Treasury bond

912810TL2 · 4% due November 15, 2052

Original term
30-Year
Maturity
Nov 15, 2052
Coupon
4.000%
Pays
Semi-Annual
Dated
Nov 15, 2022
First coupon
May 15, 2023
Priced through
Sep 30, 2026
Analyzed through
Sep 30, 2026

Statement of August 31, 2026

Amount outstanding
$64.34bn
Held stripped
$13.58bn
Share stripped
21.11%

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 30, 2026

Yield to maturity
5.704%
Modified duration
14.282 yr
DV01
0.1121
Convexity
2.97
Dirty price
78.511

Where its rate sensitivity sits

<.01
0.01
0.04
0.09
0.21
0.39
0.64
1.22
1.64
1.61
6.89
1.73
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 12 of twelve buckets, summing to 14.468 years against a modified duration of 14.282.

Against the fitted curve

Priced 0.2 bp cheap to the curve on that day, 2.27 cents per 100 of face.

That is 1.23 standard deviations from its own typical residual.

Yield to maturity, 971 observations

3.00%3.50%4.00%4.50%5.00%5.50%6.00%Nov 15, 2022Sep 30, 2026Nov 15, 2022Yield to maturity3.977%Nov 22, 2022Yield to maturity3.831%Nov 30, 2022Yield to maturity3.800%Dec 7, 2022Yield to maturity3.425%Dec 14, 2022Yield to maturity3.531%Dec 21, 2022Yield to maturity3.747%Dec 29, 2022Yield to maturity3.925%Jan 6, 2023Yield to maturity3.672%Jan 13, 2023Yield to maturity3.616%Jan 23, 2023Yield to maturity3.687%Jan 30, 2023Yield to maturity3.660%Feb 6, 2023Yield to maturity3.669%Feb 13, 2023Yield to maturity3.775%Feb 21, 2023Yield to maturity3.975%Feb 28, 2023Yield to maturity3.921%Mar 7, 2023Yield to maturity3.875%Mar 14, 2023Yield to maturity3.763%Mar 21, 2023Yield to maturity3.720%Mar 28, 2023Yield to maturity3.761%Apr 4, 2023Yield to maturity3.585%Apr 11, 2023Yield to maturity3.609%Apr 18, 2023Yield to maturity3.779%Apr 25, 2023Yield to maturity3.636%May 2, 2023Yield to maturity3.703%May 9, 2023Yield to maturity3.838%May 16, 2023Yield to maturity3.861%May 23, 2023Yield to maturity3.951%May 31, 2023Yield to maturity3.852%Jun 7, 2023Yield to maturity3.944%Jun 14, 2023Yield to maturity3.892%Jun 22, 2023Yield to maturity3.873%Jun 29, 2023Yield to maturity3.910%Jul 7, 2023Yield to maturity4.045%Jul 14, 2023Yield to maturity3.920%Jul 21, 2023Yield to maturity3.903%Jul 28, 2023Yield to maturity4.020%Aug 4, 2023Yield to maturity4.201%Aug 11, 2023Yield to maturity4.280%Aug 18, 2023Yield to maturity4.387%Aug 25, 2023Yield to maturity4.302%Sep 1, 2023Yield to maturity4.298%Sep 11, 2023Yield to maturity4.379%Sep 18, 2023Yield to maturity4.403%Sep 25, 2023Yield to maturity4.681%Oct 2, 2023Yield to maturity4.819%Oct 10, 2023Yield to maturity4.857%Oct 17, 2023Yield to maturity4.943%Oct 24, 2023Yield to maturity4.971%Oct 31, 2023Yield to maturity5.048%Nov 7, 2023Yield to maturity4.755%Nov 14, 2023Yield to maturity4.643%Nov 21, 2023Yield to maturity4.603%Nov 29, 2023Yield to maturity4.468%Dec 6, 2023Yield to maturity4.255%Dec 13, 2023Yield to maturity4.228%Dec 20, 2023Yield to maturity4.022%Dec 28, 2023Yield to maturity4.014%Jan 5, 2024Yield to maturity4.241%Jan 12, 2024Yield to maturity4.232%Jan 22, 2024Yield to maturity4.354%Jan 29, 2024Yield to maturity4.340%Feb 5, 2024Yield to maturity4.376%Feb 12, 2024Yield to maturity4.398%Feb 20, 2024Yield to maturity4.474%Feb 27, 2024Yield to maturity4.472%Mar 5, 2024Yield to maturity4.297%Mar 12, 2024Yield to maturity4.341%Mar 19, 2024Yield to maturity4.470%Mar 26, 2024Yield to maturity4.422%Apr 2, 2024Yield to maturity4.527%Apr 9, 2024Yield to maturity4.514%Apr 16, 2024Yield to maturity4.791%Apr 23, 2024Yield to maturity4.748%Apr 30, 2024Yield to maturity4.807%May 7, 2024Yield to maturity4.623%May 14, 2024Yield to maturity4.617%May 21, 2024Yield to maturity4.572%May 29, 2024Yield to maturity4.751%Jun 5, 2024Yield to maturity4.462%Jun 12, 2024Yield to maturity4.493%Jun 20, 2024Yield to maturity4.411%Jun 27, 2024Yield to maturity4.452%Jul 5, 2024Yield to maturity4.494%Jul 12, 