Government Raises Savings Bonds Rates: U.S. savings...

Government Raises Savings Bonds Rates: U.S. savings bonds will earn interest at a rate of 7.01% from May 1 through Oct. 31, up slightly from 6.98% during the previous six months, the Treasury Department said. Catalina V. Villalpando, treasurer of the United States, said the new rate “will keep savings bonds in the competitive range with other market-sensitive instruments during the coming months.” Savings bond interest rates are based on 85% of the yield on five-year Treasury securities, which have averaged 8.25%.