Treasuries and CDs | March Rates Update

COMMENTARY

According to the Congressional Budget Office (CBO), the federal budget deficit reached $1.0 trillion during the first five months of fiscal year 2026. This fiscal year’s deficit is $142 billion lower than the same period one year ago. Tax receipts rose by $206 billion (+11%) and expenditures increased by $64 billion (+2%).

U.S. TREASURY AUCTIONS

The U.S. Treasury has a full schedule of upcoming auctions. Investors can purchase Treasuries at no cost via the TreasuryDirect.gov website or at most major brokerages, including Vanguard, Fidelity, and Schwab.

BILLS

NOTES

BONDS

Treasury Inflation-Protected Securities (TIPS)

The current 10-year TIPS yield is 1.80% (+CPI).

MONEY MARKET & CD RATES

Below are some of the most attractive money market yields and CD rates available nationwide, sorted by maturities from three months to five years. Click this link to verify that a bank is FDIC-insured. You can click on the institution name in the following list to go directly to the bank’s website for more information regarding CD purchase minimums, etc. We always recommend individual CD purchases be limited to within the $250,000 FDIC insurance limit.

Money Market Funds:

• Vanguard Federal Money Market Fund (VMFXX) 3.58%

• Vanguard Municipal Money Market Fund (VMSXX) 1.69% (tax-exempt)

• Fidelity Money Market Fund (SPRXX) 3.36%

• Schwab Value Advantage Money Fund (SWVXX) 3.49%

VMFXX has a more attractive tax-equivalent yield than VMSXX for readers in the 35% or lower federal income tax bracket. Below is a tax-equivalent yield comparison of VMFXX versus VMSXX using the 2026 federal income tax brackets:

CDs

3-months:

• Northern Bank Direct 4.15%

• Brilliant Bank 4.00%

• Popular Direct 3.90%

6-months:

• Northern Bank Direct 4.15%

• Popular Direct 4.10%

• E*Trade 4.05%

• Marcus 4.05%

12-months:

• E*Trade 4.10%

• Popular Direct 4.05%

• Marcus 4.00%

• Sallie Mae Bank 4.00% (11-month)

18-months:

• Marcus 4.00%

• Vio Bank 3.95%

• Sallie Mae 3.95% (15 months)

2-years:

• Marcus 3.95%

• Sallie Mae 3.90% (30 months)

• Popular Direct 3.85%

• M.Y Safra Bank 3.85%

3-years:

• Sallie Mae 3.95%

• Marcus 3.90%

• Popular Direct 3.85%

4-years:

• Marcus 3.85%

• TAB Bank 3.75%

• M.Y Safra Bank 3.75%

5-years:

• Sallie Mae 4.00%

• Marcus 3.90%

• M.Y Safra Bank 3.80%

In case you missed it, here is our Model Portfolio Update published earlier this month.