Finally Money Market Funds arrived.

These US Treasury ETFs value/price is inversely related to US Fed fund rate. They are closely related to TLT. Note: GOVZ is relatively new ETF.

After browsing around, found US mutual fund with 4.3% yield. Its assets consists mostly of US & other Western sovereign govts related bonds which is considered very safe, relatively speaking. Comparatively, CSOP USD Money Market Fund and Fullerton SGD Cash Fund holds mostly Eastern and China SOE corporate bonds.