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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (56451)	11/28/2001 3:52:13 PM
From: michael97123	Respond to of 70976

Wednesday November 28, 3:49 pm Eastern Time Money fund yields sink, assets jump, to records NEW YORK, Nov 28 (Reuters) - It was another bad week for savers, as yields on taxable money market mutual funds sank this week to all-time lows, but that didn't deter investors from pouring even more money into the funds. Still, despite yields below the 2.1 percent inflation rate for the 12 months ending in October, investors, led by institutions, plowed $17 billion of new cash into taxable and tax-free funds in the latest week. That took assets to a record $2.288 trillion, according to the Money Fund Report, published by iMoneyNet Inc. of Westborough, Massachusetts. The average seven-day simple yield for taxable funds fell to 1.86 percent as of Nov. 28, from the prior record low 1.91 percent set a week ago, the report showed. The average compound yield fell to 1.88 percent from 1.93 percent. The average simple yield on tax-free funds also sank to a new low of 1.28 percent, from the prior record low 1.32 percent a week ago. The average compound yield fell to 1.29 percent from 1.33 percent. The average maturity of taxable funds fell to 56 days from 58 days a week ago, iMoneyNet said.