Money-market funds rake in $300 billion amid bank-deposit 'bleed-out'

The wall of money migrating into US money-market funds has risen to $304 billion in just three weeks, as depositors spooked by the banking turmoil look elsewhere to park their savings.

The flows accelerated following the collapse of Silicon Valley Bank and Signature Bank in early March, signaling depositors worried about the safety of their savings were pulling money out of banks and parking it elsewhere. "We think that depositors have just awoken to their ability to earn more yield in a money market fund with potentially less risk. After all, and unlike banks, money funds' assets are very short, so they are subject to far less interest rate risk in a Fed tightening cycle," Barclays strategist Joseph Abate said,The flows into money-market funds, while still substantial, moderated in the most recent week in focus to $66 billion from almost $120 billion in the prior period.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

March Sadness: Banks Lost More Than $300 Billion In Market Cap This MonthBanks accounted for 11 of the 12 worst performers on the S&P 500 this month.
Source: Forbes - 🏆 394. / 53 Read more »

Bed Bath & Beyond stock sinks toward record low after $300 stock offering, which represents more than triple the retailer’s market valueShares of Bed Bath & Beyond Inc. sank 3.6% toward a record low in morning trading Thursday, after the troubled home goods retailer said it launched an... I don’t think $300 is gonna save them at this point. But if they need it I can Venmo
Source: MarketWatch - 🏆 3. / 97 Read more »

Bed Bath & Beyond Shares Drop 15% As Company Plans To Sell $300 Million In Stocks To Stave Off BankruptcyBed Bath & Beyond laid off 1,300 employees last week.
Source: Forbes - 🏆 394. / 53 Read more »