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
Nov 9, 2026
Analyzed through
not analyzed

Statement of October 31, 2026

Amount outstanding
$49.28bn
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
2.425%
Index ratio
1.0665
Real duration
2.834 yr
DV01
0.0277
Convexity
0.0953
Real clean price
97.750
Accrued (real)
0.116
Real dirty price
97.866
Indexed principal
106.646
Money clean price
104.247

The index ratio is a multiplier, not a percentage: 1.0665 means the principal is worth that many times its original face today. So the real clean price of 97.750 is not what a buyer pays , multiply by the ratio to get 104.247 per 100 of original face.

Against the fitted real curve

Priced 6.7 bp rich to the real curve on that day, 18.51 cents per 100 of face.

That is -1.00 standard deviations from its own typical residual.

Real yield, 505 observations

0.5%1.0%1.5%2.0%2.5%3.0%Oct 31, 2024Nov 9, 2026Oct 31, 2024Real yield1.771%Nov 5, 2024Real yield1.838%Nov 8, 2024Real yield1.765%Nov 14, 2024Real yield1.919%Nov 19, 2024Real yield1.832%Nov 22, 2024Real yield1.867%Nov 27, 2024Real yield1.786%Dec 3, 2024Real yield1.739%Dec 6, 2024Real yield1.713%Dec 11, 2024Real yield1.747%Dec 16, 2024Real yield1.863%Dec 19, 2024Real yield2.091%Dec 24, 2024Real yield2.044%Dec 30, 2024Real yield2.010%Jan 3, 2025Real yield1.997%Jan 8, 2025Real yield1.970%Jan 13, 2025Real yield2.048%Jan 16, 2025Real yield1.867%Jan 22, 2025Real yield1.931%Jan 27, 2025Real yield1.805%Jan 30, 2025Real yield1.792%Feb 4, 2025Real yield1.694%Feb 7, 2025Real yield1.730%Feb 12, 2025Real yield1.793%Feb 18, 2025Real yield1.723%Feb 21, 2025Real yield1.625%Feb 26, 2025Real yield1.492%Mar 3, 2025Real yield1.345%Mar 6, 2025Real yield1.491%Mar 11, 2025Real yield1.484%Mar 14, 2025Real yield1.568%Mar 19, 2025Real yield1.483%Mar 24, 2025Real yield1.504%Mar 27, 2025Real yield1.433%Apr 1, 2025Real yield1.319%Apr 4, 2025Real yield1.325%Apr 9, 2025Real yield1.553%Apr 14, 2025Real yield1.603%Apr 17, 2025Real yield1.524%Apr 23, 2025Real yield1.502%Apr 28, 2025Real yield1.321%May 1, 2025Real yield1.328%May 6, 2025Real yield1.385%May 9, 2025Real yield1.428%May 14, 2025Real yield1.566%May 19, 2025Real yield1.485%May 22, 2025Real yield1.514%May 28, 2025Real yield1.492%Jun 2, 2025Real yield1.462%Jun 5, 2025Real yield1.513%Jun 10, 2025Real yield1.595%Jun 13, 2025Real yield1.542%Jun 18, 2025Real yield1.475%Jun 24, 2025Real yield1.407%Jun 27, 2025Real yield1.362%Jul 2, 2025Real yield1.361%Jul 8, 2025Real yield1.413%Jul 11, 2025Real yield1.367%Jul 16, 2025Real yield1.306%Jul 21, 2025Real yield1.215%Jul 24, 2025Real yield1.297%Jul 29, 2025Real yield1.235%Aug 1, 2025Real yield1.204%Aug 6, 2025Real yield1.180%Aug 11, 2025Real yield1.179%Aug 14, 2025Real yield1.193%Aug 19, 2025Real yield1.230%Aug 22, 2025Real yield1.075%Aug 