‘Dash From Cash’ Brings ‘Massive’ Stock Inflows, But No Escape Velocity For Recovery Yet

‘Dash From Cash’ Brings ‘Massive’ Stock Inflows, But No Escape Velocity For Recovery Yet

The "dash from cash is accelerating", BofA's Michael Hartnett writes, flagging the biggest six-week cumulative outflow from money market funds since 2010. On Thursday afternoon, ICI said $51.89 billion fled money funds in the week through Wednesday. It was the largest weekly outflow of the year with the exception of tax day in the US (which came on a three-month delay as part of crisis-fighting efforts). The six-week exodus from cash clocks in at $184 billion, Hartnett notes, in the course of
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