Treasury bond

912810TB4 · 1.875% due November 15, 2051

Original term
30-Year
Maturity
Nov 15, 2051
Coupon
1.875%
Pays
Semi-Annual
Dated
Nov 15, 2021
First coupon
May 15, 2022
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$88.74bn
Held stripped
$15.48bn
Share stripped
17.45%

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, November 9, 2026

Yield to maturity
5.369%
Modified duration
16.919 yr
DV01
0.0899
Convexity
3.73
Dirty price
53.131

Where its rate sensitivity sits

0.01
0.03
0.06
0.15
0.28
0.46
0.89
1.21
1.20
12.84
0.03
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 17.157 years against a modified duration of 16.919.

Against the fitted curve

Priced 2.3 bp rich to the curve on that day, 20.28 cents per 100 of face.

That is -0.38 standard deviations from its own typical residual.

Yield to maturity, 1,246 observations

1%2%3%4%5%6%Nov 15, 2021Nov 9, 2026Nov 15, 2021Yield to maturity2.010%Nov 23, 2021Yield to maturity2.024%Dec 2, 2021Yield to maturity1.762%Dec 10, 2021Yield to maturity1.880%Dec 20, 2021Yield to maturity1.854%Dec 29, 2021Yield to maturity1.958%Jan 6, 2022Yield to maturity2.090%Jan 14, 2022Yield to maturity2.123%Jan 25, 2022Yield to maturity2.122%Feb 2, 2022Yield to maturity2.116%Feb 10, 2022Yield to maturity2.312%Feb 18, 2022Yield to maturity2.262%Mar 1, 2022Yield to maturity2.121%Mar 9, 2022Yield to maturity2.309%Mar 17, 2022Yield to maturity2.510%Mar 25, 2022Yield to maturity2.608%Apr 4, 2022Yield to maturity2.494%Apr 12, 2022Yield to maturity2.831%Apr 21, 2022Yield to maturity2.944%Apr 29, 2022Yield to maturity2.959%May 9, 2022Yield to maturity3.192%May 17, 2022Yield to maturity3.213%May 25, 2022Yield to maturity3.017%Jun 3, 2022Yield to maturity3.152%Jun 13, 2022Yield to maturity3.446%Jun 22, 2022Yield to maturity3.270%Jun 30, 2022Yield to maturity3.160%Jul 11, 2022Yield to maturity3.202%Jul 19, 2022Yield to maturity3.199%Jul 27, 2022Yield to maturity3.067%Aug 4, 2022Yield to maturity3.003%Aug 12, 2022Yield to maturity3.177%Aug 22, 2022Yield to maturity3.306%Aug 30, 2022Yield to maturity3.287%Sep 8, 2022Yield to maturity3.511%Sep 16, 2022Yield to maturity3.575%Sep 26, 2022Yield to maturity3.748%Oct 4, 2022Yield to maturity3.735%Oct 13, 2022Yield to maturity3.998%Oct 21, 2022Yield to maturity4.357%Oct 31, 2022Yield to maturity4.253%Nov 8, 2022Yield to maturity4.291%Nov 17, 2022Yield to maturity3.964%Nov 28, 2022Yield to maturity3.814%Dec 6, 2022Yield to maturity3.582%Dec 14, 2022Yield to maturity3.572%Dec 22, 2022Yield to maturity3.786%Jan 3, 2023Yield to maturity3.930%Jan 11, 2023Yield to maturity3.713%Jan 20, 2023Yield to maturity3.687%Jan 30, 2023Yield to maturity3.684%Feb 7, 2023Yield to maturity3.746%Feb 15, 2023Yield