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What Will Break First? | Joseph Wang & Peter Crane
Forward Guidance
Money Market Funds - What Are They Doing?
i saw an interview with you in two thousand a seven where you said the exact same thing. And obviously that turned out to be a good call, because on one of the money market funds aa broke, broke the buck where you could it was went to 97 cents. So even three quarters of a percentage point above what the average is, that's, that'sit, warning signal. It's a major warning signal. I also want to introduce quickly that the money market system now is somewhat safer than in two thousand eight in terms of the credit quality. A lot of money market funds, by us, treasuries, bosy treasury bills, or a coupo zar,
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