Treasury bond

912810RK6 · 2.5% due February 15, 2045

Original term
30-Year
Maturity
Feb 15, 2045
Coupon
2.500%
Pays
Semi-Annual
Dated
Feb 15, 2015
First coupon
Aug 15, 2015
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$42.00bn
Held stripped
$3.40bn
Share stripped
8.09%

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
5.436%
Modified duration
13.456 yr
DV01
0.0892
Convexity
224.647
Dirty price
66.277

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 13.716 years against a modified duration of 13.456.

Against the fitted curve

Priced 2.1 bp cheap to the curve on that day, 18.35 cents per 100 of face.

That is -0.03 standard deviations from its own typical residual.

Yield to maturity, 2,896 observations

1%2%3%4%5%6%Feb 17, 2015Sep 10, 2026Feb 17, 2015Yield to maturity2.731%May 20, 2015Yield to maturity3.079%Aug 24, 2015Yield to maturity2.749%Nov 30, 2015Yield to maturity3.007%Mar 7, 2016Yield to maturity2.714%Jun 9, 2016Yield to maturity2.479%Sep 13, 2016Yield to maturity2.468%Dec 19, 2016Yield to maturity3.145%Mar 27, 2017Yield to maturity3.007%Jun 29, 2017Yield to maturity2.827%Oct 3, 2017Yield to maturity2.864%Jan 9, 2018Yield to maturity2.882%Apr 16, 2018Yield to maturity3.028%Jul 19, 2018Yield to maturity2.964%Oct 23, 2018Yield to maturity3.373%Jan 31, 2019Yield to maturity2.993%May 7, 2019Yield to maturity2.847%Aug 9, 2019Yield to maturity2.227%Nov 14, 2019Yield to maturity2.306%Feb 21, 2020Yield to maturity1.915%May 27, 2020Yield to maturity1.398%Aug 28, 2020Yield to maturity1.466%Dec 4, 2020Yield to maturity1.631%Mar 12, 2021Yield to maturity2.371%Jun 15, 2021Yield to maturity2.181%Sep 17, 2021Yield to maturity1.890%Dec 23, 2021Yield to maturity1.959%Mar 30, 2022Yield to maturity2.667%Jul 6, 2022Yield to maturity3.478%Oct 7, 2022Yield to maturity4.214%Jan 17, 2023Yield to maturity3.858%Apr 20, 2023Yield to maturity3.936%Jul 26, 2023Yield to maturity4.170%Oct 30, 2023Yield to maturity5.265%Feb 5, 2024Yield to maturity4.513%May 8, 2024Yield to maturity4.770%Aug 13, 2024Yield to maturity4.301%Nov 18, 2024Yield to maturity4.766%Feb 25, 2025Yield to maturity4.663%May 29, 2025Yield to maturity5.033%Sep 3, 2025Yield to maturity4.925%Dec 9, 2025Yield to maturity4.840%Mar 17, 2026Yield to maturity4.871%Jun 18, 2026Yield to maturity4.958%Sep 10, 2026Yield to maturity5.436%

Price history

2,896 trading days to Sep 10, 2026

6080100120140Feb 17, 2015Sep 10, 2026Feb 17, 2015Close95.281May 20, 2015Close88.781Aug 24, 2015Close95.000Nov 30, 2015Close90.188Mar 7, 2016Close95.719Jun 9, 2016Close100.438Sep 13, 2016Close100.656Dec 19, 2016Close88.000Mar 27, 2017Close90.469Jun 29, 2017Close93.750Oct 3, 2017Close93.125Jan 9, 2018Close92.844Apr 16, 2018Close90.344Jul 19, 2018Close91.500Oct 23, 2018Close84.844Jan 31, 2019Close91.125May 7, 2019Close93.688Aug 9, 2019Close105.281Nov 14, 2019Close103.688Feb 21, 2020Close111.563May 27, 2020Close122.969Aug 28, 2020Close121.188Dec 4, 2020Close117.313Mar 12, 2021Close102.344Jun 15, 2021Close105.875Sep 17, 2021Close111.500Dec 23, 2021Close110.031Mar 30, 2022Close97.156Jul 6, 2022Close84.781Oct 7, 2022Close75.344Jan 17, 2023Close79.938Apr 20, 2023Close79.094Jul 26, 2023Close76.406Oct 30, 2023Close64.844Feb 5, 2024Close72.844May 8, 2024Close70.281Aug 13, 2024Close75.625Nov 18, 2024Close70.781Feb 25, 2025Close72.094May 29, 2025Close68.563Sep 3, 2025Close69.875Dec 9, 2025Close70.969Mar 17, 2026Close70.906Jun 18, 2026Close70.313Sep 10, 2026Close66.094
The most recent 20 trading days of prices for 912810RK6.
DateBidOfferClose
Sep 10, 202666.51666.46966.094
Sep 9, 202666.92266.87567.125
Sep 8, 202667.50067.46967.313
Sep 4, 202667.51667.46967.438
Sep 3, 202667.59467.56367.406
Sep 2, 202667.17267.12567.156
Sep 1, 202667.46967.43867.156
Aug 31, 202667.32867.28167.406
Aug 28, 202668.01667.96967.688
Aug 27, 202668.09468.06367.938
Aug 26, 202668.09468.06368.031
Aug 25, 202668.18868.15668.219
Aug 24, 202667.84467.81367.688
Aug 21, 202667.35967.31367.250
Aug 20, 202667.51667.46967.656
Aug 19, 202667.87567.84468.000
Aug 18, 202666.90666.87567.000
Aug 17, 202667.00066.96966.750
Aug 14, 202667.18867.15667.219
Aug 13, 202667.67267.62567.656

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 912810RK6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 12, 2015Feb 17, 2015New issue$16.0bn$16.0bn2.26x2.560%
Mar 12, 2015Mar 16, 2015Reopening$13.0bn$13.0bn2.18x2.681%
Apr 9, 2015Apr 15, 2015Reopening$13.0bn$13.0bn2.18x2.597%

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.