Treasury bill

912797UY1

Original term
26-Week
Maturity
Nov 12, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$179.39bn
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
3.878%
Modified duration
0.169 yr
DV01
0.0017
Convexity
0.057
Dirty price
99.346

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 0.169 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 0.4 bp cheap to the curve on that day, 0.06 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, 82 observations

3.70%3.75%3.80%3.85%3.90%3.95%May 14, 2026Sep 10, 2026May 14, 2026Yield to maturity3.728%May 18, 2026Yield to maturity3.726%May 20, 2026Yield to maturity3.715%May 22, 2026Yield to maturity3.745%May 27, 2026Yield to maturity3.754%May 29, 2026Yield to maturity3.742%Jun 2, 2026Yield to maturity3.742%Jun 4, 2026Yield to maturity3.751%Jun 8, 2026Yield to maturity3.771%Jun 10, 2026Yield to maturity3.759%Jun 12, 2026Yield to maturity3.758%Jun 16, 2026Yield to maturity3.757%Jun 18, 2026Yield to maturity3.839%Jun 23, 2026Yield to maturity3.859%Jun 25, 2026Yield to maturity3.879%Jun 29, 2026Yield to maturity3.877%Jul 1, 2026Yield to maturity3.866%Jul 6, 2026Yield to maturity3.833%Jul 8, 2026Yield to maturity3.863%Jul 10, 2026Yield to maturity3.830%Jul 14, 2026Yield to maturity3.819%Jul 16, 2026Yield to maturity3.818%Jul 20, 2026Yield to maturity3.827%Jul 22, 2026Yield to maturity3.878%Jul 24, 2026Yield to maturity3.918%Jul 28, 2026Yield to maturity3.886%Jul 30, 2026Yield to maturity3.782%Aug 3, 2026Yield to maturity3.821%Aug 5, 2026Yield to maturity3.800%Aug 7, 2026Yield to maturity3.809%Aug 11, 2026Yield to maturity3.808%Aug 13, 2026Yield to maturity3.797%Aug 17, 2026Yield to maturity3.795%Aug 19, 2026Yield to maturity3.784%Aug 21, 2026Yield to maturity3.782%Aug 25, 2026Yield to maturity3.782%Aug 27, 2026Yield to maturity3.760%Aug 31, 2026Yield to maturity3.821%Sep 2, 2026Yield to maturity3.820%Sep 4, 2026Yield to maturity3.807%Sep 9, 2026Yield to maturity3.837%Sep 10, 2026Yield to maturity3.878%

Price history

82 trading days to Sep 10, 2026

98.0098.2598.5098.7599.0099.2599.50May 14, 2026Sep 10, 2026May 14, 2026Close98.185May 18, 2026Close98.225May 20, 2026Close98.250May 22, 2026Close98.286May 27, 2026Close98.301May 29, 2026Close98.346Jun 2, 2026Close98.367Jun 4, 2026Close98.382Jun 8, 2026Close98.414Jun 10, 2026Close98.439Jun 12, 2026Close98.479Jun 16, 2026Close98.499Jun 18, 2026Close98.518Jun 23, 2026Close98.531Jun 25, 2026Close98.544Jun 29, 2026Close98.586Jul 1, 2026Close98.611Jul 6, 2026Close98.674Jul 8, 2026Close98.684Jul 10, 2026Close98.736Jul 14, 2026Close98.760Jul 16, 2026Close98.781Jul 20, 2026Close98.819Jul 22, 2026Close98.824Jul 24, 2026Close98.854Jul 28, 2026Close98.884Jul 30, 2026Close98.934Aug 3, 2026Close98.964Aug 5, 2026Close98.990Aug 7, 2026Close99.029Aug 11, 2026Close99.049Aug 13, 2026Close99.073Aug 17, 2026Close99.114Aug 19, 2026Close99.137Aug 21, 2026Close99.178Aug 25, 2026Close99.198Aug 27, 2026Close99.223Aug 31, 2026Close99.252Sep 2, 2026Close99.273Sep 4, 2026Close99.327Sep 9, 2026Close99.342Sep 10, 2026Close99.346
The most recent 20 trading days of prices for 912797UY1.
DateBidOfferClose
Sep 10, 202699.33899.33599.346
Sep 9, 202699.33699.33599.342
Sep 8, 202699.32799.32599.335
Sep 4, 202699.28599.28399.327
Sep 3, 202699.27799.27599.285
Sep 2, 202699.26399.26299.273
Sep 1, 202699.25299.25099.262
Aug 31, 202699.24699.24499.252
Aug 28, 202699.21499.21099.244
Aug 27, 202699.21499.21399.223
Aug 26, 202699.20299.20199.211
Aug 25, 202699.18999.18899.198
Aug 24, 202699.17999.17899.188
Aug 21, 202699.14899.14799.178
Aug 20, 202699.14099.13999.149
Aug 19, 202699.12899.12699.137
Aug 18, 202699.11799.11699.126
Aug 17, 202699.10599.10399.114
Aug 14, 202699.07499.07399.103
Aug 13, 202699.06699.06599.073

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 912797UY1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 11, 2026May 14, 2026New issue$77.0bn$81.8bn2.91x–
Aug 10, 2026Aug 13, 2026Reopening$92.0bn$97.6bn2.88x–

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.