Treasury bond

912810TN8 · 3.625% due February 15, 2053

Original term
30-Year
Maturity
Feb 15, 2053
Coupon
3.625%
Pays
Semi-Annual
Dated
Feb 15, 2023
First coupon
Aug 15, 2023
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$65.98bn
Held stripped
$20.04bn
Share stripped
30.38%

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
5.426%
Modified duration
15.168 yr
DV01
0.1140
Convexity
324.787
Dirty price
75.141

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 12 of twelve buckets, summing to 15.323 years against a modified duration of 15.168.

Against the fitted curve

Priced 0.7 bp rich to the curve on that day, 7.97 cents per 100 of face.

That is 0.51 standard deviations from its own typical residual.

Yield to maturity, 895 observations

3.50%4.00%4.50%5.00%5.50%Feb 15, 2023Sep 10, 2026Feb 15, 2023Yield to maturity3.846%Mar 17, 2023Yield to maturity3.599%Apr 17, 2023Yield to maturity3.810%May 16, 2023Yield to maturity3.876%Jun 15, 2023Yield to maturity3.852%Jul 18, 2023Yield to maturity3.912%Aug 16, 2023Yield to maturity4.388%Sep 15, 2023Yield to maturity4.429%Oct 17, 2023Yield to maturity4.939%Nov 15, 2023Yield to maturity4.705%Dec 15, 2023Yield to maturity4.037%Jan 18, 2024Yield to maturity4.401%Feb 16, 2024Yield to maturity4.485%Mar 19, 2024Yield to maturity4.471%Apr 17, 2024Yield to maturity4.729%May 16, 2024Yield to maturity4.545%Jun 17, 2024Yield to maturity4.430%Jul 18, 2024Yield to maturity4.440%Aug 16, 2024Yield to maturity4.198%Sep 17, 2024Yield to maturity3.997%Oct 17, 2024Yield to maturity4.425%Nov 18, 2024Yield to maturity4.670%Dec 18, 2024Yield to maturity4.704%Jan 21, 2025Yield to maturity4.839%Feb 20, 2025Yield to maturity4.796%Mar 21, 2025Yield to maturity4.650%Apr 21, 2025Yield to maturity4.967%May 20, 2025Yield to maturity5.023%Jun 20, 2025Yield to maturity4.950%Jul 22, 2025Yield to maturity4.955%Aug 20, 2025Yield to maturity4.935%Sep 19, 2025Yield to maturity4.784%Oct 21, 2025Yield to maturity4.578%Nov 20, 2025Yield to maturity4.771%Dec 22, 2025Yield to maturity4.885%Jan 23, 2026Yield to maturity4.871%Feb 24, 2026Yield to maturity4.742%Mar 25, 2026Yield to maturity4.953%Apr 23, 2026Yield to maturity4.973%May 22, 2026Yield to maturity5.129%Jun 24, 2026Yield to maturity4.916%Jul 24, 2026Yield to maturity5.223%Aug 24, 2026Yield to maturity5.284%Sep 10, 2026Yield to maturity5.426%

Price history

895 trading days to Sep 10, 2026

707580859095100105Feb 15, 2023Sep 10, 2026Feb 15, 2023Close96.094Mar 17, 2023Close100.469Apr 17, 2023Close96.719May 16, 2023Close95.594Jun 15, 2023Close96.000Jul 18, 2023Close95.000Aug 16, 2023Close87.438Sep 15, 2023Close86.844Oct 17, 2023Close79.750Nov 15, 2023Close82.938Dec 15, 2023Close92.969Jan 18, 2024Close87.344Feb 16, 2024Close86.125Mar 19, 2024Close86.344Apr 17, 2024Close82.719May 16, 2024Close85.313Jun 17, 2024Close87.000Jul 18, 2024Close86.875Aug 16, 2024Close90.531Sep 17, 2024Close93.719Oct 17, 2024Close87.156Nov 18, 2024Close83.688Dec 18, 2024Close83.250Jan 21, 2025Close81.469Feb 20, 2025Close82.063Mar 21, 2025Close84.063Apr 21, 2025Close79.875May 20, 2025Close79.188Jun 20, 2025Close80.156Jul 22, 2025Close80.125Aug 20, 2025Close80.406Sep 19, 2025Close82.406Oct 21, 2025Close85.219Nov 20, 2025Close82.625Dec 22, 2025Close81.156Jan 23, 2026Close81.375Feb 24, 2026Close83.094Mar 25, 2026Close80.375Apr 23, 2026Close80.156May 22, 2026Close78.250Jun 24, 2026Close80.938Jul 24, 2026Close77.188Aug 24, 2026Close76.500Sep 10, 2026Close74.875
The most recent 20 trading days of prices for 912810TN8.
DateBidOfferClose
Sep 10, 202675.20375.18874.875
Sep 9, 202675.75075.71975.906
Sep 8, 202676.35976.34476.219
Sep 4, 202676.37576.34476.344
Sep 3, 202676.48476.46976.281
Sep 2, 202676.01676.00076.000
Sep 1, 202676.32876.31376.031
Aug 31, 202676.12576.09476.281
Aug 28, 202677.07877.06376.656
Aug 27, 202677.15677.12576.969
Aug 26, 202677.10977.09477.094
Aug 25, 202677.14177.12577.219
Aug 24, 202676.68876.65676.500
Aug 21, 202676.07876.06375.938
Aug 20, 202676.26676.25076.469
Aug 19, 202676.75076.71976.875
Aug 18, 202675.57875.56375.719
Aug 17, 202675.75075.71975.438
Aug 14, 202676.00075.96976.094
Aug 13, 202676.60976.59476.594

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 912810TN8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 9, 2023Feb 15, 2023New issue$21.0bn$29.2bn2.25x3.686%
Mar 9, 2023Mar 15, 2023Reopening$18.0bn$18.0bn2.35x3.877%
Apr 13, 2023Apr 17, 2023Reopening$18.0bn$19.2bn2.36x3.661%

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.