US MMF New Record
US Money Market funds just hit a new record of $6.15 trillion.
$51.2 billion flowed to these funds in the week ending July 2nd, the largest amount in 3 months.
Since the Fed began hiking rates in March 2022, ~$1.6 trillion has flowed into money market funds.
Money should continue flowing until the Fed starts cutting rates.
The market is currently pricing 2 rate reductions in 2024 with the first one happening in September.
The rotation of this capital back into equities could drive new all time highs.
$51.2 billion flowed to these funds in the week ending July 2nd, the largest amount in 3 months.
Since the Fed began hiking rates in March 2022, ~$1.6 trillion has flowed into money market funds.
Money should continue flowing until the Fed starts cutting rates.
The market is currently pricing 2 rate reductions in 2024 with the first one happening in September.
The rotation of this capital back into equities could drive new all time highs.
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