Treasury bond

912810RP5 · 3% due November 15, 2045

Original term
30-Year
Maturity
Nov 15, 2045
Coupon
3.000%
Pays
Semi-Annual
Dated
Nov 15, 2015
First coupon
May 15, 2016
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$41.79bn
Held stripped
$2.45bn
Share stripped
5.87%

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
5.431%
Modified duration
13.185 yr
DV01
0.0952
Convexity
224.155
Dirty price
72.220

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 13.411 years against a modified duration of 13.185.

Against the fitted curve

Priced 1.3 bp cheap to the curve on that day, 12.79 cents per 100 of face.

That is -0.47 standard deviations from its own typical residual.

Yield to maturity, 2,707 observations

1%2%3%4%5%6%Nov 16, 2015Sep 10, 2026Nov 16, 2015Yield to maturity3.066%Feb 17, 2016Yield to maturity2.668%May 16, 2016Yield to maturity2.589%Aug 12, 2016Yield to maturity2.226%Nov 10, 2016Yield to maturity2.942%Feb 13, 2017Yield to maturity3.044%May 12, 2017Yield to maturity2.993%Aug 10, 2017Yield to maturity2.779%Nov 8, 2017Yield to maturity2.776%Feb 8, 2018Yield to maturity3.130%May 9, 2018Yield to maturity3.154%Aug 7, 2018Yield to maturity3.123%Nov 5, 2018Yield to maturity3.435%Feb 7, 2019Yield to maturity2.979%May 8, 2019Yield to maturity2.873%Aug 6, 2019Yield to maturity2.228%Nov 4, 2019Yield to maturity2.256%Feb 5, 2020Yield to maturity2.144%May 5, 2020Yield to maturity1.302%Aug 3, 2020Yield to maturity1.186%Oct 30, 2020Yield to maturity1.547%Feb 2, 2021Yield to maturity1.775%Apr 30, 2021Yield to maturity2.259%Jul 29, 2021Yield to maturity1.883%Oct 27, 2021Yield to maturity1.938%Jan 27, 2022Yield to maturity2.158%Apr 27, 2022Yield to maturity3.107%Jul 27, 2022Yield to maturity3.317%Oct 25, 2022Yield to maturity4.543%Jan 26, 2023Yield to maturity3.797%Apr 25, 2023Yield to maturity3.826%Jul 25, 2023Yield to maturity4.184%Oct 23, 2023Yield to maturity5.255%Jan 23, 2024Yield to maturity4.538%Apr 19, 2024Yield to maturity4.869%Jul 19, 2024Yield to maturity4.603%Oct 17, 2024Yield to maturity4.502%Jan 17, 2025Yield to maturity4.961%Apr 17, 2025Yield to maturity4.913%Jul 17, 2025Yield to maturity5.078%Oct 15, 2025Yield to maturity4.660%Jan 15, 2026Yield to maturity4.792%Apr 15, 2026Yield to maturity4.918%Jul 15, 2026Yield to maturity5.122%Sep 10, 2026Yield to maturity5.431%

Price history

2,707 trading days to Sep 10, 2026

6080100120140160Nov 16, 2015Sep 10, 2026Nov 16, 2015Close98.719Feb 17, 2016Close106.781May 16, 2016Close108.438Aug 12, 2016Close116.563Nov 10, 2016Close101.125Feb 13, 2017Close99.156May 12, 2017Close100.125Aug 10, 2017Close104.313Nov 8, 2017Close104.344Feb 8, 2018Close97.594May 9, 2018Close97.188Aug 7, 2018Close97.750Nov 5, 2018Close92.375Feb 7, 2019Close100.375May 8, 2019Close102.344Aug 6, 2019Close115.281Nov 4, 2019Close114.594Feb 5, 2020Close116.875May 5, 2020Close136.781Aug 3, 2020Close139.531Oct 30, 2020Close130.063Feb 2, 2021Close124.469Apr 30, 2021Close113.906Jul 29, 2021Close121.688Oct 27, 2021Close120.344Jan 27, 2022Close115.594Apr 27, 2022Close98.219Jul 27, 2022Close94.875Oct 25, 2022Close78.094Jan 26, 2023Close87.906Apr 25, 2023Close87.594Jul 25, 2023Close82.938Oct 23, 2023Close70.750Jan 23, 2024Close78.844Apr 19, 2024Close75.219Jul 19, 2024Close78.375Oct 17, 2024Close79.688Jan 17, 2025Close74.719Apr 17, 2025Close75.406Jul 17, 2025Close73.844Oct 15, 2025Close78.500Jan 15, 2026Close77.219Apr 15, 2026Close76.063Jul 15, 2026Close74.156Sep 10, 2026Close71.250
The most recent 20 trading days of prices for 912810RP5.
DateBidOfferClose
Sep 10, 202671.64171.59471.250
Sep 9, 202672.10972.06372.313
Sep 8, 202672.68872.65672.500
Sep 4, 202672.70372.65672.625
Sep 3, 202672.79772.75072.594
Sep 2, 202672.35972.31372.344
Sep 1, 202672.62572.59472.344
Aug 31, 202672.51672.46972.594
Aug 28, 202673.23473.18872.906
Aug 27, 202673.32873.28173.156
Aug 26, 202673.31373.28173.250
Aug 25, 202673.39173.34473.406
Aug 24, 202673.01672.96972.844
Aug 21, 202672.53172.50072.406
Aug 20, 202672.68872.65672.844
Aug 19, 202673.04773.00073.188
Aug 18, 202672.06372.03172.188
Aug 17, 202672.17272.12571.906
Aug 14, 202672.37572.34472.406
Aug 13, 202672.89172.84472.875

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 912810RP5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 12, 2015Nov 16, 2015New issue$16.0bn$16.1bn2.41x3.070%
Dec 10, 2015Dec 15, 2015Reopening$13.0bn$13.0bn2.42x2.978%
Jan 14, 2016Jan 15, 2016Reopening$13.0bn$13.0bn2.29x2.905%

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.