Monday, April 28, 2008

Money Markets Paying More Than CDs

Bank of America recently rolled out a money market savings account paying a higher interest rate than their four month CDs. What that tells me is that Bank of America is counting on further interest rate reductions from the Federal Reserve.

Perhaps now that B of A owns Countrywide, they have an ever better crystal ball for seeing the extent the subprime shakedown. They are casting their bet that the Fed will continue to drop rates. Where are you casting yours?

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