An inflation-linked security prices off a real curve, so its yield is a real yield, a return above inflation rather than in cash terms, and its principal is indexed. The figures below are in REAL terms unless labeled otherwise.
Real yield
withheld
Index ratio
1.2791
Real duration
0.005 yr
DV01
0.0001
Convexity
0.000
Real clean price
99.938
Accrued (real)
1.484
Real dirty price
101.421
Indexed principal
127.909
Money clean price
127.829
The index ratio is a multiplier, not a percentage: 1.2791 means the principal is worth that many times its original face today. So the real clean price of 99.938 is not what a buyer pays , multiply by the ratio to get 127.829 per 100 of original face.
Against the fitted real curve
Priced 7.88 cents per 100 of face cheap to the real curve on that day.
Shown as a price rather than a yield. Less than a month of this security's life remained, and annualizing a stub that short is arithmetic rather than information, the same reason its real yield is withheld above.
Real yield, 969 observations
Price history
970 trading days to Jul 13, 2012
The most recent 20 trading days of prices for 912828AF7.
Date
Bid
Offer
Close
Jul 13, 2012
–
99.938
100.000
Jul 12, 2012
–
100.000
99.938
Jul 11, 2012
–
99.938
99.875
Jul 10, 2012
–
100.000
100.000
Jul 9, 2012
–
100.000
99.969
Jul 6, 2012
–
99.969
99.969
Jul 5, 2012
–
100.031
99.969
Jul 3, 2012
–
99.969
100.031
Jul 2, 2012
–
99.969
99.969
Jun 29, 2012
–
100.031
99.969
Jun 28, 2012
–
100.063
100.031
Jun 27, 2012
–
100.063
100.063
Jun 26, 2012
–
100.063
100.063
Jun 25, 2012
–
100.125
100.094
Jun 22, 2012
–
100.156
100.156
Jun 21, 2012
–
100.156
100.156
Jun 20, 2012
–
100.219
100.219
Jun 19, 2012
–
100.219
100.188
Jun 18, 2012
–
100.219
100.219
Jun 15, 2012
–
100.250
100.219
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.
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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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.