Inflation-linked (TIPS)

91282CLE9 · 1.875% due July 15, 2034

Original term
10-Year
Maturity
Jul 15, 2034
Coupon
1.875%
Pays
Semi-Annual
Dated
Jul 15, 2024
First coupon
Jan 15, 2025
Priced through
Nov 9, 2026
Analyzed through
not analyzed

Statement of October 31, 2026

Amount outstanding
$57.86bn
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
2.542%
Index ratio
1.0694
Real duration
7.039 yr
DV01
0.0676
Convexity
0.555
Real clean price
95.375
Accrued (real)
0.601
Real dirty price
95.976
Indexed principal
106.943
Money clean price
101.997

The index ratio is a multiplier, not a percentage: 1.0694 means the principal is worth that many times its original face today. So the real clean price of 95.375 is not what a buyer pays , multiply by the ratio to get 101.997 per 100 of original face.

Against the fitted real curve

Priced 1.5 bp rich to the real curve on that day, 10.03 cents per 100 of face.

That is 0.23 standard deviations from its own typical residual.

Real yield, 569 observations

1.50%1.75%2.00%2.25%2.50%2.75%3.00%Jul 31, 2024Nov 9, 2026Jul 31, 2024Real yield1.851%Aug 5, 2024Real yield1.710%Aug 8, 2024Real yield1.871%Aug 13, 2024Real yield1.754%Aug 16, 2024Real yield1.809%Aug 21, 2024Real yield1.716%Aug 26, 2024Real yield1.672%Aug 29, 2024Real yield1.706%Sep 4, 2024Real yield1.702%Sep 9, 2024Real yield1.657%Sep 12, 2024Real yield1.623%Sep 17, 2024Real yield1.531%Sep 20, 2024Real yield1.578%Sep 25, 2024Real yield1.609%Sep 30, 2024Real yield1.622%Oct 3, 2024Real yield1.635%Oct 8, 2024Real yield1.763%Oct 11, 2024Real yield1.749%Oct 17, 2024Real yield1.787%Oct 22, 2024Real yield1.868%Oct 25, 2024Real yield1.949%Oct 30, 2024Real yield1.946%Nov 4, 2024Real yield2.021%Nov 7, 2024Real yield1.971%Nov 13, 2024Real yield2.086%Nov 18, 2024Real yield2.072%Nov 21, 2024Real yield2.080%Nov 26, 2024Real yield2.018%Dec 2, 2024Real yield1.925%Dec 5, 2024Real yield1.907%Dec 10, 2024Real yield1.925%Dec 13, 2024Real yield2.055%Dec 18, 2024Real yield2.177%Dec 23, 2024Real yield2.258%Dec 27, 2024Real yield2.270%Jan 2, 2025Real yield2.219%Jan 7, 2025Real yield2.282%Jan 10, 2025Real yield2.332%Jan 15, 2025Real yield2.223%Jan 21, 2025Real yield2.172%Jan 24, 2025Real yield2.161%Jan 29, 2025Real yield2.095%Feb 3, 2025Real yield2.032%Feb 6, 2025Real yield1.966%Feb 11, 2025Real yield2.018%Feb 14, 2025Real yield1.981%Feb 20, 2025Real yield1.981%Feb 25, 2025Real yield1.849%Feb 28, 2025Real yield1.802%Mar 5, 2025Real yield1.875%Mar 10, 2025Real yield1.849%Mar 13, 2025Real yield1.908%Mar 18, 2025Real yield1.923%Mar 21, 2025Real yield1.857%Mar 26, 2025Real yield1.915%Mar 31, 2025Real yield1.772%Apr 3, 2025Real yield1.700%Apr 8, 2025Real yield1.971%Apr 11, 2025Real yield2.216%Apr 16, 2025Real yield2.046%Apr 22, 2025Real yield2.062%Apr 25, 2025Real yield1.942%Apr 30, 2025Real yield1.856%May 5, 2025Real yield1.998%May 8, 2025Real yield1.998%May 13, 2025Real yield2.086%May 16, 2025Real yield1.999%May 21, 2025Real yield2.136%May 27, 2025Real yield2.022%May 30, 2025Real yield1.973%Jun 4, 2025Real yield1.969%Jun 9, 2025Real yield2.091%Jun 12, 2025Real yield2.011%Jun 17, 2025Real yield1.981%Jun 23, 2025Real yield1.943%Jun 26, 2025Real yield1.879%Jul 