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Highest Brokered CD Rates As Of 9/04/2024

Kirkland
  |     |   377 posts since 2014

As of 5 pm EST 9/04/2024, 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: 4.95% (Flushing Bank NY, Merchants Bank of Indiana IN, Valley National Bank NJ)

6-month: 4.70% (SouthState Bank NA FL, State Bank of India IL), 4.65% (Associated Bank NA WI, Hingham Institution for Savings MA, LendingClub Bank NA UT, Valley National Bank NJ)

9-month: 4.50% (Associated Bank NA WI)

1-year: 4.35% (LendingClub Bank NA UT, MSB, MSPB, SCHW, SouthState Bank NA FL)

18-month: 4.15% (Israel Discount Bank NY, LendingClub Bank NA UT, MSB, MSPB)

2-year: 4.00% (Israel Discount Bank NY, LendingClub Bank NA UT, MSB, MSPB)

3-year: 3.90% (MSB, MSPB)

4-year: 3.85% (MSB, MSPB), 3.80% (UBS - monthly)

5-year: 3.80% (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. There are not many with durations over 1-year.

For those staying liquid, expecting a one and done recalibration cut in September, or expecting multiple cuts not to materialize until next 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: 5.263%, 5.335%, 5.355%, 5.381%, 5.381%, 5.381%, 5.365%, 5.365%, 5.375%, 5.365%.

As of August 28, ICI reported to the Federal Reserve that $6.26 trillion of cash is parked in money market funds. This is an increase of $21.05 billion from the prior week. Current Money Market yields at Vanguard are (VMFXX (Settlement fund) 5.25%, VUSXX 5.24%, VMRXX 5.26%).

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13


RichardW
  |     |   821 posts since 2019
American Express re-enters the 5-year, new issue, non-callable, brokered CD arena, albeit at a lower rate.

Remember back in November 2022 when American Express and the other two credit card banks, Capital One and Discover, were each offering 5-year new issue, non-callable, brokered CDs @ 5.00%?

American Express is currently offering a 5-year @ 3.75% new issue, non-callable, brokered CD at Vanguard.
Reply
6
Kirkland
  |     |   377 posts since 2014
Yes, bought all three, Maturity dates Nov 9, 15, 16. Unfortunately though, I didn't go jumbo. ;)
Reply
4
w00d00w
  |     |   360 posts since 2012
is waiting for bond "vigilantes" anything like waiting for Godot? with about 4 months to go in the calendar year, The Bond King's prognostication back in the spring that the 10 year Treasury yield would reach 5% by end 2024 is looking particularly "off the mark." accurately predicting future interest rates is hard, even for the smartest guy in the bond world.
Reply
5
Kirkland
  |     |   377 posts since 2014
Yes, it is, a metaphor for hope. Maintaining liquidity allows action, if Godot arrives.
Reply
3


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