Treasury bond

912810PX0 · 4.5% due May 15, 2038

Original term
29-Year 9-Month
Maturity
May 15, 2038
Coupon
4.500%
Pays
Semi-Annual
Dated
May 15, 2008
First coupon
Nov 15, 2008
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$25.50bn
Held stripped
$517.1m
Share stripped
2.03%

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, November 9, 2026

Yield to maturity
4.861%
Modified duration
8.653 yr
DV01
0.0857
Convexity
0.931
Dirty price
99.033

Where its rate sensitivity sits

0.01
0.04
0.08
0.20
0.36
0.59
5.45
2.09
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 8.823 years against a modified duration of 8.653.

Against the fitted curve

Priced 10.2 bp rich to the curve on that day, 87.45 cents per 100 of face.

That is -0.52 standard deviations from its own typical residual.

Yield to maturity, 4,547 observations

0%1%2%3%4%5%6%Sep 2, 2008Nov 9, 2026Sep 2, 2008Yield to maturity4.356%Sep 29, 2008Yield to maturity4.184%Oct 27, 2008Yield to maturity4.116%Nov 24, 2008Yield to maturity3.781%Dec 22, 2008Yield to maturity2.605%Jan 21, 2009Yield to maturity3.149%Feb 18, 2009Yield to maturity3.550%Mar 17, 2009Yield to maturity3.844%Apr 14, 2009Yield to maturity3.643%May 11, 2009Yield to maturity4.180%Jun 8, 2009Yield to maturity4.646%Jul 6, 2009Yield to maturity4.332%Jul 31, 2009Yield to maturity4.307%Aug 27, 2009Yield to maturity4.220%Sep 24, 2009Yield to maturity4.169%Oct 22, 2009Yield to maturity4.242%Nov 19, 2009Yield to maturity4.282%Dec 17, 2009Yield to maturity4.416%Jan 15, 2010Yield to maturity4.563%Feb 12, 2010Yield to maturity4.631%Mar 12, 2010Yield to maturity4.597%Apr 8, 2010Yield to maturity4.728%May 5, 2010Yield to maturity4.366%Jun 2, 2010Yield to maturity4.226%Jun 29, 2010Yield to maturity3.922%Jul 27, 2010Yield to maturity4.069%Aug 23, 2010Yield to maturity3.602%Sep 20, 2010Yield to maturity3.817%Oct 18, 2010Yield to maturity3.878%Nov 15, 2010Yield to maturity4.322%Dec 13, 2010Yield to maturity4.347%Jan 10, 2011Yield to maturity4.434%Feb 7, 2011Yield to maturity4.671%Mar 7, 2011Yield to maturity4.585%Apr 1, 2011Yield to maturity4.458%Apr 29, 2011Yield to maturity4.371%May 26, 2011Yield to maturity4.177%Jun 23, 2011Yield to maturity4.108%Jul 21, 2011Yield to maturity4.246%Aug 17, 2011Yield to maturity3.473%Sep 14, 2011Yield to maturity3.231%Oct 12, 2011Yield to maturity3.141%Nov 8, 2011Yield to maturity3.058%Dec 7, 2011Yield to maturity2.946%Jan 5, 2012Yield to maturity2.958%Feb 2, 2012Yield to maturity2.884%Mar 1, 2012Yield to maturity3.028%Mar 28, 2012Yield to maturity3.189%Apr 24, 2012Yield to maturity2.986%May 21, 2012Yield to maturity2.658%Jun 18, 2012Yield to maturity2.523%Jul 16, 2012Yield to maturity2.405%Aug 10, 2012Yield to maturity2.574%Sep 7, 2012Yield to maturity2.636%Oct 4, 2012Yield to maturity2.708%Nov 2, 2012Yield to maturity2.728%Dec 3, 2012Yield to maturity2.608%Dec 31, 2012Yield to maturity2.757%Jan 29, 2013Yield to maturity2.987%Feb 26, 2013Yield to maturity2.900%Mar 25, 2013Yield to maturity2.973%Apr 22, 2013Yield to maturity2.709%May 17, 2013Yield to maturity2.984%Jun 14, 2013Yield