Another sign that we may have seen...

Another sign that we may have seen the peak in interest rates: The average seven-day compound yield on taxable money market mutual funds fell in the last week, the first decline since late April. The average yield dipped to 6.10% from 6.15% the previous week, according to fund-tracker Imoneynet.com.

For most of this year money fund yields have been climbing as the Federal Reserve has continued to push up short-term interest rates. Money funds, which buy short-term government and corporate notes, closely track the Fed’s moves. Now “I think we’ve definitely seen the peak” in yields if the Fed, as many economists believe, is finished raising rates, said Imoneynet.com’s Peter Crane.