Press Releases Archives: August, 2008

Bloomberg writes "Fannie Sells $2 Billion in Debt at Higher Yields", which quotes Crane Data's President Peter Crane, "The rising spreads clearly show some buyers are backing away from the market.... But in general I think money funds continue to buy and hold Fannie and Freddie debt: They assume the short-term money-market debt will be safe and covered." Crane adds, "There's no other place to go, now that money funds are out of SIVs. A lot of people are looking at the rise in spreads as a godsend."

The press release "Deutsche Bank's Institutional Asset Management Business Launches Initiative to Enhance Transparency of Money Market Funds Reporting" was released yesterday afternoon, announcing DB Advisors and Clearwater Analytics launch of Money Fund Transparency. It quotes, "Long gone are the days when a money market funds' quarterly holdings read like a "Who's Who" of corporate America. The subprime liquidity crisis has driven investors to demand more detailed information on their money market fund investments, and there is a clear need for analytics and metrics to assist them in interpreting this information. The time is ripe for transparency and simplicity," says `Peter Crane, president of Crane Data and publisher of industry newsletter Money Fund Intelligence.