An Unintended Consequence of Low Interest Rates? The Big Get Bigger

<p><span style="font-weight: 400;">Today’s episode of The Breakdown is an extended edition of the Brief.</span></p> <p><span style="font-weight: 400;">NLW discusses:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">The “COVID-19 vaccine trade” on Wall Street kicks markets higher</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The latest on TikTok vs. the U.S. and what it means for the U.S.-China relationship</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">More companies move reserves from cash to</span> <a href= "http://coindesk.com/price/bitcoin"><span style= "font-weight: 400;">bitcoin</span></a></li> </ul> <p><span style="font-weight: 400;">The final topic today looks at news that some large money market funds are shifting fees from users and taking the financial hit themselves. This creates a dynamic where only the largest companies can survive long term, and reflects a key unintended consequence of low interest rates.</span></p>