to maturity3.859%Feb 24, 2023Yield to maturity3.944%Mar 6, 2023Yield to maturity3.917%Mar 14, 2023Yield to maturity3.790%Mar 22, 2023Yield to maturity3.699%Mar 30, 2023Yield to maturity3.765%Apr 7, 2023Yield to maturity3.643%Apr 17, 2023Yield to maturity3.830%Apr 25, 2023Yield to maturity3.670%May 3, 2023Yield to maturity3.723%May 11, 2023Yield to maturity3.770%May 19, 2023Yield to maturity3.981%May 30, 2023Yield to maturity3.934%Jun 7, 2023Yield to maturity3.971%Jun 15, 2023Yield to maturity3.866%Jun 26, 2023Yield to maturity3.844%Jul 5, 2023Yield to maturity3.956%Jul 13, 2023Yield to maturity3.906%Jul 21, 2023Yield to maturity3.919%Jul 31, 2023Yield to maturity4.031%Aug 8, 2023Yield to maturity4.209%Aug 16, 2023Yield to maturity4.396%Aug 24, 2023Yield to maturity4.322%Sep 1, 2023Yield to maturity4.319%Sep 12, 2023Yield to maturity4.377%Sep 20, 2023Yield to maturity4.430%Sep 28, 2023Yield to maturity4.751%Oct 6, 2023Yield to maturity4.976%Oct 17, 2023Yield to maturity4.965%Oct 25, 2023Yield to maturity5.113%Nov 2, 2023Yield to maturity4.848%Nov 10, 2023Yield to maturity4.775%Nov 20, 2023Yield to maturity4.618%Nov 29, 2023Yield to maturity4.481%Dec 7, 2023Yield to maturity4.295%Dec 15, 2023Yield to maturity4.059%Dec 26, 2023Yield to maturity4.111%Jan 4, 2024Yield to maturity4.197%Jan 12, 2024Yield to maturity4.272%Jan 23, 2024Yield to maturity4.452%Jan 31, 2024Yield to maturity4.299%Feb 8, 2024Yield to maturity4.436%Feb 16, 2024Yield to maturity4.513%Feb 27, 2024Yield to maturity4.500%Mar 6, 2024Yield to maturity4.297%Mar 14, 2024Yield to maturity4.492%Mar 22, 2024Yield to maturity4.441%Apr 2, 2024Yield to maturity4.552%Apr 10, 2024Yield to maturity4.669%Apr 18, 2024Yield to maturity4.777%Apr 26, 2024Yield to maturity4.812%May 6, 2024Yield to maturity4.677%May 14, 2024Yield to maturity4.635%May 22, 2024Yield to maturity4.587%May 31, 2024Yield to maturity4.685%Jun 10, 2024Yield to maturity4.631%Jun 18, 2024Yield to maturity4.402%Jun 27, 2024Yield to maturity4.470%Jul 8, 2024Yield to maturity4.511%Jul 16, 2024Yield to maturity4.432%Jul 24, 2024Yield to maturity4.605%Aug 1, 2024Yield to maturity4.339%Aug 9, 2024Yield to maturity4.319%Aug 19, 2024Yield to maturity4.207%Aug 27, 2024Yield to maturity4.216%Sep 5, 2024Yield to maturity4.106%Sep 13, 2024Yield to maturity4.075%Sep 23, 2024Yield to maturity4.179%Oct 1, 2024Yield to maturity4.180%Oct 9, 2024Yield to maturity4.434%Oct 18, 2024Yield to maturity4.475%Oct 28, 2024Yield to maturity4.607%Nov 5, 2024Yield to maturity4.520%Nov 14, 2024Yield to maturity4.686%Nov 22, 2024Yield to maturity4.697%Dec 3, 2024Yield to maturity4.497%Dec 11, 2024Yield to maturity4.581%Dec 19, 2024Yield to maturity4.843%Dec 30, 2024Yield to