Four US MMF managers return to Fed repos in May
Fidelity and American Funds among managers opting to increase investments in RRP
A handful of US money market fund (MMF) managers, led by industry leader Fidelity, boosted their investments in the US Federal Reserve’s reverse repo facility in May, signalling that the no-risk trade remains attractive in spite of the more appealing yields available elsewhere.
Of the 21 MMF managers tracked by the Office of Financial Research (OFR), 14 maintained balances with the reverse repo
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