Treasury bill
912797SK4
- Original term
- 52-Week
- Maturity
- Oct 29, 2026
- Coupon
- –
- Pays
- None
- Dated
- –
- First coupon
- –
- Priced through
- Sep 9, 2026
- Analyzed through
- Sep 9, 2026
Statement of August 31, 2026
- Amount outstanding
- $233.61bn
- 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, September 9, 2026
- Yield to maturity
- 3.811%
- Modified duration
- 0.134 yr
- DV01
- 0.0013
- Convexity
- 0.036
- Dirty price
- 99.491
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 0.134 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 1.4 bp cheap to the curve on that day, 0.18 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, 215 observations
Price history
215 trading days to Sep 9, 2026
| Date | Bid | Offer | Close |
|---|---|---|---|
| Sep 9, 2026 | 99.482 | 99.481 | 99.491 |
| Sep 8, 2026 | 99.474 | 99.473 | 99.483 |
| Sep 4, 2026 | 99.432 | 99.430 | 99.473 |
| Sep 3, 2026 | 99.420 | 99.418 | 99.433 |
| Sep 2, 2026 | 99.407 | 99.406 | 99.417 |
| Sep 1, 2026 | 99.397 | 99.396 | 99.406 |
| Aug 31, 2026 | 99.390 | 99.389 | 99.394 |
| Aug 28, 2026 | 99.362 | 99.359 | 99.390 |
| Aug 27, 2026 | 99.358 | 99.356 | 99.366 |
| Aug 26, 2026 | 99.347 | 99.346 | 99.356 |
| Aug 25, 2026 | 99.336 | 99.336 | 99.346 |
| Aug 24, 2026 | 99.325 | 99.323 | 99.336 |
| Aug 21, 2026 | 99.296 | 99.295 | 99.323 |
| Aug 20, 2026 | 99.283 | 99.282 | 99.295 |
| Aug 19, 2026 | 99.273 | 99.272 | 99.282 |
| Aug 18, 2026 | 99.263 | 99.262 | 99.272 |
| Aug 17, 2026 | 99.253 | 99.252 | 99.262 |
| Aug 14, 2026 | 99.222 | 99.221 | 99.252 |
| Aug 13, 2026 | 99.214 | 99.213 | 99.221 |
| Aug 12, 2026 | 99.201 | 99.201 | 99.211 |
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.
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 date | Issued | Type | Offered | Accepted | Bid to cover | High yield |
|---|---|---|---|---|---|---|
| Oct 28, 2025 | Oct 30, 2025 | New issue | $50.0bn | $52.8bn | 3.21x | – |
| Apr 27, 2026 | Apr 30, 2026 | Reopening | $77.0bn | $82.3bn | 2.95x | – |
| Jul 27, 2026 | Jul 30, 2026 | Reopening | $92.0bn | $98.5bn | 3.06x | – |