11.15.24

A $7 Trillion and Growing Cash Pile Defies Wall Street Skeptics

by: Alex Harris

Total assets held in money market funds climbed above $7 trillion last week for the first time ever. With signs mounting that the Federal Reserve may not cut benchmark rates much more in the near term, many on Wall Street predict that the funds will remain popular. “I’m struggling to see what is going to get either institutional or retail investors out of money market funds,” said Laurie Brignac, chief investment officer and head of global liquidity at Invesco Ltd.

Read the full article on Bloomberg