Savings Bond Sales Set Record

Savings bonds held by 30 million Americans hit a record $100 billion in November as sales climbed by 11.5% over the pace in October, the month of “Black Monday’s” stock market crash, the government reported today.

The Treasury Department said sales totaled $543 million last month, up substantially from October when $487 million in new bonds were sold. A total of $378 million in bonds were redeemed last month. The current interest rate is 7.17%, effective through next April.