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
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$64.34bn
Held stripped
$12.54bn
Share stripped
19.49%

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
5.324%
Modified duration
14.531 yr
DV01
0.1212
Convexity
3.05
Dirty price
83.414

Where its rate sensitivity sits

0.01
0.04
0.09
0.20
0.38
0.62
1.20
1.64
1.63
7.26
1.61
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 14.674 years against a modified duration of 14.531.

Against the fitted curve

Priced 0.6 bp rich to the curve on that day, 6.80 cents per 100 of face.

That is 0.17 standard deviations from its own typical residual.

Yield to maturity, 996 observations

3.0%3.5%4.0%4.5%5.0%5.5%6.0%Nov 15, 2022Nov 9, 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 3, 2024Yield to maturity4.531%Apr 10, 2024Yield to maturity4.656%Apr 17, 2024Yield to maturity4.725%Apr 24, 2024Yield to maturity4.794%May 1, 2024Yield to maturity4.754%May 8, 2024Yield to maturity4.657%May 15, 2024Yield to maturity4.536%May 22, 2024Yield to maturity4.566%May 30, 2024Yield to maturity4.703%Jun 6, 2024Yield to maturity4.446%Jun 13, 2024Yield to maturity4.419%Jun 21, 2024Yield to maturity4.415%Jun 28, 2024Yield to maturity4.535%Jul 8, 2024Yield to maturity4.483%Jul 15, 2024Yield to maturity4.481%Jul 22, 2024Yield to maturity4.500%Jul 29, 2024Yield to maturity4.445%Aug 5, 2024Yield to maturity4.090%Aug 12, 2024Yield to maturity4.224%Aug 19, 2024Yield to maturity4.147%Aug 26, 2024Yield to maturity4.143%Sep 3, 2024Yield to maturity4.163%Sep 10, 2024Yield to maturity4.003%Sep 17, 2024Yield to maturity3.994%Sep 24, 2024Yield to maturity4.126%Oct 1, 2024Yield to maturity4.115%Oct 8, 2024Yield to maturity4.355%Oct 16, 2024Yield to maturity4.333%Oct 23, 2024Yield to maturity4.541%Oct 30, 2024Yield to maturity4.524%Nov 6, 2024Yield to maturity4.650%Nov 14, 2024Yield to maturity4.631%Nov 21, 2024Yield to maturity4.666%Nov 29, 2024Yield to maturity4.429%Dec 6, 2024Yield to maturity4.386%Dec 13, 2024Yield to maturity4.669%Dec 20, 2024Yield to maturity4.766%Dec 30, 2024Yield to maturity4.820%Jan 7, 2025Yield to maturity4.964%Jan 14, 2025Yield to maturity5.028%Jan 22, 2025Yield to maturity4.861%Jan 29, 2025Yield to maturity4.837%Feb 5, 2025Yield to maturity4.686%Feb 12, 2025Yield to maturity4.883%Feb 20, 2025Yield to maturity4.797%Feb 27, 2025Yield to maturity4.608%Mar 6, 2025Yield to maturity4.643%Mar 13, 2025Yield to maturity4.652%Mar 20, 2025Yield to maturity4.607%Mar 27, 2025Yield to maturity4.783%Apr 3, 2025Yield to maturity4.541%Apr 10, 2025Yield to maturity4.918%Apr 17, 2025Yield to maturity4.852%Apr 25, 2025Yield to maturity4.784%May 