Money-Market Funds Have Lured $106 Billion So Far This Month
- Total assets rose to record $6.24 trillion as of Aug. 21: ICI
- Increase led by retail investors positioning ahead of Fed cuts
This article is for subscribers only.
The amount of cash in money-market funds has surged by more than $100 billion so far in August, pushing assets to a record as investors lock in lofty yields before the Federal Reserve starts cutting interest rates.
US money-market funds lured another $24.9 billion in the week through Aug. 21, according to the latest Investment Company Institute data. That brings this month’s inflows to roughly $106 billion, pushing total assets to a series of all-time highs. In all, about $6.24 trillion of cash is sitting in the funds.