Money Market Funds Set Another New Record

Money market funds took in nearly $30 billion for the second consecutive week, pushing total assets to a new record above $5.5 trillion. Despite buoyant risk appetite and an inflection in US equity fund flows, money funds continue to attract cash with the highest yields in some two decades. With rates on many (most) savings products still lagging, government products offering 5% with no duration risk and, Fitch aside, no credit risk either, remain an extremely attractive proposition. The $2