Treasury bond

912810UD8 · 4.125% due August 15, 2044

Original term
20-Year
Maturity
Aug 15, 2044
Coupon
4.125%
Pays
Semi-Annual
Dated
Aug 15, 2024
First coupon
Feb 15, 2025
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$43.75bn
Held stripped
$8.6m
Share stripped
0.02%

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
5.283%
Modified duration
11.889 yr
DV01
0.1043
Convexity
1.85
Dirty price
87.725

Where its rate sensitivity sits

0.01
0.01
0.04
0.09
0.20
0.37
0.60
1.17
4.98
4.63
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 10 of twelve buckets, summing to 12.096 years against a modified duration of 11.889.

Against the fitted curve

Priced 2.5 bp cheap to the curve on that day, 25.70 cents per 100 of face.

That is -0.22 standard deviations from its own typical residual.

Yield to maturity, 546 observations

4.00%4.25%4.50%4.75%5.00%5.25%5.50%5.75%Sep 3, 2024Nov 9, 2026Sep 3, 2024Yield to maturity4.209%Sep 6, 2024Yield to maturity4.099%Sep 11, 2024Yield to maturity4.033%Sep 16, 2024Yield to maturity4.006%Sep 19, 2024Yield to maturity4.115%Sep 24, 2024Yield to maturity4.129%Sep 27, 2024Yield to maturity4.148%Oct 2, 2024Yield to maturity4.192%Oct 7, 2024Yield to maturity4.378%Oct 10, 2024Yield to maturity4.439%Oct 16, 2024Yield to maturity4.367%Oct 21, 2024Yield to maturity4.546%Oct 24, 2024Yield to maturity4.549%Oct 29, 2024Yield to maturity4.622%Nov 1, 2024Yield to maturity4.683%Nov 6, 2024Yield to maturity4.714%Nov 12, 2024Yield to maturity4.707%Nov 15, 2024Yield to maturity4.710%Nov 20, 2024Yield to maturity4.697%Nov 25, 2024Yield to maturity4.568%Nov 29, 2024Yield to maturity4.480%Dec 4, 2024Yield to maturity4.476%Dec 9, 2024Yield to maturity4.496%Dec 12, 2024Yield to maturity4.649%Dec 17, 2024Yield to maturity4.706%Dec 20, 2024Yield to maturity4.832%Dec 26, 2024Yield to maturity4.872%Dec 31, 2024Yield to maturity4.875%Jan 6, 2025Yield to maturity4.923%Jan 9, 2025Yield to maturity5.002%Jan 14, 2025Yield to maturity5.076%Jan 17, 2025Yield to maturity4.932%Jan 23, 2025Yield to maturity4.946%Jan 28, 2025Yield to maturity4.855%Jan 31, 2025Yield to maturity4.890%Feb 5, 2025Yield to maturity4.704%Feb 10, 2025Yield to maturity4.769%Feb 13, 2025Yield to maturity4.798%Feb 19, 2025Yield to maturity4.828%Feb 24, 2025Yield to maturity4.723%Feb 27, 2025Yield to maturity4.620%Mar 4, 2025Yield to maturity4.587%Mar 7, 2025Yield to maturity4.685%Mar 12, 2025Yield to maturity4.690%Mar 17, 2025Yield to maturity4.657%Mar 20, 2025Yield to maturity4.598%Mar 25, 2025Yield to maturity4.691%Mar 28, 2025Yield to maturity4.665%Apr 2, 2025Yield to maturity4.591%Apr 7, 2025Yield to maturity4.622%Apr 10, 2025Yield to maturity4.919%Apr 15, 2025Yield to maturity4.836%Apr 21, 2025Yield to maturity4.960%Apr 24, 2025Yield to maturity4.802%Apr 29, 2025Yield to maturity4.669%May 2, 2025Yield to maturity4.816%May 7, 2025Yield to maturity4.795%May 12, 2025Yield to maturity4.935%May 15, 2025Yield to maturity4.949%May 20, 2025Yield to maturity5.004%May 23, 2025Yield to maturity5.073%May 29, 2025Yield to maturity4.969%Jun 3, 2025Yield to maturity5.019%Jun 6, 2025Yield to maturity5.016%Jun 11, 2025Yield to maturity4.945%Jun 16, 2025Yield to maturity4.990%Jun 20, 2025Yield to maturity4.914%Jun 25, 2025Yield to maturity4.846%Jun 30, 2025Yield to maturity4.791%Jul 3, 2025Yield to maturity4.882%Jul 9, 2025Yield to maturity4.880%Jul 14, 2025Yield to maturity4.981%Jul 17, 2025Yield to maturity5.028%Jul 22, 2025Yield to maturity4.905%Jul 25, 2025Yield to maturity4.927%Jul 30, 2025Yield to maturity4.903%Aug 4, 2025Yield to maturity4.780%Aug 7, 2025Yield to maturity4.807%Aug 12, 2025Yield