Treasury note

912828Z94 · 1.5% due February 15, 2030

Original term
10-Year
Maturity
Feb 15, 2030
Coupon
1.500%
Pays
Semi-Annual
Dated
Feb 15, 2020
First coupon
Aug 15, 2020
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$87.40bn
Held stripped
$21.0m
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
4.542%
Modified duration
3.273 yr
DV01
0.0296
Convexity
12.477
Dirty price
90.543

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 6 of twelve buckets, summing to 3.350 years against a modified duration of 3.273.

Against the fitted curve

Priced 2.7 bp rich to the curve on that day, 8.02 cents per 100 of face.

That is -1.55 standard deviations from its own typical residual.

Yield to maturity, 1,644 observations

0%1%2%3%4%5%6%Feb 18, 2020Sep 9, 2026Feb 18, 2020Yield to maturity1.551%Feb 27, 2020Yield to maturity1.295%Mar 9, 2020Yield to maturity0.542%Mar 18, 2020Yield to maturity1.175%Mar 27, 2020Yield to maturity0.712%Apr 7, 2020Yield to maturity0.730%Apr 17, 2020Yield to maturity0.645%Apr 28, 2020Yield to maturity0.608%May 7, 2020Yield to maturity0.625%May 18, 2020Yield to maturity0.718%May 28, 2020Yield to maturity0.687%Jun 8, 2020Yield to maturity0.866%Jun 17, 2020Yield to maturity0.712%Jun 26, 2020Yield to maturity0.616%Jul 8, 2020Yield to maturity0.633%Jul 17, 2020Yield to maturity0.608%Jul 28, 2020Yield to maturity0.554%Aug 6, 2020Yield to maturity0.513%Aug 17, 2020Yield to maturity0.647%Aug 26, 2020Yield to maturity0.651%Sep 4, 2020Yield to maturity0.668%Sep 16, 2020Yield to maturity0.636%Sep 25, 2020Yield to maturity0.608%Oct 6, 2020Yield to maturity0.695%Oct 16, 2020Yield to maturity0.692%Oct 27, 2020Yield to maturity0.730%Nov 5, 2020Yield to maturity0.729%Nov 17, 2020Yield to maturity0.804%Nov 27, 2020Yield to maturity0.781%Dec 8, 2020Yield to maturity0.855%Dec 17, 2020Yield to maturity0.867%Dec 29, 2020Yield to maturity0.861%Jan 8, 2021Yield to maturity1.038%Jan 20, 2021Yield to maturity1.012%Jan 29, 2021Yield to maturity1.021%Feb 9, 2021Yield to maturity1.073%Feb 19, 2021Yield to maturity1.235%Mar 2, 2021Yield to maturity1.329%Mar 11, 2021Yield to maturity1.433%Mar 22, 2021Yield to maturity1.587%Mar 31, 2021Yield to maturity1.644%Apr 9, 2021Yield to maturity1.568%Apr 20, 2021Yield to maturity1.473%Apr 29, 2021Yield to maturity1.549%May 10, 2021Yield to maturity1.511%May 19, 2021Yield to maturity1.569%May 28, 2021Yield to maturity1.473%Jun 9, 2021Yield to maturity1.389%Jun 18, 2021Yield to maturity1.369%Jun 29, 2021Yield to maturity1.400%Jul 9, 2021Yield to maturity1.277%Jul 20, 2021Yield to maturity1.132%Jul 29, 2021Yield to maturity1.176%Aug 9, 2021Yield to maturity1.225%Aug 18, 2021Yield to maturity1.174%Aug 27, 2021Yield to maturity1.212%Sep 8, 2021Yield to maturity1.230%Sep 17, 2021Yield to maturity1.276%Sep 28, 2021Yield to maturity1.440%Oct 7, 2021Yield to maturity1.464%Oct 19, 2021Yield to maturity1.544%Oct 28, 2021Yield to maturity1.484%Nov 8, 2021Yield to maturity1.412%Nov 18, 2021Yield to