Treasury rates were unchanged on the short end of the yield, mostly lower on the long end and the one year managed to go its own way with an increase in rate.  

The three month and six month Treasuries held steady with interest rates at 0.11% and 0.20%, respectively.  The one year Treasury gained two basis points or 2/100 of a percent to close at 0.42%.  The five year lost two basis points, closing at 2.45%.  The ten year shed three basis points bringing the yield down to 3.46%.

Rates are in holding pattern while the market awaits the release from this months Fed meeting.  Although, no significant news is expected there is some drama over how the Fed will word their position regarding market intervention and the fed funds rate.  Many economists are debating when interest rates will rise, they will be looking for clues on how the Fed word its position regarding economic growth and the continued stance of maintaining a low fed funds rate.  Some market participants are debating whether interest rates and bank rates will rise before 2011.  Larry Kudlow made an off the cuff statement questioning whether interest rates will rise during his lifetime.

CD rates were little changed in the past two weeks on the national level.  Regional bank rates and bank CD rates within individual states continue to move with some vigor but this is expected as banks continue to run promotional offers for above market rates.  These CD rate promotional offers are generally much more significant with state banks and regional banks as opposed to the big national banks.

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