Money Fund Assets Loiter Near Record. RRP Drain Stalls

An uneventful update on money market fund flows found total assets slipping from record highs reached last week. Overall, money funds saw a little over $1 billion in redemptions in the week to August 23, according to the latest figures released on Thursday evening in the US. The minuscule outflow is notable only for the extent to which it gives me an excuse to editorialize further around a remarkable year for money funds. From a flows perspective, 2023 is already a record. Globally, some $925