As of 5 pm ET 11/07/2024, here are the highest rates from this week at either Charles Schwab brokerage and/or Vanguard brokerage for non-callable, new-issue brokered CDs with terms of 1-month, 3-month, 6-month, 9-month, 1-year, 18-month, 2-year, 3-year, 4-year, and 5-year:
1-month: 4.60% (Tradition Capital Bank MN)
3-month: 4.50% (Open Bank CA - monthly)
6-month: 4.40% (Associated Bank NA WI, BankPlus MS – monthly, HomeStreet Bank WA – monthly, Santander Bank NA DE)
9-month: 4.35% (Associated Bank NA WI, Santander Bank NA DE)
1-year: 4.20% (BankPlus MS – monthly, TCM Bank NA FL), 4.15% (GSB)
18-month: 4.10% (MSB, MSPB, Western Alliance Bank AZ)
2-year: 4.05% (BMW Bank of North America UT, MSB, MSPB), 4.00% (UBS - monthly)
3-year: 4.00% (American Express National Bank UT, GSB, Texas Exchange Bank TX – monthly, MSB, MSPB, UBS - monthly)
4-year: 4.00% (Texas Exchange Bank TX – monthly, UBS – monthly)
5-year: 4.00% (American Express National Bank UT, BMW Bank of North America UT, 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: In a unanimous decision today, the Federal Reserve cut 25 basis points to 4.50% - 4.75%. For those staying liquid, here are the previous ten (including today’s) weekly 4-week T-bill auctions most recently yielding investment rates: 4.594%, 4.660%, 4.732%, 4.783%, 4.834%, 4.839%, 4.783%, 4.783%, 5.053%, 5.171%.
As of November 6, 2024, ICI reported to the Federal Reserve that $6.59 trillion of cash is parked in money market funds. This is an increase of $79.49 billion from the prior week. Current Money Market yields at Vanguard are (VMFXX (Settlement fund) 4.73%, VUSXX 4.68%, VMRXX 4.75%).