Cash Cult Keeps Gathering Adherents

If you're curious, money market funds kicked off the new year with a big inflow. In fact, the $143 billion haul globally (on EPFR's numbers) counted as the largest since April of 2020, when the world was ending. As for US MMFs, ICI's data showed a $66 billion intake, the largest in a month and the third chunky inflow in a row. Over the last three weeks alone, US money funds took in more than $165 billion. Total MMF AUM in the US now stands at $6.92 trillion, according to ICI. As the figure