Money markets

‘Money markets’ is a generic term covering the vast market for short-term cash loans and deposits organised between institutions such as banks, companies and even the government plus the market for tradable securities that have a life of less than 12 months.

Cash is lent and borrowed at ‘money market rates’ which vary both by currency and also according to time. So, for example, the rate earned on a one-month US dollar deposit will naturally not be the same as that available on a three-month yen deposit.

Then there are ‘money market instruments’ which create liquidity. One example is Treasury bills, which are IOUs which enable the Treasury to borrow and lend funds over periods ranging up to a year.

Hedge fund manager Hugh Hendry: 'It felt like the sun rose only to humiliate me'

In a series of three short videos, Merryn Somerset-Webb talks to Hugh Hendry, manager of the Eclectica hedge fund, about everything from China to the US, Europe, and Japan.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


22 December 1973: Opec more than doubles the price of oil

On this day in 1973 Opec, the oil price cartel, more than doubled the price of oil from $5.12 a barrel to $11.65.