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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 15, 2002
Page
38
Nervous customers visit branches to open savings or money market accounts and discuss investments as concerns rise over stock market losses. Banks push safe havens and free advice to win new deposits, highlighted by ads offering solid yields.
The seven day average yield on money market mutual funds declined to 1.24 percent for the week ending Tuesday from 1.27 percent, with the 30 day average dropping to 1.25 percent. Money Fund Report notes the average portfolio maturity shortened to 53 days from 55. Bankrate estimates meanwhile show money market account yields at 1 percent with CDs ranging down across several terms.
A reader asks how to erase debts incurred as a minor on false age. Credit bureaus verify details with lenders and negative items typically stay seven years. bankruptcy harms for 10 years. Negotiating with creditors or seeking Consumer Credit Counseling Services may reduce payments or consolidate debt.
Analysts who track patterns argue the Dow may rebound after a selloff. Figures like 7702.34 on July 23 and forecasts from Don Wolanchuk and Joseph Granville bolster claims that the next leg of the bull market could propel stocks higher, though traditional advisers warn timing is not reliable.
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