1, 2025Real yield1.867%Jul 7, 2025Real yield1.939%Jul 10, 2025Real yield1.905%Jul 15, 2025Real yield1.978%Jul 18, 2025Real yield1.909%Jul 23, 2025Real yield1.909%Jul 28, 2025Real yield1.898%Jul 31, 2025Real yield1.894%Aug 5, 2025Real yield1.772%Aug 8, 2025Real yield1.791%Aug 13, 2025Real yield1.772%Aug 18, 2025Real yield1.867%Aug 21, 2025Real yield1.844%Aug 26, 2025Real yield1.730%Aug 29, 2025Real yield1.707%Sep 4, 2025Real yield1.677%Sep 9, 2025Real yield1.609%Sep 12, 2025Real yield1.597%Sep 17, 2025Real yield1.574%Sep 22, 2025Real yield1.680%Sep 25, 2025Real yield1.695%Sep 30, 2025Real yield1.694%Oct 3, 2025Real yield1.694%Oct 8, 2025Real yield1.679%Oct 14, 2025Real yield1.629%Oct 17, 2025Real yield1.647%Oct 22, 2025Real yield1.582%Oct 27, 2025Real yield1.624%Oct 30, 2025Real yield1.716%Nov 4, 2025Real yield1.704%Nov 7, 2025Real yield1.719%Nov 13, 2025Real yield1.723%Nov 18, 2025Real yield1.734%Nov 21, 2025Real yield1.703%Nov 26, 2025Real yield1.653%Dec 2, 2025Real yield1.738%Dec 5, 2025Real yield1.757%Dec 10, 2025Real yield1.769%Dec 15, 2025Real yield1.812%Dec 18, 2025Real yield1.768%Dec 23, 2025Real yield1.823%Dec 29, 2025Real yield1.788%Jan 2, 2026Real yield1.823%Jan 7, 2026Real yield1.764%Jan 12, 2026Real yield1.780%Jan 15, 2026Real yield1.756%Jan 21, 2026Real yield1.787%Jan 26, 2026Real yield1.736%Jan 29, 2026Real yield1.708%Feb 3, 2026Real yield1.731%Feb 6, 2026Real yield1.691%Feb 11, 2026Real yield1.667%Feb 17, 2026Real yield1.604%Feb 20, 2026Real yield1.611%Feb 25, 2026Real yield1.583%Mar 2, 2026Real yield1.567%Mar 5, 2026Real yield1.618%Mar 10, 2026Real yield1.602%Mar 13, 2026Real yield1.693%Mar 18, 2026Real yield1.641%Mar 23, 2026Real yield1.814%Mar 26, 2026Real yield1.895%Mar 31, 2026Real yield1.793%Apr 3, 2026Real yield1.789%Apr 8, 2026Real yield1.769%Apr 13, 2026Real yield1.716%Apr 16, 2026Real yield1.724%Apr 21, 2026Real yield1.720%Apr 24, 2026Real yield1.671%Apr 29, 2026Real yield1.735%May 4, 2026Real yield1.719%May 7, 2026Real yield1.743%May 12, 2026Real yield1.764%May 15, 2026Real yield1.883%May 20, 2026Real yield1.921%May 26, 2026Real yield1.900%May 29, 2026Real yield1.867%Jun 3, 2026Real yield1.925%Jun 8, 2026Real yield2.035%Jun 11, 2026Real yield1.984%Jun 16, 2026Real yield1.972%Jun 22, 2026Real yield2.129%Jun 25, 2026Real yield2.040%Jun 30, 2026Real yield2.049%Jul 6, 2026Real yield2.079%Jul 9, 2026Real yield2.139%Jul 14, 2026Real yield2.161%Jul 17, 2026Real yield2.140%Jul 22, 2026Real yield2.227%Jul 27, 2026Real yield2.302%Jul 30, 2026Real yield2.254%Aug 4, 2026Real yield2.251%Aug 7, 2026Real yield2.238%Aug 12, 2026Real yield2.252%Aug 17, 2026Real yield2.257%Aug 20, 2026Real yield2.173%Aug 25, 2026Real yield2.148%Aug 28, 2026Real yield2.263%Sep 2, 2026Real yield2.290%Sep 8, 2026Real yield2.273%Sep 11, 2026Real yield2.457%Sep 16, 2026Real yield2.557%Sep 21, 2026Real yield2.508%Sep 24, 2026Real yield2.729%Sep 29, 2026Real yield2.777%Oct 2, 2026Real yield2.783%Oct 7, 2026Real yield2.770%Oct 13, 2026Real yield2.744%Oct 16, 2026Real yield2.601%Oct 21, 2026Real yield2.630%Oct 26, 2026Real yield2.529%Oct 29, 2026Real yield2.484%Nov 3, 2026Real yield2.508%Nov 6, 2026Real yield2.491%Nov 9, 2026Real yield2.542%

