All Categories

U.S. money market assets jump to highest in five months

Assets of U.S. money market funds rose to a five-month high as some investors piled into cash because of global market turmoil stemming from worries about China, the Money Fund Report said on Wednesday.
Money fund assets grew by $20.82 billion to $2.715 trillion in the week ended Aug. 25, the highest total since the week ended March 24, it said.
“The increase suggests that investors are seeking the safety of money-market funds in the wake of a significant drop in U.S. and global stock markets,” according to the report, published by iMoneyNet.
Taxable money market fund assets increased by $20.47 billion to $2.467 trillion, while tax-free assets increased by $350.70 million to $247.46 billion,
The iMoneyNet Money Fund Average 7-Day Simple Yield for All Taxable money-market funds was 0.02 percent for the 32nd consecutive week.
The iMoneyNet Money Fund Average 7-Day Simple Yield for All Tax-Free and Municipal money-market funds remained at 0.01 percent for the 121st straight week.
Show More

Related Articles

Show Buttons
Hide Buttons
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker