Treasury rates inched down slightly at the close of Friday on September 11, 2009.  Six month Treasuries were unchanged with a yield of 0.21%.  The one year Treasury dropped by one basis point or 1/100 of a percent to close with a yield of 0.39%.  The five year Treasury was also unchanged at 2.29% while the ten year moved lower by two basis points to rest at 3.34%.

Overall, Treasuries ended the week up in price and down in yield.  The six month Treasury lost two basis points for the week, the one year lost three basis points, the five year Treasury shed seven basis points and the ten year dropped by eleven basis points.

It’s too soon to tell what impact this may have on bank CD rates.  While Treasury moved lower on the longer term, bank CD rates dropped short term and ever so slightly on the midterm with the remaining terms holding steady for the week.  Bank lending rates have drifted moderately lower over the past two weeks. 

The averages for the best CD rates available were little changed for the week with the two year bank CD rates down one basis point, the one and five year terms not moving and the six month CD rate average falling three basis points.  The averages of the best CD rates for the week stood at:

Six month term CD rate 1.69%
One year term CD rate 2.04%
Two year term CD rate 2.35%
Five year term CD rate 3.38%

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