Money Market Fund Assets Power Ever Higher

Money market funds attracted nearly $40 billion in new cash in the week to August 16, data released late Thursday in the US showed. It was the largest haul since July 5, and extended the run of inflows to five weeks. Total assets touched a new record near $5.57 trillion. The lion's share of the influx was attributable to institutional government, although retail investors plowed a sizable $11 billion into government money funds too. Minutes from the July FOMC meeting found the SOMA manager