I'm searching for an asset allocation class that is "nearly" risk-free but will beat the rates offered by the risk-free online savings accounts. HSBC Directs 3.05% has a negative real-rate when inflation is factored in. Investment-grade Muni's pay in the neighborhood of 5% tax-free. What is the best way to purchase municipal bonds (direct, broker, etc.)? Any other suggestions for highest yield with negligible risk?