Treasury bond

912810RU4 · 2.875% due November 15, 2046

Original term
30-Year
Maturity
Nov 15, 2046
Coupon
2.875%
Pays
Semi-Annual
Dated
Nov 15, 2016
First coupon
May 15, 2017
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$40.06bn
Held stripped
$2.45bn
Share stripped
6.12%

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
5.443%
Modified duration
13.710 yr
DV01
0.0956
Convexity
243.909
Dirty price
69.711

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 11 of twelve buckets, summing to 13.929 years against a modified duration of 13.710.

Against the fitted curve

Priced 0.3 bp cheap to the curve on that day, 2.43 cents per 100 of face.

That is -0.50 standard deviations from its own typical residual.

Yield to maturity, 2,457 observations

1%2%3%4%5%6%Nov 15, 2016Sep 10, 2026Nov 15, 2016Yield to maturity2.965%Feb 7, 2017Yield to maturity3.020%Apr 28, 2017Yield to maturity2.964%Jul 19, 2017Yield to maturity2.853%Oct 6, 2017Yield to maturity2.907%Dec 28, 2017Yield to maturity2.758%Mar 21, 2018Yield to maturity3.131%Jun 11, 2018Yield to maturity3.099%Aug 29, 2018Yield to maturity3.024%Nov 20, 2018Yield to maturity3.318%Feb 13, 2019Yield to maturity3.025%May 6, 2019Yield to maturity2.901%Jul 25, 2019Yield to maturity2.593%Oct 15, 2019Yield to maturity2.218%Jan 7, 2020Yield to maturity2.302%Mar 27, 2020Yield to maturity1.288%Jun 17, 2020Yield to maturity1.485%Sep 4, 2020Yield to maturity1.413%Nov 27, 2020Yield to maturity1.499%Feb 19, 2021Yield to maturity2.087%May 10, 2021Yield to maturity2.298%Jul 29, 2021Yield to maturity1.896%Oct 19, 2021Yield to maturity2.087%Jan 10, 2022Yield to maturity2.148%Mar 31, 2022Yield to maturity2.569%Jun 22, 2022Yield to maturity3.489%Sep 12, 2022Yield to maturity3.821%Dec 2, 2022Yield to maturity3.832%Feb 24, 2023Yield to maturity4.128%May 15, 2023Yield to maturity3.977%Aug 4, 2023Yield to maturity4.396%Oct 25, 2023Yield to maturity5.325%Jan 17, 2024Yield to maturity4.497%Apr 5, 2024Yield to maturity4.684%Jun 26, 2024Yield to maturity4.604%Sep 16, 2024Yield to maturity4.065%Dec 6, 2024Yield to maturity4.505%Feb 28, 2025Yield to maturity4.639%May 19, 2025Yield to maturity5.037%Aug 8, 2025Yield to maturity4.917%Oct 29, 2025Yield to maturity4.652%Jan 22, 2026Yield to maturity4.878%Apr 13, 2026Yield to maturity4.952%Jul 2, 2026Yield to maturity5.047%Sep 10, 2026Yield to maturity5.443%

Price history

2,457 trading days to Sep 10, 2026

6080100120140160Nov 15, 2016Sep 10, 2026Nov 15, 2016Close98.219Feb 7, 2017Close97.156Apr 28, 2017Close98.250Jul 19, 2017Close100.438Oct 6, 2017Close99.375Dec 28, 2017Close102.313Mar 21, 2018Close95.188Jun 11, 2018Close95.781Aug 29, 2018Close97.188Nov 20, 2018Close91.969Feb 13, 2019Close97.188May 6, 2019Close99.500Jul 25, 2019Close105.500Oct 15, 2019Close113.313Jan 7, 2020Close111.438Mar 27, 2020Close135.688Jun 17, 2020Close130.281Sep 4, 2020Close131.906Nov 27, 2020Close129.500Feb 19, 2021Close115.625May 10, 2021Close111.094Jul 29, 2021Close119.594Oct 19, 2021Close115.313Jan 10, 2022Close113.938Mar 31, 2022Close105.563Jun 22, 2022Close89.969Sep 12, 2022Close85.156Dec 2, 2022Close85.094Feb 24, 2023Close81.156May 15, 2023Close83.281Aug 4, 2023Close77.969Oct 25, 2023Close67.688Jan 17, 2024Close77.000Apr 5, 2024Close74.938Jun 26, 2024Close76.000Sep 16, 2024Close82.719Dec 6, 2024Close77.438Feb 28, 2025Close76.031May 19, 2025Close71.813Aug 8, 2025Close73.250Oct 29, 2025Close76.313Jan 22, 2026Close74.000Apr 13, 2026Close73.375Jul 2, 2026Close72.563Sep 10, 2026Close68.781
The most recent 20 trading days of prices for 912810RU4.
DateBidOfferClose
Sep 10, 202669.12569.09468.781
Sep 9, 202669.60969.56369.781
Sep 8, 202670.15670.12570.000
Sep 4, 202670.15670.12570.094
Sep 3, 202670.26670.25070.094
Sep 2, 202669.84469.81369.844
Sep 1, 202670.12570.09469.844
Aug 31, 202670.00069.96970.094
Aug 28, 202670.68870.65670.375
Aug 27, 202670.78170.75070.625
Aug 26, 202670.78170.75070.750
Aug 25, 202670.87570.84470.906
Aug 24, 202670.46970.43870.344
Aug 21, 202670.00069.96969.875
Aug 20, 202670.15670.12570.313
Aug 19, 202670.51670.46970.625
Aug 18, 202669.53169.50069.656
Aug 17, 202669.67269.65669.406
Aug 14, 202669.87569.84469.906
Aug 13, 202670.37570.34470.375

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 912810RU4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 10, 2016Nov 15, 2016New issue$15.0bn$18.3bn2.11x2.902%
Dec 13, 2016Dec 15, 2016Reopening$12.0bn$12.0bn2.39x3.152%
Jan 12, 2017Jan 17, 2017Reopening$12.0bn$12.7bn2.32x2.914%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.