Best CD, MM Rates & Bank Special Deals Thread 2023 - Please post updates here

[Freedom56]

The next batch of CDs will be priced based on more recent treasury yields. The next major event to watch for is the debt ceiling deadline.

[copyright1997reloaded]

Quote:

Originally Posted by erkevin Myself, Car-Guy, and probably a few others would like to make a polite request for all of you to quit buying all of the multi-year, non-callable CDs and leave some for us (pretty please!).

Done.

Because I have no more money to invest.

Now I have to behave myself and wait for a bunch of 6-month T-Bill purchases to mature.

[pb4uski]

Quote:

Originally Posted by erkevin Myself, Car-Guy, and probably a few others would like to make a polite request for all of you to quit buying all of the multi-year, non-callable, 5+% CDs and leave some for us (pretty please!).

No problem, I'm pretty much out of dry powder anyway. I even looked at all my holdings towards selling them and reinvesting the proceeds at 5%+... I did sell some GSE bonds that were ~4.5% but those are all sold. Most of my remaining positions have a sell YTM of 4.8% or better so I'm leaving them be.

[disneysteve]

Quote:

Originally Posted by erkevin Myself, Car-Guy, and probably a few others would like to make a polite request for all of you to quit buying all of the multi-year, non-callable, 5+% CDs and leave some for us (pretty please!).

I wonder how much the users here have collectively snatched up. It’s got to be millions of dollars worth all together.

[ShokWaveRider]

Tempted with the 2 year 5.25% on Schwab. A- Bank Rating. ........

Temptation took over, purchased $200k 2year CD at 5.25% Morgan Stanley PVT.

[dmpi]

Quote:

Originally Posted by disneysteve I wonder how much the users here have collectively snatched up. It’s got to be millions of dollars worth all together.

I snatched up over 900K of 1 year and 18 months CD. I wonder of I should have gone for longer terms. Part of my motivation includes: A few weeks ago I sold out the my bond funds so I have a lot of spare cash sitting in the MM account, The rates was and still are good, and I decided that CD under FDIC limits is actually safer than the high-yield Money market accounts.

[Car-Guy]

Quote:

Originally Posted by erkevin Myself, Car-Guy, and probably a few others would like to make a polite request for all of you to quit buying all of the multi-year, non-callable, 5+% CDs and leave some for us (pretty please!).

Quote:

Originally Posted by disneysteve I wonder how much the users here have collectively snatched up. It’s got to be millions of dollars worth all together.

Quote:

Originally Posted by dmpi I snatched up over 900K of 1 year and 18 months CD. I wonder of I should have gone for longer terms. Part of my motivation includes: A few weeks ago I sold out the my bond funds so I have a lot of spare cash sitting in the MM account, The rates was and still are good, and I decided that CD under FDIC limits is actually safer than the high-yield Money market accounts.

As of now I'm in for over 750k just in CD's over the past 9mos and 1/3 of those will mature before the end of the month. I'll be adding some more cash to those and buying some of those 5+% CD's that erkevin asked you guys to save for us. So yes, no doubt the forum members here are in for millions, probably 10's of million altogether in the past year, just in new CD's. So, I'm probably going to "Spring" for one to three years CD's when I re-buy. I hope we don't all end up looking like idiots if rates go up to 6 or 7% later this year. Could happen, but that's the risk we take.

Funny how this how gone. When I started buying CD's again, my plan was to only buy 500k... Later that "somehow" crept up to 750k. And now I just don't know.

[11522914]

Quote:

Originally Posted by dmpi I decided that CD under FDIC limits is actually safer than the high-yield Money market accounts.

Came to the same conclusion and loaded up on 1 to 4 month CDs. Still have a small balance in my MM but it was crazy how much 4 month or less CDs are paying right now, exceeding my MM rate even if the fed raises up to .50 next week.

[Freedom56]

Think of all the inflation that could be caused by savers suddenly finding themselves with 10 -15 times more interest income than a year ago. Will they spend that excess income or save it?

[Chuckanut]

Quote:

Originally Posted by Car-Guy So yes, no doubt the forum members here are in for millions, probably 10's of million altogether in the past year, just in new CD's.

I hope the mods let us know when the Feds subpoena this site’s records as part of their banking collusion and RICO investigations.

[MuirWannabe]

Quote:

Originally Posted by Freedom56 Think of all the inflation that could be caused by savers suddenly finding themselves with 10 -15 times more interest income than a year ago. Will they spend that excess income or save it?

It’s definitely gonna cut into my Roth conversion amounts.

[Car-Guy]

Quote:

Originally Posted by Chuckanut I hope the mods let us know when the Feds subpoena this site’s records as part of their banking collusion and RICO investigations.

Just playing by the rules they setup and finally getting something for it. The deck is stacked though. We're still loosing ground, just not as fast.

[disneysteve]

Quote:

Originally Posted by Car-Guy I hope we don't all end up looking like idiots if rates go up to 6 or 7% later this year. Could happen, but that's the risk we take..

And that’s why we ladder maturities. If rates go up, I’ll have existing ones maturing to reinvest.

[Car-Guy]

That's about all we can do in this game.

[aja8888]

Since I have been loading up my IRA with the basket of CDs, notes and Tbills, that new income about covers my annual RMD!

So the tax man gets it anyway!

[Chuckanut]

Quote:

Originally Posted by aja8888 Since I have been loading up my IRA with the basket of CDs, notes and Tbills, that new income about covers my annual RMD! So the tax man gets it anyway!

Not all of it I hope!

[aja8888]

Quote:

Originally Posted by Chuckanut Not all of it I hope!

At my age, the RMD pull is about 4% which is about what my average coupon is on all the fixed income I have been buying. Close.....

[audreyh1]

Quote:

Originally Posted by aja8888 At my age, the RMD pull is about 4% which is about what my average coupon is on all the fixed income I have been buying. Close.....

I think he means he hopes not all of your RMD goes to pay taxes.

[aja8888]

Quote:

Originally Posted by audreyh1 I think he means he hopes not all of your RMD goes to pay taxes.

Yes, that's correct. Being single now, a lot more or the distribution will go to taxes this coming tax year.

[sengsational]

Quote:

Originally Posted by sengsational The 4 year inventory for the 3/23 date is still there. In fact, they added a bunch more 4 year Morgan Stanley. The 18 month duration CD's were sold or pulled. There's a smattering of smaller bank 5 year CD's, some higher than the 4.9% that the larger banks were offering. Certainly slimmer pickins than earlier in the week.....

Now there's no new issue CD's on Fidelity between 12 and 24 months. Still plenty of Morgan Stanley 4 years at 4.95%, and many small banks offering up to 5.45% on the 5 year term.