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Thursday, November 05, 2009

Better Luck Next Year for Money Market Funds?

by: Armie Margaret Lee

Thursday's Wall Street Journal Fund Track column points out that with many economists seeing a Federal Reserve rate hike next year and government programs aimed at supporting money market funds are wrapping up, the future could bring slightly higher yields. That would provide relief for money fund firms that have been implementing fee waivers to maintain investors.

"These rays of hope may just be enough to give you courage," Peter Crane, president of Crane Data, was quoted in the article as saying. "It could make you walk a couple more miles in the desert, but you need that Fed-hike oasis to really survive."

Crane said he detected signs of hope in the way the Fed discussed the economy.

Others quoted in the article include Debbie Cunningham, chief investment officer for taxable money markets at Federated Investors and Barry Benjamin, U.S. leader of PricewaterhouseCooper's investment management and real estate group. 

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