Treasury note

912828ZQ6 · 0.625% due May 15, 2030

Original term
10-Year
Maturity
May 15, 2030
Coupon
0.625%
Pays
Semi-Annual
Dated
May 15, 2020
First coupon
Nov 15, 2020
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$109.62bn
Held stripped
$1.60bn
Share stripped
1.46%

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
4.569%
Modified duration
3.551 yr
DV01
0.0309
Convexity
14.455
Dirty price
86.982

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 3.629 years against a modified duration of 3.551.

Against the fitted curve

Priced 0.6 bp rich to the curve on that day, 1.92 cents per 100 of face.

That is -1.17 standard deviations from its own typical residual.

Yield to maturity, 1,582 observations

0%1%2%3%4%5%6%May 15, 2020Sep 9, 2026May 15, 2020Yield to maturity0.641%May 27, 2020Yield to maturity0.677%Jun 5, 2020Yield to maturity0.902%Jun 16, 2020Yield to maturity0.750%Jun 25, 2020Yield to maturity0.677%Jul 7, 2020Yield to maturity0.641%Jul 16, 2020Yield to maturity0.615%Jul 27, 2020Yield to maturity0.612%Aug 5, 2020Yield to maturity0.543%Aug 14, 2020Yield to maturity0.698%Aug 25, 2020Yield to maturity0.672%Sep 3, 2020Yield to maturity0.608%Sep 15, 2020Yield to maturity0.655%Sep 24, 2020Yield to maturity0.642%Oct 5, 2020Yield to maturity0.747%Oct 15, 2020Yield to maturity0.713%Oct 26, 2020Yield to maturity0.778%Nov 4, 2020Yield to maturity0.748%Nov 16, 2020Yield to maturity0.872%Nov 25, 2020Yield to maturity0.852%Dec 7, 2020Yield to maturity0.898%Dec 16, 2020Yield to maturity0.882%Dec 28, 2020Yield to maturity0.893%Jan 7, 2021Yield to maturity1.033%Jan 19, 2021Yield to maturity1.056%Jan 28, 2021Yield to maturity1.010%Feb 8, 2021Yield to maturity1.124%Feb 18, 2021Yield to maturity1.232%Mar 1, 2021Yield to maturity1.402%Mar 10, 2021Yield to maturity1.468%Mar 19, 2021Yield to maturity1.683%Mar 30, 2021Yield to maturity1.670%Apr 8, 2021Yield to maturity1.580%Apr 19, 2021Yield to maturity1.552%Apr 28, 2021Yield to maturity1.570%May 7, 2021Yield to maturity1.526%May 18, 2021Yield to maturity1.575%May 27, 2021Yield to maturity1.543%Jun 8, 2021Yield to maturity1.464%Jun 17, 2021Yield to maturity1.471%Jun 28, 2021Yield to maturity1.434%Jul 8, 2021Yield to maturity1.242%Jul 19, 2021Yield to maturity1.129%Jul 28, 2021Yield to maturity1.184%Aug 6, 2021Yield to maturity1.232%Aug 17, 2021Yield to maturity1.191%Aug 26, 2021Yield to maturity1.271%Sep 7, 2021Yield to maturity1.293%Sep 16, 2021Yield to maturity1.267%Sep 27, 2021Yield to maturity1.416%Oct 6, 2021Yield to maturity1.455%Oct 18, 2021Yield to maturity1.522%Oct 27, 2021Yield to maturity1.480%Nov 5, 2021Yield to maturity1.374%Nov 17, 2021Yield to maturity1.539%Nov 29, 2021Yield to maturity1.469%Dec 8, 2021Yield to maturity1.463%Dec 17, 2021Yield to maturity1.363%Dec 29, 2021Yield to maturity1.489%Jan 7, 2022Yield to maturity1.710%Jan 19, 2022Yield to maturity1.795%Jan 