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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
2.59%
real yield — off the Treasury real-yield curve
Current yield i
1.36%
Coupon i
1.00%
Modified duration i
18.7 yr
Convexity i
393.02
Indicative REAL price i
73.783
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
Jun 18, 2026
priced to this date (T+1 basis)
Real price i
74.122
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
73.783
Dirty price (real) i
74.122
Accrued interest i
0.340
per 100 par
Yield to maturity (real) i
2.59%
Yield to worst (real) i
2.59%
Current yield i
1.36%
Modified duration i
18.7 yr
Macaulay duration i
19.0 yr
Convexity i
393.02
DV01 i
0.1389
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 0.994140.497
Feb 15, 20270.500 0.974420.487
Aug 15, 20270.500 0.954800.477
Feb 15, 20280.500 0.934290.467
Aug 15, 20280.500 0.914170.457
Feb 15, 20290.500 0.895260.448
Aug 15, 20290.500 0.876950.438
Feb 15, 20300.500 0.858460.429
Aug 15, 20300.500 0.840570.420
Feb 15, 20310.500 0.822670.411
Aug 15, 20310.500 0.805090.403
Feb 15, 20320.500 0.786890.393
Aug 15, 20320.500 0.769050.385
Feb 15, 20330.500 0.751190.376
Aug 15, 20330.500 0.733950.367
Feb 15, 20340.500 0.716930.358
Aug 15, 20340.500 0.700410.350
Feb 15, 20350.500 0.683840.342
Aug 15, 20350.500 0.667760.334
Feb 15, 20360.500 0.651640.326
Aug 15, 20360.500 0.635850.318
Feb 15, 20370.500 0.619960.310
Aug 15, 20370.500 0.604550.302
Feb 15, 20380.500 0.589090.295
Aug 15, 20380.500 0.574090.287
Feb 15, 20390.500 0.559060.280
Aug 15, 20390.500 0.544490.272
Feb 15, 20400.500 0.529890.265
Aug 15, 20400.500 0.515660.258
Feb 15, 20410.500 0.501480.251
Aug 15, 20410.500 0.487750.244
Feb 15, 20420.500 0.474010.237
Aug 15, 20420.500 0.460700.230
Feb 15, 20430.500 0.447380.224
Aug 15, 20430.500 0.434480.217
Feb 15, 20440.500 0.421590.211
Aug 15, 20440.500 0.409040.205
Feb 15, 20450.500 0.396560.198
Aug 15, 20450.500 0.384500.192
Feb 15, 20460.500 0.372440.186
Aug 15, 20460.500 0.361800.181
Feb 15, 20470.500 0.353130.177
Aug 15, 20470.500 0.344800.172
Feb 15, 2048100.500 0.3365433.822
Sum of present values 74.122

Present values sum to the dirty price; subtract 0.340 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +45.34% 107.238
-100 bp (-1.0%) +20.71% 89.060
+100 bp (+1.0%) -16.78% 61.405
+200 bp (+2.0%) -29.62% 51.927

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (18.7 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.