Money-fund assets rise, yields dip
The seven-day average yield on money-market mutual funds fell 0.02 percent in the week that ended Tuesday from 0.03 percent in the previous week.
NEW YORK — Total U.S. money-market mutual-fund assets rose $16.16 billion to $2.555 trillion for the week that ended Wednesday, the Investment Company Institute said.
The seven-day average yield on money-market mutual funds fell 0.02 percent in the week that ended Tuesday from 0.03 percent in the previous week, said Money Fund Report, a service of iMoneyNet.
The 30-day average yield was unchanged from last week at 0.03 percent. The seven-day compounded yield fell to 0.02 percent from 0.03 percent. The 30-day compounded yield remained at 0.03 percent, Money Fund Report said.
Bankrate said the annual percentage yield available on interest-bearing checking accounts fell 0.05 percent from 0.06 percent the week before.
Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged from the previous week at 0.2 percent; remained at 0.31 percent on one-year CDs. It was flat at 0.51 percent on two-year CDs and at 0.50 percent on 2 ½-year CDs. It fell to 1.08 percent from 1.09 percent on five-year CDs.