Treasury bill · Matured

912797NH6

Original term
17-Week
Maturity
Feb 18, 2025
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Feb 14, 2025
Analyzed through
Feb 13, 2025

Still priced, no longer analyzed. Risk numbers below are as of Feb 13, 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 13, 2025

Yield to maturity
4.321%
Modified duration
0.011 yr
DV01
0.0001
Convexity
0.000
Dirty price
99.953

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 0.011 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 5 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, 78 observations

4.2%4.3%4.4%4.5%4.6%4.7%Oct 22, 2024Feb 13, 2025Oct 22, 2024Yield to maturity4.599%Oct 24, 2024Yield to maturity4.598%Oct 28, 2024Yield to maturity4.596%Oct 30, 2024Yield to maturity4.574%Nov 1, 2024Yield to maturity4.530%Nov 5, 2024Yield to maturity4.508%Nov 7, 2024Yield to maturity4.517%Nov 12, 2024Yield to maturity4.525%Nov 14, 2024Yield to maturity4.472%Nov 18, 2024Yield to maturity4.480%Nov 20, 2024Yield to maturity4.479%Nov 22, 2024Yield to maturity4.508%Nov 26, 2024Yield to maturity4.486%Nov 29, 2024Yield to maturity4.463%Dec 3, 2024Yield to maturity4.451%Dec 5, 2024Yield to maturity4.419%Dec 9, 2024Yield to maturity4.396%Dec 11, 2024Yield to maturity4.334%Dec 13, 2024Yield to maturity4.321%Dec 17, 2024Yield to maturity4.320%Dec 19, 2024Yield to maturity4.309%Dec 23, 2024Yield to maturity4.338%Dec 26, 2024Yield to maturity4.367%Dec 30, 2024Yield to maturity4.303%Jan 2, 2025Yield to maturity4.333%Jan 6, 2025Yield to maturity4.330%Jan 8, 2025Yield to maturity4.289%Jan 10, 2025Yield to maturity4.307%Jan 14, 2025Yield to maturity4.296%Jan 16, 2025Yield to maturity4.315%Jan 21, 2025Yield to maturity4.313%Jan 23, 2025Yield to maturity4.322%Jan 27, 2025Yield to maturity4.330%Jan 29, 2025Yield to maturity4.339%Jan 31, 2025Yield to maturity4.317%Feb 4, 2025Yield to maturity4.316%Feb 6, 2025Yield to maturity4.315%Feb 10, 2025Yield to maturity4.323%Feb 12, 2025Yield to maturity4.332%Feb 13, 2025Yield to maturity4.321%

Price history

79 trading days to Feb 14, 2025

98.5098.7599.0099.2599.5099.75100.00Oct 22, 2024Feb 14, 2025Oct 22, 2024Close98.535Oct 24, 2024Close98.560Oct 28, 2024Close98.609Oct 30, 2024Close98.640Nov 1, 2024Close98.701Nov 5, 2024Close98.732Nov 7, 2024Close98.753Nov 12, 2024Close98.812Nov 14, 2024Close98.849Nov 18, 2024Close98.895Nov 20, 2024Close98.920Nov 22, 2024Close98.961Nov 26, 2024Close98.990Nov 29, 2024Close99.055Dec 3, 2024Close99.082Dec 5, 2024Close99.112Dec 9, 2024Close99.164Dec 11, 2024Close99.199Dec 13, 2024Close99.248Dec 17, 2024Close99.272Dec 19, 2024Close99.297Dec 23, 2024Close99.339Dec 26, 2024Close99.370Dec 30, 2024Close99.426Jan 2, 2025Close99.457Jan 6, 2025Close99.504Jan 8, 2025Close99.532Jan 10, 2025Close99.577Jan 14, 2025Close99.601Jan 16, 2025Close99.623Jan 21, 2025Close99.682Jan 23, 2025Close99.705Jan 27, 2025Close99.751Jan 29, 2025Close99.775Jan 31, 2025Close99.823Feb 4, 2025Close99.847Feb 6, 2025Close99.870Feb 10, 2025Close99.917Feb 12, 2025Close99.941Feb 14, 2025Close100.000
The most recent 20 trading days of prices for 912797NH6.
DateBidOfferClose
Feb 14, 2025–99.953100.000
Feb 13, 2025–99.94199.953
Feb 12, 2025–99.92999.941
Feb 11, 202599.91899.91799.929
Feb 10, 202599.90699.90599.917
Feb 7, 202599.87099.87099.905
Feb 6, 202599.85999.85899.870
Feb 5, 202599.84799.84799.859
Feb 4, 202599.83599.83599.847
Feb 3, 202599.82399.82399.835
Jan 31, 202599.78799.78799.823
Jan 30, 202599.77599.77599.787
Jan 29, 202599.76399.76399.775
Jan 28, 202599.75299.75199.763
Jan 27, 202599.74199.74099.751
Jan 24, 202599.70599.70599.740
Jan 23, 202599.69399.69299.705
Jan 22, 202599.68299.68199.693
Jan 21, 202599.67199.67099.682
Jan 17, 202599.62399.62299.669

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 912797NH6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 16, 2024Oct 22, 2024New issue$64.0bn$64.2bn3.05x–
Dec 19, 2024Dec 24, 2024Reopening$75.0bn$75.2bn2.98x–
Jan 16, 2025Jan 21, 2025Reopening$95.0bn$95.3bn2.74x–

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.