Price history

569 trading days to Nov 9, 2026

92949698100102104Jul 31, 2024Nov 9, 2026Jul 31, 2024Close100.219Aug 5, 2024Close101.500Aug 8, 2024Close100.031Aug 13, 2024Close101.094Aug 16, 2024Close100.594Aug 21, 2024Close101.438Aug 26, 2024Close101.844Aug 29, 2024Close101.531Sep 4, 2024Close101.563Sep 9, 2024Close101.969Sep 12, 2024Close102.281Sep 17, 2024Close103.125Sep 20, 2024Close102.688Sep 25, 2024Close102.406Sep 30, 2024Close102.281Oct 3, 2024Close102.156Oct 8, 2024Close101.000Oct 11, 2024Close101.125Oct 17, 2024Close100.781Oct 22, 2024Close100.063Oct 25, 2024Close99.344Oct 30, 2024Close99.375Nov 4, 2024Close98.719Nov 7, 2024Close99.156Nov 13, 2024Close98.156Nov 18, 2024Close98.281Nov 21, 2024Close98.219Nov 26, 2024Close98.750Dec 2, 2024Close99.563Dec 5, 2024Close99.719Dec 10, 2024Close99.563Dec 13, 2024Close98.438Dec 18, 2024Close97.406Dec 23, 2024Close96.719Dec 27, 2024Close96.625Jan 2, 2025Close97.063Jan 7, 2025Close96.531Jan 10, 2025Close96.125Jan 15, 2025Close97.031Jan 21, 2025Close97.469Jan 24, 2025Close97.563Jan 29, 2025Close98.125Feb 3, 2025Close98.656Feb 6, 2025Close99.219Feb 11, 2025Close98.781Feb 14, 2025Close99.094Feb 20, 2025Close99.094Feb 25, 2025Close100.219Feb 28, 2025Close100.625Mar 5, 2025Close100.000Mar 10, 2025Close100.219Mar 13, 2025Close99.719Mar 18, 2025Close99.594Mar 21, 2025Close100.156Mar 26, 2025Close99.656Mar 31, 2025Close100.875Apr 3, 2025Close101.500Apr 8, 2025Close99.188Apr 11, 2025Close97.156Apr 16, 2025Close98.563Apr 22, 2025Close98.438Apr 25, 2025Close99.438Apr 30, 2025Close100.156May 5, 2025Close98.969May 8, 2025Close98.969May 13, 2025Close98.250May 16, 2025Close98.969May 21, 2025Close97.844May 27, 2025Close98.781May 30, 2025Close99.188Jun 4, 2025Close99.219Jun 9, 2025Close98.219Jun 12, 2025Close98.875Jun 17, 2025Close99.125Jun 23, 2025Close99.438Jun 26, 2025Close99.969Jul 1, 2025Close100.063Jul 7, 2025Close99.469Jul 10, 2025Close99.750Jul 15, 2025Close99.156Jul 18, 2025Close99.719Jul 23, 2025Close99.719Jul 28, 2025Close99.813Jul 31, 2025Close99.844Aug 5, 2025Close100.844Aug 8, 2025Close100.688Aug 13, 2025Close100.844Aug 18, 2025Close100.063Aug 21, 2025Close100.250Aug 26, 2025Close101.188Aug 29, 2025Close101.375Sep 4, 2025Close101.625Sep 9, 2025Close102.188Sep 12, 2025Close102.281Sep 17, 2025Close102.469Sep 22, 2025Close101.594Sep 25, 2025Close101.469Sep 30, 2025Close101.469Oct 3, 2025Close101.469Oct 8, 2025Close101.594Oct 14, 2025Close102.000Oct 17, 2025Close101.844Oct 22, 2025Close102.375Oct 27, 2025Close102.031Oct 30, 2025Close101.281Nov 4, 2025Close101.375Nov 7, 2025Close101.250Nov 13, 2025Close101.219Nov 18, 2025Close101.125Nov 21, 2025Close101.375Nov 26, 2025Close101.781Dec 2, 2025Close101.094Dec 5, 2025Close100.938Dec 10, 2025Close100.844Dec 15, 2025Close100.500Dec 18, 2025Close100.844Dec 23, 2025Close100.406Dec 