Global Turmoil Drives US Money-Market Assets to All-Time High
- Total swells to $6.19 trillion in week to Aug. 7: ICI
- Government fund inflows fuel increase, rising to $5 trillion
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Money-market fund assets rose to a fresh record as a global selloff in risk assets earlier in the week sent investors flying into cash.
About $52.7 billion flowed into US money-market funds in the week through Aug. 7, the largest weekly inflows since the period ended April 3, according to Investment Company Institute data. Total assets rose to $6.19 trillion from $6.135 trillion in the prior week.