re: AMEX high yield savings going 1.4%

For VMFXX and similar money market funds, you need to look at the 7-day yield. The year to date return takes into account the first 4-5 months of this year when internet rates were basically zero.

VMFXX is almost invariably the best money market option among the brokerages. However, for those who use Fidelity or Schwab, here are the money market 7-day yields of their money market funds, as of August 3:

Vanguard
VMFXX - 2.08%

Schwab
SWVXX - 1.99% (prime fund)
SNOXX - 1.85% (government/treasury fund)

Fidelity
SPRXX - 1.96% (prime fund)
SPAXX - 1.66% (government/treasury fund)

The nice thing about these money market funds is that their rise has been accelerating over the past few days. The prime funds generally hold some commercial paper, so that's why they have slightly higher returns.

If you have accounts with a different brokerage, you might still have access to good money market funds by Blackrock or another company. For example, Merrill Edge hides this list of money market funds its clients can access here:

LINK

If rates stop rising at some point, the ultra short bond funds and ETFs will once again be an even more lucrative place to hold cash. Vanguard's ETF is VUSB, and Blackrock's is ICSH.