to maturity4.866%Aug 15, 2025Yield to maturity4.913%Aug 20, 2025Yield to maturity4.878%Aug 25, 2025Yield to maturity4.873%Aug 28, 2025Yield to maturity4.840%Sep 3, 2025Yield to maturity4.854%Sep 8, 2025Yield to maturity4.647%Sep 11, 2025Yield to maturity4.603%Sep 16, 2025Yield to maturity4.611%Sep 19, 2025Yield to maturity4.716%Sep 24, 2025Yield to maturity4.727%Sep 29, 2025Yield to maturity4.690%Oct 2, 2025Yield to maturity4.656%Oct 7, 2025Yield to maturity4.691%Oct 10, 2025Yield to maturity4.599%Oct 16, 2025Yield to maturity4.548%Oct 21, 2025Yield to maturity4.519%Oct 24, 2025Yield to maturity4.558%Oct 29, 2025Yield to maturity4.584%Nov 3, 2025Yield to maturity4.663%Nov 6, 2025Yield to maturity4.655%Nov 12, 2025Yield to maturity4.634%Nov 17, 2025Yield to maturity4.701%Nov 20, 2025Yield to maturity4.690%Nov 25, 2025Yield to maturity4.622%Dec 1, 2025Yield to maturity4.709%Dec 4, 2025Yield to maturity4.720%Dec 9, 2025Yield to maturity4.779%Dec 12, 2025Yield to maturity4.823%Dec 17, 2025Yield to maturity4.783%Dec 22, 2025Yield to maturity4.791%Dec 26, 2025Yield to maturity4.767%Dec 31, 2025Yield to maturity4.792%Jan 6, 2026Yield to maturity4.795%Jan 9, 2026Yield to maturity4.752%Jan 14, 2026Yield to maturity4.717%Jan 20, 2026Yield to maturity4.861%Jan 23, 2026Yield to maturity4.774%Jan 28, 2026Yield to maturity4.807%Feb 2, 2026Yield to maturity4.843%Feb 5, 2026Yield to maturity4.781%Feb 10, 2026Yield to maturity4.711%Feb 13, 2026Yield to maturity4.619%Feb 19, 2026Yield to maturity4.632%Feb 24, 2026Yield to maturity4.616%Feb 27, 2026Yield to maturity4.553%Mar 4, 2026Yield to maturity4.654%Mar 9, 2026Yield to maturity4.688%Mar 12, 2026Yield to maturity4.856%Mar 17, 2026Yield to maturity4.805%Mar 20, 2026Yield to maturity4.985%Mar 25, 2026Yield to maturity4.899%Mar 30, 2026Yield to maturity4.907%Apr 2, 2026Yield to maturity4.872%Apr 7, 2026Yield to maturity4.891%Apr 10, 2026Yield to maturity4.886%Apr 15, 2026Yield to maturity4.853%Apr 20, 2026Yield to maturity4.832%Apr 23, 2026Yield to maturity4.895%Apr 28, 2026Yield to maturity4.912%May 1, 2026Yield to maturity4.946%May 6, 2026Yield to maturity4.907%May 11, 2026Yield to maturity4.958%May 14, 2026Yield to maturity5.000%May 19, 2026Yield to maturity5.187%May 22, 2026Yield to maturity5.072%May 28, 2026Yield to maturity4.973%Jun 2, 2026Yield to maturity4.957%Jun 5, 2026Yield to maturity5.025%Jun 10, 2026Yield to maturity5.037%Jun 15, 2026Yield to maturity4.961%Jun 18, 2026Yield to maturity4.905%Jun 24, 2026Yield to maturity4.858%Jun 29, 2026Yield to maturity4.845%Jul 2, 2026Yield to maturity4.982%Jul 8, 2026Yield to maturity5.065%Jul 13, 2026Yield to maturity5.109%Jul 16, 2026Yield to maturity5.083%Jul 21, 2026Yield to maturity5.133%Jul 24, 2026Yield to maturity5.180%Jul 29, 2026Yield to maturity5.204%Aug 3, 2026Yield to maturity5.234%Aug 6, 2026Yield to maturity5.217%Aug 11, 2026Yield to maturity5.241%Aug 14, 2026Yield to maturity5.245%Aug 19, 2026Yield to maturity5.168%Aug 24, 2026Yield to maturity5.207%Aug 27, 2026Yield to maturity5.175%Sep 1, 2026Yield to maturity5.264%Sep 4, 2026Yield to maturity5.238%Sep 10, 2026Yield to maturity5.382%Sep 15, 2026Yield to maturity5.398%Sep 18, 2026Yield to maturity5.374%Sep 23, 2026Yield to maturity5.460%Sep 28, 2026Yield to maturity5.609%Oct 1, 2026Yield to maturity5.651%Oct 6, 2026Yield to maturity5.690%Oct 9, 2026Yield to maturity5.652%Oct 15, 2026Yield to maturity5.490%Oct 20, 2026Yield to maturity5.475%Oct 23, 2026Yield to maturity5.369%Oct 28, 2026Yield to maturity5.415%Nov 2, 2026Yield to maturity5.310%Nov 5, 2026Yield to maturity5.262%Nov 9, 2026Yield to maturity5.283%