28, 2022Yield to maturity1.747%Feb 8, 2022Yield to maturity1.928%Feb 17, 2022Yield to maturity1.953%Mar 1, 2022Yield to maturity1.681%Mar 10, 2022Yield to maturity1.967%Mar 21, 2022Yield to maturity2.331%Mar 30, 2022Yield to maturity2.386%Apr 8, 2022Yield to maturity2.757%Apr 20, 2022Yield to maturity2.860%Apr 29, 2022Yield to maturity2.917%May 10, 2022Yield to maturity2.977%May 19, 2022Yield to maturity2.843%May 31, 2022Yield to maturity2.847%Jun 9, 2022Yield to maturity3.055%Jun 21, 2022Yield to maturity3.331%Jun 30, 2022Yield to maturity2.983%Jul 12, 2022Yield to maturity2.963%Jul 21, 2022Yield to maturity2.935%Aug 1, 2022Yield to maturity2.601%Aug 10, 2022Yield to maturity2.793%Aug 19, 2022Yield to maturity2.975%Aug 30, 2022Yield to maturity3.155%Sep 9, 2022Yield to maturity3.361%Sep 20, 2022Yield to maturity3.602%Sep 29, 2022Yield to maturity3.816%Oct 11, 2022Yield to maturity3.988%Oct 20, 2022Yield to maturity4.284%Oct 31, 2022Yield to maturity4.112%Nov 9, 2022Yield to maturity4.140%Nov 21, 2022Yield to maturity3.854%Dec 1, 2022Yield to maturity3.538%Dec 12, 2022Yield to maturity3.647%Dec 21, 2022Yield to maturity3.696%Jan 3, 2023Yield to maturity3.821%Jan 12, 2023Yield to maturity3.420%Jan 24, 2023Yield to maturity3.432%Feb 2, 2023Yield to maturity3.371%Feb 13, 2023Yield to maturity3.758%Feb 23, 2023Yield to maturity3.968%Mar 6, 2023Yield to maturity4.091%Mar 15, 2023Yield to maturity3.541%Mar 24, 2023Yield to maturity3.386%Apr 4, 2023Yield to maturity3.363%Apr 13, 2023Yield to maturity3.467%Apr 24, 2023Yield to maturity3.535%May 3, 2023Yield to maturity3.349%May 12, 2023Yield to maturity3.439%May 23, 2023Yield to maturity3.717%Jun 2, 2023Yield to maturity3.777%Jun 13, 2023Yield to maturity3.928%Jun 23, 2023Yield to maturity3.861%Jul 5, 2023Yield to maturity4.094%Jul 14, 2023Yield to maturity3.930%Jul 25, 2023Yield to maturity4.043%Aug 3, 2023Yield to maturity4.261%Aug 14, 2023Yield to maturity4.290%Aug 23, 2023Yield to maturity4.303%Sep 1, 2023Yield to maturity4.259%Sep 13, 2023Yield to maturity4.340%Sep 22, 2023Yield to maturity4.539%Oct 3, 2023Yield to maturity4.855%Oct 13, 2023Yield to maturity4.675%Oct 24, 2023Yield to maturity4.872%Nov 2, 2023Yield to maturity4.705%Nov 13, 2023Yield to maturity4.710%Nov 22, 2023Yield to maturity4.475%Dec 4, 2023Yield to maturity4.301%Dec 13, 2023Yield to maturity4.036%Dec 22, 2023Yield to maturity3.922%Jan 4, 2024Yield to maturity3.999%Jan 16, 2024Yield to maturity4.010%Jan 25, 2024Yield to maturity4.093%Feb 5, 2024Yield to maturity4.174%Feb 14, 2024Yield to maturity4.285%Feb 26, 2024Yield to maturity4.324%Mar 6, 2024Yield to maturity4.129%Mar 15, 2024Yield to maturity4.343%Mar 26, 2024Yield to maturity4.246%Apr 4, 2024Yield to maturity4.320%Apr 15, 2024Yield to maturity4.654%Apr 24, 2024Yield to maturity4.671%May 3, 2024Yield to maturity4.493%May 14, 2024Yield to maturity4.468%May 