Bloomberg writes "​Auction-​Rate Bond Market Will '​Cease to Exist', Citigroup Says". The article says mutual funds and money funds may benefit at the expense of brokerage firms due to troubles in the auction-​rate securities market. It quotes Citigroup analyst Prashant Bhatia, "​Basically, clients could stop using the services of their brokerage and/​or asset management firms as a result of a loss of trust.... Plain and simple, the money fund turned out to be a superior product and as the ARS crisis is resolved, we expect inflows into money funds." Bloomberg adds, "​It will also benefit firms such as Federated Investors Inc., BlackRock Inc., and Charles Schwab Corp. that have large money-​market funds."

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