Barron's writes "Money Funds Slowly Get Back on Their Feet", saying, "A money-market mutual fund is one of those things you don't really notice until they don't work. Everyone took notice in September, when many of these supposedly safe, low-yielding funds stopped functioning. But while economists, traders and pundits debate other aspects of the government's bailout package, the money-fund business seems to be responding well to multi-faceted treatment. The market has revived enough to hit a record $3.7 trillion in assets this year. The piece quotes Moody's Marty Duffy saying, "So far the government initiatives are achieving their objectives. Signs that conditions are improving include stable inflows into money funds, longers average maturities, a lower LIBOR, and a reopening of the commercial paper market. It also quotes Peter Crane, "Go down the list. Almost every major component of money funds is being backstopped -- repos, agency securities, asset-backed commercial paper, even certificates of deposit. It's not just belt and suspenders but also parachutes and safety net."
