Treasury bill

912797VP9

Original term
17-Week
Maturity
Nov 3, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$164.79bn
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
3.919%
Modified duration
0.036 yr
DV01
0.0004
Convexity
0.0000253
Dirty price
99.861

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 0.036 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 14 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, 74 observations

3.75%3.80%3.85%3.90%3.95%4.00%4.05%Jul 7, 2026Oct 20, 2026Jul 7, 2026Yield to maturity3.870%Jul 8, 2026Yield to maturity3.870%Jul 9, 2026Yield to maturity3.838%Jul 10, 2026Yield to maturity3.868%Jul 13, 2026Yield to maturity3.899%Jul 14, 2026Yield to maturity3.847%Jul 15, 2026Yield to maturity3.815%Jul 16, 2026Yield to maturity3.835%Jul 17, 2026Yield to maturity3.834%Jul 20, 2026Yield to maturity3.834%Jul 21, 2026Yield to maturity3.854%Jul 22, 2026Yield to maturity3.885%Jul 23, 2026Yield to maturity3.926%Jul 24, 2026Yield to maturity3.935%Jul 27, 2026Yield to maturity3.924%Jul 28, 2026Yield to maturity3.893%Jul 29, 2026Yield to maturity3.809%Jul 30, 2026Yield to maturity3.799%Jul 31, 2026Yield to maturity3.798%Aug 3, 2026Yield to maturity3.807%Aug 4, 2026Yield to maturity3.797%Aug 5, 2026Yield to maturity3.796%Aug 6, 2026Yield to maturity3.796%Aug 7, 2026Yield to maturity3.784%Aug 10, 2026Yield to maturity3.794%Aug 11, 2026Yield to maturity3.794%Aug 12, 2026Yield to maturity3.783%Aug 13, 2026Yield to maturity3.783%Aug 14, 2026Yield to maturity3.771%Aug 17, 2026Yield to maturity3.781%Aug 18, 2026Yield to maturity3.771%Aug 19, 2026Yield to maturity3.760%Aug 20, 2026Yield to maturity3.770%Aug 21, 2026Yield to maturity3.769%Aug 24, 2026Yield to maturity3.758%Aug 25, 2026Yield to maturity3.768%Aug 26, 2026Yield to maturity3.757%Aug 27, 2026Yield to maturity3.757%Aug 28, 2026Yield to maturity3.787%Aug 31, 2026Yield to maturity3.817%Sep 1, 2026Yield to maturity3.827%Sep 2, 2026Yield to maturity3.826%Sep 3, 2026Yield to maturity3.805%Sep 4, 2026Yield to maturity3.814%Sep 8, 2026Yield to maturity3.824%Sep 9, 2026Yield to maturity3.834%Sep 10, 2026Yield to maturity3.854%Sep 11, 2026Yield to maturity3.924%Sep 14, 2026Yield to maturity3.934%Sep 15, 2026Yield to maturity3.924%Sep 16, 2026Yield to maturity3.933%Sep 17, 2026Yield to maturity3.913%Sep 18, 2026Yield to maturity3.911%Sep 21, 2026Yield to maturity3.911%Sep 22, 2026Yield to maturity3.921%Sep 23, 2026Yield to maturity3.930%Sep 24, 2026Yield to maturity3.940%Sep 25, 2026Yield to maturity4.011%Sep 28, 2026Yield to maturity4.000%Sep 29, 2026Yield to maturity3.979%Sep 30, 2026Yield to maturity3.968%Oct 1, 2026Yield to maturity3.937%Oct 2, 2026Yield to maturity3.936%Oct 5, 2026Yield to maturity3.946%Oct 6, 2026Yield to maturity3.945%Oct 7, 2026Yield to maturity3.945%Oct 8, 2026Yield to maturity3.965%Oct 9, 2026Yield to maturity3.953%Oct 13, 2026Yield to maturity3.963%Oct 14, 2026Yield to maturity3.942%Oct 15, 2026Yield to maturity3.952%Oct 16, 2026Yield to maturity3.940%Oct 19, 2026Yield to maturity3.930%Oct 20, 2026Yield to maturity3.919%

