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More bad news for savers where unemployment is high
In the category of more proof that life is not fair, it turns out that bank deposit interest rates are closely tied to state-level unemployment rates. While yields on deposits are low and trending lower all over the country, depositors in states where unemployment is lower have been enjoying higher
Gross says low quality of debt threatens monetary system
Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., said the lower quality of sovereign debt represents a threat to the global monetary system.
Wealthy clients seek safe place to park cash
With interest rates barely measureable, cash isn't quite king anymore. But for wealthy investors, cash remains an important asset class, where safety and returns — however paltry — have assumed greater importance. “As cash levels have grown, clients are trying to figure out ways to get something by
Retail money fund deposits fall as investors go to online banks, insurers
Many financial advisers aren't surprised that investors pulled $10 billion from money market funds in a recent week as they sought out higher-yielding options to park cash. “More people today are looking at many other options than money markets, compared to even a few years ago,” said Tom Hoffman,
Former Schwab exec to pay $150K in SEC YieldPlus case
Ex-Charles Schwab Corp. investment company manager Randall Merk agreed to pay a $150,000 civil fine to resolve a Securities and Exchange Commission lawsuit accusing the company of misleading investors in its YieldPlus fund.
Corporate stash of cash is paying dividends for this fund
The nearly two-year trend of companies' hoarding cash due to economic uncertainty plays right into the hand of the $560 million JPMorgan Equity Income Select Fund.
What currency does Axel Merk like that ‘everybody hates'?
As all eyes focused on the equity markets, one easily overlooked development yesterday was the Treasury's 30-year bond auction. Guess which player didn't take part?
Pimco's Gross says bank fees to hold cash ‘unheard of'
Pimco's Bill Gross said Bank of New York Mellon Corp.'s decision to charge clients for large deposits shows how the government's efforts to revive the economy are distorting markets and hurting savers.
Money funds get $38B deposits after debt-ceiling deal
Money-market mutual funds took in $24.9 billion yesterday, bouncing back from their second-worst week of withdrawals, as investors unsettled by the debate over raising the U.S. debt ceiling returned to the market.
Dollar bear bets rise to highest since May on debt focus
Aggregate wagers against the greenback rose for the fourth consecutive week, data from the CFTC show.
Money funds have biggest redemptions this year amid debt talks
Investors last week pulled more money from money-market mutual funds than any week this year.
The buck stops fear? Treasury-wary advisers should consider cash
Financial advisers might want to consider their options with regard to cash management if for no other reason than peace of mind.
Federated plans to buck the tide on money funds
Some asset management executives would argue that now isn't a good time to be in the money market fund business
Merrill: Investors are 'index hugging' and moving to cash
Investors doubled their holdings in cash this month to the highest levels in more than a year as money managers remain divided on the outlook for the global economy, a BofA Merrill Lynch Global Research survey showed.
Money fund assets rose to $2.84T last week
Total money market mutual fund assets rose by $740 million to $2.841 trillion for the week, the Investment Company Institute said Thursday.
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Mary Beth Franklin, InvestmentNews
Harley Gordon, CLTC