The government I-Bond was recently covered here on Money Matters in an article I penned called “A gift from the U.S. government” dated May 9, 2022. This adjustable but 100% guaranteed U.S. bond at that time featured an interest rate of about 9.62% annualized, which needless to say, was one hell of a deal. Investors piled into the bond and indeed, I received a ton of emails on the article thanking me for bringing it to light.
Since the bond adjusts its payout rate every six months based on a two tier calculation, the most recent adjustment brought the current issue’s interest rate down to 6.89%. This new coupon rate took effect Oct 31.