Treasury note

912828ZV5 · 0.5% due June 30, 2027

Original term
7-Year
Maturity
Jun 30, 2027
Coupon
0.500%
Pays
Semi-Annual
Dated
Jun 30, 2020
First coupon
Dec 31, 2020
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$45.95bn
Held stripped
$96.0m
Share stripped
0.21%

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
4.171%
Modified duration
0.787 yr
DV01
0.0076
Convexity
1.005
Dirty price
97.223

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 3 of twelve buckets, summing to 0.801 years against a modified duration of 0.787.

Against the fitted curve

Priced 0.3 bp cheap to the curve on that day, 0.20 cents per 100 of face.

That is 0.33 standard deviations from its own typical residual.

Yield to maturity, 1,551 observations

0%1%2%3%4%5%6%Jun 30, 2020Sep 9, 2026Jun 30, 2020Yield to maturity0.491%Jul 10, 2020Yield to maturity0.486%Jul 21, 2020Yield to maturity0.450%Jul 30, 2020Yield to maturity0.395%Aug 10, 2020Yield to maturity0.412%Aug 19, 2020Yield to maturity0.472%Aug 28, 2020Yield to maturity0.495%Sep 9, 2020Yield to maturity0.463%Sep 18, 2020Yield to maturity0.462%Sep 29, 2020Yield to maturity0.420%Oct 8, 2020Yield to maturity0.514%Oct 20, 2020Yield to maturity0.538%Oct 29, 2020Yield to maturity0.581%Nov 9, 2020Yield to maturity0.659%Nov 19, 2020Yield to maturity0.587%Dec 1, 2020Yield to maturity0.631%Dec 10, 2020Yield to maturity0.588%Dec 21, 2020Yield to maturity0.598%Dec 31, 2020Yield to maturity0.574%Jan 12, 2021Yield to maturity0.743%Jan 22, 2021Yield to maturity0.674%Feb 2, 2021Yield to maturity0.685%Feb 11, 2021Yield to maturity0.706%Feb 23, 2021Yield to maturity0.880%Mar 4, 2021Yield to maturity1.090%Mar 15, 2021Yield to maturity1.156%Mar 24, 2021Yield to maturity1.137%Apr 2, 2021Yield to maturity1.284%Apr 13, 2021Yield to maturity1.153%Apr 22, 2021Yield to maturity1.097%May 3, 2021Yield to maturity1.127%May 12, 2021Yield to maturity1.162%May 21, 2021Yield to maturity1.105%Jun 2, 2021Yield to maturity1.070%Jun 11, 2021Yield to maturity0.986%Jun 22, 2021Yield to maturity1.064%Jul 1, 2021Yield to maturity1.078%Jul 13, 2021Yield to maturity1.009%Jul 22, 2021Yield to maturity0.857%Aug 2, 2021Yield to maturity0.793%Aug 11, 2021Yield to maturity0.943%Aug 20, 2021Yield to maturity0.907%Aug 31, 2021Yield to maturity0.903%Sep 10, 2021Yield to maturity0.939%Sep 21, 2021Yield to maturity0.952%Sep 30, 2021Yield to maturity1.125%Oct 12, 2021Yield to maturity1.204%Oct 21, 2021Yield to maturity1.335%Nov 1, 2021Yield to maturity1.304%Nov 10, 2021Yield to maturity1.308%Nov 22, 2021Yield to maturity1.396%Dec 2, 2021Yield to maturity1.257%Dec 13, 2021Yield to maturity1.267%Dec 22, 2021Yield to maturity1.288%Jan 3, 2022Yield to maturity1.427%Jan 12, 2022Yield to maturity1.554%Jan 24, 2022Yield to maturity1.579%Feb 2, 2022Yield to maturity1.646%Feb 11, 2022Yield to maturity1.869%Feb 