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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (46082)	1/9/2002 3:13:30 PM
From: Sully-	Respond to of 65232

Money fund yields sink to record low, assets soar NEW YORK, Jan 9 (Reuters) - Flush from the holiday season, investors plowed cash into money market mutual funds in the week ending Tuesday, swelling the funds' coffers by more than $67.7 billion, even as fund yields matched or set new record lows, according to the Money Fund Report. The inflows follow a year when assets swelled a record $433.1 billion, even as yields sank by nearly 75 percent, according to the report, published by fund tracker iMoneyNet Inc. of Westborough, Massachusetts. Investors pushed overall fund assets to nearly $2.31 trillion in the latest week, the report showed. Total taxable fund assets rose $59.1 billion, with ``Prime'' institutions accounting for about $50.5 billion of that total. The average seven-day simple yield for taxable funds fell to a record low 1.54 percent as of January 8 from 1.59 percent a week ago, the report said. The average compound yield fell to 1.55 percent from 1.6 percent. The average simple and compound yields on tax-free funds fell to 0.93 percent, matching an all-time low, and 0.94 percent, from 1.23 percent and 1.24 percent a week ago. The average seven-day simple yield on taxable funds began 2001 at 5.91 percent, and on tax-free funds began that year at 3.97 percent, iMoneyNet said.

To: stockman_scott who wrote (46082)	1/9/2002 4:00:00 PM
From: Sully-	Read Replies (2) \| Respond to of 65232

15:53 ET Market Selloff : Hearing several possibilities behind the late fade: 1) rumor that Moody's plans to downgrade three major Japanese banks as early as tonight, 2) quasi-cautious comments made by a Fed Governor this afternoon suggesting that the markets are pricing in more of a recovery than the economy is showing, 3) rumor that the U.S. has begun bombing Iraq (lack of reaction in oil mkt would suggest that #3 isn't very credible).