Bond Field Guide Revenu fixe. Perspective claire.
Méthodologie
Bond Public

U.S. Treasury 2.75% Bond due Aug 15, 2047

CUSIP 912810RY6 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.53%
annualized · YTW equals YTM (non-callable)
Current yield i
4.18%
Coupon i
2.75%
Modified duration i
14.1 yr
Convexity i
258.86
Indicative price i
65.843
indicative model price, not a tradable quote
real auctioned at 97.601 · 2.87% high yield (Oct 12, 2017) · reopening · at issuance, not a current price
Settles i
Oct 16, 2026
priced to this date (T+1 basis)
Total to settle i
66.306
per 100 par (clean 65.843 + accrued 0.463) · ≈ $6,630.59 per $10,000 face
Next coupon i
Feb 15, 2027
1.375 per 100 · $137.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Oct 2017par 100 · Aug 204742 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i2.75% (semiannual)
Maturity iAug 15, 2047
Issue dateOct 16, 2017
Par value i100.00
CallableNo
Amount outstanding i$31.5B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
65.843
Dirty price i
66.306
Accrued interest i
0.463
per 100 par
Yield to maturity i
5.53%
Yield to worst i
5.53%
Current yield i
4.18%
Modified duration i
14.1 yr
Macaulay duration i
14.5 yr
Convexity i
258.86
DV01 i
0.0937
per 100 par

indicative, matrix-priced off today's par curve.

Remaining cash flows

42 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Feb 15, 20271.375 0.985821.355
Aug 15, 20271.375 0.964361.326
Feb 15, 20281.375 0.941651.295
Aug 15, 20281.375 0.918371.263
Feb 15, 20291.375 0.895571.231
Aug 15, 20291.375 0.873881.202
Feb 15, 20301.375 0.852451.172
Aug 15, 20301.375 0.831921.144
Feb 15, 20311.375 0.811401.116
Aug 15, 20311.375 0.791561.088
Feb 15, 20321.375 0.771581.061
Aug 15, 20321.375 0.752061.034
Feb 15, 20331.375 0.732631.007
Aug 15, 20331.375 0.713820.982
Feb 15, 20341.375 0.695180.956
Aug 15, 20341.375 0.677250.931
Feb 15, 20351.375 0.659340.907
Aug 15, 20351.375 0.642040.883
Feb 15, 20361.375 0.624770.859
Aug 15, 20361.375 0.608010.836
Feb 15, 20371.375 0.591330.813
Aug 15, 20371.375 0.575210.791
Feb 15, 20381.375 0.559130.769
Aug 15, 20381.375 0.543610.747
Feb 15, 20391.375 0.528120.726
Aug 15, 20391.375 0.513180.706
Feb 15, 20401.375 0.498280.685
Aug 15, 20401.375 0.483830.665
Feb 15, 20411.375 0.469500.646
Aug 15, 20411.375 0.455680.627
Feb 15, 20421.375 0.441910.608
Aug 15, 20421.375 0.428630.589
Feb 15, 20431.375 0.415410.571
Aug 15, 20431.375 0.402660.554
Feb 15, 20441.375 0.389970.536
Aug 15, 20441.375 0.377670.519
Feb 15, 20451.375 0.365490.503
Aug 15, 20451.375 0.353760.486
Feb 15, 20461.375 0.342090.470
Aug 15, 20461.375 0.330850.455
Feb 15, 20471.375 0.321440.442
Aug 15, 2047101.375 0.3132031.750
Sum of present values 66.306

Present values sum to the dirty price; subtract 0.463 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +33.45% 87.869
-100 bp (-1.0%) +15.43% 76.004
+100 bp (+1.0%) -12.84% 57.386
+200 bp (+2.0%) -23.1% 50.634

Illustrative only: a parallel shift of the whole curve, estimated from modified duration (14.1 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 →
4.345.145.94Jan 2026Oct 2026

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