Money Fund AUM Slips Second Week As Great MMF Debate Continues

This week's money market fund flows update was mostly uneventful, although it was notable for showing a second week of slippage. Recall that US MMF AUM hit consecutive record highs above $6 trillion earlier this month, in what appeared to be a re-acceleration after two outflows, one of which wasn't entirely trivial. Now, we've seen another two weeks of small-scale redemptions. Of course, the narrative hasn't changed. There's scant evidence that meaningful, sustained outflows loom. Indeed, desp