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
Oct 20, 2026
Analyzed through
not analyzed

Statement of September 30, 2026

Amount outstanding
$49.14bn
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, October 20, 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
2.334%
Index ratio
1.0634
Real duration
2.889 yr
DV01
0.0283
Convexity
0.0988
Real clean price
97.969
Accrued (real)
0.027
Real dirty price
97.996
Indexed principal
106.339
Money clean price
104.179

The index ratio is a multiplier, not a percentage: 1.0634 means the principal is worth that many times its original face today. So the real clean price of 97.969 is not what a buyer pays , multiply by the ratio to get 104.179 per 100 of original face.

Against the fitted real curve

Priced 6.2 bp rich to the real curve on that day, 17.69 cents per 100 of face.

That is -0.48 standard deviations from its own typical residual.

Real yield, 492 observations

0.5%1.0%1.5%2.0%2.5%3.0%Oct 31, 2024Oct 20, 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 22, 2025Real yield1.516%Apr 25, 2025Real yield1.386%Apr 30, 2025Real yield1.249%May 5, 2025Real yield1.443%May 8, 2025Real yield1.435%May 13, 2025Real yield1.581%May 16, 2025Real yield1.478%May 21, 2025Real yield1.551%May 27, 2025Real yield1.455%May 30, 2025Real yield1.403%Jun 4, 2025Real yield1.439%Jun 9, 2025Real yield1.587%Jun 12, 2025Real yield1.535%Jun 17, 2025Real yield1.483%Jun 23, 2025Real yield1.415%Jun 26, 2025Real yield1.340%Jul 1, 2025Real yield1.361%Jul 7, 2025Real yield1.383%Jul 10, 2025Real yield1.360%Jul 15, 2025Real yield1.382%Jul 18, 2025Real yield1.260%Jul 23, 2025Real yield1.305%Jul 28, 2025Real yield1.304%Jul 31, 2025Real yield1.318%Aug 5, 2025Real yield1.180%Aug 8, 2025Real yield1.187%Aug 13, 2025Real yield1.155%Aug 18, 2025Real yield1.246%Aug 21, 2025Real yield1.222%Aug 26, 2025Real yield1.044%Aug 29, 2025Real yield0.988%Sep 4, 2025Real yield0.995%Sep 9, 2025Real yield0.970%Sep 12, 2025Real yield1.006%Sep 17, 2025Real yield0.997%Sep 22, 2025Real yield1.088%Sep 25, 2025Real yield1.127%Sep 30, 2025Real yield1.117%Oct 3, 2025Real yield1.139%Oct 8, 2025Real yield1.114%Oct 14, 2025Real yield1.057%Oct 17, 2025Real yield1.087%Oct 22, 2025Real yield1.030%Oct 27, 2025Real yield1.124%Oct 30, 