Inflation-linked (TIPS)

91282CFR7 · 1.625% due October 15, 2027

Original term
5-Year
Maturity
Oct 15, 2027
Coupon
1.625%
Pays
Semi-Annual
Dated
Oct 15, 2022
First coupon
Apr 15, 2023
Priced through
Nov 9, 2026
Analyzed through
not analyzed

Statement of October 31, 2026

Amount outstanding
$45.19bn
Held stripped
$0.0m
Share stripped
0.00%

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. For an inflation-linked security the difference is mostly inflation rather than float: Treasury reports what a holder is owed today, which includes the uplift shown as the index ratio above, while the index keeps original par and carries the uplift in the price. The index figures are published per holding.

Inflation-linked measures, November 9, 2026

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
2.550%
Index ratio
1.1328
Real duration
0.913 yr
DV01
0.0091
Convexity
0.0129
Real clean price
99.156
Accrued (real)
0.116
Real dirty price
99.272
Indexed principal
113.280
Money clean price
112.324

The index ratio is a multiplier, not a percentage: 1.1328 means the principal is worth that many times its original face today. So the real clean price of 99.156 is not what a buyer pays , multiply by the ratio to get 112.324 per 100 of original face.

Against the fitted real curve

Priced 8.2 bp rich to the real curve on that day, 7.46 cents per 100 of face.

That is 1.51 standard deviations from its own typical residual.

