Treasury bond

912810QA9 · 3.5% due February 15, 2039

Original term
30-Year
Maturity
Feb 15, 2039
Coupon
3.500%
Pays
Semi-Annual
Dated
Feb 15, 2009
First coupon
Aug 15, 2009
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$25.91bn
Held stripped
$75.6m
Share stripped
0.29%

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
5.032%
Modified duration
9.695 yr
DV01
0.0836
Convexity
113.093
Dirty price
86.226

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 9 of twelve buckets, summing to 9.895 years against a modified duration of 9.695.

Against the fitted curve

Priced 9.6 bp rich to the curve on that day, 80.36 cents per 100 of face.

That is -0.61 standard deviations from its own typical residual.

Yield to maturity, 4,396 observations

0%1%2%3%4%5%6%Feb 17, 2009Sep 10, 2026Feb 17, 2009Yield to maturity3.475%Jul 10, 2009Yield to maturity4.189%Dec 3, 2009Yield to maturity4.345%Apr 28, 2010Yield to maturity4.634%Sep 17, 2010Yield to maturity3.902%Feb 11, 2011Yield to maturity4.727%Jul 7, 2011Yield to maturity4.379%Nov 30, 2011Yield to maturity3.021%Apr 24, 2012Yield to maturity3.047%Sep 14, 2012Yield to maturity2.957%Feb 12, 2013Yield to maturity3.064%Jul 8, 2013Yield to maturity3.543%Nov 29, 2013Yield to maturity3.729%Apr 25, 2014Yield to maturity3.362%Sep 18, 2014Yield to maturity3.277%Feb 17, 2015Yield to maturity2.664%Jul 9, 2015Yield to maturity3.025%Dec 2, 2015Yield to maturity2.759%Apr 27, 2016Yield to maturity2.499%Sep 19, 2016Yield to maturity2.253%Feb 14, 2017Yield to maturity2.936%Jul 10, 2017Yield to maturity2.786%Nov 30, 2017Yield to maturity2.699%Apr 26, 2018Yield to maturity3.094%Sep 18, 2018Yield to maturity3.141%Feb 14, 2019Yield to maturity2.857%Jul 10, 2019Yield to maturity2.354%Dec 3, 2019Yield to maturity2.007%Apr 28, 2020Yield to maturity0.929%Sep 18, 2020Yield to maturity1.082%Feb 16, 2021Yield to maturity1.738%Jul 8, 2021Yield to maturity1.668%Dec 1, 2021Yield to maturity1.658%Apr 26, 2022Yield to maturity2.891%Sep 19, 2022Yield to maturity3.596%Feb 14, 2023Yield to maturity3.818%Jul 10, 2023Yield to maturity4.061%Nov 30, 2023Yield to maturity4.587%Apr 24, 2024Yield to maturity4.721%Sep 17, 2024Yield to maturity3.757%Feb 12, 2025Yield to maturity4.724%Jul 8, 2025Yield to maturity4.647%Dec 1, 2025Yield to maturity4.330%Apr 24, 2026Yield to maturity4.486%Sep 10, 2026Yield to maturity5.032%

Price history

4,396 trading days to Sep 10, 2026

6080100120140160Feb 17, 2009Sep 10, 2026Feb 17, 2009Close100.469Jul 10, 2009Close88.375Dec 3, 2009Close86.094Apr 28, 2010Close82.063Sep 17, 2010Close93.125Feb 11, 2011Close81.063Jul 7, 2011Close86.000Nov 30, 2011Close108.844Apr 24, 2012Close108.250Sep 14, 2012Close109.906Feb 12, 2013Close107.781Jul 8, 2013Close99.281Nov 29, 2013Close96.281Apr 25, 2014Close102.313Sep 18, 2014Close103.719Feb 17, 2015Close114.750Jul 9, 2015Close107.969Dec 2, 2015Close112.625Apr 27, 2016Close117.313Sep 19, 2016Close121.844Feb 14, 2017Close109.094Jul 10, 2017Close111.531Nov 30, 2017Close112.875Apr 26, 2018Close106.188Sep 18, 2018Close105.375Feb 14, 2019Close109.750Jul 10, 2019Close117.906Dec 3, 2019Close123.688Apr 28, 2020Close144.250Sep 18, 2020Close140.250Feb 16, 2021Close127.125Jul 8, 2021Close127.844Dec 1, 2021Close127.469Apr 26, 2022Close108.063Sep 19, 2022Close98.813Feb 14, 2023Close96.219Jul 10, 2023Close93.563Nov 30, 2023Close88.188Apr 24, 2024Close87.094Sep 17, 2024Close97.156Feb 12, 2025Close87.563Jul 8, 2025Close88.531Dec 1, 2025Close91.719Apr 24, 2026Close90.469Sep 10, 2026Close85.969
The most recent 20 trading days of prices for 912810QA9.
DateBidOfferClose
Sep 10, 202686.37586.28185.969
Sep 9, 202686.92286.84487.000
Sep 8, 202687.39187.31387.219
Sep 4, 202687.48487.40687.344
Sep 3, 202687.64187.56387.406
Sep 2, 202687.20387.12587.188
Sep 1, 202687.48487.40687.156
Aug 31, 202687.45387.37587.469
Aug 28, 202688.01687.93887.688
Aug 27, 202688.29788.21988.063
Aug 26, 202688.28188.18888.156
Aug 25, 202688.34488.25088.344
Aug 24, 202688.00087.90687.781
Aug 21, 202687.57887.50087.438
Aug 20, 202687.79787.71987.813
Aug 19, 202688.15688.06388.188
Aug 18, 202687.48487.40687.531
Aug 17, 202687.57887.50087.313
Aug 14, 202687.76687.68887.688
Aug 13, 202688.15688.09488.094

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 912810QA9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 12, 2009Feb 17, 2009New issue$14.0bn$14.7bn2.02x3.540%
Mar 12, 2009Mar 16, 2009Reopening$11.0bn$11.2bn2.40x3.640%

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.