maturity1.508%Nov 30, 2021Yield to maturity1.371%Dec 9, 2021Yield to maturity1.423%Dec 20, 2021Yield to maturity1.346%Dec 30, 2021Yield to maturity1.434%Jan 10, 2022Yield to maturity1.707%Jan 20, 2022Yield to maturity1.775%Jan 31, 2022Yield to maturity1.751%Feb 9, 2022Yield to maturity1.910%Feb 18, 2022Yield to maturity1.898%Mar 2, 2022Yield to maturity1.826%Mar 11, 2022Yield to maturity1.979%Mar 22, 2022Yield to maturity2.390%Mar 31, 2022Yield to maturity2.361%Apr 11, 2022Yield to maturity2.804%Apr 21, 2022Yield to maturity2.922%May 2, 2022Yield to maturity3.004%May 11, 2022Yield to maturity2.912%May 20, 2022Yield to maturity2.779%Jun 1, 2022Yield to maturity2.937%Jun 10, 2022Yield to maturity3.192%Jun 22, 2022Yield to maturity3.183%Jul 1, 2022Yield to maturity2.875%Jul 13, 2022Yield to maturity2.938%Jul 22, 2022Yield to maturity2.792%Aug 2, 2022Yield to maturity2.762%Aug 11, 2022Yield to maturity2.864%Aug 22, 2022Yield to maturity3.043%Aug 31, 2022Yield to maturity3.189%Sep 12, 2022Yield to maturity3.390%Sep 21, 2022Yield to maturity3.579%Sep 30, 2022Yield to maturity3.902%Oct 12, 2022Yield to maturity3.981%Oct 21, 2022Yield to maturity4.233%Nov 1, 2022Yield to maturity4.108%Nov 10, 2022Yield to maturity3.834%Nov 22, 2022Yield to maturity3.803%Dec 2, 2022Yield to maturity3.537%Dec 13, 2022Yield to maturity3.522%Dec 22, 2022Yield to maturity3.691%Jan 4, 2023Yield to maturity3.713%Jan 13, 2023Yield to maturity3.477%Jan 25, 2023Yield to maturity3.430%Feb 3, 2023Yield to maturity3.530%Feb 14, 2023Yield to maturity3.824%Feb 24, 2023Yield to maturity4.050%Mar 7, 2023Yield to maturity4.127%Mar 16, 2023Yield to maturity3.660%Mar 27, 2023Yield to maturity3.568%Apr 5, 2023Yield to maturity3.332%Apr 14, 2023Yield to maturity3.551%Apr 25, 2023Yield to maturity3.401%May 4, 2023Yield to maturity3.308%May 15, 2023Yield to maturity3.467%May 24, 2023Yield to maturity3.752%Jun 5, 2023Yield to maturity3.763%Jun 14, 2023Yield to maturity3.946%Jun 26, 2023Yield to maturity3.852%Jul 6, 2023Yield to maturity4.236%Jul 17, 2023Yield to maturity3.925%Jul 26, 2023Yield to maturity4.011%Aug 4, 2023Yield to maturity4.112%Aug 15, 2023Yield to maturity4.323%Aug 24, 2023Yield to maturity4.352%Sep 5, 2023Yield to maturity4.359%Sep 14, 2023Yield to maturity4.394%Sep 25, 2023Yield to maturity4.622%Oct 4, 2023Yield to maturity4.754%Oct 16, 2023Yield to maturity4.745%Oct 25, 2023Yield to maturity4.978%Nov 3, 2023Yield to maturity4.546%Nov 14, 2023Yield to maturity4.455%Nov 24, 2023Yield to maturity4.515%Dec 5, 2023Yield to maturity4.194%Dec 14, 2023Yield to maturity3.934%Dec 26, 2023Yield to maturity3.915%Jan 5, 2024Yield to maturity4.047%Jan 17, 2024Yield to maturity4.071%Jan 26, 2024Yield to maturity4.115%Feb 6, 2024Yield to maturity4.074%Feb 15, 2024Yield to maturity4.253%Feb 27, 2024Yield to maturity4.346%Mar 7, 2024Yield to maturity4.095%Mar 18, 2024Yield to maturity4.365%Mar 27, 2024Yield to maturity4.204%Apr 5, 2024Yield to maturity4.397%Apr 16, 2024Yield to maturity4.700%Apr 