I have an IRA at Fidelity, and was looking into rates I could get for new issue CDs. I found that the best rate offered for a 1 year CD was 0.3%. I was surprised by this, as I currently have a (non-IRA) high yield savings account that pays 1.05%. I then did a search on BankRate.com for CDs, and found that the best 1-year CD rate offered was 0.99%.
I took a look at ETrade as well and found that the CDs they offer have similar rates to Fidelity.
Why do CDs from a brokerage seem to pay so much less than CDs bought directly from a bank?
(I'd also be interested in understanding why CDs are currently paying less than savings accounts, since there is more liquidity/less commitment with a savings account.)