Treasury bond

912810TR9 · 3.625% due May 15, 2053

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

Statement of August 31, 2026

Amount outstanding
$62.59bn
Held stripped
$19.50bn
Share stripped
31.16%

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
5.424%
Modified duration
15.053 yr
DV01
0.1143
Convexity
324.535
Dirty price
75.953

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 15.205 years against a modified duration of 15.053.

Against the fitted curve

Priced 0.5 bp rich to the curve on that day, 5.42 cents per 100 of face.

That is 0.64 standard deviations from its own typical residual.

Yield to maturity, 833 observations

3.75%4.00%4.25%4.50%4.75%5.00%5.25%5.50%May 15, 2023Sep 10, 2026May 15, 2023Yield to maturity3.838%Jun 12, 2023Yield to maturity3.871%Jul 11, 2023Yield to maturity4.021%Aug 7, 2023Yield to maturity4.264%Sep 1, 2023Yield to maturity4.295%Sep 29, 2023Yield to maturity4.733%Oct 27, 2023Yield to maturity5.028%Nov 24, 2023Yield to maturity4.620%Dec 21, 2023Yield to maturity4.053%Jan 22, 2024Yield to maturity4.345%Feb 16, 2024Yield to maturity4.474%Mar 15, 2024Yield to maturity4.454%Apr 11, 2024Yield to maturity4.665%May 8, 2024Yield to maturity4.653%Jun 5, 2024Yield to maturity4.462%Jul 3, 2024Yield to maturity4.550%Jul 31, 2024Yield to maturity4.379%Aug 27, 2024Yield to maturity4.163%Sep 24, 2024Yield to maturity4.124%Oct 22, 2024Yield to maturity4.516%Nov 19, 2024Yield to maturity4.621%Dec 17, 2024Yield to maturity4.631%Jan 15, 2025Yield to maturity4.918%Feb 12, 2025Yield to maturity4.874%Mar 12, 2025Yield to maturity4.690%Apr 8, 2025Yield to maturity4.768%May 5, 2025Yield to maturity4.883%Jun 2, 2025Yield to maturity5.050%Jun 30, 2025Yield to maturity4.829%Jul 28, 2025Yield to maturity5.007%Aug 22, 2025Yield to maturity4.924%Sep 19, 2025Yield to maturity4.785%Oct 17, 2025Yield to maturity4.634%Nov 14, 2025Yield to maturity4.791%Dec 12, 2025Yield to maturity4.905%Jan 12, 2026Yield to maturity4.880%Feb 9, 2026Yield to maturity4.892%Mar 9, 2026Yield to maturity4.772%Apr 3, 2026Yield to maturity4.969%Apr 30, 2026Yield to maturity5.036%May 28, 2026Yield to maturity5.043%Jun 25, 2026Yield to maturity4.914%Jul 23, 2026Yield to maturity5.230%Aug 19, 2026Yield to maturity5.253%Sep 10, 2026Yield to maturity5.424%

Price history

833 trading days to Sep 10, 2026

707580859095100May 15, 2023Sep 10, 2026May 15, 2023Close96.219Jun 12, 2023Close95.656Jul 11, 2023Close93.156Aug 7, 2023Close89.281Sep 1, 2023Close88.813Sep 29, 2023Close82.438Oct 27, 2023Close78.531Nov 24, 2023Close84.063Dec 21, 2023Close92.688Jan 22, 2024Close88.125Feb 16, 2024Close86.219Mar 15, 2024Close86.531Apr 11, 2024Close83.531May 8, 2024Close83.719Jun 5, 2024Close86.469Jul 3, 2024Close85.219Jul 31, 2024Close87.719Aug 27, 2024Close91.031Sep 24, 2024Close91.656Oct 22, 2024Close85.781Nov 19, 2024Close84.313Dec 17, 2024Close84.188Jan 15, 2025Close80.344Feb 12, 2025Close80.938Mar 12, 2025Close83.438Apr 8, 2025Close82.406May 5, 2025Close80.906Jun 2, 2025Close78.781Jun 30, 2025Close81.656Jul 28, 2025Close79.375Aug 22, 2025Close80.469Sep 19, 2025Close82.313Oct 17, 2025Close84.375Nov 14, 2025Close82.281Dec 12, 2025Close80.813Jan 12, 2026Close81.156Feb 9, 2026Close81.031Mar 9, 2026Close82.625Apr 3, 2026Close80.094Apr 30, 2026Close79.281May 28, 2026Close79.219Jun 25, 2026Close80.875Jul 23, 2026Close77.000Aug 19, 2026Close76.750Sep 10, 2026Close74.781
The most recent 20 trading days of prices for 912810TR9.
DateBidOfferClose
Sep 10, 202675.12575.09474.781
Sep 9, 202675.65675.62575.844
Sep 8, 202676.26676.25076.125
Sep 4, 202676.29776.28176.250
Sep 3, 202676.39176.37576.188
Sep 2, 202675.93875.90675.938
Sep 1, 202676.25076.21975.938
Aug 31, 202676.06376.03176.188
Aug 28, 202677.00076.96976.563
Aug 27, 202677.06377.03176.875
Aug 26, 202677.01677.00077.000
Aug 25, 202677.04777.03177.125
Aug 24, 202676.59476.56376.406
Aug 21, 202675.96975.93875.844
Aug 20, 202676.17276.15676.344
Aug 19, 202676.65676.62576.750
Aug 18, 202675.48475.46975.625
Aug 17, 202675.65675.62575.344
Aug 14, 202675.89175.87575.969
Aug 13, 202676.51676.50076.500

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 912810TR9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 11, 2023May 15, 2023New issue$21.0bn$26.7bn2.43x3.741%
Jun 13, 2023Jun 15, 2023Reopening$18.0bn$18.0bn2.52x3.908%
Jul 13, 2023Jul 17, 2023Reopening$18.0bn$18.0bn2.43x3.910%

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.