Treasury bond

912810UK2 · 4.75% due May 15, 2055

Original term
30-Year
Maturity
May 15, 2055
Coupon
4.750%
Pays
Semi-Annual
Dated
May 15, 2025
First coupon
Nov 15, 2025
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$80.80bn
Held stripped
$15.80bn
Share stripped
19.56%

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
5.389%
Modified duration
14.654 yr
DV01
0.1352
Convexity
321.495
Dirty price
92.255

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 14.793 years against a modified duration of 14.654.

Against the fitted curve

Priced 0.1 bp rich to the curve on that day, 1.61 cents per 100 of face.

That is 0.84 standard deviations from its own typical residual.

Yield to maturity, 331 observations

4.4%4.6%4.8%5.0%5.2%5.4%May 15, 2025Sep 10, 2026May 15, 2025Yield to maturity4.914%May 28, 2025Yield to maturity4.972%Jun 9, 2025Yield to maturity4.955%Jun 20, 2025Yield to maturity4.892%Jul 2, 2025Yield to maturity4.823%Jul 15, 2025Yield to maturity5.016%Jul 25, 2025Yield to maturity4.924%Aug 6, 2025Yield to maturity4.811%Aug 18, 2025Yield to maturity4.943%Aug 28, 2025Yield to maturity4.882%Sep 10, 2025Yield to maturity4.689%Sep 22, 2025Yield to maturity4.765%Oct 2, 2025Yield to maturity4.697%Oct 15, 2025Yield to maturity4.638%Oct 27, 2025Yield to maturity4.570%Nov 6, 2025Yield to maturity4.689%Nov 19, 2025Yield to maturity4.754%Dec 2, 2025Yield to maturity4.744%Dec 12, 2025Yield to maturity4.862%Dec 24, 2025Yield to maturity4.800%Jan 7, 2026Yield to maturity4.822%Jan 20, 2026Yield to maturity4.920%Jan 30, 2026Yield to maturity4.879%Feb 11, 2026Yield to maturity4.822%Feb 24, 2026Yield to maturity4.704%Mar 6, 2026Yield to maturity4.776%Mar 18, 2026Yield to maturity4.889%Mar 30, 2026Yield to maturity4.920%Apr 9, 2026Yield to maturity4.910%Apr 21, 2026Yield to maturity4.902%May 1, 2026Yield to maturity4.979%May 13, 2026Yield to maturity5.054%May 26, 2026Yield to maturity5.045%Jun 5, 2026Yield to maturity5.024%Jun 17, 2026Yield to maturity4.948%Jun 30, 2026Yield to maturity4.929%Jul 13, 2026Yield to maturity5.116%Jul 23, 2026Yield to maturity5.187%Aug 4, 2026Yield to maturity5.205%Aug 14, 2026Yield to maturity5.276%Aug 26, 2026Yield to maturity5.201%Sep 8, 2026Yield to maturity5.272%Sep 10, 2026Yield to maturity5.389%

Price history

331 trading days to Sep 10, 2026

90.092.595.097.5100.0102.5105.0May 15, 2025Sep 10, 2026May 15, 2025Close97.438May 28, 2025Close96.563Jun 9, 2025Close96.813Jun 20, 2025Close97.781Jul 2, 2025Close98.844Jul 15, 2025Close95.906Jul 25, 2025Close97.281Aug 6, 2025Close99.031Aug 18, 2025Close97.000Aug 28, 2025Close97.938Sep 10, 2025Close100.969Sep 22, 2025Close99.750Oct 2, 2025Close100.844Oct 15, 2025Close101.781Oct 27, 2025Close102.906Nov 6, 2025Close100.969Nov 19, 2025Close99.938Dec 2, 2025Close100.094Dec 12, 2025Close98.250Dec 24, 2025Close99.219Jan 7, 2026Close98.875Jan 20, 2026Close97.375Jan 30, 2026Close98.000Feb 11, 2026Close98.875Feb 24, 2026Close100.719Mar 6, 2026Close99.594Mar 18, 2026Close97.844Mar 30, 2026Close97.375Apr 9, 2026Close97.531Apr 21, 2026Close97.656May 1, 2026Close96.500May 13, 2026Close95.406May 26, 2026Close95.531Jun 5, 2026Close95.844Jun 17, 2026Close96.969Jun 30, 2026Close97.250Jul 13, 2026Close94.500Jul 23, 2026Close93.500Aug 4, 2026Close93.250Aug 14, 2026Close92.250Aug 26, 2026Close93.313Sep 8, 2026Close92.313Sep 10, 2026Close90.719
The most recent 20 trading days of prices for 912810UK2.
DateBidOfferClose
Sep 10, 202691.07891.06390.719
Sep 9, 202691.73491.71991.938
Sep 8, 202692.45392.43892.313
Sep 4, 202692.48492.46992.469
Sep 3, 202692.64192.62592.406
Sep 2, 202692.10992.09492.125
Sep 1, 202692.45392.43892.125
Aug 31, 202692.23492.21992.406
Aug 28, 202693.31393.28192.844
Aug 27, 202693.39193.37593.188
Aug 26, 202693.35993.34493.313
Aug 25, 202693.39193.37593.500
Aug 24, 202692.82892.81392.625
Aug 21, 202692.14192.12592.000
Aug 20, 202692.39192.37592.625
Aug 19, 202692.98492.96993.125
Aug 18, 202691.67291.65691.813
Aug 17, 202691.85991.84491.500
Aug 14, 202692.14192.12592.250
Aug 13, 202692.85992.84492.875

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 912810UK2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 8, 2025May 15, 2025New issue$25.0bn$33.8bn2.31x4.819%
Jun 12, 2025Jun 16, 2025Reopening$22.0bn$22.4bn2.43x4.844%
Jul 10, 2025Jul 15, 2025Reopening$22.0bn$24.6bn2.38x4.889%

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.