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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
4.97%
annualized · YTW equals YTM (non-callable)
Current yield i
3.92%
Coupon i
2.88%
Modified duration i
14.2 yr
Convexity i
256.94
Indicative price i
73.338
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
Jun 18, 2026
priced to this date (T+1 basis)
Total to settle i
73.603
per 100 par (clean 73.338 + accrued 0.266) · ≈ $7,360.34 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
73.338
Dirty price i
73.603
Accrued interest i
0.266
per 100 par
Yield to maturity i
4.97%
Yield to worst i
4.97%
Current yield i
3.92%
Modified duration i
14.2 yr
Macaulay duration i
14.6 yr
Convexity i
256.94
DV01 i
0.1045
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 0.984321.415
May 15, 20271.438 0.964841.387
Nov 15, 20271.438 0.944601.358
May 15, 20281.438 0.924091.328
Nov 15, 20281.438 0.904671.300
May 15, 20291.438 0.886261.274
Nov 15, 20291.438 0.867671.247
May 15, 20301.438 0.849621.221
Nov 15, 20301.438 0.831581.195
May 15, 20311.438 0.814121.170
Nov 15, 20311.438 0.795971.144
May 15, 20321.438 0.778051.118
Nov 15, 20321.438 0.760101.093
May 15, 20331.438 0.742621.068
Nov 15, 20331.438 0.725411.043
May 15, 20341.438 0.708781.019
Nov 15, 20341.438 0.692100.995
May 15, 20351.438 0.675910.972
Nov 15, 20351.438 0.659670.948
May 15, 20361.438 0.643830.926
Nov 15, 20361.438 0.627880.903
May 15, 20371.438 0.612360.880
Nov 15, 20371.438 0.596790.858
May 15, 20381.438 0.581690.836
Nov 15, 20381.438 0.566550.814
May 15, 20391.438 0.551870.793
Nov 15, 20391.438 0.537160.772
May 15, 20401.438 0.522820.752
Nov 15, 20401.438 0.508540.731
May 15, 20411.438 0.494710.711
Nov 15, 20411.438 0.480860.691
May 15, 20421.438 0.467440.672
Nov 15, 20421.438 0.454010.653
May 15, 20431.438 0.441010.634
Nov 15, 20431.438 0.428010.615
May 15, 20441.438 0.415360.597
Nov 15, 20441.438 0.402780.579
May 15, 20451.438 0.390610.561
Nov 15, 20451.438 0.378440.544
May 15, 20461.438 0.366680.527
Nov 15, 2046101.438 0.3574436.258
Sum of present values 73.603

Present values sum to the dirty price; subtract 0.266 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +33.54% 97.933
-100 bp (-1.0%) +15.48% 84.693
+100 bp (+1.0%) -12.91% 63.867
+200 bp (+2.0%) -23.26% 56.280

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (14.2 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.