Bond Field Guide Anleihen. Klare Perspektive.
Methodik
Bond Public

U.S. Treasury 3.62% Bond due May 15, 2053

CUSIP 912810TR9 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.47%
annualized · YTW equals YTM (non-callable)
Current yield i
4.88%
Coupon i
3.62%
Modified duration i
14.9 yr
Convexity i
320.42
Indicative price i
74.298
indicative model price, not a tradable quote
real auctioned at 94.999 · 3.91% high yield (Jul 13, 2023) · reopening · at issuance, not a current price
Settles i
Oct 15, 2026
priced to this date (T+1 basis)
Total to settle i
75.805
per 100 par (clean 74.298 + accrued 1.507) · ≈ $7,580.53 per $10,000 face
Next coupon i
Nov 15, 2026
1.812 per 100 · $181.25 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jul 2023par 100 · May 205354 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i3.62% (semiannual)
Maturity iMay 15, 2053
Issue dateJul 17, 2023
Par value i100.00
CallableNo
Amount outstanding i$44.7B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
74.298
Dirty price i
75.805
Accrued interest i
1.507
per 100 par
Yield to maturity i
5.47%
Yield to worst i
5.47%
Current yield i
4.88%
Modified duration i
14.9 yr
Macaulay duration i
15.3 yr
Convexity i
320.42
DV01 i
0.1131
per 100 par

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

Remaining cash flows

54 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20261.812 0.996501.806
May 15, 20271.812 0.975191.768
Nov 15, 20271.812 0.952711.727
May 15, 20281.812 0.929671.685
Nov 15, 20281.812 0.905991.642
May 15, 20291.812 0.884091.602
Nov 15, 20291.812 0.862141.563
May 15, 20301.812 0.841411.525
Nov 15, 20301.812 0.820711.488
May 15, 20311.812 0.800721.451
Nov 15, 20311.812 0.780711.415
May 15, 20321.812 0.760981.379
Nov 15, 20321.812 0.741341.344
May 15, 20331.812 0.722341.309
Nov 15, 20331.812 0.703391.275
May 15, 20341.812 0.685351.242
Nov 15, 20341.812 0.667361.210
May 15, 20351.812 0.649981.178
Nov 15, 20351.812 0.632641.147
May 15, 20361.812 0.615821.116
Nov 15, 20361.812 0.599101.086
May 15, 20371.812 0.582821.056
Nov 15, 20371.812 0.566571.027
May 15, 20381.812 0.550890.998
Nov 15, 20381.812 0.535250.970
May 15, 20391.812 0.520150.943
Nov 15, 20391.812 0.505090.915
May 15, 20401.812 0.490490.889
Nov 15, 20401.812 0.476010.863
May 15, 20411.812 0.462050.837
Nov 15, 20411.812 0.448140.812
May 15, 20421.812 0.434720.788
Nov 15, 20421.812 0.421350.764
May 15, 20431.812 0.408470.740
Nov 15, 20431.812 0.395640.717
May 15, 20441.812 0.383220.695
Nov 15, 20441.812 0.370910.672
May 15, 20451.812 0.359060.651
Nov 15, 20451.812 0.347260.629
May 15, 20461.812 0.335900.609
Nov 15, 20461.812 0.325110.589
May 15, 20471.812 0.316810.574
Nov 15, 20471.812 0.308610.559
May 15, 20481.812 0.300720.545
Nov 15, 20481.812 0.292960.531
May 15, 20491.812 0.285540.518
Nov 15, 20491.812 0.278210.504
May 15, 20501.812 0.271190.492
Nov 15, 20501.812 0.264260.479
May 15, 20511.812 0.257620.467
Nov 15, 20511.812 0.251060.455
May 15, 20521.812 0.244750.444
Nov 15, 20521.812 0.238540.432
May 15, 2053101.812 0.2326123.682
Sum of present values 75.805

Present values sum to the dirty price; subtract 1.507 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +36.24% 101.226
-100 bp (-1.0%) +16.52% 86.572
+100 bp (+1.0%) -13.32% 64.405
+200 bp (+2.0%) -23.43% 56.892

Illustrative only: a parallel shift of the whole curve, estimated from modified duration (14.9 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 →
4.435.155.88Jan 2026Oct 2026

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