Inflation-linked (TIPS)

91282CLV1 · 1.625% due October 15, 2029

Original term
5-Year
Maturity
Oct 15, 2029
Coupon
1.625%
Pays
Semi-Annual
Dated
Oct 15, 2024
First coupon
Apr 15, 2025
Priced through
Sep 10, 2026
Analyzed through
not analyzed

Statement of August 31, 2026

Amount outstanding
$49.20bn
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, September 10, 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
2.086%
Index ratio
1.0613
Real duration
2.978 yr
DV01
0.0296
Convexity
10.512
Real clean price
98.625
Accrued (real)
0.662
Real dirty price
99.287
Indexed principal
106.129
Money clean price
104.670

The index ratio is a multiplier, not a percentage: 1.0613 means the principal is worth that many times its original face today. So the real clean price of 98.625 is not what a buyer pays , multiply by the ratio to get 104.670 per 100 of original face.

Against the fitted real curve

Priced 6.8 bp rich to the real curve on that day, 20.17 cents per 100 of face.

Not scored against its own history. A linker needs twenty observations before a score means anything.

Real yield, 465 observations

0.75%1.00%1.25%1.50%1.75%2.00%2.25%Oct 31, 2024Sep 10, 2026Oct 31, 2024Real yield1.771%Nov 18, 2024Real yield1.866%Dec 4, 2024Real yield1.692%Dec 19, 2024Real yield2.091%Jan 7, 2025Real yield2.005%Jan 23, 2025Real yield1.910%Feb 7, 2025Real yield1.730%Feb 25, 2025Real yield1.513%Mar 12, 2025Real yield1.512%Mar 27, 2025Real yield1.433%Apr 11, 2025Real yield1.763%Apr 28, 2025Real yield1.321%May 13, 2025Real yield1.581%May 29, 2025Real yield1.447%Jun 13, 2025Real yield1.542%Jul 1, 2025Real yield1.361%Jul 17, 2025Real yield1.283%Aug 1, 2025Real yield1.204%Aug 18, 2025Real yield1.246%Sep 3, 2025Real yield1.010%Sep 18, 2025Real yield1.028%Oct 3, 2025Real yield1.139%Oct 21, 2025Real yield1.046%Nov 5, 2025Real yield1.258%Nov 21, 2025Real yield1.212%Dec 9, 2025Real yield1.365%Dec 24, 2025Real yield1.363%Jan 12, 2026Real yield1.274%Jan 28, 2026Real yield1.159%Feb 12, 2026Real yield1.050%Mar 2, 2026Real yield0.982%Mar 17, 2026Real yield0.957%Apr 1, 2026Real yield1.208%Apr 16, 2026Real yield1.086%May 1, 2026Real yield0.996%May 18, 2026Real yield1.277%Jun 3, 2026Real yield1.424%Jun 18, 2026Real yield1.800%Jul 7, 2026Real yield1.872%Jul 22, 2026Real yield2.006%Aug 6, 2026Real yield2.073%Aug 21, 2026Real yield1.913%Sep 8, 2026Real yield1.980%Sep 10, 2026Real yield2.086%

Price history

465 trading days to Sep 10, 2026

979899100101102103Oct 31, 2024Sep 10, 2026Oct 31, 2024Close99.313Nov 18, 2024Close98.875Dec 4, 2024Close99.688Dec 19, 2024Close97.875Jan 7, 2025Close98.281Jan 23, 2025Close98.719Feb 7, 2025Close99.531Feb 25, 2025Close100.500Mar 12, 2025Close100.500Mar 27, 2025Close100.844Apr 11, 2025Close99.406Apr 28, 2025Close101.313May 13, 2025Close100.188May 29, 2025Close100.750Jun 13, 2025Close100.344Jul 1, 2025Close101.094Jul 17, 2025Close101.406Aug 1, 2025Close101.719Aug 18, 2025Close101.531Sep 3, 2025Close102.469Sep 18, 2025Close102.375Oct 3, 2025Close101.906Oct 21, 2025Close102.250Nov 5, 2025Close101.406Nov 21, 2025Close101.563Dec 9, 2025Close100.969Dec 24, 2025Close100.969Jan 12, 2026Close101.281Jan 28, 2026Close101.688Feb 12, 2026Close102.063Mar 2, 2026Close102.281Mar 17, 2026Close102.344Apr 1, 2026Close101.438Apr 16, 2026Close101.844May 1, 2026Close102.125May 18, 2026Close101.156Jun 3, 2026Close100.656Jun 18, 2026Close99.438Jul 7, 2026Close99.219Jul 22, 2026Close98.813Aug 6, 2026Close98.625Aug 21, 2026Close99.125Sep 8, 2026Close98.938Sep 10, 2026Close98.625
The most recent 20 trading days of prices for 91282CLV1.
DateBidOfferClose
Sep 10, 202698.73498.71998.625
Sep 9, 202698.89198.84498.875
Sep 8, 202698.96998.93898.938
Sep 4, 202698.90698.87598.906
Sep 3, 202699.06399.03198.969
Sep 2, 202698.87598.84498.844
Sep 1, 202698.84498.81398.844
Aug 31, 202698.85998.84498.844
Aug 28, 202698.93898.90698.813
Aug 27, 202699.21999.18899.156
Aug 26, 202699.18899.15699.188
Aug 25, 202699.28199.25099.250
Aug 24, 202699.18899.15699.125
Aug 21, 202699.14199.12599.125
Aug 20, 202699.15699.12599.219
Aug 19, 202699.10999.09499.094
Aug 18, 202699.03199.00099.000
Aug 17, 202698.96998.93898.938
Aug 14, 202698.95398.93898.938
Aug 13, 202698.96998.93898.906

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.

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 91282CLV1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 24, 2024Oct 31, 2024New issue$24.0bn$24.4bn2.40x1.670%
Dec 19, 2024Dec 31, 2024Reopening$22.0bn$22.2bn2.10x2.121%

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.