.844Nov 12, 2025Close101.344Nov 14, 2025Close100.000Nov 18, 2025Close100.063Nov 20, 2025Close100.313Nov 24, 2025Close101.063Nov 26, 2025Close101.688Dec 1, 2025Close100.125Dec 3, 2025Close100.344Dec 5, 2025Close99.344Dec 9, 2025Close99.094Dec 11, 2025Close99.344Dec 15, 2025Close98.438Dec 17, 2025Close98.750Dec 19, 2025Close98.781Dec 23, 2025Close98.750Dec 26, 2025Close98.938Dec 30, 2025Close99.031Jan 2, 2026Close98.219Jan 6, 2026Close98.219Jan 8, 2026Close98.313Jan 12, 2026Close98.625Jan 14, 2026Close99.313Jan 16, 2026Close98.656Jan 21, 2026Close98.031Jan 23, 2026Close98.781Jan 27, 2026Close98.625Jan 29, 2026Close98.406Feb 2, 2026Close97.563Feb 4, 2026Close97.438Feb 6, 2026Close98.344Feb 10, 2026Close99.438Feb 12, 2026Close100.344Feb 17, 2026Close101.000Feb 19, 2026Close100.688Feb 23, 2026Close100.688Feb 25, 2026Close100.844Feb 27, 2026Close101.813Mar 3, 2026Close100.719Mar 5, 2026Close100.063Mar 9, 2026Close100.344Mar 11, 2026Close98.219Mar 13, 2026Close97.500Mar 17, 2026Close98.406Mar 19, 2026Close98.594Mar 23, 2026Close97.344Mar 25, 2026Close97.656Mar 27, 2026Close96.344Mar 31, 2026Close97.844Apr 2, 2026Close97.813Apr 6, 2026Close97.750Apr 8, 2026Close97.781Apr 10, 2026Close97.406Apr 14, 2026Close98.063Apr 16, 2026Close97.125Apr 20, 2026Close97.875Apr 22, 2026Close97.594Apr 24, 2026Close97.469Apr 28, 2026Close96.969Apr 30, 2026Close96.313May 4, 2026Close95.750May 6, 2026Close96.969May 8, 2026Close96.844May 12, 2026Close95.625May 14, 2026Close95.719May 18, 2026Close94.000May 20, 2026Close94.344May 22, 2026Close95.031May 27, 2026Close95.813May 29, 2026Close96.188Jun 2, 2026Close96.531Jun 4, 2026Close96.406Jun 8, 2026Close95.563Jun 10, 2026Close95.563Jun 12, 2026Close96.406Jun 16, 2026Close97.156Jun 18, 2026Close97.469Jun 23, 2026Close96.875Jun 25, 2026Close98.125Jun 29, 2026Close98.156Jul 1, 2026Close96.500Jul 6, 2026Close96.156Jul 8, 2026Close95.094Jul 10, 2026Close95.031Jul 14, 2026Close94.781Jul 16, 2026Close94.656Jul 20, 2026Close94.406Jul 22, 2026Close93.781Jul 24, 2026Close93.688Jul 28, 2026Close94.625Jul 30, 2026Close92.969Aug 3, 2026Close92.688Aug 5, 2026Close93.438Aug 7, 2026Close93.188Aug 11, 2026Close92.500Aug 13, 2026Close92.906Aug 17, 2026Close91.531Aug 19, 2026Close93.156Aug 21, 2026Close92.000Aug 25, 2026Close93.500Aug 27, 2026Close93.188Aug 31, 2026Close92.406Sep 2, 2026Close92.125Sep 4, 2026Close92.469Sep 9, 2026Close91.969
The most recent 20 trading days of prices for 912810UM8.
DateBidOfferClose
Sep 9, 202691.75091.71991.969
Sep 8, 202692.46992.43892.313
Sep 4, 202692.51692.50092.469
Sep 3, 202692.64192.62592.406
Sep 2, 202692.12592.09492.125
Sep 1, 202692.45392.43892.125
Aug 31, 202692.23492.21992.406
Aug 28, 202693.32893.31392.844
Aug 27, 202693.39193.37593.188
Aug 26, 202693.35993.34493.313
Aug 25, 202693.39193.37593.500
Aug 24, 202692.84492.81392.625
Aug 21, 202692.14192.12592.000
Aug 20, 202692.39192.37592.625
Aug 19, 202693.01693.00093.156
Aug 18, 202691.68891.65691.844
Aug 17, 202691.89191.87591.531
Aug 14, 202692.17292.15692.281
Aug 13, 202692.90692.87592.906
Aug 12, 202692.67292.65692.438

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 912810UM8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 7, 2025Aug 15, 2025New issue$25.0bn$33.5bn2.27x4.813%
Sep 11, 2025Sep 15, 2025Reopening$22.0bn$22.0bn2.38x4.651%
Oct 9, 2025Oct 15, 2025Reopening$22.0bn$22.4bn2.38x4.734%

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.