On the one hand, rising interest rates are a headwind for risk assets. On the other hand, rising rates are great for savers.
I just got an update from CIT Bank that they have raised their money market account interest rate to 2.45% whoo hoo!
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2.45% is huge b/c the 10-year bond yield is only at 2.65% or so. But you've got to hold onto the 10-year bond yield for 10 years to guarantee your annual 2.65% return.
As someone who is cashed up, looking to buy a new house, this 2.45% is the market solution given I can withdraw freely whenever I find that perfect deal.
I just noticed the 12 month CD rate at Goldman Sachs is up to 2.75. That's a pretty good rate to start building a ladder. https://www.marcus.com/us/en/savings
I've been pleased with their online banking platform.