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Times Staff
Yields on money market mutual funds took a dive in the last week, after the Federal Reserve’s latest half-point interest rate cut, according to Imoneynet.com. The average 7-day compound yield on taxable funds slid to 4.42% as of Tuesday from 4.66% a week earlier, the firm said. The yield has tumbled from 6.09% at the start of the year--just before the Fed began its rate-cutting campaign.
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