Best CD, MM Rates & Bank Special Deals Thread 2022 - Please post updates here

[lordjust]

I think that's reasonable, all things considered... That's why I bought a bunch of CD's that will all mature within the next 18 mos... Many sooner.. Then I hope to buy back in and lock in even higher rates and longer maturities. Still a crap shoot, but seems reasonable (to me), at this time.

2 years tops for me at this point ... cds such as this one 45385JAE8 is/are getting very enticing.

 

[Car-Guy]

My thinking is inflation is still out of control but I hope they'll get it down over the next year or so. (?) Until then, the Fed is going to keep raising rates and CD's, etc will follow. In less than 2 years all my shorter term CD's will have matured and I "hope" to buy into 3 to 5 year CD's at that point and hopefully lock in higher rates for a longer period. After that, I'm not sure I'll care as much .

 

[ShokWaveRider]

In less than 2 years all my shorter term CD's will have matured and I "hope" to buy into 3 to 5 year CD's at that point and hopefully lock in higher rates for a longer period. After that, I'm not sure I'll care as much .

If I got 5% now for 5 years, I would be happy, after that I will not care.

 

[Car-Guy]

If I got 5% now for 5 years, I would be happy, after that I will not care.

Schwab has 5 yr CD's for 4.35 right now and they have been steadily ticking up for the past few months... I suspect you'll get your wish soon. Maybe/probably even before year end.

 

[ShokWaveRider]

Schwab has 5 yr CD's for 4.35 right now and they have been steadily ticking up for the past few months... I suspect you'll get your wish soon. Maybe/probably even before year end.

Fingers crossed.

 

[Chuckanut]

Just curious, are most of the responders on this particular thread already retired? Asking because I am still w**king and still have more than 7 years to go. What would you have done if you were working in current environment. Just wanted to get a perspective from those that are still w*rking.

If I was working and I believed my job and paycheck were secure for years to come, I would continue to invest in equities via no-load mutual funds. And, of course, put some cash into risk free savings just in case things get a lot, lot, lot, lot worse.

I did that in the 70's and 80's. I was working for an oil company that just got the go ahead to build a pipeline in Alaska. Money was not an object. We got nice raises that sort of kept us even with inflation, and jobs were secure unless one was dishonest or very incompetent.

Today, as a retired guy, I am more conservative. I am not bailing on equities, but I am also not buying more, though that might be very tempting if we see another 10+% drop. In regards to bonds, I am not locking in money for more than 2 years as I think interest rates and inflation are still riding the roller coast up with considerable momentum.

I recall that about two years ago, I was thinking if I saw another 3% 5 year CD I would jump on it. Not today. Inflation is too high. Rates still have a ways to go on the upside unless inflation takes a real dive. I might be tempted by 5+% for 5 years, but only for a small chunk of bond money.

I could be completely wrong. That's why I have bond ladders under two years. Evaluate and adjust as needed. YMMV.

 

[TheCaptain67]

AMEX Bank has 3 year 4.40% CDs (non-callable) at Fidelity and TDA/Schwab.

CUSIP: 02589AE24 Maturity 10/6/2025

When I look up that CUSIP on Fidelity, it says:
Fidelity is not currently offering this security

Does that mean it is already sold out ?

 

[Freedom56]

When I look up that CUSIP on Fidelity, it says:
Fidelity is not currently offering this security

Does that mean it is already sold out ?

At Fidelity it shows up as:

AMERICAN EXPRESS NATL BK 4.400000 10/06/2025 10/05/2022


Bond CUSIP DSM9S7529
Description AMERICAN EXPRESS NATL BK 4.400000 10/06/2025 10/05/2022

My order at TDA is filled. My order at Fidelity is pending. However it is available. I just checked again. Fidelity has a different CUSIP.

 

[lordjust]

Schwab has 5 yr CD's for 4.35 right now and they have been steadily ticking up for the past few months... I suspect you'll get your wish soon. Maybe/probably even before year end.

agreed!... i am actually expecting them to go even higher...

 

[TheCaptain67]

At Fidelity it shows up as:

AMERICAN EXPRESS NATL BK 4.400000 10/06/2025 10/05/2022

Bond CUSIP DSM9S7529
Description AMERICAN EXPRESS NATL BK 4.400000 10/06/2025 10/05/2022

Fidelity has a different CUSIP.

Interesting. The original CUSIP posted I can see the info but I get the Fidelity doesn’t offer in the search screen.

But when I use the CUSIP you provided DSM9S7529, I can see it with no error at Fidelity and I can see there are 2686 units left.

I have always just done a CUSIP search, assuming that was a 1-1 mapping for a brokered CD. Appears that is not the case.

