Treasury note · Matured

912828HV5 · 2.5% due March 31, 2013

Original term
5-Year
Maturity
Mar 31, 2013
Coupon
2.500%
Pays
Semi-Annual
Dated
Mar 31, 2008
First coupon
Sep 30, 2008
Priced through
Mar 28, 2013
Analyzed through
Mar 28, 2013

Risk, March 28, 2013

Yield to maturity
withheld
Modified duration
0.005 yr
DV01
0.0001
Convexity
0.000
Dirty price
101.236

Yield and duration are withheld this close to maturity, not missing. Inside a month a Treasury trades on settlement mechanics rather than on yield, and its price is a rounding of par, annualizing a two-day stub produces a number in the tens of percent that would be arithmetically correct and completely misleading. The price, the residual and the key rate durations below are unaffected.

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. All of it sits at 3M. For a security with a single remaining cashflow that is the true shape, not missing data.

Against the fitted curve

Priced 1.26 cents per 100 of face cheap to the curve on that day.

Shown as a price rather than a yield. This security was close enough to maturity that annualizing is meaningless, the same reason it carries no yield to maturity above, and the same difference quoted in basis points would read as an enormous mispricing rather than the few cents it is.

Yield to maturity, 1,145 observations

-0.50%0.00%0.50%1.00%1.50%2.00%2.50%3.00%Sep 2, 2008Mar 28, 2013Sep 2, 2008Yield to maturity2.889%Oct 9, 2008Yield to maturity2.664%Nov 19, 2008Yield to maturity1.759%Dec 30, 2008Yield to maturity0.979%Feb 9, 2009Yield to maturity1.644%Mar 19, 2009Yield to maturity1.365%Apr 28, 2009Yield to maturity1.600%Jun 5, 2009Yield to maturity2.242%Jul 15, 2009Yield to maturity1.955%Aug 21, 2009Yield to maturity1.931%Sep 30, 2009Yield to maturity1.641%Nov 9, 2009Yield to maturity1.568%Dec 18, 2009Yield to maturity1.422%Jan 29, 2010Yield to maturity1.434%Mar 10, 2010Yield to maturity1.440%Apr 16, 2010Yield to maturity1.478%May 25, 2010Yield to maturity1.102%Jul 1, 2010Yield to maturity0.839%Aug 10, 2010Yield to maturity0.598%Sep 17, 2010Yield to maturity0.591%Oct 27, 2010Yield to maturity0.461%Dec 7, 2010Yield to maturity0.604%Jan 14, 2011Yield to maturity0.621%Feb 24, 2011Yield to maturity0.751%Apr 4, 2011Yield to maturity0.753%May 12, 2011Yield to maturity0.496%Jun 21, 2011Yield to maturity0.324%Jul 29, 2011Yield to maturity0.332%Sep 7, 2011Yield to maturity0.192%Oct 17, 2011Yield to maturity0.233%Nov 25, 2011Yield to maturity0.208%Jan 5, 2012Yield to maturity0.188%Feb 14, 2012Yield to maturity0.241%Mar 23, 2012Yield to maturity0.245%May 1, 2012Yield to maturity0.236%Jun 8, 2012Yield to maturity0.240%Jul 18, 2012Yield to maturity0.174%Aug 24, 2012Yield to maturity0.178%Oct 3, 2012Yield to maturity0.197%Nov 14, 2012Yield to maturity0.156%Dec 24, 2012Yield to maturity0.104%Feb 4, 2013Yield to maturity0.181%

Price history

1,145 trading days to Mar 28, 2013

9698100102104106108Sep 2, 2008Mar 28, 2013Sep 2, 2008Close98.344Oct 9, 2008Close99.313Nov 19, 2008Close103.094Dec 30, 2008Close106.313Feb 9, 2009Close103.406Mar 19, 2009Close104.438Apr 28, 2009Close103.406Jun 5, 2009Close100.938Jul 15, 2009Close101.938Aug 21, 2009Close101.969Sep 30, 2009Close102.906Nov 9, 2009Close103.063Dec 18, 2009Close103.438Jan 29, 2010Close103.281Mar 10, 2010Close103.156Apr 16, 2010Close102.938May 25, 2010Close103.906Jul 1, 2010Close104.500Aug 10, 2010Close104.969Sep 17, 2010Close104.781Oct 27, 2010Close104.906Dec 7, 2010Close104.344Jan 14, 2011Close104.094Feb 24, 2011Close103.625Apr 4, 2011Close103.438May 12, 2011Close103.750Jun 21, 2011Close103.844Jul 29, 2011Close103.594Sep 7, 2011Close103.594Oct 17, 2011Close103.281Nov 25, 2011Close103.063Jan 5, 2012Close102.844Feb 14, 2012Close102.531Mar 23, 2012Close102.281May 1, 2012Close102.063Jun 8, 2012Close101.813Jul 18, 2012Close101.625Aug 24, 2012Close101.375Oct 3, 2012Close101.125Nov 14, 2012Close100.875Dec 24, 2012Close100.625Feb 4, 2013Close100.344Mar 14, 2013Close100.094Mar 28, 2013Close100.000
The most recent 20 trading days of prices for 912828HV5.
DateBidOfferClose
Mar 28, 2013–100.000100.000
Mar 27, 2013–100.000100.027
Mar 26, 2013–100.031100.031
Mar 25, 2013–100.031100.031
Mar 22, 2013–100.031100.031
Mar 21, 2013–100.063100.063
Mar 20, 2013–100.063100.063
Mar 19, 2013–100.063100.063
Mar 18, 2013–100.063100.063
Mar 15, 2013–100.094100.094
Mar 14, 2013–100.094100.094
Mar 13, 2013–100.124100.094
Mar 12, 2013–100.125100.125
Mar 11, 2013–100.125100.125
Mar 8, 2013–100.125100.125
Mar 7, 2013–100.156100.125
Mar 6, 2013–100.156100.156
Mar 5, 2013–100.156100.156
Mar 4, 2013–100.156100.156
Mar 1, 2013–100.188100.188

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.

Auction

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 912828HV5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 27, 2008Mar 31, 2008New issue$18.0bn$20.6bn1.98x2.595%

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.