Treasury bond

912810FT0 · 4.5% due February 15, 2036

Original term
30-Year
Maturity
Feb 15, 2036
Coupon
4.500%
Pays
Semi-Annual
Dated
Feb 15, 2006
First coupon
Aug 15, 2006
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$26.40bn
Held stripped
$2.03bn
Share stripped
7.70%

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
4.854%
Modified duration
7.550 yr
DV01
0.0737
Convexity
68.262
Dirty price
97.674

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 8 of twelve buckets, summing to 7.718 years against a modified duration of 7.550.

Against the fitted curve

Priced 8.7 bp rich to the curve on that day, 64.49 cents per 100 of face.

That is 0.58 standard deviations from its own typical residual.

Yield to maturity, 4,509 observations

0%1%2%3%4%5%Sep 2, 2008Sep 10, 2026Sep 2, 2008Yield to maturity4.374%Feb 2, 2009Yield to maturity3.584%Jun 30, 2009Yield to maturity4.315%Nov 27, 2009Yield to maturity4.180%Apr 27, 2010Yield to maturity4.506%Sep 21, 2010Yield to maturity3.698%Feb 18, 2011Yield to maturity4.632%Jul 19, 2011Yield to maturity4.078%Dec 15, 2011Yield to maturity2.777%May 14, 2012Yield to maturity2.733%Oct 10, 2012Yield to maturity2.636%Mar 13, 2013Yield to maturity2.989%Aug 8, 2013Yield to maturity3.457%Jan 8, 2014Yield to maturity3.710%Jun 6, 2014Yield to maturity3.223%Nov 4, 2014Yield to maturity2.801%Apr 7, 2015Yield to maturity2.269%Sep 1, 2015Yield to maturity2.636%Feb 2, 2016Yield to maturity2.274%Jun 29, 2016Yield to maturity1.817%Nov 28, 2016Yield to maturity2.623%Apr 27, 2017Yield to maturity2.599%Sep 22, 2017Yield to maturity2.478%Feb 22, 2018Yield to maturity3.041%Jul 20, 2018Yield to maturity2.930%Dec 19, 2018Yield to maturity2.818%May 20, 2019Yield to maturity2.559%Oct 16, 2019Yield to maturity1.912%Mar 17, 2020Yield to maturity1.237%Aug 12, 2020Yield to maturity0.857%Jan 12, 2021Yield to maturity1.359%Jun 9, 2021Yield to maturity1.724%Nov 4, 2021Yield to maturity1.542%Apr 5, 2022Yield to maturity2.450%Sep 1, 2022Yield to maturity3.213%Feb 2, 2023Yield to maturity3.339%Jun 30, 2023Yield to maturity3.715%Nov 28, 2023Yield to maturity4.337%Apr 25, 2024Yield to maturity4.593%Sep 23, 2024Yield to maturity3.684%Feb 24, 2025Yield to maturity4.341%Jul 22, 2025Yield to maturity4.321%Dec 18, 2025Yield to maturity4.057%May 18, 2026Yield to maturity4.531%Sep 10, 2026Yield to maturity4.854%

Price history

4,509 trading days to Sep 10, 2026

90100110120130140150160Sep 2, 2008Sep 10, 2026Sep 2, 2008Close102.000Feb 2, 2009Close115.781Jun 30, 2009Close102.906Nov 27, 2009Close105.063Apr 27, 2010Close99.906Sep 21, 2010Close113.125Feb 18, 2011Close98.063Jul 19, 2011Close106.500Dec 15, 2011Close130.188May 14, 2012Close130.719Oct 10, 2012Close132.344Mar 13, 2013Close124.938Aug 8, 2013Close116.219Jan 8, 2014Close111.844Jun 6, 2014Close119.813Nov 4, 2014Close127.094Apr 7, 2015Close136.906Sep 1, 2015Close129.313Feb 2, 2016Close135.656Jun 29, 2016Close144.125Nov 28, 2016Close128.188Apr 27, 2017Close128.125Sep 22, 2017Close129.719Feb 22, 2018Close120.094Jul 20, 2018Close121.438Dec 19, 2018Close122.750May 20, 2019Close126.281Oct 16, 2019Close136.156Mar 17, 2020Close147.000Aug 12, 2020Close152.781Jan 12, 2021Close142.719Jun 9, 2021Close135.875Nov 4, 2021Close137.781Apr 5, 2022Close123.969Sep 1, 2022Close113.969Feb 2, 2023Close112.188Jun 30, 2023Close107.844Nov 28, 2023Close101.531Apr 25, 2024Close99.156Sep 23, 2024Close107.531Feb 24, 2025Close101.375Jul 22, 2025Close101.500Dec 18, 2025Close103.656May 18, 2026Close99.750Sep 10, 2026Close97.344
The most recent 20 trading days of prices for 912810FT0.
DateBidOfferClose
Sep 10, 202697.71997.56397.344
Sep 9, 202698.28198.09498.188
Sep 8, 202698.68898.53198.469
Sep 4, 202698.81398.65698.563
Sep 3, 202699.00098.84498.688
Sep 2, 202698.62598.46998.469
Sep 1, 202698.84498.68898.469
Aug 31, 202698.89198.75098.813
Aug 28, 202699.32899.15698.969
Aug 27, 202699.68899.53199.406
Aug 26, 202699.70399.53199.469
Aug 25, 202699.76699.62599.688
Aug 24, 202699.46999.31399.156
Aug 21, 202699.10998.93898.938
Aug 20, 202699.37599.21999.250
Aug 19, 202699.67299.50099.594
Aug 18, 202699.26699.09499.188
Aug 17, 202699.34499.18899.063
Aug 14, 202699.53199.37599.344
Aug 13, 202699.81399.65699.625

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 912810FT0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 9, 2006Feb 15, 2006New issue$14.0bn$14.8bn2.05x4.530%
Aug 10, 2006Aug 15, 2006Reopening$10.0bn$11.6bn1.77x5.080%

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.