Inflation-linked (TIPS)

912810TE8 · 0.125% due February 15, 2052

Original term
30-Year
Maturity
Feb 15, 2052
Coupon
0.125%
Pays
Semi-Annual
Dated
Feb 15, 2022
First coupon
Aug 15, 2022
Priced through
Nov 9, 2026
Analyzed through
not analyzed

Statement of October 31, 2026

Amount outstanding
$23.55bn
Held stripped
$0.0m
Share stripped
0.00%

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. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, November 9, 2026

An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.

Real yield
3.115%
Index ratio
1.2055
Real duration
24.236 yr
DV01
0.1163
Convexity
6.1
Real clean price
47.969
Accrued (real)
0.030
Real dirty price
47.998
Indexed principal
120.545
Money clean price
57.824

The index ratio is a multiplier, not a percentage: 1.2055 means the principal is worth that many times its original face today. So the real clean price of 47.969 is not what a buyer pays , multiply by the ratio to get 57.824 per 100 of original face.

Against the fitted real curve

Priced 5.7 bp rich to the real curve on that day, 66.41 cents per 100 of face.

That is 1.64 standard deviations from its own typical residual.

Real yield, 1,175 observations

-1%0%1%2%3%4%Feb 28, 2022Nov 9, 2026Feb 28, 2022Real yield-0.117%Mar 7, 2022Real yield-0.253%Mar 14, 2022Real yield-0.143%Mar 21, 2022Real yield0.002%Mar 28, 2022Real yield0.020%Apr 4, 2022Real yield0.015%Apr 11, 2022Real yield0.277%Apr 19, 2022Real yield0.387%Apr 26, 2022Real yield0.340%May 3, 2022Real yield0.493%May 10, 2022Real yield0.678%May 17, 2022Real yield0.668%May 24, 2022Real yield0.638%Jun 1, 2022Real yield0.680%Jun 8, 2022Real yield0.638%Jun 15, 2022Real yield0.871%Jun 23, 2022Real yield0.817%Jun 30, 2022Real yield0.929%Jul 8, 2022Real yield1.038%Jul 15, 2022Real yield0.873%Jul 22, 2022Real yield0.842%Jul 29, 2022Real yield0.731%Aug 5, 2022Real yield0.836%Aug 12, 2022Real yield0.915%Aug 19, 2022Real yield0.895%Aug 26, 2022Real yield0.875%Sep 2, 2022Real yield1.030%Sep 12, 2022Real yield1.226%Sep 19, 2022Real yield1.293%Sep 26, 2022Real yield1.517%Oct 3, 2022Real yield1.603%Oct 11, 2022Real yield1.742%Oct 18, 2022Real yield1.719%Oct 25, 2022Real yield1.760%Nov 1, 2022Real yield1.650%Nov 8, 2022Real yield1.750%Nov 16, 2022Real yield1.520%Nov 23, 2022Real yield1.439%Dec 1, 2022Real yield1.298%Dec 8, 2022Real yield1.147%Dec 15, 2022Real yield1.337%Dec 22, 2022Real yield1.540%Dec 30, 2022Real yield1.678%Jan 9, 2023Real yield1.422%Jan 17, 2023Real yield1.481%Jan 24, 2023Real yield1.354%Jan 31, 2023Real yield1.450%Feb 7, 2023Real yield1.483%Feb 14, 2023Real yield1.542%Feb 