2025Real yield1.235%Nov 4, 2025Real yield1.194%Nov 7, 2025Real yield1.216%Nov 13, 2025Real yield1.240%Nov 18, 2025Real yield1.246%Nov 21, 2025Real yield1.212%Nov 26, 2025Real yield1.187%Dec 2, 2025Real yield1.259%Dec 5, 2025Real yield1.275%Dec 10, 2025Real yield1.299%Dec 15, 2025Real yield1.331%Dec 18, 2025Real yield1.305%Dec 23, 2025Real yield1.371%Dec 29, 2025Real yield1.336%Jan 2, 2026Real yield1.344%Jan 7, 2026Real yield1.275%Jan 12, 2026Real yield1.274%Jan 15, 2026Real yield1.273%Jan 21, 2026Real yield1.263%Jan 26, 2026Real yield1.211%Jan 29, 2026Real yield1.099%Feb 3, 2026Real yield1.105%Feb 6, 2026Real yield1.086%Feb 11, 2026Real yield1.094%Feb 17, 2026Real yield1.083%Feb 20, 2026Real yield1.063%Feb 25, 2026Real yield1.036%Mar 2, 2026Real yield0.982%Mar 5, 2026Real yield1.024%Mar 10, 2026Real yield1.013%Mar 13, 2026Real yield1.072%Mar 18, 2026Real yield1.000%Mar 23, 2026Real yield1.220%Mar 26, 2026Real yield1.309%Mar 31, 2026Real yield1.155%Apr 3, 2026Real yield1.171%Apr 8, 2026Real yield1.152%Apr 13, 2026Real yield1.087%Apr 16, 2026Real yield1.086%Apr 21, 2026Real yield1.093%Apr 24, 2026Real yield0.991%Apr 29, 2026Real yield1.044%May 4, 2026Real yield1.023%May 7, 2026Real yield1.151%May 12, 2026Real yield1.121%May 15, 2026Real yield1.259%May 20, 2026Real yield1.351%May 26, 2026Real yield1.416%May 29, 2026Real yield1.377%Jun 3, 2026Real yield1.424%Jun 8, 2026Real yield1.586%Jun 11, 2026Real yield1.577%Jun 16, 2026Real yield1.615%Jun 22, 2026Real yield1.889%Jun 25, 2026Real yield1.811%Jun 30, 2026Real yield1.831%Jul 6, 2026Real yield1.832%Jul 9, 2026Real yield1.853%Jul 14, 2026Real yield1.934%Jul 17, 2026Real yield1.915%Jul 22, 2026Real yield2.006%Jul 27, 2026Real yield2.140%Jul 30, 2026Real yield2.039%Aug 4, 2026Real yield2.051%Aug 7, 2026Real yield2.012%Aug 12, 2026Real yield2.013%Aug 17, 2026Real yield1.973%Aug 20, 2026Real yield1.881%Aug 25, 2026Real yield1.872%Aug 28, 2026Real yield2.019%Sep 2, 2026Real yield2.010%Sep 8, 2026Real yield1.980%Sep 11, 2026Real yield2.215%Sep 16, 2026Real yield2.355%Sep 21, 2026Real yield2.391%Sep 24, 2026Real yield2.545%Sep 29, 2026Real yield2.549%Oct 2, 2026Real yield2.487%Oct 7, 2026Real yield2.435%Oct 13, 2026Real yield2.472%Oct 16, 2026Real yield2.310%Oct 20, 2026Real yield2.334%

