- MySavingsDirect (Emigrant Bank) [mysavingsdirect.com] - 4.35%
- Merchants Bank of Indiana [merchantsbankofindiana.com] - 4.34%
- Bask Bank [baskbank.com] - 4.25%
- UFB Direct [ufbdirect.com] - 4.21%
- Upgrade Premier [upgrade.com] - 4.13%
- Salem Five Direct [salemfivedirect.com] - 4.10%
- Capital One 360 Savings [capitalone.com] - 3.4%
- Robinhood Gold [robinhood.com] - 3.75% w/ $5/mo membership (Can't verify)
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The point I'm making is, if the Fed meets expectations (currently 50bps-50bps-25bps-pause) over the next 4 meetings, the rates will theoretically stay where they are.
To use a real-world example, it's the same reason why mortgage rates have been rising gradually and why they didn't suddenly rise 75bps yesterday or today upon the Fed hike announcement. It's because it was already priced in.
Edit: Note, I'm leaving quite a bit of nuance and detail out of this and am not picking on you in particular. I just see quite a bit of misunderstanding about how consumer interest rate products react to Fed overnight rate hikes and when.
Source: Work in finance
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Also, several US Agency bonds receive similar treatment (e.g. farm credit bonds). And of course, municipal bonds are generally free of federal tax, which can be a big deal if you're a high earner, as bond income can be taxed >40% (37% bracket + 3.8% Obamacare Tax/NIIT). So a 3% California municipal bond yield could feel like ~6% if you're a rich person in California.
I think it goes without saying, but you should do your own research and perhaps consult with a professional before making financial decisions. I'm trying to be helpful with what I know, but I'm not a professional and I might be wrong.
Best,
Sean
Last question, the secondary market guarantees you get the YTM at which you bought it, but if you go auction you dont know what the YTM until the auction date?
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The higher APY sometimes doesn't automatically apply to the existing accounts when it increase the APY for new account but a quick online chat with CSR usually will take care of it.
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Best,
Sean
Last question, the secondary market guarantees you get the YTM at which you bought it, but if you go auction you dont know what the YTM until the auction date?
The suspense is killing me!
Best,
Sean
4%, if you meet the monthly transaction quota. Just noting in case someone reading doesn't want to jump through hoops.
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