Bloomberg writes "Auction-Rate Notes Leave Investors in Cash Purgatory. The article reviews the woes and pending resolution of the auction-rate securities market deep freeze. It says, "Money that had been sitting in auction-rate securities, ultra-short bond funds and enhanced cash funds is flowing to money-market funds. More than $1 trillion poured into money markets during the past 52 weeks, as investors fled more volatile markets, said Peter Crane of Crane Data LLC, a mutual-fund tracking company in Westborough, Massachusetts." It quotes Crane, "If you need money tomorrow, it's got to have 'money market' in the title." He cites both money-market funds and bank money market deposit accounts as safe.
