YIELD SHOPPER - JUNE 2026

John Robinson |
Categories
Bond Yields

YIELD SHOPPER By Financial Planning Hawaii

Your Go-To Source for Interest Rates on CDs, Bonds, and other fixed income investments

 

The purpose of Yield Shopper is to keep Financial Planning Hawaii clients apprised of the general level of interest rates on various fixed income investments, including money market mutual funds, bank money market and savings accounts, certificates of deposit (CDs), treasury and agency securities, municipal and corporate bonds, and short-duration bond ETFs.  Readers should know that all yields are subject to change without notice. The yield data presented is for informational purposes only. 

JR’s Two Cents on the Fixed Income Marketspace (June 3, 2026)

At this time, we are holding more than $100 million of client assets in Schwab money market funds.  The most common question I field these days is, “Isn’t there something paying more?”  Rest assured the outsized allocation to money market funds is not due to slothfulness or neglect.  The reason for stockpiling all this cash is not for roughly 3.5% money market fund yields, but rather because the money market funds offer a risk-free, liquid placeholder while we wait for interest rates to rise again.  And early indications are that rates may be beginning to rise already.  As you can see, the yields on CDs have ticked up to 4% again.   

I believe they will continue to creep higher, however, for clients who are beginning to salivate over the 4%+ yields on CDs, I have no problem at all locking in those rates for 12-18 months. Just reach out to Sue or me and we can make that happen.

In the meantime, here are some takeaways from the data below:

  • I get the sense that people always wonder if the brokered CD market is competitive with the direct-to-consumer offered CDs you see on NerdWallet or Bankrate.com.  Compare the Fixed Rate New-Issue Non-Callable CDs in the Schwab Table to the Bankrate.com yields below.  You are not missing out on yield if you purchase a brokered CD. They are competitive with the highest rates in the country.
  • Callable Government Agency Bonds may be worth a look.  You may be able to get 4.5%-5% in the 2-5 year range.  However, I advise making sure the Agency bond you purchase has at least 6 months of call protection.

  • In Comparing the Cash-like ETFs, the Schwab Short Term (1-3 year) treasury ETF (SCHO) with its 4% distribution rate, looks compelling next to its peers.  It reflects the recent rise in 1-3 year treasuries relative to the 3-12 month treasuries

  • Source:  Charles Schwab fixed income trading desk.
  • *The Taxable Equivalent Municipal AAA Yield is calculated from the Municipal AAA Yield, and assumes a 35% federal tax rate. This does not reflect the effects of any state or local taxes, which, if applicable, may increase the taxable equivalent yield. For questions about calculating your individual rate, see your tax advisor. The following formula is used: Taxable Equivalent Municipal Yield = (Municipal AAA Yield) / (1.00 - 0.35).

  • In reviewing the yields in the table above, investors should keep in mind that the interest paid on treasury securities and certain government agencies (e.g. Federal Home Loan Bank , Federal Farm Credit Bank, and Tennessee Valley Authority) is exempt from state income tax.  Interest from most (but not all) municipal bonds is exempt from federal income tax. Federally tax exempt municipal bonds issued within your residence state (or issued by U.S. territories such as Guam and Puerto Rico) are generally exempt from state income tax as well. Interest paid Certificates of Deposit, Corporate Bonds, and annuity contracts is subject to federal and state income tax. In comparing yields between these securities it may be necessary to calculate the tax-equivalent yield. 

    Taxable Equivalent Yield Calculator (Source: Fidelity)

    Money Market Funds

Fund Name & Symbol

7-Day Yield

Link to Fact Sheet & Prospectus

Schwab Prime Money Market Fund (SWVXX)

348%

Fact Sheet & Prospectus

Schwab U.S. Treasury  Money Fund (SNSXX)

3.41%

Fact Sheet & Prospectus

Schwab U.S. Treasury Money Fund (Ultra Shares) SUTXX

3.50%

Fact Sheet & Prospectus

Fidelity Prime Money Market Fund (SPRXX)

3.26%

Fact Sheet & Prospectus

Fidelity Treasury Only Money Fund (FDLXX)

3.51%

Fact Sheet & Prospectus

Vanguard Cash Reserves Fed MMF (VMRXX)

3.58%

Fact Sheet & Prospectus

Vanguard Treasury Money Fund (VUSXX)

3.60%

Fact Sheet & Prospectus

  •  

  • Cash & Cash-Like ETFs

Issuer

APY

Link to Fact Sheet & Prospectus

Vanguard  0-3 Month T-Bill ETF (VBIL)

3.56%

Fact Sheet & Prospectus

iShares 0-3 Month Treasury ETF (SGOV)

3.54%

Fact Sheet & Prospectus

SPDR 1-3 Month T-Bill  ETF (BIL)

3.69%

Fact Sheet and Prospectus

Schwab Short Term U.S. Treas ETF (SCHO)

4.0%

Fact Sheet and Prospectus

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  • High Yield Savings Account Rates (Source: Bankrate.com)

Bank

APY

CIT Bank

4.10%

Vio Bank

4..03%

Bread Savings  

4.00%

Lending Club

4.00%

Bank

9 month

12 month

2 Year

5 year

Forbright BAnk

4.15%

 

 

 

Popular Bank

 

4.11%

 

 

Merrick Bank

 

 

4.2%

 

Merrick Bank

 

 

 

4.2%