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

U.S. Treasury 4.75% Bond due May 15, 2055

CUSIP 912810UK2 · 29-Year 10-Month · coupon paid semiannually

AAA·Govt
Yield to maturity i
5.44%
annualized · YTW equals YTM (non-callable)
Current yield i
5.28%
Coupon i
4.75%
Modified duration i
14.5 yr
Convexity i
316.87
Indicative price i
89.990
indicative model price, not a tradable quote
real auctioned at 97.817 · 4.89% high yield (Jul 10, 2025) · reopening · at issuance, not a current price
Settles i
Oct 16, 2026
priced to this date (T+1 basis)
Total to settle i
91.978
per 100 par (clean 89.990 + accrued 1.988) · ≈ $9,197.80 per $10,000 face
Next coupon i
Nov 15, 2026
2.375 per 100 · $237.50 per $10,000 face

Cash-flow timeline

issue → maturity · each tick is a coupon · ◆ today
todayissued Jul 2025par 100 · May 205558 coupons remaining + principal

Terms fetched

Type Bond Coupon-paying, 20 or 30 years. Interest every six months.
Term i29-Year 10-Month
Coupon i4.75% (semiannual)
Maturity iMay 15, 2055
Issue dateJul 15, 2025
Par value i100.00
CallableNo
Amount outstanding i$56.2B
Credit AAA·Govt
Look up on TreasuryDirect

Computed metrics computed

Clean price i
89.990
Dirty price i
91.978
Accrued interest i
1.988
per 100 par
Yield to maturity i
5.44%
Yield to worst i
5.44%
Current yield i
5.28%
Modified duration i
14.5 yr
Macaulay duration i
14.9 yr
Convexity i
316.87
DV01 i
0.1334
per 100 par

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

Remaining cash flows

58 payments, discounted off today's curve
DateCash flowDiscount factorPresent value
Nov 15, 20262.375 0.996652.367
May 15, 20272.375 0.975382.317
Nov 15, 20272.375 0.953142.264
May 15, 20282.375 0.930232.209
Nov 15, 20282.375 0.906672.153
May 15, 20292.375 0.884882.102
Nov 15, 20292.375 0.863022.050
May 15, 20302.375 0.842312.000
Nov 15, 20302.375 0.821621.951
May 15, 20312.375 0.801601.904
Nov 15, 20312.375 0.781571.856
May 15, 20322.375 0.761891.809
Nov 15, 20322.375 0.742301.763
May 15, 20332.375 0.723351.718
Nov 15, 20332.375 0.704421.673
May 15, 20342.375 0.686331.630
Nov 15, 20342.375 0.668251.587
May 15, 20352.375 0.650801.546
Nov 15, 20352.375 0.633371.504
May 15, 20362.375 0.616441.464
Nov 15, 20362.375 0.599641.424
May 15, 20372.375 0.583371.386
Nov 15, 20372.375 0.567141.347
May 15, 20382.375 0.551461.310
Nov 15, 20382.375 0.535831.273
May 15, 20392.375 0.520741.237
Nov 15, 20392.375 0.505701.201
May 15, 20402.375 0.491101.166
Nov 15, 20402.375 0.476631.132
May 15, 20412.375 0.462671.099
Nov 15, 20412.375 0.448761.066
May 15, 20422.375 0.435351.034
Nov 15, 20422.375 0.421991.002
May 15, 20432.375 0.409110.972
Nov 15, 20432.375 0.396280.941
May 15, 20442.375 0.383850.912
Nov 15, 20442.375 0.371550.882
May 15, 20452.375 0.359690.854
Nov 15, 20452.375 0.347890.826
May 15, 20462.375 0.336530.799
Nov 15, 20462.375 0.325720.774
May 15, 20472.375 0.317360.754
Nov 15, 20472.375 0.309090.734
May 15, 20482.375 0.301140.715
Nov 15, 20482.375 0.293320.697
May 15, 20492.375 0.285840.679
Nov 15, 20492.375 0.278440.661
May 15, 20502.375 0.271360.644
Nov 15, 20502.375 0.264360.628
May 15, 20512.375 0.257670.612
Nov 15, 20512.375 0.251040.596
May 15, 20522.375 0.244670.581
Nov 15, 20522.375 0.238410.566
May 15, 20532.375 0.232410.552
Nov 15, 20532.375 0.226480.538
May 15, 20542.375 0.220810.524
Nov 15, 20542.375 0.215200.511
May 15, 2055102.375 0.2098321.481
Sum of present values 91.978

Present values sum to the dirty price; subtract 1.988 accrued to get the clean price.

Rate sensitivity i

approximate, from duration & convexity
Parallel rate moveApprox. price changeApprox. indicative price
-200 bp (-2.0%) +35.34% 121.794
-100 bp (-1.0%) +16.09% 104.466
+100 bp (+1.0%) -12.92% 78.365
+200 bp (+2.0%) -22.67% 69.592

Illustrative only: a parallel shift of the whole curve, estimated from modified duration (14.5 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 →
4.435.155.88Jan 2026Oct 2026

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