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Sovereign debt fears dominated the market news during the week.  Gold dropped over  $50 to $1053 per ounce.    

The Supreme Court has changed campaign finance rules in a big way and President Obama is trying to restart from scratch after the resounding defeat that occurred in MA.  The President has his plate full as he continues to push his health initiative, jobs, a huge budget and the wars on two fronts.  The President admitted on Friday that his health initiative may be dead in congress.

The question we're all asking is:  Will this be the year that cd rates finally move higher?   Unemployment dropped to 9.7% as some states started to report improved employment numbers.  Global investors are getting nervous as they get a hint of how much money the US is going to need to fund the deficit.  The 30 year Treasury bond has eased a little to 4.52%.  That all being said, cd rates remain low as the Fed continues it's policy of low rates to spur the economy forward with Fed Funds in the range of 0% to .25%. 

Several banks are now offering penalty free cd's (make sure to read the small print).  Rates on longer term CD's are starting to move up in conjunction with treasury rates. 

Some of the best cd rates available today are found at the following banks offering FDIC insured product for a 12 month term and displayed by annual percentage yield:

 Institution    APY
Colorado Federal Savings Bank   1.70

Ascencia

  1.71
Ally Bank   1.69
Discover Bank   1.75
AIG Bank   1.60
giantbank.com   1.71

Centennial Bank

  1.51
Heritage Bank   1.40
Bank of Internet USA   1.65
MetLife Bank   1.35
California First National Bank    1.50




In the future this table will be expanded to include many of the national banks and savings institutions with web banking facilities.  Be aware that the rates change daily and that there is no guarantee that the rates listed will be the same as those offered the day you check.  We will attempt to keep the table as up to date as possible.

 

 

 

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