Treasury bill

912797WR4

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

Statement of September 30, 2026

Amount outstanding
$77.95bn
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
4.193%
Modified duration
0.263 yr
DV01
0.0026
Convexity
0.00138
Dirty price
98.898

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 0.263 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 0.1 bp rich to the curve on that day, 0.02 cents per 100 of face.

Not scored against its own history. The z-score is written by a separate pass, and a security needs twenty observations before one is meaningful, so a new issue carries none for roughly its first month. An absent score is not evidence that a security is fairly priced.

Yield to maturity, 15 observations

4.14%4.16%4.18%4.20%4.22%4.24%Sep 29, 2026Oct 20, 2026Sep 29, 2026Yield to maturity4.224%Sep 30, 2026Yield to maturity4.203%Oct 1, 2026Yield to maturity4.150%Oct 2, 2026Yield to maturity4.149%Oct 5, 2026Yield to maturity4.169%Oct 6, 2026Yield to maturity4.158%Oct 7, 2026Yield to maturity4.168%Oct 8, 2026Yield to maturity4.168%Oct 9, 2026Yield to maturity4.186%Oct 13, 2026Yield to maturity4.186%Oct 14, 2026Yield to maturity4.227%Oct 15, 2026Yield to maturity4.216%Oct 16, 2026Yield to maturity4.184%Oct 19, 2026Yield to maturity4.183%Oct 20, 2026Yield to maturity4.193%

Price history

15 trading days to Oct 20, 2026

98.6598.7098.7598.8098.8598.90Sep 29, 2026Oct 20, 2026Sep 29, 2026Close98.653Sep 30, 2026Close98.671Oct 1, 2026Close98.698Oct 2, 2026Close98.732Oct 5, 2026Close98.737Oct 6, 2026Close98.751Oct 7, 2026Close98.759Oct 8, 2026Close98.771Oct 9, 2026Close98.810Oct 13, 2026Close98.821Oct 14, 2026Close98.821Oct 15, 2026Close98.835Oct 16, 2026Close98.878Oct 19, 2026Close98.889Oct 20, 2026Close98.898
The most recent 15 trading days of prices for 912797WR4.
DateBidOfferClose
Oct 20, 202698.88998.88798.898
Oct 19, 202698.87898.87598.889
Oct 16, 202698.84798.84498.878
Oct 15, 202698.82698.82498.835
Oct 14, 202698.81398.81098.821
Oct 13, 202698.81198.81098.821
Oct 9, 202698.76998.76898.810
Oct 8, 202698.76198.75998.771
Oct 7, 202698.75098.74898.759
Oct 6, 202698.74298.74098.751
Oct 5, 202698.72998.72698.737
Oct 2, 202698.70098.69898.732
Oct 1, 202698.68298.68098.698
Sep 30, 202698.66198.65998.671
Sep 29, 202698.63398.63298.653

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 912797WR4.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Sep 23, 2026Sep 29, 2026New issue$72.0bn$78.0bn2.81x–

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.

Free to benchmark against. Paid only to track. Measuring anything against these curves and indices is free. No license, no fee, no registration, and no permission needed to say that you did, including in a prospectus. A fee applies to one thing: launching a product that tracks an index.

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.