It’s a weird interest rate environment right now.
Check out Monday’s five-year inflation-index Treasury auction, where the bonds were sold at a negative yield.
That’s the first time that that has ever happened, but it’s also a sign of the times. The bonds, more formally known as Treasury Inflation Protected Securities (TIPS), were offered at a negative 0.55% yield. But they were snapped up quickly, with $10 billion worth of TIPS sold. Investors are apparently betting that inflation will rise, and if so, they’ll be paid a premium by Uncle Sam.
It’s all about protection and asset preservation these days, and that’s driving investors into the bond market – even if it means accepting negative yields. Bank rate investors may recall the old Chinese proverb, “may you live in interesting times,” but this is getting ridiculous.
Now, onto the best deals this week.
Chase (Stock Quote: JPM) is back with a “golden oldie,” a $100 cash reward for opening a business checking account. The deal is a staple at Chase, and it comes and goes on a regular basis. But it’s back for now and you can cash in on it easily.
Chase business checking has proven popular with entrepreneurs, who like being able to deposit multiple checks at an ATM, and their ability to accept checks via their iPhones (among other account features).
So it’s not like you’re diving into a low-service account when you chase that C-note.
Here’s how to get the deal:
1. Visit this Chase website
2. Bring your forms to the nearest Chase branch.
3. Open a new business checking account with a minimum $1,000 deposit.
The offer expires Oct. 30 though, so get going. If you want a decent checking account that will earn you $100 in the process, the Chase deal is worth looking into.