The purpose of this report is to provide readers with a comprehensive understanding of the liquidity business, including retail bank deposits, open-end money market mutual funds, & separately managed cash accounts (SMAs) products and consumer households, corporate cash & treasury services, and institutional investors markets & distribution channels. Tiburon has another report that addresses retail banks, including bank deposit products. This report addresses the products of the liquidity business and bank savings accounts and is part of Tiburon's broader coverage of investable assets.
This research starts with a context setting chapter and then addresses the key historical phases of the liquidity business, including:
- Early Phase
- Innovation Phase
- Financial Crisis Phase
- Restructuring Phase
This research defines distinct product markets segments of the liquidity business, including:
- Retail Bank Deposits
- Investment Management Firm Products
- Open-End Money Market Mutual Funds
- Separately Managed Cash Accounts (SMAs)
This research outlines markets & distribution channels for the liquidity business, including:
- Consumer Households
- Corporate Cash & Treasury Services
- Institutional Investors
And this research makes several future predictions for the liquidity business, including:
- Continued Declining Interest Rate Environment
- Slow Market Growth of Liquidity Business
- Slow Decline of Open-End Money Market Mutual Funds & Separately Managed Cash Accounts (SMAs) and a Shift Back to Retail Bank Deposits
- Increasing Importance of Corporate Cash & Treasury Services as Both Consumer Households & Institutional Investors Shift to Equities & Fixed Income Products as Short-Term Interest Rates Decline
- Substantial International (Non-United States) Liquidity Business Opportunities