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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (21444)	1/15/2005 3:31:17 PM
From: russwinter	Respond to of 116555

Look at the prices of those funds, was the top on the first, and close to one of the double tops on the others. I think what starts to happen now is that cash isn't quite trash anymore, so the notion to stretch for yield and return isn't as pervasive. We are getting pretty close to 3% on CDs under a year, and people will just jettison these junk funds for that. There have been solid outflows from domestic stock mutual funds two weeks running. So it isn't taking much on this higher short term rate front to change the mix at the margin (which is where pricing occurs).