BANKING & FINANCE

From Times Staff and Wire Reports

Savings Bond Sales Set a Record: Sales of U.S. Savings Bonds in September totaled $2.02 billion, the largest amount ever sold in that month, the Treasury Department said. The previous record for September was $1.10 billion in 1986. Sales for the fiscal year ended Sept. 30 were $13.59 billion, 48% more than in fiscal 1991 and the highest since the $14.89 billion of fiscal 1945. The value of savings bonds held totaled $150.3 billion, up from $135.4 billion a year ago. The sales pace reflected investor interest in the relatively high interest rates savings bonds are offering compared to other investments.

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