I will be discussing buying from your brokerage account on the secondary market - which is a lot simpler than buying new issues.
This is incorrect. You can always sell in $1000 increments. Just might now get the top price, but it will be almost the same. Will post a screenshot when market opens.
How is it simpler?
It showed minimums on the ones I tried to sell. That doesn't represent the minimum you need to sell? That represents what is available?
It’s simpler because you know beforehand the rate you are getting, the order goes through instantly, and you don’t have to buy at 1 month increments. I just bought on Friday a treasury that’s maturing on Feb 23.
My understanding is that you receive the interest when the T bill matures. So for arguments sake, wouldn't it be better to receive 4.3%, but every 4 weeks, which after 16 weeks is %4.3 x 4. Than 5.5%, but only once after 16 weeks.
If you click on the treasury you should have a whole long list.
Is this the "Depth of Book"?
By 1 month increments you mean in the secondary market I can buy 1 week, 2 week or just about xx weeks out?
Nice!!! I know some that deposited 7 figures. Hopefully they all get it.I wonder for how long?ETA:https://www.doctorofcredit.com/primis-bank-5-03-checking-savings-accounts/Update 2/17/23: They are now sending out an official email confirming that the 5.03% rate will remain (at this time) for those who got the account while that rate was being advertised.
Bad idea to deposit 7 figures. It is only FDIC insured up until 250k or 500k for joint accounts. I would not put in more than the FDIC insured limits with a Bank that does not yet have a long proven track record. Especially when they are handing out higher interest rates then all other banks..
Trying to test this out, what's the best broker?
VUSXX looks to be better and also exempt from state taxes.
Important Note: Income generated from investments in repurchase agreements with the federal reserve are generally subject to state and local income taxes.
VYFXX is lower but completely tax free (fed, state,city) which may be better for many in NY.Still not as high as T bills but easier.
Not accurate.Currently a little over 23% of holdings.Free of state tax for NY residents.
According to bogleheads vyfxx is completely tax free for ny residents.
Correct. As a NY Muni MM fund it is totally tax free for NY residents. It is free of Federal Tax for residents of other states. It is not the only NY Muni MM fund out there.
Yes but currently the highest yielding iinm
Seems that way, but might not be available on all platforms. Schwab has SWYXX.One needs to see what is available on the platform they use. Where available (without transaction fees), the Vanguard MM funds seem to have the best 7-day yields.
