U.S. money market fund assets hit a record $8.281 trillion as demand for cash-like assets surges

Odaily reported that uncertainty surrounding the Federal Reserve's monetary policy path has spurred demand for cash-like assets, pushing the total assets of U.S. money market funds to a record $8.281 trillion.

According to the latest data from Crane Data, approximately $66 billion flowed into the money market fund industry during the week ending May 28. Of this, about $41 billion was received on Thursday as investors adjusted their portfolios ahead of the month's end. Since the start of this year, money market funds have attracted a cumulative inflow of approximately $172 billion. (Bloomberg)