Federated Investors' "Cash Market Update" Says All Good for MMFs. Federated's Deborah Cunningham writes in her most recent (July 9) commentary entitled "Money market funds moved to lengthen maturities in June", "The cash yield curve steepened in June as the preponderance of economic data persuaded investors that growth was strong enough - and inflation persistent enough - to keep Fed policy on hold until next year.... In our view, the backup in interest rates created attractive opportunities at the longer-end of the cash yield curve. Cunningham adds on subprime mortgage and CDO issues, "So far, fallout from weakness in those sectors has mostly been felt in the bond market; spreads on money-market eligible securities have not been effected to any significant degree.

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