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Money Funds Are Gaining Ground





Apparently, 5% yield on money market funds is becoming juicy enough to attract income investors from equity and bonds.

From AP:

Assets of the nation's retail money market mutual funds rose by $5.17 billion in the latest week to $922.87 billion, the Investment Company Institute said Thursday.

Assets of taxable money market funds in the retail category rose by $2.51 billion to $706.91 billion for the week ended Wednesday, the Washington-based mutual fund trade group said. Tax-exempt fund assets rose by $2.66 billion to $215.95 billion.

Assets of institutional money market funds rose by $19.57 billion to $1.302 trillion for the same period. Among institutional funds, taxable money market fund assets rose by $19.18 billion to $1.163 trillion; assets of tax-exempt funds rose by $390.1 million to $139.67 billion.

Total money market assets stood at $2.225 trillion for the week.

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