Treasury bill

912797VK0

Original term
17-Week
Maturity
Oct 6, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$177.36bn
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
3.761%
Modified duration
0.068 yr
DV01
0.0007
Convexity
0.009
Dirty price
99.743

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 0.068 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 0.09 cents per 100 of face rich to the curve on that day.

Shown as a price rather than a yield. This bill is 26 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, 65 observations

3.70%3.73%3.75%3.77%3.80%3.83%3.85%Jun 9, 2026Sep 10, 2026Jun 9, 2026Yield to maturity3.756%Jun 11, 2026Yield to maturity3.745%Jun 15, 2026Yield to maturity3.743%Jun 17, 2026Yield to maturity3.794%Jun 22, 2026Yield to maturity3.813%Jun 24, 2026Yield to maturity3.812%Jun 26, 2026Yield to maturity3.769%Jun 30, 2026Yield to maturity3.789%Jul 2, 2026Yield to maturity3.746%Jul 7, 2026Yield to maturity3.766%Jul 9, 2026Yield to maturity3.744%Jul 13, 2026Yield to maturity3.784%Jul 15, 2026Yield to maturity3.773%Jul 17, 2026Yield to maturity3.761%Jul 21, 2026Yield to maturity3.771%Jul 23, 2026Yield to maturity3.842%Jul 27, 2026Yield to maturity3.820%Jul 29, 2026Yield to maturity3.726%Jul 31, 2026Yield to maturity3.745%Aug 4, 2026Yield to maturity3.745%Aug 6, 2026Yield to maturity3.723%Aug 10, 2026Yield to maturity3.773%Aug 12, 2026Yield to maturity3.711%Aug 14, 2026Yield to maturity3.730%Aug 18, 2026Yield to maturity3.729%Aug 20, 2026Yield to maturity3.708%Aug 24, 2026Yield to maturity3.706%Aug 26, 2026Yield to maturity3.706%Aug 28, 2026Yield to maturity3.735%Sep 1, 2026Yield to maturity3.775%Sep 3, 2026Yield to maturity3.733%Sep 8, 2026Yield to maturity3.721%Sep 10, 2026Yield to maturity3.761%

Price history

65 trading days to Sep 10, 2026

98.899.099.299.499.699.8Jun 9, 2026Sep 10, 2026Jun 9, 2026Close98.800Jun 11, 2026Close98.824Jun 15, 2026Close98.864Jun 17, 2026Close98.869Jun 22, 2026Close98.915Jun 24, 2026Close98.936Jun 26, 2026Close98.988Jun 30, 2026Close99.003Jul 2, 2026Close99.065Jul 7, 2026Close99.080Jul 9, 2026Close99.105Jul 13, 2026Close99.137Jul 15, 2026Close99.159Jul 17, 2026Close99.203Jul 21, 2026Close99.221Jul 23, 2026Close99.227Jul 27, 2026Close99.273Jul 29, 2026Close99.311Jul 31, 2026Close99.348Aug 4, 2026Close99.368Aug 6, 2026Close99.392Aug 10, 2026Close99.424Aug 12, 2026Close99.454Aug 14, 2026Close99.492Aug 18, 2026Close99.512Aug 20, 2026Close99.535Aug 24, 2026Close99.575Aug 26, 2026Close99.596Aug 28, 2026Close99.633Sep 1, 2026Close99.650Sep 3, 2026Close99.674Sep 8, 2026Close99.725Sep 10, 2026Close99.743
The most recent 20 trading days of prices for 912797VK0.
DateBidOfferClose
Sep 10, 202699.73399.73299.743
Sep 9, 202699.72699.72599.736
Sep 8, 202699.71599.71599.725
Sep 4, 202699.67299.67299.715
Sep 3, 202699.66399.66299.674
Sep 2, 202699.65099.65099.661
Sep 1, 202699.64099.63999.650
Aug 31, 202699.63299.63199.641
Aug 28, 202699.60399.60199.633
Aug 27, 202699.59599.59499.605
Aug 26, 202699.58599.58499.596
Aug 25, 202699.57599.57499.584
Aug 24, 202699.56699.56599.575
Aug 21, 202699.53699.53599.565
Aug 20, 202699.52599.52399.535
Aug 19, 202699.51499.51399.523
Aug 18, 202699.50399.50299.512
Aug 17, 202699.49299.49299.502
Aug 14, 202699.46299.46199.492
Aug 13, 202699.45399.45399.463

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 912797VK0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 3, 2026Jun 9, 2026New issue$69.0bn$72.7bn3.15x–
Aug 6, 2026Aug 11, 2026Reopening$100.0bn$104.7bn2.74x–
Sep 3, 2026Sep 8, 2026Reopening$90.0bn$95.4bn2.97x–

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.