Does Mutual Fund Fragility Impact Primary Market Pricing? Evidence from Commercial Paper

Yi Li, Sean Tibay and Ashley W. Wang
Additional contact information
Yi Li: https://www.federalreserve.gov/econres/yi-li.htm
Ashley W. Wang: https://www.federalreserve.gov/econres/ashley-wang.htm

No 2025-02-12-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Investor flows in open-end mutual funds, along with their inherent liquidity mismatches and potential fragility risks, can significantly impact the pricing of assets these funds invest in. While much of the existing research has focused on these effects within the secondary markets for equities and bonds, this note, based on a working paper by Li, Tibay, and Wang (2024), provides evidence on how shocks from investor flows in prime money market funds (MMFs) influence the pricing and issuance in the primary markets for commercial paper (CP).

Date: 2025-02-12
New Economics Papers: this item is included in nep-fmk
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2025-02-12-2

DOI: 10.17016/2380-7172.3671

Access Statistics for this paper

More papers in FEDS Notes from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().