Treasury bill

912797VF1

Original term
52-Week
Maturity
Jun 10, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$53.21bn
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
4.325%
Modified duration
0.624 yr
DV01
0.0061
Convexity
0.00647
Dirty price
97.313

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 0.624 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 5.6 bp rich to the curve on that day, 3.39 cents per 100 of face.

That is -1.25 standard deviations from its own typical residual.

Yield to maturity, 90 observations

3.8%3.9%4.0%4.1%4.2%4.3%4.4%4.5%Jun 11, 2026Oct 20, 2026Jun 11, 2026Yield to maturity3.849%Jun 12, 2026Yield to maturity3.859%Jun 15, 2026Yield to maturity3.837%Jun 16, 2026Yield to maturity3.837%Jun 17, 2026Yield to maturity3.976%Jun 18, 2026Yield to maturity3.985%Jun 22, 2026Yield to maturity4.028%Jun 23, 2026Yield to maturity3.996%Jun 24, 2026Yield to maturity3.984%Jun 25, 2026Yield to maturity3.963%Jun 26, 2026Yield to maturity3.930%Jun 29, 2026Yield to maturity3.961%Jun 30, 2026Yield to maturity3.972%Jul 1, 2026Yield to maturity3.982%Jul 2, 2026Yield to maturity3.949%Jul 6, 2026Yield to maturity3.938%Jul 7, 2026Yield to maturity3.980%Jul 8, 2026Yield to maturity4.012%Jul 9, 2026Yield to maturity3.958%Jul 10, 2026Yield to maturity4.000%Jul 13, 2026Yield to maturity4.064%Jul 14, 2026Yield to maturity3.957%Jul 15, 2026Yield to maturity3.914%Jul 16, 2026Yield to maturity3.924%Jul 17, 2026Yield to maturity3.945%Jul 20, 2026Yield to maturity3.976%Jul 21, 2026Yield to maturity4.019%Jul 22, 2026Yield to maturity4.051%Jul 23, 2026Yield to maturity4.082%Jul 24, 2026Yield to maturity4.082%Jul 27, 2026Yield to maturity4.060%Jul 28, 2026Yield to maturity4.027%Jul 29, 2026Yield to maturity3.974%Jul 30, 2026Yield to maturity3.952%Jul 31, 2026Yield to maturity3.994%Aug 3, 2026Yield to maturity3.983%Aug 4, 2026Yield to maturity3.940%Aug 5, 2026Yield to maturity3.929%Aug 6, 2026Yield to maturity3.961%Aug 7, 2026Yield to maturity3.917%Aug 10, 2026Yield to maturity3.938%Aug 11, 2026Yield to maturity3.927%Aug 12, 2026Yield to maturity3.885%Aug 13, 2026Yield to maturity3.874%Aug 14, 2026Yield to maturity3.884%Aug 17, 2026Yield to maturity3.873%Aug 18, 2026Yield to maturity3.872%Aug 19, 2026Yield to maturity3.883%Aug 20, 2026Yield to maturity3.893%Aug 21, 2026Yield to maturity3.914%Aug 24, 2026Yield to maturity3.924%Aug 25, 2026Yield to maturity3.903%Aug 26, 2026Yield to maturity3.924%Aug 27, 2026Yield to maturity3.923%Aug 28, 2026Yield to maturity4.050%Aug 31, 2026Yield to maturity4.050%Sep 1, 2026Yield to maturity4.039%Sep 2, 2026Yield to maturity4.039%Sep 3, 2026Yield to maturity3.996%Sep 4, 2026Yield to maturity4.016%Sep 8, 2026Yield to maturity4.027%Sep 9, 2026Yield to maturity4.048%Sep 10, 2026Yield to maturity4.132%Sep 11, 2026Yield to maturity4.195%Sep 14, 2026Yield to maturity4.195%Sep 15, 2026Yield to maturity4.227%Sep 16, 2026Yield to maturity4.280%Sep 17, 2026Yield to maturity4.269%Sep 18, 2026Yield to maturity4.310%Sep 21, 2026Yield to maturity4.321%Sep 22, 2026Yield to maturity4.310%Sep 23, 2026Yield to maturity4.352%Sep 24, 2026Yield to maturity4.363%Sep 25, 2026Yield to maturity4.372%Sep 28, 2026Yield to maturity4.404%Sep 29, 2026Yield to maturity4.372%Sep 30, 2026Yield to maturity4.329%Oct 1, 2026Yield to maturity4.255%Oct 2, 2026Yield to maturity4.264%Oct 5, 2026Yield to maturity4.254%Oct 6, 2026Yield to maturity4.264%Oct 7, 2026Yield to maturity4.221%Oct 8, 2026Yield to maturity4.253%Oct 9, 2026Yield to maturity4.273%Oct 13, 2026Yield to maturity4.294%Oct 14, 2026Yield to maturity4.315%Oct 15, 2026Yield to maturity4.326%Oct 16, 2026Yield to maturity4.304%Oct 19, 2026Yield to maturity4.304%Oct 20, 2026Yield to maturity4.325%

