You're watching hot money flows (quick and easy transactions at brokerages). Savers willing to click a few more times can still find CDs with as good or better rates at internet (or even brick and mortar) banks.
Here are four fixed rate 2 year-ish CDs offered by three banks direct to customers (figures are APYs):
5.8% (18 mo., Seattle Bank), 5.6% (24 mo. Newtek Bank), 5.5% (24 mo., Seattle Bank), 5.4% (24 mo. MapleMark Bank). The link below compares the terms of each offer and the health of each bank. (Bank health matters because if a bank folds, an acquiring bank can reduce the CD rate.)
https://www.depositaccounts.com/banks/compareproducts.aspx?ids=415090,406717,19800,411223
To address @hank's difficulty about wrapping one's head around brokered CDs that can only be traded, not redeemed ("put"):
What one considers cash or cash equivalent varies from person to person. There is an FASB definition (that I'm not finding on a quick search now), though here's a Texas page that gives some examples:
https://fmx.cpa.texas.gov/fmx/training/wbt/cashflow/281.php
For me, a cash equivalent has three attributes:
- Safety. This can come from issuer (e.g. Treasury), from insurance (e.g. NCUA), or a combination of security quality and short maturity (e.g. MMFs)
- Liquidity. The ability to convert to cash in a short amount of time. CDs acquired directly from banks satisfy this unless the issuing bank prohibits early withdrawals.
- Stability. Bonds fail this, because their value is determined by the market. Directly sold CDs pass, because even with a withdrawal penalty their value is known ahead of time because the penalty is fixed.
A curiosity perhaps, but Fidelity lists secondary market CDs under bonds. You can a CD search page equivalent to the one that stillers gave by going to Bonds rather than CDs & Ladders. CDs are on one of the bond tabs you find there.

On top ribbon, go to News & Research
Then Fixed Income, Bonds & CDs
Then CDs & Ladders
Then Secondary CDs (Link is under the current rates)

News & Research
Then Fixed Income, Bonds & CDs
Then Bonds
Then CDs (tab)
One disagreement that I have with FASB, Texas, etc. is that if I buy a 12 month T-bill, then after nine months or so, I do consider it cash. The "official" rule is that if you buy a 3 month T-bill, it's a cash equivalent, but if you own a Treasury that over time ages down to three months to maturity, it's not a cash equivalent. I'm sure it makes some difference to the accountants, but to me, a T-bill with three months left is just that, regardless of how it got to there.

https://www.sec.gov/Archives/edgar/data/1090372/000089418923008223/jacobinternetfundshareclas.htm
497 1 jacobinternetfundshareclas.htm 497
Jacob Internet Fund
Institutional Class Shares (JAMIX)
November 3, 2023
Supplement to the Prospectus and Statement of Additional Information (“SAI”)
dated January 5, 2023
This supplement amends the Prospectus and SAI of the Fund.
The Board of Directors of Jacob Funds Inc. (the “Company”) have determined to liquidate and dissolve the Institutional Class Shares of the Jacob Internet Fund series of the Company (the “Fund”) effective on or about November 17, 2023 (the “Liquidation Date”). The liquidation proceeds will be distributed to any remaining shareholders of Institutional Class Shares of the Fund (the “Shareholders”) on or about the Liquidation Date.
Until the Liquidation Date, Shareholders will have the opportunity to exchange their shares for shares of any other Jacob Fund on any business day by contacting the Fund’s transfer agent, U.S. Bank Global Fund Services, at 1-888-JACOB-FX (1-888-522-6239). Please see “Exchange of Fund Shares” in the Prospectus for additional information about such exchanges. Shareholders may redeem their Fund shares at any time prior to the Liquidation Date.
The Institutional Class Shares of the Fund are now closed to new investors due to the planned liquidation. Additionally, the Fund will no longer accept additional investments in Institutional Class Shares of the Fund from existing shareholders.
Please retain this Supplement with your Prospectus and Statement of Additional Information for future reference.

Sincere props and congrats to you @FD1000, glad to see someone doing well in the markets, they are challenging and tricky for sure....
What makes me go hmm, when I read your posts is why does a guy who is comfortably retired make huge moves in and out into various markets when you obviously "have enough"...kinda like an old Harley, if its running good, don't F*#K with it, leave the wrenches in your tool box.
Your models/strategy has obviously worked well but say what the heck would happen if y Iran launches a barrage of missles that overwhelm the missle defenses...what happens if Biden takes seriously ill or worse and we get Kamala in as president (I am intentionally NOT trying to bait anyone into a political kerfuffle) just saying that would jerk the markets limit down, no? You'd likely lose several years of profit in your investments, so why expose yourself to that possiblity?
Good Luck to you and ALL,
Baseball Fan

