Daily Links Archives: March, 2007

Moody's International Structured Finance Report: "Extendible Notes and Money Market Funds" says the European market for extendible notes is "still in its infancy".

The Freeport News, Grand Bahamas First Newspaper, writes on "Parking Extra Cash" and suggest bank CDs, money market funds (which " offer a higher rate than the savings and or CDs"), and bonds or bonds funds as alternatives for Bahamians.

Investment Company Institute President Paul Schott Stevens Spoke at ICI's Mutual Funds and Investment Management Conference in Palm Desert Monday. He called for "Reform of Mutual Fund Disclosure" and proposed a "Quick-Start" Guide for Funds.

Bloomberg Writes: "CDOs May Face Severe Ratings Cuts on Subprime, Moody's Says". Alas, the real damage may not be done yet.

The Boston Globe Writes About Online Banks Offering Checking Accounts, citing E-Trade's new 3.25% checking (need $50K in assets) and ING Direct's new Electric Orange 4.0% checking programs.

Dominion Bond Ratings Service has changed its name to DBRS and has launched a new website at www.dbrs.com. The private Canadian company rates, bonds, commercial paper, securitization and structured finance issues.

Schwab Short-Term Bond and YieldPlus Win Lipper Fund Awards says a Schwab press release. "Schwab YieldPlus Fund, which has over $12 billion in assets and is the largest in its category, seeks higher yield than a money-market fund," says the release.

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Morgan Stanley says $16 billion is in client "sweep" assets in its latest earnings report, which says it earned "higher net interest revenue" from sweeps.

Businessweek.com (via AP) reports that The Reserve will provide the back-end to A.G. Edwards insured brokerage sweep program in last night's, "The Reserve in deal with A.G. Edwards" news brief.

Financial Week writes "No End in Sight for Money Fund Growth" and lists several "Top 10" rankings tables from Crane Data's Money Fund Intelligence.

"Money markets catch cash flow" says New York Daily News, citing increases in money funds following late February's market drop.

Moody's "Lessons from recent liquidity squeeze affecting China money market funds" examines the rapidly shrinking 112 billion RMB (yuan) Chinese money fund sector.

Lending Tree has added high yield savings accounts to its menu of marketplaces says a PR Web press release "Learn More About High-Yield Savings Accounts" .

ICI's latest asset figures show money funds declined $8.4 billion to $2.42 trillion the week ended March 14. A corporate tax date (15th) and Treasury settlements pulled cash from institutional money funds.

"For safety, cash rules, but only in short term," says Reuters. The article talks about investors fleeing to safety, saying "the most attractive instruments appear to be cash and money market instruments."

"We saw extremely heavy inflows," said Timothy Huyck, a portfolio manager at Fidelity Investments, in an Associated Press story on the market selloff two weeks ago.

We found a link to this new website, www.newfinancedeals.com when visiting one of our favorites, www.bankaholic.com.

"Fund Investors Dump Stock after pullback" writes MarketWatch citing Banc of America strategist `Thomas McManus' commentary on fund flows.

The Institute for International Research (IIR) hosts the biggest conference focusing on money markets and money funds, Money Market Expo (MMX), March 20-22, in Orlando, Fla.

Bloomberg.com writes "Lehman Cuts Prime Mortgage Lenders on Default Risks".

The Hindu Business Line gives a review of recent Indian budget proposals which include plans to withhold tax on money market funds at a 25% rate, removing money funds advantage over Indian banks.

The Texas Treasury Management Association will host TEXPO 2007 conference in Dallas, March 26-27, 2007. Many institutional money funds will be exhibiting.

Deutsche Bank has re-launched its DWS Scudder funds website at www.dws-scudder.com. Click here for the money fund page.