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Article: MARKETS Building money markets' yields; Investors try to increase gains in lagging accounts
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- September 19, 2004
- Author:
CopyrightCopyright 2004 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Building money markets' yields
Investors try to increase gains in lagging accounts
Michael J. Steppe's response to the way money market yields have
lagged behind the rise in interest rates is to fashion what he calls
a "cash barbell" for his clients.
Steppe, chief investment officer at Brookfield Investment Partners
LLC, puts Treasury bills on one end of his barbell and Treasury
Inflation Protected Bonds, or TIPS, on the other to create a heftier
yield than what the average money market fund is offering. TIPS are a
special type of treasury note or bond adjusted to the inflation rate.
That's one approach.