USA Today writes "Investors cash out of money funds in droves". It says, "Investors are yanking money out of money funds and moving to bond funds -- but some are just cashing out. Investors pulled a net $490 billion from money funds this year through October, according to the Investment Company Institute, the funds' trade group. A record-shattering $313 billion went to bond funds. And $1.9 billion fled stock funds." USA Today quotes Vincent Deluard of TrimTabs.com, "More money is flowing out of money funds than is going into bond funds -- something that's only happened twice in 26 years. It shows how deep the recession is: They may be taking money out to pay the bills or the mortgage." In other news, see AP's "With rates so low, where should you put your cash?".
