WSJ: "Muni Money-Fund Yields Surge"
Saturday's Wall Street Journal writes "Muni Money-Fund Yields Surge", which says, "Municipal money-market yields are soaring as investors flee tax-exempt debt in a rush to safety across the credit markets. Many of these tax-free funds are now topping 5% in seven-day yields. The $3.4 billion USAA Tax Exempt Money Market Fund is yielding 5.26%, up from 1.89% at the end of August, according to Crane Data LLC. The $24 billion Fidelity Municipal [Money] Market Fund is yielding 5.21%, up from 1.62% in August." Also, see yesterday's video of Federated's Deborah Cunningham on Bloomberg TV. Cunningham talks "about investor sentiment on money-market funds, the integration of Putnam Investments LLC's Putnam Prime Money Market Fund into Federated, and fund investment strategy." Finally, see Bloomberg's "Jittery Money-Market Investors Await Treasury Guarantee Details".
