Which of the following money market instruments does not have a secondary market?

Name: Which of the following money market instruments does not have a secondary market?
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Question

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Repurchase agreements, or repos, are typically short-term borrowing agreements between financial institutions and do not have a traditional secondary market. Instead, they are directly negotiated between parties and are meant to be held until maturity, unlike other listed options which can be traded on secondary markets.

Which of the Following Money Market Instruments Does Not Have