MMF Assets Fall After Record Start. BTFP Usage Soars As Arb Beckons

Money market funds saw a rare outflow in the week to January 17, data released late Thursday in the US showed. The $14.12 billion net redemption was the first in a month and only the third since mid-October. It was solely attributable to institutional outflows from government funds. Total AUM, which ran to a new record high just short of $6 trillion last week, retreated to $5.96 trillion. The debate around if and when MMFs will see sustained outflows continues, as does the discussion around