Crane Data Subscribers
Bloomberg.com's article "Lehman No Bear Stearns as Money Markets Show No Panic" discusses TED spreads and LIBOR, but has no direct mentions of money market funds. Lehman continues to be rated "First Tier" (A-1/P-1), though it is on review. Managers Crane Data has spoken to believe Lehman's CP, MTNs and repo remain "money good," and that the company's access to the Fed's Primary Dealer Credit Facility and Term Securities Lending Facility make a default scenario very unlikely. They're of course also hoping that their concerns will be put to rest this weekend with a merger.
