Money Market Funds Continue to Attract Record Inflows in 2023

Money market fund managers see no end in sight to the record inflows they have garnered in 2023, as cash continues to pour in from investors hoping to take advantage of the highest yields available in years. That is a far cry from negligible inflows in 2022 and well above the average full-year net inflow figure of US$179 billion for 2012-2022. The comparable figure for 2021 was US$429 billion.

Money funds typically hold short-term assets including government debt, whose yields have rapidly climbed as the central bank has turned the screws on monetary policy. More than US$257 billion poured in between Oct. 31 and Nov. 30 alone, according to the latest available data, the biggest monthly inflow since U.S. banking ructions in March sparked a flight from ordinary deposit accounts. Those inflows have persisted even as markets are pricing in bets that the Fed will not raise interest rates again this cycle, and will cut borrowing costs as soon as the spring. Assets hit an all-time high of US$5.8 trillion on Nov

United States United States Latest News, United States United States Headlines

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

CNH Industrial lowers 2023 guidance on worsening market conditionsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Binance market share shrinks in 2023Binance accounted for more than 50% of total crypto trading volumes across all centralized exchanges, as per a report by OxScope.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Investors unsure how 2023 ends for market amid stock rallyStocks are extending a week-long rally, with the S&P 500 (^GSPC) closing Wednesday higher after topping its longest winning streak since 2021. The technology...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Hedge funds losing interest in gold as the market searches for a new catalystKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Global Funds Tiptoe Back Into Chinese Stocks as Market ReboundsForeign investors are dipping their toes back into onshore Chinese stocks after a record bout of selling, a sign that the battered market may be forming a bottom. Overseas funds added a total of 15 billion yuan ($2.1 billion) over three sessions, the longest run of net purchases since early August. The CSI 300 benchmark has gained 4.
Source: BNNBloomberg - 🏆 83. / 50 Read more »