2, 2025Yield to maturity4.837%May 9, 2025Yield to maturity4.896%May 16, 2025Yield to maturity4.945%May 23, 2025Yield to maturity5.092%Jun 2, 2025Yield to maturity5.045%Jun 9, 2025Yield to maturity5.012%Jun 16, 2025Yield to maturity5.012%Jun 24, 2025Yield to maturity4.877%Jul 1, 2025Yield to maturity4.821%Jul 9, 2025Yield to maturity4.913%Jul 16, 2025Yield to maturity5.057%Jul 23, 2025Yield to maturity4.993%Jul 30, 2025Yield to maturity4.935%Aug 6, 2025Yield to maturity4.840%Aug 13, 2025Yield to maturity4.859%Aug 20, 2025Yield to maturity4.924%Aug 27, 2025Yield to maturity4.950%Sep 4, 2025Yield to maturity4.890%Sep 11, 2025Yield to maturity4.676%Sep 18, 2025Yield to maturity4.754%Sep 25, 2025Yield to maturity4.784%Oct 2, 2025Yield to maturity4.728%Oct 9, 2025Yield to maturity4.757%Oct 17, 2025Yield to maturity4.629%Oct 24, 2025Yield to maturity4.619%Oct 31, 2025Yield to maturity4.700%Nov 7, 2025Yield to maturity4.732%Nov 17, 2025Yield to maturity4.766%Nov 24, 2025Yield to maturity4.714%Dec 2, 2025Yield to maturity4.775%Dec 9, 2025Yield to maturity4.842%Dec 16, 2025Yield to maturity4.853%Dec 23, 2025Yield to maturity4.863%Dec 31, 2025Yield to maturity4.884%Jan 8, 2026Yield to maturity4.894%Jan 15, 2026Yield to maturity4.823%Jan 23, 2026Yield to maturity4.860%Jan 30, 2026Yield to maturity4.907%Feb 6, 2026Yield to maturity4.886%Feb 13, 2026Yield to maturity4.726%Feb 23, 2026Yield to maturity4.733%Mar 2, 2026Yield to maturity4.734%Mar 9, 2026Yield to maturity4.761%Mar 16, 2026Yield to maturity4.899%Mar 23, 2026Yield to maturity4.963%Mar 30, 2026Yield to maturity4.957%Apr 6, 2026Yield to maturity4.936%Apr 13, 2026Yield to maturity4.943%Apr 20, 2026Yield to maturity4.920%Apr 27, 2026Yield to maturity4.984%May 4, 2026Yield to maturity5.069%May 11, 2026Yield to maturity5.031%May 18, 2026Yield to maturity5.190%May 26, 2026Yield to maturity5.087%Jun 2, 2026Yield to maturity5.022%Jun 9, 2026Yield to maturity5.066%Jun 16, 2026Yield to maturity4.977%Jun 24, 2026Yield to maturity4.914%Jul 1, 2026Yield to maturity5.026%Jul 9, 2026Yield to maturity5.112%Jul 16, 2026Yield to maturity5.149%Jul 23, 2026Yield to maturity5.232%Jul 30, 2026Yield to maturity5.273%Aug 6, 2026Yield to maturity5.278%Aug 13, 2026Yield to maturity5.271%Aug 20, 2026Yield to maturity5.284%Aug 27, 2026Yield to maturity5.242%Sep 3, 2026Yield to maturity5.301%Sep 11, 2026Yield to maturity5.413%Sep 18, 2026Yield to maturity5.395%Sep 25, 2026Yield to maturity5.561%Oct 2, 2026Yield to maturity5.701%Oct 9, 2026Yield to maturity5.663%Oct 19, 2026Yield to maturity5.541%Oct 26, 2026Yield to maturity5.372%Nov 2, 2026Yield to maturity5.344%Nov 9, 2026Yield to maturity5.324%