27, 2025Real yield0.975%Sep 2, 2025Real yield1.042%Sep 5, 2025Real yield0.963%Sep 10, 2025Real yield0.969%Sep 15, 2025Real yield0.998%Sep 18, 2025Real yield1.028%Sep 23, 2025Real yield1.057%Sep 26, 2025Real yield1.133%Oct 1, 2025Real yield1.085%Oct 6, 2025Real yield1.154%Oct 9, 2025Real yield1.130%Oct 15, 2025Real yield1.096%Oct 20, 2025Real yield1.086%Oct 23, 2025Real yield1.069%Oct 28, 2025Real yield1.124%Oct 31, 2025Real yield1.210%Nov 5, 2025Real yield1.258%Nov 10, 2025Real yield1.232%Nov 14, 2025Real yield1.255%Nov 19, 2025Real yield1.263%Nov 24, 2025Real yield1.220%Nov 28, 2025Real yield1.210%Dec 3, 2025Real yield1.234%Dec 8, 2025Real yield1.324%Dec 11, 2025Real yield1.299%Dec 16, 2025Real yield1.339%Dec 19, 2025Real yield1.330%Dec 24, 2025Real yield1.363%Dec 30, 2025Real yield1.319%Jan 5, 2026Real yield1.293%Jan 8, 2026Real yield1.292%Jan 13, 2026Real yield1.248%Jan 16, 2026Real yield1.289%Jan 22, 2026Real yield1.289%Jan 27, 2026Real yield1.176%Jan 30, 2026Real yield1.063%Feb 4, 2026Real yield1.131%Feb 9, 2026Real yield1.060%Feb 12, 2026Real yield1.050%Feb 18, 2026Real yield1.074%Feb 23, 2026Real yield1.028%Feb 26, 2026Real yield0.983%Mar 3, 2026Real yield0.999%Mar 6, 2026Real yield0.953%Mar 11, 2026Real yield1.004%Mar 16, 2026Real yield1.028%Mar 19, 2026Real yield1.071%Mar 24, 2026Real yield1.282%Mar 27, 2026Real yield1.272%Apr 1, 2026Real yield1.208%Apr 6, 2026Real yield1.162%Apr 9, 2026Real yield1.134%Apr 14, 2026Real yield1.060%Apr 17, 2026Real yield1.067%Apr 22, 2026Real yield1.083%Apr 27, 2026Real yield0.972%Apr 30, 2026Real yield1.007%May 5, 2026Real yield1.078%May 8, 2026Real yield1.113%May 13, 2026Real yield1.121%May 18, 2026Real yield1.277%May 21, 2026Real yield1.408%May 27, 2026Real yield1.397%Jun 1, 2026Real yield1.387%Jun 4, 2026Real yield1.453%Jun 9, 2026Real yield1.586%Jun 12, 2026Real yield1.615%Jun 17, 2026Real yield1.810%Jun 23, 2026Real yield1.899%Jun 26, 2026Real yield1.821%Jul 1, 2026Real yield1.871%Jul 7, 2026Real yield1.872%Jul 10, 2026Real yield1.903%Jul 15, 2026Real yield1.904%Jul 20, 2026Real yield1.945%Jul 23, 2026Real yield2.057%Jul 28, 2026Real yield2.120%Jul 31, 2026Real yield2.081%Aug 5, 2026Real yield2.052%Aug 10, 2026Real yield2.023%Aug 13, 2026Real yield1.982%Aug 18, 2026Real yield1.953%Aug 21, 2026Real yield1.913%Aug 26, 2026Real yield1.893%Aug 31, 2026Real yield2.009%Sep 3, 2026Real yield1.968%Sep 9, 2026Real yield2.001%Sep 14, 2026Real yield2.226%Sep 17, 2026Real yield2.313%Sep 22, 2026Real yield2.392%Sep 25, 2026Real yield2.493%Sep 30, 2026Real yield2.550%Oct 5, 2026Real yield2.488%Oct 8, 2026Real yield2.403%Oct 14, 2026Real yield2.429%Oct 19, 2026Real yield2.344%Oct 22, 2026Real yield2.203%Oct 27, 2026Real yield2.261%Oct 30, 2026Real yield2.141%Nov 4, 2026Real yield2.354%Nov 9, 2026Real yield2.425%