to maturity3.134%Jul 12, 2013Yield to maturity3.491%Aug 8, 2013Yield to maturity3.515%Sep 5, 2013Yield to maturity3.765%Oct 2, 2013Yield to maturity3.573%Oct 30, 2013Yield to maturity3.493%Nov 27, 2013Yield to maturity3.665%Dec 26, 2013Yield to maturity3.789%Jan 24, 2014Yield to maturity3.510%Feb 21, 2014Yield to maturity3.555%Mar 20, 2014Yield to maturity3.531%Apr 16, 2014Yield to maturity3.321%May 14, 2014Yield to maturity3.219%Jun 11, 2014Yield to maturity3.323%Jul 9, 2014Yield to maturity3.228%Aug 5, 2014Yield to maturity3.142%Sep 2, 2014Yield to maturity3.037%Sep 30, 2014Yield to maturity3.086%Oct 28, 2014Yield to maturity2.922%Nov 26, 2014Yield to maturity2.809%Dec 24, 2014Yield to maturity2.668%Jan 23, 2015Yield to maturity2.257%Feb 20, 2015Yield to maturity2.618%Mar 19, 2015Yield to maturity2.440%Apr 15, 2015Yield to maturity2.433%May 12, 2015Yield to maturity2.902%Jun 9, 2015Yield to maturity3.042%Jul 7, 2015Yield to maturity2.900%Aug 3, 2015Yield to maturity2.697%Aug 28, 2015Yield to maturity2.747%Sep 25, 2015Yield to maturity2.759%Oct 23, 2015Yield to maturity2.672%Nov 20, 2015Yield to maturity2.803%Dec 18, 2015Yield to maturity2.658%Jan 19, 2016Yield to maturity2.570%Feb 16, 2016Yield to maturity2.318%Mar 14, 2016Yield to maturity2.448%Apr 11, 2016Yield to maturity2.262%May 6, 2016Yield to maturity2.306%Jun 3, 2016Yield to maturity2.198%Jun 30, 2016Yield to maturity1.955%Jul 28, 2016Yield to maturity1.914%Aug 24, 2016Yield to maturity1.957%Sep 21, 2016Yield to maturity2.130%Oct 19, 2016Yield to maturity2.253%Nov 16, 2016Yield to maturity2.681%Dec 14, 2016Yield to maturity2.928%Jan 12, 2017Yield to maturity2.745%Feb 9, 2017Yield to maturity2.790%Mar 9, 2017Yield to maturity2.988%Apr 5, 2017Yield to maturity2.760%May 3, 2017Yield to maturity2.748%May 31, 2017Yield to maturity2.632%Jun 27, 2017Yield to maturity2.559%Jul 25, 2017Yield to maturity2.712%Aug 21, 2017Yield to maturity2.555%Sep 18, 2017Yield to maturity2.586%Oct 16, 2017Yield to maturity2.604%Nov 10, 2017Yield to maturity2.691%Dec 8, 2017Yield to maturity2.600%Jan 8, 2018Yield to maturity2.661%Feb 5, 2018Yield to maturity2.924%Mar 5, 2018Yield to maturity3.038%Apr 2, 2018Yield to maturity2.843%Apr 27, 2018Yield to maturity3.029%May 24, 2018Yield to maturity3.054%Jun 21, 2018Yield to maturity2.962%Jul 19, 2018Yield to maturity2.890%Aug 15, 2018Yield to maturity2.941%Sep 12, 2018Yield to maturity3.034%Oct 10, 2018Yield to maturity3.315%Nov 6, 2018Yield to maturity3.330%Dec 6, 2018Yield to maturity2.987%Jan 4, 2019Yield to maturity2.801%Feb 1, 2019Yield to maturity2.840%Mar 1, 2019Yield to maturity2.927%Mar 28, 2019Yield to maturity2.578%Apr 25, 2019Yield to maturity2.723%May 22, 2019Yield to maturity2.593%Jun 19, 2019Yield to maturity2.270%Jul 17, 2019Yield to maturity2.298%Aug 13, 2019Yield to maturity1.881%Sep 10, 2019Yield to maturity1.939%Oct 7, 2019Yield to maturity1.790%Nov 4, 2019Yield to maturity2.031%Dec 3, 2019Yield to maturity1.959%Dec 31, 2019Yield to maturity2.171%Jan 29, 2020Yield to maturity1.823%Feb 26, 2020Yield to maturity1.564%Mar 24, 