Treasury bill · Matured

912797RU3

Original term
26-Week
Maturity
Feb 26, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Feb 25, 2026
Analyzed through
Feb 24, 2026

Still priced, no longer analyzed. Risk numbers below are as of Feb 24, 2026, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, February 24, 2026

Yield to maturity
3.600%
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 0.01 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, 121 observations

3.5%3.6%3.7%3.8%3.9%4.0%4.1%Aug 28, 2025Feb 24, 2026Aug 28, 2025Yield to maturity4.012%Sep 3, 2025Yield to maturity3.978%Sep 8, 2025Yield to maturity3.871%Sep 11, 2025Yield to maturity3.838%Sep 16, 2025Yield to maturity3.836%Sep 19, 2025Yield to maturity3.844%Sep 24, 2025Yield to maturity3.843%Sep 29, 2025Yield to maturity3.852%Oct 2, 2025Yield to maturity3.819%Oct 7, 2025Yield to maturity3.838%Oct 10, 2025Yield to maturity3.846%Oct 16, 2025Yield to maturity3.834%Oct 21, 2025Yield to maturity3.801%Oct 24, 2025Yield to maturity3.799%Oct 29, 2025Yield to maturity3.829%Nov 3, 2025Yield to maturity3.848%Nov 6, 2025Yield to maturity3.815%Nov 12, 2025Yield to maturity3.813%Nov 17, 2025Yield to maturity3.832%Nov 20, 2025Yield to maturity3.841%Nov 25, 2025Yield to maturity3.787%Dec 1, 2025Yield to maturity3.785%Dec 4, 2025Yield to maturity3.681%Dec 9, 2025Yield to maturity3.699%Dec 12, 2025Yield to maturity3.605%Dec 17, 2025Yield to maturity3.593%Dec 22, 2025Yield to maturity3.602%Dec 26, 2025Yield to maturity3.600%Dec 31, 2025Yield to maturity3.650%Jan 6, 2026Yield to maturity3.597%Jan 9, 2026Yield to maturity3.615%Jan 14, 2026Yield to maturity3.645%Jan 20, 2026Yield to maturity3.673%Jan 23, 2026Yield to maturity3.682%Jan 28, 2026Yield to maturity3.701%Feb 2, 2026Yield to maturity3.669%Feb 5, 2026Yield to maturity3.678%Feb 10, 2026Yield to maturity3.666%Feb 13, 2026Yield to maturity3.653%Feb 19, 2026Yield to maturity3.561%Feb 24, 2026Yield to maturity3.600%

Price history

122 trading days to Feb 25, 2026

98.0098.5099.0099.50100.00Aug 28, 2025Feb 25, 2026Aug 28, 2025Close98.049Sep 3, 2025Close98.128Sep 8, 2025Close98.229Sep 11, 2025Close98.274Sep 16, 2025Close98.326Sep 19, 2025Close98.373Sep 24, 2025Close98.404Sep 29, 2025Close98.452Oct 2, 2025Close98.495Oct 7, 2025Close98.539Oct 10, 2025Close98.597Oct 16, 2025Close98.632Oct 21, 2025Close98.695Oct 24, 2025Close98.746Oct 29, 2025Close98.767Nov 3, 2025Close98.813Nov 6, 2025Close98.853Nov 12, 2025Close98.915Nov 17, 2025Close98.961Nov 20, 2025Close98.990Nov 25, 2025Close99.054Dec 1, 2025Close99.116Dec 4, 2025Close99.170Dec 9, 2025Close99.216Dec 12, 2025Close99.284Dec 17, 2025Close99.316Dec 22, 2025Close99.363Dec 26, 2025Close99.421Dec 31, 2025Close99.453Jan 6, 2026Close99.510Jan 9, 2026Close99.556Jan 14, 2026Close99.582Jan 20, 2026Close99.639Jan 23, 2026Close99.688Jan 28, 2026Close99.717Feb 2, 2026Close99.769Feb 5, 2026Close99.799Feb 10, 2026Close99.850Feb 13, 2026Close99.910Feb 19, 2026Close99.942Feb 24, 2026Close99.990Feb 25, 2026Close100.000
The most recent 20 trading days of prices for 912797RU3.
DateBidOfferClose
Feb 25, 2026–99.990100.000
Feb 24, 2026–99.98099.990
Feb 23, 2026–99.97099.980
Feb 20, 2026–99.94199.971
Feb 19, 202699.93299.93299.942
Feb 18, 202699.92099.92099.931
Feb 17, 202699.91099.90999.920
Feb 13, 202699.87099.87099.910
Feb 12, 202699.86099.86099.870
Feb 11, 202699.85099.85099.860
Feb 10, 202699.84099.84099.850
Feb 9, 202699.82999.82999.840
Feb 6, 202699.79999.79999.829
Feb 5, 202699.78999.78999.799
Feb 4, 202699.78099.77999.789
Feb 3, 202699.76999.76999.779
Feb 2, 202699.75999.75999.769
Jan 30, 202699.72899.72899.758
Jan 29, 202699.71899.71899.728
Jan 28, 202699.70899.70899.717

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 912797RU3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 25, 2025Aug 28, 2025New issue$73.0bn$76.2bn3.36x–
Nov 24, 2025Nov 28, 2025Reopening$86.0bn$90.0bn2.85x–
Jan 13, 2026Jan 15, 2026Reopening$75.0bn$77.5bn2.97x–

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.