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
1.2190
Real duration
0.003 yr
DV01
0.0000
Convexity
0.000
Real clean price
100.000
Accrued (real)
0.932
Real dirty price
100.932
Indexed principal
121.899
Money clean price
121.899
The index ratio is a multiplier, not a percentage: 1.2190 means the principal is worth that many times its original face today. So the real clean price of 100.000 is not what a buyer pays , multiply by the ratio to get 121.899 per 100 of original face.
Against the fitted real curve
Priced 0.79 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, 1,716 observations
Price history
1,717 trading days to Jul 14, 2015
The most recent 20 trading days of prices for 912828EA4.
Date
Bid
Offer
Close
Jul 14, 2015
–
99.969
100.000
Jul 13, 2015
–
100.000
100.000
Jul 10, 2015
–
99.969
100.031
Jul 9, 2015
–
100.063
100.000
Jul 8, 2015
–
100.094
100.125
Jul 7, 2015
–
100.094
100.094
Jul 6, 2015
–
100.125
100.125
Jul 2, 2015
–
100.156
100.125
Jul 1, 2015
–
100.250
100.219
Jun 30, 2015
–
100.344
100.281
Jun 29, 2015
–
100.313
100.281
Jun 26, 2015
–
100.313
100.313
Jun 25, 2015
–
100.344
100.313
Jun 24, 2015
–
100.344
100.344
Jun 23, 2015
–
100.375
100.375
Jun 22, 2015
–
100.375
100.375
Jun 19, 2015
–
100.375
100.375
Jun 18, 2015
–
100.406
100.469
Jun 17, 2015
–
100.469
100.438
Jun 16, 2015
–
100.500
100.469
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.
2 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.