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Sunday, August 12, 2012 - Page updated at 08:00 p.m.
Money-fund assets rise, yields are flat
By The Associated Press
NEW YORK — Total U.S. money-market mutual-fund assets rose $10.94 billion to $2.562 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.
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 in Westborough, Mass.
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 was unchanged at 0.12 percent from the previous week.
Bankrate.com said the annual percentage yield on six-month certificates of deposit was unchanged from the previous week at 0.2 percent. It rose to 0.32 percent from 0.31 percent on one-year CDs. It was unchanged at 0.50 percent on two-year CDs.
It was also flat at 0.50 percent on two-and-a-half-year CDs. It fell to 1.05 percent from 1.06 percent on five-year CDs.
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