Money Market Funds Bleed $62 Billion

Money market funds hemorrhaged cash in the week to March 20, according to the latest flows update. The $61.9 billion exodus negated the entirety of the prior two weeks' inflows and counted as the largest one-week withdrawal since mid-October, when tax-related redemptions resulted in the single-biggest en masse departure since Lehman. It'd be a mistake to read too much (or anything) into this week's update. Anomalous one-week money fund outflows are best left alone -- ignored, even -- and there