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Lecture Financial markets and institutions: Chapter 5 - Anthony Saunders, Marcia Millon Cornett

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Lecture Financial markets and institutions: Chapter 5 - Anthony Saunders, Marcia Millon Cornett

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Chapter 5 - Money markets. In this chapter, we reviewed money markets, which are markets that trade debt securities with original maturities of one year or less. The need for money markets arises because cash receipts do not always coincide with cash expenditures for individuals, corporations, and government units. Because holding cash involves an opportunity cost, holders of excess cash invest these funds in money market securities.

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