5-2 Money Markets Money markets involve debt instruments with original maturities of one year or less Money market debt issued by high-quality (i.e., low default risk) economic units that require short-term funds purchased by economic units that have excess short-term funds little or no chance of loss of principal low rates of return Most money market instruments have active secondary markets to provide liquidity Money markets involve debt instruments with original maturities of one year or less Money market debt issued by high-quality (i.e., low default risk) economic units that require short-term funds purchased by economic units that have excess short-term funds little or no chance of loss of principal low rates of return Most money market instruments have active secondary markets to provide liquidity
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