As of 11:40 am ET 12/12/2024, 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, 5-year, 6-year and 8-year:
1-month: 4.55% (ConnectOne Bank NJ), 4.50% (Centreville Bank RI), 4.45% (Bangor Savings Bank ME, ESSA Bank & Trust PA)
3-month: 4.50% (Associated Bank NA WI, Flushing Bank NY, Trustmark National Bank MS)
6-month: 4.40% (Associated Bank NA WI, BankProv MA – monthly, Dogwood State Bank NC, SouthEast Bank TN, SouthPoint Bank AL – monthly, The Piedmont Bank GA - monthly)
9-month: 4.40% (Associated Bank NA WI, SouthPoint Bank AL – monthly, The Piedmont Bank GA – monthly, SCHW)
1-year: 4.25% (Mercantile Bank MI, Open Bank CA - monthly), 4.20% (Fidelity Bank LA – monthly, Washington Financial Bank PA)
18-month: 4.20% (Live Oak Banking Company NC – monthly, Optum Bank Inc. UT, Western Alliance Bank AZ, Eh National Bank CA – monthly)
2-year: 4.15% (Live Oak Banking Company NC – monthly, Merrick Bank UT – monthly), 4.10% (DR Bank CT – monthly, Bank Hapoalim BM NY)
3-year: 4.15% (State Bank of India NY), 4.10% (Sallie Mae Bank UT)
4-year: 4.05% (BMW Bank of North America UT, Optum Bank Inc. UT, Texas Exchange Bank TX – monthly)
5-year: 4.10% (Sallie Mae Bank UT, State Bank of India Chicago IL)
6-year: 4.15% (Celtic Bank UT – monthly)
8-year: 4.15% (Celtic Bank UT – 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: As we near the final SEP planned Fed cut of the year, many of the highest short-term cd rates sold out. For those staying liquid, here are the previous ten, including today’s, weekly 4-week T-bill auctions most recently yielding investment rates: 4.313%, 4.476%, 4.630%, 4.609%, 4.589%, 4.594%, 4.660%, 4.732%, 4.783%, 4.834%.
As of December 4, 2024, ICI reported to the Federal Reserve that $6.77 trillion of cash is parked in money market funds. This is an increase of $95.86 billion from the prior period measurement date of 11/26/24. Current Money Market yields at Vanguard are (VMFXX (Settlement fund) 4.55%, VUSXX 4.51%, VMRXX 4.56%).