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

[Chuckanut]

Just picked up a one year treasury from auction at 2.164%. Not too bad.

Thanks. I bought one today also. I guess about 2.1% is where the 52 week bill ended up. The 26 week ended up at 1.52%.

 

[MJ]

Is there an advantage to a Treasury Bill, over say a 1 yr CD at 2.1%?
Thanks!

As it has been mentioned, if you are in an income tax state then the treasury bill will probably be tax exempt.

 

[audreyh1]

I noticed one can buy treasury bills at auction and have them automatically rolled over at maturity. Is their any advantage to doing this or is it generally done for convenience?

It’s very convenient. And easy to cancel or modify before maturity.

 

[audreyh1]

Thanks for the answers.

How do you tell if you're buying at auction vs. secondary market?

Are there fees for purchasing through the secondary market?

At Fidelity to buy a treasury at auction you have to buy a “new issue”.

There aren’t explicit fees for purchasing treasuries via the secondary market thru Fidelity, that is instead covered by the bid/ask spread.

 

[jazz4cash]

Currently there are 3 trades at rate 2.213, 2.226 and 2.229 that expires 5/31/2023. One of them that asks quantity 35k, limit price 100.568. Can I buy more than 35k? the limit price is over 100 while others under 100, what's that mean?

There is a feature on Fido called “depth of book”. It’s a little book icon in a column to the right of the Yield/Price info. The listed Yield/Price is best available but the min order qty is often huge. If you click “depth of book” icon a list of additional dealers will pop up. I ALWAYS find another dealer that has smaller quantities available for just a slightly higher price. Instead clicking the icon you can also just click the “buy” button and a list will popup with with various yield/price/ min qty offers. Sometimes my bid does not go thru and I have to submit a few times or RAISE the bid by a penny or two due to market dynamics (or so I’m told). It’s great learning this stuff together, right?

 

[explanade]

Per Deposit Accounts, Department of Commerce FCU has some attractive rates. Membership is now open to all per Deposit Accounts. 12-23 month CD's at 2.12 percent. 48 month at 2.99.

Has anyone opened an account with this institution for these rates?

Or have had accounts with them in the past?

So it doesn't appear too many takers with this credit union.

People seem happy if they get .70% from more well-known online banks.

Currently Department of Commerce FCU is offering 1.3% for 6-11 months and 1.88% for 12-24 months and 2.4% for 24-35 months.

 

[ShokWaveRider]

PenFeds 5 Year CDs are 3%.... Wait till July, then they will be increased I am sure.

 

[TOOLMAN]

PenFeds 5 Year CDs are 3%.... Wait till July, then they will be increased I am sure.

I bought some 2 year treasuries 2.7%

 

[lucky penny]

PenFeds 5 Year CDs are 3%.... Wait till July, then they will be increased I am sure.

I'm seeing PenFed's 5 year CD is 2.75%, the 7 year is 3%.

 

[Dash man]

Thanks for the answers.



How do you tell if you're buying at auction vs. secondary market?



Are there fees for purchasing through the secondary market?

Auction bills are found by clicking New Issues. You can sign up at Treasury Direct for notifications.

Secondary market treasuries will be listed under Bonds. They have a grid with the type of bonds, time till maturity and approximate interest rates. They make their money from a spread. You can call the bond desk for help if you’re unsure how to proceed.

 

[ShokWaveRider]

I'm seeing PenFed's 5 year CD is 2.75%, the 7 year is 3%.

Yes, you are right my mistake, it is Conexus that is 3.21 for 60 months. I was looking too high on the list. PenFed must pay to be first when 5 years is selected.

My point being they seem to be rising quicker now.

https://www.depositaccounts.com/cd/5-year-cd-rates.html

 

[jim584672]

Yes, you are right my mistake, it is Conexus that is 3.21 for 60 months. I was looking too high on the list. PenFed must pay to be first when 5 years is selected.

