Inflation-linked (TIPS)

91282CBF7 · 0.125% due January 15, 2031

Original term
10-Year
Maturity
Jan 15, 2031
Coupon
0.125%
Pays
Semi-Annual
Dated
Jan 15, 2021
First coupon
Jul 15, 2021
Priced through
Sep 9, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$55.08bn
Held stripped
$0.0m
Share stripped
0.00%

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. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, September 9, 2026

An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.

Real yield
2.123%
Index ratio
1.2828
Real duration
4.288 yr
DV01
0.0393
Convexity
20.539
Real clean price
91.750
Accrued (real)
0.019
Real dirty price
91.769
Indexed principal
128.283
Money clean price
117.700

The index ratio is a multiplier, not a percentage: 1.2828 means the principal is worth that many times its original face today. So the real clean price of 91.750 is not what a buyer pays , multiply by the ratio to get 117.700 per 100 of original face.

Against the fitted real curve

Priced 2.0 bp cheap to the real curve on that day, 7.98 cents per 100 of face.

Not scored against its own history. A linker needs twenty observations before a score means anything.

Real yield, 1,406 observations

-2%-1%0%1%2%3%Jan 29, 2021Sep 9, 2026Jan 29, 2021Real yield-1.026%Feb 8, 2021Real yield-1.034%Feb 17, 2021Real yield-0.930%Feb 25, 2021Real yield-0.613%Mar 5, 2021Real yield-0.671%Mar 15, 2021Real yield-0.664%Mar 23, 2021Real yield-0.672%Mar 31, 2021Real yield-0.638%Apr 8, 2021Real yield-0.702%Apr 16, 2021Real yield-0.784%Apr 26, 2021Real yield-0.792%May 4, 2021Real yield-0.829%May 12, 2021Real yield-0.876%May 20, 2021Real yield-0.822%May 28, 2021Real yield-0.869%Jun 8, 2021Real yield-0.854%Jun 16, 2021Real yield-0.775%Jun 24, 2021Real yield-0.837%Jul 2, 2021Real yield-0.918%Jul 13, 2021Real yield-0.971%Jul 21, 2021Real yield-1.015%Jul 29, 2021Real yield-1.162%Aug 6, 2021Real yield-1.074%Aug 16, 2021Real yield-1.130%Aug 24, 2021Real yield-1.038%Sep 1, 2021Real yield-1.059%Sep 10, 2021Real yield-1.083%Sep 20, 2021Real yield-1.005%Sep 28, 2021Real yield-0.867%Oct 6, 2021Real yield-0.934%Oct 15, 2021Real yield-1.005%Oct 25, 2021Real yield-1.056%Nov 2, 2021Real yield-0.992%Nov 10, 2021Real yield-1.177%Nov 19, 2021Real yield-1.157%Nov 30, 2021Real yield-1.112%Dec 8, 2021Real yield-1.074%Dec 16, 2021Real yield-1.040%Dec 27, 2021Real yield-1.078%Jan 4, 2022Real yield-0.988%Jan 12, 2022Real yield-0.813%Jan 21, 2022Real yield-0.723%Jan 31, 2022Real yield-0.773%Feb 8, 2022Real yield-0.550%Feb 16, 2022Real yield-0.512%Feb 25, 2022Real yield-0.660%Mar 7, 2022Real yield-1.076%Mar 15, 2022Real