Which of the following statements is NOT correct?

A. The money market is a subsector of the fixed-income market.

B. For each investor, equally preferred portfolios can have different Sharpe ratios.

C. LIBOR is the rate at which large banks in London are willing to lend short-term loans among themselves.

D. Residual claim means that stockholders have the claim on firm value leftover after all other claims have been paid.

E. Commercial paper is a short-term unsecured debt note issued by a large, well-known bank.