Treasury bill

912797WC7

Original term
26-Week
Maturity
Feb 25, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Oct 20, 2026
Analyzed through
Oct 20, 2026

Statement of September 30, 2026

Amount outstanding
$82.56bn
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
4.249%
Modified duration
0.343 yr
DV01
0.0034
Convexity
0.00235
Dirty price
98.543

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 0.343 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 0.8 bp rich to the curve on that day, 0.28 cents per 100 of face.

That is -0.40 standard deviations from its own typical residual.

Yield to maturity, 37 observations

3.9%4.0%4.1%4.2%4.3%4.4%Aug 27, 2026Oct 20, 2026Aug 27, 2026Yield to maturity3.907%Aug 28, 2026Yield to maturity3.979%Aug 31, 2026Yield to maturity3.979%Sep 1, 2026Yield to maturity4.010%Sep 2, 2026Yield to maturity3.999%Sep 3, 2026Yield to maturity3.956%Sep 4, 2026Yield to maturity3.976%Sep 8, 2026Yield to maturity3.986%Sep 9, 2026Yield to maturity3.996%Sep 10, 2026Yield to maturity4.038%Sep 11, 2026Yield to maturity4.110%Sep 14, 2026Yield to maturity4.141%Sep 15, 2026Yield to maturity4.140%Sep 16, 2026Yield to maturity4.203%Sep 17, 2026Yield to maturity4.171%Sep 18, 2026Yield to maturity4.180%Sep 21, 2026Yield to maturity4.201%Sep 22, 2026Yield to maturity4.200%Sep 23, 2026Yield to maturity4.231%Sep 24, 2026Yield to maturity4.262%Sep 25, 2026Yield to maturity4.282%Sep 28, 2026Yield to maturity4.302%Sep 29, 2026Yield to maturity4.281%Sep 30, 2026Yield to maturity4.259%Oct 1, 2026Yield to maturity4.185%Oct 2, 2026Yield to maturity4.226%Oct 5, 2026Yield to maturity4.225%Oct 6, 2026Yield to maturity4.214%Oct 7, 2026Yield to maturity4.214%Oct 8, 2026Yield to maturity4.224%Oct 9, 2026Yield to maturity4.232%Oct 13, 2026Yield to maturity4.242%Oct 14, 2026Yield to maturity4.273%Oct 15, 2026Yield to maturity4.262%Oct 16, 2026Yield to maturity4.250%Oct 19, 2026Yield to maturity4.260%Oct 20, 2026Yield to maturity4.249%

Price history

37 trading days to Oct 20, 2026

98.098.198.298.398.498.598.6Aug 27, 2026Oct 20, 2026Aug 27, 2026Close98.100Aug 28, 2026Close98.096Aug 31, 2026Close98.107Sep 1, 2026Close98.103Sep 2, 2026Close98.119Sep 3, 2026Close98.149Sep 4, 2026Close98.182Sep 8, 2026Close98.188Sep 9, 2026Close98.194Sep 10, 2026Close98.186Sep 11, 2026Close98.187Sep 14, 2026Close98.184Sep 15, 2026Close98.195Sep 16, 2026Close98.180Sep 17, 2026Close98.204Sep 18, 2026Close98.234Sep 21, 2026Close98.236Sep 22, 2026Close98.248Sep 23, 2026Close98.246Sep 24, 2026Close98.245Sep 25, 2026Close98.271Sep 28, 2026Close98.274Sep 29, 2026Close98.294Sep 30, 2026Close98.314Oct 1, 2026Close98.353Oct 2, 2026Close98.371Oct 5, 2026Close98.383Oct 6, 2026Close98.398Oct 7, 2026Close98.409Oct 8, 2026Close98.417Oct 9, 2026Close98.459Oct 13, 2026Close98.466Oct 14, 2026Close98.467Oct 15, 2026Close98.482Oct 16, 2026Close98.520Oct 19, 2026Close98.528Oct 20, 2026Close98.543
The most recent 20 trading days of prices for 912797WC7.
DateBidOfferClose
Oct 20, 202698.53998.53598.543
Oct 19, 202698.52098.51698.528
Oct 16, 202698.48998.48698.520
Oct 15, 202698.47498.47198.482
Oct 14, 202698.44898.44498.467
Oct 13, 202698.45798.45598.466
Oct 9, 202698.41798.41398.459
Oct 8, 202698.40698.40298.417
Oct 7, 202698.39698.39498.409
Oct 6, 202698.38998.38798.398
Oct 5, 202698.37398.37198.383
Oct 2, 202698.35898.35398.371
Oct 1, 202698.34298.33898.353
Sep 30, 202698.31098.30698.314
Sep 29, 202698.27898.27498.294
Sep 28, 202698.27398.27198.274
Sep 25, 202698.23498.23298.271
Sep 24, 202698.24698.24298.245
Sep 23, 202698.23598.23098.246
Sep 22, 202698.24198.23698.248

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 912797WC7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 24, 2026Aug 27, 2026New issue$79.0bn$82.6bn3.05x–

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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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.