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UBS - Money Markets May Be At Risk Of Breaking The Buck
UBS Group AG Registered
Investment Theme
In liquidating both stock and bond positions in their portfolios, investors have been piling into money market funds anticipating that their funds are safe there. But like other fixed income products, money markets invest in some combination of government and corporate debt and can be susceptible to strains in the bond market.
With corporate bond spreads spiking and the risk of downgrades/defaults rising, money market funds with a high percentage of assets in commercial paper could be at risk of losing value.
Background
With equity prices continuing to dive deeper into bear market