Treasury bill

912797VL8

Original term
17-Week
Maturity
Oct 13, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 10, 2026
Analyzed through
Sep 10, 2026

Statement of August 31, 2026

Amount outstanding
$181.05bn
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
3.815%
Modified duration
0.087 yr
DV01
0.0009
Convexity
0.015
Dirty price
99.667

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 0.087 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 2.0 bp cheap to the curve on that day, 0.17 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, 60 observations

3.70%3.73%3.75%3.77%3.80%3.83%3.85%Jun 16, 2026Sep 10, 2026Jun 16, 2026Yield to maturity3.756%Jun 18, 2026Yield to maturity3.795%Jun 23, 2026Yield to maturity3.826%Jun 25, 2026Yield to maturity3.815%Jun 29, 2026Yield to maturity3.823%Jul 1, 2026Yield to maturity3.781%Jul 6, 2026Yield to maturity3.800%Jul 8, 2026Yield to maturity3.789%Jul 10, 2026Yield to maturity3.756%Jul 14, 2026Yield to maturity3.766%Jul 16, 2026Yield to maturity3.765%Jul 20, 2026Yield to maturity3.763%Jul 22, 2026Yield to maturity3.804%Jul 24, 2026Yield to maturity3.844%Jul 28, 2026Yield to maturity3.802%Jul 30, 2026Yield to maturity3.718%Aug 3, 2026Yield to maturity3.768%Aug 5, 2026Yield to maturity3.747%Aug 7, 2026Yield to maturity3.766%Aug 11, 2026Yield to maturity3.755%Aug 13, 2026Yield to maturity3.734%Aug 17, 2026Yield to maturity3.753%Aug 19, 2026Yield to maturity3.731%Aug 21, 2026Yield to maturity3.730%Aug 25, 2026Yield to maturity3.719%Aug 27, 2026Yield to maturity3.728%Aug 31, 2026Yield to maturity3.768%Sep 2, 2026Yield to maturity3.777%Sep 4, 2026Yield to maturity3.745%Sep 9, 2026Yield to maturity3.764%Sep 10, 2026Yield to maturity3.815%

Price history

60 trading days to Sep 10, 2026

98.698.899.099.299.499.699.8Jun 16, 2026Sep 10, 2026Jun 16, 2026Close98.800Jun 18, 2026Close98.839Jun 23, 2026Close98.850Jun 25, 2026Close98.874Jun 29, 2026Close98.912Jul 1, 2026Close98.944Jul 6, 2026Close98.990Jul 8, 2026Close99.013Jul 10, 2026Close99.062Jul 14, 2026Close99.080Jul 16, 2026Close99.100Jul 20, 2026Close99.141Jul 22, 2026Close99.153Jul 24, 2026Close99.185Jul 28, 2026Close99.215Jul 30, 2026Close99.252Aug 3, 2026Close99.282Aug 5, 2026Close99.307Aug 7, 2026Close99.344Aug 11, 2026Close99.366Aug 13, 2026Close99.390Aug 17, 2026Close99.428Aug 19, 2026Close99.451Aug 21, 2026Close99.492Aug 25, 2026Close99.513Aug 27, 2026Close99.532Aug 31, 2026Close99.568Sep 2, 2026Close99.588Sep 4, 2026Close99.642Sep 9, 2026Close99.661Sep 10, 2026Close99.667
The most recent 20 trading days of prices for 912797VL8.
DateBidOfferClose
Sep 10, 202699.65799.65699.667
Sep 9, 202699.65199.65199.661
Sep 8, 202699.64399.64299.652
Sep 4, 202699.60099.59999.642
Sep 3, 202699.59199.59099.602
Sep 2, 202699.57699.57599.588
Sep 1, 202699.56699.56599.575
Aug 31, 202699.56099.55999.568
Aug 28, 202699.53099.52899.560
Aug 27, 202699.52399.52299.532
Aug 26, 202699.51499.51399.523
Aug 25, 202699.50399.50399.513
Aug 24, 202699.49299.49299.502
Aug 21, 202699.46299.46199.492
Aug 20, 202699.45299.45199.461
Aug 19, 202699.44099.43999.451
Aug 18, 202699.43099.42999.439
Aug 17, 202699.41999.41799.428
Aug 14, 202699.39099.38899.419
Aug 13, 202699.38399.38299.390

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 912797VL8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jun 10, 2026Jun 16, 2026New issue$69.0bn$73.6bn2.88x–
Aug 13, 2026Aug 18, 2026Reopening$100.0bn$107.4bn2.85x–

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.