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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (59983)5/1/2002 3:44:20 PM
From: Softechie  Read Replies (2) of 99280
 
Investors pull whopping $56 bln from money market funds
By Craig Tolliver
05/01/2002 15:16

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Investors withdrew a whopping $56 bln from money market funds in the latest week, according to IMoneyNet. Over the five-day period ended Tuesday, Taxable money market assets plunged by more than $51 bln to finish at $1.93 tln, while total tax-free assets declined by another $4.6 bln to $261 billion for the week. Altogether, 1,677 taxable and tax-free funds were left with $2.19 trillion, down from last week's $2.25 trillion, the Westborough, Mass.-based flow-tracker said. The average seven-day simple yield on taxable funds nudged up 2 basis points from the prior week to finish at 1.37%. Tax-free fund average yields increased by 9 basis points to 1.18%.the highest tax-free 7-day simple yield average since Jan. 1.
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