Money Market Funds See Biggest Quarterly Inflows Since Q1 2020

Investors are rapidly shifting their assets into money market funds.

They moved $508 billion into these cash funds during the first quarter of 2023, the largest amount to be moved into these funds in a single quarter since the start of the pandemic three years ago, Bloomberg reported Friday (March 31).

This brought the amount of assets in United States money market funds to $5.2 trillion, which is a record high, according to the report.

These investors are moving away from...