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Bond Public

U.S. Treasury 2.50% Bond due May 15, 2046

CUSIP 912810RS9 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
4.98%
annualized · YTW equals YTM (non-callable)
Current yield i
3.63%
Coupon i
2.50%
Modified duration i
14.4 yr
Convexity i
257.55
Indicative price i
68.912
indicative model price — not a tradable quote
real auctioned at 107.171 · 2.17% high yield (Jul 13, 2016) · reopening — at issuance, not a current price
Settles i
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
69.143
per 100 par (clean 68.912 + accrued 0.231) · ≈ $6,914.31 per $10,000 face
Next coupon i
Nov 15, 2026
1.250 per 100 · $125.00 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jul 2016par 100 · May 204640 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i2.50% (semiannual)
Maturity iMay 15, 2046
Issue dateJul 15, 2016
Par value i100.00
CallableNo
Amount outstanding i$30.4B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
68.912
Dirty price i
69.143
Accrued interest i
0.231
per 100 par
Yield to maturity i
4.98%
Yield to worst i
4.98%
Current yield i
3.63%
Modified duration i
14.4 yr
Macaulay duration i
14.7 yr
Convexity i
257.55
DV01 i
0.0993
per 100 par

indicative — matrix-priced off today's par curve.

Remaining cash flows

40 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20261.250 0.984321.230
May 15, 20271.250 0.964841.206
Nov 15, 20271.250 0.944601.181
May 15, 20281.250 0.924091.155
Nov 15, 20281.250 0.904671.131
May 15, 20291.250 0.886261.108
Nov 15, 20291.250 0.867671.085
May 15, 20301.250 0.849621.062
Nov 15, 20301.250 0.831581.039
May 15, 20311.250 0.814121.018
Nov 15, 20311.250 0.795970.995
May 15, 20321.250 0.778050.973
Nov 15, 20321.250 0.760100.950
May 15, 20331.250 0.742620.928
Nov 15, 20331.250 0.725410.907
May 15, 20341.250 0.708780.886
Nov 15, 20341.250 0.692100.865
May 15, 20351.250 0.675910.845
Nov 15, 20351.250 0.659670.825
May 15, 20361.250 0.643830.805
Nov 15, 20361.250 0.627880.785
May 15, 20371.250 0.612360.765
Nov 15, 20371.250 0.596790.746
May 15, 20381.250 0.581690.727
Nov 15, 20381.250 0.566550.708
May 15, 20391.250 0.551870.690
Nov 15, 20391.250 0.537160.671
May 15, 20401.250 0.522820.654
Nov 15, 20401.250 0.508540.636
May 15, 20411.250 0.494710.618
Nov 15, 20411.250 0.480860.601
May 15, 20421.250 0.467440.584
Nov 15, 20421.250 0.454010.568
May 15, 20431.250 0.441010.551
Nov 15, 20431.250 0.428010.535
May 15, 20441.250 0.415360.519
Nov 15, 20441.250 0.402780.503
May 15, 20451.250 0.390610.488
Nov 15, 20451.250 0.378440.473
May 15, 2046101.250 0.3666837.127
Sum of present values 69.143

Present values sum to the dirty price; subtract 0.231 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +33.87% 92.255
-100 bp (-1.0%) +15.65% 79.696
+100 bp (+1.0%) -13.07% 59.903
+200 bp (+2.0%) -23.57% 52.669

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (14.4 yr) and convexity. Real moves are rarely parallel; this is not a forecast.

What to know

Key risks

  • Interest-rate risk. If market yields rise, the price falls — and more so the longer the maturity. See the rate-sensitivity table above.
  • Inflation risk. Fixed coupons lose purchasing power if inflation rises. TIPS are designed to offset this; nominal bills, notes and bonds are not.
  • Reinvestment risk. Coupons, and principal at maturity, may have to be reinvested later at lower rates than today's.
  • Liquidity / price risk. Selling before maturity means taking the market price at that time, which can be above or below the indicative value shown here.

Tax

Interest on U.S. Treasuries is subject to federal income tax but is generally exempt from state and local income tax.

How Treasuries are bought

New issues are sold at auction (including directly via TreasuryDirect.gov); outstanding securities trade on the secondary market through a broker. This site is for research only and does not sell or recommend securities.

General information only — not tax, legal or investment advice.

Benchmark yield, past year

All tenors →
4.454.885.31Jan 2026Jun 2026

Par yield of the nearest benchmark tenor — the main input to this bond's price.