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Whopee! The 1% Can Now Earn the Equivalent of Over 1% on its Cash!

Money-market mutual-fund reform, slated to take effect on Oct. 14, has pushed up the London interbank offered rate sharply. Three-month Libor has risen about 50 basis points (one-half percentage point), to a hair over 0.85%, twice as much as the Federal Reserve has lifted its federal funds target range, which has stood at 0.25%-0.50% since […]
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