23, 2024Yield to maturity4.518%Jun 4, 2024Yield to maturity4.347%Jun 13, 2024Yield to maturity4.240%Jun 25, 2024Yield to maturity4.260%Jul 5, 2024Yield to maturity4.246%Jul 16, 2024Yield to maturity4.118%Jul 25, 2024Yield to maturity4.187%Aug 5, 2024Yield to maturity3.664%Aug 14, 2024Yield to maturity3.717%Aug 23, 2024Yield to maturity3.699%Sep 4, 2024Yield to maturity3.613%Sep 13, 2024Yield to maturity3.487%Sep 24, 2024Yield to maturity3.540%Oct 3, 2024Yield to maturity3.681%Oct 15, 2024Yield to maturity3.906%Oct 24, 2024Yield to maturity4.081%Nov 4, 2024Yield to maturity4.214%Nov 14, 2024Yield to maturity4.361%Nov 25, 2024Yield to maturity4.208%Dec 5, 2024Yield to maturity4.111%Dec 16, 2024Yield to maturity4.282%Dec 26, 2024Yield to maturity4.462%Jan 7, 2025Yield to maturity4.501%Jan 16, 2025Yield to maturity4.437%Jan 28, 2025Yield to maturity4.378%Feb 6, 2025Yield to maturity4.314%Feb 18, 2025Yield to maturity4.435%Feb 27, 2025Yield to maturity4.138%Mar 10, 2025Yield to maturity4.024%Mar 19, 2025Yield to maturity4.070%Mar 28, 2025Yield to maturity4.015%Apr 8, 2025Yield to maturity3.912%Apr 17, 2025Yield to maturity3.980%Apr 28, 2025Yield to maturity3.842%May 7, 2025Yield to maturity3.888%May 16, 2025Yield to maturity4.083%May 28, 2025Yield to maturity4.079%Jun 6, 2025Yield to maturity4.139%Jun 17, 2025Yield to maturity4.000%Jun 27, 2025Yield to maturity3.836%Jul 9, 2025Yield to maturity3.916%Jul 18, 2025Yield to maturity3.968%Jul 29, 2025Yield to maturity3.906%Aug 7, 2025Yield to maturity3.789%Aug 18, 2025Yield to maturity3.848%Aug 27, 2025Yield to maturity3.707%Sep 8, 2025Yield to maturity3.562%Sep 17, 2025Yield to maturity3.617%Sep 26, 2025Yield to maturity3.764%Oct 7, 2025Yield to maturity3.700%Oct 17, 2025Yield to maturity3.576%Oct 28, 2025Yield to maturity3.600%Nov 6, 2025Yield to maturity3.673%Nov 18, 2025Yield to maturity3.679%Nov 28, 2025Yield to maturity3.586%Dec 9, 2025Yield to maturity3.752%Dec 18, 2025Yield to maturity3.627%Dec 30, 2025Yield to maturity3.633%Jan 9, 2026Yield to maturity3.715%Jan 21, 2026Yield to maturity3.786%Jan 30, 2026Yield to maturity3.740%Feb 10, 2026Yield to maturity3.654%Feb 20, 2026Yield to maturity3.609%Mar 3, 2026Yield to maturity3.600%Mar 12, 2026Yield to maturity3.855%Mar 23, 2026Yield to maturity3.941%Apr 1, 2026Yield to maturity3.934%Apr 10, 2026Yield to maturity3.904%Apr 21, 2026Yield to maturity3.870%Apr 30, 2026Yield to maturity3.990%May 11, 2026Yield to maturity4.043%May 20, 2026Yield to maturity4.194%Jun 1, 2026Yield to maturity4.158%Jun 10, 2026Yield to maturity4.245%Jun 22, 2026Yield to maturity4.285%Jul 1, 2026Yield to maturity4.222%Jul 13, 2026Yield to maturity4.339%Jul 22, 2026Yield to maturity4.392%Jul 31, 2026Yield to maturity4.412%Aug 11, 2026Yield to maturity4.348%Aug 20, 2026Yield to maturity4.333%Aug 31, 2026Yield to maturity4.452%Sep 9, 2026Yield to maturity4.569%

