See Paul McCulley's Bloomberg TV comments regarding PIMCO's new money market funds from earlier this week. McCulley told Bloomberg, "I think everybody who's a manager of a money market fund is struggling with these incredibly low yields, because, remember, money market funds have a weighted average maturity of 60 days or less. We've had a Prime money market fund ... for over 20 years. What we're doing is we're filling out our suite of money market fund offerings.... We've discovered that there's some investors who want the absolute assurance of being in a government-only or Treasury-only fund, so we're meeting the market demand." See also, USA Today's "Money funds relatively safe for savings, but yields are low".
