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Update on muni money markets

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October 14, 2008 – Comments (0)

It looks like the party in muni money market funds is coming to an end. FTEXX yielded 2.77% as of yesterday, and other muni MM funds yielded a bit less. It looks like the commercial paper market in general is starting to thaw somewhat - the yield got over 5% for a few days. The yields on Fido's muni MM funds are still only a little less than their taxable funds, though. Their institutional MM funds are just over 3%. Their cash reserves fund (FDRXX) yields 2.78%.

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