Treasury Calculator

Model your return on US Treasury bills, notes, and bonds. State tax-exempt. Pre-filled with live FRED yields.

Investment Amount
$
Federal Tax Bracket
Inflation Assumption
% (10Y TIPS breakeven)
Return Comparison
Fetching live yields…
MaturityYieldAnnual IncomeTotal over TermAfter-Tax / yrReal Return / yrDuration RiskIf Rates +1%
3 Month Bill
BILL · Buy at discount · no coupon
%
FRED live
$400
per year
$100
this period
$304
after 24% federal
+1.50%
$150/yr after 2.5% inflation
None
mod dur 0.25y
—
2 Year Note
NOTE · Semi-annual coupons · 2y term
%
FRED live
$400
per year
$800
over 2y
$304
after 24% federal
+1.50%
$150/yr after 2.5% inflation
Low
mod dur 1.9y
-$186
mark-to-market loss if sold
10 Year Bond
BOND · Semi-annual coupons · 10y term
%
FRED live
$450
per year
$4,500
over 10y
$342
after 24% federal
+2.00%
$200/yr after 2.5% inflation
High
mod dur 8.1y
-$792
mark-to-market loss if sold
30 Year Bond
BOND · Semi-annual coupons · 30y term
%
FRED live
$500
per year
$15,000
over 30y
$380
after 24% federal
+2.50%
$250/yr after 2.5% inflation
Very High
mod dur 16.5y
-$1,610
mark-to-market loss if sold
T-Bills (≤ 1 year) — How it works
· No coupon. You buy below face value and get face back at maturity.· Zero duration risk — rates can move and you don't care. You're out in 90 days.· State and local tax exempt (federal still applies).· Buy at auction (every Monday for 3M) or secondary market via your broker.· Rolling every 90 days means your yield resets to whatever rate is current — no lock-in.
Bonds (2Y+) — Duration Risk
· You lock in the coupon yield for the full term.· If rates rise, bond price falls — "If rates +1%" column shows your mark-to-market loss if you sell early.· Hold to maturity and the loss disappears — you get face value + all coupons.· The 30Y locks in 5.12% for 30 years — great if rates fall, painful if inflation returns.· Coupons are reinvested at whatever rate is current — reinvestment risk.