22, 2023Real yield1.586%Mar 1, 2023Real yield1.599%Mar 8, 2023Real yield1.605%Mar 15, 2023Real yield1.423%Mar 22, 2023Real yield1.411%Mar 29, 2023Real yield1.485%Apr 5, 2023Real yield1.371%Apr 12, 2023Real yield1.369%Apr 19, 2023Real yield1.517%Apr 26, 2023Real yield1.453%May 3, 2023Real yield1.486%May 10, 2023Real yield1.577%May 17, 2023Real yield1.595%May 24, 2023Real yield1.655%Jun 1, 2023Real yield1.605%Jun 8, 2023Real yield1.633%Jun 15, 2023Real yield1.612%Jun 23, 2023Real yield1.573%Jun 30, 2023Real yield1.603%Jul 10, 2023Real yield1.777%Jul 17, 2023Real yield1.649%Jul 24, 2023Real yield1.591%Jul 31, 2023Real yield1.743%Aug 7, 2023Real yield1.881%Aug 14, 2023Real yield1.965%Aug 21, 2023Real yield2.107%Aug 28, 2023Real yield1.973%Sep 5, 2023Real yield2.084%Sep 12, 2023Real yield2.010%Sep 19, 2023Real yield2.071%Sep 26, 2023Real yield2.317%Oct 3, 2023Real yield2.497%Oct 11, 2023Real yield2.318%Oct 18, 2023Real yield2.482%Oct 25, 2023Real yield2.539%Nov 1, 2023Real yield2.416%Nov 8, 2023Real yield2.143%Nov 15, 2023Real yield2.256%Nov 22, 2023Real yield2.176%Nov 30, 2023Real yield2.194%Dec 7, 2023Real yield1.998%Dec 14, 2023Real yield1.798%Dec 21, 2023Real yield1.852%Dec 29, 2023Real yield1.896%Jan 8, 2024Real yield1.962%Jan 16, 2024Real yield2.015%Jan 23, 2024Real yield2.075%Jan 30, 2024Real yield2.031%Feb 6, 2024Real yield2.058%Feb 13, 2024Real yield2.197%Feb 21, 2024Real yield2.184%Feb 28, 2024Real yield2.113%Mar 6, 2024Real yield1.970%Mar 13, 2024Real yield2.086%Mar 20, 2024Real yield2.173%Mar 27, 2024Real yield2.093%Apr 4, 2024Real yield2.170%Apr 11, 2024Real yield2.316%Apr 18, 2024Real yield2.388%Apr 25, 2024Real yield2.405%May 2, 2024Real yield2.355%May 9, 2024Real yield2.245%May 16, 2024Real yield2.183%May 23, 2024Real yield2.248%May 31, 2024Real yield2.277%Jun 7, 2024Real yield2.218%Jun 14, 2024Real yield2.098%Jun 24, 2024Real yield2.118%Jul 1, 2024Real yield2.294%Jul 9, 2024Real yield2.179%Jul 16, 2024Real yield2.064%Jul 23, 2024Real yield2.170%Jul 30, 2024Real yield2.123%Aug 6, 2024Real yield2.011%Aug 13, 2024Real yield2.011%Aug 20, 2024Real yield1.950%Aug 27, 2024Real yield1.938%Sep 4, 2024Real yield1.939%Sep 11, 2024Real yield1.869%Sep 18, 2024Real yield1.849%Sep 25, 2024Real yield1.914%Oct 2, 2024Real yield1.889%Oct 9, 2024Real yield2.029%Oct 17, 2024Real yield2.074%Oct 24, 2024Real yield2.142%Oct 31, 2024Real yield2.119%Nov 7, 2024Real yield2.179%Nov 15, 2024Real yield2.268%Nov 22, 2024Real yield2.253%Dec 2, 2024Real yield2.113%Dec 9, 2024Real yield2.141%Dec 16, 2024Real yield2.285%Dec 23, 2024Real yield2.437%Dec 31, 2024Real