A sector of the US finance industry that looks after $4tn of savings for individuals and businesses has come under severe strain as US markets flirt with negative interest rates.
Money market funds investing in short-term government debt have taken in hundreds of billions of dollars of new money from savers in recent months. But there is stiff competition to tap a dwindling supply of low-risk assets that generate positive returns.
The result has been a squeeze that has driven the yields on some debt below zero, rendering swaths of the industry unprofitable and setting up a challenge for the Federal Reserve, which analysts say may have to weigh in to keep US interest rates positive.
您已阅读14%（688字），剩余86%（4198字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。