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It’s a Long, Cold, Cashless Siege

Long-term change is that corporations are moving from handling cash in-house to hiring outside managers, says Anthony Carfang, a partner at Chicago consultancy Treasury Strategies. Noting the attitude has favored not only money-market funds but bank sweep accounts, which move money in and out of corporate checking accounts in order to keep as much as possible earning attractive yields.

Gretchen Morgenson / New York Times

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