If you look at the performance of money market funds versus ultra-shorts, ultra-shorts have really held up well. They've done what they were designed to do: They've preserved principal and provided more yield than the money market. And even though the gap has narrowed, they're still yielding more . . . and over time, that little bit can add up to a lot.
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Most funds we see keep their interest rate bets to a minimum.
It is a continuous cycle. When we ship it out, we hope they will take them to a recycle center, and they send them somewhere else.
It's good to recycle them to help the environment instead of throwing them into a landfill. They will never go away there.
It's been a really mixed bag.
This group hasn't been fazed by the Federal Reserve's string of interest rate hikes.
And as rates go higher, that should go higher, too.
We're very happy (to get two sweeps). We heard a lot of good things about Minot State coming in here.
Yields are compressed in a very narrow range close to 4%.