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

[audreyh1]

A lot of the CD listings have disappeared from TDA also. There are currently no non-callable CDs with 5% yield (yesterday there were quite a few)

Maybe people were snatching these up like crazy yesterday and they are sold out?

 

[Fermion]

My wells fargo "high yield" saving account jumped 100% from 0.01% to 0.02% yeild.

 

[lordjust]

My wells fargo "high yield" saving account jumped 100% from 0.01% to 0.02% yeild.

do you have plans to buy something big ?

 

[lordjust]

so .. if i just keep waiting will i need to even buy a fixed asset?

https://www.schwabassetmanagement.com/products/swvxx

 

[Fermion]

do you have plans to buy something big ?

Not really. We are building a house though and frequently have $3,000 to $5,000 purchases so I have to be liquid. I am moving money over to Fidelity though now because they pay so nice in the money market.

Wells Fargo can take a long walk off a short pier.

 

[copyright1997reloaded]

SWVXX 7-day yield keeps rising quickly. Now 3.7%
https://www.schwabassetmanagement.com/products/swvxx

 

[Fermion]

so .. if i just keep waiting will i need to even buy a fixed asset?

https://www.schwabassetmanagement.com/products/swvxx

That expense ratio though!

 

[lordjust]

That expense ratio though!

ya..I see that every time i open the page.. it is upsetting.. although I believe the 3.7% has the expense included?

 

[audreyh1]

ya..I see that every time i open the page.. it is upsetting.. although I believe the 3.7% has the expense included?

Yes, the 3.7% yield is net of any expense ratio.

 

[Ian S]

Just got email from Marcus that their new savings account rate is 3.0%.

 

[Montecfo]

That expense ratio though!

This is a bit of a red herring. Unless you have a similar fund with lower expenses.
Despite what you may hear, expenses by themselves are not a bad thing. It all depends on the performance being delivered.

 

[Fermion]

Yes, I didn't realize that the rate was post expense ratio. It is amazing rate then..makes me wonder why anyone would lock in a short term bond if you can just let cash make 3.7% and be ready to pounce on the next rate move.

 

[copyright1997reloaded]

Yes, I didn't realize that the rate was post expense ratio. It is amazing rate then..makes me wonder why anyone would lock in a short term bond if you can just let cash make 3.7% and be ready to pounce on the next rate move.

Yepper. However, to be fair, on 6/21/22 SWVXX was yielding around 0.6% while 3 month T-Bills were around 1.7%.

I would not be surprised that the rate on it was rising so fast recently because they are getting tons of money deposited (and thus can invest it in short term paper over 4%, plus their existing paper being rolled over at higher rates.)

 

[Dtail]

This is a bit of a red herring. Unless you have a similar fund with lower expenses.
Despite what you may hear, expenses by themselves are not a bad thing. It all depends on the performance being delivered.

Agree for this type of account, it is really only the net that counts.

 

[audreyh1]

Yepper. However, to be fair, on 6/21/22 SWVXX was yielding around 0.6% while 3 month T-Bills were around 1.7%.

I would not be surprised that the rate on it was rising so fast recently because they are getting tons of money deposited (and thus can invest it in short term paper over 4%, plus their existing paper being rolled over at higher rates.)

Cash funds are so short duration that they are able to buy new issues immediately because holdings mature so quickly. Doesn’t take that long to turn over the entire portfolio.

 

[copyright1997reloaded]

Cash funds are so short duration that they are able to buy new issues immediately because holdings mature so quickly. Doesn’t take that long to turnover the entire portfolio.

Right.
Here are the holdings: Money Market Disclosures - Charles Schwab

Note that their assets under management (for the fund) have moved from about $70 billion to $130 billion in the last year.

 

[John Galt III]

I finally was able to figure out the Vanguard website, with some guesswork on my part, and and set up a VMFXX position with $0.00 in it, awaiting funding at a future date. I also was able to link my checking account. I am awaiting my two micro transactions! In 2 to 3 business days I will be able to reel in that 3.2% (?) in VMFXX and maybe snap up a 4.X % CD. I think Vanguard must have changed their website, since it almost made sense this time, and also the FAQ's actually answered my questions! To their credit, they do have little suggestions boxes on many of the screens, and I used them before to tell them what was 'wrong' with their instructions. Hoping for a user-friendly experience going forward!

 

[target2019]

Waiting on trial deposits also. Hypothetical pennies travel one way, and then return.

 

[disneysteve]

I finally was able to figure out the Vanguard website, with some guesswork on my part, and and set up a VMFXX position with $0.00 in it, awaiting funding at a future date. I also was able to link my checking account. I am awaiting my two micro transactions! In 2 to 3 business days I will be able to reel in that 3.2% (?) in VMFXX and maybe snap up a 4.X % CD. I think Vanguard must have changed their website, since it almost made sense this time, and also the FAQ's actually answered my questions! To their credit, they do have little suggestions boxes on many of the screens, and I used them before to tell them what was 'wrong' with their instructions. Hoping for a user-friendly experience going forward!

I use the Vanguard site all the time. I find it simple to navigate and super easy to buy brokered CDs, Treasury bills, agency bonds, and other investments. It's all extremely user-friendly. Just ask if you have any questions.

 

[John Galt III]

I use the Vanguard site all the time. I find it simple to navigate and super easy to buy brokered CDs, Treasury bills, agency bonds, and other investments. It's all extremely user-friendly. Just ask if you have any questions.

Thanks! I may do that.

 

[audreyh1]

For the Andrews 7 month 5% Certificate I was successful in opening it online and transferring the deposit from my savings account at Andrews. I had transferred the funds pushed from Fidelity last Thursday, they showed as available at Andrews on Friday, and so I opened the certificate. It shows fully funded as of today.

 

[John Galt III]

For the Andrews 7 month 5% Certificate I was successful in opening it online and transferring the deposit from my savings account at Andrews. I had transferred the funds pushed from Fidelity last Thursday, they showed as available at Andrews on Friday, and so I opened the certificate. It shows fully funded as of today.

Nice going, Audrey!

I have yet to do anything about Andrews CD purchases. I am currently poking around in my newly established and fun Vanguard taxable brokerage account.

I'm looking over the new issue CD's. Some have the word 'callable' in the description. I am assuming those without the word 'callable' are 'not callable'. Right?

 

[Gotadimple]

I am assuming those without the word 'callable' are 'not callable'. Right?

Yes, that's correct!

 

[Fermion]

If you buy a new CD in your broker account, and say the issue date is 11/29 or something like that, but the trade goes through today? What happens to your money in the 14 days before it is issued?

 

[lawman]

If you buy a new CD in your broker account, and say the issue date is 11/29 or something like that, but the trade goes through today? What happens to your money in the 14 days before it is issued?

At Schwab it's my understanding you can buy the C.D. now without the funds in your cash account as long as the funds are there when it settles..