WSJ's "Market Drop, Fed Cut Create Opportunities For Cherry Pickers"
WSJ's "Market Drop, Fed Cut Create Opportunities For Cherry Pickers", says, "Money-market mutual funds, whose yields are currently averaging 4.32% for the 100 largest funds, are likely to fall to about 3.5% in about a month, says Peter Crane of Crane Data LLC. "If we get another cut, we may be on our way to 3%," he says. Also, USA Today's "Rate cut should help borrowers, ease credit tightness", says, "Expect money market mutual fund yields to fall three-quarters of a percentage point, to about 3.25%, within the next 30 days, says Peter Crane, president of Crane Data in Westboro, Mass. Money fund yields typically track the fed funds rate." Finally, Newsday's "Fed cut will help some, hurt some" quotes Pete Crane, "The Fed cuts are good news for everyone but savers."
