A long-shot currency-linked CD bets that four emerging market currencies will do better than the dollar over five years. Is it worth the risk?
CD rates are so low a worm couldn’t crawl under them, particularly in Pittsburgh, which boasted the lowest CD rates in the country for the month of May.
The only reason to buy a CD these days is for the piggy bank function. It keeps savers from spending money but doesn’t offer a lot in returns.
CD rates plumbed new depths in April. Rates varied though. Savers in Cincinnati had access to CD rates half a percent higher than people in Pittsburgh.
A federal judge orders Allen Stanford, perpetrator of a massive Ponzi scheme involving fake CDs, to pay $6.7 billion in penalties.
CD rates tend to be higher in areas bustling with economic activity. If that doesn’t describe your area, don’t despair — go online.
Credit unions offer savers a few advantages over banks including higher CD rates and lower rates on loans.
CD investors should pray against another round of QE, because it would likely mean CD rates even lower than today’s rates.