I said the following on another forum starting on Nov 1.
==============
In other threads I said to start looking to get into the market in October and wait for the entrance.
SPY had a ST+mid term signal buy
VIX is down
Other stuff looks better too.
Momo looks good in the last several days. All = a buy before closing.
==============
You can just play it simple: no diversification, no predictions, no narrow range funds, looks like tilting LC growth is here to stay which = SPY/VOO or you can gamble and use some QQQ.
Earlier in the year I posted that value looks better, based on 2022, but within several weeks, growth started to lead again.
===============
I stick with a simpler approach. Under/Over value don't exist ST(weeks-months) and sometimes for years. I have no idea about a short covering because I don't look for it and I don't know when it started and how long.
I always listen to the Fed. The Fed blinked on Wed. The charts sensed it even sooner, the chart confirmed it. Most stock+bond funds lost in the last several weeks, usually, they recover some or all.
I changed 80% of my portfolio last week which I held for several months. My previous funds are still good but why not make more for several days-weeks. Small changes do not make sense to me, never did.
I also said before that usually it's that time of the year.
I would stick to what worked lately (weeks-months) and wide range funds. I don't know why investors look for bottoms for a narrow sector or what MAY do better (gold, health care, energy, value) when something has been working for months (SPY,QQQ)
When will I sell? no idea, the chart and uptrend will tell me what to do.
I actually mad at myself as to why I didn't change 100%, I got lazy. These periods are the ones where one week can equal several months of performance.

Mr. G is the king without clothes
FEB 2022([www.cnbc.com/2022/02/11/jeffrey-gundlach-says-the-fed-is-obviously-behind-the-curve-will-raise-rates-more-than-expected.html)
"Gundlach sees the 10-year Treasury yield...to exceed 2.5% this year. He also said, “It’s possible the 10-year takes a peek at 3%.”
Reality: the 10 year peeked at 4.2%
====================
MAR 16 2022 (www.cnbc.com/video/2022/03/16/the-fed-is-way-behind-says-doubleline-ceo.html)
G: stocks will go higher from here
Reality: The SP500 fell about 17% by 07/2022.
==================
August 26, 2021(www.nasdaq.com/articles/bond-king-sees-gold-pushing-higher-from-its-current-price-2021-08-26) "The dollar going down"
Reality: the Dollar went up from 08/2021 to 09/2022 by about 25%, which is a huge move.
==================
Gundlach predictions for 2019 (www.fa-mag.com/news/how-jeffrey-gundlach-s-predictions-for-2019-turned-out-53478.html)
EM should outperform. Reality: they underperformed
Stocks are value trap. Reality: 2019 was a great year for stocks, the SP500 made over 28%.
The dollar would probably weaken. It was flat
==================
Gundlach predicted in 2016 that the 10 year treasury to be 6% by 2021, see (www.barrons.com/articles/gundlach-bond-yields-could-hit-6-in-five-years-1478929496) and again in 2018(www.cnbc.com/2018/09/20/doublelines-gundlach-warns-us-treasury-yields-are-headed-higher.html).
Reality: On 12-31-2021 it was at about 1.5%.

I’ve been expecting CD rates to drop at some point. However, what surprised me yesterday was that it was just the 2-year CDs that were suddenly hard to find. I had no trouble buying 1, 3, 4 and 5-year issues.

Good for you!
But, so as to NOT undermine what I posted...
Not sure what time you were buying yesterday, but cupboards were virtually bare on many durations by COB Friday, similar to what can be seen in the negligible Fido offerings across all durations this AM.

I’ve been expecting CD rates to drop at some point. However, what surprised me yesterday was that it was just the 2-year CDs that were suddenly hard to find. I had no trouble buying 1, 3, 4 and 5-year issues.

At a general, unsophisticated Rule, I ALWAYS plow $ into stocks near/at the end of three consecutive S&P DOWN months that cumulatively register a total drop near/in correction territory. That was the case a couple of days ago when I did my standard % dump in.
And, FWIW, I try not to THINK of that Rule, or my overall investment strategy, as smart or dumb, because I KNOW the market will soon enough inform me I'm looking a lot like the other one!

For the ST time being at least, with the major indexes all UP 5.1%-7.6% last week, the above-noted Rule has paid off much faster than usual, and provides support for the old adage that
"Even a blind squirrel finds an acorn every once in a while!
Meanwhile, the jury is still out on the move being smart or dumb LT.

Nov 4 Episode:

In this exclusive interview, he talks about his deep value, contrarian approach, his current strategy, and the lessons he’s learned over the years.
Berkowitz’s Fairholme Fund was once a top performer, returning better than 13% annualized returns in its first decade. But it has since lagged the market and become extremely volatile. Today, 82% of the fund is concentrated in one stock: The St. Joe Company, a Florida real estate developer and manager.
Berkowitz reveals the highs and lows of his career and shares his insights on value investing, contrarian thinking, and the future of the markets.

Curious development with regard to new issue CDs available at Fidelity today. I’m setting up another 5-year CD ladder in our taxable account so we’ll have cash available to pay property taxes near the end of each year. Yesterday, there were a bunch of noncallable 2-year CDs available paying about 5.4%. They all disappeared overnight, and I could find only one noncallable 2-year CD paying 5.3%. I ended up buying a 21-month CD yielding 5.4%, but don’t understand why all the 2-years disappeared overnight.

