TITLE

Tax-free Money Market Funds Hit 1.04%

AUTHOR(S)
Fine, Jacob
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/23/2004, Vol. 350 Issue 32036, p32
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that tax-free money market funds hit 1.04%. The funds' average yield broke the 1.00% mark in October 2004 for the first time in nearly two years, climbing as high as 1.11 % in November, 2004 before falling back down due to heavy demand for short-term securities. The funds' had a net outflow of $2.13 billion over the past week, as their assets settled at $320.16 billion, according to the Westborough, Massachusetts-based fund tracker. Average taxable money market fund yields rose nine basis points to 1.58% during the most recent weekly reporting period.
ACCESSION #
15479759

 

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