23, 2022Yield to maturity1.927%Mar 4, 2022Yield to maturity1.665%Mar 15, 2022Yield to maturity2.131%Mar 24, 2022Yield to maturity2.399%Apr 4, 2022Yield to maturity2.579%Apr 13, 2022Yield to maturity2.699%Apr 25, 2022Yield to maturity2.873%May 4, 2022Yield to maturity2.961%May 13, 2022Yield to maturity2.926%May 24, 2022Yield to maturity2.789%Jun 3, 2022Yield to maturity2.990%Jun 14, 2022Yield to maturity3.647%Jun 24, 2022Yield to maturity3.215%Jul 6, 2022Yield to maturity3.010%Jul 15, 2022Yield to maturity3.084%Jul 26, 2022Yield to maturity2.928%Aug 4, 2022Yield to maturity2.793%Aug 15, 2022Yield to maturity2.940%Aug 24, 2022Yield to maturity3.267%Sep 2, 2022Yield to maturity3.346%Sep 14, 2022Yield to maturity3.639%Sep 23, 2022Yield to maturity4.006%Oct 4, 2022Yield to maturity3.889%Oct 14, 2022Yield to maturity4.301%Oct 25, 2022Yield to maturity4.288%Nov 3, 2022Yield to maturity4.407%Nov 15, 2022Yield to maturity3.972%Nov 25, 2022Yield to maturity3.956%Dec 6, 2022Yield to maturity3.818%Dec 15, 2022Yield to maturity3.697%Dec 27, 2022Yield to maturity4.010%Jan 6, 2023Yield to maturity3.752%Jan 18, 2023Yield to maturity3.482%Jan 27, 2023Yield to maturity3.685%Feb 7, 2023Yield to maturity3.914%Feb 16, 2023Yield to maturity4.148%Feb 28, 2023Yield to maturity4.281%Mar 9, 2023Yield to maturity4.337%Mar 20, 2023Yield to maturity3.710%Mar 29, 2023Yield to maturity3.781%Apr 7, 2023Yield to maturity3.587%Apr 18, 2023Yield to maturity3.780%Apr 27, 2023Yield to maturity3.694%May 8, 2023Yield to maturity3.585%May 17, 2023Yield to maturity3.683%May 26, 2023Yield to maturity4.088%Jun 7, 2023Yield to maturity4.064%Jun 16, 2023Yield to maturity4.158%Jun 28, 2023Yield to maturity4.134%Jul 10, 2023Yield to maturity4.390%Jul 19, 2023Yield to maturity4.140%Jul 28, 2023Yield to maturity4.348%Aug 8, 2023Yield to maturity4.238%Aug 17, 2023Yield to maturity4.542%Aug 28, 2023Yield to maturity4.544%Sep 7, 2023Yield to maturity4.533%Sep 18, 2023Yield to maturity4.625%Sep 27, 2023Yield to maturity4.812%Oct 6, 2023Yield to maturity4.830%Oct 18, 2023Yield to maturity5.002%Oct 27, 2023Yield to maturity4.822%Nov 7, 2023Yield to maturity4.625%Nov 16, 2023Yield to maturity4.529%Nov 28, 2023Yield to maturity4.431%Dec 7, 2023Yield to maturity4.251%Dec 18, 2023Yield to maturity4.087%Dec 28, 2023Yield to maturity3.969%Jan 9, 2024Yield to maturity4.065%Jan 19, 2024Yield to maturity4.141%Jan 30, 2024Yield to maturity4.104%Feb 8, 2024Yield to maturity4.216%Feb 20, 2024Yield to maturity4.372%Feb 29, 2024Yield to maturity4.400%Mar 11, 2024Yield to maturity4.249%Mar 20, 2024Yield to maturity4.388%Mar 29, 2024Yield to maturity4.391%Apr 9, 2024Yield to maturity4.534%Apr 18, 2024Yield to maturity4.818%Apr 29, 2024Yield to maturity4.801%May 8, 2024Yield to maturity4.648%May 17, 2024Yield to maturity4.583%May 29, 2024Yield to maturity4.761%Jun 