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Prepared by Glenn S. Daily (gdaily@glenndaily.com,
212-426-6265)
Copyright ©2001-2004 by Glenndaily.com Information Services, Inc.
Supplement to "I Bonds: A no-brainer alternative to fixed annuities?"
Updated February 1, 2004
I Bond and TIPS information
| Series I Savings Bonds: Interest rate and sales history | |||||||||||||
| 11/03-4/04 | 5/03-10/03 | 11/02-4/03 | 5/02-10/02 | 11/01-4/02 | 5/01-10/01 | 11/00-4/01 | 5/00-10/00 |
11/99-4/00 |
5/99-10/99 |
11/98-4/99 |
9/98-10/98 | ||
| Nominal annual fixed rate | 1.10% | 1.10% | 1.60% | 2.00% | 2.00% | 3.00% | 3.40% | 3.60% |
3.40% |
3.30% |
3.30% |
3.40% | |
| Composite rate at issue | |||||||||||||
| nominal | 2.19% | 4.66% | 4.08% | 2.57% | 4.40% | 5.92% | 6.49% | 7.49% |
6.98% |
5.05% |
5.05% |
||
| effective | 2.20% | 4.71% | 4.12% | 2.58% | 4.45% | 6.01% | 6.60% | 7.63% |
7.10% |
5.11% |
5.11% |
||
| Semiannual inflation rate | |||||||||||||
11/98-4/99 |
0.86% |
||||||||||||
5/99-10/99 |
0.86% |
0.86% |
|||||||||||
11/99-4/00 |
1.76% |
1.76% |
1.76% |
||||||||||
5/00-10/00 |
1.91% |
1.91% |
1.91% |
1.91% |
|||||||||
| 11/00-4/01 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% | ||||||||
| 5/01-10/01 | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% | |||||||
| 11/01-4/02 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | ||||||
| 5/02-10/02 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% | |||||
| 11/02-4/03 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% | ||||
| 5/03-10/03 | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | |||
| 11/03-4/04 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% | ||
| Semiannual earnings rate | |||||||||||||
11/98-4/99 |
2.52% | ||||||||||||
5/99-10/99 |
2.52% | 2.52% | |||||||||||
11/99-4/00 |
3.49% | 3.44% | 3.44% | ||||||||||
5/00-10/00 |
3.74% | 3.64% | 3.59% | 3.59% | |||||||||
| 11/00-4/01 | 3.25% | 3.35% | 3.25% | 3.20% | 3.20% | ||||||||
| 5/01-10/01 | 2.96% | 3.16% | 3.27% | 3.16% | 3.11% | 3.11% | |||||||
| 11/01-4/02 | 2.20% | 2.71% | 2.91% | 3.01% | 2.91% | 2.86% | 2.86% | ||||||
| 5/02-10/02 | 1.28% | 1.28% | 1.78% | 1.98% | 2.09% | 1.98% | 1.93% | 1.93% | |||||
| 11/02-4/03 | 2.04% | 2.24% | 2.24% | 2.75% | 2.95% | 3.05% | 2.95% | 2.90% | 2.90% | ||||
| 5/03-10/03 | 2.33% | 2.58% | 2.79% | 2.79% | 3.30% | 3.50% | 3.60% | 3.50% | 3.45% | 3.45% | |||
| 11/03-4/04 | 1.09% | 1.09% | 1.34% | 1.55% | 1.55% | 2.05% | 2.25% | 2.35% | 2.25% | 2.20% | 2.20% | ||
Six-month sales (in $millions) |
6,002 | 3,565 | 1,354 | 4,975 | 2,502 | 1,647 | 1,306 | 600 | 213 | 256 | |||
Source: Monthly Statement of the Public Debt of the United States, Bureau of the Public Debt |
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| For comparison: I Bond nominal fixed rate | 1.10% | 1.10% | 1.60% | 2.00% | 2.00% | 3.00% | 3.40% | 3.60% | 3.40% | 3.30% | 3.30% | 3.40% | |||
| Treasury Inflation Protection Securities (TIPS) | |||||||||||||||
| Issue sizea | Real yield-to-maturity at: | ||||||||||||||
Maturity |
Coupon |
($billions) |
CUSIP | 11/1/03 | 5/1/03 | 11/1/02 | 5/1/02 | 11/1/01 | 5/1/01 |
11/1/00 |
5/1/00 |
11/1/99 |
5/1/99 |
11/1/98 |
9/1/98 |
(M)7/15/02 |
3.625% |
16.817 |
9128273A8 | 0.96% | 1.88% | 3.47% |
3.74% |
3.87% |
3.70% |
3.61% |
3.75% |
||||
1/15/07 |
3.375% |
15.758 |
9128272M3 | 0.52% | 0.94% | 1.53% | 2.48% | 2.61% | 3.02% | 3.84% |
4.00% |
4.13% |
3.91% |
3.60% |
3.84% |
1/15/08 |
3.625% |
16.812 |
9128273T7 | 0.94% | 1.35% | 1.91% | 2.73% | 2.78% | 3.15% | 3.86% |
4.01% |
4.13% |
3.91% |
3.63% |
3.80% |
1/15/09 |
3.875% |
15.902 |
9128274Y5 | 1.27% | 1.66% | 2.08% | 2.89% | 2.89% | 3.24% | 3.86% |
4.02% |
4.12% |
3.88% |
||
1/15/10 |
4.250% |
11.321 |
9128275W8 | 1.48% | 1.81% | 2.29% | 3.01% | 2.94% | 3.28% | 3.85% |
3.97% |
||||
1/15/11 |
3.500% | 11.001 | 9128276R8 | 1.67% | 1.99% | 2.32% | 3.06% | 2.94% | 3.29% | ||||||
| 1/15/12 | 3.375% | 6.004 | 9128277J5 | 1.82% | 2.06% | 2.38% | 3.05% | ||||||||
7/15/12 |
3.000% |
23.018 |
912828AF7 |
1.87% | 2.10% | 2.39% | |||||||||
7/15/13 |
1.875% | 20.008 | 912828BD1 | 1.96% | |||||||||||
| 1/15/14 | 2.000% | 12.000 | 912828BW9 | ||||||||||||
4/15/28 |
3.625% |
16.808 |
912810FD5 | 2.50% | 2.74% | 3.02% | 3.35% | 3.13% | 3.51% | 3.85% |
3.87% |
4.13% |
3.87% |
3.62% |
3.74% |
4/15/29 |
3.875% |
19.722 |
912810FH6 | 2.50% | 2.73% | 3.02% | 3.35% | 3.12% | 3.50% | 3.84% |
3.85% |
4.13% |
3.87% |
||
| 4/15/32 | 3.375% | 5.012 | 912810FQ6 | 2.40% | 2.64% | 2.94% | 3.25% | 3.08% | |||||||
| a Does not include subsequent inflation adjustments. (M) = Issue has matured. Source: Bloomberg, Bureau of the Public Debt |
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