ING Direct Offers 1.25% APY 1-year CD Rate

ING Direct is sending out a national campaign for its 1.25% APY one-year CD. Considering that the average one-year cd interest rate nationwide is around .50%, this might be something to look into.

Personally we expect interest rates to be rising soon because the Fed’s QE2 policy has not led to lower rates but higher rates than when announced. Hedge funds are talking about buying the TBT which shorts bonds, meaning expect interest rates to rise. We expect a change in thinking on interest rates after the big G-20 meeting finishes and the marketplace digests the meaning of talks on currencies, trade balances and the economy.

President Obama has tried to make the failed trade talks into a win, but he got nothing on most all his asking points. More lip service trying to talk up the good without any content behind it. In fact, some of the proposals of the US were so outlandish that other nations started speaking out publicly against how crazy the US was, a break in diplomatic courtesy that hasn’t been seen in ages. Seems the US really is losing its position of preeminence in the world for such things to happen.