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Systemic Risk

US money market funds: bucking up; Floating share price would be an admission that the funds are not risk-free

“It used to be so simple. Put a dollar in a money market fund and get a buck back. But come the financial crisis the Reserve Primary fund “breaks the buck” and investors stampede out of money market funds. Suddenly the veil is lifted on the risks to savings vehicles once seen as synonymous with cash.

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