04.04.24
MMF Cash Rises to New All-Time High With Fed on Hold
by: Alex Harris
Money market fund (MMF) assets rose to an all-time high on expectations short-term rates will remain elevated as indications suggests Federal Reserve officials are in no rush to start cutting. About $70.5 billion flowed into U.S. MMFs in the week through April 3, the largest weekly increase in three months, according to data from the Investment Company Institute. Total assets rose to $6.11 trillion from $6.04 trillion the week prior. Retail investors have poured into MMFs since the Fed began raising rates aggressively in 2022.
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