Treasury bill · Matured

912797SC2

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

Still priced, no longer analyzed. Risk numbers below are as of Mar 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, March 24, 2026

Yield to maturity
3.589%
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, 122 observations

3.55%3.60%3.65%3.70%3.75%3.80%3.85%3.90%Sep 25, 2025Mar 24, 2026Sep 25, 2025Yield to maturity3.875%Sep 30, 2025Yield to maturity3.852%Oct 3, 2025Yield to maturity3.829%Oct 8, 2025Yield to maturity3.838%Oct 14, 2025Yield to maturity3.825%Oct 17, 2025Yield to maturity3.802%Oct 22, 2025Yield to maturity3.791%Oct 27, 2025Yield to maturity3.757%Oct 30, 2025Yield to maturity3.829%Nov 4, 2025Yield to maturity3.838%Nov 7, 2025Yield to maturity3.825%Nov 13, 2025Yield to maturity3.845%Nov 18, 2025Yield to maturity3.822%Nov 21, 2025Yield to maturity3.820%Nov 26, 2025Yield to maturity3.818%Dec 2, 2025Yield to maturity3.754%Dec 5, 2025Yield to maturity3.690%Dec 10, 2025Yield to maturity3.658%Dec 15, 2025Yield to maturity3.604%Dec 18, 2025Yield to maturity3.582%Dec 23, 2025Yield to maturity3.612%Dec 29, 2025Yield to maturity3.630%Jan 2, 2026Yield to maturity3.597%Jan 7, 2026Yield to maturity3.575%Jan 12, 2026Yield to maturity3.615%Jan 15, 2026Yield to maturity3.634%Jan 21, 2026Yield to maturity3.642%Jan 26, 2026Yield to maturity3.692%Jan 29, 2026Yield to maturity3.701%Feb 3, 2026Yield to maturity3.699%Feb 6, 2026Yield to maturity3.697%Feb 11, 2026Yield to maturity3.686%Feb 17, 2026Yield to maturity3.694%Feb 20, 2026Yield to maturity3.672%Feb 25, 2026Yield to maturity3.681%Mar 2, 2026Yield to maturity3.699%Mar 5, 2026Yield to maturity3.688%Mar 10, 2026Yield to maturity3.676%Mar 13, 2026Yield to maturity3.684%Mar 18, 2026Yield to maturity3.602%Mar 23, 2026Yield to maturity3.651%Mar 24, 2026Yield to maturity3.589%

Price history

123 trading days to Mar 25, 2026

98.0098.5099.0099.50100.00Sep 25, 2025Mar 25, 2026Sep 25, 2025Close98.115Sep 30, 2025Close98.176Oct 3, 2025Close98.238Oct 8, 2025Close98.264Oct 14, 2025Close98.331Oct 17, 2025Close98.391Oct 22, 2025Close98.426Oct 27, 2025Close98.489Oct 30, 2025Close98.491Nov 4, 2025Close98.539Nov 7, 2025Close98.595Nov 13, 2025Close98.629Nov 18, 2025Close98.688Nov 21, 2025Close98.739Nov 26, 2025Close98.781Dec 2, 2025Close98.851Dec 5, 2025Close98.920Dec 10, 2025Close98.959Dec 15, 2025Close99.022Dec 18, 2025Close99.057Dec 23, 2025Close99.098Dec 29, 2025Close99.152Jan 2, 2026Close99.218Jan 7, 2026Close99.251Jan 12, 2026Close99.292Jan 15, 2026Close99.318Jan 21, 2026Close99.375Jan 26, 2026Close99.417Jan 29, 2026Close99.445Feb 3, 2026Close99.496Feb 6, 2026Close99.546Feb 11, 2026Close99.578Feb 17, 2026Close99.637Feb 20, 2026Close99.689Feb 25, 2026Close99.718Mar 2, 2026Close99.767Mar 5, 2026Close99.798Mar 10, 2026Close99.849Mar 13, 2026Close99.899Mar 18, 2026Close99.931Mar 23, 2026Close99.980Mar 25, 2026Close100.000
The most recent 20 trading days of prices for 912797SC2.
DateBidOfferClose
Mar 25, 2026–99.990100.000
Mar 24, 2026–99.98099.990
Mar 23, 2026–99.97099.980
Mar 20, 2026–99.94099.970
Mar 19, 202699.93199.93099.941
Mar 18, 202699.92199.92099.931
Mar 17, 202699.91099.91099.920
Mar 16, 202699.89999.89999.909
Mar 13, 202699.86999.86999.899
Mar 12, 202699.86099.85999.869
Mar 11, 202699.84999.84999.859
Mar 10, 202699.83999.83999.849
Mar 9, 202699.82999.82899.839
Mar 6, 202699.79999.79899.828
Mar 5, 202699.78999.78899.798
Mar 4, 202699.77999.77899.788
Mar 3, 202699.76899.76799.778
Mar 2, 202699.75999.75999.767
Feb 27, 202699.73099.72999.758
Feb 26, 202699.72099.71999.729

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 912797SC2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 22, 2025Sep 25, 2025New issue$73.0bn$76.0bn3.01x–
Dec 22, 2025Dec 26, 2025Reopening$86.0bn$90.0bn2.86x–
Feb 10, 2026Feb 12, 2026Reopening$90.0bn$95.2bn2.96x–

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.