bayouaggie said:

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Another vote for TMCXX. Note that my ML advisor moves it in and out of this fund so takes about 1 business day if I need access to cash.

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One thing to consider is VMFXX expense ratio @ 0.1% vs TMCXX @ .021%.

infinity ag said:

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goatchze said:

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permabull said:

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1 to 3 months t-bills are 4.3ish %, you can ladder them so you have them maturing every month so unless you think you will need all 120k in one month, you can get slightly better yield than a money market knowing you are just a few weeks away from getting access to the money.

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Or buy BIL, an ETF of 1-3 month tbills.

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It has an interesting chart. Let me look into it a bit more.

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As an example, I bought BIL on 1/3/2025 for 91.47. On 5/5/2025, it was 91.47

On 1/3/2025, short term tbills yielded about 4.4%. On 5/5/205, yields were about 4.4%.

This year it has paid a dividend of around 30-40 basis points each month, which is why it bounces between 91.4 and 91.8 month-to-month; the difference is the dividend payment.

It does have obvious sensitivity to the tbill auctions. That's why you might see a single month shift a bit. But that's true if you buy the tbills yourself, which is what I had been doing. But participating in the auctions was a pain.

This gets you into short term tbills with convenience.

Just take out some loans on that stuff.

Whitetail said:

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VMFXX is closed to new investors.

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It's the default sweep account for Vanguard if I'm not mistaken.

I keep all of my excess cash that's not in higher yield CDs here.

ktownag08 said:

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Whitetail said:

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VMFXX is closed to new investors.

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It's the default sweep account for Vanguard if I'm not mistaken.

I keep all of my excess cash that's not in higher yield CDs here.

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Ah okay - The no new investors is what Fidelity said when I was looking at it when logged in there.

Whitetail said:

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ktownag08 said:

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Whitetail said:

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VMFXX is closed to new investors.

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It's the default sweep account for Vanguard if I'm not mistaken.

I keep all of my excess cash that's not in higher yield CDs here.

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Ah okay - The no new investors is what Fidelity said when I was looking at it when logged in there.

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I never talked to anyone. I simply bought VMFXX through my Self Directed account on JPM

I used to manage and build money market funds back in my first career. Any money market fund with "government" in the name has no exposure to commercial paper and will always yield lower than traditional or "prime" money market funds. Government funds are primarily used by large institutions parking tons of cash, but IMO, retail investors should always be in prime money market funds. The trick is most funds have multiple classes with different expenses depending on your level of investment and the platform that you are trading on. Hope this helps.

As the US government financial bus heads ever more rapidly to the cliff (politicians of both parties are on board and just seem to be admiring the view), I'd be interested in hearing if any of you are thinking about where to park cash in the event of a US financial collapse.

northeastag said:

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As the US government financial bus heads ever more rapidly to the cliff (politicians of both parties are on board and just seem to be admiring the view), I'd be interested in hearing if any of you are thinking about where to park cash in the event of a US financial collapse.

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Few good options in that scenario. I believe Heineken has pointed this out but you likely want it at a bank that is not exposed to CRE or all of the derivative crap floating out there. I can't tell you what those banks are but they are out there. Tend to be smaller joints.

I'd disagree.

For me, the biggest difference in (most) government vs prime funds is the (in)ability to gate.

northeastag said:

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As the US government financial bus heads ever more rapidly to the cliff (politicians of both parties are on board and just seem to be admiring the view), I'd be interested in hearing if any of you are thinking about where to park cash in the event of a US financial collapse.

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if my thesis is US fiscal collapse, I'm not parking USD period (other than immediate liquidity needs). If the thesis is collapse, there's no reason to hold dry powder so to speak since there's no value on the other side of the collapse in USD.

Planning for extreme turbulence looks a lot different.