What are the fundamental characteristics of money market debt instruments?

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What are the fundamental characteristics of money market debt instruments?
Money market debt instruments are mostly those with short term maturities of one year or less. Furthermore, these instruments have high liquidity, meaning that they can be sold or bought in the market at reasonably stable prices. Additionally, the availability of secondary markets also provides an allowance for such instruments to be sold or bought before maturity, thus providing options for dealers in such. Money market debt instruments are also significantly safer than other forms due to their liquidity as well as the nature of institutions that deal with them. A majority of such funds are controlled by credit and monetary institutions such as central banks and commercial banks, hence the level of risk associated with them is relatively low. Lastly, since these transactions are mostly done in bulk, their overall costs are significantly reduced.
These characteristics are essential to those investing and financing because they ensure that their funds are readily accessible in the short run. Additionally, the low risks ensure that more people can access the money market instruments without fear of losses. Consequently, the little to no risk associated with these instruments create an option for companies requiring short term financing or a boost in capital.
Human fear is the source of stock market crashes, so these crashes indicate that expectations in the stock market cannot be rational. Is this statement true, false or uncertain?
The above statement is false. Stock market exchanges are based on predictions or forecasting future events based on several factors. However, external factors can also affect the stock markets leading to unexpected shifts in prices of stock. Consequently, at any particular point, an investor decides after putting into consideration all the pertinent information regarding future predictions. This means that such decisions made are rational due to the level of effort put in place to understand the risks involved in the process. Additionally, stock prices reflect the changes made with all the available information regarding that particular stock, thus signifying the accessibility of such information to investors. Consequently, expectations on investments in stock are desired to change in line with the projections of an investor. While some investors can effectively make use of the data to make correct decisions...