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TIPS Public

U.S. Treasury 1.25% TIPS due Apr 15, 2031

CUSIP 91282CQP9 · 4-Year 10-Month · coupon paid semiannually

AAA·Govt
Real yield to maturity i
2.13%
real yield — off the Treasury real-yield curve
Current yield i
1.30%
Coupon i
1.25%
Modified duration i
4.5 yr
Convexity i
23.12
Indicative REAL price i
96.069
real model per 100 real par — not a tradable quote
real auctioned at 98.854 · 1.96% high yield (Jun 18, 2026) · 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
96.428
real dirty price per 100 real par. The $ invoice = real price × CPI index ratio (not applied)
Next coupon i
Oct 15, 2026
0.625 per 100 (real coupon; actual $ scales with the CPI index ratio)

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jun 2026par 100 · Apr 203110 coupons remaining + principal

Terms fetched

Type TIPS Treasury Inflation-Protected Securities — principal tracks the CPI.
Term i4-Year 10-Month
Coupon i1.25% (semiannual)
Maturity iApr 15, 2031
Issue dateJun 30, 2026
Par value i100.00
CallableNo
Amount outstanding i$29.3B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price (real) i
96.069
Dirty price (real) i
96.428
Accrued interest i
0.359
per 100 par
Yield to maturity (real) i
2.13%
Yield to worst (real) i
2.13%
Current yield i
1.30%
Modified duration i
4.5 yr
Macaulay duration i
4.6 yr
Convexity i
23.12
DV01 i
0.0436
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

10 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Oct 15, 20260.625 0.991930.620
Apr 15, 20270.625 0.972180.608
Oct 15, 20270.625 0.952160.595
Apr 15, 20280.625 0.931630.582
Oct 15, 20280.625 0.911200.569
Apr 15, 20290.625 0.891480.557
Oct 15, 20290.625 0.871960.545
Apr 15, 20300.625 0.853000.533
Oct 15, 20300.625 0.834170.521
Apr 15, 2031100.625 0.8156882.078
Sum of present values 96.428

Present values sum to the dirty price; subtract 0.359 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +9.51% 105.205
-100 bp (-1.0%) +4.64% 100.526
+100 bp (+1.0%) -4.41% 91.834
+200 bp (+2.0%) -8.59% 87.821

Illustrative only — a parallel shift of the whole curve, estimated from modified duration (4.5 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 →
3.323.994.65Jan 2026Jul 2026

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