Series I outsells Series EE by more than 2 to 1 in May
Thursday, June 23rd, 2005
Categorized as: Savings Bond investment rate
Investors purchased $484.8 million of Series I Savings Bonds in May, compared to $216.3 million of Series EE. The Series I percentage of the total, at over 69%, hasn’t been this high since November 2003.
It appears that – as we predicted in our last sales report – Series I investors were waiting during April because they expected higher rates after the Treasury’s May 1 rate announcement. And they got them.
Total Savings Bond sales in May were $701.1 million. The only month this fiscal year (since November) with higher total sales was January.
However, so far this fiscal year Savings Bonds have sold at an annual rate of $6.726 billion, which will create the lowest annual rate since 2001 if sales continue at this pace for the rest of the fiscal year.
If you have a copy of my book, you can see an online updated monthly sales chart at Book Note 2-1.