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TIPS Public

U.S. Treasury 2.38% TIPS due Feb 15, 2056

CUSIP 912810US5 · 30-Year · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.71%
real yield — off the Treasury real-yield curve
Current yield i
2.55%
Coupon i
2.38%
Modified duration i
20.7 yr
Convexity i
541.82
Indicative REAL price i
93.293
real model per 100 real par — not a tradable quote
real auctioned at 97.925 · 2.47% high yield (Feb 19, 2026) — 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
94.100
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Aug 15, 2026
1.188 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Feb 2026par 100 · Feb 205660 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i30-Year
Coupon i2.38% (semiannual)
Maturity iFeb 15, 2056
Issue dateFeb 27, 2026
Par value i100.00
CallableNo
Amount outstanding i—
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
93.293
Dirty price (real) i
94.100
Accrued interest i
0.807
per 100 par
Yield to maturity (real) i
2.71%
Yield to worst (real) i
2.71%
Current yield i
2.55%
Modified duration i
20.7 yr
Macaulay duration i
20.9 yr
Convexity i
541.82
DV01 i
0.1944
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

60 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Aug 15, 20261.188 0.994141.181
Feb 15, 20271.188 0.974421.157
Aug 15, 20271.188 0.954801.134
Feb 15, 20281.188 0.934291.109
Aug 15, 20281.188 0.914171.086
Feb 15, 20291.188 0.895261.063
Aug 15, 20291.188 0.876951.041
Feb 15, 20301.188 0.858461.019
Aug 15, 20301.188 0.840570.998
Feb 15, 20311.188 0.822670.977
Aug 15, 20311.188 0.805090.956
Feb 15, 20321.188 0.786890.934
Aug 15, 20321.188 0.769050.913
Feb 15, 20331.188 0.751190.892
Aug 15, 20331.188 0.733950.872
Feb 15, 20341.188 0.716930.851
Aug 15, 20341.188 0.700410.832
Feb 15, 20351.188 0.683840.812
Aug 15, 20351.188 0.667760.793
Feb 15, 20361.188 0.651640.774
Aug 15, 20361.188 0.635850.755
Feb 15, 20371.188 0.619960.736
Aug 15, 20371.188 0.604550.718
Feb 15, 20381.188 0.589090.700
Aug 15, 20381.188 0.574090.682
Feb 15, 20391.188 0.559060.664
Aug 15, 20391.188 0.544490.647
Feb 15, 20401.188 0.529890.629
Aug 15, 20401.188 0.515660.612
Feb 15, 20411.188 0.501480.596
Aug 15, 20411.188 0.487750.579
Feb 15, 20421.188 0.474010.563
Aug 15, 20421.188 0.460700.547
Feb 15, 20431.188 0.447380.531
Aug 15, 20431.188 0.434480.516
Feb 15, 20441.188 0.421590.501
Aug 15, 20441.188 0.409040.486
Feb 15, 20451.188 0.396560.471
Aug 15, 20451.188 0.384500.457
Feb 15, 20461.188 0.372440.442
Aug 15, 20461.188 0.361800.430
Feb 15, 20471.188 0.353130.419
Aug 15, 20471.188 0.344800.409
Feb 15, 20481.188 0.336540.400
Aug 15, 20481.188 0.328570.390
Feb 15, 20491.188 0.320700.381
Aug 15, 20491.188 0.313150.372
Feb 15, 20501.188 0.305660.363
Aug 15, 20501.188 0.298470.354
Feb 15, 20511.188 0.291340.346
Aug 15, 20511.188 0.284490.338
Feb 15, 20521.188 0.277700.330
Aug 15, 20521.188 0.271140.322
Feb 15, 20531.188 0.264670.314
Aug 15, 20531.188 0.258460.307
Feb 15, 20541.188 0.252300.300
Aug 15, 20541.188 0.246390.293
Feb 15, 20551.188 0.240530.286
Aug 15, 20551.188 0.234890.279
Feb 15, 2056101.188 0.2293123.203
Sum of present values 94.100

Present values sum to the dirty price; subtract 0.807 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +52.15% 141.944
-100 bp (-1.0%) +23.37% 115.091
+100 bp (+1.0%) -17.95% 76.549
+200 bp (+2.0%) -30.48% 64.860

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (20.7 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 →
4.534.915.29Jan 2026Jun 2026

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