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Starting June 15, 2024, Fidelity Cash Management account will offer an elective option to have your default sweep account be the high-yield SPAXX money market fund (4.95% yield at time of this writing). Until now, their default deposit sweep is anย FDIC account with an interest rate which is not highly competitive (2.72% at time of this writing).
This was published by Doctor Of Credit, to read the complete post please visit https://www.doctorofcredit.com/fidelity-cash-management-account-adds-high-yield-sweep-option/.