Why aren’t stocks going down? The near-term landscape is full of obvious risks and precarity. Shouldn’t the market reflect the dark horizons? Sometimes, the market goes up because of good news. Sometimes, it goes up because the bad news is no worse than what investors already expected.

Over the previous decade, it didn’t matter much whether you left cash at the bank or put it in a money market fund, CD, Treasury, or under your mattress.

Today, though still modest, savings account rates are at their highest level since the Great Recession. Meanwhile, yields on cash alternatives have skyrocketed.