Price history

1,582 trading days to Sep 9, 2026

7580859095100105May 15, 2020Sep 9, 2026May 15, 2020Close99.844May 27, 2020Close99.500Jun 5, 2020Close97.375Jun 16, 2020Close98.813Jun 25, 2020Close99.500Jul 7, 2020Close99.844Jul 16, 2020Close100.094Jul 27, 2020Close100.125Aug 5, 2020Close100.781Aug 14, 2020Close99.313Aug 25, 2020Close99.563Sep 3, 2020Close100.156Sep 15, 2020Close99.719Sep 24, 2020Close99.844Oct 5, 2020Close98.875Oct 15, 2020Close99.188Oct 26, 2020Close98.594Nov 4, 2020Close98.875Nov 16, 2020Close97.750Nov 25, 2020Close97.938Dec 7, 2020Close97.531Dec 16, 2020Close97.688Dec 28, 2020Close97.594Jan 7, 2021Close96.375Jan 19, 2021Close96.188Jan 28, 2021Close96.594Feb 8, 2021Close95.625Feb 18, 2021Close94.719Mar 1, 2021Close93.313Mar 10, 2021Close92.781Mar 19, 2021Close91.063Mar 30, 2021Close91.188Apr 8, 2021Close91.938Apr 19, 2021Close92.188Apr 28, 2021Close92.063May 7, 2021Close92.438May 18, 2021Close92.063May 27, 2021Close92.344Jun 8, 2021Close93.000Jun 17, 2021Close92.969Jun 28, 2021Close93.281Jul 8, 2021Close94.844Jul 19, 2021Close95.781Jul 28, 2021Close95.344Aug 6, 2021Close94.969Aug 17, 2021Close95.313Aug 26, 2021Close94.688Sep 7, 2021Close94.531Sep 16, 2021Close94.750Sep 27, 2021Close93.594Oct 6, 2021Close93.313Oct 18, 2021Close92.813Oct 27, 2021Close93.156Nov 5, 2021Close94.000Nov 17, 2021Close92.750Nov 29, 2021Close93.313Dec 8, 2021Close93.375Dec 17, 2021Close94.156Dec 29, 2021Close93.219Jan 7, 2022Close91.594Jan 19, 2022Close91.000Jan 28, 2022Close91.375Feb 8, 2022Close90.094Feb 17, 2022Close89.938Mar 1, 2022Close91.938Mar 10, 2022Close89.906Mar 21, 2022Close87.406Mar 30, 2022Close87.063Apr 8, 2022Close84.625Apr 20, 2022Close84.000Apr 29, 2022Close83.688May 10, 2022Close83.344May 19, 2022Close84.250May 31, 2022Close84.281Jun 9, 2022Close83.000Jun 21, 2022Close81.344Jun 30, 2022Close83.563Jul 12, 2022Close83.750Jul 21, 2022Close83.969Aug 1, 2022Close86.156Aug 10, 2022Close84.969Aug 19, 2022Close83.875Aug 30, 2022Close82.813Sep 9, 2022Close81.625Sep 20, 2022Close80.250Sep 29, 2022Close79.063Oct 11, 2022Close78.156Oct 20, 2022Close76.563Oct 31, 2022Close77.594Nov 9, 2022Close77.500Nov 21, 2022Close79.188Dec 1, 2022Close81.063Dec 12, 2022Close80.500Dec 21, 2022Close80.281Jan 3, 2023Close79.656Jan 12, 2023Close82.000Jan 24, 2023Close82.000Feb 2, 2023Close82.406Feb 13, 2023Close80.281Feb 23, 2023Close79.188Mar 6, 2023Close78.594Mar 15, 2023Close81.688Mar 24, 2023Close82.625Apr 4, 2023Close82.813Apr 13, 2023Close82.281Apr 24, 2023Close81.969May 3, 2023Close83.063May 12, 2023Close82.625May 23, 2023Close81.156Jun 2, 2023Close80.906Jun 13, 2023Close80.156Jun 23, 2023Close80.594Jul 5, 2023Close79.438Jul 14, 2023Close80.375Jul 25, 2023Close79.844Aug 3, 2023Close78.781Aug 14, 2023Close78.719Aug 23, 2023Close78.719Sep 1, 2023Close79.031Sep 13, 2023Close78.688Sep 22, 2023Close77.781Oct 3, 2023Close76.313Oct 13, 2023Close77.281Oct 24, 2023Close76.406Nov 2, 2023Close77.281Nov 13, 2023Close77.344Nov 22, 2023Close78.563Dec 4, 2023Close79.500Dec 13, 2023Close80.875Dec 22, 2023Close81.531Jan 4, 2024Close81.219Jan 16, 2024Close81.250Jan 25, 2024Close80.906Feb 5, 2024Close80.594Feb 