Treasury bill

912797WU7

Original term
26-Week
Maturity
Apr 8, 2027
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Nov 9, 2026
Analyzed through
Nov 9, 2026

Statement of October 31, 2026

Amount outstanding
$88.17bn
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
4.260%
Modified duration
0.401 yr
DV01
0.0039
Convexity
0.00322
Dirty price
98.291

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 0.401 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 2.7 bp cheap to the curve on that day, 1.06 cents per 100 of face.

That is -0.04 standard deviations from its own typical residual.

Yield to maturity, 22 observations

4.15%4.20%4.25%4.30%4.35%4.40%Oct 8, 2026Nov 9, 2026Oct 8, 2026Yield to maturity4.308%Oct 9, 2026Yield to maturity4.327%Oct 13, 2026Yield to maturity4.337%Oct 14, 2026Yield to maturity4.368%Oct 15, 2026Yield to maturity4.347%Oct 16, 2026Yield to maturity4.334%Oct 19, 2026Yield to maturity4.355%Oct 20, 2026Yield to maturity4.355%Oct 21, 2026Yield to maturity4.343%Oct 22, 2026Yield to maturity4.280%Oct 23, 2026Yield to maturity4.299%Oct 26, 2026Yield to maturity4.309%Oct 27, 2026Yield to maturity4.319%Oct 28, 2026Yield to maturity4.298%Oct 29, 2026Yield to maturity4.266%Oct 30, 2026Yield to maturity4.243%Nov 2, 2026Yield to maturity4.232%Nov 3, 2026Yield to maturity4.253%Nov 4, 2026Yield to maturity4.252%Nov 5, 2026Yield to maturity4.199%Nov 6, 2026Yield to maturity4.240%Nov 9, 2026Yield to maturity4.260%

Price history

22 trading days to Nov 9, 2026

97.998.098.198.298.3Oct 8, 2026Nov 9, 2026Oct 8, 2026Close97.908Oct 9, 2026Close97.945Oct 13, 2026Close97.952Oct 14, 2026Close97.949Oct 15, 2026Close97.970Oct 16, 2026Close98.010Oct 19, 2026Close98.012Oct 20, 2026Close98.024Oct 21, 2026Close98.040Oct 22, 2026Close98.079Oct 23, 2026Close98.105Oct 26, 2026Close98.112Oct 27, 2026Close98.119Oct 28, 2026Close98.140Oct 29, 2026Close98.164Oct 30, 2026Close98.208Nov 2, 2026Close98.223Nov 3, 2026Close98.226Nov 4, 2026Close98.238Nov 5, 2026Close98.270Nov 6, 2026Close98.287Nov 9, 2026Close98.291
The most recent 20 trading days of prices for 912797WU7.
DateBidOfferClose
Nov 9, 202698.27998.28398.291
Nov 6, 202698.26298.26698.287
Nov 5, 202698.25098.25798.270
Nov 4, 202698.22698.22898.238
Nov 3, 202698.21998.22198.226
Nov 2, 202698.20398.20898.223
Oct 30, 202698.16498.16998.208
Oct 29, 202698.15398.15598.164
Oct 28, 202698.11998.12498.140
Oct 27, 202698.11298.11498.119
Oct 26, 202698.10098.10398.112
Oct 23, 202698.07098.07398.105
Oct 22, 202698.06398.06698.079
Oct 21, 202698.02898.03198.040
Oct 20, 202698.01798.01998.024
Oct 19, 202698.00098.00398.012
Oct 16, 202697.97597.97798.010
Oct 15, 202697.95397.95897.970
Oct 14, 202697.92797.93297.949
Oct 13, 202697.93597.93797.952

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 912797WU7.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Oct 5, 2026Oct 8, 2026New issue$82.0bn$88.2bn2.79x–

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.