yield-0.753%Mar 23, 2022Real yield-0.669%Mar 31, 2022Real yield-0.547%Apr 8, 2022Real yield-0.158%Apr 19, 2022Real yield-0.011%Apr 27, 2022Real yield-0.096%May 5, 2022Real yield0.161%May 13, 2022Real yield0.227%May 23, 2022Real yield0.249%Jun 1, 2022Real yield0.279%Jun 9, 2022Real yield0.276%Jun 17, 2022Real yield0.682%Jun 28, 2022Real yield0.730%Jul 7, 2022Real yield0.700%Jul 15, 2022Real yield0.586%Jul 25, 2022Real yield0.487%Aug 2, 2022Real yield0.275%Aug 10, 2022Real yield0.366%Aug 18, 2022Real yield0.386%Aug 26, 2022Real yield0.491%Sep 6, 2022Real yield0.903%Sep 14, 2022Real yield1.003%Sep 22, 2022Real yield1.392%Sep 30, 2022Real yield1.801%Oct 11, 2022Real yield1.727%Oct 19, 2022Real yield1.815%Oct 27, 2022Real yield1.574%Nov 4, 2022Real yield1.759%Nov 15, 2022Real yield1.527%Nov 23, 2022Real yield1.474%Dec 2, 2022Real yield1.149%Dec 12, 2022Real yield1.396%Dec 20, 2022Real yield1.512%Dec 29, 2022Real yield1.614%Jan 9, 2023Real yield1.381%Jan 18, 2023Real yield1.294%Jan 26, 2023Real yield1.197%Feb 3, 2023Real yield1.345%Feb 13, 2023Real yield1.441%Feb 22, 2023Real yield1.557%Mar 2, 2023Real yield1.592%Mar 10, 2023Real yield1.458%Mar 20, 2023Real yield1.328%Mar 28, 2023Real yield1.238%Apr 5, 2023Real yield1.052%Apr 13, 2023Real yield1.169%Apr 21, 2023Real yield1.293%May 1, 2023Real yield1.346%May 9, 2023Real yield1.277%May 17, 2023Real yield1.353%May 25, 2023Real yield1.613%Jun 5, 2023Real yield1.541%Jun 13, 2023Real yield1.703%Jun 22, 2023Real yield1.643%Jun 30, 2023Real yield1.710%Jul 11, 2023Real yield1.873%Jul 19, 2023Real yield1.639%Jul 27, 2023Real yield1.801%Aug 4, 2023Real yield1.778%Aug 14, 2023Real yield1.924%Aug 22, 2023Real yield2.072%Aug 30, 2023Real yield1.954%Sep 8, 2023Real yield2.001%Sep 18, 2023Real yield2.021%Sep 26, 2023Real yield2.289%Oct 4, 2023Real yield2.460%Oct 13, 2023Real yield2.330%Oct 23, 2023Real yield2.471%Oct 31, 2023Real yield2.483%Nov 8, 2023Real yield2.206%Nov 16, 2023Real yield2.217%Nov 27, 2023Real yield2.231%Dec 5, 2023Real yield2.042%Dec 13, 2023Real yield1.895%Dec 21, 2023Real yield1.714%Jan 2, 2024Real yield1.767%Jan 10, 2024Real yield1.833%Jan 19, 2024Real yield1.804%Jan 29, 2024Real yield1.743%Feb 6, 2024Real yield1.810%Feb 14, 2024Real yield1.939%Feb 23, 2024Real yield1.952%Mar 4, 2024Real yield1.854%Mar 12, 2024Real yield1.828%Mar 20, 2024Real yield1.907%Mar 28, 2024Real yield1.850%Apr 5, 2024Real yield1.973%Apr 15, 2024Real yield2.161%Apr 23, 2024Real yield2.162%May 1, 2024Real yield2.218%May 9, 2024Real yield2.083%May 17, 2024Real yield2.070%May 28, 2024Real yield2.175%Jun 5, 2024Real yield1.953%Jun 13, 2024Real