Treasury bill · Matured

912797QJ9

Original term
17-Week
Maturity
Aug 12, 2025
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Aug 11, 2025
Analyzed through
Aug 8, 2025

Still priced, no longer analyzed. Risk numbers below are as of Aug 8, 2025, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, August 8, 2025

Yield to maturity
4.279%
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 rich 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, 81 observations

4.20%4.25%4.30%4.35%4.40%4.45%4.50%Apr 15, 2025Aug 8, 2025Apr 15, 2025Yield to maturity4.328%Apr 17, 2025Yield to maturity4.234%Apr 21, 2025Yield to maturity4.336%Apr 23, 2025Yield to maturity4.324%Apr 25, 2025Yield to maturity4.322%Apr 29, 2025Yield to maturity4.311%May 1, 2025Yield to maturity4.310%May 5, 2025Yield to maturity4.328%May 7, 2025Yield to maturity4.317%May 9, 2025Yield to maturity4.315%May 13, 2025Yield to maturity4.376%May 15, 2025Yield to maturity4.354%May 19, 2025Yield to maturity4.363%May 21, 2025Yield to maturity4.330%May 23, 2025Yield to maturity4.338%May 28, 2025Yield to maturity4.327%May 30, 2025Yield to maturity4.345%Jun 3, 2025Yield to maturity4.334%Jun 5, 2025Yield to maturity4.323%Jun 9, 2025Yield to maturity4.331%Jun 11, 2025Yield to maturity4.340%Jun 13, 2025Yield to maturity4.410%Jun 17, 2025Yield to maturity4.419%Jun 20, 2025Yield to maturity4.447%Jun 24, 2025Yield to maturity4.436%Jun 26, 2025Yield to maturity4.415%Jun 30, 2025Yield to maturity4.382%Jul 2, 2025Yield to maturity4.370%Jul 7, 2025Yield to maturity4.347%Jul 9, 2025Yield to maturity4.326%Jul 11, 2025Yield to maturity4.324%Jul 15, 2025Yield to maturity4.313%Jul 17, 2025Yield to maturity4.312%Jul 21, 2025Yield to maturity4.299%Jul 23, 2025Yield to maturity4.288%Jul 25, 2025Yield to maturity4.296%Jul 29, 2025Yield to maturity4.316%Jul 31, 2025Yield to maturity4.355%Aug 4, 2025Yield to maturity4.333%Aug 6, 2025Yield to maturity4.322%Aug 8, 2025Yield to maturity4.279%

Price history

82 trading days to Aug 11, 2025

98.5098.7599.0099.2599.5099.75100.00Apr 15, 2025Aug 11, 2025Apr 15, 2025Close98.620Apr 17, 2025Close98.672Apr 21, 2025Close98.687Apr 23, 2025Close98.714Apr 25, 2025Close98.760Apr 29, 2025Close98.787May 1, 2025Close98.810May 5, 2025Close98.851May 7, 2025Close98.877May 9, 2025Close98.924May 13, 2025Close98.933May 15, 2025Close98.961May 19, 2025Close99.006May 21, 2025Close99.037May 23, 2025Close99.093May 28, 2025Close99.119May 30, 2025Close99.162Jun 3, 2025Close99.187Jun 5, 2025Close99.213Jun 9, 2025Close99.258Jun 11, 2025Close99.280Jun 13, 2025Close99.316Jun 17, 2025Close99.338Jun 20, 2025Close99.394Jun 24, 2025Close99.420Jun 26, 2025Close99.447Jun 30, 2025Close99.498Jul 2, 2025Close99.523Jul 7, 2025Close99.585Jul 9, 2025Close99.610Jul 11, 2025Close99.658Jul 15, 2025Close99.682Jul 17, 2025Close99.706Jul 21, 2025Close99.753Jul 23, 2025Close99.777Jul 25, 2025Close99.824Jul 29, 2025Close99.847Jul 31, 2025Close99.869Aug 4, 2025Close99.917Aug 6, 2025Close99.941Aug 8, 2025Close99.988Aug 11, 2025Close100.000
The most recent 20 trading days of prices for 912797QJ9.
DateBidOfferClose
Aug 11, 2025–99.988100.000
Aug 8, 2025–99.95399.988
Aug 7, 2025–99.94199.953
Aug 6, 2025–99.92999.941
Aug 5, 202599.91799.91799.929
Aug 4, 202599.90599.90599.917
Aug 1, 202599.87099.87099.905
Jul 31, 202599.85899.85899.869
Jul 30, 202599.84799.84699.858
Jul 29, 202599.83599.83599.847
Jul 28, 202599.82499.82399.835
Jul 25, 202599.78999.78899.824
Jul 24, 202599.77899.77799.789
Jul 23, 202599.76699.76599.777
Jul 22, 202599.75499.75499.766
Jul 21, 202599.74199.74099.753
Jul 18, 202599.70799.70699.741
Jul 17, 202599.69499.69499.706
Jul 16, 202599.68299.68299.694
Jul 15, 202599.67199.67099.682

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 912797QJ9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Apr 9, 2025Apr 15, 2025New issue$60.0bn$60.2bn2.71x–
Jun 12, 2025Jun 17, 2025Reopening$55.0bn$55.2bn2.67x–
Jul 10, 2025Jul 15, 2025Reopening$80.0bn$80.3bn3.08x–

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.