2024Yield to maturity4.416%Jul 19, 2024Yield to maturity4.477%Jul 26, 2024Yield to maturity4.476%Aug 2, 2024Yield to maturity4.132%Aug 9, 2024Yield to maturity4.258%Aug 16, 2024Yield to maturity4.188%Aug 23, 2024Yield to maturity4.134%Aug 30, 2024Yield to maturity4.233%Sep 9, 2024Yield to maturity4.041%Sep 16, 2024Yield to maturity3.979%Sep 23, 2024Yield to maturity4.126%Sep 30, 2024Yield to maturity4.173%Oct 7, 2024Yield to maturity4.340%Oct 15, 2024Yield to maturity4.345%Oct 22, 2024Yield to maturity4.517%Oct 29, 2024Yield to maturity4.554%Nov 5, 2024Yield to maturity4.478%Nov 13, 2024Yield to maturity4.683%Nov 20, 2024Yield to maturity4.644%Nov 27, 2024Yield to maturity4.485%Dec 5, 2024Yield to maturity4.378%Dec 12, 2024Yield to maturity4.602%Dec 19, 2024Yield to maturity4.794%Dec 27, 2024Yield to maturity4.865%Jan 6, 2025Yield to maturity4.897%Jan 13, 2025Yield to maturity5.016%Jan 21, 2025Yield to maturity4.841%Jan 28, 2025Yield to maturity4.832%Feb 4, 2025Yield to maturity4.798%Feb 11, 2025Yield to maturity4.801%Feb 19, 2025Yield to maturity4.817%Feb 26, 2025Yield to maturity4.555%Mar 5, 2025Yield to maturity4.630%Mar 12, 2025Yield to maturity4.689%Mar 19, 2025Yield to maturity4.611%Mar 26, 2025Yield to maturity4.745%Apr 2, 2025Yield to maturity4.596%Apr 9, 2025Yield to maturity4.774%Apr 16, 2025Yield to maturity4.797%Apr 23, 2025Yield to maturity4.882%Apr 30, 2025Yield to maturity4.711%May 7, 2025Yield to maturity4.819%May 14, 2025Yield to maturity5.025%May 21, 2025Yield to maturity5.128%May 29, 2025Yield to maturity4.976%Jun 5, 2025Yield to maturity4.939%Jun 12, 2025Yield to maturity4.893%Jun 20, 2025Yield to maturity4.940%Jun 27, 2025Yield to maturity4.894%Jul 7, 2025Yield to maturity4.971%Jul 14, 2025Yield to maturity5.009%Jul 21, 2025Yield to maturity4.981%Jul 28, 2025Yield to maturity5.002%Aug 4, 2025Yield to maturity4.829%Aug 11, 2025Yield to maturity4.877%Aug 18, 2025Yield to maturity4.973%Aug 25, 2025Yield to maturity4.927%Sep 2, 2025Yield to maturity5.009%Sep 9, 2025Yield to maturity4.742%Sep 16, 2025Yield to maturity4.676%Sep 23, 2025Yield to maturity4.761%Sep 30, 2025Yield to maturity4.764%Oct 7, 2025Yield to maturity4.759%Oct 15, 2025Yield to maturity4.664%Oct 22, 2025Yield to maturity4.571%Oct 29, 2025Yield to maturity4.638%Nov 5, 2025Yield to maturity4.770%Nov 13, 2025Yield to maturity4.741%Nov 20, 2025Yield to maturity4.761%Nov 28, 2025Yield to maturity4.708%Dec 5, 2025Yield to maturity4.828%Dec 12, 2025Yield to maturity4.895%Dec 19, 2025Yield to maturity4.863%Dec 29, 2025Yield to maturity4.836%Jan 6, 2026Yield to maturity4.898%Jan 13, 2026Yield to maturity4.862%Jan 21, 2026Yield to maturity4.904%Jan 28, 2026Yield to maturity4.890%Feb 4, 2026Yield to maturity4.946%Feb 11, 2026Yield to maturity4.849%Feb 19, 2026Yield to maturity4.738%Feb 26, 2026Yield to maturity4.700%Mar 5, 2026Yield to maturity4.781%Mar 12, 2026Yield to maturity4.923%Mar 19, 2026Yield to maturity4.876%Mar 26, 2026Yield to maturity4.985%Apr 2, 2026Yield to maturity4.931%Apr 9, 2026Yield to maturity4.945%Apr 16, 2026Yield to maturity4.972%Apr 23, 2026Yield to maturity4.965%Apr 30, 2026Yield to maturity5.030%May 7, 2026Yield to maturity5.021%May 14, 2026Yield to maturity5.072%May 21, 2026Yield to maturity5.151%May 29, 2026Yield to maturity5.044%Jun 5, 2026Yield to maturity5.068%Jun 12, 2026Yield to maturity5.028%Jun 22, 2026Yield to maturity5.004%Jun 29, 2026Yield to maturity4.914%Jul 7, 2026Yield to maturity5.104%Jul 14, 2026Yield to maturity5.141%Jul 21, 2026Yield to maturity5.192%Jul 28, 2026Yield to maturity5.155%Aug 4, 2026Yield to maturity5.250%Aug 11, 2026Yield to maturity5.304%Aug 18, 2026Yield to maturity5.351%Aug 25, 2026Yield to maturity5.221%Sep 1, 2026Yield to maturity5.324%Sep 9, 2026Yield to maturity5.335%Sep 16, 2026Yield to maturity5.413%Sep 23, 2026Yield to maturity5.466%Sep 30, 2026Yield to maturity5.704%

