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Regulatory
Sep 14, 2017
Since March 15, 2017, the U.S. Government has been using extraordinary measures to remain under the debt ceiling. Recent estimates are that these measures are likely to be exhausted in the beginning of October. Learn how our money market funds are positioned in light of this possibility.
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Regulatory
Sep 06, 2017
Originally released in 2010, Basel III focuses on preparing for bank runs and market stress while working primarily alongside Basel I and II rather than superseding those reforms.
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Regulatory
Sep 06, 2017
Basel III—a set of comprehensive reform measures aimed at strengthening the regulation, supervision, and risk management of the banking sector—is having a profound impact on the way banks view capital and deposits from investors. The new regulations are being implemented gradually by 2019, but the effects of the provisions are already being felt in the market as banks have started to adapt their behavior in line with the new rules.
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Market Insights
Aug 31, 2017
During August, the markets remained steady despite political uncertainty both in the U.S. and abroad.
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Education
Aug 24, 2017
A repurchase agreement (also known as a repo) is a sale of securities coupled with an agreement to repurchase the securities at a specified price on a later date. It is similar to a secured loan – the cash lender loans cash to a borrower and receives the borrower's securities as collateral.
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Education
Aug 24, 2017
VRDOs (also known as VRDNs) are debt instruments that generally allow issuers to receive financing at short-term rates when borrowing long-term. Making up approximately three-quarters of the total U.S. municipal money market, VRDOs can be a vital tool for municipal bond issuers seeking to diversify their debt structure and take advantage of the natural demand from tax-exempt money market funds.
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Market Insights
Jul 31, 2017
In July, the ECB and the FOMC kept interest rates steady amid mixed economic data.
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Market Insights
Jun 30, 2017
As global political uncertainty persisted in June, investors shifted their focus to central bank meetings in the U.S., EU, and the U.K.
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Market Insights
May 31, 2017
In its May meeting, the FOMC voted to keep interest rates unchanged, which was largely expected by the markets.
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Market Insights
Apr 30, 2017
In the U.S., investors focused on the minutes that were released from the March FOMC meeting. Uncertainty still remained around President Trump’s ability to deliver on his plans to spur economic growth, the potential U.S. Government shutdown and the French election.
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Market Insights
Mar 31, 2017
The FOMC raised interest rates for the third time since the 2008 financial crisis, which confirmed the Fed’s positive outlook on the economy and increased the current target interest rate range to between 75 and 100 bps. Fed Chair Janet Yellen cited growing confidence in the economy and markets generally reacted positively to the rate hike.
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Market Insights
Feb 28, 2017
February was a strong month for global markets as strong global economic data, hawkish comments from the Fed and continued positive performance from U.S. credit markets continued to encourage investors.
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Market Insights
Dec 31, 2016
Markets were largely driven by the FOMC’s meeting and the ECB announced a nine-month extension of its asset purchase program but scaled back on the amount of assets that the central bank will buy on a monthly basis.
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Regulatory
Dec 07, 2016
On December 7, 2016, the Permanent Representatives Committee approved, on behalf of the Council of the European Union, an agreement with the European Parliament on money market funds.
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Market Insights
Nov 30, 2016
In November, U.S. Treasury and bond markets were volatile following the U.S. presidential election, the eurozone inflation hit a 31-month high and the FOMC opted to not raise interest rates.
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Market Insights
Oct 31, 2016
Large outflows from prime and tax-exempt funds moved into government funds in response to U.S. money market reform, while the Fed appears positioned to increase rates in December.
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