Treasury bill

912797TV9

Original term
52-Week
Maturity
Feb 18, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$137.06bn
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 10, 2026

Yield to maturity
4.034%
Modified duration
0.431 yr
DV01
0.0042
Convexity
0.371
Dirty price
98.262

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 0.431 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 2.0 bp rich to the curve on that day, 0.86 cents per 100 of face.

Not scored against its own history. The z-score is written by a separate pass, and a security needs twenty observations before one is meaningful, so a new issue carries none for roughly its first month. An absent score is not evidence that a security is fairly priced.

Yield to maturity, 142 observations

3.4%3.5%3.6%3.7%3.8%3.9%4.0%4.1%Feb 19, 2026Sep 10, 2026Feb 19, 2026Yield to maturity3.496%Feb 25, 2026Yield to maturity3.526%Mar 3, 2026Yield to maturity3.546%Mar 9, 2026Yield to maturity3.555%Mar 13, 2026Yield to maturity3.639%Mar 19, 2026Yield to maturity3.734%Mar 25, 2026Yield to maturity3.775%Mar 31, 2026Yield to maturity3.667%Apr 6, 2026Yield to maturity3.697%Apr 10, 2026Yield to maturity3.674%Apr 16, 2026Yield to maturity3.652%Apr 22, 2026Yield to maturity3.661%Apr 28, 2026Yield to maturity3.681%May 4, 2026Yield to maturity3.722%May 8, 2026Yield to maturity3.700%May 14, 2026Yield to maturity3.710%May 20, 2026Yield to maturity3.698%May 27, 2026Yield to maturity3.717%Jun 2, 2026Yield to maturity3.727%Jun 8, 2026Yield to maturity3.789%Jun 12, 2026Yield to maturity3.746%Jun 18, 2026Yield to maturity3.871%Jun 25, 2026Yield to maturity3.870%Jul 1, 2026Yield to maturity3.869%Jul 8, 2026Yield to maturity3.900%Jul 14, 2026Yield to maturity3.857%Jul 20, 2026Yield to maturity3.856%Jul 24, 2026Yield to maturity3.972%Jul 30, 2026Yield to maturity3.898%Aug 5, 2026Yield to maturity3.855%Aug 11, 2026Yield to maturity3.865%Aug 17, 2026Yield to maturity3.876%Aug 21, 2026Yield to maturity3.916%Aug 27, 2026Yield to maturity3.904%Sep 2, 2026Yield to maturity3.985%Sep 9, 2026Yield to maturity3.982%Sep 10, 2026Yield to maturity4.034%

Price history

142 trading days to Sep 10, 2026

96.5097.0097.5098.0098.50Feb 19, 2026Sep 10, 2026Feb 19, 2026Close96.612Feb 25, 2026Close96.638Mar 3, 2026Close96.675Mar 9, 2026Close96.722Mar 13, 2026Close96.704Mar 19, 2026Close96.659Mar 25, 2026Close96.683Mar 31, 2026Close96.833Apr 6, 2026Close96.865Apr 10, 2026Close96.942Apr 16, 2026Close96.998Apr 22, 2026Close97.049Apr 28, 2026Close97.091May 4, 2026Close97.118May 8, 2026Close97.194May 14, 2026Close97.225May 20, 2026Close97.293May 27, 2026Close97.347Jun 2, 2026Close97.400Jun 8, 2026Close97.418Jun 12, 2026Close97.506Jun 18, 2026Close97.496Jun 25, 2026Close97.538Jul 1, 2026Close97.600Jul 8, 2026Close97.654Jul 14, 2026Close97.741Jul 20, 2026Close97.803Jul 24, 2026Close97.803Jul 30, 2026Close97.885Aug 5, 2026Close97.969Aug 11, 2026Close98.026Aug 17, 2026Close98.083Aug 21, 2026Close98.126Aug 27, 2026Close98.173Sep 2, 2026Close98.199Sep 9, 2026Close98.274Sep 10, 2026Close98.262
The most recent 20 trading days of prices for 912797TV9.
DateBidOfferClose
Sep 10, 202698.26098.25198.262
Sep 9, 202698.26798.26398.274
Sep 8, 202698.26498.26198.267
Sep 4, 202698.22198.21998.261
Sep 3, 202698.21798.21398.228
Sep 2, 202698.19098.18898.199
Sep 1, 202698.18798.18298.188
Aug 31, 202698.17698.17198.182
Aug 28, 202698.14698.13998.176
Aug 27, 202698.16598.16298.173
Aug 26, 202698.15498.15298.162
Aug 25, 202698.14498.14198.152
Aug 24, 202698.12998.12698.137
Aug 21, 202698.09298.08998.126
Aug 20, 202698.09298.08998.100
Aug 19, 202698.07698.07398.089
Aug 18, 202698.08198.07898.089
Aug 17, 202698.08198.07398.083
Aug 14, 202698.04498.03698.078
Aug 13, 202698.05098.03798.052

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.

2 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 912797TV9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Feb 17, 2026Feb 19, 2026New issue$50.0bn$52.3bn2.96x–
Aug 17, 2026Aug 20, 2026Reopening$79.0bn$84.8bn2.97x–

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.