Price history

996 trading days to Nov 9, 2026

708090100110120Nov 15, 2022Nov 9, 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 3, 2024Close91.531Apr 10, 2024Close89.688Apr 17, 2024Close88.688Apr 24, 2024Close87.719May 1, 2024Close88.281May 8, 2024Close89.688May 15, 2024Close91.469May 22, 2024Close91.031May 30, 2024Close89.031Jun 6, 2024Close92.844Jun 13, 2024Close93.250Jun 21, 2024Close93.313Jun 28, 2024Close91.500Jul 8, 2024Close92.281Jul 15, 2024Close92.313Jul 22, 2024Close92.031Jul 29, 2024Close92.875Aug 5, 2024Close98.500Aug 12, 2024Close96.313Aug 19, 2024Close97.563Aug 26, 2024Close97.625Sep 3, 2024Close97.313Sep 10, 2024Close99.938Sep 17, 2024Close100.094Sep 24, 2024Close97.906Oct 1, 2024Close98.094Oct 8, 2024Close94.281Oct 16, 2024Close94.625Oct 23, 2024Close91.469Oct 30, 2024Close91.719Nov 6, 2024Close89.875Nov 14, 2024Close90.156Nov 21, 2024Close89.656Nov 29, 2024Close93.156Dec 6, 2024Close93.813Dec 13, 2024Close89.625Dec 20, 2024Close88.250Dec 30, 2024Close87.500Jan 7, 2025Close85.531Jan 14, 2025Close84.688Jan 22, 2025Close86.938Jan 29, 2025Close87.281Feb 5, 2025Close89.406Feb 12, 2025Close86.656Feb 20, 2025Close87.844Feb 27, 2025Close90.531Mar 6, 2025Close90.031Mar 13, 2025Close89.906Mar 20, 2025Close90.563Mar 27, 2025Close88.063Apr 3, 2025Close91.531Apr 10, 2025Close86.219Apr 17, 2025Close87.125Apr 25, 2025Close88.063May 2, 2025Close87.344May 9, 2025Close86.531May 16, 2025Close85.875May 23, 2025Close83.938Jun 2, 2025Close84.563Jun 9, 2025Close85.000Jun 16, 2025Close85.000Jun 24, 2025Close86.813Jul 1, 2025Close87.594Jul 9, 2025Close86.344Jul 16, 2025Close84.438Jul 23, 2025Close85.281Jul 30, 2025Close86.063Aug 6, 2025Close87.344Aug 13, 2025Close87.094Aug 20, 2025Close86.219Aug 27, 2025Close85.875Sep 4, 2025Close86.688Sep 11, 2025Close89.656Sep 18, 2025Close88.563Sep 25, 2025Close88.156Oct 2, 2025Close88.938Oct 9, 2025Close88.531Oct 17, 2025Close90.344Oct 24, 2025Close90.500Oct 31, 2025Close89.344Nov 7, 2025Close88.906Nov 17, 2025Close88.438Nov 24, 2025Close89.156Dec 2, 2025Close88.313Dec 9, 2025Close87.406Dec 16, 2025Close87.250Dec 23, 2025Close87.125Dec 31, 2025Close86.844Jan 8, 2026Close86.719Jan 15, 2026Close87.688Jan 23, 2026Close87.188Jan 30, 2026Close86.563Feb 6, 2026Close86.844Feb 13, 2026Close89.031Feb 23, 2026Close88.938Mar 2, 2026Close88.938Mar 9, 2026Close88.563Mar 16, 2026Close86.688Mar 23, 2026Close85.844Mar 30, 2026Close85.938Apr 6, 2026Close86.219Apr 13, 2026Close86.125Apr 20, 2026Close86.438Apr 27, 2026Close85.594May 4, 2026Close84.500May 11, 2026Close85.000May 18, 2026Close82.969May 26, 2026Close84.281Jun 2, 2026Close85.125Jun 9, 2026Close84.563Jun 16, 2026Close85.719Jun 24, 2026Close86.563Jul 1, 2026Close85.094Jul 9, 2026Close84.000Jul 16, 2026Close83.531Jul 23, 2026Close82.500Jul 30, 2026Close82.000Aug 6, 2026Close81.938Aug 13, 2026Close82.031Aug 20, 2026Close81.875Aug 27, 2026Close82.406Sep 3, 2026Close81.688Sep 11, 2026Close80.344Sep 18, 2026Close80.563Sep 25, 2026Close78.625Oct 2, 2026Close77.031Oct 9, 2026Close77.469Oct 19, 2026Close78.875Oct 26, 2026Close80.875Nov 2, 2026Close81.219Nov 9, 2026Close81.469
The most recent 20 trading days of prices for 912810TL2.
DateBidOfferClose
Nov 9, 202681.46981.48481.469
Nov 6, 202681.56381.59481.531
Nov 5, 202681.59481.60981.625
Nov 4, 202680.96980.98481.250
Nov 3, 202680.93880.95380.781
Nov 2, 202681.59481.60981.219
Oct 30, 202680.78180.81380.813
Oct 29, 202680.81380.82880.813
Oct 28, 202680.65680.68880.094
Oct 27, 202680.93880.96981.000
Oct 26, 202680.90680.92280.875
Oct 23, 202680.81380.84480.688
Oct 22, 202680.65680.68881.188
Oct 21, 202679.68879.71979.563
Oct 20, 202679.56379.57879.563
Oct 19, 202679.15679.17278.875
Oct 16, 202679.71979.75079.563
Oct 15, 202679.56379.59479.500
Oct 14, 202677.87577.90678.406
Oct 13, 202677.93877.95377.938

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 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.