Treasury bill rates
Treasury bill yields from one month to one year on September 28, 2026, from the Treasury's daily par yield curve.
| Maturity | Latest | Day's change | A month earlier | A year earlier |
|---|---|---|---|---|
| 1-month | 4.04% | 0 bp | 3.84% | 4.22% |
| 2-month | 4.20% | 0 bp | 3.86% | 4.17% |
| 13-week | 4.28% | +4 bp | 3.90% | 4.02% |
| 4-month | 4.33% | +1 bp | 3.94% | 4.00% |
| 6-month | 4.41% | +8 bp | 4.02% | 3.83% |
| 1-year | 4.59% | +9 bp | 4.15% | 3.67% |
What it is
Treasury bills are the government's shortest debt, maturing in a year or less. They are sold at a discount and repaid at face value; the difference is the interest. The Treasury auctions them in 4-, 6-, 8-, 13-, 17-, 26- and 52-week maturities.
The rates below are the Treasury's par yields for those maturities — the bond-equivalent yields on its daily yield curve — not the discount rates quoted at auction. They sit close to the Federal Reserve's policy rate.
What moves it
- The Fed's policy rate, above all: bills are the part of the curve that tracks it most closely.
- How many bills the Treasury is issuing, and demand from money-market funds, which hold a great many of them.
Source: U.S. Department of the Treasury, Daily Treasury Par Yield Curve Rates. Treasury's table. The Treasury publishes these once a day, after the market closes; a basis point (bp) is a hundredth of a percentage point.
More Treasury yields
Questions
What is the 3-month T-bill rate today?
4.28% on September 28, 2026, as the Treasury's par yield for a three-month maturity.
Are these the auction discount rates?
No. They are the bond-equivalent par yields on the Treasury's daily yield curve for each bill maturity. Auction results are published separately by TreasuryDirect, as discount rates and investment rates.
How long do Treasury bills last?
A year or less. The Treasury auctions bills maturing in 4, 6, 8, 13, 17, 26 and 52 weeks.
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