Treasury bond

912810QZ4 · 3.125% due February 15, 2043

Original term
30-Year
Maturity
Feb 15, 2043
Coupon
3.125%
Pays
Semi-Annual
Dated
Feb 15, 2013
First coupon
Aug 15, 2013
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$42.00bn
Held stripped
$4.48bn
Share stripped
10.66%

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
5.354%
Modified duration
11.991 yr
DV01
0.0912
Convexity
178.674
Dirty price
76.073

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 12.233 years against a modified duration of 11.991.

Against the fitted curve

Priced 2.1 bp cheap to the curve on that day, 19.35 cents per 100 of face.

That is -1.12 standard deviations from its own typical residual.

Yield to maturity, 3,393 observations

1%2%3%4%5%6%Feb 15, 2013Sep 10, 2026Feb 15, 2013Yield to maturity3.180%Jun 10, 2013Yield to maturity3.354%Sep 30, 2013Yield to maturity3.715%Jan 24, 2014Yield to maturity3.659%May 16, 2014Yield to maturity3.332%Sep 8, 2014Yield to maturity3.223%Jan 5, 2015Yield to maturity2.593%Apr 27, 2015Yield to maturity2.609%Aug 17, 2015Yield to maturity2.817%Dec 9, 2015Yield to maturity2.949%Apr 4, 2016Yield to maturity2.547%Jul 25, 2016Yield to maturity2.222%Nov 15, 2016Yield to maturity2.936%Mar 10, 2017Yield to maturity3.175%Jun 30, 2017Yield to maturity2.815%Oct 23, 2017Yield to maturity2.848%Feb 14, 2018Yield to maturity3.161%Jun 7, 2018Yield to maturity3.067%Sep 27, 2018Yield to maturity3.188%Jan 24, 2019Yield to maturity3.018%May 16, 2019Yield to maturity2.796%Sep 6, 2019Yield to maturity1.964%Dec 31, 2019Yield to maturity2.367%Apr 23, 2020Yield to maturity1.142%Aug 13, 2020Yield to maturity1.291%Dec 7, 2020Yield to maturity1.509%Mar 31, 2021Yield to maturity2.320%Jul 21, 2021Yield to maturity1.872%Nov 10, 2021Yield to maturity1.958%Mar 7, 2022Yield to maturity2.335%Jun 28, 2022Yield to maturity3.609%Oct 19, 2022Yield to maturity4.470%Feb 13, 2023Yield to maturity3.958%Jun 5, 2023Yield to maturity4.062%Sep 26, 2023Yield to maturity4.921%Jan 19, 2024Yield to maturity4.516%May 9, 2024Yield to maturity4.729%Aug 30, 2024Yield to maturity4.312%Dec 24, 2024Yield to maturity4.883%Apr 17, 2025Yield to maturity4.850%Aug 8, 2025Yield to maturity4.824%Dec 2, 2025Yield to maturity4.687%Mar 26, 2026Yield to maturity4.939%Jul 17, 2026Yield to maturity5.030%Sep 10, 2026Yield to maturity5.354%

Price history

3,393 trading days to Sep 10, 2026

6080100120140160Feb 15, 2013Sep 10, 2026Feb 15, 2013Close98.938Jun 10, 2013Close95.719Sep 30, 2013Close89.500Jan 24, 2014Close90.500May 16, 2014Close96.188Sep 8, 2014Close98.188Jan 5, 2015Close110.563Apr 27, 2015Close110.156Aug 17, 2015Close105.875Dec 9, 2015Close103.281Apr 4, 2016Close111.188Jul 25, 2016Close118.031Nov 15, 2016Close103.438Mar 10, 2017Close99.125Jun 30, 2017Close105.625Oct 23, 2017Close104.969Feb 14, 2018Close99.375Jun 7, 2018Close101.000Sep 27, 2018Close98.938Jan 24, 2019Close101.813May 16, 2019Close105.688Sep 6, 2019Close121.719Dec 31, 2019Close113.438Apr 23, 2020Close139.719Aug 13, 2020Close135.719Dec 7, 2020Close130.375Mar 31, 2021Close113.750Jul 21, 2021Close122.156Nov 10, 2021Close120.219Mar 7, 2022Close113.031Jun 28, 2022Close93.000Oct 19, 2022Close82.156Feb 13, 2023Close88.563Jun 5, 2023Close87.375Sep 26, 2023Close77.719Jan 19, 2024Close82.344May 9, 2024Close80.188Aug 30, 2024Close85.000Dec 24, 2024Close79.000Apr 17, 2025Close79.563Aug 8, 2025Close80.063Dec 2, 2025Close81.688Mar 26, 2026Close79.375Jul 17, 2026Close78.750Sep 10, 2026Close75.844
The most recent 20 trading days of prices for 912810QZ4.
DateBidOfferClose
Sep 10, 202676.25076.18875.844
Sep 9, 202676.71976.65676.906
Sep 8, 202677.29777.25077.094
Sep 4, 202677.32877.28177.188
Sep 3, 202677.42277.37577.219
Sep 2, 202676.98476.93876.969
Sep 1, 202677.26677.21976.938
Aug 31, 202677.17277.12577.250
Aug 28, 202677.84477.78177.531
Aug 27, 202678.01677.96977.781
Aug 26, 202677.96977.90677.906
Aug 25, 202678.04778.00078.063
Aug 24, 202677.65677.59477.500
Aug 21, 202677.20377.15677.063
Aug 20, 202677.35977.31377.469
Aug 19, 202677.73477.68877.813
Aug 18, 202676.79776.75076.875
Aug 17, 202676.90676.84476.625
Aug 14, 202677.07877.03177.063
Aug 13, 202677.57877.53177.563

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 912810QZ4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 14, 2013Feb 15, 2013New issue$16.0bn$16.0bn2.74x3.180%
Mar 14, 2013Mar 15, 2013Reopening$13.0bn$13.0bn2.43x3.248%
Apr 11, 2013Apr 15, 2013Reopening$13.0bn$13.0bn2.49x2.998%

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.