US Treasuries securities held in stripped form has surged since May 2016. The Separate Trading of Registered Interest and Principal of Securities program, STRIPS, program is flourishing.
Treasury strips can be either in coupon strip form or principal strip form. And the 30 year Treasury bond is the logical security to strip (30 years x 2 semi annual payments = 60 possible strips per type).
Newly issued Treasury securities held in stripped form increased about $3.212 billion in August to a total of $254.293 billion, the Bureau of the Public Debt reported Thursday.