yield2.448%Jan 8, 2025Real yield2.519%Jan 15, 2025Real yield2.498%Jan 23, 2025Real yield2.464%Jan 30, 2025Real yield2.382%Feb 6, 2025Real yield2.266%Feb 13, 2025Real yield2.347%Feb 21, 2025Real yield2.312%Feb 28, 2025Real yield2.207%Mar 7, 2025Real yield2.333%Mar 14, 2025Real yield2.354%Mar 21, 2025Real yield2.323%Mar 28, 2025Real yield2.352%Apr 4, 2025Real yield2.266%Apr 11, 2025Real yield2.688%Apr 21, 2025Real yield2.683%Apr 28, 2025Real yield2.496%May 5, 2025Real yield2.582%May 12, 2025Real yield2.639%May 19, 2025Real yield2.599%May 27, 2025Real yield2.648%Jun 3, 2025Real yield2.678%Jun 10, 2025Real yield2.665%Jun 17, 2025Real yield2.606%Jun 25, 2025Real yield2.581%Jul 2, 2025Real yield2.564%Jul 10, 2025Real yield2.589%Jul 17, 2025Real yield2.668%Jul 24, 2025Real yield2.641%Jul 31, 2025Real yield2.638%Aug 7, 2025Real yield2.582%Aug 14, 2025Real yield2.628%Aug 21, 2025Real yield2.677%Aug 28, 2025Real yield2.632%Sep 5, 2025Real yield2.551%Sep 12, 2025Real yield2.455%Sep 19, 2025Real yield2.504%Sep 26, 2025Real yield2.540%Oct 3, 2025Real yield2.503%Oct 10, 2025Real yield2.431%Oct 20, 2025Real yield2.410%Oct 27, 2025Real yield2.372%Nov 3, 2025Real yield2.485%Nov 10, 2025Real yield2.496%Nov 18, 2025Real yield2.534%Nov 25, 2025Real yield2.502%Dec 3, 2025Real yield2.536%Dec 10, 2025Real yield2.567%Dec 17, 2025Real yield2.629%Dec 24, 2025Real yield2.601%Jan 2, 2026Real yield2.641%Jan 9, 2026Real yield2.596%Jan 16, 2026Real yield2.593%Jan 26, 2026Real yield2.556%Feb 2, 2026Real yield2.660%Feb 9, 2026Real yield2.599%Feb 17, 2026Real yield2.484%Feb 24, 2026Real yield2.506%Mar 3, 2026Real yield2.505%Mar 10, 2026Real yield2.590%Mar 17, 2026Real yield2.608%Mar 24, 2026Real yield2.739%Mar 31, 2026Real yield2.702%Apr 7, 2026Real yield2.685%Apr 14, 2026Real yield2.641%Apr 21, 2026Real yield2.669%Apr 28, 2026Real yield2.700%May 5, 2026Real yield2.707%May 12, 2026Real yield2.755%May 19, 2026Real yield2.863%May 27, 2026Real yield2.737%Jun 3, 2026Real yield2.734%Jun 10, 2026Real yield2.790%Jun 17, 2026Real yield2.735%Jun 25, 2026Real yield2.692%Jul 2, 2026Real yield2.809%Jul 10, 2026Real yield2.881%Jul 17, 2026Real yield2.891%Jul 24, 2026Real yield2.988%Jul 31, 2026Real yield3.066%Aug 7, 2026Real yield2.997%Aug 14, 2026Real yield3.036%Aug 21, 2026Real yield3.033%Aug 28, 2026Real yield2.980%Sep 4, 2026Real yield2.985%Sep 14, 2026Real yield3.074%Sep 21, 2026Real yield3.039%Sep 28, 2026Real yield3.308%Oct 5, 2026Real yield3.407%Oct 13, 2026Real yield3.316%Oct 20, 2026Real yield3.190%Oct 27, 2026Real yield3.079%Nov 3, 2026Real yield3.122%Nov 9, 2026Real yield3.115%

