Treasury bill

912797TC1

Original term
52-Week
Maturity
Dec 24, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 9, 2026
Analyzed through
Sep 9, 2026

Statement of August 31, 2026

Amount outstanding
$134.57bn
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
3.917%
Modified duration
0.284 yr
DV01
0.0028
Convexity
0.162
Dirty price
98.886

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 0.284 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 rich to the curve on that day, 0.07 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, 177 observations

3.4%3.5%3.6%3.7%3.8%3.9%4.0%4.1%Dec 26, 2025Sep 9, 2026Dec 26, 2025Yield to maturity3.484%Dec 29, 2025Yield to maturity3.484%Dec 30, 2025Yield to maturity3.473%Dec 31, 2025Yield to maturity3.483%Jan 2, 2026Yield to maturity3.472%Jan 5, 2026Yield to maturity3.472%Jan 6, 2026Yield to maturity3.482%Jan 7, 2026Yield to maturity3.482%Jan 8, 2026Yield to maturity3.482%Jan 9, 2026Yield to maturity3.513%Jan 12, 2026Yield to maturity3.523%Jan 13, 2026Yield to maturity3.512%Jan 14, 2026Yield to maturity3.501%Jan 15, 2026Yield to maturity3.544%Jan 16, 2026Yield to maturity3.553%Jan 20, 2026Yield to maturity3.532%Jan 21, 2026Yield to maturity3.542%Jan 22, 2026Yield to maturity3.542%Jan 23, 2026Yield to maturity3.541%Jan 26, 2026Yield to maturity3.531%Jan 27, 2026Yield to maturity3.530%Jan 28, 2026Yield to maturity3.541%Jan 29, 2026Yield to maturity3.519%Jan 30, 2026Yield to maturity3.508%Feb 2, 2026Yield to maturity3.518%Feb 3, 2026Yield to maturity3.529%Feb 4, 2026Yield to maturity3.528%Feb 5, 2026Yield to maturity3.475%Feb 6, 2026Yield to maturity3.496%Feb 9, 2026Yield to maturity3.474%Feb 10, 2026Yield to maturity3.453%Feb 11, 2026Yield to maturity3.506%Feb 12, 2026Yield to maturity3.495%Feb 13, 2026Yield to maturity3.473%Feb 17, 2026Yield to maturity3.515%Feb 18, 2026Yield to maturity3.515%Feb 19, 2026Yield to maturity3.525%Feb 20, 2026Yield to maturity3.535%Feb 23, 2026Yield to maturity3.535%Feb 24, 2026Yield to maturity3.534%Feb 25, 2026Yield to maturity3.545%Feb 26, 2026Yield to maturity3.534%Feb 27, 2026Yield to maturity3.512%Mar 2, 2026Yield to maturity3.565%Mar 3, 2026Yield to maturity3.575%Mar 4, 2026Yield to maturity3.586%Mar 5, 2026Yield to maturity3.596%Mar 6, 2026Yield to maturity3.564%Mar 9, 2026Yield to maturity3.585%Mar 10, 2026Yield to maturity3.574%Mar 11, 2026Yield to maturity3.595%Mar 12, 2026Yield to maturity3.637%Mar 13, 2026Yield to maturity3.647%Mar 16, 2026Yield to maturity3.636%Mar 17, 2026Yield to maturity3.625%Mar 18, 2026Yield to maturity3.678%Mar 19, 2026Yield to maturity3.699%Mar 20, 2026Yield to maturity3.741%Mar 23, 2026Yield to maturity3.719%Mar 24, 2026Yield to maturity3.761%Mar 25, 2026Yield to maturity3.729%Mar 26, 2026Yield to maturity3.761%Mar 27, 2026Yield to maturity3.707%Mar 30, 2026Yield to maturity3.686%Mar 31, 2026Yield to maturity3.644%Apr 1, 2026Yield to maturity3.654%Apr 2, 2026Yield to maturity3.664%Apr 3, 2026Yield to maturity3.717%Apr 6, 2026Yield to maturity3.695%Apr 7, 2026Yield to maturity3.663%Apr 8, 2026Yield to maturity3.674%Apr 9, 2026Yield to maturity3.663%Apr 10, 2026Yield to maturity3.684%Apr 13, 2026Yield to maturity3.673%Apr 14, 2026Yield to maturity3.662%Apr 15, 2026Yield to maturity3.651%Apr 16, 2026Yield to maturity3.641%Apr 17, 2026Yield to maturity3.619%Apr 20, 2026Yield to maturity3.619%Apr 21, 2026Yield