Treasury Yields Fall, Market Tanks and Only Cash is Safe

Rate information contained on this page may have changed. Please find latest savings rates.

Markets are tanking. This is a terrible time to be invested.

Stock markets are just beginning a long decent.

Commodities have done well, but that has been largely driven by hedge funds.  The funds will now sell to preserve gains (cover losses from equity markets).  There will be a cascading effect across all commodity classes which will be exascerbated by a global market decline.

Inflation is spiraling out of control.  The Fed is not addressing it, and now looks increasingly unlikely to do anything.  Treasury yields on 2 year, 5 year and 10 year Treasuries have fallen by 30 bps over the last week.  Your cash will earn less now in spite of inflation.

Cash is still the best place to be for the moment.  I think investors though should be jumping on some of the short term CD offerings before they go away (one year or less is my preference).  These rates are being held at these levels as banks compete for deposits, but they are unlikely to stay there now as we head into a deep, deep recession.

These are scary times folks.  It is OK to run for cover.

Check current savings rates here.

 

 


Everbank Money Market Rate to 4.76% intro APY and 3.51% Ongoing

Rate information contained on this page may have changed. Please find latest savings rates.

Everbank raised the rates on its money market and savings accounts today, continuing a general bank trend of rising rates.

Everbank raised the rates on its money market and savings accounts today, continuing a general bank trend of rising rates.  The Money Market intro rate increased from 4.01% APY to 4.76& APY.  This is a three month guaranteed intro rate.  After that, the rate falls to 3.51% APY, which is still pretty competitive and puts it at the top half of the BestCashCow savings and money market rate tables.

The balance on their FreeNet Checking Account also increased from 4.01% APY to 4.76% 3 month intro APY with a continuing rate currently at 3.51% APY.  

As we've mentioned before, the three month guaranteed rate is a great alternative to a 3 month CD.  The money is liquid and it rolls over to a competitive rate.  


Zions Bank on Deseret Money Market Account Up to 3.53% APY

Rate information contained on this page may have changed. Please find latest savings rates.

Rates are on the rise. Deseret Bank has raised the rate on its Deseret Money Market account to 3.53% APY.

Rates are on the rise. Deseret Bank has raised the rate on its Deseret Money Market account to 3.56% APY. The rate is competitive and is within the top 10 yielding money markets. The account is also competitive with a mimimum balance requirement of only $1000.

For more details on the bank and the rate see a good post on Bank Deals.