Crane Data Subscribers
Money Market Funds Are Safe Says Crane Data's Peter Crane on CNBC. Today, on CNBC's "Power Lunch", Crane Data President Peter Crane tells investors and investment professionals, "There have been no defaults, there has been no 'breaking-of-the-buck'" [declines below $1.00 a share], and there's been no trouble that would impact investors to-date." Crane says only one money market fund has ever dropped below $1.00 a share (Community Bankers U.S. Government Money Market Fund was liquidated at 96 cents on the dollar in 1994). Crane believes that money market mutual funds are in no danger of 'breaking-the-buck' and that asset-backed commercial paper, which represents about 15% of money fund holdings, has many layers of protection. "They often have bank loans, oversubscriptions and additional protections." To see the video, click here.
