Top savings accounts, Rosenberg’s view of best investments for post-pandemic life, and how to build a better portfolio [Toronto Globe and Mail (Ontario, Canada)]
Rogers Communication, Inc. (RCI)
Last rogers communication, inc. earnings: 4/22 07:00 am
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Source: Toronto Globe and Mail
Top savings accounts, Rosenberg’s view of best investments for post-pandemic life, and how to build a better portfolio While the pandemic has demonstrated the importance of having money safely parked in a savings account, it has also driven savings rates into the ground. Interest rates have done some funny things since the pandemic hit hard. Central banks drove their benchmark rates down, and the major banks followed along with their prime rates, used to price home-equity lines of credit and variable-rate mortgages. Bond yields fell then started to rise and then eased back again. Savings accounts have basically gone one way – down. While this trend applies to big banks, alternative online banks and credit unions alike, the extent of the decline differs a lot. Pay attention if you sensibly want to build up savings to see you through tough times ahead. Data gathered by the consulting firm McVay and Associates show that big banks have cut their rates since February by an average 0.65 of
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