U.S. money market fund assets rise to record high, short-term rates expected to remain high
Assets held by U.S. money market funds rose to a record high, as the latest Federal Reserve speech showed officials were in no rush to start cutting interest rates and investors expected short-term interest rates to remain high. Data from the Investment Company Institute showed that approximately $70.5 billion flowed into U.S. money market funds in the week ended April 3, the largest weekly increase in three months. Total assets rose to US$6.11 trillion from US$6.04 trillion the previous week.
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