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"​Rate cut pinches yields on savings" Says Associated Press. "Money-​market yields fall with the Fed because the assets they buy are pegged in many ways to the Fed funds rate," the article quotes Peter Crane, president of money-​fund tracker Crane Data. The piece says, "Money-​market funds are focusing on even shorter-​term securities than usual to reduce risk. Many have shied away from mortgage-​backed securities in recent months, as credit quality has weakened".

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"​Lock in a solid savings rate" writes CNNMoney.​com. The article discusses CDs, money markets, and the Fed rate cut'​s impact on savers, and quotes Crane Data'​s Pete Crane, "There is no secret to money fund yields - they follow the Fed. They will drop, and drop rather quickly.... The decline may get diluted or delayed slightly [​by high rates on asset-​backed commercial paper]. But it'​s coming - there'​s no doubt about that."

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FT.​com says "​Commercial paper activity shows signs of steadying". "The commercial paper market showed significant signs of stabilising on Thursday, suggesting short-​term investors that have driven a dramatic shrinkage in the market may have largely completed their exit from commercial paper backed by mortgages and other assets," says the FT. The paper quotes Peter Crane, "​Since problems in the commercial paper market began, much of the paper has probably already turned over.... Contraction in CP is not a sign of weakness, it'​s one of strength as issuers are escorted in an orderly manner out of the market."

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