Treasury bond

912810QW1 · 3% due May 15, 2042

Original term
30-Year
Maturity
May 15, 2042
Coupon
3.000%
Pays
Semi-Annual
Dated
May 15, 2012
First coupon
Nov 15, 2012
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$43.92bn
Held stripped
$1.07bn
Share stripped
2.43%

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
5.313%
Modified duration
11.597 yr
DV01
0.0888
Convexity
166.649
Dirty price
76.564

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 11.833 years against a modified duration of 11.597.

Against the fitted curve

Priced 1.1 bp cheap to the curve on that day, 9.33 cents per 100 of face.

That is -1.22 standard deviations from its own typical residual.

Yield to maturity, 3,581 observations

1%2%3%4%5%6%May 15, 2012Sep 10, 2026May 15, 2012Yield to maturity2.914%Sep 11, 2012Yield to maturity2.817%Jan 11, 2013Yield to maturity3.024%May 10, 2013Yield to maturity3.072%Sep 6, 2013Yield to maturity3.882%Jan 7, 2014Yield to maturity3.891%May 6, 2014Yield to maturity3.360%Sep 2, 2014Yield to maturity3.146%Jan 5, 2015Yield to maturity2.579%May 1, 2015Yield to maturity2.811%Aug 27, 2015Yield to maturity2.919%Dec 28, 2015Yield to maturity2.899%Apr 26, 2016Yield to maturity2.687%Aug 22, 2016Yield to maturity2.166%Dec 20, 2016Yield to maturity3.140%Apr 20, 2017Yield to maturity2.866%Aug 16, 2017Yield to maturity2.755%Dec 13, 2017Yield to maturity2.696%Apr 13, 2018Yield to maturity2.991%Aug 9, 2018Yield to maturity3.061%Dec 10, 2018Yield to maturity3.106%Apr 9, 2019Yield to maturity2.859%Aug 6, 2019Yield to maturity2.169%Dec 4, 2019Yield to maturity2.188%Apr 2, 2020Yield to maturity1.163%Jul 30, 2020Yield to maturity1.040%Nov 27, 2020Yield to maturity1.364%Mar 29, 2021Yield to maturity2.312%Jul 23, 2021Yield to maturity1.844%Nov 19, 2021Yield to maturity1.927%Mar 21, 2022Yield to maturity2.685%Jul 19, 2022Yield to maturity3.442%Nov 15, 2022Yield to maturity4.246%Mar 16, 2023Yield to maturity3.887%Jul 13, 2023Yield to maturity4.084%Nov 8, 2023Yield to maturity4.841%Mar 8, 2024Yield to maturity4.392%Jul 5, 2024Yield to maturity4.574%Oct 31, 2024Yield to maturity4.559%Mar 4, 2025Yield to maturity4.546%Jun 30, 2025Yield to maturity4.747%Oct 27, 2025Yield to maturity4.488%Feb 26, 2026Yield to maturity4.520%Jun 24, 2026Yield to maturity4.796%Sep 10, 2026Yield to maturity5.313%

Price history

3,581 trading days to Sep 10, 2026

708090100110120130140May 15, 2012Sep 10, 2026May 15, 2012Close101.719Sep 11, 2012Close103.656Jan 11, 2013Close99.531May 10, 2013Close98.625Sep 6, 2013Close84.813Jan 7, 2014Close84.781May 6, 2014Close93.500Sep 2, 2014Close97.313Jan 5, 2015Close108.219May 1, 2015Close103.563Aug 27, 2015Close101.500Dec 28, 2015Close101.844Apr 26, 2016Close105.844Aug 22, 2016Close116.375Dec 20, 2016Close97.563Apr 20, 2017Close102.375Aug 16, 2017Close104.375Dec 13, 2017Close105.406Apr 13, 2018Close100.156Aug 9, 2018Close98.969Dec 10, 2018Close98.250Apr 9, 2019Close102.375Aug 6, 2019Close114.875Dec 4, 2019Close114.344Apr 2, 2020Close135.719Jul 30, 2020Close138.125Nov 27, 2020Close130.344Mar 29, 2021Close111.438Jul 23, 2021Close119.906Nov 19, 2021Close118.094Mar 21, 2022Close104.875Jul 19, 2022Close93.688Nov 15, 2022Close83.594Mar 16, 2023Close88.094Jul 13, 2023Close85.844Nov 8, 2023Close77.656Mar 8, 2024Close82.688Jul 5, 2024Close80.938Oct 31, 2024Close81.313Mar 4, 2025Close81.688Jun 30, 2025Close79.875Oct 27, 2025Close82.750Feb 26, 2026Close82.656Jun 24, 2026Close80.188Sep 10, 2026Close75.594
The most recent 20 trading days of prices for 912810QW1.
DateBidOfferClose
Sep 10, 202676.01675.93875.594
Sep 9, 202676.46976.40676.625
Sep 8, 202677.01676.96976.844
Sep 4, 202677.06377.00076.938
Sep 3, 202677.15677.09476.938
Sep 2, 202676.71976.65676.719
Sep 1, 202677.00076.93876.688
Aug 31, 202676.90676.84476.969
Aug 28, 202677.54777.46977.219
Aug 27, 202677.73477.68877.500
Aug 26, 202677.68877.62577.625
Aug 25, 202677.75077.68877.781
Aug 24, 202677.37577.31377.188
Aug 21, 202676.90676.84476.781
Aug 20, 202677.09477.03177.188
Aug 19, 202677.43877.37577.531
Aug 18, 202676.57876.53176.656
Aug 17, 202676.67276.62576.406
Aug 14, 202676.84476.78176.813
Aug 13, 202677.31377.25077.281

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 912810QW1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 10, 2012May 15, 2012New issue$16.0bn$17.0bn2.73x3.090%
Jun 14, 2012Jun 15, 2012Reopening$13.0bn$13.9bn2.40x2.720%
Jul 12, 2012Jul 16, 2012Reopening$13.0bn$13.0bn2.70x2.580%

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.