Treasury bill

912797UZ8

Original term
26-Week
Maturity
Nov 19, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$180.37bn
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
3.881%
Modified duration
0.188 yr
DV01
0.0019
Convexity
0.070
Dirty price
99.272

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 0.188 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 1.0 bp rich to the curve on that day, 0.19 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, 77 observations

3.70%3.75%3.80%3.85%3.90%3.95%May 21, 2026Sep 10, 2026May 21, 2026Yield to maturity3.749%May 26, 2026Yield to maturity3.768%May 28, 2026Yield to maturity3.757%Jun 1, 2026Yield to maturity3.766%Jun 3, 2026Yield to maturity3.765%Jun 5, 2026Yield to maturity3.784%Jun 9, 2026Yield to maturity3.783%Jun 11, 2026Yield to maturity3.772%Jun 15, 2026Yield to maturity3.760%Jun 17, 2026Yield to maturity3.833%Jun 22, 2026Yield to maturity3.872%Jun 24, 2026Yield to maturity3.882%Jun 26, 2026Yield to maturity3.870%Jun 30, 2026Yield to maturity3.880%Jul 2, 2026Yield to maturity3.825%Jul 7, 2026Yield to maturity3.845%Jul 9, 2026Yield to maturity3.813%Jul 13, 2026Yield to maturity3.853%Jul 15, 2026Yield to maturity3.811%Jul 17, 2026Yield to maturity3.830%Jul 21, 2026Yield to maturity3.861%Jul 23, 2026Yield to maturity3.933%Jul 27, 2026Yield to maturity3.941%Jul 29, 2026Yield to maturity3.826%Jul 31, 2026Yield to maturity3.825%Aug 4, 2026Yield to maturity3.813%Aug 6, 2026Yield to maturity3.823%Aug 10, 2026Yield to maturity3.811%Aug 12, 2026Yield to maturity3.790%Aug 14, 2026Yield to maturity3.798%Aug 18, 2026Yield to maturity3.787%Aug 20, 2026Yield to maturity3.797%Aug 24, 2026Yield to maturity3.795%Aug 26, 2026Yield to maturity3.774%Aug 28, 2026Yield to maturity3.813%Sep 1, 2026Yield to maturity3.833%Sep 3, 2026Yield to maturity3.812%Sep 8, 2026Yield to maturity3.830%Sep 10, 2026Yield to maturity3.881%

Price history

77 trading days to Sep 10, 2026

98.098.298.498.698.899.099.299.4May 21, 2026Sep 10, 2026May 21, 2026Close98.175May 26, 2026Close98.216May 28, 2026Close98.241Jun 1, 2026Close98.276Jun 3, 2026Close98.297Jun 5, 2026Close98.328Jun 9, 2026Close98.349Jun 11, 2026Close98.373Jun 15, 2026Close98.418Jun 17, 2026Close98.409Jun 22, 2026Close98.444Jun 24, 2026Close98.461Jun 26, 2026Close98.506Jun 30, 2026Close98.523Jul 2, 2026Close98.595Jul 7, 2026Close98.608Jul 9, 2026Close98.640Jul 13, 2026Close98.667Jul 15, 2026Close98.701Jul 17, 2026Close98.736Jul 21, 2026Close98.747Jul 23, 2026Close98.745Jul 27, 2026Close98.784Jul 29, 2026Close98.840Jul 31, 2026Close98.881Aug 4, 2026Close98.905Aug 6, 2026Close98.922Aug 10, 2026Close98.967Aug 12, 2026Close98.993Aug 14, 2026Close99.031Aug 18, 2026Close99.054Aug 20, 2026Close99.073Aug 24, 2026Close99.114Aug 26, 2026Close99.139Aug 28, 2026Close99.171Sep 1, 2026Close99.188Sep 3, 2026Close99.213Sep 8, 2026Close99.260Sep 10, 2026Close99.272
The most recent 20 trading days of prices for 912797UZ8.
DateBidOfferClose
Sep 10, 202699.26399.26199.272
Sep 9, 202699.26199.26099.269
Sep 8, 202699.25399.25099.260
Sep 4, 202699.21399.21099.250
Sep 3, 202699.20299.20099.213
Sep 2, 202699.18999.18899.198
Sep 1, 202699.17899.17799.188
Aug 31, 202699.17199.16999.179
Aug 28, 202699.14099.13899.171
Aug 27, 202699.14299.14199.149
Aug 26, 202699.12899.12699.139
Aug 25, 202699.11599.11499.124
Aug 24, 202699.10299.10199.114
Aug 21, 202699.07199.07099.101
Aug 20, 202699.06399.06299.073
Aug 19, 202699.05399.05299.062
Aug 18, 202699.04399.04299.054
Aug 17, 202699.03399.03199.039
Aug 14, 202699.00399.00099.031
Aug 13, 202698.99898.99699.006

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 912797UZ8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 18, 2026May 21, 2026New issue$77.0bn$81.6bn3.07x–
Aug 17, 2026Aug 20, 2026Reopening$92.0bn$98.7bn2.86x–

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.