Money market funds hit record as investors jump at 5% returns

are earning the highest interest rates in decades, making them an increasingly attractive option for investors seeking higher yields with relatively low risk.

Money market funds are paying an average interest rate of 5.15% according to Crane Data, which is the highest level since 1999 and comes after money market yields were typically much lower over the last two decades.of the Crane 100 Money Fund Index, which is based on an average of the 100 largest taxable money market funds, found that money market yields last touched 5% in 2008 before declining to near zero over the next two years as the financial crisis roiled the economy.

As inflation soared in the U.S. economy in 2022 due to high levels of government spending and pandemic-related supply chain disruptions, the Federal Reserve began a campaign of interest rate hikes aimed at stabilizing consumer prices by. That resulted in higher yields on U.S. Treasurys and, in turn, money markets.

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Stock market today: Global stocks up as traders await Fed conference for interest rate updateGlobal stock markets are higher as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
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Stock market today: Asian stocks mixed as traders await Fed conference for interest rate updateAsian stocks are mixed as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
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