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

[disneysteve]

Ally is going up to 3.85% tomorrow.

 

[Dtail]

Ally up to 3.85%. Big whoop.

 

[audreyh1]

Amex Savings went up to 3.9% a couple of days ago. I thought Ally would at least match them.

Fortunately at Ally I have most of my funds in their no penalty 4.75% CDs that were available for a very short while. A bit more in longer 4.65% CDs.

I keep funds in several high yield savings accounts, just in case, you ever know. Fortunately some of those banks offered some pretty good CD rates recently which I took advantage of.

 

[Montecfo]

I have a very small account at Ally. Just waiting for them to do something to become competitive.

 

[copyright1997reloaded]

5%

Well, my magic spreadsheet of all my fixed holdings tells me my weighted yield is now 5%!

Weighted APY on cash, bank accounts, money market funds, CD's, treasuries, etc. 5.001%
Weighted days to maturity: 357 days.
Breakdown of fixed by asset type: Cash (bank checking/savings) 1.3%. money market 7.1%, Tbills/Tnotes/TIPS 43.8%, CD's 46.4%, corporate bonds 1.7%. Not included are savings bonds and some preferred, which will likely skew the yields higher.

Only recently have I been tracking changes in my weighted yield, the oldest data point I have is December 12, 2022 and the number was 4.279%.

 

[jldavid47]

Well, my magic spreadsheet of all my fixed holdings tells me my weighted yield is now 5%!

Weighted APY on cash, bank accounts, money market funds, CD's, treasuries, etc. 5.001%
Weighted days to maturity: 357 days.
Breakdown of fixed by asset type: Cash (bank checking/savings) 1.3%. money market 7.1%, Tbills/Tnotes/TIPS 43.8%, CD's 46.4%, corporate bonds 1.7%. Not included are savings bonds and some preferred, which will likely skew the yields higher.

Only recently have I been tracking changes in my weighted yield, the oldest data point I have is December 12, 2022 and the number was 4.279%.

Nice! The current yield on our fixed income investment portfolio right now is 5.09% with an average maturity of 249 days and is 60.2% Treasuries, 32.8% CDs, 5.7% Agency notes, 1.0% money market and 0.3% cash. Corporate bonds are not paying enough of a risk premium for me to bite right now. This does not include money in savings accounts which earns less and is meant for off-budget spending, not investment.

 

[pb4uski]

Me... 5.220%, 2.65 years/966 days;
46% CDs, 30% Agencies, 14% Corp, 8% I-Bonds, 2% Preferreds
49% Callable

DM... 4.620%, 1.73 years/630 days;
50% CDs, 30% Agencies, 20% UST
30% Callable

 

[copyright1997reloaded]

Nice! The current yield on our fixed income investment portfolio right now is 5.09% with an average maturity of 249 days and is 60.2% Treasuries, 32.8% CDs, 5.7% Agency notes, 1.0% money market and 0.3% cash. Corporate bonds are not paying enough of a risk premium for me to bite right now. This does not include money in savings accounts which earns less and is meant for off-budget spending, not investment.

Nice to you too! I include savings/checking accounts as a way to "force" me to think/act on keeping those balances (yielding next to nothing) in check. Maybe I should change to be able to write checks on a high yielding MM but changing everything over (direct deposit, autopay) is a hassle. Still, something to consider.

Me... 5.220%, 2.65 years/966 days;
46% CDs, 30% Agencies, 14% Corp, 8% I-Bonds, 2% Preferreds
49% Callable

DM... 4.620%, 1.73 years/630 days;
50% CDs, 30% Agencies, 20% UST
30% Callable

Nice on the 5.22%. I am keeping things pretty conservative on my fixed side (very little in terms of corporates and minimal callable). This is somewhat my nature, somewhat because I expect additional economic duress ahead (and don't want to worry about investment risk) and also because I still have 38% or so in equities as my upside/additional beta components.

