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Money Fund Assets Slip From Record With First Outflow Since August
Money market fund AUM retreated from record highs in the week to September 20, data released late Thursday in the US showed.
The $7 billion outflow was the first in almost a month and came on the heels of a near $74 billion influx over the prior three weeks.
Total assets were $5.636 trillion as of Wednesday, just below the all-time high set a week ago.
The outflow was down to institutional government, which saw $13.2 billion hit the exits. Retail inflows were $3 billion in government funds
Sounds like the beginning of a tide change to me, but do we know where that money is going next? Is it time to load up on ten-year treasuries yet?