Treasury bond

912810UP1 · 4.625% due November 15, 2055

Original term
30-Year
Maturity
Nov 15, 2055
Coupon
4.625%
Pays
Semi-Annual
Dated
Nov 15, 2025
First coupon
May 15, 2026
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$79.28bn
Held stripped
$12.23bn
Share stripped
15.43%

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
5.383%
Modified duration
14.850 yr
DV01
0.1342
Convexity
330.928
Dirty price
90.402

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 14.997 years against a modified duration of 14.850.

Against the fitted curve

Priced 0.2 bp rich to the curve on that day, 2.98 cents per 100 of face.

That is 0.63 standard deviations from its own typical residual.

Yield to maturity, 205 observations

4.6%4.8%5.0%5.2%5.4%Nov 17, 2025Sep 10, 2026Nov 17, 2025Yield to maturity4.733%Nov 24, 2025Yield to maturity4.681%Dec 2, 2025Yield to maturity4.741%Dec 9, 2025Yield to maturity4.805%Dec 16, 2025Yield to maturity4.819%Dec 23, 2025Yield to maturity4.829%Dec 31, 2025Yield to maturity4.848%Jan 8, 2026Yield to maturity4.858%Jan 15, 2026Yield to maturity4.793%Jan 23, 2026Yield to maturity4.827%Jan 30, 2026Yield to maturity4.875%Feb 6, 2026Yield to maturity4.854%Feb 13, 2026Yield to maturity4.699%Feb 23, 2026Yield to maturity4.707%Mar 2, 2026Yield to maturity4.699%Mar 9, 2026Yield to maturity4.727%Mar 16, 2026Yield to maturity4.865%Mar 23, 2026Yield to maturity4.921%Mar 30, 2026Yield to maturity4.910%Apr 6, 2026Yield to maturity4.892%Apr 13, 2026Yield to maturity4.902%Apr 20, 2026Yield to maturity4.884%Apr 27, 2026Yield to maturity4.949%May 4, 2026Yield to maturity5.025%May 11, 2026Yield to maturity4.989%May 18, 2026Yield to maturity5.145%May 26, 2026Yield to maturity5.038%Jun 2, 2026Yield to maturity4.974%Jun 9, 2026Yield to maturity5.017%Jun 16, 2026Yield to maturity4.932%Jun 24, 2026Yield to maturity4.868%Jul 1, 2026Yield to maturity4.975%Jul 9, 2026Yield to maturity5.065%Jul 16, 2026Yield to maturity5.102%Jul 23, 2026Yield to maturity5.179%Jul 30, 2026Yield to maturity5.219%Aug 6, 2026Yield to maturity5.228%Aug 13, 2026Yield to maturity5.224%Aug 20, 2026Yield to maturity5.247%Aug 27, 2026Yield to maturity5.204%Sep 3, 2026Yield to maturity5.261%Sep 10, 2026Yield to maturity5.383%

Price history

205 trading days to Sep 10, 2026

889092949698100Nov 17, 2025Sep 10, 2026Nov 17, 2025Close98.281Nov 24, 2025Close99.094Dec 2, 2025Close98.156Dec 9, 2025Close97.156Dec 16, 2025Close96.938Dec 23, 2025Close96.781Dec 31, 2025Close96.500Jan 8, 2026Close96.344Jan 15, 2026Close97.344Jan 23, 2026Close96.813Jan 30, 2026Close96.094Feb 6, 2026Close96.406Feb 13, 2026Close98.813Feb 23, 2026Close98.688Mar 2, 2026Close98.813Mar 9, 2026Close98.375Mar 16, 2026Close96.250Mar 23, 2026Close95.406Mar 30, 2026Close95.563Apr 6, 2026Close95.844Apr 13, 2026Close95.688Apr 20, 2026Close95.969Apr 27, 2026Close95.000May 4, 2026Close93.875May 11, 2026Close94.406May 18, 2026Close92.156May 26, 2026Close93.688Jun 2, 2026Close94.625Jun 9, 2026Close94.000Jun 16, 2026Close95.250Jun 24, 2026Close96.219Jul 1, 2026Close94.625Jul 9, 2026Close93.313Jul 16, 2026Close92.781Jul 23, 2026Close91.688Jul 30, 2026Close91.125Aug 6, 2026Close91.000Aug 13, 2026Close91.063Aug 20, 2026Close90.750Aug 27, 2026Close91.344Sep 3, 2026Close90.563Sep 10, 2026Close88.906
The most recent 20 trading days of prices for 912810UP1.
DateBidOfferClose
Sep 10, 202689.26689.25088.906
Sep 9, 202689.90689.87590.125
Sep 8, 202690.60990.59490.469
Sep 4, 202690.65690.62590.625
Sep 3, 202690.79790.78190.563
Sep 2, 202690.29790.28190.281
Sep 1, 202690.60990.59490.281
Aug 31, 202690.39190.37590.563
Aug 28, 202691.45391.43891.000
Aug 27, 202691.51691.50091.344
Aug 26, 202691.48491.46991.438
Aug 25, 202691.51691.50091.625
Aug 24, 202690.98490.96990.781
Aug 21, 202690.29790.28190.156
Aug 20, 202690.54790.53190.750
Aug 19, 202691.14191.12591.281
Aug 18, 202689.82889.81390.000
Aug 17, 202690.03190.00089.688
Aug 14, 202690.32890.31390.406
Aug 13, 202691.04791.03191.063

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 912810UP1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 13, 2025Nov 17, 2025New issue$25.0bn$28.9bn2.29x4.694%
Dec 11, 2025Dec 15, 2025Reopening$22.0bn$22.0bn2.36x4.773%
Jan 13, 2026Jan 15, 2026Reopening$22.0bn$28.4bn2.42x4.825%

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.