TITLE

Yields Drop Below 3%; Assets Fall $3.34 Billion

AUTHOR(S)
Fine, Jacob
PUB. DATE
July 2006
SOURCE
Bond Buyer;7/21/2006, Vol. 357 Issue 32428, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. tax-free money market fund yields declined back below 3% as they fell an average of 18 basis points on an annualized basis during the week, according to iMoneyNet Inc. The drop has left the funds' yield level at 2.9%. Assets in the funds fell $3.34 billion from the previous week. Assets in taxable funds increased to $1.74 trillion as a $4.09 billion net inflow into retail funds was partially offset by a $889 million loss from institutional funds.
ACCESSION #
21784085

 

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