Interest Rates Take a Dive
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Every turn in the economy produces both winners and losers, and the relative losers this time could be people with cash in the popular money-market funds. These have paid an average annual return of as high as 17% in the past twelve months. Since the funds make their money by investing in short-term Government securities and bank certificates of deposit, they will no longer be able to pay out as much as they did before. The average money-market yield is already down to about 11.5% and is likely to drop still further.
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