Russ Wiles of the Arizona Republic writes "Money funds: Another bubble deflating?" The article asks, "First stocks, then real estate. Now, money-market mutual funds?" Wiles says, "If you didn't notice, a lot of cash had been piling up in money-market mutual funds lately. In fact, global money-fund assets hit a record $5 trillion in the third quarter, with U.S. money-fund assets topping $3.5 trillion in early April. But investors are starting to pull out their cash ... reports Money Fund Intelligence newsletter, which speculates that 'the largest cash buildup in history may be at an end'". Reasons include easing fears and falling yields. "Crane Data, which publishes the Money Fund Intelligence newsletter, cites a 2.08 percent average yield on money funds at the end of April. That's down from nearly 5 percent roughly a year ago."

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