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it is no more relevant then the 7 day average return on a stock fund .
it is simply what was most recently in the rear view mirror…
some major economic event could have things shift tomorrow.
money market rates follow fed funds futures which shift daily based on market sentiment about short term rates .
this is why money market rates don’t shoot up a 1/4 point when the fed makes their announcements. if fed fund futures are already reflecting the 1/4 point then the feds announcement merely confirms what already adjusted
So what does this all mean? If I put $1000 in it on August 1st, assuming it's the 5% 7-day Yield, how much would the $1000 get me after 30 days? For simplicity lets hypothetically assume rates don't go up or down...they just stay at the 5%
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