25, 2024Yield to maturity4.734%May 6, 2024Yield to maturity4.490%May 15, 2024Yield to maturity4.359%May 24, 2024Yield to maturity4.519%Jun 5, 2024Yield to maturity4.319%Jun 14, 2024Yield to maturity4.231%Jun 26, 2024Yield to maturity4.354%Jul 8, 2024Yield to maturity4.253%Jul 17, 2024Yield to maturity4.100%Jul 26, 2024Yield to maturity4.113%Aug 6, 2024Yield to maturity3.776%Aug 15, 2024Yield to maturity3.834%Aug 26, 2024Yield to maturity3.709%Sep 5, 2024Yield to maturity3.591%Sep 16, 2024Yield to maturity3.466%Sep 25, 2024Yield to maturity3.584%Oct 4, 2024Yield to maturity3.851%Oct 16, 2024Yield to maturity3.883%Oct 25, 2024Yield to maturity4.116%Nov 5, 2024Yield to maturity4.207%Nov 15, 2024Yield to maturity4.339%Nov 26, 2024Yield to maturity4.221%Dec 6, 2024Yield to maturity4.063%Dec 17, 2024Yield to maturity4.272%Dec 27, 2024Yield to maturity4.475%Jan 8, 2025Yield to maturity4.468%Jan 17, 2025Yield to maturity4.441%Jan 29, 2025Yield to maturity4.372%Feb 7, 2025Yield to maturity4.359%Feb 19, 2025Yield to maturity4.389%Feb 28, 2025Yield to maturity4.057%Mar 11, 2025Yield to maturity4.046%Mar 20, 2025Yield to maturity4.021%Mar 31, 2025Yield to maturity3.960%Apr 9, 2025Yield to maturity4.064%Apr 18, 2025Yield to maturity3.957%Apr 29, 2025Yield to maturity3.762%May 8, 2025Yield to maturity3.997%May 19, 2025Yield to maturity4.059%May 29, 2025Yield to maturity3.995%Jun 9, 2025Yield to maturity4.066%Jun 18, 2025Yield to maturity3.962%Jun 30, 2025Yield to maturity3.757%Jul 10, 2025Yield to maturity3.905%Jul 21, 2025Yield to maturity3.880%Jul 30, 2025Yield to maturity3.933%Aug 8, 2025Yield to maturity3.796%Aug 19, 2025Yield to maturity3.784%Aug 28, 2025Yield to maturity3.667%Sep 9, 2025Yield to maturity3.568%Sep 18, 2025Yield to maturity3.628%Sep 29, 2025Yield to maturity3.708%Oct 8, 2025Yield to maturity3.679%Oct 20, 2025Yield to maturity3.537%Oct 29, 2025Yield to maturity3.665%Nov 7, 2025Yield to maturity3.630%Nov 19, 2025Yield to maturity3.660%Dec 1, 2025Yield to maturity3.625%Dec 10, 2025Yield to maturity3.663%Dec 19, 2025Yield to maturity3.626%Dec 31, 2025Yield to maturity3.650%Jan 12, 2026Yield to maturity3.692%Jan 22, 2026Yield to maturity3.768%Feb 2, 2026Yield to maturity3.740%Feb 11, 2026Yield to maturity3.664%Feb 23, 2026Yield to maturity3.512%Mar 4, 2026Yield to maturity3.605%Mar 13, 2026Yield to maturity3.811%Mar 24, 2026Yield to maturity3.991%Apr 2, 2026Yield to maturity3.877%Apr 13, 2026Yield to maturity3.858%Apr 22, 2026Yield to maturity3.855%May 1, 2026Yield to maturity3.958%May 12, 2026Yield to maturity4.069%May 21, 2026Yield to maturity4.182%Jun 2, 2026Yield to maturity4.128%Jun 11, 2026Yield to maturity4.136%Jun 23, 2026Yield to maturity4.238%Jul 2, 2026Yield to maturity4.193%Jul 14, 2026Yield to maturity4.261%Jul 23, 2026Yield to maturity4.422%Aug 3, 2026Yield to maturity4.345%Aug 12, 2026Yield to maturity4.303%Aug 21, 2026Yield to maturity4.347%Sep 1, 2026Yield to maturity4.492%Sep 9, 2026Yield to maturity4.542%

