Top 5 online savings accounts by APY as of 6/8/2026 & thread on online savings account (OSA) yields and how OSA & money market fund (MMF) yields have changed since the first Fed rate cut (9/18/2024): Top 5 Status: No changes from last week Big 5 Status: Ally, CapOne & Marcus rates fall by 10 bps.

In addition to a review of the upcoming 5-year TIPS reopening auction, @TipsWatch provides a good review of things to keep an eye on at Wednesday’s Fed meeting, the first with the new Fed chair, Kevin Warsh.

“Many people lose out on the rule of 55 because of a lack of awareness”

By @jasonzweigwsj “if you’re already globally diversified, you might not need to do anything. An international fund that uses a market benchmark like the MSCI EAFE is likely to have at least half its assets in European stocks.”

Wolfstreet is raising a point I have been hitting on: Short-term T-bills and money markets are now yielding less than the U.S. inflation rate. Not a good situation for savers if this continues. wolfstreet.com/2026/06/12/mo…

One note on today’s DQ Savings/MMA leaderboard - MyBankingDirect is no longer offering a High Yield Savings Account. Its parent, Flagstar Bank, has decided to stop offering savings accounts and CDs from the MBD website and only offer these accounts from Flagstar’s website. After more than 20 years, HYSAs/MMAs are no longer available from MyBankingDirect. MBD had the highest rate of HYSAs. In April 2024, the APY reached 5.55%. This CNBC piece reported on this market-leading rate and how the bank’s funding pressures likely contributed to it. cnbc.com/2024/04/10/nycb-is-… MBD’s HYSA remained competitive after 2024. Before this week, the HYSA had a 3.90% APY with a minimum balance of only $1. Existing HYSA customers will have to log in or call to check the rate they’re earning. When I called this morning, a rep said the rate is now 3.40% APY. I wouldn’t be surprised if the rate continues to fall. The best HYSA option listed at Flagstar’s website (Performance Savings) only pays 3.20% APY for balances of at least $25,000. MBD is the digital bank division of Flagstar. In 2022, NYCB acquired Flagstar and the name was changed to Flagstar. Before 2022, MBD was a division of NYCB. I first wrote about MBD more than 20 years ago in 2005. For most of its history, it offered a competitive online money market account. In early 2022, it launched the HYSA. The HYSA took over as the flagship account while the MMA was phased out.

“First Citizens has become something of a distressed bank whisperer, making more than 20 acquisitions since 2009.” Its acquisition of CIT Group in 2022 resulted in First Citizens becoming a major player in digital banks. CIT Bank remains one of most competitive of the major digital banks.

“by falsifying title insurance policies to inflate the value of collateral he pledged to obtain loans.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​“

Lots of interesting news and facts about cash

US PPI inflation for May came in hotter than expected at the headline level but softer at the core level (please see the Bloomberg table below). Echoing yesterday’s CPI data, this suggests that the PPI spillover from energy into broader prices remains relatively muted for now. It also suggests that the pass-through from PPI to CPI is being offset by margin pressure. #economy #inflation #markets

U.S. inflation rose to an annual rate of 4.2% in May, highest in three years. (Note the ugly trend.) What does this mean for investors in TIPS and I Bonds? tipswatch.com/2026/06/10/u-s…

The core CPI rose 0.21% in May, very close to where forecasts had it, and this pushed the 12-month measure up to 2.9%. This is the first time since Dec. 2022 where the 12-month core CPI reading was higher than the year-earlier reading.

All-items CPI increased 0.5% in May, pushing the annual rate up to 4.2%, highest since April 2023. Core inflation was tamer, at 0.2%, but the annual rate ticked higher to 2.9%. Not good, but met expectations.

Compound interest is a lot more fun when it involves investments rather than debt.

The May inflation report will be released Wednesday at 8:30 am ET. The consensus calls for all-items at 0.5% for the month and 4.2% for the year. This would be the first time the annual rate hit 4.0% since May 2023.

The special role of the Treasury market is in peril | @TheEconomist “The most dependable investors - banks buying to satisfy regulatory requirements, foreign central banks building warchests for currency crises, or the Federal Reserve itself - own less than a third of Treasuries, the lowest share in 30 years.” economist.com/special-report…

A simple rubric for stablecoins vs tokenized deposits. Tokenized deposits are money that rests. Stablecoins are money that moves. Tokenized deposits cannot exist outside the bank, but can attract yield (easier), have no off-ramping issues, and handle unlimited volume. Typically, large corporations also receive preferential lending rates for parking large amounts of deposits with a bank. Stablecoins can exist on ANY platform with a compatible wallet, in ANY country, instantly. They’re more open-loop and not stuck inside the walls of one organization. These are not the same value proposition. They're not in competition with each other. Regulators and banks think tokenized deposits are better. Stablecoin proponents think stablecoins are better. The reality is they're a trade off between risk and speed. And, counter to the bank lobby or crypto lobby narrative. Stablecoins are good for some banks. Standard chartered, SoFi, Coastal Community Bank and countless others are using stablecoins for cross-border payments, sponsoring card programs and even just lowering their own costs. So here's a fairer assessment of the differences: