3 month Treasury Bill closed at 1.03% on May 18, 2022

This beats my 1% rate at T-Mobile Money, an actual FDIC insured bank, but 90-day T-Bills are now paying more than 1%, so I’m moving cash to Fidelity Cash Management. I’m going to buy new issue 90-day T-Bills and auto-roll them. The Fed is going to raise interest rates even more, perhaps to a terminal rate of 3% in 2023, so it’s time to make some interest on cash accounts.

The process of finding new-issue Treasuries and the Fidelity auto-rolling workflow are both complicated, honestly. Here’s what I have:

Find out about upcoming Treasury auctions here - This is a US Treasury Department website. Take note of the Annoucement Date column. Fidelity will post the details for the offered securities the afternoon of the announcement or the next day.

You have to turn on fixed income alerts after you login at Fidelity.com. Go to News & Research > Alerts > Fixed Income Holdings and you have to add the Auto Roll Alert. You’ll be asked to accept an auto-roll agreement.

Then you’ll go back to News & Research > Fixed Income Bonds & CDs > New Issues > click on the (+) sign next to Treasury to see the new offers. If your desired one has been posted, you’ll be able to buy it and auto-roll it, it should be apparent on the user interface.

CAUTION: 1 T-Bill, T-Bond, or T-Note = $1,000 face value. So if you want to buy $10,000 worth you want to buy just 10. You cannot buy fractional amounts. If you have extra money, buy a bond ETf or Mutual Fund to soak up the excess.

Good luck. Oh, you cannot buy I-Bonds at Fidelity, you have to go to TreasuryDirect.gov