Treasury bill

912797VU8

Original term
26-Week
Maturity
Jan 28, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$84.55bn
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
4.194%
Modified duration
0.268 yr
DV01
0.0027
Convexity
0.00144
Dirty price
98.875

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 0.268 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 0.5 bp rich to the curve on that day, 0.13 cents per 100 of face.

That is -0.47 standard deviations from its own typical residual.

Yield to maturity, 57 observations

3.8%3.9%4.0%4.1%4.2%4.3%Jul 30, 2026Oct 20, 2026Jul 30, 2026Yield to maturity3.949%Jul 31, 2026Yield to maturity3.948%Aug 3, 2026Yield to maturity3.958%Aug 4, 2026Yield to maturity3.926%Aug 5, 2026Yield to maturity3.915%Aug 6, 2026Yield to maturity3.925%Aug 7, 2026Yield to maturity3.892%Aug 10, 2026Yield to maturity3.913%Aug 11, 2026Yield to maturity3.912%Aug 12, 2026Yield to maturity3.891%Aug 13, 2026Yield to maturity3.869%Aug 14, 2026Yield to maturity3.868%Aug 17, 2026Yield to maturity3.868%Aug 18, 2026Yield to maturity3.878%Aug 19, 2026Yield to maturity3.877%Aug 20, 2026Yield to maturity3.877%Aug 21, 2026Yield to maturity3.897%Aug 24, 2026Yield to maturity3.886%Aug 25, 2026Yield to maturity3.864%Aug 26, 2026Yield to maturity3.864%Aug 27, 2026Yield to maturity3.864%Aug 28, 2026Yield to maturity3.946%Aug 31, 2026Yield to maturity3.956%Sep 1, 2026Yield to maturity3.956%Sep 2, 2026Yield to maturity3.955%Sep 3, 2026Yield to maturity3.903%Sep 4, 2026Yield to maturity3.932%Sep 8, 2026Yield to maturity3.942%Sep 9, 2026Yield to maturity3.952%Sep 10, 2026Yield to maturity4.015%Sep 11, 2026Yield to maturity4.076%Sep 14, 2026Yield to maturity4.096%Sep 15, 2026Yield to maturity4.106%Sep 16, 2026Yield to maturity4.137%Sep 17, 2026Yield to maturity4.126%Sep 18, 2026Yield to maturity4.135%Sep 21, 2026Yield to maturity4.156%Sep 22, 2026Yield to maturity4.176%Sep 23, 2026Yield to maturity4.197%Sep 24, 2026Yield to maturity4.248%Sep 25, 2026Yield to maturity4.236%Sep 28, 2026Yield to maturity4.236%Sep 29, 2026Yield to maturity4.204%Sep 30, 2026Yield to maturity4.193%Oct 1, 2026Yield to maturity4.151%Oct 2, 2026Yield to maturity4.139%Oct 5, 2026Yield to maturity4.160%Oct 6, 2026Yield to maturity4.170%Oct 7, 2026Yield to maturity4.159%Oct 8, 2026Yield to maturity4.169%Oct 9, 2026Yield to maturity4.177%Oct 13, 2026Yield to maturity4.187%Oct 14, 2026Yield to maturity4.207%Oct 15, 2026Yield to maturity4.207%Oct 16, 2026Yield to maturity4.195%Oct 19, 2026Yield to maturity4.184%Oct 20, 2026Yield to maturity4.194%

Price history

57 trading days to Oct 20, 2026

98.098.298.498.698.899.0Jul 30, 2026Oct 20, 2026Jul 30, 2026Close98.079Jul 31, 2026Close98.111Aug 3, 2026Close98.117Aug 4, 2026Close98.142Aug 5, 2026Close98.158Aug 6, 2026Close98.163Aug 7, 2026Close98.209Aug 10, 2026Close98.210Aug 11, 2026Close98.221Aug 12, 2026Close98.241Aug 13, 2026Close98.260Aug 14, 2026Close98.292Aug 17, 2026Close98.302Aug 18, 2026Close98.308Aug 19, 2026Close98.318Aug 20, 2026Close98.329Aug 21, 2026Close98.352Aug 24, 2026Close98.366Aug 25, 2026Close98.385Aug 26, 2026Close98.396Aug 27, 2026Close98.406Aug 28, 2026Close98.404Aug 31, 2026Close98.411Sep 1, 2026Close98.421Sep 2, 2026Close98.432Sep 3, 2026Close98.463Sep 4, 2026Close98.493Sep 8, 2026Close98.500Sep 9, 2026Close98.507Sep 10, 2026Close98.494Sep 11, 2026Close98.504Sep 14, 2026Close98.507Sep 15, 2026Close98.515Sep 16, 2026Close98.515Sep 17, 2026Close98.530Sep 18, 2026Close98.559Sep 21, 2026Close98.564Sep 22, 2026Close98.568Sep 23, 2026Close98.572Sep 24, 2026Close98.566Sep 25, 2026Close98.604Sep 28, 2026Close98.615Sep 29, 2026Close98.637Sep 30, 2026Close98.651Oct 1, 2026Close98.676Oct 2, 2026Close98.713Oct 5, 2026Close98.718Oct 6, 2026Close98.726Oct 7, 2026Close98.740Oct 8, 2026Close98.748Oct 9, 2026Close98.790Oct 13, 2026Close98.799Oct 14, 2026Close98.804Oct 15, 2026Close98.816Oct 16, 2026Close98.853Oct 19, 2026Close98.867Oct 20, 2026Close98.875
The most recent 20 trading days of prices for 912797VU8.
DateBidOfferClose
Oct 20, 202698.86898.86798.875
Oct 19, 202698.85398.85098.867
Oct 16, 202698.82198.81898.853
Oct 15, 202698.80998.80498.816
Oct 14, 202698.78898.78498.804
Oct 13, 202698.79098.78798.799
Oct 9, 202698.74898.74598.790
Oct 8, 202698.74098.73798.748
Oct 7, 202698.72998.72698.740
Oct 6, 202698.71898.71498.726
Oct 5, 202698.70898.70698.718
Oct 2, 202698.68198.67698.713
Oct 1, 202698.66198.65898.676
Sep 30, 202698.64898.64398.651
Sep 29, 202698.61598.61298.637
Sep 28, 202698.60498.60098.615
Sep 25, 202698.56998.56698.604
Sep 24, 202698.56998.56598.566
Sep 23, 202698.56198.55798.572
Sep 22, 202698.56098.55698.568

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 912797VU8.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 27, 2026Jul 30, 2026New issue$79.0bn$84.6bn3.12x–

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.