Personal Finance Blog By MoneyRates - Money Market Funds
December 14, 2010
Despite the dismal housing market, Americans are making progress in rebuilding their wealth.
U.S. household net worth rose 2.2 percent to $54.9 trillion, a gain of $1.2 trillion, in the third quarter, according to recently released statistics by the Federal Reserve.
The uptick follows a decline in the spring, but continues a rebound since first quarter of [...]
February 26, 2009
The government will give a tax credit of up to $8,000 for many first-time home buyers in 2009. Is this a good deal? You bet.
January 30, 2009
The money fund industry witnessed one of its biggest challenges ever last September when the Reserve Fund dropped their net asset value below $1 after absorbing losses on securities issued by Lehman Brothers. Heavy redemptions and worries about other high-profile funds brought money funds to the front pages of newspapers for perhaps the first time [...]
November 24, 2008
A mutual fund money market is supposed to be a simple investment with a stable $1 share price with seemingly little differentiation between various funds. September 2008 showed that line of thought was a fallacy as several funds with heavy exposure to Lehman Brothers paper suffered losses significant enought to push their net asset value [...]
November 19, 2008
Federal Reserve Chairman Ben Bernanke addressed the mutual fund money market industry in comments made before Congress on November 18, 2008. The huge amount of money withdrawn out of money funds since September has been an ongoing aggravation in the credit crisis. Bernanke and the Fed have already addressed investor fears regarding money funds with [...]
October 13, 2008
Three of the largest mutual fund money market management companies have joined the long list of companies opting to participate in the Treasury Department's emergency insurance program for money funds. Fidelity Investments, T.Rowe Price, and Vanguard, who combined hold an estimated $1 trillion in money market funds, all have officially signed up for the program [...]
September 21, 2008
One of the major developments last week was the initiative announced by the Treasury Department in which the Treasury Department will temporarily back up money market mutual funds with a new federal guarantee program. The program applies to funds in money markets before September 19, 2008. The press release from the Treasury Department summarizes the [...]
September 16, 2008
The devastating week for financial companies continued today after Primary Reserve Primary Fund became the first money-market fund in 14 years to drop their net asset value below $1 after writing off $700 million of debt issued by bankrupt Lehman Brothers Holdings Inc. and experiencing large withdrawals. Primary Reserve Fund is actually the oldest money [...]
August 13, 2008
Finicity is a money management site which combines their money management tool called Mvelopes with advice and data from mentors, groups, and financial experts for their members. The envelope-style money management tool allows to track their monthly spending versus their monthly budget and make adjustments on the fly. The social finance part of the site [...]
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May 9, 2008
A quick look at the top yielding bank money market account rates in comparision to some of the money fund yields offered by the nation's largest mutual fund companies indicates that bank money market account yields are siginificantly higher. Bank money market accounts and mutual fund company money markets (money funds) both offer accountholders the [...]