to maturity3.650%Apr 22, 2026Yield to maturity3.650%Apr 23, 2026Yield to maturity3.661%Apr 24, 2026Yield to maturity3.649%Apr 27, 2026Yield to maturity3.639%Apr 28, 2026Yield to maturity3.660%Apr 29, 2026Yield to maturity3.691%Apr 30, 2026Yield to maturity3.670%May 1, 2026Yield to maturity3.680%May 4, 2026Yield to maturity3.680%May 5, 2026Yield to maturity3.669%May 6, 2026Yield to maturity3.648%May 7, 2026Yield to maturity3.669%May 8, 2026Yield to maturity3.658%May 11, 2026Yield to maturity3.700%May 12, 2026Yield to maturity3.689%May 13, 2026Yield to maturity3.700%May 14, 2026Yield to maturity3.679%May 15, 2026Yield to maturity3.710%May 18, 2026Yield to maturity3.699%May 19, 2026Yield to maturity3.688%May 20, 2026Yield to maturity3.678%May 21, 2026Yield to maturity3.688%May 22, 2026Yield to maturity3.709%May 26, 2026Yield to maturity3.709%May 27, 2026Yield to maturity3.709%May 28, 2026Yield to maturity3.709%May 29, 2026Yield to maturity3.719%Jun 1, 2026Yield to maturity3.729%Jun 2, 2026Yield to maturity3.740%Jun 3, 2026Yield to maturity3.740%Jun 4, 2026Yield to maturity3.740%Jun 5, 2026Yield to maturity3.782%Jun 8, 2026Yield to maturity3.792%Jun 9, 2026Yield to maturity3.781%Jun 10, 2026Yield to maturity3.792%Jun 11, 2026Yield to maturity3.781%Jun 12, 2026Yield to maturity3.792%Jun 15, 2026Yield to maturity3.781%Jun 16, 2026Yield to maturity3.792%Jun 17, 2026Yield to maturity3.876%Jun 18, 2026Yield to maturity3.907%Jun 22, 2026Yield to maturity3.971%Jun 23, 2026Yield to maturity3.939%Jun 24, 2026Yield to maturity3.939%Jun 25, 2026Yield to maturity3.938%Jun 26, 2026Yield to maturity3.927%Jun 29, 2026Yield to maturity3.958%Jun 30, 2026Yield to maturity3.968%Jul 1, 2026Yield to maturity3.957%Jul 2, 2026Yield to maturity3.934%Jul 6, 2026Yield to maturity3.913%Jul 7, 2026Yield to maturity3.912%Jul 8, 2026Yield to maturity3.922%Jul 9, 2026Yield to maturity3.890%Jul 10, 2026Yield to maturity3.921%Jul 13, 2026Yield to maturity3.962%Jul 14, 2026Yield to maturity3.888%Jul 15, 2026Yield to maturity3.867%Jul 16, 2026Yield to maturity3.877%Jul 17, 2026Yield to maturity3.886%Jul 20, 2026Yield to maturity3.907%Jul 21, 2026Yield to maturity3.948%Jul 22, 2026Yield to maturity3.969%Jul 23, 2026Yield to maturity4.021%Jul 24, 2026Yield to maturity4.019%Jul 27, 2026Yield to maturity4.030%Jul 28, 2026Yield to maturity3.998%Jul 29, 2026Yield to maturity3.914%Jul 30, 2026Yield to maturity3.913%Jul 31, 2026Yield to maturity3.943%Aug 3, 2026Yield to maturity3.932%Aug 4, 2026Yield to maturity3.911%Aug 5, 2026Yield to maturity3.900%Aug 6, 2026Yield to maturity3.921%Aug 7, 2026Yield to maturity3.888%Aug 10, 2026Yield to maturity3.898%Aug 11, 2026Yield to maturity3.898%Aug 12, 2026Yield to maturity3.866%Aug 13, 2026Yield to maturity3.855%Aug 14, 2026Yield to maturity3.864%Aug 17, 2026Yield to maturity3.853%Aug 18, 2026Yield to maturity3.853%Aug 19, 2026Yield to maturity3.853%Aug 20, 2026Yield to maturity3.852%Aug 21, 2026Yield to maturity3.861%Aug 24, 2026Yield to maturity3.851%Aug 25, 2026Yield to maturity3.850%Aug 26, 2026Yield to maturity3.839%Aug 27, 2026Yield to maturity3.839%Aug 28, 2026Yield to maturity3.890%Aug 31, 2026Yield to maturity3.900%Sep 1, 2026Yield to maturity3.920%Sep 2, 2026Yield to maturity3.909%Sep 3, 2026Yield to maturity3.888%Sep 4, 2026Yield to maturity3.897%Sep 8, 2026Yield to maturity3.886%Sep 9, 2026Yield to maturity3.917%

