Free Laboratory · illustrative worked example
Treasury clean and dirty settlement price
How much does accrued coupon interest add to a quoted clean price at Treasury settlement?
This experiment changes declared financial assumptions and calculates their consequences. The starting figures are illustrative; the model does not inspect your accounts or require a live market feed. Run the question free, compare an alternative and inspect the calculation receipt.
Run this experimentWhat the published starting values calculate.
Total settlement consideration: 100,500.00 USD.
The settlement consideration includes accrued interest as well as the clean price. The full coupon belongs to the holder at the coupon date, but the accrued portion was paid to the seller; it is not additional investment profit.
| Calculated outcome | Value and unit |
|---|---|
| Total settlement consideration | 100,500.00 USD |
| Quoted clean consideration | 99,500.00 USD |
| Accrued coupon payable at settlement | 1,000.00 USD |
Cash-funding feasibility is not assessed. Modelled value, interest or a conditional fee quote does not establish available settled cash.
The illustrative date origin is ; the recorded seed is 42 and the model is yieldguard-experiments-1.2.0. Dates and values are scenario inputs, not current observations. Readable percentages may be rounded; the evidence file preserves the kernel values.
Inspect the static calculation receipt
- Receipt identity
0d1043cd17dfb07adc88e89ff3fb468c4fe0df9ebda73e76883982af6d63a8c8- Input hash
55175643baa2f3a0d8a0cb190baf49dc6fce3bd2083d44d3dabc501ae57e39eb- Evidence class
- Illustrative assumptions; not observed customer evidence.
- Authority
- A content-addressed request and model-context record. No external signature, output attestation, independent assurance or production authority is established.
Starting assumptions and units.
| Assumption | Starting value |
|---|---|
| Treasury note or bond face value | 100000 USD |
| Clean price per USD 100 face | 99.5 USD/100 face |
| Annual coupon rate | 4 % |
| Actual days in full coupon period | 182 days |
| Accrued days at settlement | 91 days |
What the result establishes and leaves open.
The calculation is conditional on declared input values, model conventions and horizon. Reproducing the result checks the disclosed calculation path; it does not establish forecasting accuracy or the suitability of a real treasury decision.
- Illustrative user assumptions; no live market data or calibrated forecast.
- Results apply only to the declared mechanisms, horizon and search bounds.
- Regular semiannual coupon: accrued interest is half the annual coupon times actual accrued days divided by actual full-period days. The user supplies day counts; short/long coupons, ex-coupon trading and holidays are not inferred.
- The two-point timeline repeats the settlement-cost snapshot; it is not a mark-to-market or available-cash path. Source: https://www.ecfr.gov/current/title-31/subtitle-B/chapter-II/subchapter-A/part-306/subpart-E/section-306.35
- No market refresh, AI calculation, trade execution or forecast calibration.
- Receipts are content-addressed local calculation records, not externally signed attestations.
- Deterministic calculation: the seed is recorded for the common receipt contract; this experiment samples no random disturbances.
- Illustrative assumptions; no live data or forecast calibration.
- Timeline is a value series, not settlement availability. Cash-funding feasibility is not assessed.
The next useful question.
What is the mark-to-market effect of a yield change before a bill matures?
Test Yield shock and bill valueKeep a recurring question under review.
In the Laboratory, edit the assumptions and compare the result. Planned Macrovision would connect approved organisational evidence, material changes, assigned exception review and preserved decisions. AI prepares and explains; approved models calculate; your team decides.
Planned — not accepting paid engagements. The public Macrovision walkthrough follows a synthetic late-receipt case. The walkthrough demonstrates intended work and does not activate customer monitoring or imply that every Lab question is a supported paid workflow.
Financial assumptions are not automatically sent into an enquiry, analytics or a shared result URL. Any later transfer to a hosted workspace must be explicit.
YieldGuard Ltd, company number 16914415, registered in England and Wales. Technology and research; no payment, trading, custody or discretionary financial execution.