Price history

546 trading days to Nov 9, 2026

80859095100105Sep 3, 2024Nov 9, 2026Sep 3, 2024Close98.875Sep 6, 2024Close100.344Sep 11, 2024Close101.250Sep 16, 2024Close101.625Sep 19, 2024Close100.125Sep 24, 2024Close99.938Sep 27, 2024Close99.688Oct 2, 2024Close99.094Oct 7, 2024Close96.656Oct 10, 2024Close95.875Oct 16, 2024Close96.813Oct 21, 2024Close94.531Oct 24, 2024Close94.500Oct 29, 2024Close93.594Nov 1, 2024Close92.844Nov 6, 2024Close92.469Nov 12, 2024Close92.563Nov 15, 2024Close92.531Nov 20, 2024Close92.688Nov 25, 2024Close94.281Nov 29, 2024Close95.375Dec 4, 2024Close95.438Dec 9, 2024Close95.188Dec 12, 2024Close93.281Dec 17, 2024Close92.594Dec 20, 2024Close91.094Dec 26, 2024Close90.625Dec 31, 2024Close90.594Jan 6, 2025Close90.031Jan 9, 2025Close89.125Jan 14, 2025Close88.281Jan 17, 2025Close89.938Jan 23, 2025Close89.781Jan 28, 2025Close90.844Jan 31, 2025Close90.438Feb 5, 2025Close92.656Feb 10, 2025Close91.875Feb 13, 2025Close91.531Feb 19, 2025Close91.188Feb 24, 2025Close92.438Feb 27, 2025Close93.688Mar 4, 2025Close94.094Mar 7, 2025Close92.906Mar 12, 2025Close92.844Mar 17, 2025Close93.250Mar 20, 2025Close93.969Mar 25, 2025Close92.844Mar 28, 2025Close93.156Apr 2, 2025Close94.063Apr 7, 2025Close93.688Apr 10, 2025Close90.156Apr 15, 2025Close91.125Apr 21, 2025Close89.688Apr 24, 2025Close91.531Apr 29, 2025Close93.125May 2, 2025Close91.375May 7, 2025Close91.625May 12, 2025Close90.000May 15, 2025Close89.844May 20, 2025Close89.219May 23, 2025Close88.438May 29, 2025Close89.625Jun 3, 2025Close89.063Jun 6, 2025Close89.094Jun 11, 2025Close89.906Jun 16, 2025Close89.406Jun 20, 2025Close90.281Jun 25, 2025Close91.063Jun 30, 2025Close91.719Jul 3, 2025Close90.656Jul 9, 2025Close90.688Jul 14, 2025Close89.531Jul 17, 2025Close89.000Jul 22, 2025Close90.406Jul 25, 2025Close90.156Jul 30, 2025Close90.438Aug 4, 2025Close91.875Aug 7, 2025Close91.563Aug 12, 2025Close90.875Aug 15, 2025Close90.344Aug 20, 2025Close90.750Aug 25, 2025Close90.813Aug 28, 2025Close91.188Sep 3, 2025Close91.031Sep 8, 2025Close93.469Sep 11, 2025Close94.000Sep 16, 2025Close93.906Sep 19, 2025Close92.656Sep 24, 2025Close92.531Sep 29, 2025Close92.969Oct 2, 2025Close93.375Oct 7, 2025Close92.969Oct 10, 2025Close94.063Oct 16, 2025Close94.688Oct 21, 2025Close95.031Oct 24, 2025Close94.563Oct 29, 2025Close94.250Nov 3, 2025Close93.313Nov 6, 2025Close93.406Nov 12, 2025Close93.656Nov 17, 2025Close92.875Nov 20, 2025Close93.000Nov 25, 2025Close93.813Dec 1, 2025Close92.781Dec 4, 2025Close92.656Dec 9, 2025Close91.969Dec 12, 2025Close91.469Dec 17, 2025Close91.938Dec 22, 2025Close91.844Dec 26, 2025Close92.125Dec 31, 2025Close91.844Jan 6, 2026Close91.813Jan 9, 