Treasury bond

912810QS0 · 3.75% due August 15, 2041

Original term
30-Year
Maturity
Aug 15, 2041
Coupon
3.750%
Pays
Semi-Annual
Dated
Aug 15, 2011
First coupon
Feb 15, 2012
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$42.49bn
Held stripped
$485.7m
Share stripped
1.14%

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
5.241%
Modified duration
10.895 yr
DV01
0.0926
Convexity
147.768
Dirty price
84.963

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 11.111 years against a modified duration of 10.895.

Against the fitted curve

Priced 1.3 bp rich to the curve on that day, 12.41 cents per 100 of face.

That is -2.10 standard deviations from its own typical residual.

Yield to maturity, 3,769 observations

0%1%2%3%4%5%6%Aug 15, 2011Sep 10, 2026Aug 15, 2011Yield to maturity3.753%Dec 19, 2011Yield to maturity2.765%Apr 23, 2012Yield to maturity3.053%Aug 23, 2012Yield to maturity2.724%Dec 31, 2012Yield to maturity2.869%May 6, 2013Yield to maturity2.921%Sep 6, 2013Yield to maturity3.838%Jan 13, 2014Yield to maturity3.726%May 16, 2014Yield to maturity3.271%Sep 19, 2014Yield to maturity3.223%Jan 28, 2015Yield to maturity2.221%Jun 1, 2015Yield to maturity2.906%Oct 1, 2015Yield to maturity2.772%Feb 8, 2016Yield to maturity2.450%Jun 10, 2016Yield to maturity2.313%Oct 13, 2016Yield to maturity2.394%Feb 17, 2017Yield to maturity2.990%Jun 22, 2017Yield to maturity2.648%Oct 25, 2017Yield to maturity2.862%Mar 1, 2018Yield to maturity3.042%Jul 3, 2018Yield to maturity2.937%Nov 5, 2018Yield to maturity3.407%Mar 14, 2019Yield to maturity2.964%Jul 17, 2019Yield to maturity2.455%Nov 19, 2019Yield to maturity2.194%Mar 25, 2020Yield to maturity1.312%Jul 28, 2020Yield to maturity1.022%Dec 1, 2020Yield to maturity1.405%Apr 6, 2021Yield to maturity2.172%Aug 6, 2021Yield to maturity1.794%Dec 10, 2021Yield to maturity1.856%Apr 14, 2022Yield to maturity3.095%Aug 18, 2022Yield to maturity3.306%Dec 22, 2022Yield to maturity3.904%Apr 27, 2023Yield to maturity3.826%Aug 30, 2023Yield to maturity4.375%Jan 4, 2024Yield to maturity4.245%May 7, 2024Yield to maturity4.657%Sep 10, 2024Yield to maturity3.915%Jan 15, 2025Yield to maturity4.923%May 19, 2025Yield to maturity4.885%Sep 22, 2025Yield to maturity4.593%Jan 28, 2026Yield to maturity4.664%Jun 1, 2026Yield to maturity4.841%Sep 10, 2026Yield to maturity5.241%

Price history

3,769 trading days to Sep 10, 2026

80100120140160Aug 15, 2011Sep 10, 2026Aug 15, 2011Close99.938Dec 19, 2011Close119.844Apr 23, 2012Close113.438Aug 23, 2012Close120.469Dec 31, 2012Close117.125May 6, 2013Close115.875Sep 6, 2013Close98.500Jan 13, 2014Close100.406May 16, 2014Close108.594Sep 19, 2014Close109.438Jan 28, 2015Close130.531Jun 1, 2015Close115.406Oct 1, 2015Close117.969Feb 8, 2016Close124.563Jun 10, 2016Close127.313Oct 13, 2016Close125.281Feb 17, 2017Close113.125Jun 22, 2017Close119.563Oct 25, 2017Close115.250Mar 1, 2018Close111.813Jul 3, 2018Close113.563Nov 5, 2018Close105.406Mar 14, 2019Close112.813Jul 17, 2019Close121.969Nov 19, 2019Close126.781Mar 25, 2020Close145.344Jul 28, 2020Close151.531Dec 1, 2020Close142.000Apr 6, 2021Close125.844Aug 6, 2021Close132.781Dec 10, 2021Close131.094Apr 14, 2022Close109.469Aug 18, 2022Close106.219Dec 22, 2022Close97.969Apr 27, 2023Close99.000Aug 30, 2023Close92.281Jan 4, 2024Close93.906May 7, 2024Close89.313Sep 10, 2024Close97.969Jan 15, 2025Close86.813May 19, 2025Close87.375Sep 22, 2025Close90.563Jan 28, 2026Close89.969Jun 1, 2026Close88.344Sep 10, 2026Close84.688
The most recent 20 trading days of prices for 912810QS0.
DateBidOfferClose
Sep 10, 202685.09485.03184.688
Sep 9, 202685.59485.53185.750
Sep 8, 202686.15686.09486.000
Sep 4, 202686.21986.15686.094
Sep 3, 202686.32886.28186.125
Sep 2, 202685.85985.81385.875
Sep 1, 202686.15686.09485.844
Aug 31, 202686.10986.06386.156
Aug 28, 202686.75086.68886.438
Aug 27, 202686.95386.90686.750
Aug 26, 202686.95386.90686.844
Aug 25, 202687.01686.96987.031
Aug 24, 202686.62586.56386.438
Aug 21, 202686.14186.09486.000
Aug 20, 202686.32886.28186.469
Aug 19, 202686.71986.65686.813
Aug 18, 202685.85985.81385.938
Aug 17, 202685.95385.90685.688
Aug 14, 202686.14186.09486.094
Aug 13, 202686.59486.53186.594

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 912810QS0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 11, 2011Aug 15, 2011New issue$16.0bn$16.5bn2.08x3.750%
Sep 14, 2011Sep 15, 2011Reopening$13.0bn$13.0bn2.85x3.310%
Oct 13, 2011Oct 17, 2011Reopening$13.0bn$13.0bn2.94x3.120%

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.