In the Margins
The Securities and Exchange Commission's efforts to make money market funds safer are giving investors a reason to flee the $2.7 trillion market, putting unintended stress on a crucial funding source for cities, counties and foreign banks. “You could see $400 billion move out of the private credit markets,” said John Tobin, head of global liquidity portfolio management at JPMorgan Asset Management. “That has implications.” Read the original story from The Wall Street Journal.
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