Tax-Free Slide Continues; Yields Drop 5 Basis Points

Fine, Jacob
May 2006
Bond Buyer;5/19/2006, Vol. 356 Issue 32385, p7
Trade Publication
The article reports on the decline in the tax-free money market fund returns following the fall in their average weekly yield by five basis points to 2.93% on an annualized basis Monday. Assets in the funds tanked to $349.05 billion during the week due to redemptions from institutions. Assets in taxable funds increased $10.44 billion to $1.68 trillion mostly due to retail investors, while retail funds gained $7.29 billion, with institutional funds witnessing a smaller net inflow of $3.15 billion.


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