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The Best CD Rates and Treasury Yields This Week
 

The Best CD Rates and Treasury Yields This Week

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As the equities markets continue to rally, the current best CD rates available remain at the same level as last week. The Dow Jones Industrial Average made a record high recently and the S&P 500 also made a record high. The same can't be said for interest-bearing assets like certificates of deposit, U.S. Treasury yields, and other deposit accounts.

The Best CD Rates and Treasury Yields This WeekThe best CD rates in our 1 year certificates of deposit database remain above 1.00 percent. GE Capital Retail Bank is current offering 1 year CD rates at 1.04 percent with an APY of 1.05 percent. The current national average CD rate on 1 year certificates of deposit is lower at 0.21 percent.

The best 1 year rates in our database are much higher than 12 month U.S. Treasury yields and are also higher than the national average CD rates. 12 month yields closed on May 7th at 0.10 percent, down from Monday's average yield of 0.11 percent.

2 year bank CD rates for the week ending May 6 averaged 0.34 percent, unchanged from the previous week's average 2 year rate. The highest CD rates in our 2 year certificate of deposit database are almost 4 times the average bank rate. CIT Bank is currently offering 2 year rates at 1.19 percent with 1.20 percent. 24 month U.S. bond yields closed at 0.22 percent today.

Bond yields of 36 months and longer have risen considerably since the beginning of May. 36 month bond yields closed at 0.35 percent on May 7th, an increase from Monday's average rate of 0.34 percent and up from the May 1st average of 0.30 percent. 36 month yields are up 5 basis points, or just over 16 percent higher in May.

Although 36 month yields have moved considerably higher the past 5 days, current yields are still lower than the national average and the best 3 year CD rates available. The current national average 36 month CD rate is at 0.46 percent, unchanged from last week's average rate. The best 3 year rates on our rate list are from Virtual Bank at 1.30 percent with an APY of 1.31 percent.

The highest 4 year CD bank rates on our rate list this week are from Nationwide Bank at 1.45 percent with an APY of 1.46 percent. The current national average 4 year CD rate is at 0.58 percent.

Average 5 year CD bank rates this week are at 0.75 percent, unchanged from last week's average 5 year rate. The best 5 year CD rates in our database are at 1.59 percent with an APY of 1.60 percent. 5 year bond yields closed on Tuesday at 0.75 percent, the same level as the average 5 year CD rate. 5 year bond yields are 10 basis points higher since May 1st.

Author: Brian McKay
May 8th, 2013