Treasury note · Matured

912828QB9 · 2.875% due March 31, 2018

Original term: 7-Year
Maturity: Mar 31, 2018
Coupon: 2.875%
Pays: Semi-Annual
Dated: Mar 31, 2011
First coupon: Sep 30, 2011
Priced through: Mar 29, 2018
Analyzed through: Mar 29, 2018

Risk, March 29, 2018

Yield to maturity: withheld
Modified duration: 0.003 yr
DV01: 0.0000
Convexity: 0.000
Dirty price: 101.430

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

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 0.33 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, 1,749 observations

Price history

1,749 trading days to Mar 29, 2018

The most recent 20 trading days of prices for 912828QB9.
Date	Bid	Offer	Close
Mar 29, 2018	–	100.000	100.000
Mar 28, 2018	–	100.000	100.000
Mar 27, 2018	–	100.000	100.000
Mar 26, 2018	–	100.000	100.000
Mar 23, 2018	–	100.000	100.000
Mar 22, 2018	–	100.000	100.000
Mar 21, 2018	–	100.031	100.031
Mar 20, 2018	–	100.031	100.031
Mar 19, 2018	–	100.031	100.000
Mar 16, 2018	–	100.031	100.031
Mar 15, 2018	–	100.031	100.031
Mar 14, 2018	–	100.031	100.031
Mar 13, 2018	–	100.063	100.031
Mar 12, 2018	–	100.031	100.031
Mar 9, 2018	–	100.063	100.063
Mar 8, 2018	–	100.063	100.063
Mar 7, 2018	–	100.063	100.063
Mar 6, 2018	–	100.094	100.094
Mar 5, 2018	–	100.094	100.094
Mar 2, 2018	–	100.094	100.094

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 912828QB9.
Auction date	Issued	Type	Offered	Accepted	Bid to cover	High yield
Mar 30, 2011	Mar 31, 2011	New issue	$29.0bn	$30.3bn	2.79x	2.895%

The curve this was priced against →