Federated’s Cunningham on the fight to save prime MMFs
SEC reform proposal could be final nail in coffin for institutional prime funds
The combination of rising prices and interest rates has put most fund managers on the back foot. But for managers of prime and municipal money market funds (MMFs), things are finally looking up – or they were, until the US Securities and Exchange Commission (SEC) threw a spanner in the works.
Runaway inflation, and monetary policy efforts to curb it, have caused spreads between government debt and short-term dollar paper from other issuers to widen – a sharp contrast with recent years, when US
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