Treasury bond

912810FM5 · 6.25% due May 15, 2030

Original term
30-Year 3-Month
Maturity
May 15, 2030
Coupon
6.250%
Pays
Semi-Annual
Dated
Nov 15, 1999
First coupon
May 15, 2000
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$17.04bn
Held stripped
$612.5m
Share stripped
3.59%

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 10, 2026

Yield to maturity
4.722%
Modified duration
3.214 yr
DV01
0.0344
Convexity
12.692
Dirty price
107.115

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 3.287 years against a modified duration of 3.214.

Against the fitted curve

Priced 1.8 bp cheap to the curve on that day, 6.05 cents per 100 of face.

That is -1.84 standard deviations from its own typical residual.

Yield to maturity, 4,509 observations

0%1%2%3%4%5%6%Sep 2, 2008Sep 10, 2026Sep 2, 2008Yield to maturity4.392%Feb 2, 2009Yield to maturity3.766%Jun 30, 2009Yield to maturity4.304%Nov 27, 2009Yield to maturity4.074%Apr 27, 2010Yield to maturity4.382%Sep 21, 2010Yield to maturity3.460%Feb 18, 2011Yield to maturity4.414%Jul 19, 2011Yield to maturity3.794%Dec 15, 2011Yield to maturity2.546%May 14, 2012Yield to maturity2.434%Oct 10, 2012Yield to maturity2.355%Mar 13, 2013Yield to maturity2.710%Aug 8, 2013Yield to maturity3.205%Jan 8, 2014Yield to maturity3.503%Jun 6, 2014Yield to maturity3.015%Nov 4, 2014Yield to maturity2.637%Apr 7, 2015Yield to maturity2.152%Sep 1, 2015Yield to maturity2.453%Feb 2, 2016Yield to maturity2.088%Jun 29, 2016Yield to maturity1.632%Nov 28, 2016Yield to maturity2.472%Apr 27, 2017Yield to maturity2.398%Sep 22, 2017Yield to maturity2.328%Feb 22, 2018Yield to maturity2.963%Jul 20, 2018Yield to maturity2.915%Dec 19, 2018Yield to maturity2.790%May 20, 2019Yield to maturity2.439%Oct 16, 2019Yield to maturity1.758%Mar 17, 2020Yield to maturity1.087%Aug 12, 2020Yield to maturity0.632%Jan 12, 2021Yield to maturity1.017%Jun 9, 2021Yield to maturity1.337%Nov 4, 2021Yield to maturity1.401%Apr 5, 2022Yield to maturity2.592%Sep 1, 2022Yield to maturity3.338%Feb 2, 2023Yield to maturity3.473%Jun 30, 2023Yield to maturity4.031%Nov 28, 2023Yield to maturity4.383%Apr 25, 2024Yield to maturity4.772%Sep 23, 2024Yield to maturity3.596%Feb 24, 2025Yield to maturity4.279%Jul 22, 2025Yield to maturity3.906%Dec 18, 2025Yield to maturity3.670%May 18, 2026Yield to maturity4.263%Sep 10, 2026Yield to maturity4.722%

Price history

4,509 trading days to Sep 10, 2026

100110120130140150160170Sep 2, 2008Sep 10, 2026Sep 2, 2008Close125.813Feb 2, 2009Close136.125Jun 30, 2009Close126.625Nov 27, 2009Close130.000Apr 27, 2010Close124.750Sep 21, 2010Close139.531Feb 18, 2011Close123.625Jul 19, 2011Close132.813Dec 15, 2011Close154.188May 14, 2012Close155.344Oct 10, 2012Close155.844Mar 13, 2013Close148.344Aug 8, 2013Close139.250Jan 8, 2014Close133.969Jun 6, 2014Close140.688Nov 4, 2014Close145.781Apr 7, 2015Close152.594Sep 1, 2015Close146.625Feb 2, 2016Close151.156Jun 29, 2016Close157.125Nov 28, 2016Close143.031Apr 27, 2017Close142.938Sep 22, 2017Close142.719Feb 22, 2018Close133.500Jul 20, 2018Close133.125Dec 19, 2018Close133.594May 20, 2019Close136.531Oct 16, 2019Close143.188Mar 17, 2020Close149.531Aug 12, 2020Close153.063Jan 12, 2021Close146.500Jun 9, 2021Close141.219Nov 4, 2021Close138.844Apr 5, 2022Close126.594Sep 1, 2022Close119.625Feb 2, 2023Close117.719Jun 30, 2023Close113.188Nov 28, 2023Close110.406Apr 25, 2024Close107.688Sep 23, 2024Close113.438Feb 24, 2025Close109.125Jul 22, 2025Close110.188Dec 18, 2025Close110.406May 18, 2026Close107.219Sep 10, 2026Close105.094
The most recent 20 trading days of prices for 912810FM5.
DateBidOfferClose
Sep 10, 2026105.359105.188105.094
Sep 9, 2026105.734105.563105.563
Sep 8, 2026105.922105.750105.719
Sep 4, 2026106.000105.844105.750
Sep 3, 2026106.156106.000105.938
Sep 2, 2026105.953105.781105.813
Sep 1, 2026106.047105.875105.781
Aug 31, 2026106.141105.969105.969
Aug 28, 2026106.266106.063106.000
Aug 27, 2026106.609106.438106.313
Aug 26, 2026106.609106.438106.406
Aug 25, 2026106.672106.469106.531
Aug 24, 2026106.563106.375106.313
Aug 21, 2026106.469106.281106.281
Aug 20, 2026106.625106.438106.438
Aug 19, 2026106.703106.500106.563
Aug 18, 2026106.703106.531106.531
Aug 17, 2026106.734106.563106.500
Aug 14, 2026106.797106.625106.531
Aug 13, 2026106.875106.688106.688

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.

2 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 912810FM5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 10, 2000Feb 15, 2000New issue$10.0bn$11.3bn1.33x6.340%
Aug 10, 2000Aug 15, 2000Reopening$5.0bn$5.8bn3.71x5.697%

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.