29, 2025Close100.688Jan 2, 2026Close100.406Jan 7, 2026Close100.875Jan 12, 2026Close100.750Jan 15, 2026Close100.938Jan 21, 2026Close100.688Jan 26, 2026Close101.094Jan 29, 2026Close101.313Feb 3, 2026Close101.125Feb 6, 2026Close101.438Feb 11, 2026Close101.625Feb 17, 2026Close102.125Feb 20, 2026Close102.063Feb 25, 2026Close102.281Mar 2, 2026Close102.406Mar 5, 2026Close102.000Mar 10, 2026Close102.125Mar 13, 2026Close101.406Mar 18, 2026Close101.813Mar 23, 2026Close100.469Mar 26, 2026Close99.844Mar 31, 2026Close100.625Apr 3, 2026Close100.656Apr 8, 2026Close100.813Apr 13, 2026Close101.219Apr 16, 2026Close101.156Apr 21, 2026Close101.188Apr 24, 2026Close101.563Apr 29, 2026Close101.063May 4, 2026Close101.188May 7, 2026Close101.000May 12, 2026Close100.844May 15, 2026Close99.938May 20, 2026Close99.656May 26, 2026Close99.813May 29, 2026Close100.063Jun 3, 2026Close99.625Jun 8, 2026Close98.813Jun 11, 2026Close99.188Jun 16, 2026Close99.281Jun 22, 2026Close98.125Jun 25, 2026Close98.781Jun 30, 2026Close98.719Jul 6, 2026Close98.500Jul 9, 2026Close98.063Jul 14, 2026Close97.906Jul 17, 2026Close98.063Jul 22, 2026Close97.438Jul 27, 2026Close96.906Jul 30, 2026Close97.250Aug 4, 2026Close97.281Aug 7, 2026Close97.375Aug 12, 2026Close97.281Aug 17, 2026Close97.250Aug 20, 2026Close97.844Aug 25, 2026Close98.031Aug 28, 2026Close97.219Sep 2, 2026Close97.031Sep 8, 2026Close97.156Sep 11, 2026Close95.875Sep 16, 2026Close95.188Sep 21, 2026Close95.531Sep 24, 2026Close94.031Sep 29, 2026Close93.719Oct 2, 2026Close93.688Oct 7, 2026Close93.781Oct 13, 2026Close93.969Oct 16, 2026Close94.938Oct 21, 2026Close94.750Oct 26, 2026Close95.438Oct 29, 2026Close95.750Nov 3, 2026Close95.594Nov 6, 2026Close95.719Nov 9, 2026Close95.375
The most recent 20 trading days of prices for 91282CLE9.
DateBidOfferClose
Nov 9, 202695.43895.46995.375
Nov 6, 202695.75095.78195.719
Nov 5, 202695.68895.73495.875
Nov 4, 202695.46995.50095.563
Nov 3, 202695.68895.71995.594
Nov 2, 202696.09496.12595.875
Oct 30, 202696.00096.01696.031
Oct 29, 202695.75095.78195.750
Oct 28, 202695.34495.37595.406
Oct 27, 202695.53195.56395.563
Oct 26, 202695.50095.51695.438
Oct 23, 202695.53195.56395.531
Oct 22, 202695.28195.31395.656
Oct 21, 202694.87594.89194.750
Oct 20, 202694.75094.78194.750
Oct 19, 202694.68894.71994.563
Oct 16, 202694.87594.92294.938
Oct 15, 202694.59494.62594.625
Oct 14, 202693.84493.87594.188
Oct 13, 202693.96994.00093.969

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.

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 91282CLE9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 18, 2024Jul 31, 2024New issue$19.0bn$20.0bn2.38x1.883%
Sep 19, 2024Sep 30, 2024Reopening$17.0bn$17.4bn2.44x1.592%
Nov 21, 2024Nov 29, 2024Reopening$17.0bn$17.0bn2.35x2.071%

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.