Suzan DelBene is Investing Millions in U.S. Treasury Bills
With U.S. bond yields trading near 15-year highs, it appears that buying government-backed securities is popular once again.
It was reported recently that the demand for U.S. Treasuries is so high that TreasuryDirect.gov, the website to buy Treasury bonds, crashed in October. Given the increasingly difficult macro environment, investors see government-backed securities as low-risk options to park their cash.
It also appears that Congresswoman Suzan DelBene, a Democrat representing Washington's 1st congressional district since 2012, is buying U.S. Treasury Bills. The Representative disclosed that she bought Treasury Bills on two occasions earlier this month.
On November 09, Congresswoman DelBene invested between $250,000 to $500,000 in zero coupon bonds that are due on February 21, 2023. A day later, Rep. DelBene spent between $1 million - $5 million to acquire zero coupon bills that are maturing on May 11, 2023.
This type of bond does not pay interest during their life, instead, investors buy them at a discount from their face value. For example, an investor may pay $10,000 to acquire a zero coupon bond with a face value of $20,000.
Congresswoman DelBene, a member of the House Ways & Means committee, most often trades Tech stocks, particularly Microsoft (MSFT:US).