2020Yield to maturity1.091%Apr 21, 2020Yield to maturity0.882%May 18, 2020Yield to maturity1.040%Jun 15, 2020Yield to maturity1.030%Jul 13, 2020Yield to maturity0.915%Aug 7, 2020Yield to maturity0.823%Sep 3, 2020Yield to maturity0.931%Oct 1, 2020Yield to maturity1.002%Oct 29, 2020Yield to maturity1.166%Nov 27, 2020Yield to maturity1.140%Dec 24, 2020Yield to maturity1.252%Jan 25, 2021Yield to maturity1.393%Feb 22, 2021Yield to maturity1.784%Mar 19, 2021Yield to maturity2.151%Apr 15, 2021Yield to maturity1.921%May 12, 2021Yield to maturity2.084%Jun 9, 2021Yield to maturity1.865%Jul 7, 2021Yield to maturity1.633%Aug 3, 2021Yield to maturity1.502%Aug 30, 2021Yield to maturity1.565%Sep 27, 2021Yield to maturity1.714%Oct 25, 2021Yield to maturity1.851%Nov 22, 2021Yield to maturity1.770%Dec 20, 2021Yield to maturity1.616%Jan 18, 2022Yield to maturity2.057%Feb 14, 2022Yield to maturity2.172%Mar 14, 2022Yield to maturity2.245%Apr 8, 2022Yield to maturity2.787%May 6, 2022Yield to maturity3.216%Jun 3, 2022Yield to maturity3.051%Jul 1, 2022Yield to maturity2.976%Jul 29, 2022Yield to maturity2.748%Aug 25, 2022Yield to maturity3.121%Sep 22, 2022Yield to maturity3.710%Oct 20, 2022Yield to maturity4.273%Nov 17, 2022Yield to maturity3.881%Dec 15, 2022Yield to maturity3.448%Jan 13, 2023Yield to maturity3.572%Feb 10, 2023Yield to maturity3.790%Mar 10, 2023Yield to maturity3.703%Apr 6, 2023Yield to maturity3.390%May 3, 2023Yield to maturity3.491%May 31, 2023Yield to maturity3.747%Jun 28, 2023Yield to maturity3.746%Jul 26, 2023Yield to maturity3.882%Aug 22, 2023Yield to maturity4.409%Sep 19, 2023Yield to maturity4.412%Oct 17, 2023Yield to maturity4.974%Nov 13, 2023Yield to maturity4.762%Dec 11, 2023Yield to maturity4.329%Jan 9, 2024Yield to maturity4.076%Feb 6, 2024Yield to maturity4.160%Mar 5, 2024Yield to maturity4.173%Apr 2, 2024Yield to maturity4.395%Apr 29, 2024Yield to maturity4.656%May 24, 2024Yield to maturity4.473%Jun 24, 2024Yield to maturity4.262%Jul 22, 2024Yield to maturity4.330%Aug 16, 2024Yield to maturity3.962%Sep 13, 2024Yield to maturity3.738%Oct 10, 2024Yield to maturity4.184%Nov 7, 2024Yield to maturity4.410%Dec 6, 2024Yield to maturity4.217%Jan 6, 2025Yield to maturity4.709%Feb 3, 2025Yield to maturity4.607%Mar 3, 2025Yield to maturity4.235%Mar 28, 2025Yield to maturity4.361%Apr 25, 2025Yield to maturity4.430%May 22, 2025Yield to maturity4.717%Jun 20, 2025Yield to maturity4.525%Jul 18, 2025Yield to maturity4.600%Aug 14, 2025Yield to maturity4.425%Sep 11, 2025Yield to maturity4.157%Oct 8, 2025Yield to maturity4.270%Nov 5, 2025Yield to maturity4.292%Dec 4, 2025Yield to maturity4.258%Jan 2, 2026Yield to maturity4.312%Jan 30, 2026Yield to maturity4.360%Feb 27, 2026Yield to maturity4.083%Mar 26, 2026Yield to maturity4.516%Apr 22, 2026Yield to maturity4.395%May 19, 2026Yield to maturity4.748%Jun 16, 2026Yield to maturity4.486%Jul 15, 2026Yield to maturity4.610%Aug 11, 2026Yield to maturity4.762%Sep 8, 2026Yield to maturity4.824%Oct 5, 2026Yield to maturity5.319%Nov 2, 2026Yield to maturity4.897%Nov 9, 2026Yield to maturity4.861%

