...球最大的货币市场基金提供方摩根大通昨天给客户发出通知，宣布旗下下5个欧元定价的货币市场基金和流动性基金（liquidity funds）将不再接受新的投资者。因为0利率可能给投资者带来负的回报。
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一个缺乏短期流动性的国家可能不愿向国际货币基金组织寻求“备用信贷协议”——IMF 危机贷款的中流砥柱。
A country lacking short-term liquidity would be loth to approach the IMF for a loan under the "stand-by arrangement", the mainstay of the IMF's crisis lending.
要是这个基金持有很大的非流动性资产，这个基金就没法立刻卖掉这些资产，除非在一个致命的亏损的时刻，那么它将出售更多流动性资产。
Say the fund holds large positions in illiquid assets. The fund cannot immediately sell these assets, except at a fatal loss, so it would sell its more liquid assets.
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