But one does not "annualize" the cost of a short-term instrument that doesn't exist for a year.

The discount houses attempt to make profits by creating a market in short-term financial instruments.

Prospective investors decide in advance whether they need short-term or long-term instruments.

Therefore, the market for short-term instruments will receive a higher demand.

As a result, traders said, the markets for Government securities, particularly short-term instruments, were under pressure.

Keeping the money in very short-term instruments is dampening their dividends.

But most client funds should continue to be invested in short-term instruments and long-term bonds, she added.

Money market trades in short-term financial instruments commonly called "paper."

The balance is invested directly in stocks, bonds or short-term instruments.

Interest rates on other short-term instruments, which had been rising strongly recently, fell yesterday.