Money Market Mutual funds moved into Treasury Bills
The ultra-conservative Money Market Mutual Funds withdrew $100 Bn from the commercial paper market across two days (in effect an old fashioned bank run) and put most of it into Treasury Bills (perceived to be the safest haven amid the uncertainty).
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
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Immediate triggers of the financial crisis? »Immediate triggers of the financial crisis?
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Sudden evaporation of market confidence/trust »Sudden evaporation of market confidence/trust
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Commercial paper market froze up suddenly »Commercial paper market froze up suddenly
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Money Market Mutual funds moved into Treasury Bills
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Money Market Mutual Funds spooked »Money Market Mutual Funds spooked
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Commercial paper market is freezing up »Commercial paper market is freezing up
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