US money-market funds' asset decline, snapping trend of record inflows

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Money-market funds' assets fall for the first time since the banking turmoil started, snapping a trend of record inflows

that was driven by depositors migrating cash out of banks amid the sector's worst turmoil since 2008.

In the weeks following SVB's collapse, money-market funds saw accelerated inflows, with their total assets hitting a record high of $5.28 trillion as of April 12, per the ICI.

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