High short-term rates made it easy money—just park cash and collect interest.
But December is different.
When QT ends and short-term Treasury supply drops and the FOMC signals rate cuts, short-term yields can start falling quickly.
Once MMF yields break down, there’s no reason for cash to stay parked.
The next destination is usually risk assets like Nasdaq, Bitcoin, and Ethereum.
This is the core logic behind the expected December–February rally.
@bizbasics