Treasury bill

912797UE5

Original term
52-Week
Maturity
Apr 15, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$51.97bn
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, October 20, 2026

Yield to maturity
4.358%
Modified duration
0.472 yr
DV01
0.0046
Convexity
0.00446
Dirty price
97.942

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 0.472 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 2.9 bp cheap to the curve on that day, 1.33 cents per 100 of face.

That is 1.01 standard deviations from its own typical residual.

Yield to maturity, 129 observations

3.6%3.8%4.0%4.2%4.4%4.6%Apr 16, 2026Oct 20, 2026Apr 16, 2026Yield to maturity3.688%Apr 17, 2026Yield to maturity3.634%Apr 20, 2026Yield to maturity3.644%Apr 21, 2026Yield to maturity3.687%Apr 22, 2026Yield to maturity3.687%Apr 23, 2026Yield to maturity3.697%Apr 24, 2026Yield to maturity3.664%Apr 27, 2026Yield to maturity3.685%Apr 28, 2026Yield to maturity3.706%Apr 29, 2026Yield to maturity3.749%Apr 30, 2026Yield to maturity3.716%May 1, 2026Yield to maturity3.716%May 4, 2026Yield to maturity3.769%May 5, 2026Yield to maturity3.758%May 6, 2026Yield to maturity3.725%May 7, 2026Yield to maturity3.747%May 8, 2026Yield to maturity3.735%May 11, 2026Yield to maturity3.767%May 12, 2026Yield to maturity3.788%May 13, 2026Yield to maturity3.788%May 14, 2026Yield to maturity3.777%May 15, 2026Yield to maturity3.797%May 18, 2026Yield to maturity3.786%May 19, 2026Yield to maturity3.807%May 20, 2026Yield to maturity3.775%May 21, 2026Yield to maturity3.807%May 22, 2026Yield to maturity3.838%May 26, 2026Yield to maturity3.816%May 27, 2026Yield to maturity3.794%May 28, 2026Yield to maturity3.783%May 29, 2026Yield to maturity3.772%Jun 1, 2026Yield to maturity3.793%Jun 2, 2026Yield to maturity3.782%Jun 3, 2026Yield to maturity3.803%Jun 4, 2026Yield to maturity3.803%Jun 5, 2026Yield to maturity3.855%Jun 8, 2026Yield to maturity3.855%Jun 9, 2026Yield to maturity3.844%Jun 10, 2026Yield to maturity3.844%Jun 11, 2026Yield to maturity3.812%Jun 12, 2026Yield to maturity3.822%Jun 15, 2026Yield to maturity3.811%Jun 16, 2026Yield to maturity3.800%Jun 17, 2026Yield to maturity3.906%Jun 18, 2026Yield to maturity3.926%Jun 22, 2026Yield to maturity3.979%Jun 23, 2026Yield to maturity3.947%Jun 24, 2026Yield to maturity3.936%Jun 25, 2026Yield to maturity3.904%Jun 26, 2026Yield to maturity3.892%Jun 29, 2026Yield to maturity3.913%Jun 30, 2026Yield to maturity3.924%Jul 1, 2026Yield to maturity3.934%Jul 2, 2026Yield to maturity3.912%Jul 6, 2026Yield to maturity3.890%Jul 7, 2026Yield