Price history

4,547 trading days to Nov 9, 2026

80100120140160180Sep 2, 2008Nov 9, 2026Sep 2, 2008Close102.375Sep 29, 2008Close105.328Oct 27, 2008Close106.531Nov 24, 2008Close112.719Dec 22, 2008Close138.750Jan 21, 2009Close125.719Feb 18, 2009Close117.188Mar 17, 2009Close111.438Apr 14, 2009Close115.281May 11, 2009Close105.344Jun 8, 2009Close97.688Jul 6, 2009Close102.750Jul 31, 2009Close103.156Aug 27, 2009Close104.625Sep 24, 2009Close105.500Oct 22, 2009Close104.250Nov 19, 2009Close103.563Dec 17, 2009Close101.344Jan 15, 2010Close99.000Feb 12, 2010Close97.938Mar 12, 2010Close98.469Apr 8, 2010Close96.469May 5, 2010Close102.156Jun 2, 2010Close104.469Jun 29, 2010Close109.750Jul 27, 2010Close107.125Aug 23, 2010Close115.656Sep 20, 2010Close111.594Oct 18, 2010Close110.469Nov 15, 2010Close102.844Dec 13, 2010Close102.438Jan 10, 2011Close101.031Feb 7, 2011Close97.375Mar 7, 2011Close98.688Apr 1, 2011Close100.656Apr 29, 2011Close102.031May 26, 2011Close105.188Jun 23, 2011Close106.344Jul 21, 2011Close104.031Aug 17, 2011Close117.781Sep 14, 2011Close122.563Oct 12, 2011Close124.375Nov 8, 2011Close126.063Dec 7, 2011Close128.406Jan 5, 2012Close128.094Feb 2, 2012Close129.625Mar 1, 2012Close126.500Mar 28, 2012Close123.125Apr 24, 2012Close127.281May 21, 2012Close134.406Jun 18, 2012Close137.438Jul 16, 2012Close140.125Aug 10, 2012Close136.094Sep 7, 2012Close134.625Oct 4, 2012Close132.938Nov 2, 2012Close132.438Dec 3, 2012Close135.031Dec 31, 2012Close131.656Jan 29, 2013Close126.719Feb 26, 2013Close128.469Mar 25, 2013Close126.906Apr 22, 2013Close132.438May 17, 2013Close126.563Jun 14, 2013Close123.500Jul 12, 2013Close116.656Aug 8, 2013Close116.188Sep 5, 2013Close111.750Oct 2, 2013Close115.094Oct 30, 2013Close116.500Nov 27, 2013Close113.406Dec 26, 2013Close111.250Jan 24, 2014Close116.094Feb 21, 2014Close115.250Mar 20, 2014Close115.656Apr 16, 2014Close119.438May 14, 2014Close121.313Jun 11, 2014Close119.313Jul 9, 2014Close121.031Aug 5, 2014Close122.625Sep 2, 2014Close124.594Sep 30, 2014Close123.594Oct 28, 2014Close126.719Nov 26, 2014Close128.906Dec 24, 2014Close131.719Jan 23, 2015Close140.469Feb 20, 2015Close132.594Mar 19, 2015Close136.281Apr 15, 2015Close136.344May 12, 2015Close126.688Jun 9, 2015Close123.938Jul 7, 2015Close126.594Aug 3, 2015Close130.531Aug 28, 2015Close129.469Sep 25, 2015Close129.156Oct 23, 2015Close130.813Nov 20, 2015Close128.156Dec 18, 2015Close130.938Jan 19, 2016Close132.625Feb 16, 2016Close137.750Mar 14, 2016Close134.938Apr 11, 2016Close138.750May 6, 2016Close137.719Jun 3, 2016Close139.906Jun 30, 2016Close145.125Jul 28, 2016Close145.906Aug 24, 2016Close144.813Sep 21, 2016Close140.938Oct 19, 2016Close138.219Nov 16, 2016Close129.563Dec 14, 2016Close124.875Jan 12, 2017Close128.188Feb 9, 2017Close127.281Mar 9, 2017Close123.594Apr 5, 2017Close127.688May 3, 2017Close127.844May 31, 2017Close129.938Jun 27, 2017Close131.250Jul 25, 2017Close128.281Aug 21, 2017Close131.156Sep 18, 2017Close130.469Oct 16, 2017Close130.063Nov 10, 2017Close128.375Dec 8, 2017Close129.969Jan 8, 2018Close128.750Feb 5, 2018Close123.969Mar 5, 2018Close121.938Apr 2, 2018Close125.250Apr 27, 2018Close121.969May 24, 2018Close121.500Jun 21, 2018Close123.000Jul 19, 2018Close124.156Aug 15, 2018Close123.219Sep 12, 2018Close121.594Oct 10, 2018Close116.969Nov 6, 2018Close116.688Dec 6, 2018Close122.188Jan 4, 2019Close125.250Feb 1, 2019Close124.500Mar 1, 2019Close122.969Mar 28, 2019Close128.875Apr 