Treasury bill · Matured

912796QH5

Original term: 52-Week
Maturity: May 23, 2019
Coupon: –
Pays: None
Dated: –
First coupon: –
Priced through: May 22, 2019
Analyzed through: May 21, 2019

Still priced, no longer analyzed. Risk numbers below are as of May 21, 2019, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, May 21, 2019

Yield to maturity: 2.308%
Modified duration: 0.003 yr
DV01: 0.0000
Convexity: 0.000
Dirty price: 99.994

Where its rate sensitivity sits

All of it in one place. A bill pays a single cashflow at maturity, so its key rate profile is its modified duration of 0.003 years, sitting in the nearest bucket and nothing anywhere else. That is also why its duration equals its remaining term rather than being shorter: there are no coupons to pull the average payment date forward. A twelve-bucket chart of that would be eleven empty bars.

Against the money market curve

Priced 0.00 cents per 100 of face rich to the curve on that day.

Shown as a price rather than a yield. This bill is 2 days from redemption, and inside a month the difference between its price and the curve annualizes into a number that looks like an enormous mispricing rather than the fraction of a cent it is: worst case across eighteen years, 1,435 basis points on a residual of four cents. Its yield above is unaffected and stands: a bill quotes on an investment-rate basis, which is the market's own convention rather than an annualized stub.

Yield to maturity, 247 observations

Price history

248 trading days to May 22, 2019

The most recent 20 trading days of prices for 912796QH5.
Date	Bid	Offer	Close
May 22, 2019	–	99.994	100.000
May 21, 2019	–	99.987	99.994
May 20, 2019	–	99.981	99.987
May 17, 2019	–	99.962	99.981
May 16, 2019	99.955	99.955	99.962
May 15, 2019	99.948	99.948	99.954
May 14, 2019	99.941	99.941	99.948
May 13, 2019	99.935	99.934	99.941
May 10, 2019	99.914	99.914	99.934
May 9, 2019	99.908	99.907	99.914
May 8, 2019	99.901	99.901	99.907
May 7, 2019	99.895	99.895	99.901
May 6, 2019	99.889	99.888	99.895
May 3, 2019	99.870	99.869	99.889
May 2, 2019	99.863	99.863	99.869
May 1, 2019	99.855	99.855	99.862
Apr 30, 2019	99.848	99.848	99.856
Apr 29, 2019	99.840	99.840	99.845
Apr 26, 2019	99.823	99.822	99.841
Apr 25, 2019	99.817	99.816	99.822

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 912796QH5.
Auction date	Issued	Type	Offered	Accepted	Bid to cover	High yield
May 22, 2018	May 24, 2018	New issue	$26.0bn	$26.0bn	3.68x	–
Nov 19, 2018	Nov 23, 2018	Reopening	$36.0bn	$36.0bn	3.16x	–
Feb 19, 2019	Feb 21, 2019	Reopening	$45.0bn	$45.0bn	2.99x	–

The curve this was priced against →