2026Close92.313Jan 14, 2026Close92.719Jan 20, 2026Close91.063Jan 23, 2026Close92.063Jan 28, 2026Close91.688Feb 2, 2026Close91.281Feb 5, 2026Close92.000Feb 10, 2026Close92.813Feb 13, 2026Close93.906Feb 19, 2026Close93.750Feb 24, 2026Close93.938Feb 27, 2026Close94.688Mar 4, 2026Close93.500Mar 9, 2026Close93.094Mar 12, 2026Close91.156Mar 17, 2026Close91.750Mar 20, 2026Close89.719Mar 25, 2026Close90.688Mar 30, 2026Close90.594Apr 2, 2026Close91.000Apr 7, 2026Close90.781Apr 10, 2026Close90.844Apr 15, 2026Close91.219Apr 20, 2026Close91.469Apr 23, 2026Close90.750Apr 28, 2026Close90.563May 1, 2026Close90.188May 6, 2026Close90.625May 11, 2026Close90.063May 14, 2026Close89.594May 19, 2026Close87.563May 22, 2026Close88.813May 28, 2026Close89.906Jun 2, 2026Close90.094Jun 5, 2026Close89.344Jun 10, 2026Close89.219Jun 15, 2026Close90.063Jun 18, 2026Close90.688Jun 24, 2026Close91.219Jun 29, 2026Close91.375Jul 2, 2026Close89.844Jul 8, 2026Close88.938Jul 13, 2026Close88.469Jul 16, 2026Close88.750Jul 21, 2026Close88.219Jul 24, 2026Close87.719Jul 29, 2026Close87.469Aug 3, 2026Close87.156Aug 6, 2026Close87.344Aug 11, 2026Close87.094Aug 14, 2026Close87.063Aug 19, 2026Close87.875Aug 24, 2026Close87.469Aug 27, 2026Close87.813Sep 1, 2026Close86.875Sep 4, 2026Close87.156Sep 10, 2026Close85.656Sep 15, 2026Close85.500Sep 18, 2026Close85.750Sep 23, 2026Close84.875Sep 28, 2026Close83.375Oct 1, 2026Close82.969Oct 6, 2026Close82.594Oct 9, 2026Close82.969Oct 15, 2026Close84.594Oct 20, 2026Close84.750Oct 23, 2026Close85.844Oct 28, 2026Close85.375Nov 2, 2026Close86.469Nov 5, 2026Close86.969Nov 9, 2026Close86.750
The most recent 20 trading days of prices for 912810UD8.
DateBidOfferClose
Nov 9, 202686.75086.76686.750
Nov 6, 202686.84486.87586.813
Nov 5, 202686.93886.96986.969
Nov 4, 202686.31386.34486.625
Nov 3, 202686.21986.26686.094
Nov 2, 202686.81386.84486.469
Oct 30, 202686.12586.15686.219
Oct 29, 202686.03186.07886.031
Oct 28, 202685.78185.81385.375
Oct 27, 202686.06386.09486.125
Oct 26, 202686.03186.06386.000
Oct 23, 202685.93885.96985.844
Oct 22, 202685.78185.81386.344
Oct 21, 202684.87584.90684.781
Oct 20, 202684.71984.75084.750
Oct 19, 202684.34484.37584.156
Oct 16, 202684.87584.90684.750
Oct 15, 202684.65684.68884.594
Oct 14, 202683.21983.25083.719
Oct 13, 202683.37583.39183.438

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 912810UD8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 21, 2024Sep 3, 2024New issue$16.0bn$17.3bn2.54x4.160%
Sep 17, 2024Sep 30, 2024Reopening$13.0bn$13.3bn2.51x4.039%
Oct 23, 2024Oct 31, 2024Reopening$13.0bn$13.2bn2.59x4.590%

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.