Price history

1,175 trading days to Nov 9, 2026

406080100120Feb 28, 2022Nov 9, 2026Feb 28, 2022Close107.375Mar 7, 2022Close111.781Mar 14, 2022Close108.188Mar 21, 2022Close103.688Mar 28, 2022Close103.125Apr 4, 2022Close103.281Apr 11, 2022Close95.656Apr 19, 2022Close92.625Apr 26, 2022Close93.906May 3, 2022Close89.813May 10, 2022Close85.125May 17, 2022Close85.375May 24, 2022Close86.125Jun 1, 2022Close85.094Jun 8, 2022Close86.156Jun 15, 2022Close80.531Jun 23, 2022Close81.813Jun 30, 2022Close79.219Jul 8, 2022Close76.781Jul 15, 2022Close80.531Jul 22, 2022Close81.281Jul 29, 2022Close83.938Aug 5, 2022Close81.438Aug 12, 2022Close79.625Aug 19, 2022Close80.094Aug 26, 2022Close80.563Sep 2, 2022Close77.063Sep 12, 2022Close72.875Sep 19, 2022Close71.500Sep 26, 2022Close67.094Oct 3, 2022Close65.500Oct 11, 2022Close62.969Oct 18, 2022Close63.406Oct 25, 2022Close62.688Nov 1, 2022Close64.688Nov 8, 2022Close62.906Nov 16, 2022Close67.156Nov 23, 2022Close68.750Dec 1, 2022Close71.563Dec 8, 2022Close74.719Dec 15, 2022Close70.813Dec 22, 2022Close66.875Dec 30, 2022Close64.344Jan 9, 2023Close69.188Jan 17, 2023Close68.063Jan 24, 2023Close70.563Jan 31, 2023Close68.688Feb 7, 2023Close68.063Feb 14, 2023Close66.969Feb 22, 2023Close66.156Mar 1, 2023Close65.938Mar 8, 2023Close65.844Mar 15, 2023Close69.313Mar 22, 2023Close69.563Mar 29, 2023Close68.156Apr 5, 2023Close70.375Apr 12, 2023Close70.438Apr 19, 2023Close67.594Apr 26, 2023Close68.844May 3, 2023Close68.219May 10, 2023Close66.531May 17, 2023Close66.219May 24, 2023Close65.125Jun 1, 2023Close66.063Jun 8, 2023Close65.563Jun 15, 2023Close65.969Jun 23, 2023Close66.719Jun 30, 2023Close66.188Jul 10, 2023Close63.094Jul 17, 2023Close65.375Jul 24, 2023Close66.469Jul 31, 2023Close63.750Aug 7, 2023Close61.375Aug 14, 2023Close60.000Aug 21, 2023Close57.719Aug 28, 2023Close59.906Sep 5, 2023Close58.125Sep 12, 2023Close59.344Sep 19, 2023Close58.375Sep 26, 2023Close54.594Oct 3, 2023Close52.000Oct 11, 2023Close54.625Oct 18, 2023Close52.250Oct 25, 2023Close51.469Nov 1, 2023Close53.250Nov 8, 2023Close57.375Nov 15, 2023Close55.656Nov 22, 2023Close56.906Nov 30, 2023Close56.656Dec 7, 2023Close59.781Dec 14, 2023Close63.156Dec 21, 2023Close62.250Dec 29, 2023Close61.531Jan 8, 2024Close60.469Jan 16, 2024Close59.625Jan 23, 2024Close58.688Jan 30, 2024Close59.406Feb 6, 2024Close59.000Feb 13, 2024Close56.844Feb 21, 2024Close57.063Feb 28, 2024Close58.188Mar 6, 2024Close60.500Mar 13, 2024Close58.656Mar 20, 2024Close57.313Mar 27, 2024Close58.594Apr 4, 2024Close57.406Apr 11, 2024Close55.219Apr 18, 2024Close54.188Apr 25, 2024Close53.969May 2, 2024Close54.719May 9, 2024Close56.375May 16, 2024Close57.344May 23, 2024Close56.375May 31, 2024Close55.969Jun 7, 2024Close56.875Jun 14, 2024Close58.750Jun 24, 2024Close58.469Jul 1, 2024Close55.813Jul 9, 2024Close57.563Jul 16, 2024Close59.375Jul 23, 2024Close57.750Jul 30, 2024Close58.500Aug 6, 2024Close60.281Aug 13, 2024Close60.313Aug 20, 2024Close61.313Aug 27, 2024Close61.531Sep 4, 2024Close61.531Sep 11, 2024Close62.719Sep 18, 2024Close63.063Sep 25, 2024Close62.000Oct 2, 2024Close62.438Oct 9, 2024Close60.188Oct 17, 2024Close59.500Oct 24, 2024Close58.469Oct 31, 2024Close58.844Nov 7, 2024Close57.938Nov 15, 2024Close56.625Nov 22, 2024Close56.875Dec 2, 2024Close59.031Dec 