Real yield, 1,006 observations

0.0%0.5%1.0%1.5%2.0%2.5%3.0%Oct 31, 2022Nov 9, 2026Oct 31, 2022Real yield1.605%Nov 7, 2022Real yield1.718%Nov 15, 2022Real yield1.532%Nov 22, 2022Real yield1.585%Nov 30, 2022Real yield1.412%Dec 7, 2022Real yield1.298%Dec 14, 2022Real yield1.397%Dec 21, 2022Real yield1.470%Dec 29, 2022Real yield1.625%Jan 6, 2023Real yield1.516%Jan 13, 2023Real yield1.406%Jan 23, 2023Real yield1.337%Jan 30, 2023Real yield1.384%Feb 6, 2023Real yield1.493%Feb 13, 2023Real yield1.493%Feb 21, 2023Real yield1.590%Feb 28, 2023Real yield1.611%Mar 7, 2023Real yield1.795%Mar 14, 2023Real yield1.441%Mar 21, 2023Real yield1.490%Mar 28, 2023Real yield1.298%Apr 4, 2023Real yield1.065%Apr 11, 2023Real yield1.189%Apr 18, 2023Real yield1.366%Apr 25, 2023Real yield1.157%May 2, 2023Real yield1.256%May 9, 2023Real yield1.269%May 16, 2023Real yield1.398%May 23, 2023Real yield1.551%May 31, 2023Real yield1.677%Jun 7, 2023Real yield1.782%Jun 14, 2023Real yield1.919%Jun 22, 2023Real yield1.867%Jun 29, 2023Real yield2.030%Jul 7, 2023Real yield2.164%Jul 14, 2023Real yield1.948%Jul 21, 2023Real yield1.919%Jul 28, 2023Real yield1.951%Aug 4, 2023Real yield1.921%Aug 11, 2023Real yield2.049%Aug 18, 2023Real yield2.195%Aug 25, 2023Real yield2.222%Sep 1, 2023Real yield2.144%Sep 11, 2023Real yield2.146%Sep 18, 2023Real yield2.189%Sep 25, 2023Real yield2.373%Oct 2, 2023Real yield2.493%Oct 10, 2023Real yield2.439%Oct 17, 2023Real yield2.527%Oct 24, 2023Real yield2.532%Oct 31, 2023Real yield2.502%Nov 7, 2023Real yield2.310%Nov 14, 2023Real yield2.288%Nov 21, 2023Real yield2.316%Nov 29, 2023Real yield2.174%Dec 6, 2023Real yield2.177%Dec 13, 2023Real yield2.007%Dec 20, 2023Real yield1.812%Dec 28, 2023Real yield1.830%Jan 5, 2024Real yield1.936%Jan 12, 2024Real yield1.694%Jan 22, 2024Real yield1.834%Jan 29, 2024Real yield1.773%Feb 5, 2024Real yield1.942%Feb 12, 2024Real yield1.908%Feb 20, 2024Real yield1.910%Feb 27, 2024Real yield1.975%Mar 5, 2024Real yield1.777%Mar 12, 2024Real yield1.851%Mar 19, 2024Real yield1.962%Mar 26, 2024Real yield1.899%Apr 3, 2024Real yield1.966%Apr 10, 2024Real yield2.173%Apr 17, 2024Real yield2.176%Apr 24, 2024Real yield2.198%May 1, 2024Real yield2.249%May 8, 2024Real yield2.204%May 15, 2024Real yield2.111%May 22, 2024Real yield2.181%May 30, 2024Real yield2.253%Jun 6, 2024Real yield2.110%Jun 13, 2024Real yield2.171%Jun 21, 2024Real yield2.156%Jun 28, 2024Real yield2.139%Jul 8, 2024Real yield2.062%Jul 15, 2024Real yield1.974%Jul 22, 2024Real yield2.037%Jul 29, 2024Real yield1.968%Aug 5, 2024Real yield1.746%Aug 12, 2024Real yield1.788%Aug 19, 2024Real yield1.840%Aug 26, 2024Real yield1.645%Sep 3, 2024Real yield1.697%Sep 10, 2024Real yield1.552%Sep 17, 2024Real yield1.396%Sep 24, 2024Real yield1.290%Oct 1, 2024Real yield1.340%Oct 8, 2024Real yield1.582%Oct 16, 2024Real yield1.539%Oct 23, 