Treasury bill

912797VY0

Original term
17-Week
Maturity
Nov 24, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$286.25bn
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, November 9, 2026

Yield to maturity
3.930%
Modified duration
0.038 yr
DV01
0.0004
Convexity
0.0000293
Dirty price
99.850

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 0.038 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 0.03 cents per 100 of face cheap to the curve on that day.

Shown as a price rather than a yield. This bill is 15 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, 73 observations

3.7%3.8%3.9%4.0%4.1%4.2%Jul 28, 2026Nov 9, 2026Jul 28, 2026Yield to maturity3.953%Jul 29, 2026Yield to maturity3.870%Jul 30, 2026Yield to maturity3.859%Jul 31, 2026Yield to maturity3.868%Aug 3, 2026Yield to maturity3.878%Aug 4, 2026Yield to maturity3.857%Aug 5, 2026Yield to maturity3.846%Aug 6, 2026Yield to maturity3.856%Aug 7, 2026Yield to maturity3.824%Aug 10, 2026Yield to maturity3.834%Aug 11, 2026Yield to maturity3.823%Aug 12, 2026Yield to maturity3.812%Aug 13, 2026Yield to maturity3.812%Aug 14, 2026Yield to maturity3.811%Aug 17, 2026Yield to maturity3.810%Aug 18, 2026Yield to maturity3.810%Aug 19, 2026Yield to maturity3.809%Aug 20, 2026Yield to maturity3.799%Aug 21, 2026Yield to maturity3.808%Aug 24, 2026Yield to maturity3.807%Aug 25, 2026Yield to maturity3.786%Aug 26, 2026Yield to maturity3.776%Aug 27, 2026Yield to maturity3.765%Aug 28, 2026Yield to maturity3.826%Aug 31, 2026Yield to maturity3.825%Sep 1, 2026Yield to maturity3.825%Sep 2, 2026Yield to maturity3.825%Sep 3, 2026Yield to maturity3.804%Sep 4, 2026Yield to maturity3.823%Sep 8, 2026Yield to maturity3.832%Sep 9, 2026Yield to maturity3.842%Sep 10, 2026Yield to maturity3.904%Sep 11, 2026Yield to maturity3.975%Sep 14, 2026Yield to maturity3.995%Sep 15, 2026Yield to maturity3.994%Sep 16, 2026Yield to maturity4.004%Sep 17, 2026Yield to maturity3.993%Sep 18, 2026Yield to maturity4.002%Sep 21, 2026Yield to maturity4.002%Sep 22, 2026Yield to maturity4.001%Sep 23, 2026Yield to maturity4.022%Sep 24, 2026Yield to maturity4.072%Sep 25, 2026Yield to maturity4.102%Sep 28, 2026Yield to maturity4.101%Sep 29, 2026Yield to maturity4.080%Sep 30, 2026Yield to maturity4.060%Oct 1, 2026Yield to maturity4.028%Oct 2, 2026Yield to maturity4.006%Oct 5, 2026Yield to maturity4.027%Oct 6, 2026Yield to maturity4.026%Oct 7, 2026Yield to maturity4.026%Oct 8, 2026Yield to maturity4.035%Oct 9, 2026Yield to maturity4.034%Oct 13, 2026Yield to maturity4.033%Oct 14, 2026Yield to maturity4.043%Oct 15, 2026Yield to maturity4.043%Oct 16, 2026Yield to maturity4.011%Oct 19, 2026Yield to maturity4.020%Oct 20, 2026Yield to maturity4.010%Oct 21, 2026Yield to maturity3.999%Oct 22, 2026Yield to maturity3.978%Oct 23, 2026Yield to maturity3.987%Oct 26, 2026Yield to maturity4.017%Oct 27, 2026Yield to maturity3.996%Oct 28, 2026Yield to maturity3.965%Oct 29, 2026Yield to maturity3.965%Oct 30, 2026Yield to maturity3.964%Nov 2, 2026Yield to maturity3.953%Nov 3, 2026Yield to maturity3.912%Nov 4, 2026Yield to maturity3.922%Nov 5, 2026Yield to maturity3.911%Nov 6, 2026Yield to maturity3.910%Nov 9, 2026Yield to maturity3.930%

