Treasury bill

912797VH7

Original term
26-Week
Maturity
Dec 17, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$183.64bn
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, November 9, 2026

Yield to maturity
3.991%
Modified duration
0.101 yr
DV01
0.0010
Convexity
0.000204
Dirty price
99.597

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 0.101 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 0.3 bp rich to the curve on that day, 0.03 cents per 100 of face.

That is -0.04 standard deviations from its own typical residual.

Yield to maturity, 99 observations

3.7%3.8%3.9%4.0%4.1%4.2%Jun 18, 2026Nov 9, 2026Jun 18, 2026Yield to maturity3.905%Jun 22, 2026Yield to maturity3.947%Jun 23, 2026Yield to maturity3.926%Jun 24, 2026Yield to maturity3.915%Jun 25, 2026Yield to maturity3.904%Jun 26, 2026Yield to maturity3.892%Jun 29, 2026Yield to maturity3.923%Jun 30, 2026Yield to maturity3.923%Jul 1, 2026Yield to maturity3.922%Jul 2, 2026Yield to maturity3.879%Jul 6, 2026Yield to maturity3.868%Jul 7, 2026Yield to maturity3.878%Jul 8, 2026Yield to maturity3.888%Jul 9, 2026Yield to maturity3.856%Jul 10, 2026Yield to maturity3.886%Jul 13, 2026Yield to maturity3.917%Jul 14, 2026Yield to maturity3.864%Jul 15, 2026Yield to maturity3.833%Jul 16, 2026Yield to maturity3.843%Jul 17, 2026Yield to maturity3.852%Jul 20, 2026Yield to maturity3.883%Jul 21, 2026Yield to maturity3.893%Jul 22, 2026Yield to maturity3.934%Jul 23, 2026Yield to maturity3.976%Jul 24, 2026Yield to maturity3.964%Jul 27, 2026Yield to maturity3.974%Jul 28, 2026Yield to maturity3.953%Jul 29, 2026Yield to maturity3.869%Jul 30, 2026Yield to maturity3.858%Jul 31, 2026Yield to maturity3.867%Aug 3, 2026Yield to maturity3.867%Aug 4, 2026Yield to maturity3.856%Aug 5, 2026Yield to maturity3.855%Aug 6, 2026Yield to maturity3.866%Aug 7, 2026Yield to maturity3.823%Aug 10, 2026Yield to maturity3.833%Aug 11, 2026Yield to maturity3.832%Aug 12, 2026Yield to maturity3.801%Aug 13, 2026Yield to maturity3.811%Aug 14, 2026Yield to maturity3.799%Aug 17, 2026Yield to maturity3.809%Aug 18, 2026Yield to maturity3.798%Aug 19, 2026Yield to maturity3.798%Aug 20, 2026Yield to maturity3.797%Aug 21, 2026Yield to maturity3.817%Aug 24, 2026Yield to maturity3.817%Aug 25, 2026Yield to maturity3.806%Aug 26, 2026Yield to maturity3.816%Aug 27, 2026Yield to maturity3.805%Aug 28, 2026Yield to maturity3.856%Aug 31, 2026Yield to maturity3.866%Sep 1, 2026Yield to maturity3.876%Sep 2, 2026Yield to maturity3.865%Sep 3, 2026Yield to maturity3.844%Sep 4, 2026Yield to maturity3.863%Sep 8, 2026Yield to maturity3.883%Sep 9, 2026Yield to maturity3.893%Sep 10, 2026Yield to maturity3.944%Sep 11, 2026Yield to maturity4.026%Sep 14, 2026Yield to maturity4.056%Sep 15, 2026Yield to maturity4.056%Sep 16, 2026Yield to maturity4.076%Sep 17, 2026Yield to maturity4.065%Sep 18, 2026Yield to maturity4.085%Sep 21, 2026Yield to maturity4.084%Sep 22, 2026Yield to maturity4.074%Sep 23, 2026Yield to maturity4.104%Sep 24, 2026Yield to maturity4.145%Sep 25, 2026Yield to maturity4.154%Sep 28, 2026Yield to maturity4.133%Sep 29, 2026Yield to maturity4.132%Sep 30, 2026Yield to maturity4.070%Oct 1, 2026Yield to maturity4.059%Oct 2, 2026Yield to maturity4.058%Oct 5, 2026Yield to maturity4.057%Oct 6, 2026Yield to maturity4.057%Oct 7, 2026Yield to maturity4.067%Oct 8, 2026Yield to maturity4.066%Oct 9, 2026Yield to maturity4.064%Oct 13, 2026Yield to maturity4.054%Oct 14, 2026Yield to maturity4.074%Oct 15, 2026Yield to maturity4.084%Oct 16, 2026Yield to maturity4.082%Oct 19, 2026Yield to maturity4.061%Oct 20, 2026Yield to maturity4.061%Oct 21, 2026Yield to maturity4.040%Oct 22, 2026Yield to maturity4.050%Oct 23, 2026Yield to maturity4.048%Oct 26, 2026Yield to maturity4.048%Oct 27, 2026Yield to maturity4.058%Oct 28, 2026Yield to maturity4.047%Oct 29, 2026Yield to maturity4.036%Oct 30, 2026Yield to maturity4.014%Nov 2, 2026Yield to maturity4.024%Nov 3, 2026Yield to maturity4.014%Nov 4, 2026Yield to maturity3.993%Nov 5, 2026Yield to maturity3.982%Nov 6, 2026Yield to maturity3.971%Nov 9, 2026Yield to maturity3.991%

