Bought EE Savings bonds today. Plan to hold 20 years, at which time they are guaranteed to double.
That's a yield to maturity of 3.53%. Not bad compared to the 2.26% yield on today's 20-year treasury bond.
2^(1/20) = 1.0353
I know it must seem silly to lock in such a low yield. Can't argue with you. It also felt silly buying EE Savings bonds in October of 2010. Not so silly in hindsight though. Only 14 more years until they mature. Still earning 3.53% per year. Still not regretting the purchase. Go figure.
I guess you could say that I'm still not a believer that long-term savers will soon be rewarded, especially those who have been sitting in short-term treasury bills and CDs for the last 8 years patiently waiting for the 1980s and 1990s to magically reappear. For what it is worth, good luck on that plan. Sigh.
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