A few banks raised their yields on CDs, even as the Federal Reserve stood pat on rates for a second consecutive time.
Investors in search of a haven for cash still have attractive options available – even as the market becomes more certain that the Federal Reserve is done with its rate hikes. Marcus by Goldman Sachs and Synchrony Financial each raised the annual percentage yield on their 1-year certificates of deposit to 5.3% this past week, according to an analysis from Wells Fargo. Richer yields for the same length of time are available at Bread Financial , which offers an APY of 5.
"During 3Q23 earnings season many of the banks in our coverage universe also pointed to continued upward pressure on deposit costs going forward, even if the Fed is done hiking," wrote Morgan Stanley's Betsy Graseck in a client report earlier this week. CDs have the benefit of allowing customers to lock in rates for the life of the instrument, while banks can adjust the rate they pay on savings accounts at any time.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stock market today: Asian shares surge on hopes the Federal Reserve’s rate hikes are doneAsian shares are surging after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy. Benchmarks rose Thursday afternoon in Tokyo, Sydney, Seoul and Hong Kong, while declining slightly in Shanghai. Oil prices rose. U.S. stocks rallied Wednesday, with the S&P 500 rising 1.
Baca lebih lajut »
Stock market today: Global shares surge on hopes the Federal Reserve’s rate hikes are doneGlobal shares have advanced after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy.
Baca lebih lajut »
Stock market today: Global shares surge on hopes the Federal Reserve’s rate hikes are doneGlobal shares have advanced after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy.
Baca lebih lajut »
Powell: Federal Reserve to Leave Interest Rates UnchangedWall Street Journal Video includes original programming on-demand as well as news and features from reporters across the globe.
Baca lebih lajut »
Powell: Federal Reserve to Leave Interest Rates UnchangedWall Street Journal Video includes original programming on-demand as well as news and features from reporters across the globe.
Baca lebih lajut »