Price history

505 trading days to Nov 9, 2026

979899100101102103Oct 31, 2024Nov 9, 2026Oct 31, 2024Close99.313Nov 5, 2024Close99.000Nov 8, 2024Close99.344Nov 14, 2024Close98.625Nov 19, 2024Close99.031Nov 22, 2024Close98.875Nov 27, 2024Close99.250Dec 3, 2024Close99.469Dec 6, 2024Close99.594Dec 11, 2024Close99.438Dec 16, 2024Close98.906Dec 19, 2024Close97.875Dec 24, 2024Close98.094Dec 30, 2024Close98.250Jan 3, 2025Close98.313Jan 8, 2025Close98.438Jan 13, 2025Close98.094Jan 16, 2025Close98.906Jan 22, 2025Close98.625Jan 27, 2025Close99.188Jan 30, 2025Close99.250Feb 4, 2025Close99.688Feb 7, 2025Close99.531Feb 12, 2025Close99.250Feb 18, 2025Close99.563Feb 21, 2025Close100.000Feb 26, 2025Close100.594Mar 3, 2025Close101.250Mar 6, 2025Close100.594Mar 11, 2025Close100.625Mar 14, 2025Close100.250Mar 19, 2025Close100.625Mar 24, 2025Close100.531Mar 27, 2025Close100.844Apr 1, 2025Close101.344Apr 4, 2025Close101.313Apr 9, 2025Close100.313Apr 14, 2025Close100.094Apr 17, 2025Close100.438Apr 23, 2025Close100.531Apr 28, 2025Close101.313May 1, 2025Close101.281May 6, 2025Close101.031May 9, 2025Close100.844May 14, 2025Close100.250May 19, 2025Close100.594May 22, 2025Close100.469May 28, 2025Close100.563Jun 2, 2025Close100.688Jun 5, 2025Close100.469Jun 10, 2025Close100.125Jun 13, 2025Close100.344Jun 18, 2025Close100.625Jun 24, 2025Close100.906Jun 27, 2025Close101.094Jul 2, 2025Close101.094Jul 8, 2025Close100.875Jul 11, 2025Close101.063Jul 16, 2025Close101.313Jul 21, 2025Close101.688Jul 24, 2025Close101.344Jul 29, 2025Close101.594Aug 1, 2025Close101.719Aug 6, 2025Close101.813Aug 11, 2025Close101.813Aug 14, 2025Close101.750Aug 19, 2025Close101.594Aug 22, 2025Close102.219Aug 27, 2025Close102.625Sep 2, 2025Close102.344Sep 5, 2025Close102.656Sep 10, 2025Close102.625Sep 15, 2025Close102.500Sep 18, 2025Close102.375Sep 23, 2025Close102.250Sep 26, 2025Close101.938Oct 1, 2025Close102.125Oct 6, 2025Close101.844Oct 9, 2025Close101.938Oct 15, 2025Close102.063Oct 20, 2025Close102.094Oct 23, 2025Close102.156Oct 28, 2025Close101.938Oct 31, 2025Close101.594Nov 5, 2025Close101.406Nov 10, 2025Close101.500Nov 14, 2025Close101.406Nov 19, 2025Close101.375Nov 24, 2025Close101.531Nov 28, 2025Close101.563Dec 3, 2025Close101.469Dec 8, 2025Close101.125Dec 11, 2025Close101.219Dec 16, 2025Close101.063Dec 19, 2025Close101.094Dec 24, 2025Close100.969Dec 30, 2025Close101.125Jan 5, 2026Close101.219Jan 8, 2026Close101.219Jan 13, 2026Close101.375Jan 16, 2026Close101.219Jan 22, 2026Close101.219Jan 27, 2026Close101.625Jan 30, 2026Close102.031Feb 4, 2026Close101.781Feb 9, 2026Close102.031Feb 12, 2026Close102.063Feb 18, 2026Close101.969Feb 23, 2026Close102.125Feb 26, 2026Close102.281Mar 3, 2026Close102.219Mar 6, 2026Close102.375Mar 11, 2026Close102.188Mar 16, 2026Close102.094Mar 19, 2026Close101.938Mar 24, 2026Close101.188Mar 27, 2026Close101.219Apr 1, 2026Close101.438Apr 6, 2026Close101.594Apr 9, 2026Close101.688Apr 14, 2026Close101.938Apr 17, 2026Close101.906Apr 22, 2026Close101.844Apr 27, 2026Close102.219Apr 30, 2026Close102.094May 5, 2026Close101.844May 8, 2026Close101.719May 13, 2026Close101.688May 18, 2026Close101.156May 21, 2026Close100.719May 27, 2026Close100.750Jun 1, 2026Close100.781Jun 4, 2026Close100.563Jun 9, 2026Close100.125Jun 12, 2026Close100.031Jun 17, 2026Close99.406Jun 23, 2026Close99.125Jun 26, 2026Close99.375Jul 1, 2026Close99.219Jul 7, 2026Close99.219Jul 10, 2026Close99.125Jul 15, 2026Close99.125Jul 20, 2026Close99.000Jul 23, 2026Close98.656Jul 28, 2026Close98.469Jul 31, 2026Close98.594Aug 5, 2026Close98.688Aug 10, 2026Close98.781Aug 13, 2026Close98.906Aug 18, 2026Close99.000Aug 21, 2026Close99.125Aug 26, 2026Close99.188Aug 31, 2026Close98.844Sep 3, 2026Close98.969Sep 9, 2026Close98.875Sep 14, 2026Close98.219Sep 17, 2026Close97.969Sep 22, 2026Close97.750Sep 25, 2026Close97.469Sep 30, 2026Close97.313Oct 5, 2026Close97.500Oct 8, 2026Close97.750Oct 14, 2026Close97.688Oct 19, 2026Close97.938Oct 22, 2026Close98.344Oct 27, 2026Close98.188Oct 30, 2026Close98.531Nov 4, 2026Close97.938Nov 9, 2026Close97.750
The most recent 20 trading days of prices for 91282CLV1.
DateBidOfferClose
Nov 9, 202697.81397.82897.750
Nov 6, 202697.96998.00098.000
Nov 5, 202697.93897.98498.063
Nov 4, 202697.96998.00097.938
Nov 3, 202698.15698.18898.125
Nov 2, 202698.34498.37598.281
Oct 30, 202698.50098.53198.531
Oct 29, 202698.34498.37598.375
Oct 28, 202698.09498.12598.281
Oct 27, 202698.25098.26698.188
Oct 26, 202698.21998.25098.219
Oct 23, 202698.31398.34498.313
Oct 22, 202698.15698.18898.344
Oct 21, 202698.00098.03197.969
Oct 20, 202697.96998.00097.969
Oct 19, 202697.96997.98497.938
Oct 16, 202697.96998.00098.031
Oct 15, 202697.81397.84497.844
Oct 14, 202697.53197.56397.688
Oct 13, 202697.59497.60997.563

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 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.

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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.