14, 2024Close80.125Feb 26, 2024Close80.031Mar 6, 2024Close81.031Mar 15, 2024Close80.094Mar 26, 2024Close80.625Apr 4, 2024Close80.344Apr 15, 2024Close78.875Apr 24, 2024Close78.875May 3, 2024Close79.781May 14, 2024Close79.969May 23, 2024Close79.813Jun 4, 2024Close80.688Jun 13, 2024Close81.250Jun 25, 2024Close81.250Jul 5, 2024Close81.406Jul 16, 2024Close82.063Jul 25, 2024Close81.813Aug 5, 2024Close84.313Aug 14, 2024Close84.125Aug 23, 2024Close84.281Sep 4, 2024Close84.750Sep 13, 2024Close85.406Sep 24, 2024Close85.219Oct 3, 2024Close84.625Oct 15, 2024Close83.688Oct 24, 2024Close82.969Nov 4, 2024Close82.469Nov 14, 2024Close81.906Nov 25, 2024Close82.656Dec 5, 2024Close83.156Dec 16, 2024Close82.500Dec 26, 2024Close81.813Jan 7, 2025Close81.750Jan 16, 2025Close82.094Jan 28, 2025Close82.438Feb 6, 2025Close82.781Feb 18, 2025Close82.375Feb 27, 2025Close83.688Mar 10, 2025Close84.250Mar 19, 2025Close84.125Mar 28, 2025Close84.438Apr 8, 2025Close84.938Apr 17, 2025Close84.719Apr 28, 2025Close85.375May 7, 2025Close85.250May 16, 2025Close84.531May 28, 2025Close84.625Jun 6, 2025Close84.469Jun 17, 2025Close85.094Jun 27, 2025Close85.844Jul 9, 2025Close85.594Jul 18, 2025Close85.469Jul 29, 2025Close85.781Aug 7, 2025Close86.313Aug 18, 2025Close86.156Aug 27, 2025Close86.781Sep 8, 2025Close87.438Sep 17, 2025Close87.281Sep 26, 2025Close86.781Oct 7, 2025Close87.094Oct 17, 2025Close87.656Oct 28, 2025Close87.625Nov 6, 2025Close87.406Nov 18, 2025Close87.469Nov 28, 2025Close87.906Dec 9, 2025Close87.344Dec 18, 2025Close87.875Dec 30, 2025Close87.938Jan 9, 2026Close87.719Jan 21, 2026Close87.531Jan 30, 2026Close87.781Feb 10, 2026Close88.156Feb 20, 2026Close88.406Mar 3, 2026Close88.500Mar 12, 2026Close87.656Mar 23, 2026Close87.438Apr 1, 2026Close87.531Apr 10, 2026Close87.719Apr 21, 2026Close87.906Apr 30, 2026Close87.563May 11, 2026Close87.469May 20, 2026Close87.031Jun 1, 2026Close87.250Jun 10, 2026Close87.031Jun 22, 2026Close87.000Jul 1, 2026Close87.281Jul 13, 2026Close87.000Jul 22, 2026Close86.906Jul 31, 2026Close86.938Aug 11, 2026Close87.219Aug 20, 2026Close87.344Aug 31, 2026Close87.063Sep 9, 2026Close86.781
The most recent 20 trading days of prices for 912828ZQ6.
DateBidOfferClose
Sep 9, 202686.81386.78186.781
Sep 8, 202686.95386.93886.906
Sep 4, 202687.01687.00086.969
Sep 3, 202687.12587.09487.031
Sep 2, 202686.92286.90686.906
Sep 1, 202686.98486.96986.875
Aug 31, 202687.07887.06387.063
Aug 28, 202687.15687.12587.063
Aug 27, 202687.42287.40687.344
Aug 26, 202687.42287.40687.375
Aug 25, 202687.46987.43887.469
Aug 24, 202687.35987.34487.281
Aug 21, 202687.23487.21987.250
Aug 20, 202687.35987.34487.344
Aug 19, 202687.40687.37587.438
Aug 18, 202687.39187.37587.375
Aug 17, 202687.42287.40687.344
Aug 14, 202687.45387.43887.375
Aug 13, 202687.48487.46987.469
Aug 12, 202687.35987.34487.281

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 912828ZQ6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 12, 2020May 15, 2020New issue$32.0bn$48.9bn2.69x0.700%
Jun 9, 2020Jun 15, 2020Reopening$29.0bn$29.4bn2.26x0.832%
Jul 8, 2020Jul 15, 2020Reopening$29.0bn$31.5bn2.62x0.653%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.