Reuters writes, "Money funds cut maturities despite rate cuts - Crane"

Jan 30 08

Reuters writes, "Money funds cut maturities despite rate cuts - Crane". The article says, "Managers of money market mutual funds normally lengthen maturities in their portfolios when interest rates fall, but in the current round of cuts they have been doing the opposite, Peter Crane, president and publisher of Crane Data LLC, said on Tuesday." It quotes Crane, "In this environment, because of the the asset-backed commercial paper crisis and concerns about potential redemptions, everybody has been getting shorter".

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