Risk Quantum/Vanguard Asset Management
MMF investments hit new high after $1trn gained over 2025
Outright UST holdings drive surge with $900bn rise in six months
MMFs’ reverse repos with Fed surged 35% last year
Fidelity-run funds drove 29% of the $601 billion in new trades
MMFs lengthen portfolio maturity post-Covid – BIS
Average holdings had maturity of 41 days in November