The $6 Trillion Question

"Cash" had a helluva year. Perhaps you're aware. Every week, I editorialize around the latest flows data for money market funds, and more often than not in 2023 that meant trying to conjure new ways to say the exact same thing: AUM hit another record. Eventually, I grew tired of paraphrasing myself. "Another week, another new all-time high" became the standard, tired refrain. Last week was no exception. Money fund assets hit $5.763 trillion after taking in another $29 billion. The inflow a