Treasury bill

912797VQ7

Original term
52-Week
Maturity
Jul 8, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 30, 2026
Analyzed through
Sep 30, 2026

Statement of August 31, 2026

Amount outstanding
$54.76bn
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 30, 2026

Yield to maturity
4.390%
Modified duration
0.753 yr
DV01
0.0073
Convexity
0.00877
Dirty price
96.718

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 0.753 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 0.7 bp rich to the curve on that day, 0.48 cents per 100 of face.

That is -1.29 standard deviations from its own typical residual.

Yield to maturity, 59 observations

3.9%4.0%4.1%4.2%4.3%4.4%4.5%Jul 9, 2026Sep 30, 2026Jul 9, 2026Yield to maturity4.021%Jul 10, 2026Yield to maturity4.063%Jul 13, 2026Yield to maturity4.116%Jul 14, 2026Yield to maturity4.019%Jul 15, 2026Yield to maturity3.965%Jul 16, 2026Yield to maturity3.986%Jul 17, 2026Yield to maturity3.996%Jul 20, 2026Yield to maturity4.028%Jul 21, 2026Yield to maturity4.071%Jul 22, 2026Yield to maturity4.103%Jul 23, 2026Yield to maturity4.135%Jul 24, 2026Yield to maturity4.123%Jul 27, 2026Yield to maturity4.122%Jul 28, 2026Yield to maturity4.079%Jul 29, 2026Yield to maturity4.025%Jul 30, 2026Yield to maturity4.025%Jul 31, 2026Yield to maturity4.056%Aug 3, 2026Yield to maturity4.056%Aug 4, 2026Yield to maturity4.002%Aug 5, 2026Yield to maturity3.991%Aug 6, 2026Yield to maturity4.023%Aug 7, 2026Yield to maturity3.968%Aug 10, 2026Yield to maturity4.000%Aug 11, 2026Yield to maturity3.989%Aug 12, 2026Yield to maturity3.957%Aug 13, 2026Yield to maturity3.935%Aug 14, 2026Yield to maturity3.923%Aug 17, 2026Yield to maturity3.934%Aug 18, 2026Yield to maturity3.944%Aug 19, 2026Yield to maturity3.944%Aug 20, 2026Yield to maturity3.943%Aug 21, 2026Yield to maturity3.985%Aug 24, 2026Yield to maturity3.974%Aug 25, 2026Yield to maturity3.974%Aug 26, 2026Yield to maturity3.974%Aug 27, 2026Yield to maturity3.984%Aug 28, 2026Yield to maturity4.101%Aug 31, 2026Yield to maturity4.111%Sep 1, 2026Yield to maturity4.100%Sep 2, 2026Yield to maturity4.089%Sep 3, 2026Yield to maturity4.035%Sep 4, 2026Yield to maturity4.077%Sep 8, 2026Yield to maturity4.098%Sep 9, 2026Yield to maturity4.098%Sep 10, 2026Yield to maturity4.204%Sep 11, 2026Yield to maturity4.246%Sep 14, 2026Yield to maturity4.256%Sep 15, 2026Yield to maturity4.277%Sep 16, 2026Yield to maturity4.341%Sep 17, 2026Yield to maturity4.330%Sep 18, 2026Yield to maturity4.372%Sep 21, 2026Yield to maturity4.361%Sep 22, 2026Yield to maturity4.361%Sep 23, 2026Yield to maturity4.425%Sep 24, 2026Yield to maturity4.424%Sep 25, 2026Yield to maturity4.413%Sep 28, 2026Yield to maturity4.466%Sep 29, 2026Yield to maturity4.423%Sep 30, 2026Yield to maturity4.390%

Price history

59 trading days to Sep 30, 2026

96.096.296.496.696.8Jul 9, 2026Sep 30, 2026Jul 9, 2026Close96.118Jul 10, 2026Close96.110Jul 13, 2026Close96.071Jul 14, 2026Close96.171Jul 15, 2026Close96.232Jul 16, 2026Close96.222Jul 17, 2026Close96.244Jul 20, 2026Close96.226Jul 21, 2026Close96.198Jul 22, 2026Close96.179Jul 23, 2026Close96.161Jul 24, 2026Close96.204Jul 27, 2026Close96.215Jul 28, 2026Close96.264Jul 29, 2026Close96.322Jul 30, 2026Close96.333Jul 31, 2026Close96.337Aug 3, 2026Close96.348Aug 4, 2026Close96.405Aug 5, 2026Close96.425Aug 6, 2026Close96.408Aug 7, 2026Close96.486Aug 10, 2026Close96.469Aug 11, 2026Close96.489Aug 12, 2026Close96.527Aug 13, 2026Close96.556Aug 14, 2026Close96.597Aug 17, 2026Close96.598Aug 18, 2026Close96.600Aug 19, 2026Close96.610Aug 20, 2026Close96.621Aug 21, 2026Close96.617Aug 24, 2026Close96.636Aug 25, 2026Close96.647Aug 26, 2026Close96.657Aug 27, 2026Close96.659Aug 28, 2026Close96.596Aug 31, 2026Close96.599Sep 1, 2026Close96.618Sep 2, 2026Close96.638Sep 3, 2026Close96.691Sep 4, 2026Close96.701Sep 8, 2026Close96.695Sep 9, 2026Close96.706Sep 10, 2026Close96.633Sep 11, 2026Close96.634Sep 14, 2026Close96.637Sep 15, 2026Close96.632Sep 16, 2026Close96.594Sep 17, 2026Close96.614Sep 18, 2026Close96.617Sep 21, 2026Close96.636Sep 22, 2026Close96.648Sep 23, 2026Close96.612Sep 24, 2026Close96.624Sep 25, 2026Close96.667Sep 28, 2026Close96.639Sep 29, 2026Close96.683Sep 30, 2026Close96.718
The most recent 20 trading days of prices for 912797VQ7.
DateBidOfferClose
Sep 30, 202696.72696.71496.718
Sep 29, 202696.65196.63996.683
Sep 28, 202696.62896.61296.639
Sep 25, 202696.63296.61696.667
Sep 24, 202696.63696.62096.624
Sep 23, 202696.63296.60896.612
Sep 22, 202696.65296.63696.648
Sep 21, 202696.64996.63396.636
Sep 18, 202696.60696.59096.617
Sep 17, 202696.63196.61996.614
Sep 16, 202696.66996.64896.594
Sep 15, 202696.64596.63796.632
Sep 14, 202696.63496.61896.637
Sep 11, 202696.62996.60896.634
Sep 10, 202696.66896.65696.633
Sep 9, 202696.70396.68696.706
Sep 8, 202696.71896.70996.695
Sep 4, 202696.66696.64996.701
Sep 3, 202696.68096.67296.691
Sep 2, 202696.62796.61896.638

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 912797VQ7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 7, 2026Jul 9, 2026New issue$52.0bn$54.8bn3.14x–

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.