"ETrade Boosts Some Rates" reports The Wall Street Journal

Dec 01 07

"E-Trade Boosts Some Rates" reports The Wall Street Journal. E*Trade, among the most embattled of the "bankerages" (brokerage with bank), raised its savings rates to 5.05% APY and its 6-month CD to 5.25%. The Jane Kim article says, "Still, consumers have been spared much of the decline in market rates, partly because of the continued tightness in credit markets and banks'
eagerness to attract consumers' deposits. Average yields on money-market mutual funds have dropped to 4.57% from 5.06% in mid-September, says Peter Crane of Crane Data LLC. By contrast, with a federal-funds rate at 4.50%, average yields on money funds would typically be around 4.25%, he says."

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