Learned something today. Thanks

 

[RetireAge50]

I went ahead and got some of the 4.4% AMEX offering. First CD I have bought from Vanguard brokerage.

 

[calmloki]

I thought someone mentioned either in this thread or another one that GTE allowed the termination of those 5 year CD's with no penalties.

Nope. As with Navy, you can pull the dividends out without breaking the CD and fee free when you pull.

 

[RetiredAndLovingIt]

I mentioned that you can pull the interest earned out with no penalty at GTE

 

[lawman]

I just bought my first T-Bill at auction just to test the water. It matures 11/1/22. Still don't know the interest rate. Is one more likely to get a better rate when buying at auction than what Schwab offers on their offerings page.?

 

[copyright1997reloaded]

I just bought my first T-Bill at auction just to test the water. It matures 11/1/22. Still don't know the interest rate. Is one more likely to get a better rate when buying at auction than what Schwab offers on their offerings page.?

matures 11/1/2022
YTM: 2.703%

Link to Treasury Auction Results: https://www.treasurydirect.gov/instit/annceresult/annceresult.htm

 

[11522914]

matures 11/1/2022
YTM: 2.703%

Link to Treasury Auction Results: https://www.treasurydirect.gov/instit/annceresult/annceresult.htm

1 month cds are paying more than comparable Treasuries

 

[copyright1997reloaded]

1 month cds are paying more than comparable Treasuries

That's nice, I was only providing a link to answer the question posed.

However, regarding CD' vs. Treasuries:
As well they (CD's) should (yield more)

 

[lawman]

matures 11/1/2022
YTM: 2.703%

Link to Treasury Auction Results: https://www.treasurydirect.gov/instit/annceresult/annceresult.htm

Nice! Thanks..

 

[jldavid47]

I just bought my first T-Bill at auction just to test the water. It matures 11/1/22. Still don't know the interest rate. Is one more likely to get a better rate when buying at auction than what Schwab offers on their offerings page.?

The purchase price on that Tbill was $99.793111 and the Investment Rate (basically APY) was 2.703%.

I don't understand your question. If you buy at auction through the Schwab Bond page you get the same price as everyone else who got the non-competitive bid price.

 

[Love This Community]

Thank you all for your responses. I feel better continuing to buy equities

 

[lawman]

The purchase price on that Tbill was $99.793111 and the Investment Rate (basically APY) was 2.703%.

I don't understand your question. If you buy at auction through the Schwab Bond page you get the same price as everyone else who got the non-competitive bid price.

On Schwab they have an offering page with many C.D.'s, retail notes, treasuries etc. Those have all the rates listed and you know what rate you are getting before you buy. They also have a page for upcoming Treasury auctions where you can select the maturity date you want but you don't find out what rate you are receiving until after the auction..I just wonder if one is likely to get a better rate by buying at auction..

 

[Car-Guy]

If I got 5% now for 5 years, I would be happy, after that I will not care.

Schwab has 5 yr CD's for 4.35 right now and they have been steadily ticking up for the past few months... I suspect you'll get your wish soon. Maybe/probably even before year end.

Update from this morning... Now 4.5%...

 

[copyright1997reloaded]

On Schwab they have an offering page with many C.D.'s, retail notes, treasuries etc. Those have all the rates listed and you know what rate you are getting before you buy. They also have a page for upcoming Treasury auctions where you can select the maturity date you want but you don't find out what rate you are receiving until after the auction..I just wonder if one is likely to get a better rate by buying at auction..

You get the same as the highest yielding competitive bid.

Does that mean better than the secondary market? No, not necessarily as perhaps the auction resulted in lower rates (higher prices) than what the secondary market just prior to the auction anticipated. But if that isn't the cse, you might get a better rate (lower price) due to the Fed taking more bids.

The fact that the rate is unknown (before the auction completes) doesn't bother me...it seems lately that rates have moved up on auction day (and higher than what the secondary market was pricing in). But I have no statistical evidence to prove that.

YMMV.

 

[aja8888]

Schwab has 5 yr CD's for 4.35 right now and they have been steadily ticking up for the past few months... I suspect you'll get your wish soon. Maybe/probably even before year end.

If the ten year treasury got to 5%, I would load up the boat and never look at the market again. Heck, in 10 years I will be lucky to even be here.

 

[Car-Guy]

If the ten year treasury got to 5%, I would load up the boat and never look at the market again. Heck, in 10 years I will be lucky to even be here.

That's a big part of the reason (seriously) why I'm not buying anything that has longer than a 5 year time horizon. I'd like to be reasonably sure I'm here to collect! Ten years might be pushing it.