The Federal Reserve's interest rate hikes starting in March 2022 led to a sharp runup in yields on Treasurys.
Rates on a range of otherwise plain vanilla investments also rose sharply, with money market funds offering yields exceeding 5%, and some banks boosting their CD yields to lure deposits.
See below for a table of longer-term CD yields and where you can get them.
There's also a tradeoff: You can collect this higher yield, but you'll have to be comfortable with reduced access to your money.
By locking in an 18-month or 24-month CD, savers can benefit from today's higher yields well after the Fed begins dialing back rates.
Persons:
Banks, Sallie Mae, Morgan Stanley's Betsy Graseck, There's
Organizations:
Ally