Treasury bill

912797WD5

Original term
26-Week
Maturity
Mar 4, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$83.76bn
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, November 9, 2026

Yield to maturity
4.191%
Modified duration
0.308 yr
DV01
0.0030
Convexity
0.0019
Dirty price
98.708

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 0.308 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 0.2 bp cheap to the curve on that day, 0.06 cents per 100 of face.

That is -0.53 standard deviations from its own typical residual.

Yield to maturity, 46 observations

3.9%4.0%4.1%4.2%4.3%4.4%Sep 3, 2026Nov 9, 2026Sep 3, 2026Yield to maturity3.991%Sep 4, 2026Yield to maturity4.010%Sep 8, 2026Yield to maturity4.020%Sep 9, 2026Yield to maturity4.031%Sep 10, 2026Yield to maturity4.093%Sep 11, 2026Yield to maturity4.145%Sep 14, 2026Yield to maturity4.176%Sep 15, 2026Yield to maturity4.175%Sep 16, 2026Yield to maturity4.217%Sep 17, 2026Yield to maturity4.206%Sep 18, 2026Yield to maturity4.226%Sep 21, 2026Yield to maturity4.246%Sep 22, 2026Yield to maturity4.246%Sep 23, 2026Yield to maturity4.287%Sep 24, 2026Yield to maturity4.308%Sep 25, 2026Yield to maturity4.317%Sep 28, 2026Yield to maturity4.337%Sep 29, 2026Yield to maturity4.305%Sep 30, 2026Yield to maturity4.273%Oct 1, 2026Yield to maturity4.220%Oct 2, 2026Yield to maturity4.219%Oct 5, 2026Yield to maturity4.229%Oct 6, 2026Yield to maturity4.218%Oct 7, 2026Yield to maturity4.207%Oct 8, 2026Yield to maturity4.227%Oct 9, 2026Yield to maturity4.257%Oct 13, 2026Yield to maturity4.256%Oct 14, 2026Yield to maturity4.287%Oct 15, 2026Yield to maturity4.287%Oct 16, 2026Yield to maturity4.254%Oct 19, 2026Yield to maturity4.274%Oct 20, 2026Yield to maturity4.263%Oct 21, 2026Yield to maturity4.263%Oct 22, 2026Yield to maturity4.210%Oct 23, 2026Yield to maturity4.229%Oct 26, 2026Yield to maturity4.239%Oct 27, 2026Yield to maturity4.228%Oct 28, 2026Yield to maturity4.217%Oct 29, 2026Yield to maturity4.207%Oct 30, 2026Yield to maturity4.195%Nov 2, 2026Yield to maturity4.173%Nov 3, 2026Yield to maturity4.183%Nov 4, 2026Yield to maturity4.183%Nov 5, 2026Yield to maturity4.141%Nov 6, 2026Yield to maturity4.160%Nov 9, 2026Yield to maturity4.191%

Price history

46 trading days to Nov 9, 2026

98.098.298.498.698.8Sep 3, 2026Nov 9, 2026Sep 3, 2026Close98.059Sep 4, 2026Close98.092Sep 8, 2026Close98.098Sep 9, 2026Close98.104Sep 10, 2026Close98.086Sep 11, 2026Close98.095Sep 14, 2026Close98.092Sep 15, 2026Close98.103Sep 16, 2026Close98.096Sep 17, 2026Close98.112Sep 18, 2026Close98.137Sep 21, 2026Close98.139Sep 22, 2026Close98.150Sep 23, 2026Close98.144Sep 24, 2026Close98.147Sep 25, 2026Close98.177Sep 28, 2026Close98.180Sep 29, 2026Close98.205Sep 30, 2026Close98.229Oct 1, 2026Close98.262Oct 2, 2026Close98.296Oct 5, 2026Close98.303Oct 6, 2026Close98.319Oct 7, 2026Close98.334Oct 8, 2026Close98.337Oct 9, 2026Close98.371Oct 13, 2026Close98.382Oct 14, 2026Close98.382Oct 15, 2026Close98.394Oct 16, 2026Close98.440Oct 19, 2026Close98.444Oct 20, 2026Close98.459Oct 21, 2026Close98.471Oct 22, 2026Close98.500Oct 23, 2026Close98.527Oct 26, 2026Close98.535Oct 27, 2026Close98.550Oct 28, 2026Close98.565Oct 29, 2026Close98.580Oct 30, 2026Close98.617Nov 2, 2026Close98.635Nov 3, 2026Close98.643Nov 4, 2026Close98.655Nov 5, 2026Close98.679Nov 6, 2026Close98.706Nov 9, 2026Close98.708
The most recent 20 trading days of prices for 912797WD5.
DateBidOfferClose
Nov 9, 202698.69798.70198.708
Nov 6, 202698.67298.67698.706
Nov 5, 202698.66198.66698.679
Nov 4, 202698.64098.64398.655
Nov 3, 202698.63298.63498.643
Nov 2, 202698.61498.61798.635
Oct 30, 202698.58398.58798.617
Oct 29, 202698.57298.57698.580
Oct 28, 202698.54798.55098.565
Oct 27, 202698.53998.54298.550
Oct 26, 202698.52498.52798.535
Oct 23, 202698.49398.49598.527
Oct 22, 202698.48298.48598.500
Oct 21, 202698.45998.46398.471
Oct 20, 202698.44898.44998.459
Oct 19, 202698.43298.43698.444
Oct 16, 202698.40198.40598.440
Oct 15, 202698.38698.39098.394
Oct 14, 202698.36398.36598.382
Oct 13, 202698.36398.36798.382

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.

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 912797WD5.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Aug 31, 2026Sep 3, 2026New issue$79.0bn$83.8bn2.63x–

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.