Meanwhile, prime funds went down $10.83 billion to $765.33 billion while tax-exempt money market funds slipped $3.61 billion to $106.95 billion over the same time.
"Historically, when the Fed is raising rates, bank deposit rates will adjust much more slowly than will a money market fund’s rate," he added. "From that perspective, you might be better off with a money market portfolio."
It’s almost as if people don’t realize there is no insurance at all for Money Market funds. 🤔
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