Treasury bond

912810RZ3 · 2.75% due November 15, 2047

Original term
30-Year
Maturity
Nov 15, 2047
Coupon
2.750%
Pays
Semi-Annual
Dated
Nov 15, 2017
First coupon
May 15, 2018
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$39.29bn
Held stripped
$8.74bn
Share stripped
22.24%

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
5.457%
Modified duration
14.227 yr
DV01
0.0955
Convexity
264.322
Dirty price
67.139

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 14.443 years against a modified duration of 14.227.

Against the fitted curve

Priced 0.0 bp rich to the curve on that day, 0.33 cents per 100 of face.

That is -0.44 standard deviations from its own typical residual.

Yield to maturity, 2,206 observations

1%2%3%4%5%6%Nov 15, 2017Sep 10, 2026Nov 15, 2017Yield to maturity2.772%Jan 31, 2018Yield to maturity2.946%Apr 16, 2018Yield to maturity3.031%Jun 27, 2018Yield to maturity2.978%Sep 10, 2018Yield to maturity3.090%Nov 23, 2018Yield to maturity3.313%Feb 8, 2019Yield to maturity2.974%Apr 24, 2019Yield to maturity2.945%Jul 8, 2019Yield to maturity2.533%Sep 18, 2019Yield to maturity2.245%Dec 3, 2019Yield to maturity2.172%Feb 18, 2020Yield to maturity2.009%Apr 30, 2020Yield to maturity1.281%Jul 14, 2020Yield to maturity1.281%Sep 24, 2020Yield to maturity1.361%Dec 9, 2020Yield to maturity1.621%Feb 24, 2021Yield to maturity2.202%May 6, 2021Yield to maturity2.224%Jul 20, 2021Yield to maturity1.870%Sep 30, 2021Yield to maturity2.070%Dec 15, 2021Yield to maturity1.894%Mar 1, 2022Yield to maturity2.197%May 12, 2022Yield to maturity3.182%Jul 27, 2022Yield to maturity3.251%Oct 7, 2022Yield to maturity4.100%Dec 22, 2022Yield to maturity3.914%Mar 9, 2023Yield to maturity4.042%May 19, 2023Yield to maturity4.087%Aug 3, 2023Yield to maturity4.487%Oct 17, 2023Yield to maturity5.147%Dec 29, 2023Yield to maturity4.224%Mar 14, 2024Yield to maturity4.596%May 24, 2024Yield to maturity4.707%Aug 8, 2024Yield to maturity4.449%Oct 22, 2024Yield to maturity4.627%Jan 7, 2025Yield to maturity5.046%Mar 21, 2025Yield to maturity4.716%Jun 3, 2025Yield to maturity5.111%Aug 15, 2025Yield to maturity5.006%Oct 29, 2025Yield to maturity4.672%Jan 14, 2026Yield to maturity4.839%Mar 30, 2026Yield to maturity5.003%Jun 10, 2026Yield to maturity5.117%Aug 24, 2026Yield to maturity5.295%Sep 10, 2026Yield to maturity5.457%

Price history

2,206 trading days to Sep 10, 2026

6080100120140160Nov 15, 2017Sep 10, 2026Nov 15, 2017Close99.563Jan 31, 2018Close96.125Apr 16, 2018Close94.531Jun 27, 2018Close95.563Sep 10, 2018Close93.500Nov 23, 2018Close89.563Feb 8, 2019Close95.688Apr 24, 2019Close96.250Jul 8, 2019Close104.375Sep 18, 2019Close110.500Dec 3, 2019Close112.063Feb 18, 2020Close115.688Apr 30, 2020Close134.000Jul 14, 2020Close133.781Sep 24, 2020Close131.438Dec 9, 2020Close124.563Feb 24, 2021Close111.031May 6, 2021Close110.500Jul 20, 2021Close118.219Sep 30, 2021Close113.656Dec 15, 2021Close117.469Mar 1, 2022Close110.813May 12, 2022Close92.500Jul 27, 2022Close91.406Oct 7, 2022Close78.969Dec 22, 2022Close81.594Mar 9, 2023Close79.938May 19, 2023Close79.438Aug 3, 2023Close74.469Oct 17, 2023Close67.125Dec 29, 2023Close77.969Mar 14, 2024Close73.531May 24, 2024Close72.375Aug 8, 2024Close75.531Oct 22, 2024Close73.563Jan 7, 2025Close69.063Mar 21, 2025Close72.813Jun 3, 2025Close68.688Aug 15, 2025Close69.938Oct 29, 2025Close73.719Jan 14, 2026Close72.031Mar 30, 2026Close70.438Jun 10, 2026Close69.406Aug 24, 2026Close67.781Sep 10, 2026Close66.250
The most recent 20 trading days of prices for 912810RZ3.
DateBidOfferClose
Sep 10, 202666.62566.59466.250
Sep 9, 202667.09467.06367.281
Sep 8, 202667.62567.59467.500
Sep 4, 202667.65667.62567.594
Sep 3, 202667.75067.71967.563
Sep 2, 202667.34467.31367.344
Sep 1, 202667.62567.59467.344
Aug 31, 202667.48467.43867.563
Aug 28, 202668.20368.15667.875
Aug 27, 202668.28168.25068.125
Aug 26, 202668.26668.25068.219
Aug 25, 202668.31368.28168.344
Aug 24, 202667.93867.90667.781
Aug 21, 202667.42267.37567.313
Aug 20, 202667.56367.53167.719
Aug 19, 202667.95367.90668.063
Aug 18, 202666.95366.93867.063
Aug 17, 202667.09467.06366.844
Aug 14, 202667.28167.25067.344
Aug 13, 202667.81367.78167.813

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 912810RZ3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 9, 2017Nov 15, 2017New issue$15.0bn$16.8bn2.23x2.801%
Dec 12, 2017Dec 15, 2017Reopening$12.0bn$12.0bn2.48x2.804%
Jan 11, 2018Jan 16, 2018Reopening$12.0bn$12.4bn2.74x2.867%

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.