​ Dan Wiener, editor of The Independent Adviser for Vanguard Investors, reminds us that the traditional year-​end spike in municipal money fund yields is in full swing. "​Since Dec. 12 ... Vanguard'​s Tax-​Exempt Money Market has seen its yield bound from 3.​37% to 3.​73% over the past 8 days. Various state tax-​exempt money funds are up between 36 and 38 basis points," he says.

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