The U.S. Treasury Division in Washington.
Al Drago/Bloomberg by way of Getty Pictures
The Treasury bought $979 million of I bonds earlier than the deadline on Friday — almost as a lot in someday as in the course of the three years from 2018 to 2020, when buyers purchased barely greater than $1 billion, in accordance with Treasury Division figures shared Tuesday. Traders opened 95,482 new accounts on Friday, additionally a report.
Traders bought greater than $3 billion of I bonds final week and nearly $7 billion in October — which characterize weekly and month-to-month data, too, in accordance with preliminary estimates the Treasury Division offered Monday.
Traders opened 359,822 new accounts final week and 731,336 new accounts throughout October.
TreasuryDirect.gov — the web site the place buyers buy I bonds — crashed Friday as the volume swelled. TreasuryDirect grew to become “one of the visited web sites within the federal authorities” within the ultimate days of the 9.62% charge window, the Treasury Division stated Friday. It sometimes hosts only a few thousand concurrent guests.
I bond charges shift twice a yr primarily based on inflation.
There are two elements to the speed: a set charge, which stays the identical after buy, and a variable charge, which shifts twice per yr primarily based on inflation. The Treasury Division broadcasts new charges each Could and November.
Traders could lock within the new 6.89% charge for six months by buying I bonds any time earlier than the tip of April 2023.
You should purchase the belongings on-line by means of TreasuryDirect, restricted to $10,000 per calendar yr for people. You can too use your federal tax refund to purchase an additional $5,000 in paper I bonds.
The Treasury Division offered up to date gross sales numbers after this story was initially revealed.