Barron'​s writes "`​Cash Is No Longer Trash. T-​Bill Yields Near 4%." The piece tells us, "Cash is no longer trash. For the first time in 15 years, investors can get nearly 4% yields on U.​S. Treasury bills, while rates on some money-​market funds have hit 2% and likely are heading higher. These yields were around zero at the start of 2022. The rate rise helps formerly yield-​starved savers who have suffered for most of the past decade and a half with sub-​1% short-​term yields." Barron'​s also says, "The added income on the enormous pool of money-​market funds and other short-​term bond assets also could provide a lift to the economy. One loser is the U.​S. government, which is paying more on its borrowings. Other beneficiaries from higher short rates are cash-​rich companies like Berkshire Hathaway, Apple, Alphabet, and Microsoft." They add, "Individual investors can also buy T-​bills through liquid exchange-​traded funds like the $​23 billion iShares Short Treasury Bond ETF (​SHV), which holds Treasuries with an average maturity of about four months, and the $​20 billion SPDR Bloomberg 1-​3 Month T-​Bill ETF (​BIL). The iShares SHV ETF has a 30-​day yield of 2.​5% based on a Securities and Exchange Commission methodology. The SPDR Bloomberg BIL ETF'​s SEC yield is 2%. Investors willing to take slightly more interest-​rate risk can buy the iShares 1-​3 Year Treasury Bond ETF SHY (​SHY) with an average maturity of around two years and SEC yield of 3.​3%. The $​42 billion Vanguard Short-​Term Corporate Bond ETF (​VCSH) carries an SEC yield of more than 4% and an average maturity of 3 years.... Money-​market fund yields also are rising. The huge, $​216 billion Vanguard Federal Money Market Fund (​VMFXX) now has an SEC yield of 2.​15% and that yield probably is heading higher."

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