to maturity3.922%Jul 8, 2026Yield to maturity3.932%Jul 9, 2026Yield to maturity3.922%Jul 10, 2026Yield to maturity3.942%Jul 13, 2026Yield to maturity3.974%Jul 14, 2026Yield to maturity3.910%Jul 15, 2026Yield to maturity3.846%Jul 16, 2026Yield to maturity3.877%Jul 17, 2026Yield to maturity3.877%Jul 20, 2026Yield to maturity3.930%Jul 21, 2026Yield to maturity3.961%Jul 22, 2026Yield to maturity4.003%Jul 23, 2026Yield to maturity4.024%Jul 24, 2026Yield to maturity4.024%Jul 27, 2026Yield to maturity4.034%Jul 28, 2026Yield to maturity4.002%Jul 29, 2026Yield to maturity3.917%Jul 30, 2026Yield to maturity3.949%Jul 31, 2026Yield to maturity3.958%Aug 3, 2026Yield to maturity3.937%Aug 4, 2026Yield to maturity3.937%Aug 5, 2026Yield to maturity3.937%Aug 6, 2026Yield to maturity3.947%Aug 7, 2026Yield to maturity3.915%Aug 10, 2026Yield to maturity3.936%Aug 11, 2026Yield to maturity3.935%Aug 12, 2026Yield to maturity3.904%Aug 13, 2026Yield to maturity3.872%Aug 14, 2026Yield to maturity3.892%Aug 17, 2026Yield to maturity3.860%Aug 18, 2026Yield to maturity3.892%Aug 19, 2026Yield to maturity3.860%Aug 20, 2026Yield to maturity3.892%Aug 21, 2026Yield to maturity3.902%Aug 24, 2026Yield to maturity3.912%Aug 25, 2026Yield to maturity3.901%Aug 26, 2026Yield to maturity3.912%Aug 27, 2026Yield to maturity3.922%Aug 28, 2026Yield to maturity3.996%Aug 31, 2026Yield to maturity3.985%Sep 1, 2026Yield to maturity4.006%Sep 2, 2026Yield to maturity4.006%Sep 3, 2026Yield to maturity3.974%Sep 4, 2026Yield to maturity3.973%Sep 8, 2026Yield to maturity4.005%Sep 9, 2026Yield to maturity4.005%Sep 10, 2026Yield to maturity4.089%Sep 11, 2026Yield to maturity4.142%Sep 14, 2026Yield to maturity4.152%Sep 15, 2026Yield to maturity4.173%Sep 16, 2026Yield to maturity4.215%Sep 17, 2026Yield to maturity4.215%Sep 18, 2026Yield to maturity4.247%Sep 21, 2026Yield to maturity4.257%Sep 22, 2026Yield to maturity4.267%Sep 23, 2026Yield to maturity4.341%Sep 24, 2026Yield to maturity4.363%Sep 25, 2026Yield to maturity4.373%Sep 28, 2026Yield to maturity4.415%Sep 29, 2026Yield to maturity4.373%Sep 30, 2026Yield to maturity4.330%Oct 1, 2026Yield to maturity4.288%Oct 2, 2026Yield to maturity4.277%Oct 5, 2026Yield to maturity4.277%Oct 6, 2026Yield to maturity4.277%Oct 7, 2026Yield to maturity4.288%Oct 8, 2026Yield to maturity4.330%Oct 9, 2026Yield to maturity4.340%Oct 13, 2026Yield to maturity4.362%Oct 14, 2026Yield to maturity4.382%Oct 15, 2026Yield to maturity4.361%Oct 16, 2026Yield to maturity4.349%Oct 19, 2026Yield to maturity4.369%Oct 20, 2026Yield to maturity4.358%

