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Halls of Shrewd'm / US Policy❤
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Author: rayvt ✧🐝  😊 😞
Number: of 671 
Subject: WoW! That was fast.
Date: 09/20/2024 10:52 AM
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The Fed mad a 50bp drop in rates yesterday.

Today UFBDirect dropped their savings account rate from 5.15% to 4.83%

Viobank dropped theirs from 5.30% to 5.20%
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Author: onepoorguy 🐝  😊 😞
Number: of 48465 
Subject: Re: WoW! That was fast.
Date: 09/20/2024 2:29 PM
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That shouldn't happen, right? It now costs less for the banks to borrow money. So they could -in theory- pay more interest to savers. Or, more likely, lower rates for borrowers.
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Author: hedgehog444 ✧  😊 😞
Number: of 48465 
Subject: Re: WoW! That was fast.
Date: 09/20/2024 4:33 PM
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I think it is the latter. They will be lowering rates for mortgages Real Soon Now so their income will decrease. So they lower their outflow immediately. Nice work if you can get it. Too bad about my 8-week T-bill that just renewed.
Rgds,
HH/Sean
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