U.S. Money Market Funds Reach Record $5.31 Trillion on Fed Hike, Bank Woes
by: Alex Harris
Some $47.2 billion poured into U.S. money market funds (MMFs) in the week ended May 3, according to data from the Investment Company Institute, bringing total assets to a record $5.31 trillion. MMF assets have seen heavy inflows this year, much of it fueled by more attractive rates. In recent weeks, however, concern about regional lenders have driven inflows, as wary investors pull money from banks.
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