Price history

971 trading days to Sep 30, 2026

708090100110120Nov 15, 2022Sep 30, 2026Nov 15, 2022Close100.406Nov 22, 2022Close103.000Nov 30, 2022Close103.563Dec 7, 2022Close110.719Dec 14, 2022Close108.625Dec 21, 2022Close104.531Dec 29, 2022Close101.313Jan 6, 2023Close105.906Jan 13, 2023Close106.969Jan 23, 2023Close105.625Jan 30, 2023Close106.125Feb 6, 2023Close105.969Feb 13, 2023Close104.000Feb 21, 2023Close100.438Feb 28, 2023Close101.375Mar 7, 2023Close102.188Mar 14, 2023Close104.219Mar 21, 2023Close105.000Mar 28, 2023Close104.250Apr 4, 2023Close107.531Apr 11, 2023Close107.063Apr 18, 2023Close103.906Apr 25, 2023Close106.563May 2, 2023Close105.313May 9, 2023Close102.844May 16, 2023Close102.438May 23, 2023Close100.844May 31, 2023Close102.594Jun 7, 2023Close100.969Jun 14, 2023Close101.875Jun 22, 2023Close102.219Jun 29, 2023Close101.563Jul 7, 2023Close99.219Jul 14, 2023Close101.375Jul 21, 2023Close101.688Jul 28, 2023Close99.656Aug 4, 2023Close96.625Aug 11, 2023Close95.344Aug 18, 2023Close93.656Aug 25, 2023Close95.000Sep 1, 2023Close95.063Sep 11, 2023Close93.781Sep 18, 2023Close93.406Sep 25, 2023Close89.219Oct 2, 2023Close87.250Oct 10, 2023Close86.719Oct 17, 2023Close85.531Oct 24, 2023Close85.156Oct 31, 2023Close84.125Nov 7, 2023Close88.188Nov 14, 2023Close89.813Nov 21, 2023Close90.406Nov 29, 2023Close92.438Dec 6, 2023Close95.781Dec 13, 2023Close96.219Dec 20, 2023Close99.625Dec 28, 2023Close99.750Jan 5, 2024Close96.000Jan 12, 2024Close96.156Jan 22, 2024Close94.219Jan 29, 2024Close94.438Feb 5, 2024Close93.875Feb 12, 2024Close93.531Feb 20, 2024Close92.375Feb 27, 2024Close92.406Mar 5, 2024Close95.125Mar 12, 2024Close94.438Mar 19, 2024Close92.438Mar 26, 2024Close93.188Apr 2, 2024Close91.594Apr 9, 2024Close91.781Apr 16, 2024Close87.750Apr 23, 2024Close88.375Apr 30, 2024Close87.531May 7, 2024Close90.188May 14, 2024Close90.281May 21, 2024Close90.938May 29, 2024Close88.344Jun 5, 2024Close92.594Jun 12, 2024Close92.125Jun 20, 2024Close93.375Jun 27, 2024Close92.750Jul 5, 2024Close92.125Jul 12, 2024Close93.313Jul 19, 2024Close92.375Jul 26, 2024Close92.406Aug 2, 2024Close97.813Aug 9, 2024Close95.781Aug 16, 2024Close96.906Aug 23, 2024Close97.781Aug 30, 2024Close96.188Sep 9, 2024Close99.313Sep 16, 2024Close100.344Sep 23, 2024Close97.906Sep 30, 2024Close97.156Oct 7, 2024Close94.500Oct 15, 2024Close94.438Oct 22, 2024Close91.813Oct 29, 2024Close91.281Nov 5, 2024Close92.406Nov 13, 2024Close89.406Nov 20, 2024Close89.969Nov 27, 2024Close92.313Dec 5, 2024Close93.938Dec 12, 2024Close90.594Dec 19, 2024Close87.844Dec 27, 2024Close86.875Jan 6, 2025Close86.438Jan 13, 2025Close84.844Jan 21, 2025Close87.219Jan 28, 2025Close87.344Feb 4, 2025Close87.813Feb 11, 2025Close87.781Feb 19, 2025Close87.563Feb 26, 2025Close91.313Mar 5, 2025Close90.219Mar 12, 2025Close89.375Mar 19, 