A 12-month certificate of deposit at some U.S. banks now pays more than a 10-year U.S. Treasury note. Northeast Bank's ableBanking offers a rate of 2.90% on its 12-month CD. That's almost 25 basis points more than the 10-year U.S. Treasury yield late Friday.
Why it matters: Since the financial crisis, Americans looking to earn money by saving rather than investing have been out of luck as interest rates available at banks have hovered at close to zero. But those days are over. At least for now.