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EQ Bank GIC's Up a Little Bit
June 17, 2022
5:59 am
cgouimet
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1Yr 3.75%->3.85%
2Yr 4.35%->4.40%
3Yr 4.40%->4.45%
4Yr 4.40%->4.45%
5Yr 4.40%->4.50%

HISA still 1.50%

CGO
June 17, 2022
6:18 am
Bruford
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HISA is critical for me, no way I am locking in in this environment. EQ still doesn't cut it.

June 17, 2022
6:24 am
cgouimet
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Bruford said
HISA is critical for me, no way I am locking in in this environment. EQ still doesn't cut it.  

I hear you ...

CGO
June 17, 2022
7:53 am
AllanB
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FIs are trying to grind your overall yield down

June 17, 2022
8:03 am
cgouimet
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AllanB said
FIs are trying to grind your overall yield down  

They're running a business managing their Costs (Interest Paid) relative to competitors so as to maintain their Revenue and Balance Sheet to what they need. Any business that doesn't do this well doesn't last ...

You and I do the same thing - we shop or borrow at the lowest cost and invest where we get the best return/risk balance ...

CGO
June 18, 2022
7:38 am
Norman1
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EQ Bank obviously doesn't need HISA money right now, with their HISA at 1½%. I would consider moving funds elsewhere until that changes.

Hubert is offering 2.05% on their HISA. Perhaps, one can commit some funds for 31 days and put such funds into a one-year cashable GIC at TD or CIBC for 2%.

If one can commit for three months, Hubert is paying 3.1% for the first quarter of its one-year cashable term.

June 18, 2022
7:49 am
Vatox
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I love EQ, but my available cash is at Tang for 2.2%

June 18, 2022
7:56 am
savemoresaveoften
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Bruford said
HISA is critical for me, no way I am locking in in this environment. EQ still doesn't cut it.  

If u get 2% for HISA vs locking in 1y at 3.85%, u r losing out 185 bps every day u wait. Do your break even analysis, waiting does not always win even in current environment.

It’s clear FIs right now are only interested in fixed term funding, as they need reliability to manage their funding cost in a rising rate environment.
The HISA will only be attractive to the FIs when rate market is not moving much, or a rate drop cycle.

June 18, 2022
9:30 am
Dean
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Vatox said

I love EQ, but my available cash is at Tang for 2.2%  

Right now Hubert's 1Yr cashable GIC (first quarter gets you 3.10%) is a Very Good short term alternative.

Check it out https://www.happysavings.ca/products/terms/one-year-terms/

    Dean

sf-cool " Live Long And Prosper " sf-cool

June 18, 2022
12:02 pm
Bill
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If you move your 1.5% HISA to 3.85% 1-year term you'll probably be way ahead in 365 days, even should HISA rates really rise. Waiting or going elsewhere at lower rates, e.g. Hubert at 3.1% for 3 months, same thing. If you're going longer term different thing, you can wait a bit, but 1 year goes by quick, waiting/underperforming days cost you relatively more.

June 18, 2022
3:45 pm
dougjp
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Bill said
If you move your 1.5% HISA to 3.85% 1-year term you'll probably be way ahead in 365 days, even should HISA rates really rise. Waiting or going elsewhere at lower rates, e.g. Hubert at 3.1% for 3 months, same thing. If you're going longer term different thing, you can wait a bit, but 1 year goes by quick, waiting/underperforming days cost you relatively more.  

I put my TFSA into a 3.80% for that very reason, a 2.3% gap widens very fast initially and builds a buffer vs. waiting. I have no doubt waiting will get a higher rate from that point onward, but I've "put it to bed" and now focus on non TFSA GIC short term (only) laddering.

Why is 'abbreviation' such a long word?

June 19, 2022
8:11 am
Bruford
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Bill said
If you move your 1.5% HISA to 3.85% 1-year term you'll probably be way ahead in 365 days, even should HISA rates really rise. Waiting or going elsewhere at lower rates, e.g. Hubert at 3.1% for 3 months, same thing. If you're going longer term different thing, you can wait a bit, but 1 year goes by quick, waiting/underperforming days cost you relatively more.  

When the US Fed just raised 0.75% and the Canadian BOC about to do the same, and inflation still rising, I think waiting is a good decision.

June 19, 2022
9:58 am
Dean
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Bruford said

When the US Fed just raised 0.75% and the Canadian BOC about to do the same, and inflation still rising, I think waiting is a good decision.  

I'm with Bruford sf-smile

With the $$$ I have that isn't locked-up in GICs, etc., I expect to stay Short at least throughout most of the summer.

For some of us right now ... Cash is King ❗

    Dean

P.S.
Like several others here, I'm Really liking
Hubert's cashable 1Yr GIC (first quarter
gets you 3.10%).

sf-cool " Live Long And Prosper " sf-cool

June 19, 2022
12:31 pm
Bruford
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Exactly, cash is king, not only for waiting for higher interest rate opportunities, but other discounted opportunities,.. ie real estate, stocks, precious metals, whatever they may be.

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