January 10, 2010 |
The plug got pulled on money market mutual funds in 2009. Total assets of money funds plummeted by nearly $500 billion, to about $3.26 trillion at the end of the year, a drop of 13% from the end of 2008, according to IMoneyNet Inc. The cash poured out because the Federal Reserve's policy of near-zero short-term interest rates also reduced money fund payouts to nearly zero. The average annualized yield on taxable money funds now stands at a barely detectable 0.03%. At that yield, a $10,000 balance in a money fund would earn $3 a year.
February 4, 1988 |
Yields on 10-year Treasury notes fell in Wednesday's auction to the lowest level in a year as the government completed the second of three major debt auctions this week. The average yield was 8.21%, down from 8.88% at the last quarterly auction on Nov. 4. It was the lowest rate since 10-year notes averaged 7.25% on Feb. 4, 1987. The notes will carry a coupon rate of 8.125%, with each $10,000 in face value selling for $9,942.70.
November 10, 1992 |
Yields on three-year Treasury notes rose in Monday's auction to the highest level in six months as the government began its $37-billion quarterly refunding. The average yield was 5.17%, up from 4.69% at the last auction Aug. 11. It was the highest rate since three-year notes averaged 5.96% on May 5. The notes will carry a coupon interest rate of 5.125%, with each $10,000 in face value selling for $9,987.70. A total of $15.56 billion in notes was sold out of bids totaling $36.12 billion.
July 15, 1990
Highest seven-day compound yields for period ended July 10. Yields represent compounded rate of return to shareholders for past seven days. Past returns are not necessarily indicative of future yields. Investment quality and maturity may vary among funds. GOVERNMENT ONLY Average 7.79% 1 Fidelity Spartan US Govt MMFk 8.69 2 Benham Govt Agency Fund k 8.41 3 Fidelity US Treasury MMF k 8.34 4 Transamerica US Govt Cash Res k 8.29 5 Dreyfus US Guar MM Acct LP k 8.25 6 Kemper Money Market Govt Port 8.
June 10, 1990
Highest yields reported by federally insured banks and thrifts as of June 6 based on the lowest minimum deposit to open an account. National average based on yields offered by 100 largest banks and thrifts in the 10 largest markets. Southern California averages based on yields offered by 10 largest area banks and thrifts. MONEY MARKET ACCOUNT National average: 6.20 S. California average: 5.82 First Signature B&T, Portsmouth, NH: 8.33 Metro. Bank for Svgs, Arlington, VA: 8.