U.S. money market fund assets hit a new high

Assets in US money market funds hit a new high after a global sell-off in risky assets last week sent investors rushing to cash out as money flocked further into high-quality assets. About $28.40 billion flowed into US money market funds in the week to August 14, taking total assets to an all-time high of $6.22 trillion, according to the Investment Company Association. Retail investors have flocked to money funds since 2022, when the Federal Reserve began one of its most aggressive tightening cycles in decades. The inflows have continued so far, although investors expect the Fed to start cutting interest rates soon.