Money Market Funds See Rare Outflow. Banks Tap Fed Facility For $102 Billion

I won't overinterpret because to do so would be to risk drawing spurious conclusions. With that caveat, I'll state the facts: Excluding tax week, US money market funds just saw their first weekly outflow since SVB collapsed, and it (the outflow) came during a stretch that found Wall Street declaring the onset of a new bull market. Money funds, which have absorbed a veritable tsunami of inflows in 2023, shed $4.66 billion in the week to June 14, according to ICI data released on Thursday aftern