2024Real yield1.690%Oct 30, 2024Real yield1.723%Nov 6, 2024Real yield1.680%Nov 14, 2024Real yield1.780%Nov 21, 2024Real yield1.736%Nov 29, 2024Real yield1.670%Dec 6, 2024Real yield1.647%Dec 13, 2024Real yield1.750%Dec 20, 2024Real yield1.912%Dec 30, 2024Real yield1.879%Jan 7, 2025Real yield1.822%Jan 14, 2025Real yield1.753%Jan 22, 2025Real yield1.672%Jan 29, 2025Real yield1.554%Feb 5, 2025Real yield1.387%Feb 12, 2025Real yield1.493%Feb 20, 2025Real yield1.347%Feb 27, 2025Real yield1.201%Mar 6, 2025Real yield1.185%Mar 13, 2025Real yield1.170%Mar 20, 2025Real yield1.154%Mar 27, 2025Real yield1.101%Apr 3, 2025Real yield0.788%Apr 10, 2025Real yield1.144%Apr 17, 2025Real yield1.064%Apr 25, 2025Real yield0.943%May 2, 2025Real yield1.041%May 9, 2025Real yield1.024%May 16, 2025Real yield1.189%May 23, 2025Real yield1.172%Jun 2, 2025Real yield1.168%Jun 9, 2025Real yield1.313%Jun 16, 2025Real yield1.310%Jun 24, 2025Real yield1.170%Jul 1, 2025Real yield1.125%Jul 9, 2025Real yield1.093%Jul 16, 2025Real yield1.004%Jul 23, 2025Real yield1.041%Jul 30, 2025Real yield1.079%Aug 6, 2025Real yield0.931%Aug 13, 2025Real yield0.881%Aug 20, 2025Real yield0.933%Aug 27, 2025Real yield0.678%Sep 4, 2025Real yield0.757%Sep 11, 2025Real yield0.749%Sep 18, 2025Real yield0.741%Sep 25, 2025Real yield0.855%Oct 2, 2025Real yield0.802%Oct 9, 2025Real yield0.825%Oct 17, 2025Real yield0.799%Oct 24, 2025Real yield0.807%Oct 31, 2025Real yield1.008%Nov 7, 2025Real yield1.034%Nov 17, 2025Real yield1.093%Nov 24, 2025Real yield1.088%Dec 2, 2025Real yield1.099%Dec 9, 2025Real yield1.179%Dec 16, 2025Real yield1.191%Dec 23, 2025Real yield1.221%Dec 31, 2025Real yield1.198%Jan 8, 2026Real yield1.069%Jan 15, 2026Real yield1.081%Jan 23, 2026Real yield0.963%Jan 30, 2026Real yield0.697%Feb 6, 2026Real yield0.724%Feb 13, 2026Real yield0.731%Feb 23, 2026Real yield0.721%Mar 2, 2026Real yield0.633%Mar 9, 2026Real yield0.505%Mar 16, 2026Real yield0.570%Mar 23, 2026Real yield0.717%Mar 30, 2026Real yield0.585%Apr 6, 2026Real yield0.613%Apr 13, 2026Real yield0.600%Apr 20, 2026Real yield0.629%Apr 27, 2026Real yield0.467%May 4, 2026Real yield0.495%May 11, 2026Real yield0.655%May 18, 2026Real yield0.730%May 26, 2026Real yield1.032%Jun 2, 2026Real yield1.024%Jun 9, 2026Real yield1.156%Jun 16, 2026Real yield1.481%Jun 24, 2026Real yield1.965%Jul 1, 2026Real yield2.045%Jul 9, 2026Real yield2.001%Jul 16, 2026Real yield2.161%Jul 23, 2026Real yield2.247%Jul 30, 2026Real yield2.337%Aug 6, 2026Real yield2.402%Aug 13, 2026Real yield2.305%Aug 20, 2026Real yield2.066%Aug 27, 2026Real yield2.046%Sep 3, 2026Real yield1.967%Sep 11, 2026Real yield2.093%Sep 18, 2026Real yield2.281%Sep 25, 2026Real yield2.324%Oct 2, 2026Real yield2.119%Oct 9, 2026Real yield2.067%Oct 19, 2026Real yield1.914%Oct 26, 2026Real yield1.854%Nov 2, 2026Real yield2.060%Nov 9, 2026Real yield2.550%

