Measuring money... faster, cheaper, cleaner
Crane 100 Money Fund Index
The Wall Street Journal writes "Money Funds Buck Euro-Zone Retreat"
. It says, "At a time when many money-market mutual funds are piling out of Europe, some are looking for more of it in their quest for higher returns
. Eight of the 20 money funds with the most exposure to Europe, as measured by total assets at the end of May, increased their euro-
zone holdings between last August and May 31, according to iMoneyNet
, a research firm in Westborough, Mass. Managers of the eight money-market mutual funds that ramped up their European holdings include BlackRock Inc. and Goldman Sachs Group Inc.
. Officials at such funds insist they aren'
t taking bigger risks, noting their heightened exposure to Europe is coming through short-
repurchase agreements" issued by European banks.... Yields on repos backed by Treasurys have jumped to an annualized 0.17%, up from 0.11% in August
, according to the Depository Trust & Clearing Corp.
, a securities clearinghouse. In contrast, the average annualized yield on money funds has shriveled to 0.06%, down from 5% in mid-2007, says researcher Crane Data LLC