Treasury bond

912810SZ2 · 2% due August 15, 2051

Original term
30-Year
Maturity
Aug 15, 2051
Coupon
2.000%
Pays
Semi-Annual
Dated
Aug 15, 2021
First coupon
Feb 15, 2022
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$90.04bn
Held stripped
$18.46bn
Share stripped
20.50%

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
5.469%
Modified duration
16.819 yr
DV01
0.0895
Convexity
367.222
Dirty price
53.240

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 17.054 years against a modified duration of 16.819.

Against the fitted curve

Priced 1.7 bp rich to the curve on that day, 15.53 cents per 100 of face.

That is -0.08 standard deviations from its own typical residual.

Yield to maturity, 1,269 observations

1%2%3%4%5%6%Aug 16, 2021Sep 10, 2026Aug 16, 2021Yield to maturity1.924%Sep 27, 2021Yield to maturity1.992%Nov 8, 2021Yield to maturity1.888%Dec 21, 2021Yield to maturity1.891%Feb 2, 2022Yield to maturity2.120%Mar 16, 2022Yield to maturity2.483%Apr 27, 2022Yield to maturity2.925%Jun 8, 2022Yield to maturity3.233%Jul 21, 2022Yield to maturity3.121%Aug 31, 2022Yield to maturity3.338%Oct 13, 2022Yield to maturity4.013%Nov 25, 2022Yield to maturity3.828%Jan 9, 2023Yield to maturity3.716%Feb 21, 2023Yield to maturity4.007%Apr 3, 2023Yield to maturity3.670%May 12, 2023Yield to maturity3.819%Jun 26, 2023Yield to maturity3.850%Aug 7, 2023Yield to maturity4.290%Sep 18, 2023Yield to maturity4.439%Oct 30, 2023Yield to maturity5.083%Dec 11, 2023Yield to maturity4.389%Jan 24, 2024Yield to maturity4.497%Mar 6, 2024Yield to maturity4.310%Apr 16, 2024Yield to maturity4.817%May 28, 2024Yield to maturity4.708%Jul 10, 2024Yield to maturity4.535%Aug 20, 2024Yield to maturity4.177%Oct 1, 2024Yield to maturity4.186%Nov 13, 2024Yield to maturity4.741%Dec 26, 2024Yield to maturity4.866%Feb 7, 2025Yield to maturity4.788%Mar 21, 2025Yield to maturity4.703%May 1, 2025Yield to maturity4.856%Jun 12, 2025Yield to maturity4.947%Jul 25, 2025Yield to maturity5.023%Sep 5, 2025Yield to maturity4.869%Oct 17, 2025Yield to maturity4.690%Dec 1, 2025Yield to maturity4.841%Jan 13, 2026Yield to maturity4.933%Feb 25, 2026Yield to maturity4.794%Apr 7, 2026Yield to maturity5.015%May 18, 2026Yield to maturity5.245%Jun 30, 2026Yield to maturity5.022%Aug 11, 2026Yield to maturity5.355%Sep 10, 2026Yield to maturity5.469%

Price history

1,269 trading days to Sep 10, 2026

5060708090100110Aug 16, 2021Sep 10, 2026Aug 16, 2021Close101.719Sep 27, 2021Close100.188Nov 8, 2021Close102.531Dec 21, 2021Close102.469Feb 2, 2022Close97.375Mar 16, 2022Close89.969Apr 27, 2022Close81.875Jun 8, 2022Close76.813Jul 21, 2022Close78.688Aug 31, 2022Close75.281Oct 13, 2022Close65.781Nov 25, 2022Close68.313Jan 9, 2023Close69.938Feb 21, 2023Close66.094Apr 3, 2023Close70.719May 12, 2023Close68.719Jun 26, 2023Close68.375Aug 7, 2023Close62.875Sep 18, 2023Close61.188Oct 30, 2023Close54.375Dec 11, 2023Close61.938Jan 24, 2024Close60.781Mar 6, 2024Close63.031Apr 16, 2024Close57.438May 28, 2024Close58.688Jul 10, 2024Close60.688Aug 20, 2024Close64.969Oct 1, 2024Close64.938Nov 13, 2024Close58.688Dec 26, 2024Close57.469Feb 7, 2025Close58.375Mar 21, 2025Close59.375May 1, 2025Close57.844Jun 12, 2025Close57.000Jul 25, 2025Close56.344Sep 5, 2025Close58.000Oct 17, 2025Close59.969Dec 1, 2025Close58.469Jan 13, 2026Close57.625Feb 25, 2026Close59.156Apr 7, 2026Close57.000May 18, 2026Close54.875Jun 30, 2026Close57.125Aug 11, 2026Close54.063Sep 10, 2026Close53.094
The most recent 20 trading days of prices for 912810SZ2.
DateBidOfferClose
Sep 10, 202653.37553.34453.094
Sep 9, 202653.76653.71953.906
Sep 8, 202654.26654.25054.156
Sep 4, 202654.28154.25054.219
Sep 3, 202654.32854.31354.156
Sep 2, 202653.96953.93853.969
Sep 1, 202654.21954.18853.969
Aug 31, 202654.06354.03154.156
Aug 28, 202654.81354.78154.469
Aug 27, 202654.84454.81354.688
Aug 26, 202654.82854.81354.781
Aug 25, 202654.82854.81354.906
Aug 24, 202654.46954.43854.344
Aug 21, 202654.01654.00053.906
Aug 20, 202654.12554.09454.250
Aug 19, 202654.46954.43854.563
Aug 18, 202653.54753.53153.625
Aug 17, 202653.68853.65653.438
Aug 14, 202653.87553.84453.938
Aug 13, 202654.34454.31354.344

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 912810SZ2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 12, 2021Aug 16, 2021New issue$27.0bn$39.0bn2.21x2.040%
Sep 9, 2021Sep 15, 2021Reopening$24.0bn$26.6bn2.49x1.910%
Oct 13, 2021Oct 15, 2021Reopening$24.0bn$25.8bn2.36x2.049%

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.