Treasury bond

912810QT8 · 3.125% due November 15, 2041

Original term
30-Year
Maturity
Nov 15, 2041
Coupon
3.125%
Pays
Semi-Annual
Dated
Nov 15, 2011
First coupon
May 15, 2012
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$44.62bn
Held stripped
$520.0m
Share stripped
1.17%

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
5.276%
Modified duration
11.264 yr
DV01
0.0887
Convexity
157.033
Dirty price
78.729

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 10 of twelve buckets, summing to 11.495 years against a modified duration of 11.264.

Against the fitted curve

Priced 0.2 bp rich to the curve on that day, 2.21 cents per 100 of face.

That is -1.67 standard deviations from its own typical residual.

Yield to maturity, 3,706 observations

0%1%2%3%4%5%6%Nov 15, 2011Sep 10, 2026Nov 15, 2011Yield to maturity3.101%Mar 20, 2012Yield to maturity3.455%Jul 19, 2012Yield to maturity2.600%Nov 21, 2012Yield to maturity2.787%Mar 27, 2013Yield to maturity3.070%Jul 29, 2013Yield to maturity3.629%Nov 29, 2013Yield to maturity3.806%Apr 3, 2014Yield to maturity3.604%Aug 5, 2014Yield to maturity3.238%Dec 10, 2014Yield to maturity2.790%Apr 14, 2015Yield to maturity2.503%Aug 13, 2015Yield to maturity2.810%Dec 16, 2015Yield to maturity2.936%Apr 20, 2016Yield to maturity2.572%Aug 19, 2016Yield to maturity2.197%Dec 22, 2016Yield to maturity3.109%Apr 27, 2017Yield to maturity2.922%Aug 28, 2017Yield to maturity2.687%Dec 29, 2017Yield to maturity2.693%May 3, 2018Yield to maturity3.082%Sep 4, 2018Yield to maturity3.049%Jan 9, 2019Yield to maturity2.994%May 13, 2019Yield to maturity2.752%Sep 12, 2019Yield to maturity2.171%Jan 16, 2020Yield to maturity2.203%May 19, 2020Yield to maturity1.279%Sep 18, 2020Yield to maturity1.233%Jan 25, 2021Yield to maturity1.581%May 25, 2021Yield to maturity2.137%Sep 24, 2021Yield to maturity1.884%Jan 28, 2022Yield to maturity2.121%Jun 1, 2022Yield to maturity3.316%Oct 3, 2022Yield to maturity4.039%Feb 7, 2023Yield to maturity3.862%Jun 8, 2023Yield to maturity4.045%Oct 11, 2023Yield to maturity4.935%Feb 13, 2024Yield to maturity4.599%Jun 13, 2024Yield to maturity4.470%Oct 16, 2024Yield to maturity4.281%Feb 20, 2025Yield to maturity4.751%Jun 23, 2025Yield to maturity4.808%Oct 23, 2025Yield to maturity4.456%Feb 27, 2026Yield to maturity4.445%Jun 30, 2026Yield to maturity4.812%Sep 10, 2026Yield to maturity5.276%

Price history

3,706 trading days to Sep 10, 2026

6080100120140160Nov 15, 2011Sep 10, 2026Nov 15, 2011Close100.469Mar 20, 2012Close93.906Jul 19, 2012Close110.719Nov 21, 2012Close106.688Mar 27, 2013Close101.031Jul 29, 2013Close91.125Nov 29, 2013Close88.344Apr 3, 2014Close91.656Aug 5, 2014Close97.969Dec 10, 2014Close106.313Apr 14, 2015Close112.031Aug 13, 2015Close105.813Dec 16, 2015Close103.406Apr 20, 2016Close110.313Aug 19, 2016Close117.906Dec 22, 2016Close100.281Apr 27, 2017Close103.531Aug 28, 2017Close107.750Dec 29, 2017Close107.563May 3, 2018Close100.719Sep 4, 2018Close101.250Jan 9, 2019Close102.156May 13, 2019Close106.219Sep 12, 2019Close116.719Jan 16, 2020Close115.906May 19, 2020Close134.594Sep 18, 2020Close135.125Jan 25, 2021Close127.281May 25, 2021Close116.313Sep 24, 2021Close120.719Jan 28, 2022Close116.156Jun 1, 2022Close97.281Oct 3, 2022Close87.906Feb 7, 2023Close90.219Jun 8, 2023Close88.125Oct 11, 2023Close78.500Feb 13, 2024Close82.250Jun 13, 2024Close83.844Oct 16, 2024Close86.094Feb 20, 2025Close81.375Jun 23, 2025Close81.063Oct 23, 2025Close84.844Feb 27, 2026Close85.188Jun 30, 2026Close81.813Sep 10, 2026Close77.719
The most recent 20 trading days of prices for 912810QT8.
DateBidOfferClose
Sep 10, 202678.15678.09477.719
Sep 9, 202678.62578.56378.781
Sep 8, 202679.17279.12579.000
Sep 4, 202679.21979.15679.125
Sep 3, 202679.32879.28179.125
Sep 2, 202678.89178.84478.875
Sep 1, 202679.17279.12578.844
Aug 31, 202679.09479.03179.156
Aug 28, 202679.71979.65679.406
Aug 27, 202679.89179.84479.719
Aug 26, 202679.87579.81379.781
Aug 25, 202679.92279.87579.938
Aug 24, 202679.54779.50079.375
Aug 21, 202679.07879.03178.969
Aug 20, 202679.25079.18879.375
Aug 19, 202679.60979.56379.719
Aug 18, 202678.76678.71978.813
Aug 17, 202678.87578.81378.594
Aug 14, 202679.04779.00079.000
Aug 13, 202679.48479.43879.469

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 912810QT8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 10, 2011Nov 15, 2011New issue$16.0bn$17.2bn2.40x3.199%
Dec 14, 2011Dec 15, 2011Reopening$13.0bn$13.5bn3.05x2.925%
Jan 12, 2012Jan 17, 2012Reopening$13.0bn$13.9bn2.60x2.985%

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.