Price history

1,006 trading days to Nov 9, 2026

96979899100101102103Oct 31, 2022Nov 9, 2026Oct 31, 2022Close100.094Nov 7, 2022Close99.563Nov 15, 2022Close100.438Nov 22, 2022Close100.188Nov 30, 2022Close101.000Dec 7, 2022Close101.531Dec 14, 2022Close101.063Dec 21, 2022Close100.719Dec 29, 2022Close100.000Jan 6, 2023Close100.500Jan 13, 2023Close101.000Jan 23, 2023Close101.313Jan 30, 2023Close101.094Feb 6, 2023Close100.594Feb 13, 2023Close100.594Feb 21, 2023Close100.156Feb 28, 2023Close100.063Mar 7, 2023Close99.250Mar 14, 2023Close100.813Mar 21, 2023Close100.594Mar 28, 2023Close101.438Apr 4, 2023Close102.469Apr 11, 2023Close101.906Apr 18, 2023Close101.125Apr 25, 2023Close102.031May 2, 2023Close101.594May 9, 2023Close101.531May 16, 2023Close100.969May 23, 2023Close100.313May 31, 2023Close99.781Jun 7, 2023Close99.344Jun 14, 2023Close98.781Jun 22, 2023Close99.000Jun 29, 2023Close98.344Jul 7, 2023Close97.813Jul 14, 2023Close98.688Jul 21, 2023Close98.813Jul 28, 2023Close98.688Aug 4, 2023Close98.813Aug 11, 2023Close98.313Aug 18, 2023Close97.750Aug 25, 2023Close97.656Sep 1, 2023Close97.969Sep 11, 2023Close97.969Sep 18, 2023Close97.813Sep 25, 2023Close97.125Oct 2, 2023Close96.688Oct 10, 2023Close96.906Oct 17, 2023Close96.594Oct 24, 2023Close96.594Oct 31, 2023Close96.719Nov 7, 2023Close97.438Nov 14, 2023Close97.531Nov 21, 2023Close97.438Nov 29, 2023Close97.969Dec 6, 2023Close97.969Dec 13, 2023Close98.594Dec 20, 2023Close99.313Dec 28, 2023Close99.250Jan 5, 2024Close98.875Jan 12, 2024Close99.750Jan 22, 2024Close99.250Jan 29, 2024Close99.469Feb 5, 2024Close98.875Feb 12, 2024Close99.000Feb 20, 2024Close99.000Feb 27, 2024Close98.781Mar 5, 2024Close99.469Mar 12, 2024Close99.219Mar 19, 2024Close98.844Mar 26, 2024Close99.063Apr 3, 2024Close98.844Apr 10, 2024Close98.156Apr 17, 2024Close98.156Apr 24, 2024Close98.094May 1, 2024Close97.938May 8, 2024Close98.094May 15, 2024Close98.406May 22, 2024Close98.188May 30, 2024Close97.969Jun 6, 2024Close98.438Jun 13, 2024Close98.250Jun 21, 2024Close98.313Jun 28, 2024Close98.375Jul 8, 2024Close98.625Jul 15, 2024Close98.906Jul 22, 2024Close98.719Jul 29, 2024Close98.938Aug 5, 2024Close99.625Aug 12, 2024Close99.500Aug 19, 2024Close99.344Aug 26, 2024Close99.938Sep 3, 2024Close99.781Sep 10, 2024Close100.219Sep 17, 2024Close100.688Sep 24, 2024Close101.000Oct 1, 2024Close100.844Oct 8, 2024Close100.125Oct 16, 2024Close100.250Oct 23, 2024Close99.813Oct 30, 2024Close99.719Nov 6, 2024Close99.844Nov 14, 2024Close99.563Nov 21, 2024Close99.688Nov 29, 2024Close99.875Dec 6, 2024Close99.938Dec 13, 2024Close99.656Dec 20, 2024Close99.219Dec 30, 2024Close99.313Jan 7, 2025Close99.469Jan 14, 2025Close99.656Jan 22, 2025Close99.875Jan 29, 2025Close100.188Feb 5, 2025Close100.625Feb 12, 2025Close100.344Feb 20, 2025Close100.719Feb 27, 2025Close101.094Mar 6, 2025Close101.125Mar 13, 2025Close101.156Mar 20, 2025Close101.188Mar 27, 2025Close101.313Apr 3, 2025Close102.094Apr 10, 2025Close101.188Apr 17, 2025Close101.375Apr 25, 2025Close101.656May 2, 2025Close101.406May 9, 2025Close101.438May 16, 2025Close101.031May 23, 2025Close101.063Jun 2, 2025Close101.063Jun 9, 2025Close100.719Jun 16, 2025Close100.719Jun 24, 2025Close101.031Jul 1, 2025Close101.125Jul 9, 2025Close101.188Jul 16, 2025Close101.375Jul 23, 2025Close101.281Jul 30, 2025Close101.188Aug 6, 2025Close101.500Aug 13, 2025Close101.594Aug 20, 2025Close101.469Aug 27, 2025Close102.000Sep 4, 2025Close101.813Sep 11, 2025Close101.813Sep 18, 2025Close101.813Sep 25, 2025Close101.563Oct 2, 2025Close101.656Oct 9, 2025Close101.594Oct 17, 2025Close101.625Oct 24, 2025Close101.594Oct 31, 2025Close101.188Nov 7, 2025Close101.125Nov 17, 2025Close101.000Nov 24, 2025Close101.000Dec 2, 2025Close100.969Dec 9, 2025Close100.813Dec 16, 2025Close100.781Dec 23, 2025Close100.719Dec 31, 2025Close100.750Jan 8, 2026Close100.969Jan 15, 2026Close100.938Jan 23, 2026Close101.125Jan 30, 2026Close101.563Feb 6, 2026Close101.500Feb 13, 2026Close101.469Feb 23, 2026Close101.469Mar 2, 2026Close101.594Mar 9, 2026Close101.781Mar 16, 2026Close101.656Mar 23, 2026Close101.406Mar 30, 2026Close101.594Apr 6, 2026Close101.531Apr 13, 2026Close101.531Apr 20, 2026Close101.469Apr 27, 2026Close101.688May 4, 2026Close101.625May 11, 2026Close101.375May 18, 2026Close101.250May 26, 2026Close100.813Jun 2, 2026Close100.813Jun 9, 2026Close100.625Jun 16, 2026Close100.188Jun 24, 2026Close99.563Jul 1, 2026Close99.469Jul 9, 2026Close99.531Jul 16, 2026Close99.344Jul 23, 2026Close99.250Jul 30, 2026Close99.156Aug 6, 2026Close99.094Aug 13, 2026Close99.219Aug 20, 2026Close99.500Aug 27, 2026Close99.531Sep 3, 2026Close99.625Sep 11, 2026Close99.500Sep 18, 2026Close99.313Sep 25, 2026Close99.281Oct 2, 2026Close99.500Oct 9, 2026Close99.563Oct 19, 2026Close99.719Oct 26, 2026Close99.781Nov 2, 2026Close99.594Nov 9, 2026Close99.156
The most recent 20 trading days of prices for 91282CFR7.
DateBidOfferClose
Nov 9, 202699.18899.21999.156
Nov 6, 202699.28199.32899.313
Nov 5, 202699.31399.35999.344
Nov 4, 202699.43899.46999.313
Nov 3, 202699.56399.59499.563
Nov 2, 202699.62599.65699.594
Oct 30, 202699.81399.82899.781
Oct 29, 202699.75099.78199.781
Oct 28, 202699.75099.78199.813
Oct 27, 202699.75099.78199.750
Oct 26, 202699.78199.81399.781
Oct 23, 202699.81399.84499.844
Oct 22, 202699.78199.81399.844
Oct 21, 202699.71999.75099.719
Oct 20, 202699.68899.71999.688
Oct 19, 202699.71999.75099.719
Oct 16, 202699.68899.71999.781
Oct 15, 202699.59499.64199.656
Oct 14, 202699.56399.59499.594
Oct 13, 202699.53199.56399.500

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

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.

Auction history for 91282CFR7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 20, 2022Oct 31, 2022New issue$21.0bn$21.0bn2.38x1.732%
Dec 22, 2022Dec 30, 2022Reopening$19.0bn$19.0bn2.51x1.504%

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.