Money-Market Assets Notch Biggest Weekly Jump Since April 2020

Money-market fund assets swelled by the most in six years, snapping three straight weeks of outflows, now that the US tax season and month-end rebalancing are complete.

About $122 billion flowed into US money-market funds in the period through May 6, which was the biggest increase since April 2020, according to Investment Company Institute data published Thursday. Total net assets rose to $7.75 trillion from $7.626 trillion in the prior week.