I have been looking at some houses recently. In my area (San Francisco bay area), houses are sitting longer in the market. I noticed that several houses, upon reaching 60 ~ 70 days in the market were re-listed. The ironic thing is that some listing agents would add “Hot listing! This house would not last [...]
It sure looks like there are more municipal reset bond auction failures today. Shown below are today’s auction results (as given by Fidelity) for California:
Some of the issues are resetting at more than 10%!
Update: After this post was made, Bloomberg’s posted an article on this issue [LINK].
Just a quick note on money market fund (MMF) yields. Ever since the two rate cuts last month, MMF yields have been dropping daily as the new rates get factored in.
When I checked this morning, the gross compounded yields, and the after-tax* yields for me, are as follows
VG Prime MMF (VMMXX) : 4.13%, 2.35%
VG Treasury [...]
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