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HISAs vs. bonds and GICs: Where should Canadians hold their cash?

– moneysense.ca

In fact, Canadian savers have an abundance of good choices right now for places to earn rates of interest that will keep their money growing ahead of inflation. So, where should you put your money: in bonds, guaranteed investment certificates (GICs) or a high-interest savings account (HISA)? You may be surprised at how similar these are for interest rates. But there’s more to the story.

Is it time for Canadians to invest in bonds again?

The talk of bonds coming back only makes sense if you understand where they went. For most of the past decade, bonds have been a terrible investment as interest rates fell to historic lows, meaning they paid almost no interest. Then inflation took off as the global economy lurched out of the COVID-19 pandemic, and central banks were forced to raise interest rates—fast…

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