Treasury bill · Matured

912797NG8

Original term
17-Week
Maturity
Feb 11, 2025
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Feb 10, 2025
Analyzed through
Feb 7, 2025

Still priced, no longer analyzed. Risk numbers below are as of Feb 7, 2025, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, February 7, 2025

Yield to maturity
4.310%
Modified duration
0.003 yr
DV01
0.0000
Convexity
0.000
Dirty price
99.988

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 cheap to the curve on that day.

Shown as a price rather than a yield. This bill is 4 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, 79 observations

4.2%4.3%4.4%4.5%4.6%4.7%Oct 15, 2024Feb 7, 2025Oct 15, 2024Yield to maturity4.589%Oct 17, 2024Yield to maturity4.598%Oct 21, 2024Yield to maturity4.606%Oct 23, 2024Yield to maturity4.605%Oct 25, 2024Yield to maturity4.613%Oct 29, 2024Yield to maturity4.591%Oct 31, 2024Yield to maturity4.559%Nov 4, 2024Yield to maturity4.526%Nov 6, 2024Yield to maturity4.524%Nov 8, 2024Yield to maturity4.532%Nov 13, 2024Yield to maturity4.500%Nov 15, 2024Yield to maturity4.498%Nov 19, 2024Yield to maturity4.507%Nov 21, 2024Yield to maturity4.506%Nov 25, 2024Yield to maturity4.514%Nov 27, 2024Yield to maturity4.492%Dec 2, 2024Yield to maturity4.489%Dec 4, 2024Yield to maturity4.457%Dec 6, 2024Yield to maturity4.373%Dec 10, 2024Yield to maturity4.361%Dec 12, 2024Yield to maturity4.329%Dec 16, 2024Yield to maturity4.348%Dec 18, 2024Yield to maturity4.347%Dec 20, 2024Yield to maturity4.314%Dec 24, 2024Yield to maturity4.364%Dec 27, 2024Yield to maturity4.321%Dec 31, 2024Yield to maturity4.299%Jan 3, 2025Yield to maturity4.317%Jan 7, 2025Yield to maturity4.306%Jan 9, 2025Yield to maturity4.315%Jan 13, 2025Yield to maturity4.313%Jan 15, 2025Yield to maturity4.302%Jan 17, 2025Yield to maturity4.299%Jan 22, 2025Yield to maturity4.309%Jan 24, 2025Yield to maturity4.317%Jan 28, 2025Yield to maturity4.336%Jan 30, 2025Yield to maturity4.325%Feb 3, 2025Yield to maturity4.313%Feb 5, 2025Yield to maturity4.312%Feb 7, 2025Yield to maturity4.310%

Price history

80 trading days to Feb 10, 2025

98.5098.7599.0099.2599.5099.75100.00Oct 15, 2024Feb 10, 2025Oct 15, 2024Close98.538Oct 17, 2024Close98.560Oct 21, 2024Close98.606Oct 23, 2024Close98.631Oct 25, 2024Close98.678Oct 29, 2024Close98.709Oct 31, 2024Close98.742Nov 4, 2024Close98.799Nov 6, 2024Close98.824Nov 8, 2024Close98.883Nov 13, 2024Close98.915Nov 15, 2024Close98.963Nov 19, 2024Close98.986Nov 21, 2024Close99.010Nov 25, 2024Close99.057Nov 27, 2024Close99.098Dec 2, 2024Close99.146Dec 4, 2024Close99.176Dec 6, 2024Close99.239Dec 10, 2024Close99.265Dec 12, 2024Close99.293Dec 16, 2024Close99.337Dec 18, 2024Close99.361Dec 20, 2024Close99.412Dec 24, 2024Close99.441Dec 27, 2024Close99.494Dec 31, 2024Close99.531Jan 3, 2025Close99.576Jan 7, 2025Close99.600Jan 9, 2025Close99.623Jan 13, 2025Close99.670Jan 15, 2025Close99.695Jan 17, 2025Close99.753Jan 22, 2025Close99.776Jan 24, 2025Close99.823Jan 28, 2025Close99.846Jan 30, 2025Close99.870Feb 3, 2025Close99.917Feb 5, 2025Close99.941Feb 7, 2025Close99.988Feb 10, 2025Close100.000
The most recent 20 trading days of prices for 912797NG8.
DateBidOfferClose
Feb 10, 2025–99.988100.000
Feb 7, 2025–99.95399.988
Feb 6, 2025–99.94199.953
Feb 5, 2025–99.92999.941
Feb 4, 202599.91899.91899.929
Feb 3, 202599.90699.90699.917
Jan 31, 202599.87099.87099.906
Jan 30, 202599.85899.85899.870
Jan 29, 202599.84699.84699.858
Jan 28, 202599.83599.83499.846
Jan 27, 202599.82399.82399.835
Jan 24, 202599.78899.78799.823
Jan 23, 202599.77699.77699.787
Jan 22, 202599.76599.76499.776
Jan 21, 202599.75499.75399.765
Jan 17, 202599.70799.70699.753
Jan 16, 202599.69599.69599.706
Jan 15, 202599.68399.68399.695
Jan 14, 202599.67199.67099.682
Jan 13, 202599.65999.65899.670

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 912797NG8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 9, 2024Oct 15, 2024New issue$64.0bn$64.2bn3.31x–
Dec 12, 2024Dec 17, 2024Reopening$75.0bn$75.3bn2.81x–
Jan 9, 2025Jan 14, 2025Reopening$95.0bn$95.3bn2.92x–

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.