HOLD - Goldman money funds' liquidity cushion grows before U.S. election - Reuters

Two Goldman Sachs ([[GS]] -1.4%) money-market funds, which swung wildly as investors withdrew billions on dollars, are piling up a liquidity buffer much larger than those of its rivals ahead of the U.S. presidential election and amid rising coronavirus cases, Reuters reports.The funds' weekly liquidity — a gauge for how quickly investments can be converted to cash in a week — increased to 85% of total assets this week, or double the level when in March the bank added almost $2B of its own capital to keep the funds from slipping below the regulatory weekly liquidity threshold of 30%.The two funds are the GS Financial Square Prime Obligations Fund and the GS Financial Square Money Market Fund.Average weekly liquidity at ~111 U.S. prime institutional money-market funds was 66% at the end of September, up from 54% in the year-ago period, according to a Reuters analysis of U.S. regulatory filings. Those

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Goldman money funds' liquidity cushion grows before U.S. election - Reuters