As of 10 am EST 10/09/2024, 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: 4.55% (Mizrahi Tefahot Bank CA, Umpqua Bank OR)
6-month: 4.45% (Mizrahi Tefahot Bank CA)
9-month: 4.15% (Live Oak Banking Company NC – monthly, Sturgis Bank & Trust MI – monthly, City National Bank of Florida FL, Hingham Institution for Savings MA)
1-year: 4.05% (The Piedmont Bank GA – monthly sold out), 4.00% (Safra National Bank of NY NY, MSB, MSPB, Parkway Bank and Trust Company IL, U.S. Bank NA MN)
18-month: 4.00% (Farmers State Bank IN – monthly 17-month sold out), 3.95% (Live Oak Banking Company NC – monthly), 3.90% (MSB, MSPB)
2-year: 4.00% (Bank Brenham TX), 3.85% (Bank Hapoalim BM NY, National Bank of Commerce WI – monthly, UBS – monthly)
3-year: 4.00% (Texas Exchange Bank TX – monthly), 3.85% (Customers Bank PA), 3.80% (UBS – monthly), 3.75% (MSB, MSPB)
4-year: 4.00% (Texas Exchange Bank TX – monthly), 3.85% (Customers Bank PA), 3.75% (UBS - monthly)
5-year: 3.75% (Customers Bank PA, 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: Texas Exchange Bank TX is offering 2 ½-year, 3-year, and 4-year at 4.00% interest payable monthly, which leaves both UBS Bank USA and MSB, MSPB much lower rates in the dust.
For those staying liquid, here are the previous ten weekly 4-week T-bill auctions most recently yielding investment rates: 4.839%, 4.783%, 4.783%, 5.053%, 5.171%, 5.263%, 5.335%, 5.355%, 5.381%, 5.381%.
As of October 2, 2024, ICI reported to the Federal Reserve that $6.46 trillion of cash is parked in money market funds. This is an increase of $38.67 billion from the prior week. Current Money Market yields at Vanguard are (VMFXX (Settlement fund) 4.83%, VUSXX 4.92%, VMRXX 4.84%).
