Cash sweep account options have long been a source of contention. These programs, used by major broker-dealers as a short holding place for client cash that is between investments, are often ...
Fidelity's SPAXX money market fund offers a significantly higher yield than default sweep options, while Merrill Lynch's tiered sweep program often pays minimal interest. The comparison highlights how ...
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Fidelity cash choices face shifting rate environment
Fidelity offers multiple options for holding uninvested cash, from FDIC-insured sweep programs to higher-yield government money market funds like SPAXX. Recent Federal Reserve rate cuts have lowered ...
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