Treasury bill

912797UG0

Original term
26-Week
Maturity
Sep 17, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$282.16bn
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
3.632%
Modified duration
0.016 yr
DV01
0.0002
Convexity
0.001
Dirty price
99.940

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 0.016 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 0.13 cents per 100 of face rich to the curve on that day.

Shown as a price rather than a yield. This bill is 7 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, 122 observations

3.60%3.65%3.70%3.75%3.80%Mar 19, 2026Sep 10, 2026Mar 19, 2026Yield to maturity3.728%Mar 24, 2026Yield to maturity3.757%Mar 27, 2026Yield to maturity3.724%Apr 1, 2026Yield to maturity3.702%Apr 6, 2026Yield to maturity3.721%Apr 9, 2026Yield to maturity3.688%Apr 14, 2026Yield to maturity3.707%Apr 17, 2026Yield to maturity3.685%Apr 22, 2026Yield to maturity3.694%Apr 27, 2026Yield to maturity3.692%Apr 30, 2026Yield to maturity3.691%May 5, 2026Yield to maturity3.700%May 8, 2026Yield to maturity3.677%May 13, 2026Yield to maturity3.697%May 18, 2026Yield to maturity3.684%May 21, 2026Yield to maturity3.694%May 27, 2026Yield to maturity3.712%Jun 1, 2026Yield to maturity3.721%Jun 4, 2026Yield to maturity3.719%Jun 9, 2026Yield to maturity3.728%Jun 12, 2026Yield to maturity3.716%Jun 17, 2026Yield to maturity3.756%Jun 23, 2026Yield to maturity3.774%Jun 26, 2026Yield to maturity3.741%Jul 1, 2026Yield to maturity3.740%Jul 7, 2026Yield to maturity3.707%Jul 10, 2026Yield to maturity3.715%Jul 15, 2026Yield to maturity3.724%Jul 20, 2026Yield to maturity3.712%Jul 23, 2026Yield to maturity3.793%Jul 28, 2026Yield to maturity3.761%Jul 31, 2026Yield to maturity3.718%Aug 5, 2026Yield to maturity3.696%Aug 10, 2026Yield to maturity3.694%Aug 13, 2026Yield to maturity3.673%Aug 18, 2026Yield to maturity3.671%Aug 21, 2026Yield to maturity3.679%Aug 26, 2026Yield to maturity3.688%Aug 31, 2026Yield to maturity3.686%Sep 3, 2026Yield to maturity3.645%Sep 9, 2026Yield to maturity3.622%Sep 10, 2026Yield to maturity3.632%

Price history

122 trading days to Sep 10, 2026

98.0098.5099.0099.50100.00Mar 19, 2026Sep 10, 2026Mar 19, 2026Close98.185Mar 24, 2026Close98.220Mar 27, 2026Close98.285Apr 1, 2026Close98.325Apr 6, 2026Close98.365Apr 9, 2026Close98.409Apr 14, 2026Close98.450Apr 17, 2026Close98.508Apr 22, 2026Close98.534Apr 27, 2026Close98.584Apr 30, 2026Close98.614May 5, 2026Close98.660May 8, 2026Close98.717May 13, 2026Close98.740May 18, 2026Close98.793May 21, 2026Close98.820May 27, 2026Close98.874Jun 1, 2026Close98.921Jun 4, 2026Close98.951Jun 9, 2026Close98.999Jun 12, 2026Close99.052Jun 17, 2026Close99.072Jun 23, 2026Close99.129Jun 26, 2026Close99.187Jul 1, 2026Close99.217Jul 7, 2026Close99.284Jul 10, 2026Close99.333Jul 15, 2026Close99.361Jul 20, 2026Close99.414Jul 23, 2026Close99.432Jul 28, 2026Close99.487Jul 31, 2026Close99.544Aug 5, 2026Close99.576Aug 10, 2026Close99.627Aug 13, 2026Close99.659Aug 18, 2026Close99.709Aug 21, 2026Close99.759Aug 26, 2026Close99.788Aug 31, 2026Close99.839Sep 3, 2026Close99.870Sep 9, 2026Close99.931Sep 10, 2026Close99.940
The most recent 20 trading days of prices for 912797UG0.
DateBidOfferClose
Sep 10, 202699.93199.93099.940
Sep 9, 202699.92199.92099.931
Sep 8, 202699.91199.91099.920
Sep 4, 202699.87099.87099.910
Sep 3, 202699.86099.86099.870
Sep 2, 202699.84999.84999.859
Sep 1, 202699.83999.83999.849
Aug 31, 202699.82999.82899.839
Aug 28, 202699.79899.79799.828
Aug 27, 202699.78999.78899.797
Aug 26, 202699.77899.77899.788
Aug 25, 202699.76999.76899.778
Aug 24, 202699.75999.75999.769
Aug 21, 202699.72999.72899.759
Aug 20, 202699.72099.71999.728
Aug 19, 202699.71099.70999.719
Aug 18, 202699.69999.69899.709
Aug 17, 202699.68999.68899.698
Aug 14, 202699.65999.65899.687
Aug 13, 202699.65199.65099.659

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 912797UG0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Mar 16, 2026Mar 19, 2026New issue$77.0bn$83.2bn2.64x–
Jun 15, 2026Jun 18, 2026Reopening$89.0bn$96.5bn2.47x–
Aug 4, 2026Aug 6, 2026Reopening$95.0bn$102.5bn2.93x–

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.