Treasury bond

912810QB7 · 4.25% due May 15, 2039

Original term
30-Year
Maturity
May 15, 2039
Coupon
4.250%
Pays
Semi-Annual
Dated
May 15, 2009
First coupon
Nov 15, 2009
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$38.78bn
Held stripped
$847.8m
Share stripped
2.19%

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
5.076%
Modified duration
9.416 yr
DV01
0.0882
Convexity
110.237
Dirty price
93.718

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 9.606 years against a modified duration of 9.416.

Against the fitted curve

Priced 5.4 bp rich to the curve on that day, 47.97 cents per 100 of face.

That is -1.23 standard deviations from its own typical residual.

Yield to maturity, 4,334 observations

0%1%2%3%4%5%6%May 15, 2009Sep 10, 2026May 15, 2009Yield to maturity4.086%Oct 6, 2009Yield to maturity4.065%Mar 3, 2010Yield to maturity4.583%Jul 21, 2010Yield to maturity3.889%Dec 13, 2010Yield to maturity4.387%May 5, 2011Yield to maturity4.256%Sep 26, 2011Yield to maturity2.958%Feb 21, 2012Yield to maturity3.102%Jul 11, 2012Yield to maturity2.483%Dec 4, 2012Yield to maturity2.624%Apr 29, 2013Yield to maturity2.736%Sep 18, 2013Yield to maturity3.646%Feb 12, 2014Yield to maturity3.623%Jul 7, 2014Yield to maturity3.325%Dec 1, 2014Yield to maturity2.838%Apr 23, 2015Yield to maturity2.557%Sep 14, 2015Yield to maturity2.833%Feb 8, 2016Yield to maturity2.369%Jun 29, 2016Yield to maturity2.057%Nov 21, 2016Yield to maturity2.851%Apr 17, 2017Yield to maturity2.777%Sep 6, 2017Yield to maturity2.547%Jan 30, 2018Yield to maturity2.885%Jun 21, 2018Yield to maturity2.979%Nov 13, 2018Yield to maturity3.285%Apr 9, 2019Yield to maturity2.731%Aug 29, 2019Yield to maturity1.777%Jan 24, 2020Yield to maturity1.966%Jun 16, 2020Yield to maturity1.180%Nov 5, 2020Yield to maturity1.156%Apr 1, 2021Yield to maturity2.081%Aug 20, 2021Yield to maturity1.586%Jan 13, 2022Yield to maturity1.948%Jun 7, 2022Yield to maturity3.153%Oct 28, 2022Yield to maturity4.268%Mar 24, 2023Yield to maturity3.546%Aug 15, 2023Yield to maturity4.327%Jan 8, 2024Yield to maturity4.139%May 29, 2024Yield to maturity4.695%Oct 21, 2024Yield to maturity4.361%Mar 17, 2025Yield to maturity4.472%Aug 6, 2025Yield to maturity4.498%Dec 30, 2025Yield to maturity4.409%May 21, 2026Yield to maturity4.778%Sep 10, 2026Yield to maturity5.076%

Price history

4,334 trading days to Sep 10, 2026

80100120140160180May 15, 2009Sep 10, 2026May 15, 2009Close102.813Oct 6, 2009Close103.156Mar 3, 2010Close94.656Jul 21, 2010Close106.219Dec 13, 2010Close97.781May 5, 2011Close99.906Sep 26, 2011Close124.281Feb 21, 2012Close121.000Jul 11, 2012Close134.469Dec 4, 2012Close130.875Apr 29, 2013Close128.063Sep 18, 2013Close110.000Feb 12, 2014Close110.313Jul 7, 2014Close115.563Dec 1, 2014Close124.781Apr 23, 2015Close130.281Sep 14, 2015Close124.313Feb 8, 2016Close133.500Jun 29, 2016Close139.844Nov 21, 2016Close123.094Apr 17, 2017Close124.188Sep 6, 2017Close128.250Jan 30, 2018Close121.594Jun 21, 2018Close119.656Nov 13, 2018Close114.313Apr 9, 2019Close123.375Aug 29, 2019Close140.969Jan 24, 2020Close136.531Jun 16, 2020Close151.906Nov 5, 2020Close151.469Apr 1, 2021Close132.594Aug 20, 2021Close141.031Jan 13, 2022Close133.719Jun 7, 2022Close114.313Oct 28, 2022Close99.781Mar 24, 2023Close108.594Aug 15, 2023Close99.125Jan 8, 2024Close101.250May 29, 2024Close95.250Oct 21, 2024Close98.813Mar 17, 2025Close97.688Aug 6, 2025Close97.469Dec 30, 2025Close98.406May 21, 2026Close94.938Sep 10, 2026Close92.344
The most recent 20 trading days of prices for 912810QB7.
DateBidOfferClose
Sep 10, 202692.76692.68892.344
Sep 9, 202693.34493.25093.438
Sep 8, 202693.84493.78193.688
Sep 4, 202693.93893.87593.813
Sep 3, 202694.09494.03193.875
Sep 2, 202693.65693.59493.625
Sep 1, 202693.93893.87593.625
Aug 31, 202693.90693.84493.938
Aug 28, 202694.50094.40694.188
Aug 27, 202694.78194.71994.563
Aug 26, 202694.76694.68894.656
Aug 25, 202694.85994.78194.875
Aug 24, 202694.48494.40694.281
Aug 21, 202694.04793.96993.906
Aug 20, 202694.26694.18894.344
Aug 19, 202694.64194.56394.719
Aug 18, 202693.93893.87593.969
Aug 17, 202694.04793.96993.750
Aug 14, 202694.23494.15694.156
Aug 13, 202694.65694.59494.594

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 912810QB7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 7, 2009May 15, 2009New issue$14.0bn$16.5bn2.14x4.288%
Jun 11, 2009Jun 15, 2009Reopening$11.0bn$11.1bn2.68x4.720%
Jul 9, 2009Jul 15, 2009Reopening$11.0bn$11.2bn2.36x4.303%

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.