US money market funds hit a new record of $6.4tn in the wake of last week’s Federal Reserve rate cut.
Inflows from institutional investors topped $113bn in the week to Wednesday, the largest weekly inflow since the height of the 2023 regional banking crisis, according to the Investment Company Institute.
Shelly Antoniewicz, deputy chief economist, said pension funds, endowments and other large investors were taking advantage of the fact that yields on money market funds react more slowly to…
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