7, 2024Yield to maturity4.636%Jun 18, 2024Yield to maturity4.434%Jun 28, 2024Yield to maturity4.522%Jul 10, 2024Yield to maturity4.401%Jul 19, 2024Yield to maturity4.294%Jul 30, 2024Yield to maturity4.178%Aug 8, 2024Yield to maturity3.903%Aug 19, 2024Yield to maturity3.889%Aug 28, 2024Yield to maturity3.757%Sep 9, 2024Yield to maturity3.558%Sep 18, 2024Yield to maturity3.522%Sep 27, 2024Yield to maturity3.505%Oct 8, 2024Yield to maturity3.916%Oct 18, 2024Yield to maturity3.879%Oct 29, 2024Yield to maturity4.094%Nov 7, 2024Yield to maturity4.195%Nov 19, 2024Yield to maturity4.268%Nov 29, 2024Yield to maturity4.165%Dec 10, 2024Yield to maturity4.132%Dec 19, 2024Yield to maturity4.348%Dec 31, 2024Yield to maturity4.290%Jan 10, 2025Yield to maturity4.437%Jan 22, 2025Yield to maturity4.322%Jan 31, 2025Yield to maturity4.254%Feb 11, 2025Yield to maturity4.293%Feb 21, 2025Yield to maturity4.198%Mar 4, 2025Yield to maturity3.953%Mar 13, 2025Yield to maturity3.945%Mar 24, 2025Yield to maturity4.022%Apr 2, 2025Yield to maturity3.907%Apr 11, 2025Yield to maturity3.985%Apr 22, 2025Yield to maturity3.820%May 1, 2025Yield to maturity3.700%May 12, 2025Yield to maturity4.003%May 21, 2025Yield to maturity4.012%Jun 2, 2025Yield to maturity3.952%Jun 11, 2025Yield to maturity3.944%Jun 23, 2025Yield to maturity3.848%Jul 2, 2025Yield to maturity3.804%Jul 14, 2025Yield to maturity3.894%Jul 23, 2025Yield to maturity3.884%Aug 1, 2025Yield to maturity3.705%Aug 12, 2025Yield to maturity3.747%Aug 21, 2025Yield to maturity3.790%Sep 2, 2025Yield to maturity3.682%Sep 11, 2025Yield to maturity3.556%Sep 22, 2025Yield to maturity3.608%Oct 1, 2025Yield to maturity3.575%Oct 10, 2025Yield to maturity3.555%Oct 22, 2025Yield to maturity3.480%Oct 31, 2025Yield to maturity3.615%Nov 12, 2025Yield to maturity3.585%Nov 21, 2025Yield to maturity3.538%Dec 3, 2025Yield to maturity3.527%Dec 12, 2025Yield to maturity3.543%Dec 23, 2025Yield to maturity3.548%Jan 5, 2026Yield to maturity3.464%Jan 14, 2026Yield to maturity3.515%Jan 26, 2026Yield to maturity3.585%Feb 4, 2026Yield to maturity3.568%Feb 13, 2026Yield to maturity3.449%Feb 25, 2026Yield to maturity3.528%Mar 6, 2026Yield to maturity3.599%Mar 17, 2026Yield to maturity3.685%Mar 26, 2026Yield to maturity3.985%Apr 6, 2026Yield to maturity3.855%Apr 15, 2026Yield to maturity3.787%Apr 24, 2026Yield to maturity3.760%May 5, 2026Yield to maturity3.859%May 14, 2026Yield to maturity3.875%May 26, 2026Yield to maturity3.948%Jun 4, 2026Yield to maturity3.935%Jun 15, 2026Yield to maturity3.973%Jun 25, 2026Yield to maturity4.068%Jul 7, 2026Yield to maturity4.121%Jul 16, 2026Yield to maturity4.041%Jul 27, 2026Yield to maturity4.192%Aug 5, 2026Yield to maturity4.073%Aug 14, 2026Yield to maturity4.007%Aug 25, 2026Yield to maturity4.032%Sep 3, 2026Yield to maturity4.138%Sep 9, 2026Yield to maturity4.171%

