Treasury bill · Matured

912797PV3

Original term
52-Week
Maturity
Mar 19, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Mar 18, 2026
Analyzed through
Mar 17, 2026

Still priced, no longer analyzed. Risk numbers below are as of Mar 17, 2026, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, March 17, 2026

Yield to maturity
3.610%
Modified duration
0.003 yr
DV01
0.0000
Convexity
0.000
Dirty price
99.990

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 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, 248 observations

3.4%3.6%3.8%4.0%4.2%4.4%Mar 20, 2025Mar 17, 2026Mar 20, 2025Yield to maturity4.064%Mar 28, 2025Yield to maturity4.050%Apr 7, 2025Yield to maturity3.876%Apr 15, 2025Yield to maturity4.013%Apr 23, 2025Yield to maturity4.042%May 1, 2025Yield to maturity3.954%May 9, 2025Yield to maturity4.090%May 19, 2025Yield to maturity4.152%May 28, 2025Yield to maturity4.213%Jun 5, 2025Yield to maturity4.136%Jun 13, 2025Yield to maturity4.144%Jun 24, 2025Yield to maturity4.067%Jul 2, 2025Yield to maturity4.055%Jul 11, 2025Yield to maturity4.127%Jul 21, 2025Yield to maturity4.146%Jul 29, 2025Yield to maturity4.166%Aug 6, 2025Yield to maturity4.006%Aug 14, 2025Yield to maturity3.983%Aug 22, 2025Yield to maturity3.961%Sep 2, 2025Yield to maturity3.908%Sep 10, 2025Yield to maturity3.771%Sep 18, 2025Yield to maturity3.844%Sep 26, 2025Yield to maturity3.861%Oct 6, 2025Yield to maturity3.836%Oct 15, 2025Yield to maturity3.854%Oct 23, 2025Yield to maturity3.788%Oct 31, 2025Yield to maturity3.836%Nov 10, 2025Yield to maturity3.822%Nov 19, 2025Yield to maturity3.839%Nov 28, 2025Yield to maturity3.825%Dec 8, 2025Yield to maturity3.687%Dec 16, 2025Yield to maturity3.622%Dec 24, 2025Yield to maturity3.629%Jan 5, 2026Yield to maturity3.584%Jan 13, 2026Yield to maturity3.622%Jan 22, 2026Yield to maturity3.680%Jan 30, 2026Yield to maturity3.697%Feb 9, 2026Yield to maturity3.684%Feb 18, 2026Yield to maturity3.681%Feb 26, 2026Yield to maturity3.668%Mar 6, 2026Yield to maturity3.704%Mar 16, 2026Yield to maturity3.651%Mar 17, 2026Yield to maturity3.610%

Price history

249 trading days to Mar 18, 2026

96979899100Mar 20, 2025Mar 18, 2026Mar 20, 2025Close96.078Mar 28, 2025Close96.195Apr 7, 2025Close96.435Apr 15, 2025Close96.396Apr 23, 2025Close96.454May 1, 2025Close96.612May 9, 2025Close96.605May 19, 2025Close96.642May 28, 2025Close96.692Jun 5, 2025Close96.838Jun 13, 2025Close96.941Jun 24, 2025Close97.093Jul 2, 2025Close97.187Jul 11, 2025Close97.258Jul 21, 2025Close97.333Jul 29, 2025Close97.409Aug 6, 2025Close97.592Aug 14, 2025Close97.690Aug 22, 2025Close97.808Sep 2, 2025Close97.931Sep 10, 2025Close98.084Sep 18, 2025Close98.130Sep 26, 2025Close98.224Oct 6, 2025Close98.316Oct 15, 2025Close98.400Oct 23, 2025Close98.508Oct 31, 2025Close98.591Nov 10, 2025Close98.688Nov 19, 2025Close98.764Nov 28, 2025Close98.881Dec 8, 2025Close99.000Dec 16, 2025Close99.095Dec 24, 2025Close99.182Jan 5, 2026Close99.298Jan 13, 2026Close99.369Jan 22, 2026Close99.448Jan 30, 2026Close99.546Feb 9, 2026Close99.628Feb 18, 2026Close99.718Feb 26, 2026Close99.799Mar 6, 2026Close99.899Mar 16, 2026Close99.980Mar 18, 2026Close100.000
The most recent 20 trading days of prices for 912797PV3.
DateBidOfferClose
Mar 18, 2026–99.990100.000
Mar 17, 2026–99.98099.990
Mar 16, 2026–99.97099.980
Mar 13, 2026–99.94099.970
Mar 12, 202699.93099.93099.940
Mar 11, 202699.92099.92099.930
Mar 10, 202699.91099.90999.920
Mar 9, 202699.89999.89999.909
Mar 6, 202699.86999.86999.899
Mar 5, 202699.86099.85999.869
Mar 4, 202699.84999.84999.859
Mar 3, 202699.83899.83899.848
Mar 2, 202699.82999.82899.838
Feb 27, 202699.79999.79999.829
Feb 26, 202699.79099.78999.799
Feb 25, 202699.78199.78199.789
Feb 24, 202699.77199.77199.781
Feb 23, 202699.76199.76099.771
Feb 20, 202699.73199.73199.761
Feb 19, 202699.72099.72099.731

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.

4 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 912797PV3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 18, 2025Mar 20, 2025New issue$48.0bn$48.1bn3.13x–
Sep 15, 2025Sep 18, 2025Reopening$73.0bn$75.1bn3.09x–
Dec 15, 2025Dec 18, 2025Reopening$86.0bn$89.0bn2.68x–
Feb 3, 2026Feb 5, 2026Reopening$90.0bn$94.1bn2.83x–

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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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.