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Fidelity dumps US short-term debt as default fears mount
by Dylan Lobo on Oct 10, 2013 at 08:04
Meanwhile Fitch moved to soothe the tension, saying money market funds should be able to cope with a short-term default in US treasuries as long as it does not trigger the kind of investor run that followed the collapse of Lehman Brothers Holdings in 2008.
In a report released yesterday the ratings agency said: 'Mark-to-market declines on US government exposures are probably manageable assuming any default is short-lived and absent significant redemption activity.'
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