Price history

99 trading days to Nov 9, 2026

98.0098.2598.5098.7599.0099.2599.5099.75Jun 18, 2026Nov 9, 2026Jun 18, 2026Close98.131Jun 22, 2026Close98.122Jun 23, 2026Close98.142Jun 24, 2026Close98.158Jun 25, 2026Close98.173Jun 26, 2026Close98.209Jun 29, 2026Close98.206Jun 30, 2026Close98.216Jul 1, 2026Close98.227Jul 2, 2026Close98.287Jul 6, 2026Close98.302Jul 7, 2026Close98.308Jul 8, 2026Close98.314Jul 9, 2026Close98.338Jul 10, 2026Close98.356Jul 13, 2026Close98.353Jul 14, 2026Close98.385Jul 15, 2026Close98.409Jul 16, 2026Close98.415Jul 17, 2026Close98.442Jul 20, 2026Close98.440Jul 21, 2026Close98.446Jul 22, 2026Close98.440Jul 23, 2026Close98.435Jul 24, 2026Close98.471Jul 27, 2026Close98.477Jul 28, 2026Close98.496Jul 29, 2026Close98.538Jul 30, 2026Close98.552Jul 31, 2026Close98.580Aug 3, 2026Close98.590Aug 4, 2026Close98.604Aug 5, 2026Close98.615Aug 6, 2026Close98.621Aug 7, 2026Close98.667Aug 10, 2026Close98.674Aug 11, 2026Close98.684Aug 12, 2026Close98.705Aug 13, 2026Close98.712Aug 14, 2026Close98.746Aug 17, 2026Close98.753Aug 18, 2026Close98.767Aug 19, 2026Close98.777Aug 20, 2026Close98.787Aug 21, 2026Close98.812Aug 24, 2026Close98.822Aug 25, 2026Close98.835Aug 26, 2026Close98.843Aug 27, 2026Close98.856Aug 28, 2026Close98.872Aug 31, 2026Close98.879Sep 1, 2026Close98.887Sep 2, 2026Close98.900Sep 3, 2026Close98.917Sep 4, 2026Close98.953Sep 8, 2026Close98.958Sep 9, 2026Close98.966Sep 10, 2026Close98.963Sep 11, 2026Close98.974Sep 14, 2026Close98.977Sep 15, 2026Close98.988Sep 16, 2026Close98.994Sep 17, 2026Close99.007Sep 18, 2026Close99.036Sep 21, 2026Close99.047Sep 22, 2026Close99.060Sep 23, 2026Close99.064Sep 24, 2026Close99.066Sep 25, 2026Close99.098Sep 28, 2026Close99.113Sep 29, 2026Close99.125Sep 30, 2026Close99.149Oct 1, 2026Close99.162Oct 2, 2026Close99.195Oct 5, 2026Close99.206Oct 6, 2026Close99.217Oct 7, 2026Close99.226Oct 8, 2026Close99.237Oct 9, 2026Close99.281Oct 13, 2026Close99.294Oct 14, 2026Close99.302Oct 15, 2026Close99.311Oct 16, 2026Close99.344Oct 19, 2026Close99.359Oct 20, 2026Close99.370Oct 21, 2026Close99.384Oct 22, 2026Close99.393Oct 23, 2026Close99.427Oct 26, 2026Close99.438Oct 27, 2026Close99.447Oct 28, 2026Close99.460Oct 29, 2026Close99.472Oct 30, 2026Close99.507Nov 2, 2026Close99.517Nov 3, 2026Close99.529Nov 4, 2026Close99.543Nov 5, 2026Close99.555Nov 6, 2026Close99.588Nov 9, 2026Close99.597
The most recent 20 trading days of prices for 912797VH7.
DateBidOfferClose
Nov 9, 202699.58799.58899.597
Nov 6, 202699.55699.55699.588
Nov 5, 202699.54699.54699.555
Nov 4, 202699.53199.53199.543
Nov 3, 202699.51899.51999.529
Nov 2, 202699.50599.50699.517
Oct 30, 202699.47399.47499.507
Oct 29, 202699.46199.46299.472
Oct 28, 202699.44799.44899.460
Oct 27, 202699.43899.43899.447
Oct 26, 202699.42599.42699.438
Oct 23, 202699.39299.39399.427
Oct 22, 202699.38299.38499.393
Oct 21, 202699.37199.37299.384
Oct 20, 202699.35999.36099.370
Oct 19, 202699.34699.34799.359
Oct 16, 202699.31399.31499.344
Oct 15, 202699.30299.30399.311
Oct 14, 202699.28599.28799.302
Oct 13, 202699.28199.28399.294

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

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 912797VH7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 15, 2026Jun 18, 2026New issue$77.0bn$83.5bn2.76x–
Sep 14, 2026Sep 17, 2026Reopening$92.0bn$100.2bn2.64x–
Nov 3, 2026Nov 5, 2026Reopening$100.0bn$106.2bn2.88x–

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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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.