Price history

1,551 trading days to Sep 9, 2026

80859095100105Jun 30, 2020Sep 9, 2026Jun 30, 2020Close100.063Jul 10, 2020Close100.094Jul 21, 2020Close100.344Jul 30, 2020Close100.719Aug 10, 2020Close100.594Aug 19, 2020Close100.188Aug 28, 2020Close100.031Sep 9, 2020Close100.250Sep 18, 2020Close100.250Sep 29, 2020Close100.531Oct 8, 2020Close99.906Oct 20, 2020Close99.750Oct 29, 2020Close99.469Nov 9, 2020Close98.969Nov 19, 2020Close99.438Dec 1, 2020Close99.156Dec 10, 2020Close99.438Dec 21, 2020Close99.375Dec 31, 2020Close99.531Jan 12, 2021Close98.469Jan 22, 2021Close98.906Feb 2, 2021Close98.844Feb 11, 2021Close98.719Feb 23, 2021Close97.656Mar 4, 2021Close96.406Mar 15, 2021Close96.031Mar 24, 2021Close96.156Apr 2, 2021Close95.313Apr 13, 2021Close96.094Apr 22, 2021Close96.438May 3, 2021Close96.281May 12, 2021Close96.094May 21, 2021Close96.438Jun 2, 2021Close96.656Jun 11, 2021Close97.156Jun 22, 2021Close96.719Jul 1, 2021Close96.656Jul 13, 2021Close97.063Jul 22, 2021Close97.938Aug 2, 2021Close98.313Aug 11, 2021Close97.469Aug 20, 2021Close97.688Aug 31, 2021Close97.719Sep 10, 2021Close97.531Sep 21, 2021Close97.469Sep 30, 2021Close96.531Oct 12, 2021Close96.125Oct 21, 2021Close95.438Nov 1, 2021Close95.625Nov 10, 2021Close95.625Nov 22, 2021Close95.188Dec 2, 2021Close95.938Dec 13, 2021Close95.906Dec 22, 2021Close95.813Jan 3, 2022Close95.125Jan 12, 2022Close94.500Jan 24, 2022Close94.406Feb 2, 2022Close94.094Feb 11, 2022Close93.031Feb 23, 2022Close92.781Mar 4, 2022Close94.094Mar 15, 2022Close91.875Mar 24, 2022Close90.656Apr 4, 2022Close89.875Apr 13, 2022Close89.375Apr 25, 2022Close88.656May 4, 2022Close88.313May 13, 2022Close88.531May 24, 2022Close89.188Jun 3, 2022Close88.375Jun 14, 2022Close85.625Jun 24, 2022Close87.531Jul 6, 2022Close88.469Jul 15, 2022Close88.219Jul 26, 2022Close88.938Aug 4, 2022Close89.563Aug 15, 2022Close89.000Aug 24, 2022Close87.688Sep 2, 2022Close87.438Sep 14, 2022Close86.313Sep 23, 2022Close84.938Oct 4, 2022Close85.469Oct 14, 2022Close83.969Oct 25, 2022Close84.094Nov 3, 2022Close83.719Nov 15, 2022Close85.469Nov 25, 2022Close85.625Dec 6, 2022Close86.219Dec 15, 2022Close86.750Dec 27, 2022Close85.656Jan 6, 2023Close86.719Jan 18, 2023Close87.813Jan 27, 2023Close87.125Feb 7, 2023Close86.344Feb 16, 2023Close85.563Feb 28, 2023Close85.188Mar 9, 2023Close85.063Mar 20, 2023Close87.406Mar 29, 2023Close87.219Apr 7, 2023Close88.000Apr 18, 2023Close87.375Apr 27, 2023Close87.750May 8, 2023Close88.219May 17, 2023Close87.938May 26, 2023Close86.625Jun 7, 2023Close86.781Jun 16, 2023Close86.563Jun 28, 2023Close86.719Jul 10, 2023Close85.969Jul 19, 2023Close86.875Jul 28, 2023Close86.281Aug 8, 2023Close86.719Aug 17, 2023Close85.813Aug 28, 2023Close85.906Sep 7, 2023Close86.031Sep 18, 2023Close85.844Sep 27, 2023Close85.344Oct 6, 2023Close85.406Oct 18, 2023Close84.969Oct 27, 2023Close85.625Nov 7, 2023Close86.313Nov 16, 2023Close86.688Nov 28, 2023Close87.094Dec 7, 2023Close87.719Dec 18, 2023Close88.313Dec 28, 2023Close88.750Jan 9, 2024Close88.563Jan 19, 2024Close88.438Jan 30, 2024Close88.625Feb 8, 2024Close88.375Feb 20, 2024Close88.031Feb 