Switch to 8, 13 and 17 week Tbills. My most recent purchase of the 8 week was around 4.5%, and the 17 week was at 5%.
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Well, I don’t chase the top bank accounts, so the 4-week T-Bill is still my best option.
I was waiting to see what would happen to yesterday’s rates and switched to 8-week in time for today’s auction. I’m keeping an eye on all of them to see what makes sense, but most likely will stick to short term as I’m hoping to find a better place for my cash at some point, hopefully some rental(s).
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Well, ok, the next question is: Do you feel comfortable holding T-Bills into July? If the House defaults on the debt it would happen after July. I’m not comfortable enough to hold T-Bills from after July until after the budget standoff is over.
If the House defaults? Can the House default on it’s own? If I’m not mistaken, the entire Congress has to vote on the debt explosion/extension/balloonicide. Regardless, I have no problems investing in shorter term (<52 weeks) Tbills. I certainly will not invest in 30 year bonds, regardless of the rate or what happens in the short term debt explanation/extension/explosion.
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Sorry for the off-topic, but are you thinking of buying rental property in California?
Possibly. I’m also looking out of state. But mostly I’m procrastinating, because prices are too high relative to affordability.
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My point is if there is a default that means a default on paying the treasuries. A default could happen after July. Aren’t you worried about holding treasuries with the possibility of default?
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Ah! Sorry for being obtuse. I have no concern whatsoever that a default will occur. Not only are their not enough people in Congress who are concerned with the debt, I don’t think most of those who are concerned enough can stand the heat that will be brought to bear against them.
Finally, Joseph Robinette Biden won’t let it happen on his watch. That doesn’t mean he will reduce his spending or slow government expansion/control one iota. He will come up with something zany like minting the trillion dollar coin, which should stay tied up in the courts until after the election.
Really finally, presuming there was a default, about the only thing that I can think might weather, or rise above, the storm would be foreign funds/bonds. U.S. interest rates would skyrocket and inflation would be as bad as the Weimar Republic. All fixed income in the U.S. would be practically worthless.
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If you’re worried about a default, you should be worried about holding anything in USD.
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Total Direct MM was 5.05% now DOWN to 4.50%
First Internet Bank Savings was 4.65% now 4.93%(balances 1M and over)
Wealthfront Savings was 4.05% now 4.30%
Sallie Mae MM was 3.80% now 4.05%
Rising Bank Savings was 3.75% now 4.25%
Sallie Mae Savings was 3.70% now 3.95%
Live Oak Bank Savings was 3.50% now 4.00%
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The Atlantic FCU MM(via SaveBetter) was 4.50% now 4.65%
mph Bank MM(via SaveBetter) was 4.25% now 4.41%
Liberty Savings Bank Savings(via SaveBetter) was 4.15% now 4.31%
Empower Personal Cash was 4.10% now 4.25%
Tab Bank Savings was 4.06% now 4.40%
b1 Bank Savings was 3.80% now 4.35%
Bank7 Savings was 3.30% now 3.50%
Ponce Bank MM(via SaveBetter) was 3.25% now 4.80%
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Got an email today that CIBC is now up to 4.27%.
FZDXX 7-day yield is at 4.63% now.
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Western Alliance Bank Savings(via SaveBetter) was 4.75% now 4.80%
Mission Valley Bank Savings(via SaveBetter) was 4.71% now 4.80%
Blue FCU MM(via SaveBetter) was 4.42% now 4.66%
Ivy Bank High Yield Savings was 4.25% now 4.50%
Salem Five Direct Savings was 4.10% now 4.61%
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The 4 Week Treasuries auction had a big bounce this morning… (up to 4.693% before the benefit of no state tax is taken into consideration)… was 4.233% last week.
https://www.treasurydirect.gov/auctions/announcements-data-results/
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CIT Bank Platinum Savings was 4.40% now 4.75%
Great Lakes Credit Union MM(via SaveBetter) was 4.40% now 4.60%
CIT Bank Savings Connect was 4.20% now 4.50%
TIAA Bank Savings was 3.70% now 3.85%
TIAA Bank MM was 3.55% now 3.70%
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Patriot Bank MM was 4.75% now 4.80%
The Atlantic FCU MM was 4.65% now 4.75%
Republic Bank of Chicago was 4.60% now 4.63%
Vio Bank MM was 4.50% now 4.55%
Popular Direct Savings was 4.45% now 4.55%
mph Bank MM was 4.41% now 4.60%
Western Bank MM was 4.40% now 4.55%
The State Exchange Bank Savings was 4.35% now 4.70%
Liberty Savings Bank Savings was 4.31% now 4.50%
Bank Purely MM was 4.12% now 4.34%
iGo Banking MM was 4.12% now 4.34%
TIAA Bank Savings 1 year intro 4.25%(no change to ongoing rate of 3.85%)
TIAA Bank MM 1 year intro 4.25%(no change to tiered ongoing rate schedule)
ETrade Savings was 3.50% now 3.75%
Capital One Savings was 3.40% now 3.50%
Self Help CU MM was 2.44% now 2.63%
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New savings account from Elements Financial CU. Balances of $10,000.00 and above will earn a fixed promotional Annual Percentage Yield (APY) of 4.25% until October 31, 2023.
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Bump
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Thanks @harish7631!
Hanover Bank MM(via SaveBetter) was 4.65% now 4.85%
Vio Bank MM was 4.55% now 4.77%
SFGI Direct Savings was 3.81% now 4.01%
Also 2 new banks/credit unions on the SaveBetter platform:
First Financial Northwest Bank MM 4.85% https://www.savebetter.com/banks/first-financial-northwest-bank
Connexus Credit Union Savings 4.75% https://www.savebetter.com/credit-unions/connexus-credit-union
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New 5% account from Newtek Bank - Newtek Bank, N.A. Savings Annual Percentage Yield (APY) is valid as of today. No minimum opening balance or deposit required to open. Rates may change at any time without prior notice, before or after the account is opened. No minimum balance to open, but customers must have a balance of $0.01 to earn interest. You may make up to 6 withdrawals from your Newtek Bank, N.A. Savings account per statement cycle, including preauthorized, automatic and telephone transfers.
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