Money Fund Assets Near $5.5 Trillion. Usage Of Fed’s Bank Backstop Hits $100 Billion

Already inundated money market funds took in another $37 billion in the week to June 7, data released late Thursday showed. The latest haul marked an acceleration in the weekly pace, even as ongoing gains for equities evidence risk appetite and a burgeoning fear of missing the boat on a stock rally that pushed the S&P into an ostensible bull market. Money funds have seen inflows every week since SVB's implosion with the exception of tax-related redemptions. This week, inflows were broad