Treasury bond

912810UW6 · 5.125% due August 15, 2056

Original term
30-Year
Maturity
Aug 15, 2056
Coupon
5.125%
Pays
Semi-Annual
Dated
Aug 15, 2026
First coupon
Feb 15, 2027
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$53.32bn
Held stripped
$3.90bn
Share stripped
7.32%

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, October 20, 2026

Yield to maturity
5.424%
Modified duration
14.725 yr
DV01
0.1421
Convexity
3.28
Dirty price
96.527

Where its rate sensitivity sits

0.01
0.01
0.04
0.10
0.22
0.41
0.67
1.29
1.76
1.75
1.89
6.81
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 14.964 years against a modified duration of 14.725.

Against the fitted curve

Priced 0.4 bp cheap to the curve on that day, 5.09 cents per 100 of face.

That is 0.52 standard deviations from its own typical residual.

Yield to maturity, 45 observations

5.1%5.2%5.3%5.4%5.5%5.6%5.7%Aug 17, 2026Oct 20, 2026Aug 17, 2026Yield to maturity5.309%Aug 18, 2026Yield to maturity5.286%Aug 19, 2026Yield to maturity5.193%Aug 20, 2026Yield to maturity5.231%Aug 21, 2026Yield to maturity5.275%Aug 24, 2026Yield to maturity5.233%Aug 25, 2026Yield to maturity5.170%Aug 26, 2026Yield to maturity5.183%Aug 27, 2026Yield to maturity5.191%Aug 28, 2026Yield to maturity5.216%Aug 31, 2026Yield to maturity5.248%Sep 1, 2026Yield to maturity5.267%Sep 2, 2026Yield to maturity5.267%Sep 3, 2026Yield to maturity5.248%Sep 4, 2026Yield to maturity5.243%Sep 8, 2026Yield to maturity5.254%Sep 9, 2026Yield to maturity5.281%Sep 10, 2026Yield to maturity5.369%Sep 11, 2026Yield to maturity5.352%Sep 14, 2026Yield to maturity5.339%Sep 15, 2026Yield to maturity5.363%Sep 16, 2026Yield to maturity5.354%Sep 17, 2026Yield to maturity5.286%Sep 18, 2026Yield to maturity5.337%Sep 21, 2026Yield to maturity5.290%Sep 22, 2026Yield to maturity5.294%Sep 23, 2026Yield to maturity5.400%Sep 24, 2026Yield to maturity5.473%Sep 25, 2026Yield to maturity5.493%Sep 28, 2026Yield to maturity5.560%Sep 29, 2026Yield to maturity5.594%Sep 30, 2026Yield to maturity5.638%Oct 1, 2026Yield to maturity5.608%Oct 2, 2026Yield to maturity5.633%Oct 5, 2026Yield to maturity5.666%Oct 6, 2026Yield to maturity5.643%Oct 7, 2026Yield to maturity5.668%Oct 8, 2026Yield to maturity5.606%Oct 9, 2026Yield to maturity5.604%Oct 13, 2026Yield to maturity5.563%Oct 14, 2026Yield to maturity5.526%Oct 15, 2026Yield to maturity5.431%Oct 16, 2026Yield to maturity5.426%Oct 19, 2026Yield to maturity5.482%Oct 20, 2026Yield to maturity5.424%

Price history

45 trading days to Oct 20, 2026

92949698100Aug 17, 2026Oct 20, 2026Aug 17, 2026Close97.250Aug 18, 2026Close97.594Aug 19, 2026Close98.969Aug 20, 2026Close98.406Aug 21, 2026Close97.750Aug 24, 2026Close98.375Aug 25, 2026Close99.313Aug 26, 2026Close99.125Aug 27, 2026Close99.000Aug 28, 2026Close98.625Aug 31, 2026Close98.156Sep 1, 2026Close97.875Sep 2, 2026Close97.875Sep 3, 2026Close98.156Sep 4, 2026Close98.219Sep 8, 2026Close98.063Sep 9, 2026Close97.656Sep 10, 2026Close96.375Sep 11, 2026Close96.625Sep 14, 2026Close96.813Sep 15, 2026Close96.469Sep 16, 2026Close96.594Sep 17, 2026Close97.594Sep 18, 2026Close96.844Sep 21, 2026Close97.531Sep 22, 2026Close97.469Sep 23, 2026Close95.938Sep 24, 2026Close94.906Sep 25, 2026Close94.625Sep 28, 2026Close93.688Sep 29, 2026Close93.219Sep 30, 2026Close92.625Oct 1, 2026Close93.031Oct 2, 2026Close92.688Oct 5, 2026Close92.250Oct 6, 2026Close92.563Oct 7, 2026Close92.219Oct 8, 2026Close93.063Oct 9, 2026Close93.094Oct 13, 2026Close93.656Oct 14, 2026Close94.156Oct 15, 2026Close95.500Oct 16, 2026Close95.563Oct 19, 2026Close94.781Oct 20, 2026Close95.594
The most recent 20 trading days of prices for 912810UW6.
DateBidOfferClose
Oct 20, 202695.57895.56395.594
Oct 19, 202695.06395.06394.781
Oct 16, 202695.73495.71995.563
Oct 15, 202695.54795.53195.500
Oct 14, 202693.57893.56394.156
Oct 13, 202693.64193.62593.656
Oct 9, 202692.89192.87593.094
Oct 8, 202692.39192.37593.063
Oct 7, 202691.92291.90692.219
Oct 6, 202692.70392.68892.563
Oct 5, 202692.07892.06392.250
Oct 2, 202692.98492.96992.688
Oct 1, 202692.73492.71993.031
Sep 30, 202692.76692.75092.625
Sep 29, 202692.98492.96993.219
Sep 28, 202693.54793.53193.688
Sep 25, 202694.23494.21994.625
Sep 24, 202695.20395.18894.906
Sep 23, 202696.20396.18895.938
Sep 22, 202697.40697.40697.469

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 912810UW6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 13, 2026Aug 17, 2026New issue$25.0bn$31.3bn2.39x5.216%
Sep 10, 2026Sep 15, 2026Reopening$22.0bn$22.0bn2.61x5.308%
Oct 8, 2026Oct 15, 2026Reopening$22.0bn$22.5bn2.54x5.618%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.