The U.S. Treasury Division in Washington.
Al Drago/Bloomberg through Getty Photographs
The Treasury offered $979 million of I bonds earlier than the deadline on Friday — almost as a lot in at some point as throughout the three years from 2018 to 2020, when buyers purchased barely greater than $1 billion, in accordance with Treasury Division figures shared Tuesday. Buyers opened 95,482 new accounts on Friday, additionally a document.
Buyers bought greater than $3 billion of I bonds final week and nearly $7 billion in October — which signify weekly and month-to-month information, too, in accordance with preliminary estimates the Treasury Division offered on Monday.
Buyers 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 on Friday as the volume swelled. TreasuryDirect turned “some of the visited web sites within the federal authorities” within the ultimate days of the 9.62% price window, the Treasury Division mentioned Friday. It usually hosts just some thousand concurrent guests.
I bond charges shift twice a yr primarily based on inflation.
There are two elements to the speed: a set price, which stays the identical after buy, and a variable price, which shifts twice per yr primarily based on inflation. The Treasury Division declares new charges each Might and November.
Buyers could lock within the new 6.89% price for six months by buying I bonds any time earlier than the tip of April 2023.
You should buy the belongings on-line by means of TreasuryDirect, restricted to $10,000 per calendar yr for people. It’s also possible to 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 the story was printed.