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
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$79.28bn
Held stripped
$14.65bn
Share stripped
18.48%

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
5.281%
Modified duration
14.803 yr
DV01
0.1370
Convexity
3.3
Dirty price
92.562

Where its rate sensitivity sits

0.01
0.04
0.09
0.21
0.39
0.64
1.25
1.70
1.69
2.93
5.99
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 11 of twelve buckets, summing to 14.966 years against a modified duration of 14.803.

Against the fitted curve

Priced 0.1 bp cheap to the curve on that day, 1.65 cents per 100 of face.

That is 0.69 standard deviations from its own typical residual.

Yield to maturity, 246 observations

4.6%4.8%5.0%5.2%5.4%5.6%5.8%Nov 17, 2025Nov 9, 2026Nov 17, 2025Yield to maturity4.733%Nov 19, 2025Yield to maturity4.751%Nov 21, 2025Yield to maturity4.715%Nov 25, 2025Yield to maturity4.670%Nov 28, 2025Yield to maturity4.666%Dec 2, 2025Yield to maturity4.741%Dec 4, 2025Yield to maturity4.765%Dec 8, 2025Yield to maturity4.811%Dec 10, 2025Yield to maturity4.783%Dec 12, 2025Yield to maturity4.858%Dec 16, 2025Yield to maturity4.819%Dec 18, 2025Yield to maturity4.799%Dec 22, 2025Yield to maturity4.841%Dec 24, 2025Yield to maturity4.797%Dec 29, 2025Yield to maturity4.803%Dec 31, 2025Yield to maturity4.848%Jan 5, 2026Yield to maturity4.852%Jan 7, 2026Yield to maturity4.819%Jan 9, 2026Yield to maturity4.819%Jan 13, 2026Yield to maturity4.831%Jan 15, 2026Yield to maturity4.793%Jan 20, 2026Yield to maturity4.916%Jan 22, 2026Yield to maturity4.846%Jan 26, 2026Yield to maturity4.803%Jan 28, 2026Yield to maturity4.858%Jan 30, 2026Yield to maturity4.875%Feb 3, 2026Yield to maturity4.901%Feb 5, 2026Yield to maturity4.854%Feb 9, 2026Yield to maturity4.850%Feb 11, 2026Yield to maturity4.819%Feb 13, 2026Yield to maturity4.699%Feb 18, 2026Yield to maturity4.717%Feb 20, 2026Yield to maturity4.725%Feb 24, 2026Yield to maturity4.701%Feb 26, 2026Yield to maturity4.670%Mar 2, 2026Yield to maturity4.699%Mar 4, 2026Yield to maturity4.723%Mar 6, 2026Yield to maturity4.771%Mar 10, 2026Yield to maturity4.781%Mar 12, 2026Yield to maturity4.887%Mar 16, 2026Yield to maturity4.865%Mar 18, 2026Yield to maturity4.883%Mar 20, 2026Yield to maturity4.965%Mar 24, 2026Yield to maturity4.940%Mar 26, 2026Yield to maturity4.938%Mar 30, 2026Yield to maturity4.910%Apr 1, 2026Yield to maturity4.919%Apr 3, 2026Yield to maturity4.917%Apr 7, 2026Yield to maturity4.906%Apr 9, 2026Yield to maturity4.902%Apr 13, 2026Yield to