Money Fund Assets Loiter Near Highs. RRP-Bill Transformation Proceeding Apace

Money market funds returned to inflows in the week to July 19, a somewhat unexciting update released on Thursday evening showed. The $4.22 billion haul came on the heels of a $20.4 billion exodus, and again suggested flows are becoming choppy. You'll recall that last week's redemptions negated nearly half of the largest influx since late May, a near $44 billion deluge observed in the week to July 5, when total assets hit a new record. This week's modest inflows pushed the total amount parke