Price history

129 trading days to Oct 20, 2026

96.2596.5096.7597.0097.2597.5097.7598.00Apr 16, 2026Oct 20, 2026Apr 16, 2026Close96.430Apr 17, 2026Close96.510Apr 20, 2026Close96.510Apr 21, 2026Close96.480Apr 22, 2026Close96.490Apr 23, 2026Close96.489Apr 24, 2026Close96.548Apr 27, 2026Close96.539Apr 28, 2026Close96.529Apr 29, 2026Close96.500Apr 30, 2026Close96.539May 1, 2026Close96.569May 4, 2026Close96.531May 5, 2026Close96.550May 6, 2026Close96.589May 7, 2026Close96.580May 8, 2026Close96.619May 11, 2026Close96.601May 12, 2026Close96.593May 13, 2026Close96.603May 14, 2026Close96.622May 15, 2026Close96.634May 18, 2026Close96.653May 19, 2026Close96.645May 20, 2026Close96.683May 21, 2026Close96.665May 22, 2026Close96.679May 26, 2026Close96.707May 27, 2026Close96.735May 28, 2026Close96.754May 29, 2026Close96.793Jun 1, 2026Close96.786Jun 2, 2026Close96.805Jun 3, 2026Close96.797Jun 4, 2026Close96.808Jun 5, 2026Close96.795Jun 8, 2026Close96.805Jun 9, 2026Close96.824Jun 10, 2026Close96.834Jun 11, 2026Close96.870Jun 12, 2026Close96.892Jun 15, 2026Close96.911Jun 16, 2026Close96.930Jun 17, 2026Close96.856Jun 18, 2026Close96.882Jun 22, 2026Close96.851Jun 23, 2026Close96.886Jun 24, 2026Close96.905Jun 25, 2026Close96.940Jun 26, 2026Close96.979Jun 29, 2026Close96.974Jun 30, 2026Close96.976Jul 1, 2026Close96.979Jul 2, 2026Close97.036Jul 6, 2026Close97.063Jul 7, 2026Close97.049Jul 8, 2026Close97.052Jul 9, 2026Close97.070Jul 10, 2026Close97.087Jul 13, 2026Close97.074Jul 14, 2026Close97.131Jul 15, 2026Close97.187Jul 16, 2026Close97.174Jul 17, 2026Close97.205Jul 20, 2026Close97.179Jul 21, 2026Close97.167Jul 22, 2026Close97.148Jul 23, 2026Close97.144Jul 24, 2026Close97.176Jul 27, 2026Close97.180Jul 28, 2026Close97.212Jul 29, 2026Close97.281Jul 30, 2026Close97.269Jul 31, 2026Close97.294Aug 3, 2026Close97.319Aug 4, 2026Close97.329Aug 5, 2026Close97.340Aug 6, 2026Close97.344Aug 7, 2026Close97.396Aug 10, 2026Close97.393Aug 11, 2026Close97.403Aug 12, 2026Close97.434Aug 13, 2026Close97.465Aug 14, 2026Close97.483Aug 17, 2026Close97.513Aug 18, 2026Close97.504Aug 19, 2026Close97.534Aug 20, 2026Close97.525Aug 21, 2026Close97.549Aug 24, 2026Close97.553Aug 25, 2026Close97.570Aug 26, 2026Close97.575Aug 27, 2026Close97.579Aug 28, 2026Close97.566Aug 31, 2026Close97.583Sep 1, 2026Close97.581Sep 2, 2026Close97.592Sep 3, 2026Close97.621Sep 4, 2026Close97.664Sep 8, 2026Close97.656Sep 9, 2026Close97.667Sep 10, 2026Close97.630Sep 11, 2026Close97.633Sep 14, 2026Close97.639Sep 15, 2026Close97.638Sep 16, 2026Close97.626Sep 17, 2026Close97.637Sep 18, 2026Close97.654Sep 21, 2026Close97.660Sep 22, 2026Close97.665Sep 23, 2026Close97.637Sep 24, 2026Close97.638Sep 25, 2026Close97.667Sep 28, 2026Close97.657Sep 29, 2026Close97.691Sep 30, 2026Close97.724Oct 1, 2026Close97.757Oct 2, 2026Close97.797Oct 5, 2026Close97.809Oct 6, 2026Close97.820Oct 7, 2026Close97.826Oct 8, 2026Close97.817Oct 9, 2026Close97.858Oct 13, 2026Close97.860Oct 14, 2026Close97.862Oct 15, 2026Close97.883Oct 16, 2026Close97.923Oct 19, 2026Close97.925Oct 20, 2026Close97.942
The most recent 20 trading days of prices for 912797UE5.
DateBidOfferClose
Oct 20, 202697.93397.93097.942
Oct 19, 202697.91697.91397.925
Oct 16, 202697.89197.88897.923
Oct 15, 202697.87497.87297.883
Oct 14, 202697.84597.84097.862
Oct 13, 202697.85697.85397.860
Oct 9, 202697.81797.80797.858
Oct 8, 202697.81697.80597.817
Oct 7, 202697.81897.80497.826
Oct 6, 202697.81997.80997.820
Oct 5, 202697.80397.79797.809
Oct 2, 202697.77697.76397.797
Oct 1, 202697.76597.74697.757
Sep 30, 202697.72997.71897.724
Sep 29, 202697.67697.66897.691
Sep 28, 202697.65397.64097.657
Sep 25, 202697.62997.61597.667
Sep 24, 202697.65197.64397.638
Sep 23, 202697.64597.63197.637
Sep 22, 202697.66597.66097.665

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 912797UE5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Apr 14, 2026Apr 16, 2026New issue$50.0bn$52.0bn3.21x–
Oct 13, 2026Oct 15, 2026Reopening$82.0bn$86.7bn2.76x–

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.