The rate hike investors actually like crashes the TreasuryDirect website

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[Details here.]( Sponsored  --------------------------------------------------------------- Inflation hedge Series I savings bonds paying 9.62% unleashed a flood of buyers to the Treasury Department website on Wednesday, crashing the website ahead of a Friday deadline to receive the guaranteed 9.62% interest rate. What Happened: “Due to exceptionally high traffic, the TreasuryDirect website has experienced intermittent slowdowns today,” a Treasury Department spokesman said Wednesday. “We are in the process of adding to the system’s service capacity and taking other steps in the hopes of resolving the issues quickly.” Customers have been informed by the Treasury Department that they have until Friday at 11:59:59 p.m. Eastern time to complete their transaction and lock in the rate. More than 3.7 million new accounts were made in a single year, surpassing the 2.4 million accounts made in the previous 10 years put together, according to a Wall Street Journal report. The website has previously crashed due to the announcement of high rates. Buyers swarmed to the website earlier in May when a 9.62% rate was announced. Why It Matters: Series I Savings Bond buyers may purchase up to $10,000 in I bonds each year. There are ways to boost that sum, such as purchasing an additional $5,000 worth of paper I bonds with your federal tax refund. If you intend to buy, exercise caution to ensure that you make the appropriate choice because overage purchases will result in refunds, which could take up to 16 weeks to process. The information provided is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. The opinions are from 3rd parties, claims have not been independently verified by us, and we have not been compensated in any way to review the companies or symbols mentioned. 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