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Inflation And One Of Its By-Products High Interest Rates
Inflation drives a shift to money market funds and floating rate notes as investors chase higher yields. The piece notes rising rates 7 to 9 percent on Treasury bills, new mutual funds like Reserve Fund and Capital Preservation Fund, and the move by individuals and institutions to short term securities and assets such as art and gold to hedge against inflation. It cites Citicorp floating rate notes of 650 million at 9.7 percent and New York Bank for Savings planning 50 million, with broader impacts on savings deposits and investor behavior.
MENTIONED IN THIS ARTICLE
Chet Carrier
NEW York
Treasury
Federal Reserve Bank of New York
Reserve
Lipper Analytical Services
Capital Preservation Fund
U.S. Treasury
U.S
Michael Lipper
Lipper
Nity
National Association of Mutual Savings Banks
States
Puerto Rico
Savings and Loan Associations
New York Stock Exchange
Nmber
Chicago Board of Trade
Citicorp
First National City Bank
James D. Farley
Dick Grace
Washington
Grace
Gloria
Institute of Life Insurance
Graces