Treasury bond

912810SP4 · 1.375% due August 15, 2050

Original term
30-Year
Maturity
Aug 15, 2050
Coupon
1.375%
Pays
Semi-Annual
Dated
Aug 15, 2020
First coupon
Feb 15, 2021
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$89.02bn
Held stripped
$9.21bn
Share stripped
10.35%

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
5.478%
Modified duration
17.729 yr
DV01
0.0811
Convexity
386.028
Dirty price
45.757

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 18.018 years against a modified duration of 17.729.

Against the fitted curve

Priced 3.8 bp rich to the curve on that day, 31.14 cents per 100 of face.

That is -0.70 standard deviations from its own typical residual.

Yield to maturity, 1,519 observations

1%2%3%4%5%6%Aug 17, 2020Sep 10, 2026Aug 17, 2020Yield to maturity1.433%Oct 6, 2020Yield to maturity1.556%Nov 27, 2020Yield to maturity1.580%Jan 20, 2021Yield to maturity1.843%Mar 11, 2021Yield to maturity2.298%Apr 29, 2021Yield to maturity2.323%Jun 18, 2021Yield to maturity2.043%Aug 9, 2021Yield to maturity1.988%Sep 28, 2021Yield to maturity2.090%Nov 18, 2021Yield to maturity1.998%Jan 10, 2022Yield to maturity2.133%Mar 2, 2022Yield to maturity2.290%Apr 21, 2022Yield to maturity2.983%Jun 10, 2022Yield to maturity3.286%Aug 2, 2022Yield to maturity3.087%Sep 21, 2022Yield to maturity3.591%Nov 10, 2022Yield to maturity4.140%Jan 4, 2023Yield to maturity3.883%Feb 24, 2023Yield to maturity3.961%Apr 14, 2023Yield to maturity3.781%Jun 5, 2023Yield to maturity3.947%Jul 26, 2023Yield to maturity3.971%Sep 14, 2023Yield to maturity4.456%Nov 3, 2023Yield to maturity4.836%Dec 26, 2023Yield to maturity4.146%Feb 15, 2024Yield to maturity4.513%Apr 5, 2024Yield to maturity4.610%May 24, 2024Yield to maturity4.639%Jul 17, 2024Yield to maturity4.461%Sep 5, 2024Yield to maturity4.137%Oct 25, 2024Yield to maturity4.627%Dec 17, 2024Yield to maturity4.714%Feb 7, 2025Yield to maturity4.808%Mar 31, 2025Yield to maturity4.715%May 19, 2025Yield to maturity5.055%Jul 10, 2025Yield to maturity4.982%Aug 28, 2025Yield to maturity4.994%Oct 20, 2025Yield to maturity4.680%Dec 10, 2025Yield to maturity4.907%Feb 2, 2026Yield to maturity5.020%Mar 24, 2026Yield to maturity5.075%May 12, 2026Yield to maturity5.152%Jul 2, 2026Yield to maturity5.106%Aug 21, 2026Yield to maturity5.383%Sep 10, 2026Yield to maturity5.478%

Price history

1,519 trading days to Sep 10, 2026

405060708090100110Aug 17, 2020Sep 10, 2026Aug 17, 2020Close98.594Oct 6, 2020Close95.688Nov 27, 2020Close95.156Jan 20, 2021Close89.375Mar 11, 2021Close80.344Apr 29, 2021Close79.938Jun 18, 2021Close85.375Aug 9, 2021Close86.531Sep 28, 2021Close84.563Nov 18, 2021Close86.438Jan 10, 2022Close83.844Mar 2, 2022Close80.938Apr 21, 2022Close69.406Jun 10, 2022Close65.063Aug 2, 2022Close68.031Sep 21, 2022Close61.156Nov 10, 2022Close54.625Jan 4, 2023Close57.750Feb 24, 2023Close56.938Apr 14, 2023Close59.219Jun 5, 2023Close57.344Jul 26, 2023Close57.188Sep 14, 2023Close51.969Nov 3, 2023Close48.344Dec 26, 2023Close55.563Feb 15, 2024Close51.781Apr 5, 2024Close50.938May 24, 2024Close50.781Jul 17, 2024Close52.719Sep 5, 2024Close56.313Oct 25, 2024Close51.313Dec 17, 2024Close50.594Feb 7, 2025Close49.844Mar 31, 2025Close50.875May 19, 2025Close47.844Jul 10, 2025Close48.656Aug 28, 2025Close48.688Oct 20, 2025Close51.781Dec 10, 2025Close49.781Feb 2, 2026Close48.906Mar 24, 2026Close48.563May 12, 2026Close48.031Jul 2, 2026Close48.594Aug 21, 2026Close46.375Sep 10, 2026Close45.656
The most recent 20 trading days of prices for 912810SP4.
DateBidOfferClose
Sep 10, 202645.90645.87545.656
Sep 9, 202646.26646.21946.406
Sep 8, 202646.71946.68846.625
Sep 4, 202646.71946.68846.688
Sep 3, 202646.78146.75046.625
Sep 2, 202646.43846.40646.438
Sep 1, 202646.65646.62546.438
Aug 31, 202646.53146.50046.625
Aug 28, 202647.21947.18846.875
Aug 27, 202647.25047.21947.094
Aug 26, 202647.21947.18847.188
Aug 25, 202647.25047.21947.281
Aug 24, 202646.90646.87546.781
Aug 21, 202646.43846.40646.375
Aug 20, 202646.53146.50046.688
Aug 19, 202646.89146.84446.938
Aug 18, 202646.01646.00046.125
Aug 17, 202646.14146.12545.906
Aug 14, 202646.31346.28146.344
Aug 13, 202646.75046.71946.719

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 912810SP4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 13, 2020Aug 17, 2020New issue$26.0bn$41.5bn2.14x1.406%
Sep 10, 2020Sep 15, 2020Reopening$23.0bn$23.9bn2.31x1.473%
Oct 8, 2020Oct 15, 2020Reopening$23.0bn$23.6bn2.29x1.578%

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.