I’m a fan of Harry Sit’s blog The Finance Buff and he makes a very strong case for money market funds over savings accounts and treasuries over CDs:
Ditch Banks — Go With Money Market Funds and Treasuries [The Finance Buff] – “It’s been over a year now since the Fed raised the short-term interest rates above 5%. The rate on a “good” online high-yield savings account such as the one from Ally Bank is currently 4.2% while a money market fund pays 5% or more. It’s 4.2% from the bank only because the bank says so. You’re paying a “familiarity penalty” when you stay with Ally. I’m not picking on Ally specifically. It works the same at Marcus, Synchrony, Amex, Discover, Capital One, or Barclays. “