Despite that, I stuck my neck out on Sunday and warned that today's best fixed-rate savings bonds would soon be for the chop. I have been proven right, and faster than I had anticipated. The five-year fixed-rate bond market, where returns are based on the outlook for interest rate movements, was a topic that I was specifically talking about.
Banks and building societies don't want to commit to paying a high rate of interest for five years, if they expect interest rates to drop in the next 12 months.
So the closer we get to pay peak interest rates, the point at which the Bank of England stops hiking base rates and begins thinking about cutting them instead, the more nervous they'll get.
But when the BoE's monetary policy committee unexpectedly froze rates at $5.25 percent last Thursday, I was urging them to do, banks were always going to have a rethink.
Especially since bank governor Andrew Bailey had suggested before the meeting that it was no longer clear that interest rates needed to keep rising.
The return on fixed-rate bond rates actually peaked months ago. Now they're falling out, according to a new report.
Last week, Tandem Bank was committing to pay savers $5.85 a year by 2028, a significant move that had been seen by investors in the financial industry.
Now that rate has gone away. Tandem's shares have slashed to five percent, down from five percent a year ago.