maturity4.870%Jan 8, 2025Yield to maturity5.019%Jan 16, 2025Yield to maturity4.927%Jan 27, 2025Yield to maturity4.855%Feb 4, 2025Yield to maturity4.838%Feb 12, 2025Yield to maturity4.920%Feb 21, 2025Yield to maturity4.758%Mar 3, 2025Yield to maturity4.552%Mar 11, 2025Yield to maturity4.704%Mar 19, 2025Yield to maturity4.665%Mar 27, 2025Yield to maturity4.834%Apr 4, 2025Yield to maturity4.522%Apr 14, 2025Yield to maturity4.915%Apr 23, 2025Yield to maturity4.939%May 1, 2025Yield to maturity4.854%May 9, 2025Yield to maturity4.956%May 19, 2025Yield to maturity5.028%May 28, 2025Yield to maturity5.078%Jun 5, 2025Yield to maturity4.993%Jun 13, 2025Yield to maturity5.018%Jun 24, 2025Yield to maturity4.938%Jul 2, 2025Yield to maturity4.921%Jul 11, 2025Yield to maturity5.063%Jul 21, 2025Yield to maturity5.039%Jul 29, 2025Yield to maturity4.958%Aug 6, 2025Yield to maturity4.901%Aug 14, 2025Yield to maturity4.971%Aug 22, 2025Yield to maturity4.977%Sep 2, 2025Yield to maturity5.075%Sep 10, 2025Yield to maturity4.780%Sep 18, 2025Yield to maturity4.815%Sep 26, 2025Yield to maturity4.857%Oct 6, 2025Yield to maturity4.853%Oct 15, 2025Yield to maturity4.721%Oct 23, 2025Yield to maturity4.670%Oct 31, 2025Yield to maturity4.758%Nov 10, 2025Yield to maturity4.803%Nov 19, 2025Yield to maturity4.853%Nov 28, 2025Yield to maturity4.764%Dec 8, 2025Yield to maturity4.917%Dec 16, 2025Yield to maturity4.925%Dec 24, 2025Yield to maturity4.899%Jan 5, 2026Yield to maturity4.958%Jan 13, 2026Yield to maturity4.931%Jan 22, 2026Yield to maturity4.943%Jan 30, 2026Yield to maturity4.977%Feb 9, 2026Yield to maturity4.950%Feb 18, 2026Yield to maturity4.816%Feb 26, 2026Yield to maturity4.766%Mar 6, 2026Yield to maturity4.876%Mar 16, 2026Yield to maturity4.968%Mar 24, 2026Yield to maturity5.054%Apr 1, 2026Yield to maturity5.027%Apr 9, 2026Yield to maturity5.009%Apr 17, 2026Yield to maturity4.993%Apr 27, 2026Yield to maturity5.049%May 5, 2026Yield to maturity5.094%May 13, 2026Yield to maturity5.151%May 21, 2026Yield to maturity5.203%Jun 1, 2026Yield to maturity5.097%Jun 9, 2026Yield to maturity5.115%Jun 17, 2026Yield to maturity5.039%Jun 26, 2026Yield to maturity4.972%Jul 7, 2026Yield to maturity5.159%Jul 15, 2026Yield to maturity5.184%Jul 23, 2026Yield to maturity5.277%Jul 31, 2026Yield to maturity5.379%Aug 10, 2026Yield to maturity5.361%Aug 18, 2026Yield to maturity5.405%Aug 26, 2026Yield to maturity5.283%Sep 3, 2026Yield to maturity5.350%Sep 14, 2026Yield to maturity5.440%Sep 22, 2026Yield to maturity5.386%Sep 30, 2026Yield to maturity5.733%Oct 8, 2026Yield to maturity5.705%Oct 19, 2026Yield to maturity5.580%Oct 27, 2026Yield to maturity5.400%Nov 4, 2026Yield to maturity5.385%Nov 9, 2026Yield to maturity5.369%

