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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 17, 2003
Page
36
Advice column on a mother confronting her daughter’s bounced checks and the $150 in bank fees. It outlines financial consequences, impact on credit, and practical remedies including budgeting, repayments, apologizing, and possible overdraft options.
The seven day and 30 day average yields on money market funds fell to 0.51 percent and 0.53 percent respectively for the week ended Tuesday, with assets in retail money market funds dropping to 998.57 billion dollars. Bankrate com showed a 0.52 percent annual yield for money market accounts and 0.26 percent for checking. CD yields edged higher across maturities while overall retail fund assets declined.
The piece notes that Bush tax-cut rebates of 400 dollars are likely to boost U S spending as households such as Jodi Fields and Luigi Esposito earmark funds for cameras and boats. Economists forecast growth of 3.3 to 4 percent in the second half of the year as shoppers spend and businesses invest.
U S Treasury bonds have fallen about 10 percent in two months fueling warnings for college savings plans. Analysts urge moving 529 funds from intermediate bonds to short term options to reduce risk as tuition costs rise and markets adjust. Long dated bonds lose more when rates climb.
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