Treasury bill
912797SU2
- Original term
- 52-Week
- Maturity
- Nov 27, 2026
- Coupon
- –
- Pays
- None
- Dated
- –
- First coupon
- –
- Priced through
- Sep 30, 2026
- Analyzed through
- Sep 30, 2026
Statement of August 31, 2026
- Amount outstanding
- $228.40bn
- Held stripped
- not strippable
- Share stripped
- –
This security cannot be stripped, so no stripped figure exists for it rather than one that is zero. Stripping separates a coupon security into its individual interest and principal payments, which needs more than one cashflow to separate. Market statistics.
Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. The index figures are published per holding.
Risk, September 30, 2026
- Yield to maturity
- 4.071%
- Modified duration
- 0.155 yr
- DV01
- 0.0015
- Convexity
- 0.000482
- Dirty price
- 99.368
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 0.155 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 3.3 bp cheap to the curve on that day, 0.51 cents per 100 of face.
That is 2.20 standard deviations from its own typical residual.
Yield to maturity, 211 observations
Price history
211 trading days to Sep 30, 2026
| Date | Bid | Offer | Close |
|---|---|---|---|
| Sep 30, 2026 | 99.360 | 99.359 | 99.368 |
| Sep 29, 2026 | 99.342 | 99.341 | 99.357 |
| Sep 28, 2026 | 99.331 | 99.330 | 99.341 |
| Sep 25, 2026 | 99.299 | 99.298 | 99.333 |
| Sep 24, 2026 | 99.296 | 99.294 | 99.302 |
| Sep 23, 2026 | 99.287 | 99.285 | 99.296 |
| Sep 22, 2026 | 99.281 | 99.279 | 99.290 |
| Sep 21, 2026 | 99.269 | 99.267 | 99.279 |
| Sep 18, 2026 | 99.236 | 99.234 | 99.267 |
| Sep 17, 2026 | 99.227 | 99.225 | 99.238 |
| Sep 16, 2026 | 99.222 | 99.220 | 99.227 |
| Sep 15, 2026 | 99.206 | 99.205 | 99.222 |
| Sep 14, 2026 | 99.198 | 99.196 | 99.205 |
| Sep 11, 2026 | 99.174 | 99.172 | 99.200 |
| Sep 10, 2026 | 99.177 | 99.174 | 99.185 |
| Sep 9, 2026 | 99.180 | 99.179 | 99.183 |
| Sep 8, 2026 | 99.170 | 99.169 | 99.175 |
| Sep 4, 2026 | 99.130 | 99.127 | 99.169 |
| Sep 3, 2026 | 99.120 | 99.119 | 99.130 |
| Sep 2, 2026 | 99.105 | 99.104 | 99.115 |
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 date | Issued | Type | Offered | Accepted | Bid to cover | High yield |
|---|---|---|---|---|---|---|
| Nov 25, 2025 | Nov 28, 2025 | New issue | $50.0bn | $52.3bn | 3.08x | – |
| May 26, 2026 | May 28, 2026 | Reopening | $77.0bn | $80.0bn | 2.77x | – |
| Aug 24, 2026 | Aug 27, 2026 | Reopening | $92.0bn | $96.1bn | 3.08x | – |