yield1.992%Jun 24, 2024Real yield1.995%Jul 2, 2024Real yield2.084%Jul 11, 2024Real yield1.894%Jul 19, 2024Real yield1.901%Jul 29, 2024Real yield1.869%Aug 6, 2024Real yield1.721%Aug 14, 2024Real yield1.683%Aug 22, 2024Real yield1.683%Aug 30, 2024Real yield1.652%Sep 10, 2024Real yield1.526%Sep 18, 2024Real yield1.465%Sep 26, 2024Real yield1.492%Oct 4, 2024Real yield1.624%Oct 15, 2024Real yield1.614%Oct 23, 2024Real yield1.781%Oct 31, 2024Real yield1.838%Nov 8, 2024Real yield1.829%Nov 19, 2024Real yield1.927%Nov 27, 2024Real yield1.882%Dec 6, 2024Real yield1.804%Dec 16, 2024Real yield1.954%Dec 24, 2024Real yield2.138%Jan 3, 2025Real yield2.124%Jan 13, 2025Real yield2.179%Jan 22, 2025Real yield2.045%Jan 30, 2025Real yield1.927%Feb 7, 2025Real yield1.870%Feb 18, 2025Real yield1.889%Feb 26, 2025Real yield1.665%Mar 6, 2025Real yield1.677%Mar 14, 2025Real yield1.767%Mar 24, 2025Real yield1.702%Apr 1, 2025Real yield1.523%Apr 9, 2025Real yield1.768%Apr 17, 2025Real yield1.762%Apr 25, 2025Real yield1.637%May 5, 2025Real yield1.704%May 13, 2025Real yield1.814%May 21, 2025Real yield1.777%May 30, 2025Real yield1.620%Jun 9, 2025Real yield1.787%Jun 17, 2025Real yield1.675%Jun 26, 2025Real yield1.528%Jul 7, 2025Real yield1.585%Jul 15, 2025Real yield1.610%Jul 23, 2025Real yield1.516%Jul 31, 2025Real yield1.528%Aug 8, 2025Real yield1.384%Aug 18, 2025Real yield1.452%Aug 26, 2025Real yield1.270%Sep 4, 2025Real yield1.225%Sep 12, 2025Real yield1.212%Sep 22, 2025Real yield1.292%Sep 30, 2025Real yield1.322%Oct 8, 2025Real yield1.314%Oct 17, 2025Real yield1.295%Oct 27, 2025Real yield1.313%Nov 4, 2025Real yield1.370%Nov 13, 2025Real yield1.402%Nov 21, 2025Real yield1.363%Dec 2, 2025Real yield1.421%Dec 10, 2025Real yield1.466%Dec 18, 2025Real yield1.466%Dec 29, 2025Real yield1.500%Jan 7, 2026Real yield1.453%Jan 15, 2026Real yield1.459%Jan 26, 2026Real yield1.420%Feb 3, 2026Real yield1.337%Feb 11, 2026Real yield1.302%Feb 20, 2026Real yield1.255%Mar 2, 2026Real yield1.191%Mar 10, 2026Real yield1.217%Mar 18, 2026Real yield1.236%Mar 26, 2026Real yield1.555%Apr 3, 2026Real yield1.408%Apr 13, 2026Real yield1.336%Apr 21, 2026Real yield1.335%Apr 29, 2026Real yield1.312%May 7, 2026Real yield1.361%May 15, 2026Real yield1.490%May 26, 2026Real yield1.592%Jun 3, 2026Real yield1.621%Jun 11, 2026Real yield1.724%Jun 22, 2026Real yield1.975%Jun 30, 2026Real yield1.878%Jul 9, 2026Real yield1.926%Jul 17, 2026Real yield1.960%Jul 27, 2026Real yield2.162%Aug 4, 2026Real yield2.079%Aug 12, 2026Real yield2.073%Aug 20, 2026Real yield1.965%Aug 28, 2026Real yield2.102%Sep 8, 2026Real yield2.090%Sep 9, 2026Real yield2.123%

