Note to Self: Money Market Funds Are Mutual Funds

Note to Self: Money Market Funds Are Mutual Funds

The Wall Street Journal reports today that Moody's Investors Service downgraded debt securities issued by "38 closed-end mutual funds last week could ripple across financial markets, affecting a broad swath of municipal-bond and money-market-mutual-fund managers, analysts said." Guess who often buys variable-rate demand preferred shares? Yup, money market funds.

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