U.S. money market fund assets rise to $6.59 trillion, record high
2024-11-07 21:43:58
US money market fund assets reached a record high as investors continued to flock to the asset class in search of relatively high returns in the face of the Federal Reserve entering a rate-cutting cycle. About $79.50 billion flowed into US money market funds in the week to November 6, taking total assets to $6.59 trillion, according to data released by the Institute of Investment Companies (ICI). The inflows came ahead of Thursday's decision by the Federal Reserve to cut interest rates by 25 basis points as expected.
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