May 3 Issue T-Bills: 4 Week Yield (4.79%) Nosedive
So I plunked down my money and purchased a 28 day T-Bill today, my first T-Bill purchase since late November. The problem with that was that the investment rate on this Bill plummeted quite a bit more than I expected, dropping to a paltry 4.683%.
Using the new and improved handy T-bill tax equivalent yield spreadsheet (courtesy of the FatWallet discussion on Treasury Bills), I ironically found out that that my tax equivalent yield for this Bill will be 5.05%. So other than showing HSBC that I was willing to move my money elsewhere for a better rate, I basically gained nothing in terms of my return on investment. Live and learn, right?