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- Americans Stampeded Into TreasuryDirect Last Year, Opening Almost Three Million New Accounts to Capture Rising Yields On Savings Bonds and Treasurys
Americans Stampeded Into TreasuryDirect Last Year, Opening Almost Three Million New Accounts to Capture Rising Yields On Savings Bonds and Treasurys
by Pam Martens and Russ Martens Wall Street on Parade
Last year, newspapers across America were buzzing with the enticing yields available on U.S. savings bonds, Treasury bills and Treasury notes. It’s now apparent that millions of Americans got the message to move out of the meager yields being offered on savings accounts and money market at their bank and move to the free accounts and government-backed instruments offered by TreasuryDirect.gov. Investors, small and large, can buy directly from the U.S. Treasury at this site.
According to data provided by TreasuryDirect, new account openings in 2022 surged to a total of 2,956,790 from a total of 460,057 in 2021 – an increase of 543 percent in one year. Even more impressive, the total par value of the savings bonds and Treasury securities purchased in those accounts went from $9,711,113,646 in 2021 to $87,775,900,168 in 2022 – an 804 percent increase. (See chart below using data from TreasuryDirect.)