Treasury bill · Matured

912797TP2

Original term
26-Week
Maturity
Jul 23, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Jul 22, 2026
Analyzed through
Jul 21, 2026

Still priced, no longer analyzed. Risk numbers below are as of Jul 21, 2026, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, July 21, 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 0.05 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, 125 observations

3.58%3.60%3.63%3.65%3.67%3.70%3.73%Jan 22, 2026Jul 21, 2026Jan 22, 2026Yield to maturity3.644%Jan 27, 2026Yield to maturity3.631%Jan 30, 2026Yield to maturity3.640%Feb 4, 2026Yield to maturity3.660%Feb 9, 2026Yield to maturity3.627%Feb 12, 2026Yield to maturity3.636%Feb 18, 2026Yield to maturity3.644%Feb 23, 2026Yield to maturity3.653%Feb 26, 2026Yield to maturity3.631%Mar 3, 2026Yield to maturity3.650%Mar 6, 2026Yield to maturity3.659%Mar 11, 2026Yield to maturity3.668%Mar 16, 2026Yield to maturity3.677%Mar 19, 2026Yield to maturity3.696%Mar 24, 2026Yield to maturity3.705%Mar 27, 2026Yield to maturity3.713%Apr 1, 2026Yield to maturity3.681%Apr 6, 2026Yield to maturity3.700%Apr 9, 2026Yield to maturity3.668%Apr 14, 2026Yield to maturity3.676%Apr 17, 2026Yield to maturity3.685%Apr 22, 2026Yield to maturity3.684%Apr 27, 2026Yield to maturity3.682%Apr 30, 2026Yield to maturity3.691%May 5, 2026Yield to maturity3.679%May 8, 2026Yield to maturity3.667%May 13, 2026Yield to maturity3.665%May 18, 2026Yield to maturity3.633%May 21, 2026Yield to maturity3.652%May 27, 2026Yield to maturity3.671%Jun 1, 2026Yield to maturity3.699%Jun 4, 2026Yield to maturity3.688%Jun 9, 2026Yield to maturity3.666%Jun 12, 2026Yield to maturity3.674%Jun 17, 2026Yield to maturity3.663%Jun 23, 2026Yield to maturity3.620%Jun 26, 2026Yield to maturity3.649%Jul 1, 2026Yield to maturity3.597%Jul 7, 2026Yield to maturity3.615%Jul 10, 2026Yield to maturity3.623%Jul 15, 2026Yield to maturity3.632%Jul 20, 2026Yield to maturity3.580%Jul 21, 2026Yield to maturity3.600%

Price history

126 trading days to Jul 22, 2026

98.0098.5099.0099.50100.00Jan 22, 2026Jul 22, 2026Jan 22, 2026Close98.225Jan 27, 2026Close98.279Jan 30, 2026Close98.323Feb 4, 2026Close98.343Feb 9, 2026Close98.406Feb 12, 2026Close98.431Feb 18, 2026Close98.486Feb 23, 2026Close98.531Feb 26, 2026Close98.568Mar 3, 2026Close98.610Mar 6, 2026Close98.655Mar 11, 2026Close98.681Mar 16, 2026Close98.727Mar 19, 2026Close98.750Mar 24, 2026Close98.797Mar 27, 2026Close98.844Apr 1, 2026Close98.883Apr 6, 2026Close98.927Apr 9, 2026Close98.966Apr 14, 2026Close99.013Apr 17, 2026Close99.060Apr 22, 2026Close99.090Apr 27, 2026Close99.140Apr 30, 2026Close99.168May 5, 2026Close99.220May 8, 2026Close99.272May 13, 2026Close99.302May 18, 2026Close99.357May 21, 2026Close99.383May 27, 2026Close99.440Jun 1, 2026Close99.486Jun 4, 2026Close99.517Jun 9, 2026Close99.570Jun 12, 2026Close99.619Jun 17, 2026Close99.650Jun 23, 2026Close99.713Jun 26, 2026Close99.761Jul 1, 2026Close99.793Jul 7, 2026Close99.852Jul 10, 2026Close99.901Jul 15, 2026Close99.930Jul 20, 2026Close99.980Jul 22, 2026Close100.000
The most recent 20 trading days of prices for 912797TP2.
DateBidOfferClose
Jul 22, 2026–99.990100.000
Jul 21, 2026–99.98099.990
Jul 20, 2026–99.97199.980
Jul 17, 2026–99.94199.971
Jul 16, 202699.93199.93199.941
Jul 15, 202699.92199.92099.930
Jul 14, 202699.91199.91099.920
Jul 13, 202699.90199.90199.911
Jul 10, 202699.87299.87299.901
Jul 9, 202699.86299.86299.871
Jul 8, 202699.85299.85199.862
Jul 7, 202699.84399.84299.852
Jul 6, 202699.83399.83399.843
Jul 2, 202699.79599.79499.833
Jul 1, 202699.78199.78199.793
Jun 30, 202699.77099.77099.781
Jun 29, 202699.76099.75999.769
Jun 26, 202699.73299.73199.761
Jun 25, 202699.72399.72299.734
Jun 24, 202699.71499.71499.724

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 912797TP2.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jan 20, 2026Jan 22, 2026New issue$77.0bn$80.3bn2.95x–
Apr 20, 2026Apr 23, 2026Reopening$89.0bn$95.4bn2.94x–
Jun 9, 2026Jun 11, 2026Reopening$65.0bn$69.2bn3.25x–

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.