Price history

1,246 trading days to Nov 9, 2026

405060708090100110Nov 15, 2021Nov 9, 2026Nov 15, 2021Close96.969Nov 23, 2021Close96.656Dec 2, 2021Close102.625Dec 10, 2021Close99.875Dec 20, 2021Close100.469Dec 29, 2021Close98.125Jan 6, 2022Close95.250Jan 14, 2022Close94.531Jan 25, 2022Close94.563Feb 2, 2022Close94.688Feb 10, 2022Close90.625Feb 18, 2022Close91.656Mar 1, 2022Close94.594Mar 9, 2022Close90.719Mar 17, 2022Close86.781Mar 25, 2022Close84.938Apr 4, 2022Close87.094Apr 12, 2022Close80.938Apr 21, 2022Close79.000Apr 29, 2022Close78.750May 9, 2022Close74.938May 17, 2022Close74.625May 25, 2022Close77.813Jun 3, 2022Close75.625Jun 13, 2022Close71.094Jun 22, 2022Close73.781Jun 30, 2022Close75.531Jul 11, 2022Close74.875Jul 19, 2022Close74.938Jul 27, 2022Close77.063Aug 4, 2022Close78.125Aug 12, 2022Close75.313Aug 22, 2022Close73.313Aug 30, 2022Close73.625Sep 8, 2022Close70.281Sep 16, 2022Close69.375Sep 26, 2022Close66.969Oct 4, 2022Close67.156Oct 13, 2022Close63.688Oct 21, 2022Close59.313Oct 31, 2022Close60.563Nov 8, 2022Close60.125Nov 17, 2022Close64.188Nov 28, 2022Close66.188Dec 6, 2022Close69.406Dec 14, 2022Close69.563Dec 22, 2022Close66.594Jan 3, 2023Close64.719Jan 11, 2023Close67.625Jan 20, 2023Close68.000Jan 30, 2023Close68.063Feb 7, 2023Close67.219Feb 15, 2023Close65.719Feb 24, 2023Close64.625Mar 6, 2023Close65.000Mar 14, 2023Close66.688Mar 22, 2023Close67.938Mar 30, 2023Close67.063Apr 7, 2023Close68.750Apr 17, 2023Close66.219Apr 25, 2023Close68.406May 3, 2023Close67.688May 11, 2023Close67.063May 19, 2023Close64.313May 30, 2023Close64.938Jun 7, 2023Close64.469Jun 15, 2023Close65.844Jun 26, 2023Close66.156Jul 5, 2023Close64.719Jul 13, 2023Close65.375Jul 21, 2023Close65.219Jul 31, 2023Close63.813Aug 8, 2023Close61.625Aug 16, 2023Close59.438Aug 24, 2023Close60.313Sep 1, 2023Close60.375Sep 12, 2023Close59.719Sep 20, 2023Close59.125Sep 28, 2023Close55.625Oct 6, 2023Close53.344Oct 17, 2023Close53.469Oct 25, 2023Close52.031Nov 2, 2023Close54.688Nov 10, 2023Close55.469Nov 20, 2023Close57.156Nov 29, 2023Close58.688Dec 7, 2023Close60.844Dec 15, 2023Close63.719Dec 26, 2023Close63.094Jan 4, 2024Close62.063Jan 12, 2024Close61.188Jan 23, 2024Close59.125Jan 31, 2024Close60.906Feb 8, 2024Close59.344Feb 16, 2024Close58.500Feb 27, 2024Close58.656Mar 6, 2024Close61.000Mar 14, 2024Close58.781Mar 22, 2024Close59.375Apr 2, 2024Close58.156Apr 10, 2024Close56.906Apr 18, 2024Close55.781Apr 26, 2024Close55.438May 6, 2024Close56.875May 14, 2024Close57.344May 22, 2024Close57.875May 31, 2024Close56.844Jun 10, 2024Close57.438Jun 18, 2024Close60.000Jun 27, 2024Close59.250Jul 8, 2024Close58.813Jul 16, 2024Close59.719Jul 24, 2024Close57.813Aug 1, 2024Close60.813Aug 9, 2024Close61.063Aug 19, 2024Close62.406Aug 27, 2024Close62.313Sep 5, 2024Close63.656Sep 13, 2024Close64.063Sep 23, 2024Close62.813Oct 1, 2024Close62.813Oct 9, 2024Close59.875Oct 18, 2024Close59.438Oct 28, 2024Close58.000Nov 5, 2024Close58.969Nov 14, 2024Close57.188Nov 22, 