Price history

74 trading days to Oct 20, 2026

98.698.899.099.299.499.699.8100.0Jul 7, 2026Oct 20, 2026Jul 7, 2026Close98.764Jul 8, 2026Close98.775Jul 9, 2026Close98.795Jul 10, 2026Close98.817Jul 13, 2026Close98.818Jul 14, 2026Close98.844Jul 15, 2026Close98.863Jul 16, 2026Close98.868Jul 17, 2026Close98.899Jul 20, 2026Close98.909Jul 21, 2026Close98.914Jul 22, 2026Close98.916Jul 23, 2026Close98.915Jul 24, 2026Close98.944Jul 27, 2026Close98.957Jul 28, 2026Close98.976Jul 29, 2026Close99.008Jul 30, 2026Close99.021Jul 31, 2026Close99.052Aug 3, 2026Close99.060Aug 4, 2026Close99.073Aug 5, 2026Close99.083Aug 6, 2026Close99.093Aug 7, 2026Close99.126Aug 10, 2026Close99.134Aug 11, 2026Close99.145Aug 12, 2026Close99.157Aug 13, 2026Close99.168Aug 14, 2026Close99.201Aug 17, 2026Close99.209Aug 18, 2026Close99.221Aug 19, 2026Close99.233Aug 20, 2026Close99.242Aug 21, 2026Close99.272Aug 24, 2026Close99.284Aug 25, 2026Close99.293Aug 26, 2026Close99.305Aug 27, 2026Close99.315Aug 28, 2026Close99.340Aug 31, 2026Close99.346Sep 1, 2026Close99.354Sep 2, 2026Close99.365Sep 3, 2026Close99.378Sep 4, 2026Close99.418Sep 8, 2026Close99.427Sep 9, 2026Close99.436Sep 10, 2026Close99.444Sep 11, 2026Close99.465Sep 14, 2026Close99.475Sep 15, 2026Close99.487Sep 16, 2026Close99.496Sep 17, 2026Close99.509Sep 18, 2026Close99.541Sep 21, 2026Close99.552Sep 22, 2026Close99.562Sep 23, 2026Close99.571Sep 24, 2026Close99.581Sep 25, 2026Close99.606Sep 28, 2026Close99.618Sep 29, 2026Close99.631Sep 30, 2026Close99.642Oct 1, 2026Close99.656Oct 2, 2026Close99.688Oct 5, 2026Close99.698Oct 6, 2026Close99.709Oct 7, 2026Close99.720Oct 8, 2026Close99.729Oct 9, 2026Close99.773Oct 13, 2026Close99.783Oct 14, 2026Close99.795Oct 15, 2026Close99.805Oct 16, 2026Close99.838Oct 19, 2026Close99.850Oct 20, 2026Close99.861
The most recent 20 trading days of prices for 912797VP9.
DateBidOfferClose
Oct 20, 202699.85099.85099.861
Oct 19, 202699.83999.83899.850
Oct 16, 202699.80799.80699.838
Oct 15, 202699.79699.79599.805
Oct 14, 202699.78499.78399.795
Oct 13, 202699.77399.77299.783
Oct 9, 202699.73099.72999.773
Oct 8, 202699.71999.71999.729
Oct 7, 202699.70999.70999.720
Oct 6, 202699.69999.69899.709
Oct 5, 202699.68999.68899.698
Oct 2, 202699.65699.65599.688
Oct 1, 202699.64599.64399.656
Sep 30, 202699.63399.63299.642
Sep 29, 202699.61999.61899.631
Sep 28, 202699.60999.60799.618
Sep 25, 202699.57999.57899.606
Sep 24, 202699.57399.57299.581
Sep 23, 202699.56299.56099.571
Sep 22, 202699.55199.55199.562

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 912797VP9.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 1, 2026Jul 7, 2026New issue$72.0bn$74.7bn2.66x–
Sep 3, 2026Sep 8, 2026Reopening$85.0bn$90.1bn3.02x–
Oct 1, 2026Oct 6, 2026Reopening$100.0bn$105.1bn2.83x–

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.