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1 year CDs now topping 3%


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#1 Rogerdodger

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Posted 29 September 2022 - 02:17 PM

UK's market chaos, contagion risk

The BOE purchased $1.07 billion of securities maturing in 20 years or more and added that it will be buying up to $5.31 billion a day until October 14. This means that the bailout could rise to around 65 billion pounds ($69 billion) of long-dated gilts.

Truss is facing a collapse in the pound, a massive market selloff, a surge in borrowing costs, deep recession risks, and a housing market crash. This week, sterling plunged to record lows against the U.S. dollar.

The symptom (dislocations in the gilt market) may have been addressed, but the underlying malady (irresponsible fiscal policy) continues to fester.

 

 

Barclays at 3%

Capital one at 3.25%


Edited by Rogerdodger, 29 September 2022 - 02:21 PM.


#2 fib_1618

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Posted 29 September 2022 - 03:17 PM

With the FED on a collision course for disaster right now, I wouldn't lock in any CD investments right now.

 

There are, however, high interest rate savings accounts out there online (only) with low minimums and no lock-ins.

 

Currently, the highest rate in the country that I've found is at Bask Bank at 2.75%, and they tend to move in advance of expected Fed increases by about 2 weeks.

 

Oh, and let's not forget that 1 year T-Bills are currently at 4%, although, not quite at their peak as yet.

 

Fib

 


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#3 pdx5

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Posted 29 September 2022 - 03:18 PM

hah I remember buying a tranche of municipals and receiving double digit interest EXEMPT FROM FEDERAL INCOME TAX.

that was long ago. We might get there again if inflation persists.


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#4 fib_1618

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Posted 29 September 2022 - 03:54 PM

As long as the current administration and Congressional body continues to promote inflation, there's really no telling when inflation will end...or even if it will.

 

The raising of rates to fight this politically created inflation does nothing except cripple commerce and capitalism as a whole...and that's the objective in all this.

 

Fib


Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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#5 pdx5

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Posted 29 September 2022 - 04:32 PM

As long as the current administration and Congressional body continues to promote inflation, there's really no telling when inflation will end...or even if it will.

 

The raising of rates to fight this politically created inflation does nothing except cripple commerce and capitalism as a whole...and that's the objective in all this.

 

Fib

You are exactly right. The politicians and FED are building a bridge to nowhere. 

In a way they are playing a game of chicken to see who will blink first.

 

May be, I should take that back. I don't think Biden is fully aware of what is going on.

He simply reads and follows the cue cards. Yesterday he was looking for a congresswoman in the crowd

who died several days ago.


Edited by pdx5, 29 September 2022 - 04:34 PM.

"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#6 Rogerdodger

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Posted 29 September 2022 - 08:10 PM

I wouldn't lock in any CD investments right now.

 

I agree.

 

I remember Clark Howard's recommendation, getting me 9% on an online checking account!

 

(a few decades ago!)

 

I liked him ever since.

 

Of course inflation was even higher than that...  giveup.gif


Edited by Rogerdodger, 29 September 2022 - 08:12 PM.


#7 slupert

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Posted 30 September 2022 - 05:13 AM

 

I wouldn't lock in any CD investments right now.

 

I agree.

 

I remember Clark Howard's recommendation, getting me 9% on an online checking account!

 

(a few decades ago!)

 

I liked him ever since.

 

Of course inflation was even higher than that...  giveup.gif

 

Plenty of pros will lock, betting deflation is around the corner The problem is debt deflation might be around the corner as well. (JMHO)