maturity4.902%Apr 15, 2026Yield to maturity4.896%Apr 17, 2026Yield to maturity4.890%Apr 21, 2026Yield to maturity4.896%Apr 23, 2026Yield to maturity4.928%Apr 27, 2026Yield to maturity4.949%Apr 29, 2026Yield to maturity4.985%May 1, 2026Yield to maturity4.974%May 5, 2026Yield to maturity4.989%May 7, 2026Yield to maturity4.981%May 11, 2026Yield to maturity4.989%May 13, 2026Yield to maturity5.045%May 15, 2026Yield to maturity5.134%May 19, 2026Yield to maturity5.189%May 21, 2026Yield to maturity5.105%May 26, 2026Yield to maturity5.038%May 28, 2026Yield to maturity4.994%Jun 1, 2026Yield to maturity4.998%Jun 3, 2026Yield to maturity4.998%Jun 5, 2026Yield to maturity5.017%Jun 9, 2026Yield to maturity5.017%Jun 11, 2026Yield to maturity4.958%Jun 15, 2026Yield to maturity4.977%Jun 17, 2026Yield to maturity4.941%Jun 22, 2026Yield to maturity4.954%Jun 24, 2026Yield to maturity4.868%Jun 26, 2026Yield to maturity4.872%Jun 30, 2026Yield to maturity4.922%Jul 2, 2026Yield to maturity4.994%Jul 7, 2026Yield to maturity5.056%Jul 9, 2026Yield to maturity5.065%Jul 13, 2026Yield to maturity5.110%Jul 15, 2026Yield to maturity5.086%Jul 17, 2026Yield to maturity5.076%Jul 21, 2026Yield to maturity5.139%Jul 23, 2026Yield to maturity5.179%Jul 27, 2026Yield to maturity5.135%Jul 29, 2026Yield to maturity5.212%Jul 31, 2026Yield to maturity5.280%Aug 4, 2026Yield to maturity5.197%Aug 6, 2026Yield to maturity5.228%Aug 10, 2026Yield to maturity5.260%Aug 12, 2026Yield to maturity5.258%Aug 14, 2026Yield to maturity5.272%Aug 18, 2026Yield to maturity5.301%Aug 20, 2026Yield to maturity5.247%Aug 24, 2026Yield to maturity5.245%Aug 26, 2026Yield to maturity5.198%Aug 28, 2026Yield to maturity5.229%Sep 1, 2026Yield to maturity5.281%Sep 3, 2026Yield to maturity5.261%Sep 8, 2026Yield to maturity5.268%Sep 10, 2026Yield to maturity5.383%Sep 14, 2026Yield to maturity5.350%Sep 16, 2026Yield to maturity5.367%Sep 18, 2026Yield to maturity5.350%Sep 22, 2026Yield to maturity5.307%Sep 24, 2026Yield to maturity5.487%Sep 28, 2026Yield to maturity5.576%Sep 30, 2026Yield to maturity5.655%Oct 2, 2026Yield to maturity5.652%Oct 6, 2026Yield to maturity5.660%Oct 8, 2026Yield to maturity5.623%Oct 13, 2026Yield to maturity5.577%Oct 15, 2026Yield to maturity5.445%Oct 19, 2026Yield to maturity5.495%Oct 21, 2026Yield to maturity5.433%Oct 23, 2026Yield to maturity5.338%Oct 27, 2026Yield to maturity5.313%Oct 29, 2026Yield to maturity5.331%Nov 2, 2026Yield to maturity5.297%Nov 4, 2026Yield to maturity5.295%Nov 6, 2026Yield to maturity5.277%Nov 9, 2026Yield to maturity5.281%

