The Wall Street Journal writes "​Savers Feel Pinch Of Tight Credit" about banks cutting rates (​mentions money funds). It says, "Another alternative for savers are money-​market mutual funds. Yields are currently averaging 2.​74% for the 100 largest funds, but are expected to drop to about 2.​5% by mid-​April, according to Peter Crane of Crane Data LLC. Although the securities aren'​t insured by the FDIC, no retail investor has ever lost money in a money-​market fund, he says."

Also today: FT "​Worried hedge funds move cash", BusinessWeek "​From the Mail Bag: How Safe is Your Cash?", Bloomberg "​Legg Mason Profit Cut by Pact to Support Money Fund", and WSJ: "​Legg Mason to Cover Some Fund Losses".

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