I Bond April Rate Signal
A recent bond analysis says a new I Bond purchased in April would likely carry a composite rate around 4.15%, combining a fixed component with the current inflation‑linked adjustment. The piece flags two uncertainties: a possible Treasury formula change at the May reset and whether inflation falls enough by autumn to lower the variable rate. (tipswatch.com)
A buyer who opens a new Series I savings bond in April would lock in the current 0.90% fixed rate and then move to a higher inflation adjustment in October. (treasurydirect.gov) TreasuryDirect says I bonds issued from November 1, 2025, through April 30, 2026, carry a 4.03% composite rate for their first six months, built from a 0.90% fixed rate and a 3.12% annualized inflation rate. The fixed rate stays with the bond for up to 30 years, while the inflation piece resets every six months from the purchase month. (treasurydirect.gov) The next inflation reset is already largely visible. Tipswatch calculated that the non-seasonally adjusted Consumer Price Index rose 1.67% from October 2025 through March 2026, which points to a new annualized inflation rate of 3.34% starting with the May 1, 2026 reset. (tipswatch.com) I bonds work like a savings bond with two moving parts: a permanent base rate set by the Treasury and an inflation add-on tied to the Consumer Price Index for All Urban Consumers. TreasuryDirect says the composite rate formula adds the fixed rate, twice the six-month inflation rate, and a small interaction term between the two. (treasurydirect.gov) That structure turns April into a timing question. An April buyer keeps today’s 0.90% fixed rate if it falls on May 1, but gives up the chance to get a higher fixed rate if the Treasury raises it at the next reset. (treasurydirect.gov) The inflation side is also split across two periods. A bond bought in April would earn the current 4.03% composite rate through September and then switch to the May reset in October, which Tipswatch projects at about 4.27% if the fixed rate stays at 0.90% and the inflation rate moves to 3.34%. (tipswatch.com) March inflation is the latest hard data in that May calculation. The Bureau of Labor Statistics said on April 10 that the Consumer Price Index for All Urban Consumers rose 0.9% in March 2026 and was up 3.3% from a year earlier. (bls.gov) The next official I bond table is due May 1, 2026. Treasury Fiscal Data says the current rates dataset was last updated on November 3, 2025, and lists new data expected on May 1, 2026, when the Treasury will publish the next fixed rate, inflation rate, and composite rate. (fiscaldata.treasury.gov) For savers deciding whether to buy now or wait a few weeks, the missing number is the May fixed rate. Until the Treasury posts that reset, April remains a tradeoff between locking in 0.90% for life and waiting to see if May offers more. (fiscaldata.treasury.gov)
