​ 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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