Price history

246 trading days to Nov 9, 2026

82.585.087.590.092.595.097.5100.0Nov 17, 2025Nov 9, 2026Nov 17, 2025Close98.281Nov 19, 2025Close98.000Nov 21, 2025Close98.563Nov 25, 2025Close99.281Nov 28, 2025Close99.344Dec 2, 2025Close98.156Dec 4, 2025Close97.781Dec 8, 2025Close97.063Dec 10, 2025Close97.500Dec 12, 2025Close96.344Dec 16, 2025Close96.938Dec 18, 2025Close97.250Dec 22, 2025Close96.594Dec 24, 2025Close97.281Dec 29, 2025Close97.188Dec 31, 2025Close96.500Jan 5, 2026Close96.438Jan 7, 2026Close96.938Jan 9, 2026Close96.938Jan 13, 2026Close96.750Jan 15, 2026Close97.344Jan 20, 2026Close95.469Jan 22, 2026Close96.531Jan 26, 2026Close97.188Jan 28, 2026Close96.344Jan 30, 2026Close96.094Feb 3, 2026Close95.688Feb 5, 2026Close96.406Feb 9, 2026Close96.469Feb 11, 2026Close96.938Feb 13, 2026Close98.813Feb 18, 2026Close98.531Feb 20, 2026Close98.406Feb 24, 2026Close98.781Feb 26, 2026Close99.281Mar 2, 2026Close98.813Mar 4, 2026Close98.438Mar 6, 2026Close97.688Mar 10, 2026Close97.531Mar 12, 2026Close95.906Mar 16, 2026Close96.250Mar 18, 2026Close95.969Mar 20, 2026Close94.750Mar 24, 2026Close95.125Mar 26, 2026Close95.156Mar 30, 2026Close95.563Apr 1, 2026Close95.438Apr 3, 2026Close95.469Apr 7, 2026Close95.625Apr 9, 2026Close95.688Apr 13, 2026Close95.688Apr 15, 2026Close95.781Apr 17, 2026Close95.875Apr 21, 2026Close95.781Apr 23, 2026Close95.313Apr 27, 2026Close95.000Apr 29, 2026Close94.469May 1, 2026Close94.625May 5, 2026Close94.406May 7, 2026Close94.531May 11, 2026Close94.406May 13, 2026Close93.594May 15, 2026Close92.313May 19, 2026Close91.531May 21, 2026Close92.719May 26, 2026Close93.688May 28, 2026Close94.344Jun 1, 2026Close94.281Jun 3, 2026Close94.281Jun 5, 2026Close94.000Jun 9, 2026Close94.000Jun 11, 2026Close94.875Jun 15, 2026Close94.594Jun 17, 2026Close95.125Jun 22, 2026Close94.938Jun 24, 2026Close96.219Jun 26, 2026Close96.156Jun 30, 2026Close95.406Jul 2, 2026Close94.344Jul 7, 2026Close93.438Jul 9, 2026Close93.313Jul 13, 2026Close92.656Jul 15, 2026Close93.000Jul 17, 2026Close93.156Jul 21, 2026Close92.250Jul 23, 2026Close91.688Jul 27, 2026Close92.313Jul 29, 2026Close91.219Jul 31, 2026Close90.281Aug 4, 2026Close91.438Aug 6, 2026Close91.000Aug 10, 2026Close90.563Aug 12, 2026Close90.594Aug 14, 2026Close90.406Aug 18, 2026Close90.000Aug 20, 2026Close90.750Aug 24, 2026Close90.781Aug 26, 2026Close91.438Aug 28, 2026Close91.000Sep 1, 2026Close90.281Sep 3, 2026Close90.563Sep 8, 2026Close90.469Sep 10, 2026Close88.906Sep 14, 2026Close89.344Sep 16, 2026Close89.125Sep 18, 2026Close89.344Sep 22, 2026Close89.938Sep 24, 2026Close87.531Sep 28, 2026Close86.375Sep 30, 2026Close85.375Oct 2, 2026Close85.406Oct 6, 2026Close85.313Oct 8, 2026Close85.781Oct 13, 2026Close86.375Oct 15, 2026Close88.094Oct 19, 2026Close87.438Oct 21, 2026Close88.250Oct 23, 2026Close89.531Oct 27, 2026Close89.875Oct 29, 2026Close89.625Nov 2, 2026Close90.094Nov 4, 2026Close90.125Nov 6, 2026Close90.375Nov 9, 2026Close90.313
The most recent 20 trading days of prices for 912810UP1.
DateBidOfferClose
Nov 9, 202690.31390.32890.313
Nov 6, 202690.46990.48490.375
Nov 5, 202690.46990.50090.531
Nov 4, 202689.81389.82890.125
Nov 3, 202689.78189.79789.594
Nov 2, 202690.50090.51690.094
Oct 30, 202689.65689.67289.656
Oct 29, 202689.65689.67289.625
Oct 28, 202689.50089.51688.906
Oct 27, 202689.81389.82889.875
Oct 26, 202689.78189.79789.750
Oct 23, 202689.68889.70389.531
Oct 22, 202689.46989.48490.063
Oct 21, 202688.37588.39188.250
Oct 20, 202688.15688.18888.219
Oct 19, 202687.71987.73487.438
Oct 16, 202688.31388.32888.156
Oct 15, 202688.09488.12588.094
Oct 14, 202686.25086.28186.844
Oct 13, 202686.34486.35986.375

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 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.