Money markets Which of the following are characteristics of money markets? Check all that apply. O A big physical place where all transactions take place O Trade in short-term debt instruments O Trade in instruments with high levels of liquidity O Trade in instruments with high default risk Suppose Ms. Doherty, an accountant at a big firm in New York City, wants to trade $5 million worth of IOUS. Would such a transaction take place in the money market? O Yes O No