Treasury note

912828YB0 · 1.625% due August 15, 2029

Original term
10-Year
Maturity
Aug 15, 2029
Coupon
1.625%
Pays
Semi-Annual
Dated
Aug 15, 2019
First coupon
Feb 15, 2020
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$92.62bn
Held stripped
$54.1m
Share stripped
0.06%

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, September 10, 2026

Yield to maturity
4.637%
Modified duration
2.799 yr
DV01
0.0257
Convexity
9.308
Dirty price
91.963

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. Concentrated in 5 of twelve buckets, summing to 2.863 years against a modified duration of 2.799.

Against the fitted curve

Priced 4.1 bp rich to the curve on that day, 10.60 cents per 100 of face.

That is -1.40 standard deviations from its own typical residual.

Yield to maturity, 1,770 observations

0%1%2%3%4%5%Aug 15, 2019Sep 10, 2026Aug 15, 2019Yield to maturity1.524%Oct 15, 2019Yield to maturity1.767%Dec 13, 2019Yield to maturity1.830%Feb 13, 2020Yield to maturity1.611%Apr 14, 2020Yield to maturity0.730%Jun 11, 2020Yield to maturity0.615%Aug 10, 2020Yield to maturity0.523%Oct 7, 2020Yield to maturity0.706%Dec 8, 2020Yield to maturity0.807%Feb 8, 2021Yield to maturity1.018%Apr 7, 2021Yield to maturity1.509%Jun 4, 2021Yield to maturity1.390%Aug 3, 2021Yield to maturity1.035%Sep 30, 2021Yield to maturity1.373%Dec 1, 2021Yield to maturity1.342%Jan 31, 2022Yield to maturity1.740%Mar 30, 2022Yield to maturity2.406%May 27, 2022Yield to maturity2.740%Jul 28, 2022Yield to maturity2.667%Sep 26, 2022Yield to maturity4.021%Nov 25, 2022Yield to maturity3.753%Jan 26, 2023Yield to maturity3.502%Mar 27, 2023Yield to maturity3.572%May 23, 2023Yield to maturity3.721%Jul 24, 2023Yield to maturity4.017%Sep 20, 2023Yield to maturity4.466%Nov 17, 2023Yield to maturity4.441%Jan 19, 2024Yield to maturity4.055%Mar 19, 2024Yield to maturity4.264%May 15, 2024Yield to maturity4.347%Jul 16, 2024Yield to maturity4.093%Sep 12, 2024Yield to maturity3.477%Nov 12, 2024Yield to maturity4.302%Jan 13, 2025Yield to maturity4.561%Mar 13, 2025Yield to maturity3.988%May 9, 2025Yield to maturity3.922%Jul 10, 2025Yield to maturity3.863%Sep 8, 2025Yield to maturity3.476%Nov 5, 2025Yield to maturity3.663%Jan 7, 2026Yield to maturity3.573%Mar 9, 2026Yield to maturity3.594%May 5, 2026Yield to maturity3.974%Jul 6, 2026Yield to maturity4.134%Sep 1, 2026Yield to maturity4.444%Sep 10, 2026Yield to maturity4.637%

Price history

1,770 trading days to Sep 10, 2026

80859095100105110115Aug 15, 2019Sep 10, 2026Aug 15, 2019Close100.938Oct 15, 2019Close98.719Dec 13, 2019Close98.188Feb 13, 2020Close100.125Apr 14, 2020Close108.063Jun 11, 2020Close109.000Aug 10, 2020Close109.688Oct 7, 2020Close107.875Dec 8, 2020Close106.844Feb 8, 2021Close104.938Apr 7, 2021Close100.906Jun 4, 2021Close101.813Aug 3, 2021Close104.531Sep 30, 2021Close101.875Dec 1, 2021Close102.063Jan 31, 2022Close99.188Mar 30, 2022Close94.750May 27, 2022Close92.750Jul 28, 2022Close93.344Sep 26, 2022Close85.719Nov 25, 2022Close87.469Jan 26, 2023Close89.094Mar 27, 2023Close88.969May 23, 2023Close88.438Jul 24, 2023Close87.250Sep 20, 2023Close85.406Nov 17, 2023Close85.875Jan 19, 2024Close88.000Mar 19, 2024Close87.375May 15, 2024Close87.344Jul 16, 2024Close88.781Sep 12, 2024Close91.688Nov 12, 2024Close88.594Jan 13, 2025Close87.969Mar 13, 2025Close90.500May 9, 2025Close91.063Jul 10, 2025Close91.594Sep 8, 2025Close93.250Nov 5, 2025Close92.875Jan 7, 2026Close93.469Mar 9, 2026Close93.688May 5, 2026Close92.844Jul 6, 2026Close92.750Sep 1, 2026Close92.281Sep 10, 2026Close91.844
The most recent 20 trading days of prices for 912828YB0.
DateBidOfferClose
Sep 10, 202691.93891.90691.844
Sep 9, 202692.21992.18892.188
Sep 8, 202692.32892.31392.281
Sep 4, 202692.37592.34492.313
Sep 3, 202692.46992.43892.406
Sep 2, 202692.31392.28192.281
Sep 1, 202692.35992.34492.281
Aug 31, 202692.42292.40692.406
Aug 28, 202692.48492.46992.406
Aug 27, 202692.73492.71992.656
Aug 26, 202692.73492.71992.688
Aug 25, 202692.76692.75092.750
Aug 24, 202692.68892.65692.625
Aug 21, 202692.62592.59492.625
Aug 20, 202692.71992.68892.719
Aug 19, 202692.73492.71992.750
Aug 18, 202692.75092.71992.719
Aug 17, 202692.76692.75092.719
Aug 14, 202692.81392.78192.719
Aug 13, 202692.82892.81392.813

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 912828YB0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 7, 2019Aug 15, 2019New issue$27.0bn$44.6bn2.20x1.670%
Sep 11, 2019Sep 16, 2019Reopening$24.0bn$24.0bn2.46x1.739%
Oct 9, 2019Oct 15, 2019Reopening$24.0bn$24.0bn2.43x1.590%

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.