Treasury bond

912810RT7 · 2.25% due August 15, 2046

Original term
30-Year
Maturity
Aug 15, 2046
Coupon
2.250%
Pays
Semi-Annual
Dated
Aug 15, 2016
First coupon
Feb 15, 2017
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$39.65bn
Held stripped
$3.88bn
Share stripped
9.79%

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
5.459%
Modified duration
14.424 yr
DV01
0.0887
Convexity
259.294
Dirty price
61.478

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 14.680 years against a modified duration of 14.424.

Against the fitted curve

Priced 0.3 bp cheap to the curve on that day, 2.83 cents per 100 of face.

That is -0.29 standard deviations from its own typical residual.

Yield to maturity, 2,520 observations

1%2%3%4%5%6%Aug 15, 2016Sep 10, 2026Aug 15, 2016Yield to maturity2.273%Nov 7, 2016Yield to maturity2.600%Feb 2, 2017Yield to maturity3.108%Apr 27, 2017Yield to maturity2.988%Jul 20, 2017Yield to maturity2.849%Oct 12, 2017Yield to maturity2.862%Jan 5, 2018Yield to maturity2.814%Apr 2, 2018Yield to maturity2.976%Jun 22, 2018Yield to maturity3.044%Sep 14, 2018Yield to maturity3.133%Dec 11, 2018Yield to maturity3.144%Mar 7, 2019Yield to maturity3.036%May 30, 2019Yield to maturity2.652%Aug 21, 2019Yield to maturity2.075%Nov 14, 2019Yield to maturity2.314%Feb 10, 2020Yield to maturity2.045%May 4, 2020Yield to maturity1.291%Jul 27, 2020Yield to maturity1.234%Oct 19, 2020Yield to maturity1.490%Jan 13, 2021Yield to maturity1.745%Apr 7, 2021Yield to maturity2.344%Jun 29, 2021Yield to maturity2.105%Sep 21, 2021Yield to maturity1.852%Dec 15, 2021Yield to maturity1.916%Mar 10, 2022Yield to maturity2.506%Jun 2, 2022Yield to maturity3.344%Aug 25, 2022Yield to maturity3.569%Nov 18, 2022Yield to maturity4.232%Feb 14, 2023Yield to maturity3.960%May 8, 2023Yield to maturity3.985%Aug 1, 2023Yield to maturity4.324%Oct 24, 2023Yield to maturity5.198%Jan 18, 2024Yield to maturity4.562%Apr 10, 2024Yield to maturity4.782%Jul 3, 2024Yield to maturity4.688%Sep 25, 2024Yield to maturity4.261%Dec 19, 2024Yield to maturity4.909%Mar 17, 2025Yield to maturity4.732%Jun 6, 2025Yield to maturity5.097%Aug 29, 2025Yield to maturity4.976%Nov 24, 2025Yield to maturity4.733%Feb 19, 2026Yield to maturity4.746%May 12, 2026Yield to maturity5.108%Aug 5, 2026Yield to maturity5.257%Sep 10, 2026Yield to maturity5.459%

Price history

2,520 trading days to Sep 10, 2026

406080100120140Aug 15, 2016Sep 10, 2026Aug 15, 2016Close99.500Nov 7, 2016Close92.781Feb 2, 2017Close83.500Apr 27, 2017Close85.656Jul 20, 2017Close88.219Oct 12, 2017Close88.031Jan 5, 2018Close88.969Apr 2, 2018Close86.156Jun 22, 2018Close85.063Sep 14, 2018Close83.656Dec 11, 2018Close83.563Mar 7, 2019Close85.438May 30, 2019Close92.250Aug 21, 2019Close103.594Nov 14, 2019Close98.719Feb 10, 2020Close104.188May 4, 2020Close121.313Jul 27, 2020Close122.563Oct 19, 2020Close116.250Jan 13, 2021Close110.375Apr 7, 2021Close98.219Jun 29, 2021Close102.813Sep 21, 2021Close107.906Dec 15, 2021Close106.531Mar 10, 2022Close95.344Jun 2, 2022Close81.938Aug 25, 2022Close78.875Nov 18, 2022Close70.500Feb 14, 2023Close74.000May 8, 2023Close73.844Aug 1, 2023Close69.938Oct 24, 2023Close60.875Jan 18, 2024Close67.625Apr 10, 2024Close65.469Jul 3, 2024Close66.656Sep 25, 2024Close71.563Dec 19, 2024Close64.781Mar 17, 2025Close66.813Jun 6, 2025Close63.375Aug 29, 2025Close64.781Nov 24, 2025Close67.438Feb 19, 2026Close67.531May 12, 2026Close64.188Aug 5, 2026Close63.031Sep 10, 2026Close61.313
The most recent 20 trading days of prices for 912810RT7.
DateBidOfferClose
Sep 10, 202661.68861.65661.313
Sep 9, 202662.12562.09462.281
Sep 8, 202662.62562.59462.500
Sep 4, 202662.64162.59462.594
Sep 3, 202662.75062.71962.563
Sep 2, 202662.32862.28162.344
Sep 1, 202662.59462.56362.313
Aug 31, 202662.46962.43862.563
Aug 28, 202663.14163.09462.813
Aug 27, 202663.21963.18863.063
Aug 26, 202663.18863.15663.156
Aug 25, 202663.28163.25063.281
Aug 24, 202662.90662.87562.750
Aug 21, 202662.46962.43862.344
Aug 20, 202662.59462.56362.750
Aug 19, 202662.93862.90663.063
Aug 18, 202662.00061.96962.094
Aug 17, 202662.10962.09461.875
Aug 14, 202662.28162.25062.313
Aug 13, 202662.76662.75062.750

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 912810RT7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 11, 2016Aug 15, 2016New issue$15.0bn$16.5bn2.24x2.274%
Sep 13, 2016Sep 15, 2016Reopening$12.0bn$12.0bn2.13x2.475%
Oct 13, 2016Oct 17, 2016Reopening$12.0bn$12.0bn2.44x2.470%

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.