Treasury bill · Matured

912797SP3

Original term
26-Week
Maturity
May 7, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
May 6, 2026
Analyzed through
May 5, 2026

Still priced, no longer analyzed. Risk numbers below are as of May 5, 2026, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, May 5, 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 0.00 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, 123 observations

3.55%3.60%3.65%3.70%3.75%3.80%3.85%Nov 6, 2025May 5, 2026Nov 6, 2025Yield to maturity3.791%Nov 12, 2025Yield to maturity3.810%Nov 17, 2025Yield to maturity3.839%Nov 20, 2025Yield to maturity3.817%Nov 25, 2025Yield to maturity3.773%Dec 1, 2025Yield to maturity3.771%Dec 4, 2025Yield to maturity3.686%Dec 9, 2025Yield to maturity3.684%Dec 12, 2025Yield to maturity3.599%Dec 17, 2025Yield to maturity3.577%Dec 22, 2025Yield to maturity3.596%Dec 26, 2025Yield to maturity3.594%Dec 31, 2025Yield to maturity3.623%Jan 6, 2026Yield to maturity3.570%Jan 9, 2026Yield to maturity3.599%Jan 14, 2026Yield to maturity3.629%Jan 20, 2026Yield to maturity3.648%Jan 23, 2026Yield to maturity3.646%Jan 28, 2026Yield to maturity3.655%Feb 2, 2026Yield to maturity3.674%Feb 5, 2026Yield to maturity3.673%Feb 10, 2026Yield to maturity3.681%Feb 13, 2026Yield to maturity3.679%Feb 19, 2026Yield to maturity3.688%Feb 24, 2026Yield to maturity3.676%Feb 27, 2026Yield to maturity3.685%Mar 4, 2026Yield to maturity3.694%Mar 9, 2026Yield to maturity3.702%Mar 12, 2026Yield to maturity3.691%Mar 17, 2026Yield to maturity3.699%Mar 20, 2026Yield to maturity3.697%Mar 25, 2026Yield to maturity3.706%Mar 30, 2026Yield to maturity3.704%Apr 2, 2026Yield to maturity3.693%Apr 7, 2026Yield to maturity3.650%Apr 10, 2026Yield to maturity3.659%Apr 15, 2026Yield to maturity3.678%Apr 20, 2026Yield to maturity3.666%Apr 23, 2026Yield to maturity3.624%Apr 28, 2026Yield to maturity3.643%May 1, 2026Yield to maturity3.641%May 5, 2026Yield to maturity3.589%

Price history

124 trading days to May 6, 2026

98.0098.5099.0099.50100.00Nov 6, 2025May 6, 2026Nov 6, 2025Close98.155Nov 12, 2025Close98.206Nov 17, 2025Close98.243Nov 20, 2025Close98.284Nov 25, 2025Close98.353Dec 1, 2025Close98.414Dec 4, 2025Close98.478Dec 9, 2025Close98.528Dec 12, 2025Close98.610Dec 17, 2025Close98.647Dec 22, 2025Close98.688Dec 26, 2025Close98.746Dec 31, 2025Close98.774Jan 6, 2026Close98.840Jan 9, 2026Close98.879Jan 14, 2026Close98.899Jan 20, 2026Close98.952Jan 23, 2026Close99.001Jan 28, 2026Close99.028Feb 2, 2026Close99.073Feb 5, 2026Close99.103Feb 10, 2026Close99.150Feb 13, 2026Close99.210Feb 19, 2026Close99.238Feb 24, 2026Close99.290Feb 27, 2026Close99.338Mar 4, 2026Close99.367Mar 9, 2026Close99.415Mar 12, 2026Close99.447Mar 17, 2026Close99.496Mar 20, 2026Close99.546Mar 25, 2026Close99.575Mar 30, 2026Close99.626Apr 2, 2026Close99.657Apr 7, 2026Close99.711Apr 10, 2026Close99.760Apr 15, 2026Close99.789Apr 20, 2026Close99.840Apr 23, 2026Close99.871Apr 28, 2026Close99.920May 1, 2026Close99.970May 6, 2026Close100.000
The most recent 20 trading days of prices for 912797SP3.
DateBidOfferClose
May 6, 2026–99.990100.000
May 5, 2026–99.98099.990
May 4, 2026–99.97099.980
May 1, 2026–99.94099.970
Apr 30, 202699.93199.93099.940
Apr 29, 202699.92199.92099.930
Apr 28, 202699.91099.91099.920
Apr 27, 202699.90199.90099.910
Apr 24, 202699.87199.87099.900
Apr 23, 202699.86299.86199.871
Apr 22, 202699.85199.85099.861
Apr 21, 202699.84199.84099.851
Apr 20, 202699.83099.83099.840
Apr 17, 202699.80099.79999.829
Apr 16, 202699.79099.78999.799
Apr 15, 202699.77999.77999.789
Apr 14, 202699.76999.76999.779
Apr 13, 202699.76199.76099.769
Apr 10, 202699.73399.73299.760
Apr 9, 202699.72299.72299.732

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 912797SP3.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Nov 3, 2025Nov 6, 2025New issue$77.0bn$80.6bn2.92x–
Feb 2, 2026Feb 5, 2026Reopening$89.0bn$93.0bn2.81x–
Mar 24, 2026Mar 26, 2026Reopening$80.0bn$84.0bn2.98x–

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.