​ Yesterday'​s sharp market drop and continued turmoil in the subprime and adjustible rate mortgage sector caused a spike of cash into money market funds and raised the odds of a Fed rate cut. Growing problems are also increasing the chances of the contagion snowballing and impacting the tiny slice of esoteric mortgage-​backed, money fund-​eligible securities. Thankfully, though, very few money market funds held the potentially-​troubled "​extendibles" as of their latest public disclosures. Contact Pete for an update or watch for the March Money Fund Intelligence for details.

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