Price history

492 trading days to Oct 20, 2026

979899100101102103Oct 31, 2024Oct 20, 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 22, 2025Close100.469Apr 25, 2025Close101.031Apr 30, 2025Close101.625May 5, 2025Close100.781May 8, 2025Close100.813May 13, 2025Close100.188May 16, 2025Close100.625May 21, 2025Close100.313May 27, 2025Close100.719May 30, 2025Close100.938Jun 4, 2025Close100.781Jun 9, 2025Close100.156Jun 12, 2025Close100.375Jun 17, 2025Close100.594Jun 23, 2025Close100.875Jun 26, 2025Close101.188Jul 1, 2025Close101.094Jul 7, 2025Close101.000Jul 10, 2025Close101.094Jul 15, 2025Close101.000Jul 18, 2025Close101.500Jul 23, 2025Close101.313Jul 28, 2025Close101.313Jul 31, 2025Close101.250Aug 5, 2025Close101.813Aug 8, 2025Close101.781Aug 13, 2025Close101.906Aug 18, 2025Close101.531Aug 21, 2025Close101.625Aug 26, 2025Close102.344Aug 29, 2025Close102.563Sep 4, 2025Close102.531Sep 9, 2025Close102.625Sep 12, 2025Close102.469Sep 17, 2025Close102.500Sep 22, 2025Close102.125Sep 25, 2025Close101.969Sep 30, 2025Close102.000Oct 3, 2025Close101.906Oct 8, 2025Close102.000Oct 14, 2025Close102.219Oct 17, 2025Close102.094Oct 22, 2025Close102.313Oct 27, 2025Close101.938Oct 30, 2025Close101.500Nov 4, 2025Close101.656Nov 7, 2025Close101.563Nov 13, 2025Close101.469Nov 18, 2025Close101.438Nov 21, 2025Close101.563Nov 26, 2025Close101.656Dec 2, 2025Close101.375Dec 5, 2025Close101.313Dec 10, 2025Close101.219Dec 15, 2025Close101.094Dec 18, 2025Close101.188Dec 23, 2025Close100.938Dec 29, 2025Close101.063Jan 2, 2026Close101.031Jan 7, 2026Close101.281Jan 12, 2026Close101.281Jan 15, 2026Close101.281Jan 21, 2026Close101.313Jan 26, 2026Close101.500Jan 29, 2026Close101.906Feb 3, 2026Close101.875Feb 6, 2026Close101.938Feb 11, 2026Close101.906Feb 17, 2026Close101.938Feb 20, 2026Close102.000Feb 25, 2026Close102.094Mar 2, 2026Close102.281Mar 5, 2026Close102.125Mar 10, 2026Close102.156Mar 13, 2026Close101.938Mar 18, 2026Close102.188Mar 23, 2026Close101.406Mar 26, 2026Close101.094Mar 31, 2026Close101.625Apr 3, 2026Close101.563Apr 8, 2026Close101.625Apr 13, 2026Close101.844Apr 16, 2026Close101.844Apr 21, 2026Close101.813Apr 24, 2026Close102.156Apr 29, 2026Close101.969May 4, 2026Close102.031May 7, 2026Close101.594May 12, 2026Close101.688May 15, 2026Close101.219May 20, 2026Close100.906May 26, 2026Close100.688May 29, 2026Close100.813Jun 3, 2026Close100.656Jun 8, 2026Close100.125Jun 11, 2026Close100.156Jun 16, 2026Close100.031Jun 22, 2026Close99.156Jun 25, 2026Close99.406Jun 30, 2026Close99.344Jul 6, 2026Close99.344Jul 9, 2026Close99.281Jul 14, 2026Close99.031Jul 17, 2026Close99.094Jul 22, 2026Close98.813Jul 27, 2026Close98.406Jul 30, 2026Close98.719Aug 4, 2026Close98.688Aug 7, 2026Close98.813Aug 12, 2026Close98.813Aug 17, 2026Close98.938Aug 20, 2026Close99.219Aug 25, 2026Close99.250Aug 28, 2026Close98.813Sep 2, 2026Close98.844Sep 8, 2026Close98.938Sep 11, 2026Close98.250Sep 16, 2026Close97.844Sep 21, 2026Close97.750Sep 24, 2026Close97.313Sep 29, 2026Close97.313Oct 2, 2026Close97.500Oct 7, 2026Close97.656Oct 13, 2026Close97.563Oct 16, 2026Close98.031Oct 20, 2026Close97.969
The most recent 20 trading days of prices for 91282CLV1.
DateBidOfferClose
Oct 20, 202698.00097.96997.969
Oct 19, 202697.98497.96997.938
Oct 16, 202698.00097.96998.031
Oct 15, 202697.84497.81397.844
Oct 14, 202697.56397.53197.688
Oct 13, 202697.60997.59497.563
Oct 9, 202697.62597.59497.563
Oct 8, 202697.62597.59497.750
Oct 7, 202697.62597.59497.656
Oct 6, 202697.59497.56397.594
Oct 5, 202697.51697.50097.500
Oct 2, 202697.54797.53197.500
Oct 1, 202697.59497.56397.656
Sep 30, 202697.42297.40697.313
Sep 29, 202697.20397.18897.313
Sep 28, 202697.31397.28197.250
Sep 25, 202697.43897.40697.469
Sep 24, 202697.39197.37597.313
Sep 23, 202697.48497.46997.375
Sep 22, 202697.75097.71997.750

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.

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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.