A $165 Billion Wave Is Pushing Money Fund Assets to New Records
- Money-market fund assets reach a record $6.3 trillion: ICI
- Barclays, BofA say money funds attractive despite Fed path
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Investors poured cash into US money-market funds for a fifth-straight week, offering the latest indication that demand is strong in the face of the Federal Reserve interest-rate cuts.
Some $37 billion was added to the funds in the week ending Sept. 4, bringing the recent streak of inflows to about $165 billion, according to the latest Investment Company Institute data. That put total assets at a record $6.3 trillion, up from a previous peak of $6.26 trillion.