The US money market funds collected more funds most cash in nearly five years as uncertainty in the global economy boosted demand for the relatively safe short-term corporate and municipal debt.
What’s more, the US money market also offers richer yield compared to their European counterparts.
Key points (Source: Reuters)
The US money market funds pulled in nearly $34.9 billion during the seven days through June 6, according to Lipper.
Precious metals commodity funds, for instance, posted $1.1 billion in withdrawals over the most recent seven days, their largest week of outflows since November 2016
Share
