Mish makes a good point here.
Inquiring minds investigating Citigroup's cost of funds note that Citigroup 5 year CDs yield a mere 1.5%.
The rate is the same from 30 days through 5 years. How nice.
...the "guarantee" in question is a complete ripoff. It's a ripoff because 5-year US treasuries currently yield 2.35%.
You can buy Treasuries directly, or through a broker. IIRC, the minimum was $10K--not a huge amount--and you could buy 5- or 10-year bonds.
HT: AOSHQ
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