Hmmm...not really all that "curious" to some investors at least.
You may have missed that @hank duly asked on Nov 2:
Anybody know how today’s sharp dip in rates across the board is affecting CDs? I’d imagine a bit of a crunch to get in the door before rates drop further. Are 1 & 2 year CD’s above 5% still available?
Well, we got some of our answers!
A HUGE move in 10-yr Treasury this week caused potential CD BUYers of ALL durations to act.
https://www.cnbc.com/video/2023/10/20/first-time-seeing-treasury-yield-move-like-this-in-20-year-career-says-exante-datas-jens-nordvig.html
https://www.cnbc.com/video/2023/11/01/u-s-10-year-yield-falls-sharply-following-better-than-expected-treasury-announcement.html
NOTE: There was a similar, though even more dramatic run on ALL CP CD offerings earlier this year, following a previous 10-yr plunge. After that run the CP CD cupboards were completely bare! (There are still a few left this time!)
Over the next several months after that prior plunge, and right up until last week's action, ALL rates had moved UP to their respective YTD highs. This time though, IMO, FWIW, we are now likely past peak CD rates.
There will be plenty of, new, New Issue offerings posted next week. It will be interesting to see just how far respective maturities rates have fallen due to the action on the 10-yr this this past week. Thenwe'll have all of our answers to the great questions posed by @hank!
All the more reason to
(1) looking forward, get up speed on how to play in the Secondary Issues sandlot, which is where I will be spending considerable time as several rungs fall off our ladder in Nov-Feb and
(2) in retrospect, have already bought longer duration CDs (that is, 3-5-yr) as I had been suggesting on other prior CD threads.

Curious development with regard to new issue CDs available at Fidelity today. I’m setting up another 5-year CD ladder in our taxable account so we’ll have cash available to pay property taxes near the end of each year. Yesterday, there were a bunch of noncallable 2-year CDs available paying about 5.4%. They all disappeared overnight, and I could find only one noncallable 2-year CD paying 5.3%. I ended up buying a 21-month CD yielding 5.4%, but don’t understand why all the 2-years disappeared overnight.

Someone with lots of cash and expectation of interest rates falling down could have mopped all those issues. Also, Banks that issued them might be cancelling unsold issues if they see rates falling.

03 Nov, '23:
https://www.bloomberg.com/news/videos/2023-11-03/wall-street-week-11-03-2023

+1 @davidrmoran "trying to hit singles as I get older, have puhlenty of losses prior from not doing that, many of which I still hold"Same with the loses here !!

https://www.bloomberg.com/news/videos/2023-11-03/bloomberg-real-yield-11-03-23-video
03 Nov, '23.

“ You have heard the saying, "Buy low, sell high," correct?”
So, my thinking goes, “why not wait a little longer…rest in the mmkt sweet spot with 5%+ for a while. The 3,6,12-month t-bills ain’t bad either.”

Tarwheel +1

https://www.sec.gov/ix?doc=/Archives/edgar/data/806636/000119312523270110/d575530d497.htm
SUPPLEMENT DATED NOVEMBER 3, 2023
TO PROSPECTUS DATED MAY 1, 2023
Pages 9 and 13 of the Prospectus and page 1 of both Longleaf Partners International Fund’s and Longleaf Partners Global Fund’s Summary Prospectus should be updated to reflect that the International Fund’s and Global Fund’s expense caps have been reduced from 1.15% to 1.05%. The fee table on page 22 of the Prospectus should be updated to reflect that the fee caps on the International Fund and the Global Fund have been reduced from 1.15% to 1.05% effective November 1, 2023 through at least April 30, 2025.

(nods) It is a worry.
As the climate destabilizes, by definition heretofore extreme events become more common. I live near Lock and Dam 15 on the Mississippi River where this spring saw the second-highest floor peak in recorded history and this fall has seen a dramatic drop that threatens commercial navigation of the river. Chip got pictures of me walking the riverbed beside the (misnamed) seawall in Davenport. The dry ground I stood on should have been 8' underwater and was near to 12' below the level of the spring flood.
The main channel here has to be at least 15' deep to allow continuous barge traffic - raw materials go north, the harvest flows south - which is mostly manageable down to St. Louis where the lock and dam system ends. From their south, it's 24/7 dredging and praying as commerce gets choked down and seawater begins to infiltrate.
The international science group Science X described the river this week observes"from the Great Lakes in the north to Louisiana in the south, the majestic Mississippi is a shadow of its former self."

Curious development with regard to new issue CDs available at Fidelity today. I’m setting up another 5-year CD ladder in our taxable account so we’ll have cash available to pay property taxes near the end of each year. Yesterday, there were a bunch of noncallable 2-year CDs available paying about 5.4%. They all disappeared overnight, and I could find only one noncallable 2-year CD paying 5.3%. I ended up buying a 21-month CD yielding 5.4%, but don’t understand why all the 2-years disappeared overnight.