FDIC Backs Plan on Key Bank Capital Rule Affecting Treasuries
The Federal Deposit Insurance Corp. advanced regulators' plan to ease a key capital rule that big banks have said limits their ability to act as intermediaries in the $29 trillion Treasuries market.
The FDIC announced on Friday that it had backed the proposed revisions to what's known as the enhanced supplementary leverage ratio, which requires banks to hold a certain amount of capital relative to their assets.
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Yahoo
an hour ago
- Yahoo
Best CD rates today, June 27, 2025 (up to 5.5% APY return)
See which banks are currently paying the highest CD rates. If you're looking for a secure place to store your savings, a certificate of deposit (CD) may be a great choice. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely. Learn more about CD rates today and where to find high-yield CDs with the best rates available. Today's CD rates vary quite a bit. In general, however, CD rates are beginning to decline due to the Fed's decision to cut its benchmark rate three times in the later part of 2024. Even so, some banks are still offering competitive CD rates. For those that are, top rates reach about 4% APY. This is especially true for shorter terms of one year or less. As of June 27, 2025, the highest CD rate is 5.5% APY, offered by Gainbridge® on its 5-year CD. There is a $1000 minimum opening deposit required. Here is a look at some of the best CD rates available today from our verified partners: This embedded content is not available in your region. Compare these rates to the national average as of June 2025 (the most recent data available from the FDIC): Compared with today's top CD rates, national averages are much lower. This highlights the importance of shopping around for the best CD rates before opening an account. Online banks and neobanks are financial institutions that operate solely via the web. That means they have lower overhead costs than traditional brick and mortar banks. As a result, they're able to pass those savings on to their customers in the form of higher interest rates on deposit accounts (including CDs) and lower fees. If you're looking for the best CD rates available today, an online bank is a great place to start. However, online banks aren't the only financial institutions offering competitive CD rates. It's also worth checking with credit unions. As not-for-profit financial cooperatives, credit unions return their profits to customers, who are also member-owners. Although many credit unions have strict membership requirements that are limited to those who belong to certain associations or work or live in certain areas, there are also several credit unions that just about anyone can join. Whether or not you should put your money in a CD depends on your savings goals. CDs are considered a safe and stable savings vehicle — they don't lose money (in most cases), are backed by federal insurance, and allow you to lock in today's best rates. However, there are some drawbacks to consider. First, you must keep your money on deposit for the full term, otherwise you'll be subject to an early withdrawal penalty. If you want flexible access to your funds, a high-yield savings account or money market account might be a better choice. Additionally, although today's CD rates are high by historical standards, they don't match the returns you could achieve by investing your money in the market. If you're saving for a long-term goal such as retirement, a CD won't provide the growth you need to reach your savings goal within a reasonable time frame. Read more: Short- or long-term CD: Which is best for you? This embedded content is not available in your region.
Yahoo
2 hours ago
- Yahoo
Best high-yield savings interest rates today, June 28, 2025 (earn up to 4.31% APY)
Find out how much you could earn with today's savings rates. The Federal Reserve cut its target rate three times in late 2024, which means savings interest rates are falling. So it's important to be sure you're getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.42%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%. Although the national average savings interest rate is fairly low compared to other investments, the best savings rates on the market today are much higher. In fact, some of the top accounts are currently offering 4% APY and up. As of June 28, 2025, the highest savings account rate available from our partners is 4.31% APY. This rate is offered by VIO Bank and there is no minimum opening deposit required. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your region. The amount of interest you can earn from a savings account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (savings account interest typically compounds daily). Say you put $1,000 in a savings account at the average interest rate of 0.42% with daily compounding. At the end of one year, your balance would grow to $1,004.12 — your initial $1,000 deposit, plus just $4.12 in interest. Now let's say you choose a high-yield savings account that offers 4% APY instead. In this case, your balance would grow to $1,040.81 over the same period, which includes $40.81 in interest. The more you deposit in a savings account, the more you stand to earn. If we took our same example of a high-yield savings account at 4% APY, but deposit $10,000, your total balance after one year would be $10,408.08, meaning you'd earn $408.08 in interest. Read more: What is a good savings account rate? This embedded content is not available in your region.
