Is everyone seeing a huge uptick of marketing coming from banks trying to sell CDs? Been going on for a while now but it has absolutely exploded in the last few weeks. Emails, snail mail, popups, everywhere you look. And I havent clicked a link or anything to push them my direction.

Banks just trying to make a profit or sign of them being in a pinch?

Baby Billy said:

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Banks are always searching for deposits and they haven't been able to offer attractive CD rates for a very long time.

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Realize that. Just seems Im seeing 10X the ads for them now compared to 6 months ago.

Generally banks have similar rates on products. CDs on the brokered market are being issued at generally similar rates and terms, nothing magical about bank a vs bank b. Due to inertia, no one is moving their banking relationship for 1% more so no big advertising push the last decade when cd rates were essentially the same as deposit rates.

Today, lots of people out there with trillions of dollars of cash in savings accounts still making 5bps. Their bank isn't pushing any product to them as they're earning 4% + NIM on that deposit and it's been fairly sticky for a while. But other banks know you'll think about switching to go from 5bps to 400-500, hence the advertising push. It's not just about the CD, they're trying to get you in the door to possibly move the whole relationship. But they do need deposits too, so they're happy to just sell the CD.