AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 No Change 0 (0%)
BR30 31,713 No Change 0 (0%)
KSE100 97,328 No Change 0 (0%)
KSE30 30,192 No Change 0 (0%)

US money market fund assets have hit their highest level since October 2009, as investors piled more cash into these low-risk products despite a lessening of concerns about US-China trade tensions, a private report released on Wednesday said. Assets of money funds, which are seen as being nearly as safe as bank accounts, climbed by $24.57 billion to $3.355 trillion in the week ended Sept. 10, the Money Fund Report said.
This brought their year-to-date increase in fund assets to about $385 billion. Money funds are offering investors higher yields than some Treasury maturities. That, however, would change if the Federal Reserve reduces borrowing costs further to counter deteriorating business activity and the trade conflict between the world's biggest economies. The Fed cut interest rates for the first time since 2008 in July. The interest rates market signaled traders are prepared for another rate decrease at the Fed's upcoming meeting later in September.
Taxable money fund assets climbed by $24.12 billion to $3.220 trillion, while tax-free assets increased by $443.5 million to $135.07 billion, the report, published by iMoneyNet, showed. The iMoneyNet average seven-day simple yield for taxable money funds dipped to 1.75% from 1.76% the previous week. The weighted average maturity among taxable funds was lengthened by one day to 32 days. The iMoneyNet average seven-day yield for tax-free and municipal funds fell to 0.91% from 0.97%. The weighted average maturity of tax-free funds grew one day to 34 days.

Copyright Reuters, 2019

Comments

Comments are closed.