Price history

177 trading days to Sep 9, 2026

96.5097.0097.5098.0098.5099.00Dec 26, 2025Sep 9, 2026Dec 26, 2025Close96.650Dec 29, 2025Close96.659Dec 30, 2025Close96.679Dec 31, 2025Close96.687Jan 2, 2026Close96.725Jan 5, 2026Close96.734Jan 6, 2026Close96.734Jan 7, 2026Close96.743Jan 8, 2026Close96.752Jan 9, 2026Close96.751Jan 12, 2026Close96.751Jan 13, 2026Close96.770Jan 14, 2026Close96.789Jan 15, 2026Close96.760Jan 16, 2026Close96.789Jan 20, 2026Close96.817Jan 21, 2026Close96.817Jan 22, 2026Close96.827Jan 23, 2026Close96.855Jan 26, 2026Close96.874Jan 27, 2026Close96.883Jan 28, 2026Close96.884Jan 29, 2026Close96.911Jan 30, 2026Close96.949Feb 2, 2026Close96.949Feb 3, 2026Close96.949Feb 4, 2026Close96.959Feb 5, 2026Close97.013Feb 6, 2026Close97.023Feb 9, 2026Close97.050Feb 10, 2026Close97.077Feb 11, 2026Close97.043Feb 12, 2026Close97.061Feb 13, 2026Close97.115Feb 17, 2026Close97.090Feb 18, 2026Close97.100Feb 19, 2026Close97.101Feb 20, 2026Close97.120Feb 23, 2026Close97.130Feb 24, 2026Close97.139Feb 25, 2026Close97.141Feb 26, 2026Close97.158Feb 27, 2026Close97.203Mar 2, 2026Close97.172Mar 3, 2026Close97.173Mar 4, 2026Close97.174Mar 5, 2026Close97.176Mar 6, 2026Close97.229Mar 9, 2026Close97.222Mar 10, 2026Close97.240Mar 11, 2026Close97.234Mar 12, 2026Close97.212Mar 13, 2026Close97.233Mar 16, 2026Close97.251Mar 17, 2026Close97.268Mar 18, 2026Close97.239Mar 19, 2026Close97.233Mar 20, 2026Close97.232Mar 23, 2026Close97.258Mar 24, 2026Close97.237Mar 25, 2026Close97.270Mar 26, 2026Close97.257Mar 27, 2026Close97.325Mar 30, 2026Close97.350Mar 31, 2026Close97.389Apr 1, 2026Close97.392Apr 2, 2026Close97.394Apr 3, 2026Close97.387Apr 6, 2026Close97.412Apr 7, 2026Close97.443Apr 8, 2026Close97.446Apr 9, 2026Close97.463Apr 10, 2026Close97.478Apr 13, 2026Close97.495Apr 14, 2026Close97.512Apr 15, 2026Close97.529Apr 16, 2026Close97.546Apr 17, 2026Close97.589Apr 20, 2026Close97.599Apr 21, 2026Close97.588Apr 22, 2026Close97.598Apr 23, 2026Close97.601Apr 24, 2026Close97.637Apr 27, 2026Close97.653Apr 28, 2026Close97.650Apr 29, 2026Close97.640Apr 30, 2026Close97.663May 1, 2026Close97.686May 4, 2026Close97.696May 5, 2026Close97.712May 6, 2026Close97.735May 7, 2026Close97.732May 8, 2026Close97.768May 11, 2026Close97.753May 12, 2026Close97.769May 13, 2026Close97.772May 14, 2026Close97.795May 15, 2026Close97.806May 18, 2026Close97.822May 19, 2026Close97.838May 20, 2026Close97.854May 21, 2026Close97.858May 22, 2026Close97.886May 26, 2026Close97.896May 27, 2026Close97.906May 28, 2026Close97.916May 29, 2026Close97.940Jun 1, 2026Close97.944Jun 2, 2026Close97.949Jun 