 

[Car-Guy]

My self managed IRA CD's "crop" is yielding about 4.7% with ~400 day avg maturity at this time. I've got some in the mid 3% that drag down my avg.

My 401k (professionally managed conservative fund) is yielding over 7%. (believe it or not) Fortunately that's where I have my big bucks.

 

[jldavid47]

Ally is going up to 3.85% tomorrow.

Note that's the APY. The interest rate is now 3.78%. Gotta look at the details.

 

[jldavid47]

My 401k (professionally managed conservative fund) is yielding over 7%. (believe it or not) Fortunately that's where I have my big bucks.

I'm not sure how anything "conservative" can be yielding over 7%. There must be some risk somewhere to get that yield.

 

[Car-Guy]

^^^^^
Well everything has risk.... The company calls the fund "conservative" in their documentation. Anyway, I've been in this 401k for over 40 years and never lost a dime. Some years have been pretty lean but I've always made money. It's a managed fund by a company subsidiary and is ~99% paid for by the company. (I think I pay $100 yr as a retiree) They invest in things like high quality US securities, US I Bonds, corporate/bank securities and a good chuck is used for making loans to employees that are still working, currently at 8.75%.

Last year I think I ended up getting a little over 7% for the entire year. Not too bad. This year I'm on track to beat last year numbers by a little. The first quarter, I got an annualized rate of 7.64%.

 

[audreyh1]

Not IBonds as those are only available to the individual investor - so it’s something else.

 

[Car-Guy]

I wonder about that too, but that's what it says in their documentation. They even say "they pay a rate of interest based on the rate of inflation of the United States."

 

[Montecfo]

I'm glad that one has worked out Car-Guy but my guess is the actual breakdown of securities may be different than you expect. 7%+ is not easily achieved in this market with high quality securities.

 

[Car-Guy]

I'm glad that one has worked out Car-Guy but my guess is the actual breakdown of securities may be different than you expect. 7%+ is not easily achieved in this market with high quality securities.

I can only tell you what the documentation says. I know for sure they are getting a nice return on part of my money by making personal loans to employees @8.75%. And they have a lot of employees.

 

[imbatman]

@ Fido.....1-year call protected 5.35% monthly payment CD at Encore Bank (DSN5Q2391)

 

[Dtail]

I can only tell you what the documentation says. I know for sure they are getting a nice return on part of my money by making personal loans to employees @8.75%. And they have a lot of employees.

Probably the bigger part of the reason is the loans, making it almost a super sized Stable Value fund of sorts.

 

[Car-Guy]

^^^^
I suspect that's true but they don't break it down and tell us investment percentages. Also, it's managed by a company subsidiary (a bunch of MBA's) and the company pays for almost all fund management cost. It all helps with my rate of return! Just another remaining post employment perk.

 

[jazz4cash]

^^^^^
. Anyway, I've been in this 401k for over 40 years and never lost a dime.

How is that even possible?

 

[jazz4cash]

Marcus $100 bonus on $10k new money for 3 mos hit my account!! I had basically moved the money out and back in to qualify but I was pretty sure I had missed out on the bonus. FYI they are paying 4.15 APR and they still have 3 mo 1% referral bonus. I think you can also stack the AARP .1% for 24 mos.

Anybody need a referral?

https://themoneyninja.com/marcus-100-savings-bonus/

 

[Car-Guy]

Anyway, I've been in this 401k for over 40 years and never lost a dime. Some years have been pretty lean but I've always made money.

How is that even possible?

Oh it's very possible.

They pay on a quarterly basis and I was always heavily invested in pretty conservative and/or exclusively fixed income investments. The last 20 years it's been 100% in fixed income. Some quarters it wasn't a lot but it was always positive. The last several quarters have been record payments for me.

 

[jldavid47]

How is that even possible?

Hey, Bernie Madoff did it.

 

[jazz4cash]

Hey, Bernie Madoff did it.

Oh, yeah that’s how.

 

[JohnDoe]

How is that even possible?

He lost a few quarters.