4 replies to this topic

[vivyip]

I was watching CNBC and someone said the economy wasn't strong enough to handle the raising rates. So, the result was that the fed wasn't going to raise the rates as fast anymore or might even drop it back down a little...

Now, I was curious about that comment because I was just hoping that the next rate hike would still come and not drop.

However, I just noticed ING Direct just adjusted it's CD rates again.

1 year went up
2 year stayed
3-5 years dropped.


Would that make ING Direct a layman's indicator of the direction of interest rates or would it mean ING is changing the rates for other reasons?

Please move this to off topic if you feel this post/thread is inappropriate for this section.

Thank you for reading this.

[markcov]

My guess is more of a supply and demand issue. They drop rates when they have too many accounts and can't guarantee the return they were offering to any more accounts.

[vivyip]

So does this mean ING Direct has too many accounts again? =(

It's kinda the second drop...

1 and 2 year stayed.
3-5 years dropped.

Personally, this definitely encourages me to just stay with short-term CDs...(or bonds) since the spread is so small

[vivyip]

1 year went up, but everything else dropped again...

[SanteeClause]

Hello everyone !

as i'm Rather Fond of Saying:
It's All Bout Politics,so Don't Believe a Word of it !

If you Do a lil Hoework,you'll Find that Our Economy is at,Ready for This?,

$11Trillion and Some Joker tells you we're Not Strong Enough ?

the Second ranked economy is Japan,but They Lag behind Us at:
Only $4.5-$5.5Trillion,so don't Listen to any o those jerks!

in the World of Finance,you'll Knock your Sox off when you Find:

Our institutions Are the Best in the World ! No i'm Not Bashing others,
Just telling you the Facts ! the Top Ten U.S.Banks Control $100Trillion in Assets!

that's just the top Ten ! Who do you Think is Responcible for your Pensions,
or Insurance Coverage ? it Don't Grow on Trees ya know !

Just keep This in Mind and you'll Never go Wrong:

We,the People,ARE the economy! All Others exist to Serve Our needs !
by the Way: When was the Last time You started a business ? Just Do it !

your Friend in Banking:
SanteeClause