Treasury bond

912810QU5 · 3.125% due February 15, 2042

Original term
30-Year
Maturity
Feb 15, 2042
Coupon
3.125%
Pays
Semi-Annual
Dated
Feb 15, 2012
First coupon
Aug 15, 2012
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$47.22bn
Held stripped
$824.3m
Share stripped
1.75%

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
5.295%
Modified duration
11.502 yr
DV01
0.0892
Convexity
162.583
Dirty price
77.542

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 11.740 years against a modified duration of 11.502.

Against the fitted curve

Priced 0.4 bp cheap to the curve on that day, 3.62 cents per 100 of face.

That is -1.72 standard deviations from its own typical residual.

Yield to maturity, 3,644 observations

1%2%3%4%5%6%Feb 15, 2012Sep 10, 2026Feb 15, 2012Yield to maturity3.094%Jun 13, 2012Yield to maturity2.693%Oct 11, 2012Yield to maturity2.826%Feb 13, 2013Yield to maturity3.195%Jun 13, 2013Yield to maturity3.313%Oct 10, 2013Yield to maturity3.753%Feb 12, 2014Yield to maturity3.719%Jun 12, 2014Yield to maturity3.371%Oct 10, 2014Yield to maturity2.997%Feb 13, 2015Yield to maturity2.604%Jun 12, 2015Yield to maturity3.090%Oct 9, 2015Yield to maturity2.888%Feb 11, 2016Yield to maturity2.388%Jun 10, 2016Yield to maturity2.337%Oct 7, 2016Yield to maturity2.396%Feb 9, 2017Yield to maturity2.982%Jun 9, 2017Yield to maturity2.809%Oct 6, 2017Yield to maturity2.844%Feb 7, 2018Yield to maturity3.084%Jun 7, 2018Yield to maturity3.056%Oct 4, 2018Yield to maturity3.340%Feb 7, 2019Yield to maturity2.948%Jun 7, 2019Yield to maturity2.491%Oct 4, 2019Yield to maturity1.925%Feb 6, 2020Yield to maturity2.036%Jun 5, 2020Yield to maturity1.520%Oct 2, 2020Yield to maturity1.250%Feb 4, 2021Yield to maturity1.715%Jun 3, 2021Yield to maturity2.196%Sep 30, 2021Yield to maturity1.971%Feb 1, 2022Yield to maturity2.164%Jun 1, 2022Yield to maturity3.327%Sep 29, 2022Yield to maturity4.033%Feb 1, 2023Yield to maturity3.669%May 31, 2023Yield to maturity4.009%Sep 28, 2023Yield to maturity4.936%Jan 30, 2024Yield to maturity4.393%May 28, 2024Yield to maturity4.761%Sep 25, 2024Yield to maturity4.107%Jan 28, 2025Yield to maturity4.824%May 27, 2025Yield to maturity4.937%Sep 24, 2025Yield to maturity4.645%Jan 27, 2026Yield to maturity4.698%May 26, 2026Yield to maturity4.940%Sep 10, 2026Yield to maturity5.295%

Price history

3,644 trading days to Sep 10, 2026

6080100120140160Feb 15, 2012Sep 10, 2026Feb 15, 2012Close100.594Jun 13, 2012Close108.781Oct 11, 2012Close105.938Feb 13, 2013Close98.688Jun 13, 2013Close96.531Oct 10, 2013Close89.094Feb 12, 2014Close89.719Jun 12, 2014Close95.594Oct 10, 2014Close102.375Feb 13, 2015Close110.063Jun 12, 2015Close100.625Oct 9, 2015Close104.344Feb 11, 2016Close114.219Jun 10, 2016Close115.156Oct 7, 2016Close113.781Feb 9, 2017Close102.500Jun 9, 2017Close105.594Oct 6, 2017Close104.906Feb 7, 2018Close100.688Jun 7, 2018Close101.156Oct 4, 2018Close96.531Feb 7, 2019Close102.938Jun 7, 2019Close110.938Oct 4, 2019Close121.719Feb 6, 2020Close119.250Jun 5, 2020Close129.563Oct 2, 2020Close135.063Feb 4, 2021Close124.813Jun 3, 2021Close115.375Sep 30, 2021Close119.281Feb 1, 2022Close115.563Jun 1, 2022Close97.094Sep 29, 2022Close87.875Feb 1, 2023Close92.594May 31, 2023Close88.438Sep 28, 2023Close78.281Jan 30, 2024Close84.313May 28, 2024Close80.563Sep 25, 2024Close87.875Jan 28, 2025Close80.406May 27, 2025Close79.531Sep 24, 2025Close82.688Jan 27, 2026Close82.406May 26, 2026Close80.313Sep 10, 2026Close77.313
The most recent 20 trading days of prices for 912810QU5.
DateBidOfferClose
Sep 10, 202677.75077.68877.313
Sep 9, 202678.18878.12578.375
Sep 8, 202678.75078.68878.563
Sep 4, 202678.79778.75078.656
Sep 3, 202678.90678.84478.688
Sep 2, 202678.45378.40678.406
Sep 1, 202678.73478.68878.438
Aug 31, 202678.65678.59478.719
Aug 28, 202679.28179.21978.969
Aug 27, 202679.46979.40679.281
Aug 26, 202679.43879.37579.375
Aug 25, 202679.50079.43879.531
Aug 24, 202679.15679.09478.969
Aug 21, 202678.65678.59478.531
Aug 20, 202678.84478.78178.969
Aug 19, 202679.20379.15679.281
Aug 18, 202678.35978.31378.406
Aug 17, 202678.42278.34478.156
Aug 14, 202678.62578.56378.594
Aug 13, 202679.07879.03179.063

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 912810QU5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 9, 2012Feb 15, 2012New issue$16.0bn$18.0bn2.47x3.240%
Mar 14, 2012Mar 15, 2012Reopening$13.0bn$13.9bn2.70x3.383%
Apr 12, 2012Apr 16, 2012Reopening$13.0bn$15.4bn2.76x3.230%

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.