3, 2026Close97.959Jun 4, 2026Close97.969Jun 5, 2026Close97.977Jun 8, 2026Close97.981Jun 9, 2026Close97.997Jun 10, 2026Close98.002Jun 11, 2026Close98.017Jun 12, 2026Close98.043Jun 15, 2026Close98.058Jun 16, 2026Close98.063Jun 17, 2026Close98.031Jun 18, 2026Close98.058Jun 22, 2026Close98.037Jun 23, 2026Close98.063Jun 24, 2026Close98.074Jun 25, 2026Close98.084Jun 26, 2026Close98.121Jun 29, 2026Close98.117Jun 30, 2026Close98.123Jul 1, 2026Close98.138Jul 2, 2026Close98.190Jul 6, 2026Close98.210Jul 7, 2026Close98.221Jul 8, 2026Close98.227Jul 9, 2026Close98.251Jul 10, 2026Close98.269Jul 13, 2026Close98.261Jul 14, 2026Close98.303Jul 15, 2026Close98.323Jul 16, 2026Close98.329Jul 17, 2026Close98.356Jul 20, 2026Close98.358Jul 21, 2026Close98.351Jul 22, 2026Close98.353Jul 23, 2026Close98.343Jul 24, 2026Close98.375Jul 27, 2026Close98.382Jul 28, 2026Close98.405Jul 29, 2026Close98.448Jul 30, 2026Close98.459Jul 31, 2026Close98.479Aug 3, 2026Close98.493Aug 4, 2026Close98.512Aug 5, 2026Close98.526Aug 6, 2026Close98.529Aug 7, 2026Close98.572Aug 10, 2026Close98.579Aug 11, 2026Close98.589Aug 12, 2026Close98.611Aug 13, 2026Close98.625Aug 14, 2026Close98.653Aug 17, 2026Close98.667Aug 18, 2026Close98.677Aug 19, 2026Close98.688Aug 20, 2026Close98.698Aug 21, 2026Close98.726Aug 24, 2026Close98.740Aug 25, 2026Close98.750Aug 26, 2026Close98.764Aug 27, 2026Close98.774Aug 28, 2026Close98.789Aug 31, 2026Close98.797Sep 1, 2026Close98.801Sep 2, 2026Close98.815Sep 3, 2026Close98.831Sep 4, 2026Close98.871Sep 8, 2026Close98.884Sep 9, 2026Close98.886
The most recent 20 trading days of prices for 912797TC1.
DateBidOfferClose
Sep 9, 202698.88198.87898.886
Sep 8, 202698.87498.87198.884
Sep 4, 202698.82898.82598.871
Sep 3, 202698.82198.81898.831
Sep 2, 202698.80498.80198.815
Sep 1, 202698.79598.79398.801
Aug 31, 202698.78998.78698.797
Aug 28, 202698.76198.75498.789
Aug 27, 202698.76598.76498.774
Aug 26, 202698.75398.75098.764
Aug 25, 202698.74398.74098.750
Aug 24, 202698.72698.72298.740
Aug 21, 202698.69398.69198.726
Aug 20, 202698.68998.68898.698
Aug 19, 202698.68198.67798.688
Aug 18, 202698.67498.67098.677
Aug 17, 202698.65898.65698.667
Aug 14, 202698.62998.62598.653
Aug 13, 202698.61598.61198.625
Aug 12, 202698.60098.59798.611

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.

2 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 history for 912797TC1.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
Dec 23, 2025Dec 26, 2025New issue$50.0bn$52.3bn3.74x–
Jun 22, 2026Jun 25, 2026Reopening$77.0bn$82.3bn2.51x–

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.