Price history

73 trading days to Nov 9, 2026

98.698.899.099.299.499.699.8100.0Jul 28, 2026Nov 9, 2026Jul 28, 2026Close98.738Jul 29, 2026Close98.775Jul 30, 2026Close98.788Jul 31, 2026Close98.817Aug 3, 2026Close98.824Aug 4, 2026Close98.841Aug 5, 2026Close98.854Aug 6, 2026Close98.862Aug 7, 2026Close98.902Aug 10, 2026Close98.909Aug 11, 2026Close98.922Aug 12, 2026Close98.936Aug 13, 2026Close98.946Aug 14, 2026Close98.977Aug 17, 2026Close98.987Aug 18, 2026Close98.998Aug 19, 2026Close99.008Aug 20, 2026Close99.021Aug 21, 2026Close99.049Aug 24, 2026Close99.060Aug 25, 2026Close99.075Aug 26, 2026Close99.088Aug 27, 2026Close99.100Aug 28, 2026Close99.117Aug 31, 2026Close99.127Sep 1, 2026Close99.138Sep 2, 2026Close99.148Sep 3, 2026Close99.163Sep 4, 2026Close99.200Sep 8, 2026Close99.208Sep 9, 2026Close99.217Sep 10, 2026Close99.215Sep 11, 2026Close99.233Sep 14, 2026Close99.240Sep 15, 2026Close99.251Sep 16, 2026Close99.260Sep 17, 2026Close99.272Sep 18, 2026Close99.303Sep 21, 2026Close99.314Sep 22, 2026Close99.325Sep 23, 2026Close99.332Sep 24, 2026Close99.335Sep 25, 2026Close99.364Sep 28, 2026Close99.375Sep 29, 2026Close99.389Sep 30, 2026Close99.403Oct 1, 2026Close99.418Oct 2, 2026Close99.454Oct 5, 2026Close99.462Oct 6, 2026Close99.473Oct 7, 2026Close99.484Oct 8, 2026Close99.494Oct 9, 2026Close99.538Oct 13, 2026Close99.549Oct 14, 2026Close99.559Oct 15, 2026Close99.570Oct 16, 2026Close99.606Oct 19, 2026Close99.616Oct 20, 2026Close99.628Oct 21, 2026Close99.640Oct 22, 2026Close99.652Oct 23, 2026Close99.684Oct 26, 2026Close99.693Oct 27, 2026Close99.705Oct 28, 2026Close99.718Oct 29, 2026Close99.729Oct 30, 2026Close99.762Nov 2, 2026Close99.773Nov 3, 2026Close99.786Nov 4, 2026Close99.796Nov 5, 2026Close99.808Nov 6, 2026Close99.840Nov 9, 2026Close99.850
The most recent 20 trading days of prices for 912797VY0.
DateBidOfferClose
Nov 9, 202699.83999.84099.850
Nov 6, 202699.80899.80899.840
Nov 5, 202699.79799.79799.808
Nov 4, 202699.78699.78699.796
Nov 3, 202699.77499.77499.786
Nov 2, 202699.76299.76299.773
Oct 30, 202699.72899.72999.762
Oct 29, 202699.71899.71899.729
Oct 28, 202699.70499.70599.718
Oct 27, 202699.69499.69499.705
Oct 26, 202699.68399.68399.693
Oct 23, 202699.65199.65199.684
Oct 22, 202699.63899.63999.652
Oct 21, 202699.62899.62899.640
Oct 20, 202699.61799.61899.628
Oct 19, 202699.60699.60799.616
Oct 16, 202699.57199.57299.606
Oct 15, 202699.55999.55999.570
Oct 14, 202699.54499.54699.559
Oct 13, 202699.53799.53899.549

Prices are per 100 of face, from Treasury's own end-of-day file. A dash means that side was not quoted that day, which is almost always the offer and almost always near maturity: a holder of a bill days from paying par has little reason to sell it.

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 912797VY0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Jul 22, 2026Jul 28, 2026New issue$72.0bn$76.3bn2.76x–
Sep 24, 2026Sep 29, 2026Reopening$85.0bn$92.0bn2.76x–
Oct 22, 2026Oct 27, 2026Reopening$110.0bn$117.9bn2.82x–

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.