More than $300b has poured into money market funds over the last three weeks, driving the total assets invested to over $5t. The bank collapse prompted an outflow of deposits from smaller regional banks — and plenty of that cash landed in money market funds. The shift underscores the pressure that regional lenders — big sources of investment capital in some metro areas — continue to face.
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Money market fund assets surge on bank jitters
"Continued inflows into money market funds are quite likely, but at a slower pace," Goldman Sachs analysts wrote in a note yesterday.