Price history

90 trading days to Oct 20, 2026

96.296.496.696.897.097.297.4Jun 11, 2026Oct 20, 2026Jun 11, 2026Close96.279Jun 12, 2026Close96.300Jun 15, 2026Close96.330Jun 16, 2026Close96.340Jun 17, 2026Close96.222Jun 18, 2026Close96.254Jun 22, 2026Close96.226Jun 23, 2026Close96.266Jun 24, 2026Close96.286Jun 25, 2026Close96.316Jun 26, 2026Close96.377Jun 29, 2026Close96.358Jun 30, 2026Close96.359Jul 1, 2026Close96.360Jul 2, 2026Close96.431Jul 6, 2026Close96.451Jul 7, 2026Close96.424Jul 8, 2026Close96.407Jul 9, 2026Close96.464Jul 10, 2026Close96.459Jul 13, 2026Close96.414Jul 14, 2026Close96.517Jul 15, 2026Close96.564Jul 16, 2026Close96.565Jul 17, 2026Close96.578Jul 20, 2026Close96.562Jul 21, 2026Close96.537Jul 22, 2026Close96.521Jul 23, 2026Close96.505Jul 24, 2026Close96.537Jul 27, 2026Close96.566Jul 28, 2026Close96.603Jul 29, 2026Close96.657Jul 30, 2026Close96.686Jul 31, 2026Close96.683Aug 3, 2026Close96.702Aug 4, 2026Close96.747Aug 5, 2026Close96.766Aug 6, 2026Close96.751Aug 7, 2026Close96.816Aug 10, 2026Close96.810Aug 11, 2026Close96.829Aug 12, 2026Close96.873Aug 13, 2026Close96.892Aug 14, 2026Close96.915Aug 17, 2026Close96.933Aug 18, 2026Close96.943Aug 19, 2026Close96.946Aug 20, 2026Close96.948Aug 21, 2026Close96.963Aug 24, 2026Close96.966Aug 25, 2026Close96.992Aug 26, 2026Close96.987Aug 27, 2026Close96.997Aug 28, 2026Close96.934Aug 31, 2026Close96.945Sep 1, 2026Close96.964Sep 2, 2026Close96.974Sep 3, 2026Close97.016Sep 4, 2026Close97.044Sep 8, 2026Close97.047Sep 9, 2026Close97.043Sep 10, 2026Close96.993Sep 11, 2026Close96.981Sep 14, 2026Close96.992Sep 15, 2026Close96.981Sep 16, 2026Close96.956Sep 17, 2026Close96.975Sep 18, 2026Close96.980Sep 21, 2026Close96.984Sep 22, 2026Close97.003Sep 23, 2026Close96.986Sep 24, 2026Close96.990Sep 25, 2026Close97.018Sep 28, 2026Close97.008Sep 29, 2026Close97.041Sep 30, 2026Close97.081Oct 1, 2026Close97.141Oct 2, 2026Close97.169Oct 5, 2026Close97.187Oct 6, 2026Close97.192Oct 7, 2026Close97.230Oct 8, 2026Close97.221Oct 9, 2026Close97.253Oct 13, 2026Close97.251Oct 14, 2026Close97.250Oct 15, 2026Close97.255Oct 16, 2026Close97.302Oct 19, 2026Close97.314Oct 20, 2026Close97.313
The most recent 20 trading days of prices for 912797VF1.
DateBidOfferClose
Oct 20, 202697.31797.30897.313
Oct 19, 202697.30997.30297.314
Oct 16, 202697.28897.26897.302
Oct 15, 202697.26697.24397.255
Oct 14, 202697.21897.19897.250
Oct 13, 202697.24797.22797.251
Oct 9, 202697.21197.19497.253
Oct 8, 202697.20697.18997.221
Oct 7, 202697.20597.18597.230
Oct 6, 202697.20197.18797.192
Oct 5, 202697.17697.16297.187
Oct 2, 202697.14897.12797.169
Oct 1, 202697.12397.10297.141
Sep 30, 202697.09197.07697.081
Sep 29, 202697.02697.00897.041
Sep 28, 202697.00096.99097.008
Sep 25, 202696.98696.96997.018
Sep 24, 202696.99396.97896.990
Sep 23, 202696.98196.95996.986
Sep 22, 202697.00296.98497.003

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.

Auction

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 912797VF1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 9, 2026Jun 11, 2026New issue$50.0bn$53.2bn3.34x–

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.