2025Close90.500Mar 26, 2025Close88.594Apr 2, 2025Close90.719Apr 9, 2025Close88.188Apr 16, 2025Close87.875Apr 23, 2025Close86.719Apr 30, 2025Close89.094May 7, 2025Close87.594May 14, 2025Close84.813May 21, 2025Close83.469May 29, 2025Close85.469Jun 5, 2025Close85.969Jun 12, 2025Close86.594Jun 20, 2025Close85.969Jun 27, 2025Close86.594Jul 7, 2025Close85.563Jul 14, 2025Close85.063Jul 21, 2025Close85.438Jul 28, 2025Close85.156Aug 4, 2025Close87.500Aug 11, 2025Close86.844Aug 18, 2025Close85.563Aug 25, 2025Close86.188Sep 2, 2025Close85.094Sep 9, 2025Close88.719Sep 16, 2025Close89.656Sep 23, 2025Close88.469Sep 30, 2025Close88.438Oct 7, 2025Close88.500Oct 15, 2025Close89.844Oct 22, 2025Close91.188Oct 29, 2025Close90.219Nov 5, 2025Close88.375Nov 13, 2025Close88.781Nov 20, 2025Close88.500Nov 28, 2025Close89.250Dec 5, 2025Close87.594Dec 12, 2025Close86.688Dec 19, 2025Close87.125Dec 29, 2025Close87.500Jan 6, 2026Close86.656Jan 13, 2026Close87.156Jan 21, 2026Close86.594Jan 28, 2026Close86.781Feb 4, 2026Close86.031Feb 11, 2026Close87.344Feb 19, 2026Close88.875Feb 26, 2026Close89.406Mar 5, 2026Close88.281Mar 12, 2026Close86.375Mar 19, 2026Close87.000Mar 26, 2026Close85.563Apr 2, 2026Close86.281Apr 9, 2026Close86.094Apr 16, 2026Close85.750Apr 23, 2026Close85.844Apr 30, 2026Close85.000May 7, 2026Close85.125May 14, 2026Close84.469May 21, 2026Close83.469May 29, 2026Close84.844Jun 5, 2026Close84.531Jun 12, 2026Close85.063Jun 22, 2026Close85.375Jun 29, 2026Close86.563Jul 7, 2026Close84.094Jul 14, 2026Close83.625Jul 21, 2026Close83.000Jul 28, 2026Close83.469Aug 4, 2026Close82.281Aug 11, 2026Close81.625Aug 18, 2026Close81.063Aug 25, 2026Close82.656Sep 1, 2026Close81.406Sep 9, 2026Close81.281Sep 16, 2026Close80.344Sep 23, 2026Close79.719Sep 30, 2026Close77.000
The most recent 20 trading days of prices for 912810TL2.
DateBidOfferClose
Sep 30, 202677.14177.12577.000
Sep 29, 202677.31377.28177.469
Sep 28, 202677.76677.75077.875
Sep 25, 202678.29778.28178.625
Sep 24, 202679.12579.09478.875
Sep 23, 202679.98479.96979.719
Sep 22, 202681.03181.00081.094
Sep 21, 202681.04781.03181.094
Sep 18, 202680.56380.53180.563
Sep 17, 202681.07881.06381.156
Sep 16, 202680.51680.50080.344
Sep 15, 202680.20380.18880.188
Sep 14, 202680.45380.43880.469
Sep 11, 202680.73480.71980.344
Sep 10, 202680.51680.50080.188
Sep 9, 202681.09481.06381.281
Sep 8, 202681.76681.75081.594
Sep 4, 202681.78181.75081.750
Sep 3, 202681.89181.87581.688
Sep 2, 202681.39181.37581.406

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 912810TL2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 10, 2022Nov 15, 2022New issue$21.0bn$28.4bn2.42x4.080%
Dec 13, 2022Dec 15, 2022Reopening$18.0bn$18.0bn2.25x3.513%
Jan 12, 2023Jan 17, 2023Reopening$18.0bn$18.0bn2.45x3.585%

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.