29, 2024Close88.031Mar 11, 2024Close88.563Mar 20, 2024Close88.250Mar 29, 2024Close88.344Apr 9, 2024Close88.031Apr 18, 2024Close87.344Apr 29, 2024Close87.500May 8, 2024Close88.000May 17, 2024Close88.281May 29, 2024Close87.906Jun 7, 2024Close88.344Jun 18, 2024Close88.969Jun 28, 2024Close88.844Jul 10, 2024Close89.250Jul 19, 2024Close89.625Jul 30, 2024Close90.000Aug 8, 2024Close90.781Aug 19, 2024Close90.906Aug 28, 2024Close91.313Sep 9, 2024Close91.906Sep 18, 2024Close92.063Sep 27, 2024Close92.188Oct 8, 2024Close91.250Oct 18, 2024Close91.438Oct 29, 2024Close91.000Nov 7, 2024Close90.844Nov 19, 2024Close90.781Nov 29, 2024Close91.125Dec 10, 2024Close91.281Dec 19, 2024Close90.875Dec 31, 2024Close91.125Jan 10, 2025Close90.906Jan 22, 2025Close91.250Jan 31, 2025Close91.500Feb 11, 2025Close91.500Feb 21, 2025Close91.813Mar 4, 2025Close92.406Mar 13, 2025Close92.500Mar 24, 2025Close92.438Apr 2, 2025Close92.750Apr 11, 2025Close92.688Apr 22, 2025Close93.094May 1, 2025Close93.406May 12, 2025Close92.906May 21, 2025Close92.969Jun 2, 2025Close93.188Jun 11, 2025Close93.281Jun 23, 2025Close93.563Jul 2, 2025Close93.719Jul 14, 2025Close93.656Jul 23, 2025Close93.750Aug 1, 2025Close94.156Aug 12, 2025Close94.156Aug 21, 2025Close94.156Sep 2, 2025Close94.438Sep 11, 2025Close94.719Sep 22, 2025Close94.719Oct 1, 2025Close94.844Oct 10, 2025Close94.969Oct 22, 2025Close95.156Oct 31, 2025Close95.031Nov 12, 2025Close95.156Nov 21, 2025Close95.313Dec 3, 2025Close95.406Dec 12, 2025Close95.469Dec 23, 2025Close95.531Jan 5, 2026Close95.750Jan 14, 2026Close95.750Jan 26, 2026Close95.750Feb 4, 2026Close95.844Feb 13, 2026Close96.094Feb 25, 2026Close96.063Mar 6, 2026Close96.063Mar 17, 2026Close96.031Mar 26, 2026Close95.750Apr 6, 2026Close96.000Apr 15, 2026Close96.156Apr 24, 2026Close96.281May 5, 2026Close96.250May 14, 2026Close96.313May 26, 2026Close96.344Jun 4, 2026Close96.438Jun 15, 2026Close96.500Jun 25, 2026Close96.500Jul 7, 2026Close96.563Jul 16, 2026Close96.719Jul 27, 2026Close96.688Aug 5, 2026Close96.875Aug 14, 2026Close97.031Aug 25, 2026Close97.094Sep 3, 2026Close97.094Sep 9, 2026Close97.125
The most recent 20 trading days of prices for 912828ZV5.
DateBidOfferClose
Sep 9, 202697.14197.12597.125
Sep 8, 202697.14197.12597.125
Sep 4, 202697.14197.12597.125
Sep 3, 202697.10997.09497.094
Sep 2, 202697.07897.06397.063
Sep 1, 202697.07897.06397.063
Aug 31, 202697.06397.03197.031
Aug 28, 202697.06397.03197.031
Aug 27, 202697.10997.09497.094
Aug 26, 202697.10997.09497.063
Aug 25, 202697.09497.09497.094
Aug 24, 202697.07897.06397.063
Aug 21, 202697.04797.03197.063
Aug 20, 202697.07897.06397.031
Aug 19, 202697.06397.03197.031
Aug 18, 202697.04797.03197.031
Aug 17, 202697.04797.03197.031
Aug 14, 202697.04797.03197.031
Aug 13, 202697.01697.00097.000
Aug 12, 202696.95396.93896.969

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.

Auction

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 912828ZV5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 25, 2020Jun 30, 2020New issue$41.0bn$46.6bn2.49x0.511%

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.