25, 2019Close126.281May 22, 2019Close128.438Jun 19, 2019Close134.125Jul 17, 2019Close133.500Aug 13, 2019Close141.219Sep 10, 2019Close139.969Oct 7, 2019Close142.719Nov 4, 2019Close137.969Dec 3, 2019Close139.188Dec 31, 2019Close135.125Jan 29, 2020Close141.469Feb 26, 2020Close146.375Mar 24, 2020Close155.969Apr 21, 2020Close160.281May 18, 2020Close156.625Jun 15, 2020Close156.625Jul 13, 2020Close158.875Aug 7, 2020Close160.656Sep 3, 2020Close158.094Oct 1, 2020Close156.375Oct 29, 2020Close152.750Nov 27, 2020Close153.063Dec 24, 2020Close150.594Jan 25, 2021Close147.625Feb 22, 2021Close140.125Mar 19, 2021Close133.531Apr 15, 2021Close137.406May 12, 2021Close134.438Jun 9, 2021Close138.094Jul 7, 2021Close142.094Aug 3, 2021Close144.313Aug 30, 2021Close143.000Sep 27, 2021Close140.156Oct 25, 2021Close137.625Nov 22, 2021Close138.875Dec 20, 2021Close141.406Jan 18, 2022Close133.719Feb 14, 2022Close131.719Mar 14, 2022Close130.438Apr 8, 2022Close122.094May 6, 2022Close115.969Jun 3, 2022Close118.188Jul 1, 2022Close119.156Jul 29, 2022Close122.313Aug 25, 2022Close117.031Sep 22, 2022Close109.313Oct 20, 2022Close102.563Nov 17, 2022Close107.156Dec 15, 2022Close112.500Jan 13, 2023Close110.875Feb 10, 2023Close108.156Mar 10, 2023Close109.188Apr 6, 2023Close113.031May 3, 2023Close111.719May 31, 2023Close108.563Jun 28, 2023Close108.531Jul 26, 2023Close106.906Aug 22, 2023Close100.969Sep 19, 2023Close100.938Oct 17, 2023Close95.125Nov 13, 2023Close97.281Dec 11, 2023Close101.813Jan 9, 2024Close104.563Feb 6, 2024Close103.625Mar 5, 2024Close103.469Apr 2, 2024Close101.094Apr 29, 2024Close98.406May 24, 2024Close100.281Jun 24, 2024Close102.469Jul 22, 2024Close101.750Aug 16, 2024Close105.656Sep 13, 2024Close108.094Oct 10, 2024Close103.250Nov 7, 2024Close100.906Dec 6, 2024Close102.875Jan 6, 2025Close97.938Feb 3, 2025Close98.938Mar 3, 2025Close102.656Mar 28, 2025Close101.375Apr 25, 2025Close100.688May 22, 2025Close97.906Jun 20, 2025Close99.750Jul 18, 2025Close99.031Aug 14, 2025Close100.719Sep 11, 2025Close103.344Oct 8, 2025Close102.219Nov 5, 2025Close102.000Dec 4, 2025Close102.313Jan 2, 2026Close101.781Jan 30, 2026Close101.313Feb 27, 2026Close103.969Mar 26, 2026Close99.844Apr 22, 2026Close100.969May 19, 2026Close97.750Jun 16, 2026Close100.125Jul 15, 2026Close99.000Aug 11, 2026Close97.656Sep 8, 2026Close97.125Oct 5, 2026Close92.969Nov 2, 2026Close96.531Nov 9, 2026Close96.844
The most recent 20 trading days of prices for 912810PX0.
DateBidOfferClose
Nov 9, 202696.84496.96996.844
Nov 6, 202696.96997.07896.969
Nov 5, 202697.06397.20397.156
Nov 4, 202696.50096.59496.719
Nov 3, 202696.28196.42296.219
Nov 2, 202696.78196.89196.531
Oct 30, 202696.18896.31396.344
Oct 29, 202695.96996.10995.938
Oct 28, 202695.62595.73495.375
Oct 27, 202695.87595.98495.906
Oct 26, 202695.87595.98495.813
Oct 23, 202695.81395.92295.781
Oct 22, 202695.62595.75096.094
Oct 21, 202694.87594.98494.719
Oct 20, 202694.81394.92294.781
Oct 19, 202694.59494.70394.438
Oct 16, 202695.00095.12594.938
Oct 15, 202694.81394.95394.813
Oct 14, 202693.59493.70394.063
Oct 13, 202693.81393.92293.844

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

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 912810PX0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 7, 2008Aug 15, 2008New issue$10.0bn$13.7bn2.40x4.609%
Nov 13, 2008Nov 17, 2008Reopening$10.0bn$11.8bn2.07x4.310%

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.