9, 2024Close58.625Dec 16, 2024Close56.469Dec 23, 2024Close54.281Dec 31, 2024Close54.156Jan 8, 2025Close53.188Jan 15, 2025Close53.500Jan 23, 2025Close54.000Jan 30, 2025Close55.188Feb 6, 2025Close56.906Feb 13, 2025Close55.750Feb 21, 2025Close56.281Feb 28, 2025Close57.875Mar 7, 2025Close56.031Mar 14, 2025Close55.750Mar 21, 2025Close56.219Mar 28, 2025Close55.813Apr 4, 2025Close57.094Apr 11, 2025Close51.219Apr 21, 2025Close51.313Apr 28, 2025Close53.875May 5, 2025Close52.719May 12, 2025Close51.969May 19, 2025Close52.531May 27, 2025Close51.906Jun 3, 2025Close51.531Jun 10, 2025Close51.719Jun 17, 2025Close52.531Jun 25, 2025Close52.906Jul 2, 2025Close53.156Jul 10, 2025Close52.844Jul 17, 2025Close51.813Jul 24, 2025Close52.188Jul 31, 2025Close52.250Aug 7, 2025Close53.031Aug 14, 2025Close52.438Aug 21, 2025Close51.813Aug 28, 2025Close52.438Sep 5, 2025Close53.563Sep 12, 2025Close54.906Sep 19, 2025Close54.250Sep 26, 2025Close53.781Oct 3, 2025Close54.313Oct 10, 2025Close55.344Oct 20, 2025Close55.656Oct 27, 2025Close56.219Nov 3, 2025Close54.656Nov 10, 2025Close54.531Nov 18, 2025Close54.031Nov 25, 2025Close54.500Dec 3, 2025Close54.063Dec 10, 2025Close53.656Dec 17, 2025Close52.844Dec 24, 2025Close53.250Jan 2, 2026Close52.750Jan 9, 2026Close53.375Jan 16, 2026Close53.438Jan 26, 2026Close53.969Feb 2, 2026Close52.594Feb 9, 2026Close53.438Feb 17, 2026Close55.031Feb 24, 2026Close54.750Mar 3, 2026Close54.781Mar 10, 2026Close53.656Mar 17, 2026Close53.438Mar 24, 2026Close51.750Mar 31, 2026Close52.250Apr 7, 2026Close52.500Apr 14, 2026Close53.094Apr 21, 2026Close52.750Apr 28, 2026Close52.375May 5, 2026Close52.313May 12, 2026Close51.719May 19, 2026Close50.375May 27, 2026Close52.000Jun 3, 2026Close52.063Jun 10, 2026Close51.375Jun 17, 2026Close52.094Jun 25, 2026Close52.688Jul 2, 2026Close51.219Jul 10, 2026Close50.344Jul 17, 2026Close50.250Jul 24, 2026Close49.094Jul 31, 2026Close48.188Aug 7, 2026Close49.031Aug 14, 2026Close48.594Aug 21, 2026Close48.656Aug 28, 2026Close49.313Sep 4, 2026Close49.281Sep 14, 2026Close48.250Sep 21, 2026Close48.688Sep 28, 2026Close45.625Oct 5, 2026Close44.563Oct 13, 2026Close45.594Oct 20, 2026Close47.031Oct 27, 2026Close48.344Nov 3, 2026Close47.875Nov 9, 2026Close47.969
The most recent 20 trading days of prices for 912810TE8.
DateBidOfferClose
Nov 9, 202648.03148.09447.969
Nov 6, 202648.34448.42248.188
Nov 5, 202648.25048.32848.281
Nov 4, 202647.68847.76648.031
Nov 3, 202648.03148.10947.875
Nov 2, 202648.59448.65648.156
Oct 30, 202648.12548.17247.969
Oct 29, 202648.21948.28148.125
Oct 28, 202648.09448.15647.719
Oct 27, 202648.25048.31348.344
Oct 26, 202648.12548.18848.094
Oct 23, 202648.18848.25047.969
Oct 22, 202647.84447.92248.375
Oct 21, 202647.21947.29747.156
Oct 20, 202646.93847.01647.031
Oct 19, 202646.68846.75046.375
Oct 16, 202647.12547.21947.031
Oct 15, 202646.90647.00046.813
Oct 14, 202645.65645.73446.063
Oct 13, 202645.62545.70345.594

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.

2 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 912810TE8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 17, 2022Feb 28, 2022New issue$9.0bn$10.5bn2.17x0.195%
Aug 18, 2022Aug 31, 2022Reopening$8.0bn$9.0bn2.69x0.920%

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.