with interest rates remaining high people have aggressively moved cash into moneymarket funds exactly the kind of shift that is raising problem for banks it’s a smart move though it isn’t entirely riskfree the appeal of money funds is clear stocks are looking risky and rates on all sorts of shortterm cashlike fixedincome assets have risen the 3month treasury yield rose to as high as 5 a few days ago and is now at around 48 compared with around 44 to start the year similar yields and movements are seen in the oneyear treasury note