Treasury bond

912810TX6 · 4.25% due February 15, 2054

Original term
30-Year
Maturity
Feb 15, 2054
Coupon
4.250%
Pays
Semi-Annual
Dated
Feb 15, 2024
First coupon
Aug 15, 2024
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$71.20bn
Held stripped
$18.65bn
Share stripped
26.20%

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
5.409%
Modified duration
14.898 yr
DV01
0.1249
Convexity
321.291
Dirty price
83.843

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 15.042 years against a modified duration of 14.898.

Against the fitted curve

Priced 0.3 bp rich to the curve on that day, 4.14 cents per 100 of face.

That is 0.75 standard deviations from its own typical residual.

Yield to maturity, 644 observations

3.75%4.00%4.25%4.50%4.75%5.00%5.25%5.50%Feb 15, 2024Sep 10, 2026Feb 15, 2024Yield to maturity4.420%Mar 8, 2024Yield to maturity4.259%Mar 29, 2024Yield to maturity4.344%Apr 19, 2024Yield to maturity4.713%May 10, 2024Yield to maturity4.651%Jun 3, 2024Yield to maturity4.555%Jun 25, 2024Yield to maturity4.367%Jul 17, 2024Yield to maturity4.371%Aug 7, 2024Yield to maturity4.267%Aug 28, 2024Yield to maturity4.146%Sep 19, 2024Yield to maturity4.074%Oct 10, 2024Yield to maturity4.391%Nov 1, 2024Yield to maturity4.573%Nov 25, 2024Yield to maturity4.469%Dec 17, 2024Yield to maturity4.606%Jan 9, 2025Yield to maturity4.949%Jan 31, 2025Yield to maturity4.851%Feb 24, 2025Yield to maturity4.686%Mar 17, 2025Yield to maturity4.632%Apr 7, 2025Yield to maturity4.608%Apr 28, 2025Yield to maturity4.723%May 19, 2025Yield to maturity4.957%Jun 10, 2025Yield to maturity4.971%Jul 2, 2025Yield to maturity4.855%Jul 24, 2025Yield to maturity4.984%Aug 14, 2025Yield to maturity4.903%Sep 5, 2025Yield to maturity4.788%Sep 26, 2025Yield to maturity4.784%Oct 20, 2025Yield to maturity4.593%Nov 10, 2025Yield to maturity4.727%Dec 3, 2025Yield to maturity4.749%Dec 24, 2025Yield to maturity4.821%Jan 16, 2026Yield to maturity4.855%Feb 9, 2026Yield to maturity4.871%Mar 3, 2026Yield to maturity4.726%Mar 24, 2026Yield to maturity4.975%Apr 14, 2026Yield to maturity4.899%May 5, 2026Yield to maturity5.017%May 27, 2026Yield to maturity5.053%Jun 17, 2026Yield to maturity4.969%Jul 10, 2026Yield to maturity5.106%Jul 31, 2026Yield to maturity5.313%Aug 21, 2026Yield to maturity5.314%Sep 10, 2026Yield to maturity5.409%

Price history

644 trading days to Sep 10, 2026

80859095100105110Feb 15, 2024Sep 10, 2026Feb 15, 2024Close97.188Mar 8, 2024Close99.844Mar 29, 2024Close98.438Apr 19, 2024Close92.625May 10, 2024Close93.563Jun 3, 2024Close95.063Jun 25, 2024Close98.063Jul 17, 2024Close98.000Aug 7, 2024Close99.719Aug 28, 2024Close101.750Sep 19, 2024Close103.000Oct 10, 2024Close97.688Nov 1, 2024Close94.813Nov 25, 2024Close96.438Dec 17, 2024Close94.313Jan 9, 2025Close89.281Jan 31, 2025Close90.688Feb 24, 2025Close93.125Mar 17, 2025Close93.938Apr 7, 2025Close94.313Apr 28, 2025Close92.594May 19, 2025Close89.219Jun 10, 2025Close89.031Jul 2, 2025Close90.688Jul 24, 2025Close88.875Aug 14, 2025Close90.031Sep 5, 2025Close91.688Sep 26, 2025Close91.750Oct 20, 2025Close94.594Nov 10, 2025Close92.594Dec 3, 2025Close92.281Dec 24, 2025Close91.250Jan 16, 2026Close90.781Feb 9, 2026Close90.563Mar 3, 2026Close92.656Mar 24, 2026Close89.125Apr 14, 2026Close90.188May 5, 2026Close88.563May 27, 2026Close88.094Jun 17, 2026Close89.250Jul 10, 2026Close87.406Jul 31, 2026Close84.719Aug 21, 2026Close84.719Sep 10, 2026Close83.531
The most recent 20 trading days of prices for 912810TX6.
DateBidOfferClose
Sep 10, 202683.89183.87583.531
Sep 9, 202684.46984.43884.688
Sep 8, 202685.15685.12585.000
Sep 4, 202685.18885.15685.125
Sep 3, 202685.31385.28185.094
Sep 2, 202684.81384.78184.813
Sep 1, 202685.14185.12584.813
Aug 31, 202684.92284.90685.094
Aug 28, 202685.93885.90685.500
Aug 27, 202686.01686.00085.844
Aug 26, 202685.98485.96985.938
Aug 25, 202686.00085.96986.094
Aug 24, 202685.51685.50085.313
Aug 21, 202684.85984.84484.719
Aug 20, 202685.07885.06385.281
Aug 19, 202685.59485.56385.719
Aug 18, 202684.35984.34484.500
Aug 17, 202684.54784.53184.219
Aug 14, 202684.81384.78184.906
Aug 13, 202685.48485.46985.500

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 912810TX6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 8, 2024Feb 15, 2024New issue$25.0bn$26.8bn2.40x4.360%
Mar 13, 2024Mar 15, 2024Reopening$22.0bn$22.0bn2.47x4.331%
Apr 11, 2024Apr 15, 2024Reopening$22.0bn$22.4bn2.37x4.671%

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.