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Stock market or 4.15% savings account?
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What happened? Apple is continuing to expand its financial services offerings with the launch of a new savings account in partnership with Go もっと見る
What happened?
Apple is continuing to expand its financial services offerings with the launch of a new savings account in partnership with Goldman Sachs. The account will offer a competitive annual percentage yield (APY) of 4.15%, with a maximum balance of $250,000.

This announcement follows Apple's recent launch of its buy now pay later program, which allows customers to make interest-free payments on purchases made through Apple Pay.

Why is it important?
Impact on the banking industry: The introduction of a high-interest savings account will likely lead to increased competition among banks. To retain and attract customers, other banks may be pressured to raise their own interest rates on savings accounts, affecting their net interest margins.

Impact on the bond market: The higher interest rate offered on savings accounts might shift investors' focus from bonds to savings accounts, as they might perceive them as a safer investment option with comparable returns.

Ripple effect on the stock market: The increased interest rates in the banking sector can influence the broader stock market. As investors divert their funds towards high-interest savings accounts, the liquidity in the stock market may decrease, resulting in lower trading volumes and potential market volatility.

What about you?
What are your thoughts on Apple's move into the banking industry?
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