Price history

1,406 trading days to Sep 9, 2026

80859095100105110115Jan 29, 2021Sep 9, 2026Jan 29, 2021Close112.094Feb 8, 2021Close112.156Feb 17, 2021Close110.969Feb 25, 2021Close107.531Mar 5, 2021Close108.125Mar 15, 2021Close108.031Mar 23, 2021Close108.094Mar 31, 2021Close107.719Apr 8, 2021Close108.375Apr 16, 2021Close109.219Apr 26, 2021Close109.281May 4, 2021Close109.656May 12, 2021Close110.125May 20, 2021Close109.531May 28, 2021Close110.000Jun 8, 2021Close109.813Jun 16, 2021Close108.969Jun 24, 2021Close109.594Jul 2, 2021Close110.406Jul 13, 2021Close110.938Jul 21, 2021Close111.375Jul 29, 2021Close112.906Aug 6, 2021Close111.938Aug 16, 2021Close112.500Aug 24, 2021Close111.500Sep 1, 2021Close111.688Sep 10, 2021Close111.906Sep 20, 2021Close111.063Sep 28, 2021Close109.625Oct 6, 2021Close110.281Oct 15, 2021Close110.969Oct 25, 2021Close111.469Nov 2, 2021Close110.781Nov 10, 2021Close112.656Nov 19, 2021Close112.406Nov 30, 2021Close111.906Dec 8, 2021Close111.500Dec 16, 2021Close111.125Dec 27, 2021Close111.469Jan 4, 2022Close110.531Jan 12, 2022Close108.781Jan 21, 2022Close107.875Jan 31, 2022Close108.344Feb 8, 2022Close106.188Feb 16, 2022Close105.813Feb 25, 2022Close107.188Mar 7, 2022Close111.188Mar 15, 2022Close108.031Mar 23, 2022Close107.219Mar 31, 2022Close106.063Apr 8, 2022Close102.500Apr 19, 2022Close101.188Apr 27, 2022Close101.938May 5, 2022Close99.688May 13, 2022Close99.125May 23, 2022Close98.938Jun 1, 2022Close98.688Jun 9, 2022Close98.719Jun 17, 2022Close95.375Jun 28, 2022Close95.000Jul 7, 2022Close95.250Jul 15, 2022Close96.188Jul 25, 2022Close97.000Aug 2, 2022Close98.750Aug 10, 2022Close98.000Aug 18, 2022Close97.844Aug 26, 2022Close97.000Sep 6, 2022Close93.750Sep 14, 2022Close93.000Sep 22, 2022Close90.094Sep 30, 2022Close87.156Oct 11, 2022Close87.719Oct 19, 2022Close87.125Oct 27, 2022Close88.875Nov 4, 2022Close87.594Nov 15, 2022Close89.281Nov 23, 2022Close89.688Dec 2, 2022Close92.094Dec 12, 2022Close90.313Dec 20, 2022Close89.500Dec 29, 2022Close88.813Jan 9, 2023Close90.500Jan 18, 2023Close91.156Jan 26, 2023Close91.875Feb 3, 2023Close90.844Feb 13, 2023Close90.188Feb 22, 2023Close89.406Mar 2, 2023Close89.188Mar 10, 2023Close90.156Mar 20, 2023Close91.094Mar 28, 2023Close91.750Apr 5, 2023Close93.094Apr 13, 2023Close92.281Apr 21, 2023Close91.438May 1, 2023Close91.094May 9, 2023Close91.594May 17, 2023Close91.094May 25, 2023Close89.344Jun 5, 2023Close89.875Jun 13, 2023Close88.813Jun 22, 2023Close89.250Jun 30, 2023Close88.844Jul 11, 2023Close87.813Jul 19, 2023Close89.375Jul 27, 2023Close88.344Aug 4, 2023Close88.531Aug 14, 2023Close87.625Aug 22, 2023Close86.719Aug 30, 2023Close87.500Sep 8, 2023Close87.250Sep 18, 2023Close87.156Sep 26, 2023Close85.531Oct 4, 2023Close84.531Oct 13, 2023Close85.375Oct 23, 2023Close84.563Oct 31, 2023Close84.531Nov 8, 2023Close86.250Nov 16, 2023Close86.219Nov 27, 2023Close86.188Dec 5, 2023Close87.375Dec 13, 2023Close88.313Dec 21, 2023Close89.469Jan 2, 2024Close89.188Jan 10, 2024Close88.813Jan 19, 2024Close89.031Jan 29, 2024Close89.438Feb 6, 2024Close89.063Feb 14, 2024Close88.313Feb 23, 2024Close88.281Mar 4, 2024Close88.906Mar 12, 2024Close89.094Mar 20, 2024Close88.656Mar 28, 2024Close89.031Apr 5, 2024Close88.344Apr 15, 2024Close87.281Apr 23, 2024Close87.313May 1, 2024Close87.031May 9, 