Since the central bank embarked on its rate-hiking campaign in March 2022, yields on fixed income instruments, ranging from Treasurys to money market funds and bank deposit products, have become more attractive.
Some strategists have suggested income-focused investors begin locking in higher rates so they can keep earning good yields once the central bank shifts gears.
Capital One recently pushed up the annual percentage yield on its 2-year CD 5 basis points to 4.35%.
As a result, a handful of institutions now offer yields of 5% or close to it for 2-year CDs.
See below for a table of 2-year CDs.
Persons:
Michael Kaye, Ally Financial, — CNBC's Michael Bloom
Organizations:
Federal Reserve, Financial, Delta Community Credit Union
Locations:
Wells