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MMF AUM Surges, RRP At 31-Month Low, Free Money Fed Arb Still Enticing
Money market funds took in more than $78 billion in the week to January 3, the first update of 2024 showed.
It was the largest weekly inflow since SVB collapsed, and pushed total AUM to a new record high just short of $6 trillion.
Given the timing (i.e., around year-end), it's probably unwise to read a lot into this particular update, but it certainly merits mention.
$64 billion flowed into government funds, split between retail and institutional. Retail prime products saw more than $9 bill
