As of 10 am EST 8/21/2024, here are the highest rates available at either Charles Schwab brokerage and/or Vanguard brokerage for non-callable, new-issue brokered CDs with terms of 3-month, 6-month, 9-month, 1-year, 18-month, 2-year, 3-year, 4-year, and 5-year:
3-month: 4.90% (Community Bank PA, Flushing Bank NY, Webster Bank NA CT)
6-month: 4.75% (Heritage Bank Inc. KY), 4.65% (Centreville Bank RI, Santander Bank NA DE)
9-month: 4.45% (Associated Bank NA WI)
1-year: 4.25% (BankNewport RI - monthly), 4.20% (Barclays Bank DE, BofA, GSB, MSB, MSPB)
18-month: 4.15% (First Independent Bank MN - monthly), 4.10% (Barclays Bank DE)
2-year: 4.00% (Barclays Bank DE, Morton Community Bank IL - monthly)
3-year: 3.90% (MSB, MSPB), 3.85% (UBS - monthly)
4-year: 3.85% (MSB, MSPB), 3.80% (UBS - monthly)
5-year: 3.80% (Medallion Bank UT - monthly, MSB, MSPB), 3.75% (UBS - monthly)
Large issuers abbreviations:
BofA => Bank of America, NC; GSB => Goldman Sachs Bank USA, NY;
MSB => Morgan Stanley Bank, UT; MSPB => Morgan Stanley Private Bank, NY;
SCHW => Charles Schwab Bank, TX; UBS => UBS Bank USA, UT; WF=> Wells Fargo Bank, SD.
Notes: If you want to lock in 5% CDs now, you have to look for those rates nationally or locally available via Direct Bank or Credit Union.
For those staying liquid, expecting multiple cuts not to materialize, or only a one and done recalibration cut later this year, or waiting for the yield curve to steepen (longer rates to rise) and/or waiting for the bond vigilantes to appear, demanding higher longer rates, here are the previous ten weekly 4-week T-bill auctions most recently yielding investment rates: 5.355%, 5.381%, 5.381%, 5.381%, 5.365%, 5.365%, 5.375%, 5.365%, 5.324%, 5.355%.
As of August 14, ICI reported to the Federal Reserve that $6.22 trillion of cash is parked in money market funds. This is an increase of $28.38 billion from the prior week. Current Money Market yields at Vanguard are (VMFXX (Settlement fund) 5.27%, VUSXX 5.26%, VMRXX 5.27%).
