Treasury bill · Matured

912797PG6

Original term
26-Week
Maturity
Jul 31, 2025
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Jul 30, 2025
Analyzed through
Jul 29, 2025

Still priced, no longer analyzed. Risk numbers below are as of Jul 29, 2025, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, July 29, 2025

Yield to maturity
4.320%
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 0.02 cents per 100 of face cheap 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, 125 observations

4.10%4.15%4.20%4.25%4.30%4.35%4.40%Jan 30, 2025Jul 29, 2025Jan 30, 2025Yield to maturity4.308%Feb 4, 2025Yield to maturity4.316%Feb 7, 2025Yield to maturity4.334%Feb 12, 2025Yield to maturity4.365%Feb 18, 2025Yield to maturity4.361%Feb 21, 2025Yield to maturity4.327%Feb 26, 2025Yield to maturity4.336%Mar 3, 2025Yield to maturity4.292%Mar 6, 2025Yield to maturity4.259%Mar 11, 2025Yield to maturity4.267%Mar 14, 2025Yield to maturity4.264%Mar 19, 2025Yield to maturity4.284%Mar 24, 2025Yield to maturity4.281%Mar 27, 2025Yield to maturity4.311%Apr 1, 2025Yield to maturity4.298%Apr 4, 2025Yield to maturity4.254%Apr 9, 2025Yield to maturity4.356%Apr 14, 2025Yield to maturity4.323%Apr 17, 2025Yield to maturity4.215%Apr 22, 2025Yield to maturity4.318%Apr 25, 2025Yield to maturity4.316%Apr 30, 2025Yield to maturity4.304%May 5, 2025Yield to maturity4.322%May 8, 2025Yield to maturity4.310%May 13, 2025Yield to maturity4.349%May 16, 2025Yield to maturity4.305%May 21, 2025Yield to maturity4.324%May 27, 2025Yield to maturity4.332%May 30, 2025Yield to maturity4.319%Jun 4, 2025Yield to maturity4.317%Jun 9, 2025Yield to maturity4.315%Jun 12, 2025Yield to maturity4.293%Jun 17, 2025Yield to maturity4.270%Jun 23, 2025Yield to maturity4.267%Jun 26, 2025Yield to maturity4.142%Jul 1, 2025Yield to maturity4.252%Jul 7, 2025Yield to maturity4.260%Jul 10, 2025Yield to maturity4.268%Jul 15, 2025Yield to maturity4.307%Jul 18, 2025Yield to maturity4.304%Jul 23, 2025Yield to maturity4.262%Jul 28, 2025Yield to maturity4.310%Jul 29, 2025Yield to maturity4.320%

Price history

126 trading days to Jul 30, 2025

97.5098.0098.5099.0099.50100.00Jan 30, 2025Jul 30, 2025Jan 30, 2025Close97.908Feb 4, 2025Close97.961Feb 7, 2025Close98.010Feb 12, 2025Close98.031Feb 18, 2025Close98.101Feb 21, 2025Close98.173Feb 26, 2025Close98.203Mar 3, 2025Close98.278Mar 6, 2025Close98.325Mar 11, 2025Close98.379Mar 14, 2025Close98.436Mar 19, 2025Close98.463Mar 24, 2025Close98.521Mar 27, 2025Close98.545Apr 1, 2025Close98.607Apr 4, 2025Close98.677Apr 9, 2025Close98.681Apr 14, 2025Close98.749Apr 17, 2025Close98.813Apr 22, 2025Close98.842Apr 25, 2025Close98.901Apr 30, 2025Close98.938May 5, 2025Close98.992May 8, 2025Close99.029May 13, 2025Close99.079May 16, 2025Close99.146May 21, 2025Close99.177May 27, 2025Close99.246May 30, 2025Close99.307Jun 4, 2025Close99.342Jun 9, 2025Close99.401Jun 12, 2025Close99.439Jun 17, 2025Close99.500Jun 23, 2025Close99.569Jun 26, 2025Close99.616Jul 1, 2025Close99.663Jul 7, 2025Close99.732Jul 10, 2025Close99.767Jul 15, 2025Close99.823Jul 18, 2025Close99.882Jul 23, 2025Close99.918Jul 28, 2025Close99.976Jul 30, 2025Close100.000
The most recent 20 trading days of prices for 912797PG6.
DateBidOfferClose
Jul 30, 2025–99.988100.000
Jul 29, 2025–99.97699.988
Jul 28, 2025–99.96599.976
Jul 25, 2025–99.93099.965
Jul 24, 202599.91899.91899.930
Jul 23, 202599.90799.90799.918
Jul 22, 202599.89599.89599.906
Jul 21, 202599.88399.88299.894
Jul 18, 202599.84899.84799.882
Jul 17, 202599.83699.83599.847
Jul 16, 202599.82499.82399.836
Jul 15, 202599.81299.81299.823
Jul 14, 202599.80199.80199.813
Jul 11, 202599.76699.76699.801
Jul 10, 202599.75599.75499.767
Jul 9, 202599.74399.74399.755
Jul 8, 202599.73199.73099.743
Jul 7, 202599.72199.72199.732
Jul 3, 202599.67499.67399.721
Jul 2, 202599.66399.66299.674

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 912797PG6.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 27, 2025Jan 30, 2025New issue$72.0bn$79.1bn2.92x–
Apr 28, 2025May 1, 2025Reopening$76.0bn$81.6bn3.10x–
Jun 17, 2025Jun 20, 2025Reopening$55.0bn$56.3bn2.78x–

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.