Price history

1,644 trading days to Sep 9, 2026

80859095100105110Feb 18, 2020Sep 9, 2026Feb 18, 2020Close99.531Feb 27, 2020Close101.906Mar 9, 2020Close109.250Mar 18, 2020Close103.031Mar 27, 2020Close107.500Apr 7, 2020Close107.313Apr 17, 2020Close108.125Apr 28, 2020Close108.469May 7, 2020Close108.281May 18, 2020Close107.344May 28, 2020Close107.625Jun 8, 2020Close105.875Jun 17, 2020Close107.344Jun 26, 2020Close108.250Jul 8, 2020Close108.063Jul 17, 2020Close108.281Jul 28, 2020Close108.781Aug 6, 2020Close109.156Aug 17, 2020Close107.844Aug 26, 2020Close107.781Sep 4, 2020Close107.594Sep 16, 2020Close107.875Sep 25, 2020Close108.125Oct 6, 2020Close107.281Oct 16, 2020Close107.281Oct 27, 2020Close106.906Nov 5, 2020Close106.906Nov 17, 2020Close106.188Nov 27, 2020Close106.375Dec 8, 2020Close105.688Dec 17, 2020Close105.563Dec 29, 2020Close105.594Jan 8, 2021Close104.000Jan 20, 2021Close104.219Jan 29, 2021Close104.125Feb 9, 2021Close103.656Feb 19, 2021Close102.250Mar 2, 2021Close101.438Mar 11, 2021Close100.563Mar 22, 2021Close99.281Mar 31, 2021Close98.813Apr 9, 2021Close99.438Apr 20, 2021Close100.219Apr 29, 2021Close99.594May 10, 2021Close99.906May 19, 2021Close99.438May 28, 2021Close100.219Jun 9, 2021Close100.906Jun 18, 2021Close101.063Jun 29, 2021Close100.813Jul 9, 2021Close101.813Jul 20, 2021Close103.000Jul 29, 2021Close102.625Aug 9, 2021Close102.219Aug 18, 2021Close102.625Aug 27, 2021Close102.313Sep 8, 2021Close102.156Sep 17, 2021Close101.781Sep 28, 2021Close100.469Oct 7, 2021Close100.281Oct 19, 2021Close99.656Oct 28, 2021Close100.125Nov 8, 2021Close100.688Nov 18, 2021Close99.938Nov 30, 2021Close101.000Dec 9, 2021Close100.594Dec 20, 2021Close101.188Dec 30, 2021Close100.500Jan 10, 2022Close98.438Jan 20, 2022Close97.938Jan 31, 2022Close98.125Feb 9, 2022Close96.969Feb 18, 2022Close97.063Mar 2, 2022Close97.594Mar 11, 2022Close96.500Mar 22, 2022Close93.625Mar 31, 2022Close93.844Apr 11, 2022Close90.875Apr 21, 2022Close90.125May 2, 2022Close89.625May 11, 2022Close90.250May 20, 2022Close91.156Jun 1, 2022Close90.156Jun 10, 2022Close88.563Jun 22, 2022Close88.656Jul 1, 2022Close90.656Jul 13, 2022Close90.281Jul 22, 2022Close91.250Aug 2, 2022Close91.469Aug 11, 2022Close90.844Aug 22, 2022Close89.750Aug 31, 2022Close88.875Sep 12, 2022Close87.688Sep 21, 2022Close86.594Sep 30, 2022Close84.750Oct 12, 2022Close84.344Oct 21, 2022Close82.969Nov 1, 2022Close83.719Nov 10, 2022Close85.344Nov 22, 2022Close85.563Dec 2, 2022Close87.156Dec 13, 2022Close87.281Dec 22, 2022Close86.344Jan 4, 2023Close86.281Jan 13, 2023Close87.688Jan 25, 2023Close88.000Feb 3, 2023Close87.469Feb 14, 2023Close85.844Feb 24, 2023Close84.656Mar 7, 2023Close84.281Mar 16, 2023Close86.906Mar 27, 2023Close87.469Apr 5, 2023Close88.844Apr 14, 2023Close87.656Apr 25, 2023Close88.531May 4, 2023Close89.094May 15, 2023Close88.250May 24, 2023Close86.719Jun 5, 2023Close86.719Jun 14, 2023Close85.781Jun 26, 2023Close86.344Jul 6, 2023Close84.375Jul 17, 2023Close86.063Jul 26, 2023Close85.656Aug 4, 2023Close85.188Aug 15, 2023Close84.156Aug 24, 2023Close84.063Sep 5, 2023Close84.094Sep 14, 2023Close83.969Sep 25, 2023Close82.906Oct 4, 2023Close82.313Oct 16, 2023Close82.438Oct 25, 2023Close81.375Nov 3, 2023Close83.531Nov 14, 2023Close84.031Nov 24, 2023Close83.813Dec 5, 2023Close85.438Dec 14, 