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Federal Reserve's rate hike likely to boost savings' rates, bond funds.
Knight Ridder/Tribune Business News, July, 2004
By Matthew Lubanko, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jul. 1--Retirees and people near retirement in recent years have flocked to bond funds, getting a measure of security and steady, if not spectacular returns since 1999.
But with rates rising on one-, five- and 10-year U.S. Treasury notes in recent months, bond prices have fallen, pulling down the share prices of bond mutual funds and triggering an exodus of billions of dollars from those funds in April and May.
The Federal Reserve's decision Wednesday to raise short-term interest rates is likely to further depress bond prices. But it also will make a variety of alternatives -- including good old-fashioned certificates of deposit -- more attractive to...
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