2024Close57.094Dec 3, 2024Close59.281Dec 11, 2024Close58.375Dec 19, 2024Close55.625Dec 30, 2024Close55.375Jan 8, 2025Close53.906Jan 16, 2025Close54.844Jan 27, 2025Close55.594Feb 4, 2025Close55.781Feb 12, 2025Close54.969Feb 21, 2025Close56.656Mar 3, 2025Close58.875Mar 11, 2025Close57.250Mar 19, 2025Close57.688Mar 27, 2025Close55.938Apr 4, 2025Close59.281Apr 14, 2025Close55.156Apr 23, 2025Close54.938May 1, 2025Close55.813May 9, 2025Close54.813May 19, 2025Close54.125May 28, 2025Close53.656Jun 5, 2025Close54.500Jun 13, 2025Close54.281Jun 24, 2025Close55.094Jul 2, 2025Close55.281Jul 11, 2025Close53.906Jul 21, 2025Close54.156Jul 29, 2025Close54.969Aug 6, 2025Close55.563Aug 14, 2025Close54.875Aug 22, 2025Close54.844Sep 2, 2025Close53.906Sep 10, 2025Close56.875Sep 18, 2025Close56.531Sep 26, 2025Close56.125Oct 6, 2025Close56.188Oct 15, 2025Close57.563Oct 23, 2025Close58.125Oct 31, 2025Close57.219Nov 10, 2025Close56.781Nov 19, 2025Close56.281Nov 28, 2025Close57.219Dec 8, 2025Close55.688Dec 16, 2025Close55.625Dec 24, 2025Close55.906Jan 5, 2026Close55.344Jan 13, 2026Close55.625Jan 22, 2026Close55.531Jan 30, 2026Close55.219Feb 9, 2026Close55.500Feb 18, 2026Close56.875Feb 26, 2026Close57.406Mar 6, 2026Close56.313Mar 16, 2026Close55.406Mar 24, 2026Close54.594Apr 1, 2026Close54.875Apr 9, 2026Close55.063Apr 17, 2026Close55.250Apr 27, 2026Close54.719May 5, 2026Close54.313May 13, 2026Close53.781May 21, 2026Close53.313Jun 1, 2026Close54.344Jun 9, 2026Close54.188Jun 17, 2026Close54.938Jun 26, 2026Close55.625Jul 7, 2026Close53.844Jul 15, 2026Close53.625Jul 23, 2026Close52.781Jul 31, 2026Close51.875Aug 10, 2026Close52.063Aug 18, 2026Close51.688Aug 26, 2026Close52.813Sep 3, 2026Close52.219Sep 14, 2026Close51.438Sep 22, 2026Close51.938Sep 30, 2026Close48.969Oct 8, 2026Close49.219Oct 19, 2026Close50.313Oct 27, 2026Close51.906Nov 4, 2026Close52.063Nov 9, 2026Close52.219
The most recent 20 trading days of prices for 912810TB4.
DateBidOfferClose
Nov 9, 202652.21952.25052.219
Nov 6, 202652.31352.34452.250
Nov 5, 202652.31352.34452.313
Nov 4, 202651.84451.87552.063
Nov 3, 202651.84451.87551.719
Nov 2, 202652.34452.35952.063
Oct 30, 202651.71951.75051.719
Oct 29, 202651.75051.78151.750
Oct 28, 202651.65651.68851.219
Oct 27, 202651.87551.90651.906
Oct 26, 202651.84451.87551.844
Oct 23, 202651.78151.82851.688
Oct 22, 202651.62551.67252.031
Oct 21, 202650.93850.96950.844
Oct 20, 202650.81350.84450.813
Oct 19, 202650.50050.53150.313
Oct 16, 202650.90650.95350.813
Oct 15, 202650.78150.82850.750
Oct 14, 202649.56349.59449.938
Oct 13, 202649.62549.65649.625

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

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 912810TB4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 10, 2021Nov 15, 2021New issue$25.0bn$39.5bn2.20x1.940%
Dec 9, 2021Dec 15, 2021Reopening$22.0bn$25.2bn2.22x1.895%
Jan 13, 2022Jan 18, 2022Reopening$22.0bn$25.5bn2.35x2.075%

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.