2024Close87.844May 17, 2024Close87.969May 28, 2024Close87.406Jun 5, 2024Close88.719Jun 13, 2024Close88.531Jun 24, 2024Close88.563Jul 2, 2024Close88.094Jul 11, 2024Close89.219Jul 19, 2024Close89.219Jul 29, 2024Close89.438Aug 6, 2024Close90.313Aug 14, 2024Close90.563Aug 22, 2024Close90.594Aug 30, 2024Close90.813Sep 10, 2024Close91.563Sep 18, 2024Close91.938Sep 26, 2024Close91.813Oct 4, 2024Close91.094Oct 15, 2024Close91.188Oct 23, 2024Close90.281Oct 31, 2024Close90.000Nov 8, 2024Close90.094Nov 19, 2024Close89.594Nov 27, 2024Close89.875Dec 6, 2024Close90.344Dec 16, 2024Close89.563Dec 24, 2024Close88.625Jan 3, 2025Close88.750Jan 13, 2025Close88.500Jan 22, 2025Close89.250Jan 30, 2025Close89.906Feb 7, 2025Close90.250Feb 18, 2025Close90.188Feb 26, 2025Close91.406Mar 6, 2025Close91.375Mar 14, 2025Close90.938Mar 24, 2025Close91.313Apr 1, 2025Close92.281Apr 9, 2025Close91.031Apr 17, 2025Close91.094Apr 25, 2025Close91.781May 5, 2025Close91.469May 13, 2025Close90.938May 21, 2025Close91.156May 30, 2025Close92.000Jun 9, 2025Close91.188Jun 17, 2025Close91.781Jun 26, 2025Close92.563Jul 7, 2025Close92.313Jul 15, 2025Close92.219Jul 23, 2025Close92.719Jul 31, 2025Close92.688Aug 8, 2025Close93.438Aug 18, 2025Close93.125Aug 26, 2025Close94.063Sep 4, 2025Close94.313Sep 12, 2025Close94.406Sep 22, 2025Close94.031Sep 30, 2025Close93.906Oct 8, 2025Close93.969Oct 17, 2025Close94.094Oct 27, 2025Close94.031Nov 4, 2025Close93.781Nov 13, 2025Close93.656Nov 21, 2025Close93.875Dec 2, 2025Close93.625Dec 10, 2025Close93.438Dec 18, 2025Close93.469Dec 29, 2025Close93.344Jan 7, 2026Close93.594Jan 15, 2026Close93.594Jan 26, 2026Close93.813Feb 3, 2026Close94.219Feb 11, 2026Close94.406Feb 20, 2026Close94.656Mar 2, 2026Close94.969Mar 10, 2026Close94.875Mar 18, 2026Close94.813Mar 26, 2026Close93.406Apr 3, 2026Close94.094Apr 13, 2026Close94.438Apr 21, 2026Close94.469Apr 29, 2026Close94.594May 7, 2026Close94.406May 15, 2026Close93.875May 26, 2026Close93.469Jun 3, 2026Close93.375Jun 11, 2026Close92.969Jun 22, 2026Close91.969Jun 30, 2026Close92.406Jul 9, 2026Close92.250Jul 17, 2026Close92.156Jul 27, 2026Close91.375Aug 4, 2026Close91.750Aug 12, 2026Close91.813Aug 20, 2026Close92.281Aug 28, 2026Close91.781Sep 8, 2026Close91.875Sep 9, 2026Close91.750
The most recent 20 trading days of prices for 91282CBF7.
DateBidOfferClose
Sep 9, 202691.78191.75091.750
Sep 8, 202691.89191.87591.875
Sep 4, 202691.84491.81391.844
Sep 3, 202692.06392.03191.906
Sep 2, 202691.79791.78191.750
Sep 1, 202691.79791.78191.781
Aug 31, 202691.81391.78191.813
Aug 28, 202691.95391.90691.781
Aug 27, 202692.29792.28192.250
Aug 26, 202692.26692.25092.281
Aug 25, 202692.37592.34492.344
Aug 24, 202692.25092.21992.188
Aug 21, 202692.18892.15692.156
Aug 20, 202692.21992.18892.281
Aug 19, 202692.21992.18892.188
Aug 18, 202692.07892.06392.063
Aug 17, 202692.01692.00091.969
Aug 14, 202692.00091.96991.969
Aug 13, 202692.03192.00092.000
Aug 12, 202691.90691.87591.813

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 91282CBF7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 21, 2021Jan 29, 2021New issue$15.0bn$15.0bn2.68x-0.987%
Mar 18, 2021Mar 31, 2021Reopening$13.0bn$15.3bn2.42x-0.580%
May 20, 2021May 28, 2021Reopening$13.0bn$13.0bn2.50x-0.805%

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.