Upcoming Series I Bonds Interest Rate Reset – Trick or Treat?
You have probably heard about this year’s hot investment, Treasury issued Series I savings bonds. We wrote an article in the spring about I bonds when the interest rate was set to 9.62%. The next interest rate reset will take place on November 1, based on the inflation rate of the previous six months. A recent Barron’s article estimates the new interest rate to be roughly 6%, which may leave some I bond savers with a sour taste.*
To be sure, a 6% yield on such a safe asset is still an incredibly attractive rate. However, for those of you looking to lock in a 9.62% interest rate for the next six months, make sure you purchase your I Bonds before the trick-or-treaters come to your doors on October 31.
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