2023Close86.781Dec 26, 2023Close86.938Jan 5, 2024Close86.344Jan 17, 2024Close86.281Jan 26, 2024Close86.125Feb 6, 2024Close86.375Feb 15, 2024Close85.563Feb 27, 2024Close85.188Mar 7, 2024Close86.438Mar 18, 2024Close85.219Mar 27, 2024Close86.031Apr 5, 2024Close85.188Apr 16, 2024Close83.844Apr 25, 2024Close83.750May 6, 2024Close84.938May 15, 2024Close85.594May 24, 2024Close84.938Jun 5, 2024Close85.906Jun 14, 2024Close86.375Jun 26, 2024Close85.875Jul 8, 2024Close86.406Jul 17, 2024Close87.156Jul 26, 2024Close87.156Aug 6, 2024Close88.750Aug 15, 2024Close88.531Aug 26, 2024Close89.156Sep 5, 2024Close89.750Sep 16, 2024Close90.375Sep 25, 2024Close89.875Oct 4, 2024Close88.719Oct 16, 2024Close88.625Oct 25, 2024Close87.656Nov 5, 2024Close87.313Nov 15, 2024Close86.813Nov 26, 2024Close87.375Dec 6, 2024Close88.125Dec 17, 2024Close87.281Dec 27, 2024Close86.500Jan 8, 2025Close86.594Jan 17, 2025Close86.781Jan 29, 2025Close87.125Feb 7, 2025Close87.250Feb 19, 2025Close87.188Feb 28, 2025Close88.625Mar 11, 2025Close88.719Mar 20, 2025Close88.875Mar 31, 2025Close89.188Apr 9, 2025Close88.813Apr 18, 2025Close89.313Apr 29, 2025Close90.156May 8, 2025Close89.250May 19, 2025Close89.063May 29, 2025Close89.375Jun 9, 2025Close89.156Jun 18, 2025Close89.625Jun 30, 2025Close90.500Jul 10, 2025Close89.969Jul 21, 2025Close90.125Jul 30, 2025Close89.969Aug 8, 2025Close90.563Aug 19, 2025Close90.656Aug 28, 2025Close91.156Sep 9, 2025Close91.594Sep 18, 2025Close91.406Sep 29, 2025Close91.156Oct 8, 2025Close91.313Oct 20, 2025Close91.906Oct 29, 2025Close91.469Nov 7, 2025Close91.656Nov 19, 2025Close91.594Dec 1, 2025Close91.781Dec 10, 2025Close91.688Dec 19, 2025Close91.875Dec 31, 2025Close91.844Jan 12, 2026Close91.750Jan 22, 2026Close91.531Feb 2, 2026Close91.688Feb 11, 2026Close92.000Feb 23, 2026Close92.594Mar 4, 2026Close92.313Mar 13, 2026Close91.656Mar 24, 2026Close91.094Apr 2, 2026Close91.531Apr 13, 2026Close91.656Apr 22, 2026Close91.719May 1, 2026Close91.438May 12, 2026Close91.125May 21, 2026Close90.813Jun 2, 2026Close91.063Jun 11, 2026Close91.094Jun 23, 2026Close90.844Jul 2, 2026Close91.063Jul 14, 2026Close90.906Jul 23, 2026Close90.469Aug 3, 2026Close90.781Aug 12, 2026Close90.969Aug 21, 2026Close90.906Sep 1, 2026Close90.531Sep 9, 2026Close90.438
The most recent 20 trading days of prices for 912828Z94.
DateBidOfferClose
Sep 9, 202690.45390.40690.438
Sep 8, 202690.59490.56390.531
Sep 4, 202690.64190.62590.594
Sep 3, 202690.75090.71990.688
Sep 2, 202690.56390.53190.563
Sep 1, 202690.62590.59490.531
Aug 31, 202690.71990.68890.688
Aug 28, 202690.78190.75090.688
Aug 27, 202691.06391.03190.969
Aug 26, 202691.04791.03191.000
Aug 25, 202691.10991.09491.094
Aug 24, 202690.98490.96990.906
Aug 21, 202690.90690.87590.906
Aug 20, 202691.01691.00091.000
Aug 19, 202691.06391.03191.094
Aug 18, 202691.06391.03191.031
Aug 17, 202691.07891.06391.031
Aug 14, 202691.12591.09491.031
Aug 13, 202691.15691.12591.125
Aug 12, 202691.01691.00090.969

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 912828Z94.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 12, 2020Feb 18, 2020New issue$27.0bn$39.0bn2.58x1.622%
Mar 11, 2020Mar 16, 2020Reopening$24.0bn$24.0bn2.36x0.849%
Apr 7, 2020Apr 15, 2020Reopening$25.0bn$25.1bn2.43x0.782%

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.