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Why Money Markets Should Be Expecting A Bumpy September
@Ted 's transcription is correct. But I doubt any MMF ever grows weary of rolling over paper. To paraphrase GEICO, if you're a MMF, that's what you do.
Rather, given the rate of outflows, prime MMFs are likely wary of rolling over paper into new three month holdings. As the WSJ writes:
Because prime funds are afraid of facing even stronger outflows after Oct. 14, they’ve been weary of stashing their money in assets that mature after that.
"Weary" is repeated, so it's not a typo. In the WSJ. Is nothing sacred?
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Rather, given the rate of outflows, prime MMFs are likely wary of rolling over paper into new three month holdings. As the WSJ writes: "Weary" is repeated, so it's not a typo. In the WSJ. Is nothing sacred?