My point being they seem to be rising quicker now.

https://www.depositaccounts.com/cd/5-year-cd-rates.html

Conexus that is 3.21 for 60 months early withdrawal penalty 365 days.

 

[John Galt III]

Yes, you are right my mistake, it is Conexus that is 3.21 for 60 months. I was looking too high on the list. PenFed must pay to be first when 5 years is selected.

My point being they seem to be rising quicker now.

https://www.depositaccounts.com/cd/5-year-cd-rates.html

Ooooo, that PenFed 7 year 3.0% is tempting me. I'm afraid the rates will drop back if I wait too long. Still waiting and hoping for PenFed 5 year 3.0 % . Someone said PenFed would bump up again in July, eh? I'm just not comfortable doing the Treasury thing, just for a slightly higher rate.

 

[Eucerin]

Instead of 1 year secondary market treasury, Fido has new 1 year CD multiple offers at 2.05. That's not bad at all

 

[Montecfo]

Not bad but treasury yield still higher and state tax free.

But I like the movement.

 

[Eucerin]

Not bad but treasury yield still higher and state tax free.

But I like the movement.

That's true!

 

[DawgMan]

For those of you who may be laddering money out for 5 - 10 years, are you currently buying anything beyond 2 - 3 year maturities knowing the Fed has made it clear they will be raising rates for the foreseeable future until inflation is "tamed". I changed up my fixed allocation strategy earlier this year moving 5 years of my bond funds into individual bonds (Treasuries), currently all set to expire between July - Jan. Plans were to redeploy once they mature and perhaps look a little further out, some up to 2 years, but curious as to what others are thinking regarding when to start committing to longer term maturities?

 

[pb4uski]

I just noticed that the 2028 and longer TIPs maturities now have slightly positive real yields... interesting... is ibonds at inflation + 0% are good then what is the matter with 2028-2030 TIPs at a negligible real yield?


https://www.wsj.com/market-data/bonds/tips

 

[aja8888]

For those of you who may be laddering money out for 5 - 10 years, are you currently buying anything beyond 2 - 3 year maturities knowing the Fed has made it clear they will be raising rates for the foreseeable future until inflation is "tamed". I changed up my fixed allocation strategy earlier this year moving 5 years of my bond funds into individual bonds (Treasuries), currently all set to expire between July - Jan. Plans were to redeploy once they mature and perhaps look a little further out, some up to 2 years, but curious as to what others are thinking regarding when to start committing to longer term maturities?

Right now I am buying 3 month treasuries at auction and having them roll over. I'm staggering them with 2 month treasury bill purchases. Once rates go higher, I'll add some longer maturities. I'll possibly build a rolling ladder of higher rates, maybe a 2 year one. The FED has several rate increases scheduled and I'm waiting to see where this goes.

 

[Dtail]

Ooooo, that PenFed 7 year 3.0% is tempting me. I'm afraid the rates will drop back if I wait too long. Still waiting and hoping for PenFed 5 year 3.0 % . Someone said PenFed would bump up again in July, eh? I'm just not comfortable doing the Treasury thing, just for a slightly higher rate.

If you weren't stuck on Penfed..... just saying

 

[Dash man]

If you weren't stuck on Penfed..... just saying

Five year treasuries are close enough to 3%, I’d choose those over PenFed. Plus no state income tax.

 

[Dtail]

Five year treasuries are close enough to 3%, I’d choose those over PenFed. Plus no state income tax.

Agree generically, although for some cases, the state tax is not in play.

 

[Dash man]

How do you tell if you're buying at auction vs. secondary market?

Are there fees for purchasing through the secondary market?

There are a number of treasury auctions next week:

 

[jazz4cash]

Canvas Annuity 3yr MYGA 4.3%. Canvas is a direct annuity seller and I think their products may be a bit different from other MYGA providers.

 

[teej1985]

Canvas Annuity 3yr MYGA 4.3%. Canvas is a direct annuity seller and I think their products may be a bit different from other MYGA providers.

There's not much different about it.