T-bills Etrade vs TDAmeritrade difference in yields

A

Ayn Rand

I have started to buy T-bills. I have accounts at Etrade and TDAmeritrade. Yields are higher at Etrade than TDAmeritrade. May not be the identical security but Etrade seems to always be offering a better price for very similar expiration dates? Any insight would be appreciated. Base on my observations I will be transferring funds from TD to E for future T-bill purchases. Before I realized this I made a purchase today of Tbills maturing just after the beginning of the year. Bought at TD for 98.64. On E similar 98.44. My bad for not checking before hand but I thought they would be almost the same.
 
Last edited:
Maturity dates might differ by a week. These are short term. Both - bought and looked at - mature 1st week in Jan 2024. I think it is a TD scam. No commission but bad price.
 
Ayn Rand said:
Maturity dates might differ by a week. These are short term. Both - bought and looked at - mature 1st week in Jan 2024. I think it is a TD scam. No commission but bad price.
More...
3month or 6month or 1year?
 
OP,

Something is definitely different with the bid/ask on secondary T-Bills on TDA (now Schwab). They're lower than IB quotes for THE SAME ONES (i.e., identical CUSPIDs)

I'll buy new T-Bill issues from either TreasuryDirect or Schwab (former TDA account) and purchase all secondaries from IB as their trans fee is only $5 per 100K or so. Note: IB doesn't offer primary T-Bills
 
I saw this too. Schwab does the "ask"...I believe TDA (since it is now owned by Schwab), probably does the same. I believe you can go between the bid and ask and get the fill. I don't know what the charge would be...Nothing is for free.
 
You must log in or register to reply here.
Back
Top