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Money Fund Assets Surge To New Record
Money market funds snapped a three-week streak of outflows with an emphatic, $43.7 billion haul over the latest weekly reporting period, data released late Thursday showed.
Inflows were spread across institutional and retail, and between government and prime funds.
The influx was the largest since the week ending May 24, and easily offset redemptions seen since mid-June.
Total assets reached a new high at $5.47 trillion.
As noted here during each of the last three weeks, it was exceedingly
Walt, MM Funds are not FDIC insured. In this time of uncertainty I am concerned with the amount of money flowing to those uninsured products. Could they break the buck?
I doubt it. what caused the problem in 2008 was a panic after Lehman failure. There was no “real” reason for people to panic and rush to take their money out. It was a panic situation. The fed stepped in to back the market which was the right thing to do and the panic dissipated. Fed will step in if there is another panic. There is nothing to worry about. These are safe assets. But people lose there minds in a crisis and panic.
I hope not. I just started piling up cash to buy longer term stuff at the pivot I don’t see happening this year.