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TIPS Public

U.S. Treasury 1.00% TIPS due Feb 15, 2048

CUSIP 912810SB5 · 29-Year 4-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.85%
real yield — off the Treasury real-yield curve
Current yield i
1.42%
Coupon i
1.00%
Modified duration i
18.5 yr
Convexity i
385.59
Indicative REAL price i
70.422
real model per 100 real par — not a tradable quote
real auctioned at 96.358 · 1.24% high yield (Oct 18, 2018) · reopening — at issuance, not a current price
These are real (inflation-adjusted) figures off the Treasury real-yield curve. The actual dollar invoice = the real price × this TIPS's CPI index ratio, which is not applied here.
Settles i
Jul 29, 2026
priced to this date (T+1 basis)
Real price i
70.875
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
0.500 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2018par 100 · Feb 204844 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i29-Year 4-Month
Coupon i1.00% (semiannual)
Maturity iFeb 15, 2048
Issue dateOct 31, 2018
Par value i100.00
CallableNo
Amount outstanding i$13.7B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
70.422
Dirty price (real) i
70.875
Accrued interest i
0.453
per 100 par
Yield to maturity (real) i
2.85%
Yield to worst (real) i
2.85%
Current yield i
1.42%
Modified duration i
18.5 yr
Macaulay duration i
18.8 yr
Convexity i
385.59
DV01 i
0.1313
per 100 par

indicative REAL price/yield — discounted off the Treasury real-yield curve; CPI inflation accrual (index ratio) is not applied.

Remaining cash flows

44 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20260.500 0.998280.499
Feb 15, 20270.500 0.978550.489
Aug 15, 20270.500 0.958910.479
Feb 15, 20280.500 0.938410.469
Aug 15, 20280.500 0.917830.459
Feb 15, 20290.500 0.897860.449
Aug 15, 20290.500 0.878370.439
Feb 15, 20300.500 0.859120.430
Aug 15, 20300.500 0.840420.420
Feb 15, 20310.500 0.821650.411
Aug 15, 20310.500 0.803360.402
Feb 15, 20320.500 0.784340.392
Aug 15, 20320.500 0.765670.383
Feb 15, 20330.500 0.746940.373
Aug 15, 20330.500 0.728720.364
Feb 15, 20340.500 0.710830.355
Aug 15, 20340.500 0.693450.347
Feb 15, 20350.500 0.675990.338
Aug 15, 20350.500 0.659030.330
Feb 15, 20360.500 0.642010.321
Aug 15, 20360.500 0.625380.313
Feb 15, 20370.500 0.608780.304
Aug 15, 20370.500 0.592660.296
Feb 15, 20380.500 0.576490.288
Aug 15, 20380.500 0.560810.280
Feb 15, 20390.500 0.545100.273
Aug 15, 20390.500 0.529860.265
Feb 15, 20400.500 0.514600.257
Aug 15, 20400.500 0.499730.250
Feb 15, 20410.500 0.484920.242
Aug 15, 20410.500 0.470580.235
Feb 15, 20420.500 0.456240.228
Aug 15, 20420.500 0.442350.221
Feb 15, 20430.500 0.428450.214
Aug 15, 20430.500 0.415010.208
Feb 15, 20440.500 0.401580.201
Aug 15, 20440.500 0.388520.194
Feb 15, 20450.500 0.375540.188
Aug 15, 20450.500 0.362990.181
Feb 15, 20460.500 0.350470.175
Aug 15, 20460.500 0.338790.169
Feb 15, 20470.500 0.330180.165
Aug 15, 20470.500 0.321930.161
Feb 15, 2048100.500 0.3137531.532
Sum of present values 70.875

Present values sum to the dirty price; subtract 0.453 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +44.75% 101.938
-100 bp (-1.0%) +20.45% 84.822
+100 bp (+1.0%) -16.59% 58.737
+200 bp (+2.0%) -29.33% 49.767

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (18.5 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.