Bond Investors Face Delays Moving Their Money From TreasuryDirect

WSJ Your Money Briefing

The Wall Street Journal

Business News, News

4.1 • 1.7K Ratings

🗓️ 17 October 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

A rush of demand on the Treasury Department's antiquated website for buying government debt means some investors could be waiting up to 12 months to shift their money to a brokerage account. Wall Street Journal personal finance reporter Imani Moise joins host J.R. Whalen to discuss how investors are dealing with the delay. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:14.4	slash Wall Street. Here's your money briefing for Thursday October 17th. I'm
0:21.7	J. R. Whelan for the Wall Street Journal.
0:27.0	Over the past couple of years, Americans rushed to the Treasury Department's Treasury Direct
0:31.3	website to buy inflation- adjusted savings bonds that were paying
0:35.2	nearly 10% interest.
0:37.6	Now, as many of them want to move their investments out and into their brokerage account,
0:42.0	they're stuck, having to wait as long as a year to do it.
0:45.8	I spoke with one investor from Maryland who had purchased a 20-year bond and only after he submitted that transfer request did he learn about
0:56.7	this one-year delay and he was distraught.
0:59.0	He said to me that if he expected his money to be locked up for up to a year, he would have just bought a
1:03.4	CD.
1:04.4	We'll talk with our personal finance reporter, Amani Mois, about what you can do about the delays
1:09.3	in alternative ways of buying treasuries.
1:11.7	That's after the break.
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