Total net assets in money market funds rose to $4.814 trillion in the week ended Jan. 4, according to the
"It's a mountain of money!" wrote Bank of America technical research strategist Stephen Suttmeier. "While this seems contrarian bullish, higher interest rates have made holding cash more attractive."Investors, worried about earnings and interest rates, may be willing to wait before they put more money into stocks. At the same time, money market funds are actually generating a few percentage points of income for the first time in years.
Cresset Capital's Jack Ablin said the change in behavior toward money markets reflects a bigger shift in the investing environment. Julian Emanuel, senior managing director at Evercore ISI, said the surge into money markets was a direct result of selling stocks at year end.
$HLBZ
Yep, lemme go check my piggy bank! Might buy some tesla near $20
Or CDs!
Stocks still too expensive.
Hodl Bitcoin not cash…
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