By Staff Reporters
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DEFINITION: https://www.treasurydirect.gov/savings-bonds/i-bonds/
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The rate for I bonds, an asset that’s tied to the rate of inflation, was lowered to 6.89% yesterday from its record high of 9.62%. But in the final days of the previous rate, investors hoarded I bonds like crazy.
Now, on Friday, the Treasury sold $979 million of I bonds, nearly as much as the entire amount sold in the three years from 2018 to 2020, per CNBC. The investors also crashed the website.
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Filed under: "Ask-an-Advisor", Glossary Terms, Investing, Taxation | Tagged: bonds, I bonds, I bonds down, inflation, IRS |
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