I spoke about how I plan to find a high-yield MMA or CD last month. Interestingly, after doing some research after I returned from Malaysia, one of the highest yielding CD I found on BankRate.com is actually the Internet bank I have been using for years with a 5.43% APY. I used to have a savings account with them but closed it after ING Direct came out. That was before the mainstream banks like Citibank and HSBC introduced their online MMA offerings.

I opened the CD right before the Fed lowered their overnight lending rate by 50 basis points. However, I am surprised to learn that this move, however, doesn't make the bank lower their CD yield, at least not yet.

If I can stash away a little more I will put them into another 12-month CD as my emergency fund (instead of randomly invest it here and there).