You got some really weird replies. As interest rates go down, people move their money away from treasuries into other assets such as stocks, real estate, etc.

You got some really weird replies. As interest rates go down, people move their money away from treasuries into other assets such as stocks, real estate, etc. Stocks and real estate at least can provide a return, therefore, it's preferred over negative treasuries and cash. Negative rate treasuries can be preferred over cash because it's owed by the US gov't which has less credit risk than having your cash sitting at some savings & loans credit union in small town in Utah. Edit: for the other replies: cash in this context does not mean physical paper money.