Episode 169: Banks still relying on high-rate CDs

This episode examines an article from S&P Global titled “Depositories banking on rate cuts, but growing number marketing high-rate CDs” by Thomas Mason. The article details how banks and credit unions are positioning themselves for rate cuts from the Fed by favoring short-term deposit products. The main ones being premium money market accounts and 6-to-12-month CDs. APY’s on these products peaked in the 4^th quarter of 2023 at 5% and have settled into the 4% range.