Money-fund assets drop, yields are flat
NEW YORK — Total U.S. money-market mutual-fund assets fell $17.16 billion to $2.605 trillion for the week that ended Wednesday, the Investment Company Institute said this past week.
The seven-day average yield on money-market mutual funds was 0.03 percent in the week that ended Tuesday, unchanged from the previous week, said Money Fund Report, a service of iMoneyNet.
The 30-day average yield was also unchanged from last week at 0.03 percent. The seven-day compounded yield was flat at 0.03 percent. The 30-day compounded yield was unchanged at 0.03 percent, Money Fund Report said.
The online service Bankrate.com said its survey of 100 leading commercial banks, savings and loan associations and savings banks in the nation's 10 largest markets showed the annual percentage yield available on money-market accounts fell to 0.13 percent from 0.14 percent in the previous week.
Bankrate said the annual percentage yield available on interest-bearing checking was unchanged from the week before at 0.06 percent. Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged from the previous week at 0.22 percent.