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Bond Public

U.S. Treasury 2.88% Bond due Nov 15, 2046

CUSIP 912810RU4 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.29%
annualized · YTW equals YTM (non-callable)
Current yield i
4.10%
Coupon i
2.88%
Modified duration i
13.9 yr
Convexity i
249.28
Indicative price i
70.142
indicative model price — not a tradable quote
real auctioned at 99.222 · 2.91% high yield (Jan 12, 2017) · reopening — at issuance, not a current price
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Total to settle i
70.728
per 100 par (clean 70.142 + accrued 0.586) · ≈ $7,072.83 per $10,000 face
Next coupon i
Nov 15, 2026
1.438 per 100 · $143.75 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jan 2017par 100 · Nov 204641 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i2.88% (semiannual)
Maturity iNov 15, 2046
Issue dateJan 17, 2017
Par value i100.00
CallableNo
Amount outstanding i$30.3B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
70.142
Dirty price i
70.728
Accrued interest i
0.586
per 100 par
Yield to maturity i
5.29%
Yield to worst i
5.29%
Current yield i
4.10%
Modified duration i
13.9 yr
Macaulay duration i
14.3 yr
Convexity i
249.28
DV01 i
0.0984
per 100 par

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

Remaining cash flows

41 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20261.438 0.988601.421
May 15, 20271.438 0.968931.393
Nov 15, 20271.438 0.948711.364
May 15, 20281.438 0.928231.334
Nov 15, 20281.438 0.907831.305
May 15, 20291.438 0.888241.277
Nov 15, 20291.438 0.868721.249
May 15, 20301.438 0.849901.222
Nov 15, 20301.438 0.831011.195
May 15, 20311.438 0.812661.168
Nov 15, 20311.438 0.793831.141
May 15, 20321.438 0.775081.114
Nov 15, 20321.438 0.756281.087
May 15, 20331.438 0.737931.061
Nov 15, 20331.438 0.719751.035
May 15, 20341.438 0.702261.009
Nov 15, 20341.438 0.684690.984
May 15, 20351.438 0.667620.960
Nov 15, 20351.438 0.650490.935
May 15, 20361.438 0.633760.911
Nov 15, 20361.438 0.617050.887
May 15, 20371.438 0.600820.864
Nov 15, 20371.438 0.584540.840
May 15, 20381.438 0.568750.818
Nov 15, 20381.438 0.552920.795
May 15, 20391.438 0.537580.773
Nov 15, 20391.438 0.522200.751
May 15, 20401.438 0.507220.729
Nov 15, 20401.438 0.492300.708
May 15, 20411.438 0.477840.687
Nov 15, 20411.438 0.463380.666
May 15, 20421.438 0.449380.646
Nov 15, 20421.438 0.435370.626
May 15, 20431.438 0.421810.606
Nov 15, 20431.438 0.408270.587
May 15, 20441.438 0.395090.568
Nov 15, 20441.438 0.382000.549
May 15, 20451.438 0.369340.531
Nov 15, 20451.438 0.356700.513
May 15, 20461.438 0.344490.495
Nov 15, 2046101.438 0.3344533.926
Sum of present values 70.728

Present values sum to the dirty price; subtract 0.586 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +32.81% 93.153
-100 bp (-1.0%) +15.16% 80.774
+100 bp (+1.0%) -12.66% 61.260
+200 bp (+2.0%) -22.83% 54.125

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (13.9 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 →
4.444.895.34Jan 2026Jul 2026

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