Investments, tenth edition

 Asset Classes and 

Financial Instruments 

2

 P

AR

T I 

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bod61671_ch02_028-058.indd   28

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  C H A P T E R  

2

  Asset Classes and Financial Instruments 

29

  The money market is a subsector of the fixed-income market. It consists of very short-

term debt securities that usually are highly marketable.  Table 2.1  lists outstanding volume 

in 2012 for some of the major instruments in this market. Many of these securities trade 

in large denominations, and so are out of the reach of individual investors. Money mar-

ket funds, however, are easily accessible to small investors. These mutual funds pool the 

resources of many investors and purchase a wide variety of money market securities on 

their behalf.