Rates Current as of Friday February 10, 2012

It’s an accounting fiction. Money-market funds are just short-term bond funds. Although the target price for each share is $1, a bond might be at 0.998 cents on the dollar while another is at 1.00123 cents, and it all balances out to $1 per share.

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Why are money-market funds always priced at $1 per share?

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