Miami Herald
13 hours ago
- Miami Herald
S&P 500 hits record high after $10 trillion rally
Wall Street traders dodged a flurry of tariff headlines to drive stocks to all-time highs, capping a week that saw a cooling in Middle East risks and signs the U.S. economy is holding up amid subdued inflation. A rally in Treasuries stalled. The dollar advanced. A surge in equities after April's tariff-fueled meltdown drove the S&P 500 to its first record since February, with the gauge closing above 6,170. Tech megacaps led gains, with Nvidia Corp. approaching the $4 trillion mark and Alphabet Inc. up almost 3%. President Donald Trump touted progress on trade deals with a few countries, naming agreements with China and the UK, while saying he was ending discussions with Canada. The loonie slid. Trump in April put tariffs on dozens of American trading partners on pause for three months a week after declaring them, when investors panicked over the possibility they could trigger a global recession. An over $10 trillion surge in the S&P 500 from the edge of a bear market has defied Wall Street expectations, underscoring conviction that the economy is withstanding policy uncertainty. 'U.S. equities have continued to recover from the tariff induced selloff in March and April,' said David Lefkowitz at UBS's Chief Investment Office. 'We think the recovery makes sense, considering that most large-cap companies should weather the tariffs reasonably well.' Treasury Secretary Scott Bessent signaled there may be some extensions to wrap up major pacts by Labor Day. European Commission President Ursula von der Leyen told EU leaders behind closed doors she was confident a deal could be reached before the deadline, according to people familiar with the matter. And China confirmed details of a trade framework with Washington. On the economic front, consumer sentiment rose sharply in June to a four-month high and inflation expectations improved notably. Data also showed that while the core personal consumption expenditures price index rose slightly more than expected, the pace was seen as consistent with tame price pressures that will allow the Federal Reserve to resume its rate cuts later this year. 'A window of opportunity is more likely to open at one of the final three policy meetings of the year - in September, October or December - when the impact of tariff increases on inflation becomes clearer,' said Gary Schlossberg at Wells Fargo Investment Institute. Fed Chair Jerome Powell told lawmakers this week that he expects inflation to pick up in June, July and August as tariffs become increasingly reflected in consumer prices, though he added if that prediction fails to materialize, the U.S. central bank could resume rate reductions sooner rather than later. Money markets continued to project at least two Fed cuts by the end of this year. Wagers on a third reduction could gain momentum if next Thursday's jobs report is weak. To Bret Kenwell at eToro, the latest PCE reading showed that inflation is still not spiraling out of control. However, it did snap a three-month streak of lower year-over-year readings, while last month's figures were revised higher. 'Today's inflation report shouldn't be enough to give markets a significant scare, but it probably dashes the slim hopes investors had for a July rate cut,' Kenwell said. 'Further, it may give investors a bit of hesitation with stocks surging into record high territory as we near quarter-end.' Kenwell says that stocks can do pretty well in a mild-inflationary environment. 'The key will be a reassuring earnings cycle and a strong consumer as we go into the second half of the year,' he noted. Indeed, with earnings season just weeks away, stocks will get a major test. Wall Street sees profit growth of 2.8% year-over-year for the second quarter for the benchmark, according to data compiled by Bloomberg Intelligence. That would be the smallest jump in two years. The lackluster forecasts magnify concerns from some market watchers that valuations are stretched. The risk of a speculative stock bubble is increasing as expectations of rate cuts draw massive investment flows, according to Bank of America Corp.'s Michael Hartnett. Already this year, $164 billion has flowed into U.S. equities, on course for the third-largest annual inflow in history, he said, citing data from EPFR Global. Corporate Highlights -Nike Inc. said its yearlong sales decline is starting to ease, suggesting that Chief Executive Officer Elliott Hill's strategic moves are paying off. -Apple Inc. and Google's Android have been warned by a top German privacy regulator that the Chinese AI service DeepSeek, available on their app stores, constitutes illegal content because it exposes users' data to Chinese authorities. -Two years after Nvidia Corp. made history by becoming the first chipmaker to achieve a $1 trillion market capitalization, an even more remarkable milestone is within its grasp: becoming the first company to reach $4 trillion. -JPMorgan Chase & Co. shares have soared from an April low on a grab bag of positive developments, but to Baird analysts that's too far, too fast. They downgraded the lender to underperform from a neutral rating, giving the stock its second sell rating. -Shares of Boeing Co. are set to make gains as the company speeds up production of commercial aircraft and takes steps to move on from a series of crises in recent years, according to Rothschild & Co. Redburn, which raised the recommendation on the shares to buy. -Estee Lauder Cos. was raised to buy at HSBC, which sees the cosmetics company at the end of a downgrade cycle. -B. Riley Financial Inc. has sold its financial advisory services business GlassRatner to Canadian private equity firm TorQuest Partners, adding to a series of asset sales as the financial services firm deals with its woes. -Alibaba Group Holding Ltd. unveiled a new iteration of its artificial-intelligence technology that will make it easier for users to generate and modify images from texts and visuals, as the Chinese e-commerce giant continues its aggressive push into AI. Some of the main moves in markets: Stocks -The S&P 500 rose 0.5% as of 4 p.m. New York time -The Nasdaq 100 rose 0.4% -The Dow Jones Industrial Average rose 1% -The MSCI World Index rose 0.6% -Bloomberg Magnificent 7 Total Return Index rose 1.1% -The Russell 2000 Index was little changed Currencies -The Bloomberg Dollar Spot Index rose 0.1% -The euro was little changed at $1.1709 -The British pound fell 0.1% to $1.3709 -The Japanese yen fell 0.2% to 144.72 per dollar Cryptocurrencies -Bitcoin fell 0.8% to $106,926.43 -Ether fell 1.2% to $2,416.73 Bonds -The yield on 10-year Treasuries advanced three basis points to 4.27% -Germany's 10-year yield advanced two basis points to 2.59% -Britain's 10-year yield advanced three basis points to 4.50% Commodities -West Texas Intermediate crude fell 0.1% to $65.15 a barrel -Spot gold fell 1.7% to $3,270.92 an ounce Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
